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2. BASIS OF PREPARATION (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of expected impact of initial application of new standards or interpretations [abstract]

Statement of financial position

The main effects of these changes on the accounting policy in accordance with IAS 08 – Accounting Policies, Changes in Accounting Estimates and Errors on the restated financial statements as of December 31, 2019 and January 01, 2019 are as follows:

Statement of financial position		December 31, 2019																January 01,2019
			As presented			Reclassification				Adjustment				Restated				As presented				Reclassification				Adjustment				Restated
CURRENT ASSET
Concession financial assets (1)			1,080				(189	)			—				891				1,071				(181	)			—				890
Concession contract assets (1) (2)			172				189				215				576				131				181				170				482
Others			8,887				—				—				8,887				26,594				—				—				26,594
Total current assets			10,139				—				215				10,354				27,796				—				170				27,966
NON-CURRENT ASSETS
Concession financial assets (1)			4,851				(1,092	)			—				3,759				4,927				(1,115	)			—				3,812
Concession contract assets - transmission (1) (2)			1,024				1,092				383				2,499				999				1,115				313				2,427
Others			33,914				—				—				33,914				26,134				—				—				26,134
Total non-current assets			39,789				—				383				40,172				32,060				—				313				32,373
TOTAL ASSETS			49,928				—				598				50,526				59,856				—				483				60,339

		December 31, 2019												January 01,2019
Statement of financial position		As presented				Adjustment				Restated				As presented				Adjustment				Restated
CURRENT LIABILITIES
Taxes payable (3)			359				52				411				409				44				453
Others			7,554				—				7,554				22,984				—				22,984
Total current liabilities			7,913				52				7,965				23,393				44				23,437
NON-CURRENT LIABILITIES
Taxes payable (3)			1				226				227				30				219				249
Deferred income tax and social contribution tax (4)			661				109				770				728				75				803
Others			25,461				—				25,461				19,766				—				19,766
Total non-current liabilities			26,123				335				26,458				20,524				294				20,818
TOTAL LIABILITIES			34,036				387				34,423				43,917				338				44,255
EQUITY
Retained earnings			—				212				212				—				145				145
Others			15,887				—				15,887				14,579				—				14,579
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT (5)			15,887				212				16,099				14,579				145				14,724
NON-CONTROLLING INTERESTS			4				—				4				1,360				—				1,360
TOTAL EQUITY			15,891				212				16,103				15,939				145				16,084

(1) Reclassification of the financial portion of the Basic Network of the Existing System (‘BNES’) asset to contract asset, since it was included into the remuneration base, and, thus, it is subject to the efficiency mechanisms applied to the operation and maintenance performance obligation.

(2) Recognition of the profit margin associated to the performance obligation to construct and upgrade the transmission infrastructure, as well as the interest revenue resulting from the financing component in the contract asset and the result of the periodic tariff revision;

(3) Effects of PIS/Pasep and Cofins over contract revenues.

(4) Deferral of income tax and social contribution tax over the adjustments;

(5) Effects of retrospective application of accounting policy, recorded as retained earnings, in accordance with IAS 08.

Statement of income

STATEMENT OF INCOME		Dec 31, 2019												Dec 31, 2018
As presented		Adjustment				Restated				As presented				Adjustment				Restated
CONTINUING OPERATIONS
NET REVENUE (1)			25,390				96				25,486				22,266				33				22,299
TOTAL COST			(19,598	)			—				(19,598	)			(17,677	)			—				(17,677	)
GROSS PROFIT			5,792				96				5,888				4,589				33				4,622
OPERATING EXPENSES (2)			(2,881	)			5				(2,876	)			(1,743	)			—				(1,743	)
Share of profit (loss), net, of affiliates and jointly-controlled entities			125				—				125				(104	)			—				(104	)
Dividends declared by investee classified as held for sale			73				—				73
Remeasurement of previously held equity interest in subsidiaries acquired			—				—				—				(119	)			—				(119	)
Impairment loss on investments			—				—				—				(127	)			—				(127	)
Net finance income			1,360				—				1,360				(518	)			—				(518	)
Income before income tax and social contribution tax			4,469				101				4,570				1,978				33				2,011
Current income tax and social contribution tax			(1,454	)			—				(1,454	)			(583	)			—				(583	)
Deferred income tax and social contribution tax (3)			(111	)			(34	)			(145	)			(16	)			(11	)			(27	)
Net income for the year from continuing operations			2,904				67				2,971				1,379				22				1,401
DISCONTINUED OPERATIONS
Net income after tax for the year from discontinued operations			224				—				224				363				—				363
NET INCOME FOR THE YEAR			3,128				67				3,195				1,742				22				1,764
Total of net income for the year attributed to:
Equity holders of the parent
Net income from continuing operations			2,903				67				2,970				1,378				22				1,400
Net income from discontinued operations			224				—				224				322				—				322
Net income for the year attributed to equity holders of the parent			3,127				67				3,194				1,700				22				1,722
Non-controlling interests
Net income from continuing operations			1				—				1				1				—				1
Net income from discontinued operations			—				—				—				41				—				41
NET INCOME FOR THE YEAR			3,128				67				3,195				1,742				22				1,764
Basic and diluted earnings per preferred share – R$ (4)			2.06				0.17				1.89				1.17				(0.15	)			1.02
Basic and diluted earnings per common share – R$  (4)			2.06				0.17				1.89				1.17				(0.15	)			1.02
Basic and diluted earnings per preferred share from continuing operations – R$  (4)			1.91				0.14				1.75				0.95				(0.12	)			0.83
Basic and diluted earnings per common share from continuing operations – R$  (4)			1.91				0.14				1.75				0.95				(0.12	)			0.83
Basic and diluted earnings per preferred share from discontinued operations – R$  (4)			0.15				0.01				0.14				0.22				(0.03	)			0.19
Basic and diluted earnings per common share from discontinued operations – R$  (4)			0.15				0.01				0.14				0.22				(0.03	)			0.19

	(1)	Recognition of the profit margin associated to the performance obligation to construct and upgrade the transmission infrastructure, as well as the interest revenue resulting from the financing component;
	(2)	Reversal of expected losses recorded in others expenses in prior periods.;
	(3)	Deferral of income tax and social contribution tax over the adjustments;
	(4)	The basic and diluted earnings per share for the years ended in December 31, 2019 and 2018 were also adjusted retrospectively in order to reflect the increase in the number of shares in 2021. For more information, see Note 26.

Statement of cash flows

STATEMENT OF CASH FLOWS		Dec 31, 2019  As presented				Adjustment				Dec 31, 2018  Restated
CASH FLOW FROM OPERATIONS
Net income for the year from continuing operations			2,904				67				2,971
Net income for the year from discontinuing operations			224				—				224
Adjustments to reconcile net income to net cash flows:
Deferred income tax and social contribution tax (2)			111				34				145
Loss on write-off of net residual value of unrecoverable concession financial assets, concessional contract asset, PP&E and Intangible assets (3)			130				(5	)			125
Adjustment to expectation of contract asset and financial concession asset (4)			(507	)			(249	)			(756	)
Deffered PIS/Pasep and Cofins over contract revenues (6)			—				15				15
Others			1,072				—				1,072
TOTAL			3,934				(138	)			3,796
(Increase) decrease in assets
Concession contract and financial assets (5)			373				138				511
Others			(67	)			—				(67	)
TOTAL			306				138				444
Increase (decrease) in liabilities			957				—				957
Cash generated by operating activities			5,197				—				5,197

	(1)	Effects of retrospective application of accounting policy, recorded as retained earnings, in accordance with IAS 08.
	(2)	Deferral of income tax and social contribution tax over the adjustments;
	(3)	Others immaterial adjustments referring to impairment losses and others expected losses.
	(4)	Recognition of the profit margin associated to the performance obligation to construct and upgrade the transmission infrastructure, as well as the interest revenue resulting from the financing component and the result of the periodic tariff revision;
	(5)	Adjustments in the amounts of the contract assets that were received, due to the reallocation of the consideration to performance obligation to construct and upgrade.
	(6)	Effects of PIS/Pasep and Cofins over contract revenues, including the deferred taxes;

STATEMENT OF CASH FLOWS		Dec 31, 2019  As presented				Adjustment				Dec 31, 2018  Restated
CASH FLOW FROM OPERATIONS
Net income for the year from continuing operations			1.379				22				1.401
Net income for the year from discontinuing operations			363				—				363
Adjustments to reconcile net income to net cash flows:
Deferred income tax and social contribution tax (2)			16				11				27
Adjustment to expectation of contract asset and financial concession asset (3)			(585	)			(92	)			(677	)
Others (4)			985				2				987
TOTAL			2,158				(57	)			2,101
(Increase) / decrease in assets
Concession contract and financial assets (5)			1,704				57				1,761
Others			1,450				—				1,450
TOTAL			3,154				57				3,211
Increase (decrease) in liabilities			(2,023	)			—				(2,023	)
TOTAL			3,289				—				3,289

	(1)	Effects of retrospective application of accounting policy, recorded as retained earnings, in accordance with IAS 08.
	(2)	Deferral of income tax and social contribution tax over the adjustments;
	(3)	Recognition of the profit margin associated to the performance obligation to construct and upgrade the transmission infrastructure, as well as the interest revenue resulting from the financing component) and the result of the periodic tariff revision;
	(4)	Adjustments in the amounts of the contract assets that were received, due to the reallocation of the consideration to performance obligation to construct and upgrade;
	(5)	Effects of PIS/Pasep and Cofins over contract revenues, including the deferred taxes.

Statement of comprehensive income

Statement of comprehensive income		Dec 31, 2019 As presented				Adjustment				Dec 31, 2019 Restated				Dec 31, 2018 As presented				Adjustment				Dec 31, 2018 Restated
NET INCOME FOR THE YEAR			3,128				67				3,195				1,742				22				1,764
OTHER COMPREHENSIVE INCOME
Items not to be reclassified to profit or loss in subsequent periods			(1,055	)			—				(1,055	)			(463	)			—				(463	)
COMPREHENSIVE INCOME FOR THE YEAR			2,073				67				2,140				1,279				22				1,301
Total of comprehensive income for the year attributed to:
Equity holders of the parent			2,072				67				2,139				1,237				22				1,259
Non-controlling interests			1				—				1				42				—				42
			2,073				67				2,140				1,279				22				1,301

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