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v3.24.1

EMPLOYEE BENEFITS (Tables) | 12 Months Ended
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Dec. 31, 2023
EMPLOYEE BENEFITS |
Schedule of total assets and liabilities of all types of employee benefits granted | ​
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
Plan assets - Defined contribution pension plan |  | 11,695 | ​ | 9,179
Total assets |  | 11,695 | ​ | 9,179
​ |  | ​ | ​ | ​
Actuarial liabilities - Defined benefit pension plan |  | 498,732 | ​ | 658,492
Acturial liabilities - Post-employment health care benefit |  | 196,446 | ​ | 224,180
Retirement and termination benefit liabilities |  | 11,798 | ​ | 11,222
Total liabilities |  | 706,976 | ​ | 893,894
​ | ​ | ​ | ​ | ​
Current | ​ | 209 | ​ | 516
Non-current |  | 706,767 | ​ | 893,378
Post-employment defined benefit pension plans |
EMPLOYEE BENEFITS |
Summary of sensitivity analysis | ​
​ | ​ | ​ | ​ | ​
​ |  | 1% Increase |  | 1% Decrease
Discount rate |  | (17,449) |  | 14,636
Defined benefit pension plan |
EMPLOYEE BENEFITS |
Schedule of current expenses of benefit plans | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Cost of current service |  | 46,176 | ​ | 63,616 |  | 74,840
Interest expense |  | 204,604 | ​ | 169,526 |  | 170,897
Return on plan assets |  | (187,247) | ​ | (150,700) |  | (136,933)
Past service cost |  | — | ​ | — |  | 7,093
Settlement |  | — | ​ | — |  | (847)
Interest cost on unrecoverable surplus |  | 13,645 | ​ | 10,440 |  | 4,371
Net pension cost |  | 77,178 | ​ | 92,882 |  | 119,421
Schedule of reconciliations of assets and liabilities of benefit plans | ​
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
Present value of defined benefit obligation |  | (3,573,044) | ​ | (3,841,213)
Fair value of plan assets |  | 3,383,887 | ​ | 3,499,475
Asset ceiling restrictions on recognition of net funded assets |  | (309,575) | ​ | (316,754)
Net | ​ | (498,732) | ​ | (658,492)
Defined benefit obligation |  | (498,732) | ​ | (658,492)
Schedule of variation of plan obligations and assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Variation of the plan obligations | ​ | ​ | ​ | ​ | ​ | ​
Obligation at the begining of the year |  | 3,841,213 |  | 5,409,065 |  | 5,921,285
Cost of service |  | 46,176 | ​ | 63,616 |  | 74,840
Interest expense |  | 204,604 | ​ | 169,526 |  | 170,897
Payments of the benefits |  | (410,621) | ​ | (317,779) |  | (486,310)
Past service cost |  | — | ​ | — |  | 7,093
Settlement |  | — | ​ | — |  | (228,881)
Acturial remeasurements |  | 117,644 | ​ | (1,058,898) |  | (457,421)
Exchange Variance | ​ | (225,972) | ​ | (424,317) | ​ | 407,562
Obligation at the end of the year |  | 3,573,044 |  | 3,841,213 |  | 5,409,065
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Variation of the plan assets | ​ | ​ | ​ | ​ | ​ | ​
Fair value of the plan assets at the begining of the year |  | 3,499,475 |  | 4,647,361 |  | 4,652,000
Return of the plan assets |  | 187,247 | ​ | 150,700 |  | 136,933
Contributions from sponsors |  | 75,321 | ​ | 173,316 |  | 244,123
Settlement |  | — | ​ | — |  | (228,034)
Payments of benefits |  | (413,565) | ​ | (317,779) |  | (486,310)
Remeasurement |  | 214,503 | ​ | (791,672) |  | 25,498
Exchange Variance | ​ | (179,094) | ​ | (362,451) | ​ | 303,151
Fair value of plan assets at the end of the year |  | 3,383,887 |  | 3,499,475 |  | 4,647,361
Summary of actuarial gains and losses recognized in other comprehensive income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Return of the plan assets | ​ | (214,503) | ​ | 791,672 |  | (25,498)
Actuarial Remeasurements |  | 117,644 | ​ | (1,058,898) |  | (457,421)
Restriction recognized in Other Comprehensive Income |  | (22,456) | ​ | 4,965 |  | 178,941
Remeasurements recognized in Other Comprehensive Income |  | (119,315) | ​ | (262,261) |  | (303,978)
Summary of historical actuarial remeasurements | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019
Present value of defined benefit obligation |  | (3,573,044) | ​ | (3,841,213) | ​ | (5,409,065) |  | (5,921,285) |  | (4,601,965)
Fair value of the plan assets |  | 3,383,887 | ​ | 3,499,475 | ​ | 4,647,361 |  | 4,652,000 |  | 3,656,891
Surplus (Deficit) |  | (189,157) | ​ | (341,738) | ​ | (761,704) |  | (1,269,285) |  | (945,074)
Experience adjustments on plan liabilities (Gain) |  | 117,644 | ​ | (1,058,898) | ​ | (457,421) |  | 467,106 |  | 546,911
Experience adjustments on plan assets (Gain) |  | (214,503) | ​ | 791,672 | ​ | (25,498) |  | (334,675) |  | (386,767)
Summary of allocation for plan assets | ​
​ | ​ | ​ | ​ | ​
​ | ​ | 2023
​ |  | Brazilian Plans |  | American Plans
Fixed income |  | 99.7% | ​ | 83.6%
Variable income |  | — | ​ | 11.6%
Others |  | 0.3% | ​ | 4.8%
Total |  | 100.0% | ​ | 100.0%
​
​ | ​ | ​ | ​ | ​
​ | ​ | 2022
​ |  | Brazilian Plans |  | American Plans
Fixed income |  | 99.5% | ​ | 48.1%
Variable income |  | — | ​ | 41.2%
Others |  | 0.5% | ​ | 10.7%
Total |  | 100.0% | ​ | 100.0%
Summary of assumptions | ​
​ | ​ | ​ | ​ | ​
​ |  | 2023
​ | ​ | Brazilian Plan |  | North America Plan
Average discount rate |  | 9.03% | ​ | 4,12% -5,11%
Rate of increase in compensation |  | Not applicable |  | 1.50%
Mortality table |  | AT-2000 per sex |  | RP-2006 and MP-2023
Mortality table of disabled |  | AT-2000 per sex |  | RP-2006 and MP-2023
Rate of rotation |  | Null |  | Based on age and/or the service
​
​ | ​ | ​ | ​ | ​
​ | ​ | 2022
​ |  | Brazilian Plan |  | North America Plan
Average discount rate |  | 9.81% | ​ | 5.05% - 5.11%
Rate of increase in compensation |  | Not applicable |  | 3.00%
Mortality table |  | AT-2000 per sex |  | RP-2006 and MP-2022
Mortality table of disabled |  | AT-2000 per sex |  | RP-2006 and MP-2022
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 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Current service cost |  | 2,069 | ​ | 3,005 |  | 3,458
Interest expense |  | 10,127 | ​ | 8,102 |  | 8,239
Past service cost |  | — | ​ | — |  | (32,434)
Net cost pension benefit |  | 12,196 | ​ | 11,107 |  | (20,737)
Schedule of reconciliations of assets and liabilities of benefit plans | ​
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
Present value of obligations |  | (196,446) | ​ | (224,180)
Total net liabilities |  | (196,446) | ​ | (224,180)
Schedule of variation of plan obligations and assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Change in benefit obligation | ​ | ​ | ​ | ​ | ​ | ​
Benefit obligation at beginning of the year |  | 224,180 |  | 318,181 |  | 362,944
Cost of service |  | 2,069 | ​ | 3,005 |  | 3,458
Interest expense |  | 10,127 | ​ | 8,102 |  | 8,239
Past service cost |  | — | ​ | — |  | (32,434)
Contributions from participants |  | 1,096 | ​ | 1,472 |  | 2,032
Payment of benefits |  | (20,265) | ​ | (17,488) |  | (17,431)
Remeasurements |  | (7,232) | ​ | (61,524) |  | (36,938)
Exchange variations |  | (13,530) | ​ | (27,568) |  | 28,311
Benefit obligation at the end of the year |  | 196,445 | ​ | 224,180 |  | 318,181
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Change in plan assets | ​ | ​ | ​ | ​ | ​ | ​
Contributions from sponsors |  | 19,168 | ​ | 16,016 |  | 24,713
Contributions from participants |  | 1,096 | ​ | 1,472 |  | 2,032
Payments of benefits |  | (20,264) | ​ | (17,488) |  | (26,745)
Fair value of plan assets at end of the year |  | — | ​ | — |  | —
Summary of actuarial gains and losses recognized in other comprehensive income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Losses / Gains on actuarial obligation |  | (7,232) | ​ | (61,524) | ​ | (36,938)
Actuarial losses recognized in Equity |  | (7,232) | ​ | (61,524) | ​ | (36,938)
Summary of historical actuarial remeasurements | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019
Present value of defined benefit obligation |  | (196,445) | ​ | (224,180) | ​ | (318,181) |  | (362,944) |  | (298,989)
Deficit |  | (196,445) | ​ | (224,180) | ​ | (318,181) |  | (362,944) |  | (298,989)
Experience adjustments on plan liabilities |  | (7,232) | ​ | (61,524) | ​ | (36,938) |  | (23,533) |  | 11,202
Summary of assumptions | ​
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
Average discount rate |  | 4,63% - 4,92% | ​ | 5.05% - 5.11%
Health treatment - rate assumed next year |  | 4,84% - 7,60% | ​ | 5.01% - 6.70%
Health treatment - Assumed rate of decline in the cost to achieve in the years of 2032 to 2041 |  | 3,26% - 4,50% | ​ | 3.30% - 3.75%
Summary of sensitivity analysis | ​
​ | ​ | ​ | ​ | ​
​ |  | 1% Increase |  | 1% Decrease
Effect over total service costs and interest costs |  | (425) |  | 240
Effect over benefit plan obligations |  | (16,877) |  | 20,149

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