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LEASE (Tables)

6 Months Ended

Jun. 30, 2022

LEASE

Schedule of right of use assets

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.

Schedule of present value of lease liabilities


		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.

Summary of changes in lease liabilities


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).

Schedule of expenses recognised in profit or loss

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