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Intangible assets | 12 Months Ended
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Dec. 31, 2021
Intangible Assets [abstract] |
Intangible assets | Intangible assets 12.1. Changes in Intangible assets
| Balance at 12/31/2020 |  | Additions (a) |  | Disposals (b) |  | Transfers |  | Effects of hyperinflation (IAS 29) |  | Effects of changes in foreign exchange rates (IAS 21) |  | Business combination |  | Balance at 12/31/2021
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill - acquisition of subsidiaries | 654,044 |  |  | 349 |  |  | (8,630) |  |  | — |  |  | — |  |  | 46 |  |  | 5,070,034 |  |  | 5,715,843 |
Customer relationship | 155,101 |  |  | 2,150 |  |  | — |  |  | — |  |  | — |  |  | (154) |  |  | 1,491,973 |  |  | 1,649,070 |
Trademark use right | 12,491 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12,491 |
Trademarks and patents | 3,728 |  |  | 1,549 |  |  | (13) |  |  | — |  |  | — |  |  | — |  |  | 227,718 |  |  | 232,982 |
Software | 204,649 |  |  | 204,316 |  |  | (18,660) |  |  | 25,167 |  |  | 368 |  |  | (1,435) |  |  | 540,381 |  |  | 954,786 |
Licenses for use - payment arrangements | 25,250 |  |  | 15,104 |  |  | — |  |  | (3,669) |  |  | — |  |  | — |  |  | — |  |  | 36,685 |
Operating license | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (352) |  |  | 7,121 |  |  | 6,769 |
Exclusivity right | 38,827 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (38,827) |  |  | — |
Software in progress | 26,246 |  |  | 35,552 |  |  | (8,910) |  |  | (21,498) |  |  | — |  |  | — |  |  | — |  |  | 31,390 |
Right-of-use assets - Software | 66,837 |  |  | 5,626 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 72,463 |
| 1,187,173 |  |  | 264,646 |  |  | (36,213) |  |  | — |  |  | 368 |  |  | (1,895) |  |  | 7,298,400 |  |  | 8,712,479 |
Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationship | (50,543) |  |  | (53,114) |  |  | — |  |  | — |  |  | — |  |  | 104 |  |  | — |  |  | (103,553) |
Trademark use right | (12,491) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (12,491) |
Trademarks and patents | (793) |  |  | 2,741 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,948 |
Software | (55,508) |  |  | (109,836) |  |  | 1,212 |  |  | (2,867) |  |  | — |  |  | 266 |  |  | — |  |  | (166,733) |
Licenses for use - payment arrangements | (13,295) |  |  | (943) |  |  | — |  |  | 2,867 |  |  | — |  |  | — |  |  | — |  |  | (11,371) |
Operating license | — |  |  | (5,790) |  |  | — |  |  | — |  |  | — |  |  | 278 |  |  | — |  |  | (5,512) |
Exclusivity right | (647) |  |  | 647 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Right-of-use assets - Software | (14,010) |  |  | (30,444) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (44,454) |
| (147,287) |  |  | (196,739) |  |  | 1,212 |  |  | — |  |  | — |  |  | 648 |  |  | — |  |  | (342,166) |
Intangible assets, net | 1,039,886 |  |  | 67,907 |  |  | (35,001) |  |  | — |  |  | 368 |  |  | (1,247) |  |  | 7,298,400 |  |  | 8,370,313 |
(a) | Of the total software additions, R$11,271 refers to Nodis asset acquisition (Note 29.3). The estimated useful life is 10 years.
(b) | Of the total disposals, R$2,407 refers to the sale of Linked (Note 2.1 (a)).
| Balance at 12/31/2019 |  | Additions |  | Disposals |  | Transfers |  | Business combination |  | Balance at 12/31/2020
Cost |  |  |  |  |  |  |  |  |  |  |
Goodwill - acquisition of subsidiaries | 143,194 |  |  | — |  |  | — |  |  | — |  |  | 510,850 |  |  | 654,044 |
Customer relationship | 99,368 |  |  | 4,300 |  |  | — |  |  | — |  |  | 51,433 |  |  | 155,101 |
Trademark use right | 12,491 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12,491 |
Trademarks and patents | 1,732 |  |  | 7 |  |  | — |  |  | — |  |  | 1,989 |  |  | 3,728 |
Software | 134,612 |  |  | 37,477 |  |  | (11,899) |  |  | 27,561 |  |  | 16,898 |  |  | 204,649 |
Licenses for use - payment arrangements | 11,518 |  |  | 9,035 |  |  | — |  |  | — |  |  | 4,697 |  |  | 25,250 |
Operating license | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Exclusivity right | — |  |  | — |  |  | — |  |  | — |  |  | 38,827 |  |  | 38,827 |
Software in progress | 20,032 |  |  | 32,654 |  |  | (190) |  |  | (27,561) |  |  | 1,311 |  |  | 26,246 |
Right-of-use assets - software | 37,513 |  |  | 66,837 |  |  | (37,513) |  |  | — |  |  | — |  |  | 66,837 |
| 460,460 |  |  | 150,310 |  |  | (49,602) |  |  | — |  |  | 626,005 |  |  | 1,187,173 |
Amortization |  |  |  |  |  |  |  |  |  |  |
Customer relationship | (37,093) |  |  | (13,450) |  |  | — |  |  | — |  |  | — |  |  | (50,543) |
Trademark use right | (12,491) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (12,491) |
Trademarks and patents | (448) |  |  | (345) |  |  | — |  |  | — |  |  | — |  |  | (793) |
Software | (26,515) |  |  | (34,099) |  |  | 9,438 |  |  | — |  |  | (4,332) |  |  | (55,508) |
Licenses for use - payment arrangements | (6,046) |  |  | (4,240) |  |  | — |  |  | — |  |  | (3,009) |  |  | (13,295) |
Operating license | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Exclusivity right | — |  |  | (647) |  |  | — |  |  | — |  |  | — |  |  | (647) |
Right-of-use assets - software | (4,168) |  |  | (18,178) |  |  | 8,336 |  |  | — |  |  | — |  |  | (14,010) |
| (86,761) |  |  | (70,959) |  |  | 17,774 |  |  | — |  |  | (7,341) |  |  | (147,287) |
Intangible assets, net | 373,699 |  |  | 79,351 |  |  | (31,828) |  |  | — |  |  | 618,664 |  |  | 1,039,886 |
12.2. Impairment test As of December 31, 2021, and 2020, there were no indicators of impairment of finite-life intangible assets. The Group performs its impairment testing for goodwill by testing the impairment of the CGU (or group of CGUs) that contains goodwill. On December 31, 2021, the Group has six different CGU’s, defined considering whether cash flows of one CGU are largely independent of other CGUs. The table below presents a description of the GCU’s:
CGU | Goodwill allocated | Indefinite useful-life intangible assets allocated | Description
CGU 1 – Linx Group | 5,037,584 |  | 214,579 |  | This CGU comprise all the companies acquired in the business combination with Linx. The Group considers that these companies represent a stand-alone separate business, as well have synergies in infrastructure, development, and commercial design.
CGU 2 – Technology enterprises | 203,009 |  | 6,637 |  | In this CGU are included the technology companies that aim to provide new offers to customers related to the technology platform of the Group. This CGU includes operating companies and their respective holding companies.
CGU 3 – Questor | 16,726 |  | 5,734 |  | This CGU comprises only Questor, which is considered by the Group as a technology enterprise, but without synergies and correlated business with the companies included in the CGU 2. Due to that, is treated as a separate CGU.
CGU 4 – Creditinfo Caribbean | 24,179 |  | — |  | Due to the specificity of credit bureau services provided by the Creditinfo Caribbean and its independence of the other Group’s companies, Creditinfo Caribbean is considered a separate CGU.
CGU 5 – Financial assets register | — |  | — |  | This CGU comprises only TAG, which activity is related to financial assets registration. Due to the specific service provided by this company and its independence of the other Group’s companies, the Group considers TAG as a separate CGU.
CGU 6 – Financial solutions | 434,342 |  | 14,481 |  | Companies related to financial solutions are included in this CGU. The Group considers these companies as a CGU due the integrated financial solutions provided by them, as capture, processing, transmission, and financial liquidation of transactions with debit and credit card, among other services. This CGU includes operating companies and their respective holding companies.
The Group performed its annual impairment test as of December 31, 2021 and 2020 which did not result in the need to recognize impairment losses on the carrying amount of any of the CGUs. The recoverable amount of the Group’s CGUs as of December 31, 2021 and 2020 has been determined based on a value in use calculation using cash flow projections from financial budgets approved by senior management covering a period from 5 to 10 years depending on the characteristics of each CGU. The key assumptions used in value in use calculation are as follows: •Average free cash flow to equity between five and ten years for the forecasted period. The use of a ten-year period for the CGU Linx Group results mainly from the fact that some of the software offerings for specific segments are at their initial stages of operations within high growth markets and that operational synergies are expected by the Group. •Average annual growth rate over the five to ten-year forecast period, based on past performance and management’s expectations of market development and on current industry trends and including long-term inflation forecasts. •Considered a pre-tax discount rate applied to cash flow between 10.5% and 18.0% (2020 – 10.5%), based on long-term interest rate, country risk premium, industry adjusted beta and other variables. •Considered a perpetuity growth rate between 4.3% and 6.5% (2020 - 5.0%), based on long-term local inflation and real growth. The Group carried out a sensitivity analysis of the impairment test considering four independent scenarios of key assumptions deterioration, as described below: •an increase of 100 basis points in pre-tax discount rate; •a decrease of 10.0% in the value of the free cash flow to equity for all projected years; •a decrease of 50 basis points in perpetuity rate applied after the last year of projected cash flow; •a decrease of 10.0% in the value of the expected synergies originated in the business combination with Linx for all projected years. The impairment test would not result in an impairment loss on any of the CGUs carrying amounts in any of the four independent scenarios described above.

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