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Derivative financial instruments (Tables)

12 Months Ended

Dec. 31, 2021

Derivative financial instruments

Summary of amortized cost, fair value and maturity of derivative financial instruments

12/31/2021

12/31/2020

Amortized

Fair value

Up to

From 3 to

From 1 to 3

From 3 to 5

cost

adjustment

Fair value

3 months

12 months

years

years

Total

Total

Assets (A)

Receivable forward purchase

87,036

(88)

86,948

86,948

—

—

—

86,948

27,513

Liabilities (B) (i)

Payable adjustment - swap

66,545

—

66,545

—

(29,452)

(25,567)

(11,526)

(66,545)

(56,758)

Net effect (A-B)

153,581

(88)

153,493

86,948

(29,452)

(25,567)

(11,526)

20,403

(29,245)

Summary of notional value of forward and swap contracts

Up to

3 months

1 year to

Above

Total

Total

3 months

to 1 year

3 years

3 years

12/31/2021

12/31/2020

Forward contract - assets

86,948

—

—

—

86,948

27,513

Swap contracts - liabilities

—

94,856

53,500

24,577

172,933

288,592

Total

86,948

94,856

53,500

24,577

259,881

316,105

Summary of basis swap contracts


12/31/2021
				Notional		Amortized cost				Fair value
Indexes		Contracts		Value		Bank		Counterparty		Bank		Counterparty		Gain (loss)
CDI x IGPM		906723043		17,550		19,433		29,143		19,433		29,187		(9,754)
CDI x IGPM		906723159		17,306		19,164		28,785		19,164		28,629		(9,465)
CDI x IGPM		906723160		12,000		13,193		19,342		13,193		19,035		(5,842)
CDI x IGPM		906723161		14,000		15,392		22,630		15,392		22,171		(6,779)
CDI x IGPM		906723162		11,500		12,628		18,541		12,628		18,049		(5,421)
CDI x IGPM		906723163		16,000		17,569		25,900		17,569		25,094		(7,525)
CDI x IGPM		906723164		11,000		12,079		17,846		12,079		17,222		(5,143)
CDI x IGPM		906723165		13,500		14,824		21,953		14,824		21,133		(6,309)
Total CDI x IGPM				112,856		124,282		184,140		124,282		180,520		(56,238)

12/31/2021

Notional

Amortized cost

Fair value

Indexes

Contracts

Value

Bank

Counterparty

Bank

Counterparty

Gain (loss)

CDI x IPCA

905638603

10,000

11,128

12,866

11,056

12,885

(1,829)

CDI x IPCA

905638611

50,000

55,639

64,535

55,639

64,117

(8,478)

Total CDI x IPCA

60,000

66,767

77,401

66,695

77,002

(10,307)

Grand Total

172,856

191,049

261,541

190,977

257,522

(66,545)


12/31/2020
				Notional		Amortized cost				Fair value
Indexes		Contracts		Value		Bank		Counterparty		Bank		Counterparty		Gain (loss)
CDI x IGPM		906722276		35,842		38,015		48,365		38,015		47,959		(9,944)
CDI x IGPM		906722594		29,894		31,706		40,400		31,706		39,464		(7,758)
CDI x IGPM		906722608		17,550		18,614		23,790		18,614		23,293		(4,679)
CDI x IGPM		906723043		17,306		18,356		23,484		18,356		23,140		(4,784)
CDI x IGPM		906723159		12,000		12,637		15,832		12,637		15,509		(2,872)
CDI x IGPM		906723160		14,000		14,743		18,540		14,743		18,195		(3,452)
CDI x IGPM		906723161		11,500		12,095		15,199		12,095		14,878		(2,783)
CDI x IGPM		906723162		16,000		16,828		21,199		16,828		20,901		(4,073)
CDI x IGPM		906723163		11,000		11,570		14,589		11,570		14,460		(2,890)
CDI x IGPM		906723164		13,500		14,199		17,934		14,199		17,834		(3,635)
Total CDI x IGPM				178,592		188,763		239,332		188,763		235,633		(46,870)


12/31/2020
				Notional		Amortized cost				Fair value
Indexes		Contracts		Value		Bank		Counterparty		Bank		Counterparty		Gain (loss)
CDI x IPCA		905638590		50,000		53,293		55,651		53,293		56,358		3,066
CDI x IPCA		905638603		10,000		10,659		11,203		10,659		11,698		(1,039)
CDI x IPCA		905638611		50,000		53,293		56,133		53,293		59,076		(5,783)
Total CDI x IPCA				110,000		117,245		122,987		117,245		127,132		9,888

Grand Total				288,592		306,008		362,319		306,008		362,765		56,758