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Statements of Cash Flows—Indirect Method - BRL (R$)
R$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net income for the year R$ 1,573,868 R$ 1,570,618 R$ 1,512,972
Adjustments to reconcile net income to cash provided by operating activities      
Share of loss (profit) of joint ventures and associates (20,673) (7,476) 10,884
Depreciation and amortization 1,175,951 1,103,538 1,002,647
PIS and COFINS credits on depreciation 13,134 12,581 12,146
Asset retirement obligation (15,432) (2,785) (3,949)
Interest, monetary, and foreign exchange rate variations 854,671 763,793 1,582,579
Deferred income and social contribution taxes (83,029) (100,505) 14,813
(Gain) loss on disposal of property, plant and equipment and intangibles 2,242 6,134 (27,276)
Others (868) (6,515) 13,313
Adjustments, total 3,499,864 3,339,383 4,118,129
(Increase) decrease in current assets      
Trade receivables (665,145) (326,695) (615,381)
Inventories (605,757) (262,993) (615,390)
Recoverable taxes (334,217) 87,006 (60,141)
Dividends received from joint-ventures and associates 29,411 7,925 3,417
Insurance and other receivables 358,682 (309,725) 13,555
Prepaid expenses (23,016) (39,980) (14,209)
Increase (decrease) in current liabilities      
Trade payables 412,393 249,121 181,030
Salaries and related charges 7,149 (41,595) 109,734
Taxes payable 34,707 2,229 29,969
Income and social contribution taxes 783,663 567,286 504,495
Post-employment benefits 5,119 11,193 0
Provision for tax, civil, and labor risks 11,857 7,372 (18,847)
Insurance and other payables (33,955) 56,811 29,235
Deferred revenue (3,887) (2,120) 970
(Increase) decrease in non-current assets      
Trade receivables (102,905) (74,846) (8,433)
Recoverable taxes (130,200) (47,168) (60,045)
Escrow deposits (39,795) (37,935) (44,000)
Other receivables (4,356) 13,829 (10,675)
Prepaid expenses (116,735) (65,847) (15,437)
Increase (decrease) in non-current liabilities      
Post-employment benefits 13,209 (40) 10,868
Provision for tax, civil, and labor risks (68,193) 42,428 61,388
Other payables 87,950 (19,255) 20,130
Deferred revenue 385 1,474 3,327
Income and social contribution taxes paid (836,808) (644,188) (422,010)
Net cash provided by operating activities 2,279,420 2,513,670 3,201,679
Cash flows from investing activities      
Financial investments, net of redemptions 60,859 (163,625) 573,446
Acquisition of subsidiary, net of cash acquired 59,863 0 0
Acquisition of property, plant, and equipment (1,262,558) (1,015,199) (803,503)
Acquisition of intangible assets (801,971) (651,171) (609,600)
Capital increase in joint ventures (16,000) (47,281) (41,080)
Proceeds from disposal of property, plant and equipment and intangibles 47,670 28,500 78,941
Net cash used in investing activities (1,912,137) (1,848,776) (801,796)
Cash flows from financing activities      
Proceeds 4,510,694 3,676,874 2,384,589
Repayments (2,462,200) (812,520) (2,824,543)
Interest paid (769,740) (1,057,580) (855,190)
Payments of financial lease (5,191) (5,016) (5,174)
Dividends paid (940,250) (873,270) (831,654)
Acquisition of non-controlling interests of subsidiaries 0 0 (9)
Acquisition of own shares to be held in treasury 0 0 (388,718)
Related parties 7,036 (100) 0
Net cash provided by (used in) financing activities 340,349 928,388 (2,520,699)
Effect of exchange rate changes on cash and cash equivalents in foreign currency 20,214 (22,017) (3,660)
Increase (decrease) in cash and cash equivalents 727,846 1,571,265 (124,476)
Cash and cash equivalents at the beginning of the year 4,274,158 2,702,893 2,827,369
Cash and cash equivalents at the end of the year R$ 5,002,004 R$ 4,274,158 R$ 2,702,893