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EMPLOYEE BENEFITS (Tables)

12 Months Ended

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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The disclosure of allocation of the defined benefit plan assets.

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

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