XML 29 R6.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - BRL (R$)
R$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income for the year R$ 2,388,054 R$ 1,216,887 R$ 2,326,382
Adjustments to reconcile net income for the year to net cash provided by operating activities      
Depreciation and amortization 2,499,104 2,074,295 1,891,814
Impairment of assets 411,925 0 0
Equity in earnings of unconsolidated companies (152,569) 17,050 (10,141)
Exchange variation, net 204,291 247,555 322,621
Gains and losses on derivative financial instruments, net 774 15,118 (32,092)
Post-employment benefits 203,689 165,487 189,603
Long-term incentive plans 62,801 43,895 41,186
Income tax 1,107,624 457,833 (168,951)
(Gains) Losses on disposal of property, plant and equipment (18,482) 2,129 (41,109)
Gains and losses on assets held for sale and sales of interest in subsidiaries 0 0 414,507
Impairment of financial assets 64,132 21,044 9,914
Provision (reversal) of tax, civil, labor and environmental liabilities, net 477,518 38,417 (56,409)
Tax credits recovery (1,358,744) (402,499) 0
Interest income on short-term investments (99,359) (72,784) (49,745)
Interest expense on loans 1,022,460 938,120 1,177,686
Interest on loans with related parties (8,277) (4,767) (545)
Provision (Reversal) for net realisable value adjustment in inventory (40,697) 24,665 8,228
Cash flows from operations before changes in working capital 6,764,244 4,782,445 6,022,949
Changes in assets and liabilities      
(Increase) Decrease in trade accounts receivable (527,722) 656,831 71,631
(Increase) Decrease in inventories (428,263) 1,556,713 (2,427,473)
Increase (Decrease) in trade accounts payable 1,014,800 (642,699) 900,388
Decrease (Increase) in other receivables 369,076 146,825 (118,988)
Increase (Decrease) in other payables 182,934 (462,906) (1,160,626)
Dividends from joint ventures 94,937 44,037 55,357
Purchases of short-term investments (3,224,158) (3,676,744) (1,512,123)
Proceeds from maturities and sales of short-term investments 3,924,799 521,616 1,629,595
Cash provided by operating activities 8,170,647 2,926,118 3,460,710
Interest paid on loans and financing (1,079,981) (945,027) (1,162,364)
Interest paid on lease liabilities (61,727) (83,620) 0
Income and social contribution taxes paid (621,033) (254,679) (298,663)
Net cash provided by operating activities 6,407,906 1,642,792 1,999,683
Cash flows from investing activities      
Purchases of property, plant and equipment (1,650,778) (1,746,600) (1,194,934)
Proceeds from sales of property, plant and equipment, investments and other intangibles 61,275 21,805 4,021,251
Additions in other intangibles (154,250) (100,313) (67,388)
Advance for future investment in joint venture 0 (94,687) (375,456)
Capital (increase) decrease in joint venture (42,782) 20,344 0
Payment for business combination (442,542) 0 0
Net cash (used) provided by investing activities (2,229,077) (1,899,451) 2,383,473
Cash flows from financing activities      
Purchase of treasury shares 0 0 (243,396)
Dividends and interest on capital paid (274,815) (484,173) (599,099)
Proceeds from loans and financing 3,120,745 5,585,573 2,560,789
Repayment of loans and financing (5,084,028) (4,885,083) (6,000,433)
Leasing payment (247,914) (161,824) 0
Intercompany loans, net (7,777) (64,089) 25,755
Net cash used in financing activities (2,493,789) (9,596) (4,256,384)
Exchange variation on cash and cash equivalents 290,512 17,763 208,034
Increase (Decrease) in cash and cash equivalents 1,975,552 (248,492) 334,806
Cash and cash equivalents at beginning of year 2,641,652 2,890,144 2,555,338
Cash and cash equivalents at end of year R$ 4,617,204 R$ 2,641,652 R$ 2,890,144