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TRADE PAYABLES
 12 Months Ended
Dec. 31, 2022
Trade Payables  
TRADE PAYABLES

 

26.TRADE PAYABLES
   
  2022 2021
 
Trade payables  165.8   209.2 
Related parties (Note 31)  343.6   407.9 
Non-current  509.4   617.1 
 
Trade payables  23,498.1   23,867.2 
Related parties (Note 31)  830.4   1,210.7 
Current  24,328.5   25,077.9 
 
Total  24,837.9   25,695.0 

 

The Company recognizes its third party and related party vendor obligations in trade payables line. As mentioned in note 3 (u) – Summary of significant accounting policies, Trade Payables, when relevant, vendor trade payables are adjusted at present value.

Therefore, the present value adjustment recorded for trade payables, at December 31, 2022 is R$367 million (R$239 million at December 31, 2021).

 

The controlled companies in Argentina, Chile, Paraguay and Panama have transactions with discounted trade bills with endorsement (trade payables securitization) with vendors in the amount of R$219.3 million at December 31, 2022 (R$370.0 million at December 31, 2021). In general, the abovementioned discounted trade bills transactions occur by legal impositions existing in these jurisdictions. These transactions maintain commercial characteristics since there are no changes in previously established conditions and its vendor’s choice to carry out the anticipation of its trade receivables with the Company.