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v3.22.2.2

LEASE | 6 Months Ended
--- | ---
Jun. 30, 2022
LEASE |
LEASE | 19.LEASE 19.1.Right of use The rollforward is set forth below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Machines and | ​ | ​ | ​ | Ships and | ​ | ​ | ​ | ​
​ |  | Lands |  | equipment’s |  | Buildings |  | boats |  | Vehicles |  | Total
Balance as of December 31, 2020 | ​ | 2,288,061 | ​ | 85,265 | ​ | 90,984 | ​ | 1,877,319 | ​ | 2,449 | ​ | 4,344,078
Additions/updates | ​ | 885,272 | ​ | 20,646 | ​ | 52,140 | ​ | 1,861 | ​ | 4,600 | ​ | 964,519
Depreciation (1) | ​ | (304,922) | ​ | (19,447) | ​ | (54,714) | ​ | (125,190) | ​ | (4,319) | ​ | (508,592)
Write-offs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5,982) | ​ | ​ | ​ | (5,982)
Balance as of December 31, 2021 | ​ | 2,868,411 | ​ | 86,464 | ​ | 88,410 | ​ | 1,748,008 | ​ | 2,730 | ​ | 4,794,023
Additions/updates | ​ | 435,804 | ​ | 30,829 | ​ | 16,876 | ​ | ​ | ​ | 38 | ​ | 483,547
Depreciation (1) | ​ | (169,424) | ​ | (18,196) | ​ | (29,967) | ​ | (62,449) | ​ | (1,074) | ​ | (281,110)
Balance as of June 30, 2022 | ​ | 3,134,791 | ​ | 99,097 | ​ | 75,319 | ​ | 1,685,559 | ​ | 1,694 | ​ | 4,996,460
​
1) | The amount of depreciation related to land is reclassified to biological assets to compose the formation cost.
For the six-month period ended June 30, 2022, 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, 2022, measured at present value and discounted by the respective discount rates are set forth below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Average rate - | ​ | ​ | ​ | Present value of
Nature of agreement |  | % p.a. (1) |  | Maturity (2) |  | liabilities
Lands and farms | ​ | 12.37 | ​ | September/2049 | ​ | 3,300,626
Machines and equipment’s | ​ | 11.22 | ​ | April/2035 | ​ | 178,156
Buildings | ​ | 10.38 | ​ | May/2031 | ​ | 61,971
Ships and boats | ​ | 11.39 | ​ | February/2039 | ​ | 2,453,977
Vehicles | ​ | 10.04 | ​ | October/2023 | ​ | 1,415
​ | ​ | ​ | ​ | ​ | ​ | 5,996,145
​
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 had subleasing transaction of 2 (two) ships, which were in force since February 8, 2021, which ended in January 2022, and a second transaction started on May 11, 2021, which ended in May 2022. There will be no renewal of any of the transactions. The rollforward is set forth below: ​
​ | ​ | ​
Balance as of December 31, 2020 |  | 5,191,760
Additions | ​ | 964,519
Write-offs | ​ | (5,982)
Payments | ​ | (1,012,137)
Accrual of financial charges (1) | ​ | 560,619
Exchange rate variation | ​ | 194,415
Balance as of December 31, 2021 | ​ | 5,893,194
Additions | ​ | 483,547
Payments | ​ | (499,372)
Accrual of financial charges (1) | ​ | 295,067
Exchange rate variation | ​ | (176,291)
Balance as of June 30, 2022 | ​ | 5,996,145
​ | ​ | ​
Current | ​ | 625,680
Non-current | ​ | 5,370,465
​
1) | On June 30, 2022, the amount of R$84,470 related to interest expenses on leased lands was capitalized to biological assets to compose the formation cost (R$132,685 as of December 31, 2021).
​ ​ 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,
​ |  | 2022 |  | 2021
Expenses relating to short-term assets | ​ | 1,038 | ​ | 4,329
Expenses relating to low-value assets | ​ | 571 | ​ | 2,950
​ | ​ | 1,609 | ​ | 7,279
​

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