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Balance Sheets - BRL (R$)
R$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents R$ 5,002,004 R$ 4,274,158
Financial investments and hedging instruments 1,283,498 1,412,587
Trade receivables and reseller financing, net 4,337,118 3,502,322
Inventories, net 3,491,879 2,761,207
Recoverable taxes, net 881,584 541,772
Dividends receivable 11,137 8,616
Other receivables 44,025 20,573
Trade receivables – insurer’s indemnification 0 366,678
Prepaid expenses, net 150,046 123,883
Total current assets 15,201,291 13,011,796
Non-current assets    
Financial investments and hedging instruments 84,426 15,104
Trade receivables and reseller financing, net 329,991 227,085
Related parties 490 490
Deferred income and social contribution taxes 545,611 417,344
Recoverable taxes, net 313,242 182,617
Escrow deposits 822,660 778,770
Indemnity asset – business combination 202,352 0
Other receivables 7,918 2,678
Prepaid expenses, net 346,886 222,518
Total long term assets 2,653,576 1,846,606
Investments    
In joint-ventures 122,061 116,142
In associates 25,341 22,731
Other 2,792 2,814
Property, plant, and equipment, net 6,607,788 5,787,982
Intangible assets, net 3,727,473 3,371,599
Total investments 10,485,455 9,301,268
Total non-current assets 13,139,031 11,147,874
Total assets 28,340,322 24,159,670
Current liabilities    
Loans and hedging instruments 1,819,766 1,821,398
Debentures 1,681,199 651,591
Finance leases 2,710 2,615
Trade payables 2,155,498 1,709,653
Salaries and related charges 388,118 362,718
Taxes payable 225,829 171,033
Dividends payable 338,845 320,883
Income and social contribution taxes payable 86,836 139,981
Post-employment benefits 30,059 24,940
Provision for asset retirement obligation 4,799 4,563
Provision for tax, civil, and labor risks 64,550 52,694
Payables – customers and third parties’ indemnification 72,216 99,863
Other payables 125,150 102,714
Deferred revenue 18,413 22,300
Total current liabilities 7,013,988 5,486,946
Non-current liabilities    
Loans and hedging instruments 6,113,545 6,800,135
Debentures 3,927,569 2,095,290
Finance leases 45,805 46,101
Related parties 4,185 4,272
Deferred income and social contribution taxes 38,524 7,645
Post-employment benefits 207,464 119,811
Provision for asset retirement obligation 59,975 73,001
Provision for tax, civil, and labor risks 861,246 727,088
Deferred revenue 12,896 12,510
Subscription warrants – indemnification 171,459 153,429
Other payables 162,834 74,884
Total non-current liabilities 11,605,502 10,114,166
Shareholders’ equity    
Share capital 5,171,752 3,838,686
Equity instrument granted 536 0
Capital reserve 549,778 552,038
Treasury shares (482,260) (483,879)
Revaluation reserve on subsidiaries 4,930 5,339
Profit reserves 3,760,079 4,466,392
Valuation adjustments 159,643 (23,987)
Cumulative translation adjustments 53,061 7,519
Additional dividends to the minimum mandatory dividends 163,742 165,515
Shareholders’ equity attributable to:    
Shareholders of the Company 9,381,261 8,527,623
Non-controlling interests in subsidiaries 339,571 30,935
Total shareholders’ equity 9,720,832 8,558,558
Total liabilities and shareholders’ equity R$ 28,340,322 R$ 24,159,670