XML 31 R6.htm IDEA: XBRL DOCUMENT v3.24.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - BRL (R$)
R$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income for the year R$ 7,536,983 R$ 11,479,552 R$ 15,558,938
Adjustments to reconcile net income for the year to net cash provided by operating activities      
Depreciation and amortization 3,047,212 2,866,699 2,658,561
Equity in earnings of unconsolidated companies (827,606) (1,151,827) (563,158)
Exchange variation, net 850,375 974,709 108,373
Losses (Gains) on derivative financial instruments, net 14,979 (39,079) (17,928)
Post-employment benefits 235,977 246,958 255,477
Long-term incentive plans 157,979 104,714 65,289
Income tax 1,809,622 4,379,475 4,713,630
Gain (Loss) on disposal of property, plant and equipment 27,525 (25,579) (77,417)
Results in operations with subsidiary and joint ventures     162,913
Impairment (Reversal) of financial assets 10,728 81 (357)
Provision (reversal) of tax, civil, labor and environmental liabilities, net 160,245 295,021 125,641
Tax credits recovery (1,098,218)   (1,182,082)
Interest income on short-term investments (481,624) (309,782) (170,671)
Interest expense on loans 840,069 964,607 1,059,841
Interest expense on leases liabilities 127,787 88,370 68,789
Interest on loans with related parties   199 (6,089)
Provision (Reversal) for net realizable value adjustment in inventory, net 12,036 43,843 (2,812)
Cash flows from operations before changes in working capital 12,424,069 19,917,961 22,756,938
Changes in assets and liabilities      
(Increase) Decrease in trade accounts receivable (294,509) 290,579 (1,614,047)
Decrease (Increase) in inventories 1,305,424 (2,039,135) (7,704,329)
(Decrease) Increase in trade accounts payable (355,416) (995,598) 2,534,329
(Increase) Decrease in other receivables (107,171) (284,826) 290,658
Decrease in other payables (434,100) (1,597,602) (386,447)
Dividends from associates and joint ventures 461,292 425,493 117,438
Purchases of short-term investments (7,223,644) (3,588,529) (3,010,084)
Proceeds from maturities and sales of short-term investments 7,908,990 3,434,859 3,595,212
Cash provided by operating activities 13,684,935 15,563,202 16,579,668
Interest paid on loans and financing (858,301) (968,851) (1,100,826)
Interest paid on lease liabilities (127,787) (88,370) (68,789)
Income and social contribution taxes paid (1,560,137) (3,355,643) (2,893,120)
Net cash provided by operating activities 11,138,710 11,150,338 12,516,933
Cash flows from investing activities      
Purchases of property, plant and equipment (5,209,128) (4,291,873) (3,026,023)
Proceeds from sales of property, plant and equipment, investments and other intangibles 40,661 48,322 82,635
Additions in other intangibles (127,195) (189,382) (166,310)
Shares repurchase from joint venture 47,006    
Capital (increase) decrease in associate and joint venture (524,185) (26,751) 113,595
Net cash used by investing activities (5,772,841) (4,459,684) (2,996,103)
Cash flows from financing activities      
Acquisition of interest in subsidiary   (46,153)  
Purchases of Treasury stocks   (1,073,124)  
Dividends and interest on capital paid (2,683,328) (5,891,690) (5,339,426)
Proceeds from loans and financing 1,776,684 2,263,311 609,703
Payment of loans and financing (2,830,684) (3,201,126) (5,116,621)
Leasing payment (388,202) (310,226) (275,854)
Intercompany loans, net 102 2,721 139,556
Net cash used in financing activities (4,125,428) (8,256,287) (9,982,642)
Exchange variation on cash and cash equivalents (710,659) (119,158) 5,262
Increase (Decrease) in cash and cash equivalents 529,782 (1,684,791) (456,550)
Cash and cash equivalents at beginning of year 2,475,863 4,160,654 4,617,204
Cash and cash equivalents at end of year R$ 3,005,645 R$ 2,475,863 R$ 4,160,654