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v3.22.4

FINANCIAL INSTRUMENTS AND RISKS (Tables) | 12 Months Ended
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Dec. 31, 2022
Financial Instruments And Risks |
Schedule of financial risk management |
Schedule of financial risk management |  |  |  |  |  |  |  |  |  |
2022
|  |  |  |  | Fair Value |  | Gain / (Losses)
Exposure |  | Risk | Notional |  | Assets | Liability |  | Finance Result | Operational Result | Equity
Cost |  |  | 19,853.3 |  | 271.8 | (719.4) |  | (3,075.2) | 452.7 | 134.3
|  | Commodities | 4,809.9 |  | 100.8 | (376.0) |  | 63.5 | (32.3) | (475.0)
|  | US Dollars | 14,874.7 |  | 157.7 | (342.9) |  | (3,139.2) | 477.1 | 596.6
|  | Euros | 32.2 |  | 1.9 | - |  | (0.7) | (0.3) | 1.2
|  | Mexican Pesos | 136.5 |  | 11.4 | (0.5) |  | 1.2 | 8.2 | 11.5
Fixed Assets |  |  | 226.8 |  | 1.5 | (5.4) |  | (5.9) | 4.9 | (13.0)
|  | US Dollars | 226.8 |  | 1.5 | (5.4) |  | (5.9) | 4.9 | (13.0)
Expenses |  |  | 204.9 |  | 0.5 | (4.6) |  | (42.5) | 9.1 | (14.8)
|  | US Dollars | 204.9 |  | 0.5 | (4.6) |  | (42.5) | 9.1 | (14.8)
Cash |  |  | - |  | - | - |  | (17.1) | - | -
|  | US Dollars | - |  | - | - |  | (17.1) | - | -
As at December 31, 2022 |  | 20,285.0 |  | 273.8 | (729.4) | - | (3,140.7) | 466.7 | 106.5
|  | 2021
|  |  |  |  | Fair Value |  | Gain / (Losses)
Exposure |  | Risk | Notional |  | Assets | Liability |  | Finance Result | Operational Result | Equity
Cost |  | 18,911.7 |  | 597.4 | (421.1) |  | (2,113.5) | 1,710.2 | 2,277.4
| Commodities | 3,179.9 |  | 455.3 | (41.2) |  | (126.8) | 1,168.1 | 684.7
| US Dollars | 15,516.2 |  | 136.2 | (378.4) |  | (1,970.7) | 541.8 | 1,792.7
| Euros | 31.8 |  | - | (0.8) |  | (0.1) | 0.5 | (1.9)
| Mexican Pesos | 183.8 |  | 5.9 | (0.7) |  | (15.9) | (0.2) | (198.1)
Fixed Assets |  | 1,111.4 |  | 1.1 | (53.3) |  | (368.8) | 105.3 | 103.2
| US Dollars | 1,111.4 |  | 1.1 | (53.3) |  | (368.8) | 105.3 | 103.2
Expenses |  | 365.8 |  | 0.5 | (18.1) |  | (124.5) | 36.9 | 192.9
| US Dollars | 365.8 |  | 0.5 | (18.1) |  | (124.5) | 36.9 | 192.9
Equity Instrument |  | - |  | - | - |  | 78.0 | - | -
| Stock exchange prices | - |  | - | - |  | 78.0 | - | -
As at December 31, 2021 |  | 20,388.9 |  | 599.0 | (492.5) |  | (2,528.8) | 1,852.4 | 2,573.5
Schedule of detailed information about hedging instruments |
Schedule of detailed information about hedging instruments |  |
| 2022
| Risk
| Interest rate | Amount
Brazilian Reais | 8.5% | 230.1
Post fixed interest rate |  | 230.1
Brazilian Reais | 8.5% | 2,602.1
Working Capital in Argentinean Peso | 73.5% | 74.3
Other | 10.4% | 421.3
US Dollars | 14.0% | 6.2
Canadian Dollars | 5.3% | 511.0
Pre-fixed interest rate |  | 3,614.9
| 2021
| Risk
| Interest rate | Amount
Brazilian Reais | 11.6% | 83.0
Post fixed interest rate |  | 83.0
Brazilian Reais | 7.2% | 2,343.3
Working capital in Argentinean Peso | 34.7% | 30.5
Other | 11.3% | 226.0
US Dollars | 13.1% | 17.5
Canadian Dollars | 2.5% | 430.8
Pre-fixed interest rate |  | 3,048.1
Schedule of Notional and fair value amounts per instrument and maturity |
Schedule of types of market risk |  |  |  |  |
Transaction | Risk | Fair value | Probable scenario | Adverse scenario | Remote scenario
Commodities hedge | Decrease in commodities price | (275.2) | (466.3) | (1,477.8) | (2,680.3)
Input purchases |  | 275.2 | 466.3 | 1,477.8 | 2,680.3
Foreign exchange hedge | Foreign currency decrease | (172.4) | (425.5) | (3,933.1) | (7,694.0)
Input purchases |  | 172.4 | 425.5 | 3,933.1 | 7,694.0
Cost effects |  | - | - | - | -
Foreign exchange hedge | Foreign currency decrease | (3.9) | (5.2) | (60.6) | (117.3)
Capex Purchases |  | 3.9 | 5.2 | 60.6 | 117.3
Fixed asset effects |  | - | - | - | -
Foreign exchange hedge | Foreign currency decrease | (4.1) | (5.1) | (55.3) | (106.5)
Expenses |  | 4.1 | 5.1 | 55.3 | 106.5
Expense effects |  | - | - | - | -
| - | - | - | -
As at December 31, 2022 the Notional and Fair Value amounts per instrument and maturity were as follow:
Schedule of Notional and fair value amounts per instrument and maturity |  |  |  |  |  |  |
|  | Notional Value
Exposure | Risk | 2023 | 2024 | 2025 | 2026 | >2026 | Total
Cost |  | 19,758.1 | 95.2 | - | - | - | 19,853.3
| Commodities | 4,714.7 | 95.2 | - | - | - | 4,809.9
| US Dollars | 14,874.7 | - | - | - | - | 14,874.7
| Euros | 32.2 | - | - | - | - | 32.2
| Mexican Pesos | 136.5 | - | - | - | - | 136.5
Fixed assets |  | 226.8 | - | - | - | - | 226.8
| US Dollars | 226.8 | - | - | - | - | 226.8
Expenses |  | 204.9 | - | - | - | - | 204.9
| US Dollars | 204.9 | - | - | - | - | 204.9
| 20,189.8 | 95.2 | - | - | - | 20,285.0
|  | Fair Value
Exposure | Risk | 2023 | 2024 | 2025 | 2026 | >2026 | Total
Costs |  | (449.1) | 1.5 | - | - | - | (447.6)
| Commodities | (276.7) | 1.5 | - | - | - | (275.2)
| US Dollars | (185.2) | - | - | - | - | (185.2)
| Euros | 1.9 | - | - | - | - | 1.9
| Mexican Pesos | 10.9 | - | - | - | - | 10.9
Fixed assets |  | (3.9) | - | - | - | - | (3.9)
| US Dollars | (3.9) | - | - | - | - | (3.9)
Expenses |  | (4.1) | - | - | - | - | (4.1)
| US Dollars | (4.1) | - | - | - | - | (4.1)
| (457.1) | 1.5 | - | - | - | (455.6)
Schedule of Notional and fair value amounts per instrument and maturity |
Schedule of Notional and fair value amounts per instrument and maturity |  |  |  |  |  |  |
|  | Notional Value
Exposure | Risk | 2023 | 2024 | 2025 | 2026 | >2026 | Total
Cost |  | 19,758.1 | 95.2 | - | - | - | 19,853.3
| Commodities | 4,714.7 | 95.2 | - | - | - | 4,809.9
| US Dollars | 14,874.7 | - | - | - | - | 14,874.7
| Euros | 32.2 | - | - | - | - | 32.2
| Mexican Pesos | 136.5 | - | - | - | - | 136.5
Fixed assets |  | 226.8 | - | - | - | - | 226.8
| US Dollars | 226.8 | - | - | - | - | 226.8
Expenses |  | 204.9 | - | - | - | - | 204.9
| US Dollars | 204.9 | - | - | - | - | 204.9
| 20,189.8 | 95.2 | - | - | - | 20,285.0
|  | Fair Value
Exposure | Risk | 2023 | 2024 | 2025 | 2026 | >2026 | Total
Costs |  | (449.1) | 1.5 | - | - | - | (447.6)
| Commodities | (276.7) | 1.5 | - | - | - | (275.2)
| US Dollars | (185.2) | - | - | - | - | (185.2)
| Euros | 1.9 | - | - | - | - | 1.9
| Mexican Pesos | 10.9 | - | - | - | - | 10.9
Fixed assets |  | (3.9) | - | - | - | - | (3.9)
| US Dollars | (3.9) | - | - | - | - | (3.9)
Expenses |  | (4.1) | - | - | - | - | (4.1)
| US Dollars | (4.1) | - | - | - | - | (4.1)
| (457.1) | 1.5 | - | - | - | (455.6)
Schedule of terms and debt repayments |
Schedule of terms and debt repayments |  |  |  |  |  |  |
| 2022
| Carrying amount | Contractual cash flows | Less than 1 year | 1-2 years | 2-3 years | 3-5 years | More than 5 years
Trade and other payables (i) | 39,354.4 | 40,656.4 | 36,818.5 | 86.8 | 1,275.1 | 1,008.4 | 1,467.6
Secured bank loans | 180.8 | 245.7 | 68.2 | 26.4 | 25.2 | 50.4 | 75.5
Other unsecured loans | 472.5 | 759.1 | 169.9 | 156.7 | 151.6 | 165.4 | 115.5
Lease liabilities | 3,117.4 | 3,657.4 | 962.9 | 1,008.4 | 621.0 | 696.9 | 368.2
| 43,125.1 | 45,318.6 | 38,019.5 | 1,278.3 | 2,072.9 | 1,921.1 | 2,026.8
(i) | Mainly includes amounts related to suppliers, taxes, fees and contributions payables, dividends and interest on equity payable, salaries and charges, put options related to the Company’s participation in subsidiaries and other liabilities, except for related parties, with payment term of less than one year.
| 2021
| Carrying amount | Contractual cash flows | Less than 1 year | 1-2 years | 2-3 years | 3-5 years | More than 5 years
Trade and other payables (i) | 38,976.2 | 40,186.2 | 34,690.6 | 1,279.7 | 2,248.8 | 327.2 | 1,639.9
Secured bank loans | 247.0 | 328.1 | 88.9 | 61.7 | 26.4 | 50.4 | 100.7
Unsecured bank loans | 84.1 | 84.1 | 84.1 | - | - | - | -
Other unsecured loans | 130.1 | 234.7 | 46.5 | 48.2 | 29.1 | 20.7 | 90.2
Lease liabilities | 2,639.3 | 3,070.9 | 788.5 | 756.1 | 550.7 | 422.4 | 553.2
| 42,076.7 | 43,904.0 | 35,698.6 | 2,145.7 | 2,855.0 | 820.7 | 2,384.0
(i) | Mainly includes amounts related to suppliers, taxes, fees and contributions payables, dividends and interest on equity payable, salaries and charges, put options related to the Company’s participation in subsidiaries and other liabilities, except for related parties, with payment term of less than one year.
Schedule of consolidated financial instruments |
Schedule of consolidated financial instruments |  |  |
| 2022
| Amortized cost | Fair value through profit or loss | Total
Financial assets |  |  |
Cash and cash equivalents less bank overdrafts | 14,852.1 | - | 14,852.1
Trade receivables excluding prepaid expenses | 7,791.4 | - | 7,791.4
Investment securities | 219.1 | 454.5 | 673.6
Derivatives hedges | - | 273.8 | 273.8
Total | 22,862.6 | 728.3 | 23,590.9
Financial liabilities |  |  |
Trade payables | 24,837.9 | - | 24,837.9
Put options granted on subsidiaries | - | 3,060.3 | 3,060.3
Derivatives hedges | - | 729.4 | 729.4
Interest-bearing loans and borrowing | 3,770.7 | - | 3,770.7
Other liabilities | 2,015.6 | 333.7 | 2,349.3
Total | 30,624.2 | 4,123.4 | 34,747.6
| 2021
| Amortized cost | Fair value through profit or loss | Total
Financial assets |
Cash and cash equivalents less bank overdrafts | 16,597.2 | - | 16,597.2
Trade receivables excluding prepaid expenses | 7,084.7 | - | 7,084.7
Investment securities | 192.9 | 1,914.6 | 2,107.5
Derivatives hedges | - | 599.0 | 599.0
Total | 23,874.8 | 2,513.6 | 26,388.4
Financial liabilities |  |  |
Trade payables | 25,695.0 | - | 25,695.0
Put options granted on subsidiaries | - | 3,291.4 | 3,291.4
Derivatives hedges | - | 492.5 | 492.5
Interest-bearing loans and borrowing | 3,100.6 | - | 3,100.6
Other liabilities | 2,263.7 | 194.7 | 2,458.4
Total | 31,059.3 | 3,978.6 | 35,037.9
Schedule of fair value measurement |
Schedule of fair value measurement |  |  |  |  |  |  |  |  |
| 2022 |  | 2021
| Level 1 | Level 2 | Level 3 | Total |  | Level 1 | Level 2 | Level 3 | Total
Financial assets |  |  |  |  |
Financial asset at fair value through profit and loss | 454.5 | - | - | 454.5 |  | 1,914.6 | - | - | 1,914.6
Derivatives - operational hedge | 57.0 | 216.8 | - | 273.8 |  | 159.1 | 439.9 | - | 599.0
Total | 511.5 | 216.8 | - | 728.3 |  | 2,073.7 | 439.9 | - | 2,513.6
Financial liabilities |  |  |  |  |
Financial liabilities at fair value through profit and loss | - | - | 3,393.9 | 3,393.9 |  | - | - | 3,486.0 | 3,486.0
Derivatives - operational hedge | 76.1 | 653.3 | - | 729.4 |  | 193.4 | 299.1 | - | 492.5
Total | 76.1 | 653.3 | 3,393.9 | 4,123.3 |  | 193.4 | 299.1 | 3,486.0 | 3,978.5
Schedule of Reconciliation of changes in the assets |
Schedule of Reconciliation of changes in the assets |
Financial liabilities at December 31, 2021 | 3,486.0
Acquisition of investments | 161.4
Total gains and losses during the period | (253.5)
Losses/(gains) recognized in net income | (46.3)
Losses/(gains) recognized in equity | (207.2)
Financial liabilities at December 31, 2022 | 3,393.9

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