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v3.20.1

EMPLOYEE BENEFITS (Tables) | 12 Months Ended
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Dec. 31, 2019
EMPLOYEE BENEFITS |
Schedule of total assets and liabilities of all types of employee benefits granted |
|  | 2019 |  | 2018
Plan assets - Defined contribution pension plan |  | 45,381 |  | 17,952
Total assets |  | 45,381 |  | 17,952
Actuarial liabilities - Defined benefit pension plan |  | 1,138,592 |  | 1,057,846
Acturial liabilities - Post-employment health care benefit |  | 298,989 |  | 272,369
Retirement and termination benefit liabilities |  | 32,863 |  | 26,502
Total liabilities |  | 1,470,444 |  | 1,356,717
Current |  | 495 |  | 157
Non-current |  | 1,469,949 |  | 1,356,560
Post-employment defined benefit pension plans |
EMPLOYEE BENEFITS |
Summary of sensitivity analysis |
|  | 1% Increase |  | 1% Decrease
Discount rate |  | (16,203) |  | 12,383
Defined benefit pension plan |
EMPLOYEE BENEFITS |
Schedule of current expenses of benefit plans |
|  | 2019 |  | 2018 |  | 2017
Cost of current service |  | 54,518 |  | 60,803 |  | 60,595
Interest expense |  | 189,544 |  | 82,513 |  | 90,381
Return on plan assets |  | (163,148) |  | (59,692) |  | (64,128)
Past service cost |  | 2,302 |  | 7,065 |  | 1,082
Settlement |  | (4,712) |  | 3,220 |  | (566)
Interest cost on unrecoverable surplus |  | 16,247 |  | 20,023 |  | 21,211
Net pension cost |  | 94,751 |  | 113,932 |  | 108,575
Schedule of reconciliations of assets and liabilities of benefit plans |
|  | 2019 |  | 2018
Present value of defined benefit obligation |  | (4,601,966) |  | (4,391,251)
Fair value of plan assets |  | 3,656,891 |  | 3,568,934
Asset ceiling restrictions on recognition of net funded assets |  | (193,517) |  | (235,532)
Net |  | (1,138,592) |  | (1,057,849)
Plan assets |  | — |  | —
Defined benefit obligation |  | (1,138,592) |  | (1,057,849)
Schedule of variation of plan obligations and assets |
|  | 2019 |  | 2018 |  | 2017
Variation of the plan obligations |  |  |  |  |  |
Obligation at the begining of the year |  | 4,391,251 |  | 4,314,592 |  | 4,174,653
Cost of service |  | 54,518 |  | 60,803 |  | 60,595
Interest expense |  | 189,544 |  | 188,729 |  | 195,557
Payments of the benefits |  | (309,817) |  | (318,198) |  | (335,471)
Past service cost |  | 2,302 |  | 7,065 |  | 1,082
Supplementary amounts of the plan |  | — |  | 17,078 |  | —
Settlement |  | (498,493) |  | (61,369) |  | (52,035)
Acturial remeasurements |  | 546,911 |  | (370,083) |  | 235,549
Liabilities held for sale |  | — |  | — |  | (101,794)
Exchange Variance |  | 225,750 |  | 552,634 |  | 136,456
Obligation at the end of the year |  | 4,601,966 |  | 4,391,251 |  | 4,314,592
|  | 2019 |  | 2018 |  | 2017
Variation of the plan assets |  |  |  |  |  |
Fair value of the plan assets at the begining of the year |  | 3,568,934 |  | 3,456,613 |  | 3,292,890
Return of the plan assets |  | 163,148 |  | 165,908 |  | 169,304
Contributions from sponsors |  | 162,650 |  | 197,828 |  | 111,450
Settlement |  | (493,781) |  | (64,868) |  | (51,469)
Payments of benefits |  | (309,817) |  | (318,198) |  | (335,471)
Remeasurement |  | 386,767 |  | (253,301) |  | 232,214
Assets held for sale |  | — |  | — |  | (73,127)
Exchange Variance |  | 178,990 |  | 384,952 |  | 110,822
Fair value of plan assets at the end of the year |  | 3,656,891 |  | 3,568,934 |  | 3,456,613
Summary of actuarial gains and losses recognized in other comprehensive income |
|  | 2019 |  | 2018 |  | 2017
Remeasurements |  | (386,767) |  | 253,301 |  | (232,214)
Actuarial Remeasurements |  | 546,911 |  | (370,083) |  | 235,549
Restriction recognized in Other Comprehensive Income |  | (94,198) |  | (43,197) |  | (1,696)
Remeasurements recognized in Other Comprehensive Income |  | 65,946 |  | (159,979) |  | 1,639
Summary of historical actuarial remeasurements |
|  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | 2015
Present value of defined benefit obligation |  | (4,601,966) |  | (4,391,251) |  | (4,314,592) |  | (4,174,653) |  | (4,739,299)
Fair value of the plan assets |  | 3,656,891 |  | 3,568,934 |  | 3,456,613 |  | 3,292,890 |  | 3,865,411
Surplus (Deficit) |  | (945,075) |  | (822,317) |  | (857,979) |  | (881,763) |  | (873,888)
Experience adjustments on plan liabilities (Gain) |  | 546,911 |  | (370,083) |  | 235,549 |  | 186,905 |  | (202,749)
Experience adjustments on plan assets (Gain) |  | 253,301 |  | 253,301 |  | (232,214) |  | (109,153) |  | 235,275
Summary of allocation for plan assets |
|  | 2019
|  | Brazilian Plans |  | American Plans
Fixed income |  | 98.0% |  | 54.9%
Variable income |  | — |  | 42.2%
Others |  | 2.0% |  | 2.9%
Total |  | 100.0% |  | 100.0%
|  | 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%
Summary of assumptions |
|  | 2019
|  | Brazilian Plan |  | North America Plan
Average discount rate |  | 7.16% |  | 3.00% - 3.25%
Rate of increase in compensation |  | Not applicable |  | 3.00%
Mortality table |  | AT-2000 per sex |  | RP-2006 and MP-2019
Mortality table of disabled |  | AT-2000 per sex |  | RP-2006 and MP-2019
Rate of rotation |  | Null |  | Based on age and/or the service
|  | 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
Post-employment health care benefit |
EMPLOYEE BENEFITS |
Schedule of current expenses of benefit plans |
|  | 2019 |  | 2018 |  | 2017
Current service cost |  | 3,302 |  | 4,144 |  | 4,441
Interests expense |  | 10,656 |  | 11,082 |  | 12,162
Past service cost |  | (2,717) |  | (40,740) |  | 5,769
Net cost pension benefit |  | 11,241 |  | (25,514) |  | 22,372
Schedule of reconciliations of assets and liabilities of benefit plans |
|  | 2019 |  | 2018
Present value of obligations |  | (298,989) |  | (272,959)
Total net liabilities |  | (298,989) |  | (272,959)
Schedule of variation of plan obligations and assets |
|  | 2019 |  | 2018 |  | 2017
Change in benefit obligation |  |  |  |  |  |
Benefit obligation at beginning of the year |  | 272,959 |  | 316,364 |  | 305,447
Cost of service |  | 3,302 |  | 4,144 |  | 4,441
Interest expense |  | 10,656 |  | 11,082 |  | 12,162
Past service cost |  | (2,717) |  | (40,740) |  | 5,769
Contributions from participants |  | 2,088 |  | 1,496 |  | 1,556
Payment of benefits |  | (15,331) |  | (18,655) |  | (14,230)
Remeasurements |  | 11,202 |  | (40,841) |  | (14,452)
Exchange variations |  | 16,830 |  | 40,109 |  | 15,671
Benefit obligation at the end of the year |  | 298,989 |  | 272,959 |  | 316,364
|  | 2019 |  | 2018 |  | 2017
Change in plan assets |  |  |  |  |  |
Contributions from sponsors |  | 13,243 |  | 17,159 |  | 12,572
Contributions from participants |  | 2,088 |  | 1,496 |  | 1,556
Payments of benefits |  | (15,331) |  | (18,655) |  | (14,128)
Fair value of plan assets at end of the year |  | — |  | — |  | —
Summary of actuarial gains and losses recognized in other comprehensive income |
|  | 2019 |  | 2018 |  | 2017
Losses on actuarial obligation |  | 11,202 |  | (40,841) |  | (14,452)
Actuarial losses recognized in Equity |  | 11,202 |  | (40,841) |  | (14,452)
Summary of historical actuarial remeasurements |
|  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | 2015
Present value of defined benefit obligation |  | (298,989) |  | (272,959) |  | (316,364) |  | (305,447) |  | (446,843)
Deficit |  | (298,989) |  | (272,959) |  | (316,364) |  | (305,447) |  | (446,843)
Experience adjustments on plan liabilities |  | 11,202 |  | (40,841) |  | (14,452) |  | (3,673) |  | (45,884)
Summary of assumptions |
|  | 2019 |  | 2018
Average discount rate |  | 3.00% - 3.25% |  | 3.75% - 4.25%
Health treatment - rate assumed next year |  | 5.80% - 6.70% |  | 6.60% - 6.75%
Health treatment - Assumed rate of decline in the cost to achieve in the years of 2028 to 2041 |  | 4.00% - 4.40% |  | 4.00% - 4.40%
Summary of sensitivity analysis |
|  | 1% Increase |  | 1% Decrease
Effect over total service costs and interest costs |  | 1,886 |  | (1,519)
Effect over benefit plan obligations |  | 37,867 |  | (30,937)

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