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LEASES
 12 Months Ended
Dec. 31, 2024
Presentation of leases for lessee [abstract]  
LEASES
19 LEASES
19.1 Right of use
The balances rolled-forward are set out below:
 Lands Machinery and equipment BuildingsShips and boatsVehicles Total
Balances at December 31, 20223,283,156 112,553 85,756 1,623,118 4,643 5,109,226 
Additions/updates496,236 206,847 101,124 9,702 813,909 
Depreciation (1)
(386,436)(134,587)(59,448)(124,890)(2,346)(707,707)
Write-offs (2)
(12,658)(6,139)(18,797)
Balances at December 31, 20233,380,298 184,813 127,432 1,498,228 5,860 5,196,631 
Additions/updates506,373 157,542 41,235  39,076 744,226 
Depreciation (1)
(408,000)(167,312)(54,275)(124,890)(2,587)(757,064)
Write-offs (2)
(3,102)    (3,102)
Balances at December 31, 20243,475,569 175,043 114,392 1,373,338 42,349 5,180,691 
(1)The amount of depreciation related to land is substantially reclassified to biological assets to make up the formation costs.
(2)Write-off due to cancellation of contracts.

On December 31, 2024 and 2023, the Company does not have commitments to lease agreements not yet in force.
19.2 Lease liabilities
The balance of lease payables on December 31, 2024, measured at present value and discounted at the respective discount rates are set forth below:
Nature of agreement
Average rate - % p.a. (1)
Maturity (2)
Present value of liabilities
Lands and farms

12.27 October/20523,951,880 
Machinery and equipment

11.19 April/2035273,019 
Buildings

10.75 May/2031117,387 
Ships and boats

11.25 February/20392,626,083 
Vehicles

11.10 November/20284,546 
6,972,915 
(i)To determine the discount rates, quotes were obtained from financial institutions for agreements with characteristics and average terms similar to the lease agreements.
(ii)Refers to the original maturities of the agreements and, therefore, does not consider eventual renewal clauses.
The balances rolled-forward are set out below:
12/31/202412/31/2023
Opening balance6,243,782 6,182,530 
Additions744,226 813,909 
Write-offs (2)
(3,102)(18,797)
Payments(1,325,398)(1,218,399)
Accrual of financial charges (1)
700,283 664,651 
Exchange rate variations613,124 (180,112)
Closing balance6,972,915 6,243,782
Current872,228 753,399 
Non-current6,100,687 5,490,383 
(1)On December 31, 2024, the amount of R$249,135 related to interest expenses on leased lands was capitalized to biological assets to represent the formation cost (R$223,055 as of December 31, 2023).
(2)Write-off due to cancellation of contracts.
The maturity schedule for future payments 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 year
The amounts recognized are set out below:
12/31/202412/31/2023
Expenses relating to short-term assets6,477 8,005 
Expenses relating to low-value assets4,083 2,611 
10,560 10,616