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30. Financial Income (Expenses) (Tables) | 12 Months Ended
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Dec. 31, 2018
Financial Income Expenses |
Financial Income (Expenses) |
| 2018 | 2017 | 2016
Financial expenses |  |  |
Interest and charges on borrowings and financing – local currency (i) | (332,149) | (289,780) | (317,379)
Interest and charges on borrowings and financing – foreign currency (ii) | (171,686) | (119,100) | (113,268)
Other financial expenses (iii) | (187,563) | (97,533) | (86,372)
Income tax over international remittance | (19,779) | (17,901) | (18,823)
Inflation adjustment on borrowings and financing (iv) | (66,183) | (62,787) | (121,036)
Inflation adjustment on Sabesprev Mais deficit | - | - | (891)
Other inflation adjustments (v) | (45,193) | (50,941) | (48,634)
Interest and inflation adjustments on provisions (vi) | 14,586 | (50,238) | (133,488)
Total financial expenses | (807,967) | (688,280) | (839,891)
Financial income |  |  |
Inflation adjustment gains (vii) | 105,952 | 89,010 | 152,154
Income on short-term investments (viii) | 187,094 | 195,992 | 209,376
Interest income (ix) | 175,939 | 57,166 | 99,068
Cofins and Pasep | (22,693) | (16,366) | (23,535)
Other | 10 | 442 | 11,647
Total financial income | 446,302 | 326,244 | 448,710
Financial income (expenses), net before exchange rate changes | (361,665) | (362,036) | (391,181)
Net exchange gains (losses) |  |  |
Exchange rate changes on borrowings and financing (x) | (915,897) | (96,300) | 1,090,466
Exchange rate changes on assets | 13,235 | 336 | 371
Other exchange rate changes | (9) | (54) | (209)
Exchange rate changes, net | (902,671) | (96,018) | 1,090,628
Financial income (expenses), net | (1,264,336) | (458,054) | 699,447
| (i) | Increase of R$ 42.4 million mainly due to the lower capitalization in the investment in 2018 compared to 2017.
| (ii) | Increase of R$ 52.6 million due to the appreciation of the dollar and the yen against the real in 2018 (17.1% and 20.0%, respectively), when compared to the real appreciation occurred in 2017 (1.5% and 5.3%, respectively).
| (iii) | The variation is due to the increase in recognition of interest on Public-Private Partnership (PPP) contracts, due to the beginning of the the service provision of São Lourenço Production System (SPSL), on July 10, 2018.
| (iv) | The monetary variation derives mainly due to the higher variation of the IPCA in 2018, compared to the variation in 2017 (3.75% and 2.95%, respectively). The exposures to this rate are shown in Note 5.1 (d).
| (v) | Expenses mainly related to inflation adjustments related to the commieents required by Public-Private Partnership, program contracts commitments and agreements.
| (vi) | The decrease is mainly due to the reversion of provisions in 2018.
| (vii) | The monetary variations gains increased mainly due to the higher restatament escrow deposits.
| (viii) | The decrease is a result of the decrease in the CDI rate, of 6.89% p.a. in 2017 and 6.42% p.a. in 2018.
| (ix) | The R$ 118,773 increase in interest income is mainly due to the recognition of interest on installment agreements with customers, in 2018.
| (x) | The change in expenses mainly reflects the appreciation of the U.S. dólar and the Yen against the Real in 2018 (17.1% and 20.0%, respectively), compared to appreciation presented in 2017 (1.5% and 5.3, respectively).

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