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FINANCIAL INCOME (Details) - BRL (R$) R$ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020
FINANCIAL INCOME |  |  |
Income from short-term investments | R$ 392,445 | R$ 182,639 | R$ 108,057
Interest income and other financial income | 213,917 | 66,385 | 86,035
Financial Income | 606,362 | 249,024 | 194,092
Interest on debt | (964,607) | (1,059,841) | (1,022,460)
Monetary variation and other financial expenses | (598,551) | (373,246) | (426,001)
Financial Expenses | (1,563,158) | (1,433,087) | (1,448,461)
Exchange Variation, net | (974,709) | (108,373) | (204,291)
Bonds repurchase expenses |  | (264,687) | (239,273)
Tax credits monetary update |  | 788,741 |
Gains and losses on derivative financial instruments, net | 39,079 | 17,928 | (774)
Financial result, net | R$ (1,892,426) | R$ (750,454) | R$ (1,698,707)

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