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Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Text Block 1 [Abstract]

Summary of Financial Instruments

The following tables show the carrying amount and fair values of financial instruments, including their levels in the fair value hierarchy. It does not include fair value information for financial instruments not measured at fair value if the carrying amount is a reasonable approximation of fair value.


12.31.2024						Financial Instruments at amortized cost
		Note				Amortized Cost				Fair value				FVPL				FVOCI				Other financial liabilities				Total				Level 1				Level 2				Level 3				Total fair value
Assets
Cash and cash equivalents			5				1,561.9				—				—				1.1				—				1,563.0				—				1.1				—				1.1
Financial investments			6
Public securities							66.5				—				—				—				—				66.5				—				—				—				—
Private securities							76.5				—				23.4				—				—				99.9				—				23.4				—				23.4
Structured notes							—				—				133.2				—				—				133.2				—				133.2				—				133.2
Investment funds							—				—				21.9				103.3				—				125.2				—				125.2				—				125.2
Fixed-term deposit							468.2				—				—				—				—				468.2				—				—				—				—
Others							—				—				95.0				—				—				95.0				—				—				95.0				95.0
Trade accounts receivable, net			7				322.8				—				—				—				—				322.8				—				—				—				—
Derivative financial instruments			8				—				—				13.2				—				—				13.2				—				13.2				—				13.2
Other assets							109.9				—				—				—				—				109.9				—				—				—				—
Customer financing			9				32.3				—				0.1				—				—				32.4				—				—				0.1				0.1

							2,638.1				—				286.8				104.4				—				3,029.3				—				296.1				95.1				391.2

Liabilities
Loans and financing			19				2,491.1				2,566.1				—				—				—				2,491.1				1,835.5				730.6				—				2,566.1
Trade accounts payable			17				966.3				—				—				—				—				966.3				—				—				—				—
Trade accounts payable-Supplier finance arrangements			18				43.3				—				—				—				—				43.3				—				—				—				—
Accounts payable							125.3				—				—				—				—				125.3				—				—				—				—
Derivative financial instruments			8				—				—				86.2				17.6				—				103.8				4.0				99.8				—				103.8

							3,626.0				2,566.1				86.2				17.6				—				3,729.8				1,839.5				830.4				—				2,669.9


12.31.2023						Financial Instruments at amortized cost
		Note				Amortized Cost				Fair value				FVPL				FVOCI				Other financial liabilities				Total				Level 1				Level 2				Level 3				Total fair value
Assets
Cash and cash equivalents			5				1,629.2				—				—				—				—				1,629.2				—				—				—				—
Financial investments			6
Public securities							66.6				—				—				—				—				66.6				—				—				—				—
Private securities							105.1				—				41.3				—				—				146.4				—				41.3				—				41.3
Investment funds							—				—				27.4				—				—				27.4				—				27.4				—				27.4
Fixed-term deposit							—				—				—				350.5				—				350.5				—				350.5				—				350.4
Others							—				—				100.8				—				—				100.8				—				—				100.8				100.8
Trade accounts receivable, net			7				221.0				—				—				—				—				221.0				—				—				—				—
Derivative financial instruments			8				—				—				8.5				9.0				—				17.5				—				17.5				—				17.5
Other assets							121.6				—				—				—				—				121.6				—				—				—				—
Customer financing			9				41.6				—				21.2				—				—				62.8				—				12.4				8.8				21.2

							2,185.1				—				199.2				359.5				—				2,743.8				—				449.1				109.6				558.6

Liabilities
Loans and financing			19				2,886.4				2,812.3				—				—				—				2,886.4				1,843.0				969.3				—				2,812.3
Trade accounts payable			17				787.0				—				—				—				—				787.0				—				—				—				—
Trade accounts payable-Supplier finance arrangements			18				37.6				—				—				—				—				37.6				—				—				—				—
Accounts payable							118.5				—				—				—				15.1				133.6				—				—				15.1				15.1
Derivative financial instruments			8				—				—				125.1				0.1				—				125.2				11.3				113.9				—				125.2

							3,829.5				2,812.3				125.1				0.1				15.1				3,969.8				1,854.3				1,083.2				15.1				2,952.6

Summary of Company's Financial Assets and Liabilities


		Assets				Liabilities
At 12.31.2022			103.9				31.0

Adding shares			11.5				—
Reversal			—				(17.5	)
Exchange variation			(1.5	)			(0.8	)
Fair value adjustment			(4.3	)			2.4

At 12.31.2023			109.6				15.1

Reversal			—				(16.8	)
Exchange variation			—				(3.3	)
Fair value adjustment			(14.5	)			5.0

At 12.31.2024			95.1				—

Summary of Republic Shares


December 31, 2024		Increase				Probable scenario				Decrease
Growth rate (6% change)			96.5				95.0				93.4
Discount rate (1% change)			97.1				95.0				92.9

Summary Of Credit Loss Rates

Given this context, the provision matrix and the corresponding loss rates were determined by subgroups within the Services & Support segment as follows:


		Expected credit losses rate
		Commercial Aviation				Executive Aviation				Defense & Security				OGMA				Others
Not due			1.25	%			0.31	%			0.01	%			0.12	%			1.65	%
Up to 90 days			2.32	%			0.74	%			0.03	%			0.29	%			3.84	%
From 91 to 180 days			55.88	%			14.83	%			0.36	%			2.61	%			10.05	%
More than 180 days			100.00	%			48.52	%			0.86	%			4.69	%			38.38	%

Summary Of Expected Losses


		Past due																Expected credit losses				Total
		Not due				Up to 90 days				From 91 to 180 days				Over 180 days				Expected credit losses				Total
At December 31, 2024
Commercial Aviation			176.2				9.8				9.9				5.6				(9.1	)			192.4
Defense & Security			14.0				0.3				2.2				12.0				(0.5	)			28.0
Executive Aviation			45.8				5.7				0.5				0.1				(1.6	)			50.5
OGMA			23.9				4.9				2.3				3.2				(0.5	)			33.8
Others			14.4				3.5				0.4				0.3				(0.5	)			18.1

Total accounts receivable			274.3				24.2				15.3				21.2				(12.2	)			322.8

At December 31, 2023
Commercial Aviation			90.9				4.5				0.3				0.3				(6.4	)			89.6
Defense & Security			35.5				3.6				0.3				1.2				(0.4	)			40.2
Executive Aviation			37.6				3.1				0.4				0.1				(1.8	)			39.4
OGMA			29.6				0.9				0.1				1.1				(1.0	)			30.7
Others			19.6				1.5				0.1				0.1				(0.2	)			21.1

Total accounts receivable			213.2				13.6				1.2				2.8				(9.8	)			221.0

Summary of Additional Information Related to Authorization of Undiscounted Contractual Obligations and Commercial Commitments


		Book value				Total				Less than one year				One to three years				Three to five years				More than five years
At December 31, 2024
Loans and financing			2,491.1				3,107.6				216.5				1,275.6				699.2				916.3
Trade accounts payable			966.3				966.3				966.3				—				—				—
Trade accounts payable - Supplier finance arrangements			43.3				43.3				43.3				—				—				—
Lease liabilities			111.8				111.8				19.2				29.0				27.7				35.9
Accounts payable			125.3				125.3				100.1				22.3				0.4				2.5
Derivative financial instruments			103.8				103.8				71.9				31.9				—				—

Total			3,841.6				4,458.1				1,417.3				1,358.8				727.3				954.7

Summary of Company's Cash, Cash Equivalents, Financial Investments and Loans and Financing

As of December 31, 2024, cash, cash equivalents, financial investments and loans and financing were indexed as follows:


		Fixed Rate								Floating indexed								Total
		Amount				%				Amount				%				Amount				%
Cash, cash equivalents and financial investments			2,463.3				96.56	%			87.7				3.44	%			2,551.0				100.00	%
Loans and financing			2,331.7				93.60	%			159.4				6.40	%			2,491.1				100.00	%

Summary of Changes In Foreign Exchange Rates

Below are the amounts of financial instruments denominated by currency:


		12.31.2024				12.31.2023
Accounts payable
Brazilian Reais			15.0				23.6
U.S. dollar			104.7				102.3
Euro			5.3				6.7
Other currencies			0.3				1.0

			125.3				133.6

Loans and financing
Brazilian Reais			23.7				17.5
U.S. dollars			2,444.2				2,833.0
Euro			23.2				35.9

			2,491.1				2,886.4

Trade accounts payable
Brazilian Reais			116.2				93.7
U.S. dollars			812.9				645.1
Euro			30.7				42.0
Other currencies			6.5				6.1

			966.3				787.0

Trade accounts payable supplier finance
Brazilian reais			20.4				18.4
U.S. dollars			22.9				19.2

			43.3				37.6

Derivative financial instruments
Brazilian reais			17.8				0.1
U.S. dollars			86.0				125.0
Euro			—				0.1

			103.8				125.2

Total (1)			3,729.8				3,969.8

Cash and cash equivalents and financial investments
Brazilian reais			105.2				132.7
U.S. dollars			2,435.1				2,165.9
Euro			4.3				12.7
Other currencies			6.4				9.6

			2,551.0				2,320.9

Trade accounts receivable:
Brazilian reais			29.3				26.7
U.S. dollars			270.2				171.1
Euro			15.7				19.2
Other currencies			7.6				4.0

			322.8				221.0

Customer and commercial financing
Brazilian reais			18.9				24.2
U.S. dollars			13.5				38.6

			32.4				62.8

Other assets
Brazilian reais			22.7				21.8
U.S. dollars			81.6				86.4
Euro			5.3				12.5
Other currencies			0.3				0.9

			109.9				121.6

Derivative financial instruments
Brazilian reais			10.7				17.5
Euro			2.5				—

			13.2				17.5

Total (2)			3,029.3				2,743.8

Net exposure (1 - 2):
Brazilian reais			6.3				(69.6	)
U.S. dollars			670.3				1,262.6
Euro			31.4				40.3
Other currencies			(7.5	)			(7.4	)

Summary Of Sensitivity Analysis


						Reasonably Possible Gains (Losses) ²
		Amount exposed at 12.31.2024 ¹				Profit or loss				Equity
Interest rates risk
DI
Cash equivalents and financial investments			87.7				16.2				—
Loans and financing			(3.3	)			(0.6	)			—
EURIBOR
Loans and financing			(1.2	)			0.2				—
SIFIMA
Loans and financing			(20.0	)			2.6				—
SOFR
Loans and financing			(127.5	)			16.7				—
TR
Loans and financing			(7.4	)			(0.3	)			—
Exchange rate risk
BRL
Cash, cash equivalents and financial investiments			105.2				(3.3	)			—
Other assets			264.4				(8.2	)			—
Loans and financing			(23.7	)			0.7				—
Other liabilities			(401.1	)			12.5				—
Derivative instruments			(17.6	)			—				6.3
EURO
Derivative instruments			2.5				—				—
Market risk
EMBR
Derivative instruments			10.5				0.5				—
EVEX
Derivative instruments: warrants			(86.0	)			(1.7	)			—

(1)	The amounts exposed at December 31, 2024, consider: DI – 12.15%; EURIBOR – 2.85%; SIFMA – 3.62%; SOFR – 4.49%; TR – 2.05%; US$/BRL exchange rate of R$6.19 and EURO/US$ of US$1.04; EMBR3 of R$56.19 and EVEX of US$5.44.

(2)	The reasonably possible scenario considers: DI – 14.40%; EURIBOR – 2.46%; SIFMA – 3.14%; SOFR – 3.90%; TR – 2.14%; US$/BRL exchange rate of R$6.00 and EURO/US$ of US$1.04; EMBR3 of R$65.88 and EVEX of US$5.66.