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LEASE | 6 Months Ended
--- | ---
Jun. 30, 2021
LEASE |
LEASE | 19.LEASE 19.1.Right of use The rollforward is set forth below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Lands and | ​ | Machines and | ​ | ​ | ​ | Ships and | ​ | ​ | ​ | ​
​ |  | farms |  | equipment’s |  | Buildings |  | boats |  | Vehicles |  | Total
Balance as of December 31, 2019 | ​ | 1,769,645 | ​ | 130,051 | ​ | 45,999 | ​ | 1,904,455 | ​ | 87 | ​ | 3,850,237
Additions/updates | ​ | 858,085 | ​ | 45,624 | ​ | 90,616 | ​ | 95,768 | ​ | 2,675 | ​ | 1,092,768
Depreciation | ​ | (265,091) | ​ | (18,078) | ​ | (43,903) | ​ | (122,904) | ​ | (313) | ​ | (450,289)
Write-offs | ​ | (74,578) | ​ | (72,332) | ​ | (1,728) | ​ | ​ | ​ | ​ | ​ | (148,638)
Balance as of December 31, 2020 | ​ | 2,288,061 | ​ | 85,265 | ​ | 90,984 | ​ | 1,877,319 | ​ | 2,449 | ​ | 4,344,078
Additions/updates | ​ | 443,211 | ​ | 450 | ​ | 32,436 | ​ | (836) | ​ | 4,412 | ​ | 479,673
Depreciation (1) | ​ | (145,589) | ​ | (7,202) | ​ | (27,166) | ​ | (62,843) | ​ | (3,256) | ​ | (246,056)
Write-offs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5,982) | ​ | ​ | ​ | (5,982)
Balance as of June 30, 2021 | ​ | 2,585,683 | ​ | 78,513 | ​ | 96,254 | ​ | 1,807,658 | ​ | 3,605 | ​ | 4,571,713
​
1) | On June 30, 2021, the amount of R$145,558 related to land was reclassified to biological assets to compose the formation cost (R$118,286 as of June 30, 2020).
For the six-month period ended June 30, 2021, the Company is not committed to lease agreements not yet in force. 19.2. Lease liabilities The balance of lease payables for the six-month period ended June 30, 2021, measured at present value and discounted by the respective discount rates are set forth below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Present value of
Nature of agreement |  | Average rate - % p.a. (1) |  | Maturity (2) |  | liabilities
Lands and farms | ​ | 11.89 | ​ | April/2049 | ​ | 2,692,888
Machines and equipment’s | ​ | 11.05 | ​ | April/2035 | ​ | 168,348
Buildings | ​ | 9.70 | ​ | March/2031 | ​ | 84,663
Ships and boats | ​ | 11.39 | ​ | February/2039 | ​ | 2,417,826
Vehicles | ​ | 10.04 | ​ | October/2023 | ​ | 3,269
​ | ​ | ​ | ​ | ​ | ​ | 5,366,994
​
1) | To determine the discount rates, quotes were obtained from financial institutions for agreements with characteristics and average terms like the lease agreements.
2) | Refers to the original maturities of the agreements and, therefore, do not consider eventual renewal clause.
​ ​ The Company have renewed the subleasing transaction of 2 (two) ships, under the same conditions as before, for another period of 10 months and the amount of US$7,500 (equivalent to R$40,253 on the transaction date), only replacing the ships, due to the need for planned operational maintenance. The transaction has been effective since February 08, 2021 and May 11, 2021, for each of the ships. The rollforward is set forth below: ​
​ | ​ | ​
Balance as of December 31, 2019 |  | 3,984,070
Additions | ​ | 1,092,768
Write-offs | ​ | (148,638)
Payments | ​ | (824,245)
Accrual of financial charges (1) | ​ | 486,286
Exchange rate variation | ​ | 601,519
Balance as of December 31, 2020 | ​ | 5,191,760
Additions | ​ | 479,673
Write-offs | ​ | (5,982)
Payments | ​ | (475,483)
Accrual of financial charges (1) | ​ | 273,800
Exchange rate variation | ​ | (96,774)
Balance as of June 30, 2021 | ​ | 5,366,994
​ | ​ | ​
Current | ​ | 593,691
Non-current | ​ | 4,773,303
​
1) | On June 30, 2021, the amount of R$61,260 related to interest expenses on leased lands was capitalized to biological assets to compose the formation cost (R$37,040 as of June 30, 2020).
​ ​ The maturity schedule of future payment not discounted to present value related to lease liabilities is disclosed in Note 4.2. 19.2.1. Amounts recognized in the statement of income for the period The amounts recognized are set for the below:
​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | June 30,
​ |  | 2021 |  | 2020
Expenses relating to short-term assets | ​ | 4,329 | ​ | 2,531
Expenses relating to low-value assets | ​ | 2,950 | ​ | 6,428
​ | ​ | 7,279 | ​ | 8,959
​

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