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Investments | 12 Months Ended
--- | ---
Dec. 31, 2018
Investments |
Investments | 14. Investments
|  | Joint Venture
|  | Ibema
Balance at December 31, 2016 |  | 873
Equity method |  | 5,872
Other |  | 19
Balance at December 31, 2017 |  | 6,764
Equity method |  | 7,574
Balance at December 31, 2018 |  | 14,338
The financial information of joint venture in 2018 and 2017 are shown below:
|  | Joint Venture |
|  | Ibema |
|  | 12/31/2018 |  | 12/31/2017 |
Equity interest % |  | 49.9 | % | 49.9 | %
Total assets |  | 335,029 |  | 334,827 |
Total liabilities |  | 317,572 |  | 334,009 |
Adjusted equity (a) |  | 17,458 |  | 818 |
Net income for the year |  | 16,415 |  | 9,790 |
| (a) |  | Adjusted for unrealized profits with parent company.
14.1. Business Combination Suzano incurred costs related to the acquisition described in the following notes 14 i) and ii) of these assets, which were included in the statement of income for the period when incurred. Net assets and intangibles were evaluated by Management and an independent appraisers was hired to assist in determining the fair values. The Income Approach methodology was used to determine the fair value of the assets and liabilities of Facepa and PCH Mucuri, which is based on the preparation of the future cash flow discounted to present value. This method considers that the fair value of an asset is related to the present value of the net cash flows generated by the asset in the future. (i)Facepa On March 1, 2018, the Company acquired direct and indirect control of 92.84% of the shares of Facepa - Fábrica de Papel da Amazônia S.A. The net assets acquired are presented below, and the accounting numbers are very close to the estimated fair value numbers:
Facepa Fabrica de Papel da Amazônia S.A.
|  | 3/1/2018
Asset |  |
Current |  |
Cash and cash equivalents |  | 12,743
Trade accounts receivable |  | 49,315
Inventories |  | 20,162
Recoverable taxes |  | 13,710
Other assets |  | 2,011
Total current assets |  | 97,941
Non-current |  |
Recoverable taxes |  | 425
Judicial deposits |  | 1,341
Other assets |  | 290
Investment |  | 423
Property, plant and equipment |  | 77,431
Intangible |  | 211
Total non-current assets |  | 80,121
Total assets |  | 178,062
|  | 3/1/2018
Liabilities |  |
Current |  |
Trade accounts payable |  | 21,814
Loans and financing |  | 5,277
Taxes payable |  | 8,087
Advances to suppliers |  | 595
Dividends payable |  | 1,717
Trade accounts payable with transaction |  | 9,762
Other liabilities |  | 1,214
Total current liabilities |  | 48,466
Non-Current |  |
Loans and financing |  | 21,399
Labor provision |  | 1,350
Other liabilities |  | 418
Total non-current liabilities |  | 23,167
Total net |  | 106,429
Total liabilities |  | 178,062
The assets identified in the valuation, based on their estimated fair values, are presented as follows:
|  | Values
Net assets of Facepa |  | 106,429
Net assets acquired of AGFA (a) |  | 589
Intangible - Trademarks |  | 21,598
Intangible - Customer relationship |  | 28,505
Intangible - Non-Compete |  | 3,374
Property, plant and equipment |  | 49,814
Total net assets at fair value |  | 210,310
Total consideration transferred / to be transferred |  | 307,876
Non-controlling interest (b) |  | 15,016
Goodwill on business combination |  | 112,582
| (a) |  | As mentioned in Note 1.1 b) iii), AGFA is a non-operating company and was acquired in the Facepa transaction, considering 100% of the shares. The balance of the net assets refer to accounts receivable with Facepa and balance in bank account.
| (b) |  | The non-controlling interest’s was proportionate share of the acquired entity’s net identifiable assets.
As of December 31, 2018, the non-controlling interest, net of amortization and depreciation equivalent to R$ 13,807. Goodwill, which corresponds to 36.6% of the consideration transferred, is attributable mainly to the expectation of future profitability due to the operational synergies related to the tissue segment. If the acquisition had occurred on January 1, 2018, consolidated pro-forma revenue and loss for the period ended 30 September 2018 would have been R$ 271,413 (unaudited) and R$ 3,759 respectively (unaudited). This information regarding net revenue and loss was obtained through the aggregation of the amounts of the acquiring and acquired Companies (ii)PCH Mucuri On February 19, 2018, the Company acquired control of 100.00% of the shares of PCH Mucuri. The net assets acquired are presented below, and the accounting numbers are very close to the fair value numbers:
Mucuri Energética S.A.
|  | 2/19/2018
Asset |  |
Current |  |
Cash and cash equivalents |  | 8,692
Trade accounts receivable |  | 2,663
Recoverable taxes |  | 111
Prepaid expenses |  | 17
Total current assets |  | 11,483
Non-current |  |
Judicial deposits |  | 1,682
Financial investments |  | 2,472
Property, plant and equipment |  | 110,459
Intangible |  | 118
Total non-current assets |  | 114,731
Total assets |  | 126,214
|  | 2/19/2018
Liabilities |  |
Current |  |
Trade accounts payable |  | 255
Loans and financing |  | 5,439
Taxes payable |  | 540
Sectoral provisions |  | 12,328
Other liabilities |  | 73
Total current liabilities |  | 18,635
Non-current |  |
Loans and financing |  | 47,808
Provision for contingency |  | 12,050
Total non-current liabilities |  | 59,858
Total net asset |  | 47,721
Total liabilities |  | 126,214
The net assets evaluated based on their fair values are shown below:
|  | Values
Net assets acquired |  | 47,721
Total net assets at fair value |  | 47,721
Total consideration transferred |  | 48,028
Goodwill on business combination |  | 307
If the acquisition had occurred on 1 January 2018, consolidated pro-forma revenue and loss for the period ended 30 September 2018 would have been R$ 19,040 (unaudited) and R$ 110,907 (unaudited) respectively. This information regarding net revenue and profit was obtained through the aggregation of the amounts of the acquiring and acquired companies and does not represent the actual amounts consolidated for the period. The net revenue and profit that impacted the consolidation are R$ 15,803 and R$ 1,915, respectively.

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