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EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2020

EMPLOYEE BENEFITS

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

		2020		2019
Plan assets - Defined contribution pension plan		39,196		45,381
Total assets		39,196		45,381
Actuarial liabilities - Defined benefit pension plan		1,441,592		1,138,592
Acturial liabilities - Post-employment health care benefit		362,944		298,989
Retirement and termination benefit liabilities		56,903		32,863
Total liabilities		1,861,439		1,470,444
Current		208		495
Non-current		1,861,231		1,469,949

Post-employment defined benefit pension plans

EMPLOYEE BENEFITS

Summary of sensitivity analysis

		1% Increase		1% Decrease
Discount rate		(17,965)		12,482

Defined benefit pension plan

EMPLOYEE BENEFITS

Schedule of current expenses of benefit plans

		2020		2019		2018
Cost of current service		69,323		54,518		60,803
Interest expense		191,326		189,544		82,513
Return on plan assets		(156,475)		(163,148)		(59,692)
Past service cost		3,967		2,302		7,065
Settlement		(11,609)		(4,712)		3,220
Interest cost on unrecoverable surplus		7,413		16,247		20,023
Net pension cost		103,945		94,751		113,932

Schedule of reconciliations of assets and liabilities of benefit plans

		2020		2019
Present value of defined benefit obligation		(5,921,285)		(4,601,965)
Fair value of plan assets		4,652,000		3,656,891
Asset ceiling restrictions on recognition of net funded assets		(172,307)		(193,517)
Net		(1,441,592)		(1,138,591)
Defined benefit obligation		(1,441,592)		(1,138,591)

Schedule of variation of plan obligations and assets

		2020		2019		2018
Variation of the plan obligations
Obligation at the begining of the year		4,601,965		4,391,251		4,314,592
Cost of service		69,323		54,518		60,803
Interest expense		191,326		189,544		188,729
Payments of the benefits		(434,650)		(309,817)		(318,198)
Past service cost		3,967		2,302		7,065
Supplementary amounts of the plan		-		-		17,078
Settlement		(190,948)		(498,493)		(61,369)
Acturial remeasurements		467,106		546,911		(370,083)
Exchange Variance		1,213,196		225,749		552,634
Obligation at the end of the year		5,921,285		4,601,965		4,391,251

		2020		2019		2018
Variation of the plan assets
Fair value of the plan assets at the begining of the year		3,656,891		3,568,934		3,456,613
Return of the plan assets		156,475		163,148		165,908
Contributions from sponsors		224,979		162,650		197,828
Settlement		(179,339)		(493,781)		(64,868)
Payments of benefits		(434,650)		(309,817)		(318,198)
Remeasurement		334,675		386,767		(253,301)
Exchange Variance		892,969		178,990		384,952
Fair value of plan assets at the end of the year		4,652,000		3,656,891		3,568,934

Summary of actuarial gains and losses recognized in other comprehensive income

		2020		2019		2018
Remeasurements		(334,675)		(386,767)		253,301
Actuarial Remeasurements		467,106		546,911		(370,083)
Restriction recognized in Other Comprehensive Income		(42,317)		(94,198)		(43,197)
Remeasurements recognized in Other Comprehensive Income		90,114		65,946		(159,979)

Summary of historical actuarial remeasurements

		2020		2019		2018		2017		2016
Present value of defined benefit obligation		(5,921,285)		(4,601,965)		(4,391,251)		(4,314,592)		(4,174,653)
Fair value of the plan assets		4,652,000		3,656,891		3,568,934		3,456,613		3,292,890
Surplus (Deficit)		(1,269,285)		(945,074)		(822,317)		(857,979)		(881,763)
Experience adjustments on plan liabilities (Gain)		467,106		546,911		(370,083)		235,549		186,905
Experience adjustments on plan assets (Gain)		(334,675)		(386,767)		253,301		(232,214)		(109,153)

Summary of allocation for plan assets

		2020
		Brazilian Plans		American Plans
Fixed income		99.1%		46.6%
Variable income		-		47.1%
Others		0.9%		6.3%
Total		100.0%		100.0%

		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%

Summary of assumptions

		2020
		Brazilian Plan		North America Plan
Average discount rate		6.56%		2.25% - 2.50%
Rate of increase in compensation		Not applicable		3.00%
Mortality table		AT-2000 per sex		RP-2006 and MP-2020
Mortality table of disabled		AT-2000 per sex		RP-2006 and MP-2020
Rate of rotation		Null		Based on age and/or the service

		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

Post-employment health care benefit

EMPLOYEE BENEFITS

Schedule of current expenses of benefit plans

		2020		2019		2018
Current service cost		4,964		3,302		4,144
Interest expense		11,311		10,656		11,082
Past service cost		(660)		(2,717)		(40,740)
Net cost pension benefit		15,615		11,241		(25,514)

Schedule of reconciliations of assets and liabilities of benefit plans

		2020		2019
Present value of obligations		(362,944)		(298,989)
Total net liabilities		(362,944)		(298,989)

Schedule of variation of plan obligations and assets

		2020		2019		2018
Change in benefit obligation
Benefit obligation at beginning of the year		298,989		272,959		316,364
Cost of service		4,964		3,302		4,144
Interest expense		11,311		10,656		11,082
Past service cost		(660)		(2,717)		(40,740)
Contributions from participants		2,349		2,088		1,496
Payment of benefits		(20,870)		(15,331)		(18,655)
Remeasurements		(23,533)		11,202		(40,841)
Exchange variations		90,394		16,830		40,109
Benefit obligation at the end of the year		362,944		298,989		272,959

		2020		2019		2018
Change in plan assets
Contributions from sponsors		19,150		13,243		17,159
Contributions from participants		2,349		2,088		1,496
Payments of benefits		(21,499)		(15,331)		(18,655)
Fair value of plan assets at end of the year		-		-		-

Summary of actuarial gains and losses recognized in other comprehensive income

		2020		2019		2018
Losses / Gains on actuarial obligation		(23,533)		11,202		(40,841)
Actuarial losses recognized in Equity		(23,533)		11,202		(40,841)

Summary of historical actuarial remeasurements

		2020		2019		2018		2017		2016
Present value of defined benefit obligation		(362,944)		(298,989)		(272,959)		(316,364)		(305,447)
Deficit		(362,944)		(298,989)		(272,959)		(316,364)		(305,447)
Experience adjustments on plan liabilities		(23,533)		11,202		(40,841)		(14,452)		(3,673)

Summary of assumptions

		2020		2019
Average discount rate		2.25% - 2.50%		3.00% - 3.25%
Health treatment - rate assumed next year		6.10% - 6.50%		5.80% - 6.70%
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		2,739		(2,171)
Effect over benefit plan obligations		43,331		(34,975)

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

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