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EMPLOYEE BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2022
Employee Benefits  
Schedule of net liability for defined benefit plans
     
  2022 2021 2020
Present value of funded obligations  (5,476.5)  (7,354.3)  (7,582.0)
Fair value of plan assets  4,543.3   5,638.0   5,533.3 
Present value of net obligations  (933.2)  (1,716.3)  (2,048.7)
Present value of unfunded obligations  (921.0)  (1,165.4)  (1,195.6)
Present value of net obligations   (1,854.2)  (2,881.7)  (3,244.3)
Asset ceiling  (163.3)  (180.1)  (160.5)
Net liabilities  (2,017.5)  (3,061.8)  (3,404.8)
Other long term employee benefits  (87.1)  (104.3)  (105.5)
Total employee benefits  (2,104.6)  (3,166.1)  (3,510.3)
Employee benefits amount in the balance sheet  
Liabilities   (2,161.2)  (3,194.0)  (3,543.9)
Assets   56.6   27.9   33.6 
Net liabilities  (2,104.6)  (3,166.1)  (3,510.3)
Schedule of defined benefit obligations
     
  2022 2021 2020
Defined benefit obligation at January 1  (8,519.7)  (8,777.6)  (6,845.0)
Service costs  (47.0)  (58.0)  (51.4)
Interest costs  (353.2)  (324.3)  (339.4)
Gains and (losses) on settlements or reductions in benefits  3.8   3.6   44.1 
Contributions by plan participants  (5.6)  (6.9)  (6.1)
Actuarial gains and (losses) - geographical assumptions  -     52.3   54.5 
Actuarial gains and (losses) - financial assumptions  1,333.6   726.8   (443.6)
Experience adjustments  (171.5)  (213.0)  (180.9)
Reclassifications  -     (1.0)  -   
Effect of exchange rate fluctuations  787.7   (495.3)  (1,531.7)
Benefits paid  574.4   573.7   521.9 
Defined benefit obligation at December, 31  (6,397.5)  (8,519.7)  (8,777.6)
Schedule of changes in the fair value of plan assets
     
  2022 2021 2020
Fair value of plan assets at January 1  5,638.0   5,533.3   4,582.4 
Interest income  262.1   223.9   245.2 
Administrative costs  (5.2)  (5.8)  (5.2)
Expected return, excluding interest income  (614.6)  (148.3)  89.4 
Contributions by employer  316.0   342.0   306.8 
Contributions by plan participants  5.8   7.1   6.3 
Exchange differences  (482.6)  263.1   812.1 
Transfers  -     -     20.0 
Curtailments, settlements and other  (1.8)  (3.6)  (1.8)
Benefits paid, excluding administrative costs  (574.4)  (573.7)  (521.9)
Fair value of plan assets at December, 31  4,543.3   5,638.0   5,533.3 
Schedule of asset ceiling
     
  2022 2021 2020
Asset ceiling impact at January 1  27.9   33.6   56.2 
Interest income/(expenses)  -     1.3   12.2 
Change in asset ceiling excluding amounts included in interest income/(expenses)  30.2   (9.0)  (48.9)
Effects of exchange rate fluctuations    (1.5)  2.0   14.1 
Asset ceiling impact at December 31   56.6   27.9   33.6 
Schedule of defined benefit plans recognized in the income statement
     
  2022 2021 2020
Current service costs  (47.0)  (58.0)  (51.4)
Administrative costs  (5.2)  (5.8)  (5.2)
(Gains) losses on settlement and curtailment  2.2   1.2   42.6 
Income from operations  (50.0)  (62.6)  (14.0)
Financial costs  (107.8)  (115.6)  (117.2)
Total employee benefit expenses  (157.8)  (178.2)  (131.2)
Schedule of employee benefit revenue
     
  2022 2021 2020
Other operating income/(expenses), net  (0.1)  (0.2)  -   
Cost of sales  (26.4)  (33.0)  (28.9)
Sales and marketing expenses   (9.4)  (11.7)  (9.9)
Administrative income/(expenses)  (14.1)  (17.7)  24.8 
Financial expense  (107.8)  (115.6)  (117.2)
   (157.8)  (178.2)  (131.2)
Schedule of assumptions
     
  2022 (i) 2021 (i) 2020 (i)
Discount rate 5.1% to 11.0% 2.9% to 10.0% 2.4% to 10.0%
Inflation 2.0% to 3.5% 2.0% to 3.5% 2.0% to 3.5%
Future salary increases  1.0% to 7.1% 1.0% to 7.1% 1.0% to 7.1%
Future pension increases 2.7% to 3.8% 2.5% to 3.8% 2.0% to 3.8%
Medical cost trend rate  6.4% to 7.1% p.a. reducing to 7.1% 4.2% to 6.9% p.a. reducing to 6.9% 4.5% to 6.9% p.a. reducing to 6.9%
Dental claims trend rate  3.5% 3.3% 3.3%
 
Life expectancy for an over 65 years old male  84 to 87 85 to 87 84 to 87
Life expectancy for an over 65 years old female 86 to 89 87 to 89 86 to 89

 

 

(i) Includes assumptions in Brazil, Central America and Caribbean, Latin America - South and Canada.
Schedule of weighted principal assumptions
                 
In millions of Brazilian Reais   2022   2021   2020
  Change in assumption Increase in assumption Decrease in assumption Increase in assumption Decrease in assumption Increase in assumption Decrease in assumption
Medical cost trend rate 100 bases points   (94.3)  81.8     (114.7)  98.6     (139.4)  118.6 
Discount rate 50 bases points   307.9   (328.0)    442.0   (470.3)    461.0   (492.6)
Future salary increase 50 bases points   (17.6)  16.5     (19.8)  18.6     (24.3)  23.3 
Longevity One year  (221.5)  213.5     (287.6)  279.5     (295.6)  287.1 
Schedule of plans assets
                     
  2022   2021   2020
  Rated Unrated Total   Rated Unrated Total   Rated Unrated Total
Government bonds 43%                  -    43%   43%                  -    43%   52%                  -    52%
Corporate bonds 10%                  -    10%   10%                  -    10%   6%                  -    6%
Equity instruments 15%                  -    15%   15%                  -    15%   6%                  -    6%
Cash 6%                  -    6%   6%                  -    6%   1%                  -    1%
Others 26%                  -    26%   26%                  -    26%   35%                  -    35%