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Consolidated Statements of Cash Flows - BRL (R$)
R$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities          
Income before income tax R$ 516,531 R$ 303,227 R$ 1,544,109 R$ 640,728 R$ 575,507
Adjustments to reconcile income before income taxes          
Depreciation of property and equipment and right-of-use assets 15,878 8,102 53,080 24,470 9,338
Amortization of intangible assets 15,648 7,055 37,630 28,318 18,065
Loss on write-off of property, equipment and intangible assets 3,452 112 11,245 19,915 4,491
Expected credit losses on accounts receivable and other financial assets 21,962 (180) 9,410 8,220 4,347
(Reversal of) Provision for contingencies, net (387) 11 (1,601) 7,897 3,531
Net foreign exchange differences (19,510) 1,528 3,636 (25,832) 36,271
Grant of share-based plan 23,221   5,371    
Interest accrued 20,087 16,898 86,862 64,330 8,134
Changes in assets and liabilities          
Securities (assets and liabilities) (6,676,164) 605,953 (20,188,931) (2,929,021) (958,894)
Derivative financial instruments (assets and liabilities) 988,979 95,830 825,719 (492,024) (209,030)
Securities trading and intermediation (assets and liabilities) 3,708,191 840,841 4,201,246 1,969,621 1,036,957
Securities purchased (sold) under resale (repurchase) agreements 46,190 (1,809,388) (2,919,480) (5,635,630) 262,377
Accounts receivable 6,197 62,708 (243,893) (92,809) (70,589)
Loan operations (63,520)        
Prepaid expenses (15,811) 2,776 7,040 (31,380) (19,565)
Other assets 52,295 13,173 (14,548) (58,964) (7,917)
Securities sold under repurchase agreements     8,997,713 6,126,676 (258,118)
Structured operations certificates 130,987        
Accounts payable (1,616) (1,482) 132,235 63,000 3,163
Social and statutory obligations (217,971) (73,134) 241,033 81,253 62,274
Tax and social security obligations (33,554) (82,429) (9,223) 4,463 (2,459)
Private pension liabilities 1,395,998 33,867 3,743,031 16,059  
Other liabilities 141,012 (9,598) 98,497 14,524 (8,901)
Cash from operations 58,095 15,870 (3,379,819) (196,186) 488,982
Income tax paid (196,585) (86,579) (402,574) (202,443) (219,446)
Contingencies paid (234) (318) (3,172) (3,933) (7,169)
Interest paid (572) (3,141) (28,427) (54,185)  
Net cash flows from (used in) operating activities (139,296) (74,168) (3,813,992) (456,747) 262,367
Investing activities          
Acquisition of intangible assets (19,914) (8,061) (88,949) (53,517) (20,627)
Acquisition of property and equipment (20,746) (11,375) (72,499) (83,149) (30,369)
Acquisition of subsidiaries, net of cash acquired       (10,413) (404,631)
Net cash flows used in investing activities (40,660) (19,436) (161,448) (147,079) (455,627)
Financing activities          
Proceeds from borrowings       325,370 826,000
Payments of borrowings and lease liabilities (26,058) (32,276) (123,332) (689,634)  
Proceeds from issuance of debentures     400,000 400,000  
Payments of debentures     (11,815)    
Dividends paid to owners of the parent     (500,000) (325,000) (189,998)
Proceeds from capital contributions, net     4,482,002 673,294  
Net subscriptions received (redemptions paid)-non-controllinginterests         (45,550)
Transactions with non-controlling interests 1,844 (92) (1,855) 146 (2,078)
Dividends paid to non-controlling interests (3,432) (490) (11,143) (4,090) (3,858)
Net cash flows from (used in) financing activities (27,646) (32,858) 4,233,857 380,086 584,516
Net increase (decrease) in cash and cash equivalents (207,602) (126,462) 258,417 (223,740) 391,255
Cash and cash equivalents at the beginning of the fiscal year 887,796 626,863 626,863 835,493 440,128
Effects of exchange rate changes on cash and cash equivalents 31,009 70 2,516 15,110 4,110
Cash and cash equivalents at the end of the fiscal year 711,203 500,471 887,796 626,863 835,493
Cash 249,950 224,997 109,922 68,407 153,218
Securities purchased under agreements to resell 309,053 133,028 654,057 488,809 420,958
Interbank certificate deposits R$ 152,200 R$ 142,446 R$ 123,817 R$ 69,647 R$ 261,317