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Consolidated Statements of Financial Position - USD ($)
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 3,469,120,000 $ 4,565,136,000
Margin cash 168,301,000 159,562,000
Trade accounts receivable 3,555,443,000 4,231,924,000
Dividends receivable 0 1,465,000
Inventories 6,996,200,000 6,107,165,000
Biological assets 1,810,275,000 1,826,766,000
Recoverable taxes 1,088,854,000 957,211,000
Derivative assets 118,170,000 155,602,000
Other current assets 550,408,000 433,372,000
TOTAL CURRENT ASSETS 17,756,771,000 18,438,203,000
NON-CURRENT ASSETS    
Long-term investments 50,949,000 45,780,000
Recoverable taxes 2,085,715,000 1,874,572,000
Biological assets 660,066,000 611,799,000
Related party receivables 32,709,000 41,231,000
Deferred income taxes 656,067,000 547,014,000
Other non-current assets 563,888,000 488,803,000
Investments in equity-accounted investees 225,663,000 171,612,000
Property, plant and equipment 14,415,997,000 13,645,658,000
Right of use assets 1,621,847,000 1,613,647,000
Intangible assets 1,784,787,000 1,825,592,000
Goodwill 5,983,917,000 5,852,575,000
TOTAL NON-CURRENT ASSETS 28,081,605,000 26,718,283,000
TOTAL ASSETS 45,838,376,000 45,156,486,000
CURRENT LIABILITIES    
Trade accounts payable 5,851,662,000 6,198,100,000
Supply chain finance 1,195,548,000 1,134,459,000
Loans and financing 1,334,897,000 833,085,000
Income taxes 122,923,000 288,030,000
Other taxes payable 187,613,000 152,959,000
Payroll and social charges 1,378,331,000 1,560,159,000
Lease liabilities 368,699,000 354,887,000
Dividends payable 117,000 0
Provisions for legal proceedings 220,431,000 159,217,000
Derivative liabilities 116,808,000 156,405,000
Other current liabilities 805,586,000 704,509,000
TOTAL CURRENT LIABILITIES 11,582,615,000 11,541,810,000
NON-CURRENT LIABILITIES    
Loans and financing 21,315,792,000 20,257,483,000
Income and other taxes payable 424,436,000 407,727,000
Payroll and social charges 337,805,000 288,065,000
Lease liabilities 1,425,518,000 1,412,398,000
Deferred income taxes 1,175,082,000 1,169,300,000
Provisions for legal proceedings 223,544,000 209,358,000
Related party payables 142,536,000 190,998,000
Derivative liabilities 101,901,000 114,376,000
Other non-current liabilities 50,086,000 42,180,000
TOTAL NON-CURRENT LIABILITIES 25,196,700,000 24,091,885,000
EQUITY    
Share capital - common shares 41,560,000 35,114,000
Reserves 8,064,257,000 6,582,694,000
Undistributed results 118,485,000 2,085,772,000
Attributable to company shareholders 8,224,302,000 8,703,580,000
Attributable to non-controlling interest 834,759,000 819,211,000
TOTAL EQUITY 9,059,061,000 9,522,791,000
TOTAL LIABILITIES AND EQUITY $ 45,838,376,000 $ 45,156,486,000