XML 20 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
Cash and Cash Equivalents
 12 Months Ended
Dec. 31, 2017
Text block1 [abstract]  
Cash and Cash Equivalents
6. CASH AND CASH EQUIVALENTS

 

     2017      2016  

Bank accounts

      113        101  

Cash equivalents

      

Bank certificates of deposit (CDBs) (1)

      686        524  

Overnight (2)

      227        370  

Others

      4        —    
  

 

 

     

 

 

  
     917        894  
  

 

 

     

 

 

  
     1,030        995  
  

 

 

     

 

 

  

 

(1) Bank Certificates of Deposit (Certificados de Depósito Bancário, or CBDs), accrued intetest at 50% to 106%, of the CDI Rate (Interbank Rate for Interbank Certificates of Deposit or Certificados de Depósito Inter-bancário – CDIs) published by the Custody and Settlement Chamber (Câmara de Custódia e Liquidação, or Cetip) in 2017 (75% to 106% in 2016). For these CDBs, the Company has repo transactions which state, on their trading notes, the bank’s commitment to repurchase the security, on demand, on the maturity date of the transaction, or earlier, at the the Company’s option.
(2) Overnight transactions are repos available for redemption on the following day. They are usually backed by Treasury Bills, Notes or Bonds and referenced to a pre-fixed rate of 6.89%, in 2017 (13.64% in 2016). Their purpose is to settle the Company’s short-term obligations, or to be used in the acquisition of other assets with better return to replenish the portfolio.