XML 44 R7.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - BRL (R$)
R$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flow from operating activities      
Net income (loss) for the year R$ (2,814,742) R$ 319,814 R$ 1,820,994
Adjustment to      
Depreciation, depletion and amortization (note 30) 4,286,730 1,563,223 1,402,778
Amortization of fair value adjustment on business combination with Fibria/Facepa/Ibema (note 30) 3,651,005    
Amortization of right of use (note 30) 154,217    
Amortization of fair value adjustment on business combination with Fibria classified at financial results (note 27) (38,960)    
Interest expense on lease liabilities 226,103    
Results from sale, disposals and provision for losses (impairment) of property, plant and equipment and biological assets, net (note 30) 77,930 13,580 37,702
Income from associates and joint ventures (note 14.2) (31,993) (7,576) (5,872)
Exchange rate and monetary variations, net (note 27) 1,964,927 1,446,207 2,273
Interest expenses with financing and loans, debentures and debentures, net (note 27) 3,358,806 872,208 852,030
Accrual of interest on marketable securities (392,018) (127,037) (24,234)
Amortization of fundraising costs (notes 18.2) 185,807 44,499 49,517
Derivative (gains) losses, net (note 27) 1,075,252 2,735,196 (73,271)
Tax credits - gains in tax lawsuit (ICMS from the PIS/COFINS calculation basis) (note 9 and 20.3) (128,115)    
Fair value adjustment of biological assets (note 12 and 30) (185,399) 129,187 (192,504)
Deferred income tax and social contribution expenses (note 12.1) (1,528,571) (741,084) 241,869
Interest on employee benefits (note 20.2) 44,496 35,920 38,022
Provision/(reversal) for judicial liabilities 26,807 13,285 35,645
Allowance for doubtful accounts, net (note 7.3) (12,286) 6,450 32,397
Provision for (reversal of) inventory losses and write-offs   (25,096) 26,653
Partial write-off of intangible assets (8.1) 107,269   18,845
Provision for loss of ICMS credits, net 129,283    
Other (56,517) 235,081 60,267
Decrease (increase) in assets      
Trade accounts receivables 991,476 (186,026) (726,808)
Inventories 873,420 (622,151) 115,493
Recoverable taxes 241,934 50,960 8,702
Other assets (26,478) (12,720) 414,818
Increase (decrease) in liabilities      
Trade accounts payable (1,555,697) 1,473 63,236
Tax payable 240,871 432,603 265,698
Payroll and charges (234,948) (100,124) (135,053)
Other liabilities (62,294) 225,616 (133,819)
Cash provided by operations, net 10,568,315 6,303,488 4,195,378
Payment of interest with financing, loans and debentures (2,977,957) (806,758) (1,006,869)
Interest received from marketable securities 377,804    
Payment of income taxes (391,725) (327,282) (121,177)
Net cash provided by operating activities 7,576,437 5,169,448 3,067,332
Cash flows from investing activities      
Additions to property, plant and equipment (note 15) (2,001,674) (1,251,486) (859,880)
Additions to intangible assets (note 16) (17,715) (7,217) (8,054)
Additions to biological assets (note 13) (2,849,038) (1,164,995) (912,368)
Proceeds from sales of assets 198,644 95,481 84,694
Increase of capital in subsidiaries and associates (45,856)    
Marketable securities, net 19,378,893 (19,340,022) 687,274
Advance for acquisition of wood from operations with development (355,447) 1,402 527
Acquisition of subsidiaries, net cash (note 1.2.1.2) (26,002,540) (294,473)  
Other investments (286)    
Net cash used in investing activities (11,695,019) (21,961,310) (1,007,807)
Cash flow from financing activities      
Proceeds from loans, financing and debentures (note 18.2) 18,993,837 25,645,822 2,561,954
Payment of derivative transactions (note 4.5.4) (135,449) (1,586,415) 39,695
Payment of loans, financing and debentures (note 18.2) (13,994,708) (3,738,577) (4,533,736)
Payment of dividends (606,632) (210,205) (570,568)
Payment of leases (note 19.2) (645,071)    
Sale of treasury shares to meet share-based compensation plan (879) 8,514 8,514
Liabilities for assets acquisitions and subsidiaries (479,480) (84,090) (117,865)
Repurchase of treasury shares     (83)
Other financing 10,191    
Cash provided (used) by financing activities, net 3,141,809 20,035,049 (2,612,089)
Exchange variation on cash and cash equivalents (161,553) 67,433 14,700
Increase (reduction) in cash and cash equivalents (1,138,326) 3,310,620 (537,864)
Cash and cash equivalents at the beginning for the year 4,387,453 1,076,833 1,614,697
Cash and cash equivalents at the end for the year 3,249,127 4,387,453 1,076,833
Statement of the increase (reduction) in cash and cash equivalents R$ (1,138,326) R$ 3,310,620 R$ (537,864)