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CONSOLIDATED STATEMENTS OF CASH FLOWS - BRL (R$)
R$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of cash flows [abstract]      
Net income R$ 15,988.4 R$ 14,846.9 R$ 14,960.4
Adjustments:      
Depreciation, amortization and impairment 6,832.1 7,126.4 6,417.9
Impairment losses on receivables and inventory 257.9 379.1 358.4
Additions to/(reversals of) provisions and employee benefits 521.2 348.0 233.8
Net financial results 4,001.8 2,318.3 3,609.8
Losses/(gains) on sales of property, plant and equipment and intangible assets (85.2) (121.3) (86.4)
Losses/(gains) on sales of operations in subsidiaries (862.0)
Share-based payment expenses 454.2 400.9 331.6
Income tax expenses 3,433.3 4,640.4 75.5
Share of results of associates and joint ventures (105.8) (3.9) 185.3
Hedge operations (689.0) (967.2) (37.9)
Other non-cash items included in profit (9.0)
Cash flow from operating activities before changes in working capital 29,746.9 28,967.6 26,039.4
(Increase)/decrease in trade and other receivables (312.9) 220.4 (1,373.9)
(Increase)/decrease in inventories (30.9) (1,702.6) 1,300.9
Increase/(decrease) in trade and other payables (1,272.2) 1,317.2 (223.1)
Cash generated from operations 28,130.9 28,802.6 25,743.3
Interest paid (886.9) (742.1) (666.1)
Interest received 1,355.5 1,629.6 1,248.3
Dividends received 38.8 26.6 12.9
Income tax paid (4,187.9) (3,617.9) (1,627.0)
Cash flow from operating activities 24,450.4 26,098.8 24,711.4
Proceeds from sales of property, plant and equipment and intangible assets 167.3 170.6 154.1
Acquisitions of property, plant and equipment and intangible assets (4,590.5) (4,749.1) (6,004.1)
Sale/(acquisition) of subsidiaries, net of cash acquired (91.6) 10.3 (46.5)
Capital increases in associates and subsidiaries (6.3)
Investments in short-term debt securities and net proceeds/(acquisitions) of debt securities (441.5) (888.6) 136.4
Net proceeds/(acquisitions) of other assets 6.2 (6.6) 0.4
Cash flow from/(used in) investing activities (4,950.1) (5,463.4) (5,766.0)
Capital increases(reduction)/ in associates and subsidiaries (64.9) 17.5 14.5
Capital increases/(reduction) in non-controlling interest (1.3)
Proceeds from/(buybacks of) treasury shares (1,860.8) (467.6) (119.0)
Acquisitions of non-controlling interest (1,717.0)
Proceeds from borrowing 51.1 489.1 49.8
Repayments of borrowing (177.5) (604.7) (227.4)
Cash net of finance costs other than interest (3,103.6) (2,680.9) (2,731.1)
Payments of lease liabilities (1,152.3) (1,330.7) (1,180.1)
Dividends and interest on capital paid (20,463.5) (4,056.4) (11,921.9)
Cash flow from/(used in) financing activities (26,771.5) (10,352.0) (16,115.2)
Net increase/(decrease) in cash and cash equivalents (7,271.2) 10,283.4 2,830.2
Cash and cash equivalents at the beginning of the year 28,595.7 16,059.0 14,852.1
Effects of exchange rate fluctuations on cash and cash equivalents (2,686.3) 2,253.3 (1,623.3)
Cash and cash equivalents at the end of the year R$ 18,638.2 R$ 28,595.7 R$ 16,059.0