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Right-of-use Asset and Lease Liability
 12 Months Ended
Dec. 31, 2023
Right-of-use Asset And Lease Liability  
Right-of-use Asset and Lease Liability

 

26.Right-of-use Asset and Lease Liability

 

26.1Right-of-use asset

 

Schedule of right of use asset            
Consolidated Balance as of Additions Amorti- Loss on Reclassi- Balance as of
  January 1, 2023 zation  disposal fication (a) December 31, 2023
             
Real estate                   136,489            51,192 (11,874)            (2,737)          (10,456)                       162,614
Vehicles                   113,018            27,065 (54,082)                      -               (526)                         85,475
Equipment                     11,873              4,629 (11,161)               (323)               (507)                           4,511
                    261,380            82,886 (77,117)            (3,060)          (11,489)                       252,600
(a) Reclassification to Assets classified as held for sale (Note 39)    

 

           
Consolidated  Balance as of Additions   Loss on Balance as of
  January 1, 2022 Amortization  disposal December 31, 2022
           
Real estate                   120,929                 27,770 (10,679)                 (1,531)                       136,489
Vehicles                     67,833                 90,399 (45,044)                    (170)                       113,018
Equipment                     15,294                   5,522 (8,943)                          -                         11,873
                    204,056               123,691 (64,666)                 (1,701)                       261,380

 

 

 

26.2Lease liability

 

26.2.1Changes in lease liability

 

 
Balance as of January 1, 2022             212,734
Additions             123,691
Charges                 20,462
Amortization - principal             (60,200)
Payment - charges             (21,151)
Loss on disposal               (1,780)
Balance as of December 31, 2022             273,756
Additions               82,886
Charges                 25,506
Amortization - principal             (72,334)
Payment - charges             (25,465)
Loss on disposal               (2,334)
Reclassification (a)             (11,573)
Balance as of December 31, 2023             270,442
Current               49,742
Noncurrent             220,700
(a) Reclassification to Liabilities classified as held for sale (Note 39).

 

The Company defines the discount rate based on the nominal interest rate applied to the last fundraising, disregarding subsidized or incentivized funding. The interest rates applied range from 3.58% to 15.55% p.a.

 

26.2.2Maturity of noncurrent installments

 

Schedule of maturity of noncurrent installments  
2025                 40,844
2026                 38,160
2027                 18,002
2028                 15,549
2029                 13,809
After 2029               229,837
Undiscounted amounts               356,201
Imputed interest             (135,501)
Lease liabilities balance               220,700

  

26.2.3Potential PIS/Cofins recoverable rights

 

The following table shows the potential PIS/Cofins recoverable rights embedded in the leasing consideration, according to the expected payment periods.

Schedule of potential right to pis/cofins recoverable    
Cash Flows  Nominal value   Present value 
Lease consideration                482,953                 270,442
Potential Pis/Cofins                  34,299                   20,647

 

 

26.3Impact of forecast inflation on discounted cash flows

 

In accordance with IFRS 16, in measuring and remeasuring lease liabilities and right-of-use assets, the Company used the discounted cash flow method without considering forecast future inflation, according to the prohibition imposed by the standard.

 

However, given the current reality of long-term interest rates in the Brazilian economic environment, the table below shows the comparative balances between the information recorded in accordance with IFRS 16 and the amount that would be recorded considering forecast inflation:

Schedule of impact of forecast inflation on discounted cash flows      
Consolidated Balance in accordance with IFRS 16 Inflation projected balance %
Lease liabilities                                 270,442                                 333,597 23.35%
Right to use assets                                 252,600                                 286,433 13.39%
Financial expense                                   24,290                                   29,653 22.08%
Amortization expense                                   74,582                                   79,601 6.73%

 

 

26.4Commitments from leases and rentals

 

For leases of low value assets, such as computers, printers and furniture, short-term leases, as well as for leases of land for wind power generation projects, whose payment is made based on variable remuneration, the amounts are recognized in the statement of income as operating costs and/or expenses (Note 31.6). The balance of commitments from leases and rentals is shown below:

 

 

Schedule of commitments from leases and rentals        
Consolidated Less than    Over   
   1 year   1 to 5 years   5 years   12.31.2023 
Commitments from leases and rentals                11,050                47,613              257,488              316,151

 

 

26.5Receivables from leases

 

Schedule of receivable from leases        
Consolidated Less than    Over  Total 
   1 year   1 to 5 years   5 years   12.31.2023 
Facilities sharing                   2,082                   8,327                 26,665                 37,074