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EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2018

EMPLOYEE BENEFITS

Schedule of total assets and liabilities of all types of employee benefits granted

		2018		2017
Plan assets - Defined contribution pension plan		17,952		1,149
Total assets		17,952		1,149
Actuarial liabilities - Defined benefit pension plan		1,057,846		1,084,758
Acturial liabilities - Post-employment health care benefit		272,369		316,230
Retirement and termination benefit liabilities		26,502		23,876
Total liabilities		1,356,717		1,424,864
Current		157		253
Non-current		1,356,560		1,424,611

Post-employment defined benefit pension plans

EMPLOYEE BENEFITS

Summary of sensitivity analysis

		1% Increase		1% Decrease
Discount rate		(14,689)		10,346

Defined benefit pension plan

EMPLOYEE BENEFITS

Schedule of current expenses of benefit plans

		2018		2017		2016
Cost of current service		60,803		60,595		57,619
Interest expense		82,513		90,381		199,389
Return on plan assets		(59,692)		(64,128)		(186,856)
Past service cost		7,065		1,082		2,788
Settlement		3,220		(566)		609
Interest cost on unrecoverable surplus		20,023		21,211		22,916
Net pension cost		113,932		108,575		96,465

Schedule of reconciliations of assets and liabilities of benefit plans

		2018		2017
Present value of defined benefit obligation		(4,391,251)		(4,314,592)
Fair value of plan assets		3,568,934		3,456,613
Asset ceiling restrictions on recognition of net funded assets		(235,532)		(226,779)
Net		(1,057,849)		(1,084,758)
Plan assets		—		—
Defined benefit obligation		(1,057,849)		(1,084,758)

Schedule of variation of plan obligations and assets

		2018		2017		2016
Variation of the plan obligations
Obligation at the begining of the year		4,314,592		4,174,653		4,739,299
Cost of service		60,803		60,595		57,619
Interest expense		188,729		195,557		199,389
Payments of the benefits		(318,198)		(335,471)		(317,505)
Past service cost		7,065		1,082		2,788
Supplementary amounts of the plan		17,078		—		—
Settlement		(61,369)		(52,035)		609
Acturial remeasurements		(370,083)		235,549		186,905
Liabilities held for sale		—		(101,794)		—
Exchange Variance		552,634		136,456		(694,451)
Obligation at the end of the year		4,391,251		4,314,592		4,174,653

		2018		2017		2016
Variation of the plan assets
Fair value of the plan assets at the begining of the year		3,456,613		3,292,890		3,865,411
Return of the plan assets		165,908		169,304		186,857
Contributions from sponsors		197,828		111,450		(47,574)
Settlement		(64,868)		(51,469)		(6,710)
Payments of benefits		(318,198)		(335,471)		(317,505)
Remeasurement		(253,301)		232,214		109,153
Assets held for sale		—		(73,127)		—
Exchange Variance		384,952		110,822		(496,742)
Fair value of plan assets at the end of the year		3,568,934		3,456,613		3,292,890

Summary of actuarial gains and losses recognized in other comprehensive income

		2018		2017		2016
Remeasurements		253,301		(232,214)		(109,153)
Actuarial Remeasurements		(370,083)		235,549		186,905
Restriction recognized in Other Comprehensive Income		(43,197)		(1,696)		3,065
Remeasurements recognized in Other Comprehensive Income		(159,979)		1,639		80,817

Summary of historical actuarial remeasurements

		2018		2017		2016		2015		2014
Present value of defined benefit obligation		(4,391,251)		(4,314,592)		(4,174,653)		(4,739,299)		(3,791,670)
Fair value of the plan assets		3,568,934		3,456,613		3,292,890		3,865,411		3,319,133
Surplus (Deficit)		(822,317)		(857,979)		(881,763)		(873,888)		(472,537)
Experience adjustments on plan liabilities (Gain)		(370,083)		235,549		186,905		(202,749)		466,829
Experience adjustments on plan assets (Gain)		253,301		(232,214)		(109,153)		235,275		(69,748)

Summary of allocation for plan assets

		2018
		Brazilian Plans		American Plans
Fixed income		98.0%		58.1%
Variable income		—		36.5%
Others		2.0%		5.4%
Total		100.0%		100.0%

		2017
		Brazilian Plans		American Plans
Fixed income		98.0%		48.3%
Variable income		—		45.0%
Others		2.0%		6.7%
Total		100.0%		100.0%

Summary of assumptions

		2018
		Brazilian Plan		North America Plan
Average discount rate		9.10%		3.50% - 4.25%
Rate of increase in compensation		Not applicable		3.00%
Mortality table		AT-2000 per sex		RP-2006 and MP-2018
Mortality table of disabled		AT-2000 per sex		RP-2006 and MP-2018
Rate of rotation		Based on plan background		Based on age and/or the service

		2017
		Brazilian Plan		North America Plan
Average discount rate		9.84%		3.25% - 4.25%
Rate of increase in compensation		Not applicable		3.00%
Mortality table		AT-2000 per sex		RP-2006 and MP-2017
Mortality table of disabled		AT-2000 per sex		RP-2006 and MP-2017
Rate of rotation		Based on plan background		Based on age and/or the service

Post-employment health care benefit

EMPLOYEE BENEFITS

Summary of sensitivity analysis

		1% Increase		1% Decrease
Effect over total service costs and interest costs		2,051		(1,612)
Effect over benefit plan obligations		27,517		(22,743)

Schedule of current expenses of benefit plans

		2018		2017		2016
Current service cost		4,144		4,441		4,481
Interests expense		11,082		12,162		15,494
Past service cost		(40,740)		5,769		(75,787)
Net cost pension benefit		(25,514)		22,372		(55,812)

Schedule of reconciliations of assets and liabilities of benefit plans

		2018		2017
Present value of obligations		(272,959)		(316,364)
Total net liabilities		(272,959)		(316,364)

Schedule of variation of plan obligations and assets

		2018		2017		2016
Change in benefit obligation
Benefit obligation at beginning of the year		316,364		305,447		446,842
Cost of service		4,144		4,441		4,481
Interest expense		11,082		12,162		15,494
Past service cost		(40,740)		5,769		(75,787)
Contributions from participants		1,496		1,556		2,212
Payment of benefits		(18,655)		(14,230)		(14,799)
Remeasurements		(40,841)		(14,452)		(3,673)
Exchange variations		40,109		15,671		(69,323)
Benefit obligation at the end of the year		272,959		316,364		305,447

		2018		2017		2016
Change in plan assets
Contributions from sponsors		17,159		12,572		12,463
Contributions from participants		1,496		1,556		2,212
Payments of benefits		(18,655)		(14,128)		(14,675)
Fair value of plan assets at end of the year		—		—		—

Summary of actuarial gains and losses recognized in other comprehensive income

		2018		2017		2016
Losses on actuarial obligation		(40,841)		(14,452)		(3,673)
Actuarial losses recognized in Equity		(40,841)		(14,452)		(3,673)

Summary of historical actuarial remeasurements

		2018		2017		2016		2015		2014
Present value of defined benefit obligation		(272,959)		(316,364)		(305,447)		(446,843)		(351,538)
Deficit		(272,959)		(316,364)		(305,447)		(446,843)		(351,538)
Experience adjustments on plan liabilities		(40,841)		(14,452)		(3,673)		(45,884)		42,345

Summary of assumptions

		2018		2017
Average discount rate		3.75% - 4.25%		3.25% - 3.50%
Health treatment - rate assumed next year		6.60% - 6.75%		6.88% - 7.60%
Health treatment - Assumed rate of decline in the cost to achieve in the years of 2026 to 2041		4.00% - 4.40%		4.00% - 4.50%

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The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]

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