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31. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (Details 3) R$ in Millions, $ in Millions | 12 Months Ended |
--- | --- | ---
Dec. 31, 2020 USD ($) | Dec. 31, 2020 BRL (R$) | Dec. 31, 2019 BRL (R$) | Dec. 31, 2018 BRL (R$)
FinancialInstrumentsAndRiskManagementLineItems [Line Items] |  |  |  |  |  |
Unrealized gain/loss Carrying amount |  |  | R$ 2,360 | R$ 922 |  |
Unrealized gain/loss fair value |  |  | 2,949 | 1,691 |  |
TOTAL CURRENT |  |  | 15,456 | 10,354 | [1] | R$ 27,796
Non-current asset |  |  | R$ 2,426 | 1,456 |  |
Over the counter [member] |  |  |  |  |  |
FinancialInstrumentsAndRiskManagementLineItems [Line Items] |  |  |  |  |  |
Assets | [2] | US$ exchange variation + Rate (9.25% p.y.) | US$ exchange variation + Rate (9.25% p.y.) |  |  |
Liability | [2] | Local currency + R$ 150.49% of CDI | Local currency + R$ 150.49% of CDI |  |  |
Maturity period |  | Interest: Half-yearly Principal: Dec. 2024 | Interest: Half-yearly Principal: Dec. 2024 |  |  |
Trade market |  | Over the counter | Over the counter |  |  |
Unrealized gain/loss Carrying amount |  |  | R$ 1,772 | 814 |  |
Unrealized gain/loss fair value |  |  | R$ 2,110 | 1,235 |  |
Over the counter [member] | USD |  |  |  |  |  |
FinancialInstrumentsAndRiskManagementLineItems [Line Items] |  |  |  |  |  |
Notional amount | $ | [3] | $ 1,000 |  |  |  |
Over the counter one [member] |  |  |  |  |  |
FinancialInstrumentsAndRiskManagementLineItems [Line Items] |  |  |  |  |  |
Assets | [2] | US$ exchange variation + Rate (9.25% p.y.) | US$ exchange variation + Rate (9.25% p.y.) |  |  |
Liability | [2] | Local currency + R$125.52% of CDI | Local currency + R$125.52% of CDI |  |  |
Maturity period |  | Interest: Half-yearly Principal: Dec. 2024 | Interest: Half-yearly Principal: Dec. 2024 |  |  |
Trade market |  | Over the counter | Over the counter |  |  |
Unrealized gain/loss Carrying amount |  |  | R$ 588 | 108 |  |
Unrealized gain/loss fair value |  |  | R$ 839 | R$ 456 |  |
Over the counter one [member] | USD |  |  |  |  |  |
FinancialInstrumentsAndRiskManagementLineItems [Line Items] |  |  |  |  |  |
Notional amount | $ | [3] | $ 500 |  |  |  |
[1] | See note 2.8.
[2] | For the US$1 billion Eurobond issued on December 2017 (i) for the principal, a call spread was contracted, with floor at R$ 3.25/US$ and ceiling at R$ 5.00/US$ and (ii) a swap was contracted for the total interest, for a coupon of 9.25% p.a. at an average rate equivalent to 150.49% of the CDI. For the additional US$500 issuance of the same Eurobond issued on July 2018 (1) a call spread was contracted for the principal, with floor at R$ 3.85/US$ and ceiling at R$ 5.00/US$ and (2) a swap was contracted for the interest, resulting in a coupon of 9.25% p.a. with an average rate equivalent to 125.52% of the CDI rate The upper limit for the exchange rate in the hedge instrument contracted by the Company for the principal of the Eurobonds is R$ 5.00/US$. The instrument matures in December 2024. If the USD/BRL exchange rate is still over R$ 5.00 in December 2024, the company will disburse, on that date, the difference between the upper limit of the protection range and the spot dollar on that date. The Company is monitoring the possible risks and impacts associated with the dollar being valued above R$ 5.00, and assessing various strategies for mitigating the foreign exchange risk up to the maturity date of the transaction. The hedge instrument fully protects the payment of six-monthly interest, independently of the USD/BRL exchange rate.
[3] | In millions of US$.

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