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Related parties transactions | 12 Months Ended
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Dec. 31, 2018
Related parties transactions |
Related parties transactions | 11. Related parties transactions For transactions with related parties, it is determined that the usual market prices and conditions for these transactions are observed, as well as the corporate governance practices adopted by the Company and those recommended and/or required by the legislation.
Related parties |  | Type of operation |  | Type of interest
Bexma Comercial Ltda. ("Bexma") |  | Administrative expenses |  | Controlled by key management personnel
Bizma Investimentos Ltda. ("Bizma") |  | Investment fund management |  | Controlled by key management personnel
Central Distribuidora de Papéis Ltda. ("Central") |  | Sale of paper |  | Controlled by close family personnel
Ibema Cia Brasileira de Papel ("Ibema") |  | Sale of paper |  | Joint venture
Instituto Ecofuturo - Futuro para o Desenvolvimento Sustentável ("Ecofuturo") |  | Social services |  | Controlled by key management personnel
IPLF Holding S.A. ("IPLF") |  | Shared corporate costs and expenses |  | Controlled by key management personnel
Lazam MDS Corretora e Adm. Seguros S.A. ("Lazam-MDS") |  | Insurance advisory and consulting |  | Controlled by key management personnel
Mabex Representações e Participações Ltda. ("Mabex") |  | Aircraft services (freight) |  | Controlled by key management personnel
Nemonorte Imóveis e Participações Ltda. ("Nemonorte") |  | Real estate advisory |  | Controlled by key management personnel
Suzano Holding S.A. ("Holding") |  | Grant of suretyship and administrative costs |  | Immediate Parent
11.1 Balance Sheets and Transactions on December 31, 2018
|  | Assets |  | Liabilities |  | Income Statement
|  | Current |  | Current |  |  |  |
|  | Trade |  | Trade |  |  |  |
Item of balance sheet |  | receivables |  | payables |  | Income |  | Expenses
Administrators |  | — |  | — |  | 541 |  | —
Holding |  | 3 |  | 128 |  | 901 |  | (13,624)
IPLF |  | — |  | — |  | 4 |  | —
Nemonorte |  | — |  | — |  | — |  | (491)
Bexma |  | 1 |  | — |  | 10 |  | —
Lazam - MDS |  | — |  | — |  | — |  | (31)
Ecofuturo |  | — |  | 33 |  | 2 |  | (4,186)
Ibema |  | 36,721 | (a) | 1,643 |  | 116,566 | (a) | (9,314)
Bizma |  | 2 |  | — |  | 16 |  | —
Mabex |  | — |  | — |  | — |  | (390)
|  | 36,727 |  | 1,804 |  | 118,040 |  | (28,036)
| (a) |  | Pulp and paper sales operations.
11.2 Balance Sheets and Transactions on December 31, 2017
|  | Assets |  | Liabilities |  | Income Statement
|  | Current |  | Current |  |  |  |
|  | Trade |  | Trade |  |  |  |
Item of balance sheet |  | receivables |  | payables |  | Income |  | Expenses
Administrators |  | — |  | — |  | 221 |  | —
Holding |  | — |  | 141 |  | 374 |  | (14,177)
IPLF |  | — |  | — |  | 28 |  | —
Central |  | — |  | — |  | 4,056 |  | —
Nemonorte |  | — |  | — |  | — |  | (1,233)
Mabex |  | — |  | — |  | — |  | (294)
Bexma |  | — |  | — |  | 13 |  | —
Lazam - MDS |  | — |  | — |  | — |  | (372)
Ecofuturo |  | 4 |  | 45 |  | 5 |  | (3,789)
Ibema |  | 28,628 | (a) | 6,954 |  | 83,706 | (a) | (38,707)
|  | 28,632 |  | 7,140 |  | 88,403 |  | (58,572)
| (a) |  | Pulp and paper sales operations.
11.3 Management compensation In the year ending December 31, 2018 and 2017, expenses related to the compensation of key management personnel which include the Board of Directors, the Audit Committee, Fiscal Council and Board of Executive Officers, in addition to certain executives, recognized in the statement of income for the year, are shown below:
|  | 12/31/2018 |  | 12/31/2017 |  | 12/31/2016
Short-term benefits |  |  |  |  |  |
Salary or compensation |  | 48,663 |  | 24,774 |  | 20,593
Direct and indirect benefits |  | 2,828 |  | 2,959 |  | 1,997
Bonus |  | 16,752 |  | 26,819 |  | 20,181
|  | 68,243 |  | 54,552 |  | 42,771
Long-term benefits |  |  |  |  |  |
Share-based compensation |  | 62,150 |  | 33,554 |  | 29,323
|  | 62,150 |  | 33,554 |  | 29,323
|  | 130,393 |  | 88,106 |  | 72,094
Short-term benefits include fixed compensation (salaries and fees, vacation, mandatory “13 th salary” bonus), and payroll charges (company share of contributions to social security – INSS) and variable compensation such as profit sharing, bonus and benefits (company car, health plan, meal voucher, grocery voucher, life insurance and private pension plan). Long-term benefits include the stock option plan and phantom shares for executives and key Management members, in accordance with the specific regulations (see Note 23).

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