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v3.19.1

Presentation of Financial Statements and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2018
Statement [LineItems] |
Summary of Foreign Subsidiaries | The foreign subsidiaries with functional currency different from the Company and which have administrative autonomy are listed below:
Subsidiary |  | Functional currency |  | Location
Oxiteno México S.A. de C.V. |  | Mexican Peso |  | Mexico
Oxiteno Servicios Corporativos S.A. de C.V. |  | Mexican Peso |  | Mexico
Oxiteno Servicios Industriales S.A. de C.V. |  | Mexican Peso |  | Mexico
Oxiteno USA LLC |  | U.S. Dollar |  | United States
Oxiteno Uruguay S.A. (i) |  | U.S. Dollar |  | Uruguay
Oxiteno Andina, C.A. (ii) |  | Bolivar Soberano |  | Venezuela
(i) | The subsidiary Oxiteno Uruguay S.A. (“Oxiteno Uruguay”) determined its functional currency as the U.S. dollar (“US$”), as its inventory sales, purchases of raw material inputs, and financing activities are performed substantially in this currency.
(ii) | According the definition and general guidance of IAS 29, the characteristics of the economic environment of Venezuela indicate that this country is a hyperinflationary economy. As a result, the financial information of Oxiteno Andina, C.A. (“Oxiteno Andina”) was adjusted by the Venezuelan Consumer Price Index.
Summary of Impairment Loss of Subsidiary |
Current assets |  |  |  |
Cash and cash equivalents |  |  | 1,703 |
Trade receivables |  |  | 290 |
Inventories |  |  | 985 |
Other receivables |  |  | 160 |
|  | 3,138 |
Non-current assets |  |  |  |
Property, plant, and equipment, net |  |  | 2,427 |
Total of impairment loss |  |  | 5,565 |
Summary of Classification and Measurement of Financial Instruments |
|  | 2017 |
|  | Classification as previously reported according to IAS 39 |  |  | New classification according to IFRS 9 |
|  | Category |  | Carrying value |  |  | Measured at fair value through profit or loss |  |  | Measured at fair value through other comprehensive income |  |  | Measured at amortized cost |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and bank deposits |  | Loans and receivables |  |  | 147,926 |  |  |  | — |  |  |  | — |  |  |  | 147,926 |
Financial investments in local currency |  | Measured at fair value through profit or loss |  |  | 4,821,605 |  |  |  | — |  |  |  | 4,821,605 |  |  |  | — |
Financial investments in foreign currency |  | Measured at fair value through profit or loss |  |  | 32,473 |  |  |  | 32,473 |  |  |  | — |  |  |  | — |
Financial investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-income securities and funds in local currency |  | Available for sale |  |  | 68,742 |  |  |  | — |  |  |  | 2,720 |  |  |  | 66,022 |
Fixed-income securities and funds in local currency |  | Measured at fair value through profit or loss |  |  | 1,076,849 |  |  |  | 1,076,849 |  |  |  | — |  |  |  | — |
Fixed-income securities and funds in local currency |  | Held to maturity |  |  | 7,449 |  |  |  | — |  |  |  | — |  |  |  | 7,449 |
Fixed-income securities and funds in foreign currency |  | Available for sale |  |  | 129,131 |  |  |  | — |  |  |  | 129,131 |  |  |  | — |
Currency and interest rate hedging instruments |  | Measured at fair value through profit or loss |  |  | 85,753 |  |  |  | 85,753 |  |  |  | — |  |  |  | — |
Total |  |  |  |  | 6,369,928 |  |  |  | 1,195,075 |  |  |  | 4,953,456 |  |  |  | 221,397 |
Summary of Impacts of Adoption | The tables below summarize the effects of the IFRS 9 and 15 adoption and reclassifications on statements of financial position, statements of profit or loss and statements of cash flow: 2. x.1 Adoption of the Pronouncements as of January 1, 2017 Statements of Financial Position
Assets |  | As previously reported – 12/31/2016 |  |  | IFRS 9 adoption (1) |  |  | IFRS 15 adoption (2) |  |  | Reclassifications (3) |  |  | After adoption IFRS 9 and 15 and reclassification – 1/1/2017 |
Current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables and reseller financing |  |  | 3,502,322 |  |  |  | (84,713 | ) |  |  | (29,442 | ) |  |  | — |  |  |  | 3,388,167 |
Inventories |  |  | 2,761,207 |  |  |  | — |  |  |  | 20,170 |  |  |  | — |  |  |  | 2,781,377 |
Contractual assets with customers – exclusive rights |  |  | — |  |  |  | — |  |  |  | 448,316 |  |  |  | — |  |  |  | 448,316 |
Other current assets |  |  | 6,748,267 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,748,267 |
Total current assets |  |  | 13,011,796 |  |  |  | (84,713 | ) |  |  | 439,044 |  |  |  | — |  |  |  | 13,366,127 |
Non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contractual assets with customers – exclusive rights |  |  | — |  |  |  | — |  |  |  | 989,768 |  |  |  | — |  |  |  | 989,768 |
Deferred income and social contribution taxes |  |  | 417,344 |  |  |  | 28,802 |  |  |  | 13,472 |  |  |  | — |  |  |  | 459,618 |
Other non-current assets |  |  | 1,429,262 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,429,262 |
Total long term assets |  |  | 1,846,606 |  |  |  | 28,802 |  |  |  | 1,003,240 |  |  |  | — |  |  |  | 2,878,648 |
Investments |  |  | 141,687 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 141,687 |
Property, plant, and equipment |  |  | 5,787,982 |  |  |  | — |  |  |  | — |  |  |  | 8,436 |  |  |  | 5,796,418 |
Intangible assets |  |  | 3,371,599 |  |  |  | — |  |  |  | (1,471,527 | ) |  |  | (8,436 | ) |  |  | 1,891,636 |
Total non-current assets |  |  | 11,147,874 |  |  |  | 28,802 |  |  |  | (468,287 | ) |  |  | — |  |  |  | 10,708,389 |
Total assets |  |  | 24,159,670 |  |  |  | (55,911 | ) |  |  | (29,243 | ) |  |  | — |  |  |  | 24,074,516 |
Liabilities |  | As previously reported – 12/31/2016 |  |  | IFRS 9 adoption (1) |  |  | IFRS 15 adoption (2) |  |  | Reclassifications (3) |  |  | After adoption IFRS 9 and 15 and reclassification – 1/1/2017 |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxes payable |  |  | 171,033 |  |  |  | — |  |  |  | (2,647 | ) |  |  | — |  |  |  | 168,386 |
Other current liabilities |  |  | 5,315,913 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,315,913 |
Total current liabilities |  |  | 5,486,946 |  |  |  | — |  |  |  | (2,647 | ) |  |  | — |  |  |  | 5,484,299 |
Non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total non-current liabilities |  |  | 10,114,166 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10,114,166 |
Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Profit reserves |  |  | 4,466,392 |  |  |  | (55,831 | ) |  |  | (26,596 | ) |  |  | — |  |  |  | 4,383,965 |
Other equity items |  |  | 4,061,231 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,061,231 |
Equity attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shareholders of the Company |  |  | 8,527,623 |  |  |  | (55,831 | ) |  |  | (26,596 | ) |  |  | — |  |  |  | 8,445,196 |
Non-controlling interests in subsidiaries |  |  | 30,935 |  |  |  | (80 | ) |  |  | — |  |  |  | — |  |  |  | 30,855 |
Total equity |  |  | 8,558,558 |  |  |  | (55,911 | ) |  |  | (26,596 | ) |  |  | — |  |  |  | 8,476,051 |
Total liabilities and equity |  |  | 24,159,670 |  |  |  | (55,911 | ) |  |  | (29,243 | ) |  |  | — |  |  |  | 24,074,516 |
Statements of Profit or Loss
|  | As previously reported – 2016 |  |  | IFRS 9 adoption (1) |  |  | IFRS 15 adoption (2) |  |  | Reclassifications (3) |  |  | After adoption IFRS 9 and 15 and reclassification – 2016 |
Net revenue from sales and services |  |  | 77,352,955 |  |  |  | — |  |  |  | (471,115 | ) |  |  | (141,807 | ) |  |  | 76,740,033 |
Cost of products and services sold |  |  | (70,342,723 | ) |  |  | — |  |  |  | 3,971 |  |  |  | 141,807 |  |  |  | (70,196,945 | )
Gross profit |  |  | 7,010,232 |  |  |  | — |  |  |  | (467,144 | ) |  |  | — |  |  |  | 6,543,088 |
Operating income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing |  |  | (2,651,501 | ) |  |  | (44,074 | ) |  |  | 475,382 |  |  |  | — |  |  |  | (2,220,193 | )
Other operating income (expenses) items |  |  | (1,253,021 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,253,021 | )
Operating income before financial income (expenses) and share of profit of joint ventures and associates |  |  | 3,105,710 |  |  |  | (44,074 | ) |  |  | 8,238 |  |  |  | — |  |  |  | 3,069,874 |
Financial result, net |  |  | (842,576 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (842,576 | )
Share of profit of joint ventures and associates |  |  | 7,476 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,476 |
Income before income and social contribution taxes |  |  | 2,270,610 |  |  |  | (44,074 | ) |  |  | 8,238 |  |  |  | — |  |  |  | 2,234,774 |
Income and social contribution taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | (800,497 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (800,497 | )
Deferred |  |  | 100,505 |  |  |  | 14,835 |  |  |  | (2,801 | ) |  |  | — |  |  |  | 112,539 |
|  |  | (699,992 | ) |  |  | 14,835 |  |  |  | (2,801 | ) |  |  | — |  |  |  | (687,958 | )
Net income for the year |  |  | 1,570,618 |  |  |  | (29,239 | ) |  |  | 5,437 |  |  |  | — |  |  |  | 1,546,816 |
Net income for the year attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shareholders of the Company |  |  | 1,561,585 |  |  |  | (29,189 | ) |  |  | 5,441 |  |  |  | — |  |  |  | 1,537,837 |
Non-controlling interests in subsidiaries |  |  | 9,033 |  |  |  | (50 | ) |  |  | (4 | ) |  |  | — |  |  |  | 8,979 |
Earnings per share (based on weighted average number of shares outstanding) – R$ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 1.4422 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.4203 |
Diluted |  |  | 1.4313 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.4095 |
Statements of Cash Flows
|  | As previously reported – 2016 |  |  | IFRS 9 adoption (1) |  |  | IFRS 15 adoption (2) |  |  | Reclassifications (3) |  |  | After adoption IFRS 9 and 15 and reclassification – 2016 |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income for the year |  |  | 1,570,618 |  |  |  | (29,239 | ) |  |  | 5,437 |  |  |  | — |  |  |  | 1,546,816 |
Adjustments to reconcile net income to cash provided by operating activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share of loss (profit) of joint ventures and associates |  |  | (7,476 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (7,476 | )
Amortization of contractual assets with customers – exclusive rights |  |  | — |  |  |  | — |  |  |  | 463,490 |  |  |  | — |  |  |  | 463,490 |
Depreciation and amortization |  |  | 1,103,538 |  |  |  | — |  |  |  | (475,382 | ) |  |  | — |  |  |  | 628,156 |
PIS and COFINS credits on depreciation |  |  | 12,581 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12,581 |
Asset retirement obligation |  |  | (2,785 | ) |  |  | — |  |  |  | — |  |  |  | 2,785 |  |  |  | — |
Interest, monetary, and foreign exchange rate variations |  |  | 763,793 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 763,793 |
Deferred income and social contribution taxes |  |  | (100,505 | ) |  |  | (14,835 | ) |  |  | 2,801 |  |  |  | — |  |  |  | (112,539 | )
(Gain) loss on disposal of property, plant and equipment and intangibles |  |  | 6,134 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,134 |
Estimated credit losses on doubtful accounts |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 79,983 |  |  |  | 79,983 |
Provision for losses in inventories |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 555 |  |  |  | 555 |
Provision for post-employment benefits |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,631 |  |  |  | 7,631 |
Other provisions and adjustments |  |  | (6,515 | ) |  |  | — |  |  |  | 5,612 |  |  |  | — |  |  |  | (903 | )
|  |  | 3,339,383 |  |  |  | (44,074 | ) |  |  | 1,958 |  |  |  | 90,954 |  |  |  | 3,388,221 |
(Increase) decrease in current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables and reseller financing |  |  | (326,695 | ) |  |  | 44,074 |  |  |  | (4,115 | ) |  |  | (86,145 | ) |  |  | (372,881 | )
Inventories |  |  | (262,993 | ) |  |  | — |  |  |  | — |  |  |  | (4,526 | ) |  |  | (267,519 | )
Other current asset items |  |  | (254,774 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (254,774 | )
Increase (decrease) in current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxes payable |  |  | 2,229 |  |  |  | — |  |  |  | — |  |  |  | 1,792 |  |  |  | 4,021 |
Insurance and other payables |  |  | 56,811 |  |  |  | — |  |  |  | — |  |  |  | (2,785 | ) |  |  | 54,026 |
Other current liabilities items |  |  | 791,257 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 791,257 |
(Increase) decrease in non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current asset items |  |  | (211,967 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (211,967 | )
Increase (decrease) in non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Post-employment benefits |  |  | (40 | ) |  |  | — |  |  |  | — |  |  |  | (7,631 | ) |  |  | (7,671 | )
Other non-current liabilities items |  |  | 24,647 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24,647 |
Payments of contractual assets with customers – exclusive rights |  |  | — |  |  |  | — |  |  |  | (514,291 | ) |  |  | — |  |  |  | (514,291 | )
Income and social contribution taxes paid |  |  | (644,188 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (644,188 | )
Net cash provided by operating activities |  |  | 2,513,670 |  |  |  | — |  |  |  | (524,789 | ) |  |  | — |  |  |  | 1,988,881 |
|  | As previously reported –2016 |  |  | IFRS 9 adoption (1) |  |  | IFRS 15 adoption (2) |  |  | Reclassifications (3) |  |  | After adoption IFRS 9 and 15 and reclassification – 2016 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition of property, plant, and equipment |  |  | (1,015,199 | ) |  |  | — |  |  |  | — |  |  |  | (18,738 | ) |  |  | (1,033,937 | )
Acquisition of intangible assets |  |  | (651,171 | ) |  |  | — |  |  |  | 524,789 |  |  |  | 18,738 |  |  |  | (107,644 | )
Other investing activities items |  |  | (182,406 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (182,406 | )
Net cash used in investing activities |  |  | (1,848,776 | ) |  |  | — |  |  |  | 524,789 |  |  |  | — |  |  |  | (1,323,987 | )
Net cash provided by financing activities |  |  | 928,388 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 928,388 |
Effect of exchange rate changes on cash and cash equivalents in foreign currency |  |  | (22,017 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (22,017 | )
Increase in cash and cash equivalents |  |  | 1,571,265 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,571,265 |
Cash and cash equivalents at the beginning of the year |  |  | 2,702,893 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,702,893 |
Cash and cash equivalents at the end of the year |  |  | 4,274,158 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,274,158 |
2. x.2 Adoption of the Pronouncements as of December 31, 2017 Statements of Financial Position
Assets |  | As previously reported – 12/31/2017 |  |  | IFRS 9 adoption (1) |  |  | IFRS 15 adoption (2) |  |  | Reclassifications (3) |  |  | Fair value CBLSA (4) |  |  | After adoption IFRS 9 and 15 and reclassification – 12/31/2017 |
Current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables and reseller financing |  |  | 4,337,118 |  |  |  | (157,198 | ) |  |  | (32,026 | ) |  |  | — |  |  |  | — |  |  |  | 4,147,894 |
Inventories |  |  | 3,491,879 |  |  |  | — |  |  |  | 21,698 |  |  |  | — |  |  |  | 133 |  |  |  | 3,513,710 |
Contractual assets with customers – exclusive rights |  |  | — |  |  |  | — |  |  |  | 456,213 |  |  |  | — |  |  |  | — |  |  |  | 456,213 |
Other current assets |  |  | 7,372,294 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,372,294 |
Total current assets |  |  | 15,201,291 |  |  |  | (157,198 | ) |  |  | 445,885 |  |  |  | — |  |  |  | 133 |  |  |  | 15,490,111 |
Non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contractual assets with customers – exclusive rights |  |  | — |  |  |  | — |  |  |  | 1,046,147 |  |  |  | — |  |  |  | — |  |  |  | 1,046,147 |
Deferred income and social contribution taxes |  |  | 545,611 |  |  |  | 53,447 |  |  |  | 15,003 |  |  |  | — |  |  |  | — |  |  |  | 614,061 |
Other non-current assets |  |  | 2,107,965 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,107,965 |
Total long term assets |  |  | 2,653,576 |  |  |  | 53,447 |  |  |  | 1,061,150 |  |  |  | — |  |  |  | — |  |  |  | 3,768,173 |
Investments |  |  | 150,194 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 150,194 |
Property, plant, and equipment |  |  | 6,607,788 |  |  |  | — |  |  |  | — |  |  |  | 26,740 |  |  |  | 3,298 |  |  |  | 6,637,826 |
Intangible assets |  |  | 3,727,473 |  |  |  | — |  |  |  | (1,538,095 | ) |  |  | (26,740 | ) |  |  | 75,404 |  |  |  | 2,238,042 |
Total non-current assets |  |  | 13,139,031 |  |  |  | 53,447 |  |  |  | (476,945 | ) |  |  | — |  |  |  | 78,702 |  |  |  | 12,794,235 |
Total assets |  |  | 28,340,322 |  |  |  | (103,751 | ) |  |  | (31,060 | ) |  |  | — |  |  |  | 78,835 |  |  |  | 28,284,346 |
Liabilities |  | As previously reported – 12/31/2017 |  |  | IFRS 9 adoption (1) |  |  | IFRS 15 adoption (2) |  |  | Reclassifications (3) |  |  | Fair value CBLSA (4) |  |  | After adoption IFRS 9 and 15 and reclassification – 12/31/2017 |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxes payable |  |  | 225,829 |  |  |  | — |  |  |  | (4,300 | ) |  |  | — |  |  |  | — |  |  |  | 221,529 |
Other current liabilities |  |  | 6,788,159 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | — |  |  |  | 6,788,159 |
Total current liabilities |  |  | 7,013,988 |  |  |  | — |  |  |  | (4,300 | ) |  |  | — |  |  |  | — |  |  |  | 7,009,688 |
Non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred income and social contribution taxes |  |  | 38,524 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 45,118 |  |  |  | 83,642 |
Other non-current assets |  |  | 11,566,978 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | 11,566,978 |
Total non-current liabilities |  |  | 11,605,502 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 45,118 |  |  |  | 11,650,620 |
Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Profit reserves |  |  | 3,760,079 |  |  |  | (103,468 | ) |  |  | (26,760 | ) |  |  | — |  |  |  | — |  |  |  | 3,629,851 |
Valuation adjustments |  |  | 159,643 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4,819 | ) |  |  | 154,824 |
Other equity items |  |  | 5,461,539 |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | 5,461,539 |
Equity attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shareholders of the Company |  |  | 9,381,261 |  |  |  | (103,468 | ) |  |  | (26,760 | ) |  |  | — |  |  |  | (4,819 | ) |  |  | 9,246,214 |
Non-controlling interests in subsidiaries |  |  | 339,571 |  |  |  | (283 | ) |  |  |  |  |  |  | — |  |  |  | 38,536 |  |  |  | 377,824 |
Total equity |  |  | 9,720,832 |  |  |  | (103,751 | ) |  |  | (26,760 | ) |  |  | — |  |  |  | 33,717 |  |  |  | 9,624,038 |
Total liabilities and equity |  |  | 28,340,322 |  |  |  | (103,751 | ) |  |  | (31,060 | ) |  |  | — |  |  |  | 78,835 |  |  |  | 28,284,346 |
Statements of Profit or Loss
|  | As previously reported – 2017 |  |  | IFRS 9 adoption (1) |  |  | IFRS 15 adoption (2) |  |  | Reclassifications (3) |  |  | After adoption IFRS 9 and 15 and reclassification – 2017 |
Net revenue from sales and services |  |  | 80,007,422 |  |  |  | — |  |  |  | (474,628 | ) |  |  | (302,780 | ) |  |  | 79,230,014 |
Cost of products and services sold |  |  | (72,735,781 | ) |  |  | — |  |  |  | 1,528 |  |  |  | 302,780 |  |  |  | (72,431,473 | )
Gross profit |  |  | 7,271,641 |  |  |  | — |  |  |  | (473,100 | ) |  |  | — |  |  |  | 6,798,541 |
Operating income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing |  |  | (2,885,311 | ) |  |  | (72,485 | ) |  |  | 471,407 |  |  |  | — |  |  |  | (2,486,389 | )
Other operating income (expenses) items |  |  | (1,519,410 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,519,410 | )
Operating income before financial income (expenses) and share of profit of joint ventures and associates |  |  | 2,866,920 |  |  |  | (72,485 | ) |  |  | (1,693 | ) |  |  | — |  |  |  | 2,792,742 |
Financial result, net |  |  | (474,296 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (474,296 | )
Share of profit of joint ventures and associates |  |  | 20,673 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 20,673 |
Income before income and social contribution taxes |  |  | 2,413,297 |  |  |  | (72,485 | ) |  |  | (1,693 | ) |  |  | — |  |  |  | 2,339,119 |
Income and social contribution taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | (922,458 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (922,458 | )
Deferred |  |  | 83,029 |  |  |  | 25,599 |  |  |  | 576 |  |  |  | — |  |  |  | 109,204 |
|  |  | (839,429 | ) |  |  | 25,599 |  |  |  | 576 |  |  |  | — |  |  |  | (813,254 | )
Net income for the year |  |  | 1,573,868 |  |  |  | (46,886 | ) |  |  | (1,117 | ) |  |  | — |  |  |  | 1,525,865 |
Net income for the year attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shareholders of the Company |  |  | 1,574,306 |  |  |  | (46,825 | ) |  |  | (976 | ) |  |  | — |  |  |  | 1,526,505 |
Non-controlling interests in subsidiaries |  |  | (438 | ) |  |  | (61 | ) |  |  | (141 | ) |  |  | — |  |  |  | (640 | )
Earnings per share (based on weighted average number of shares outstanding) – R$ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 1.4528 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.4084 |
Diluted |  |  | 1.4423 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.3984 |
Statements of Cash Flows
|  | As previously reported –2017 |  |  | IFRS 9 adoption (1) |  |  | IFRS 15 adoption (2) |  |  | Reclassifications (3) |  |  | After adoption IFRS 9 and 15 and reclassification –2017 |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income for the year |  |  | 1,573,868 |  |  |  | (46,886 | ) |  |  | (1,117 | ) |  |  | — |  |  |  | 1,525,865 |
Adjustments to reconcile net income to cash provided by operating activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share of loss (profit) of joint ventures and associates |  |  | (20,673 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (20,673 | )
Amortization of contractual assets with customers – exclusive rights |  |  | — |  |  |  | — |  |  |  | 463,049 |  |  |  | — |  |  |  | 463,049 |
Depreciation and amortization |  |  | 1,175,951 |  |  |  | — |  |  |  | (471,407 | ) |  |  | — |  |  |  | 704,544 |
PIS and COFINS credits on depreciation |  |  | 13,134 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13,134 |
Asset retirement obligation |  |  | (15,432 | ) |  |  | — |  |  |  | — |  |  |  | 15,432 |  |  |  | — |
Interest, monetary, and foreign exchange rate variations |  |  | 854,671 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 854,671 |
Deferred income and social contribution taxes |  |  | (83,029 | ) |  |  | (25,599 | ) |  |  | (576 | ) |  |  | — |  |  |  | (109,204 | )
(Gain) loss on disposal of property, plant and equipment and intangibles |  |  | 2,242 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,242 |
Estimated credit losses on doubtful accounts |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 132,756 |  |  |  | 132,756 |
Provision for losses in inventories |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (802 | ) |  |  | (802 | )
Provision for post-employment benefits |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13,968 |  |  |  | 13,968 |
Other provisions and adjustments |  |  | (868 | ) |  |  | — |  |  |  | 2,407 |  |  |  | — |  |  |  | 1,539 |
|  |  | 3,499,864 |  |  |  | (72,485 | ) |  |  | (7,644 | ) |  |  | 161,354 |  |  |  | 3,581,089 |
(Increase) decrease in current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables and reseller financing |  |  | (665,145 | ) |  |  | 72,485 |  |  |  | (3,006 | ) |  |  | (129,574 | ) |  |  | (725,240 | )
Inventories |  |  | (605,757 | ) |  |  | — |  |  |  | — |  |  |  | (727 | ) |  |  | (606,484 | )
Other current asset items |  |  | 30,860 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 30,860 |
Increase (decrease) in current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxes payable |  |  | 34,707 |  |  |  | — |  |  |  | — |  |  |  | (1,653 | ) |  |  | 33,054 |
Insurance and other payables |  |  | (33,955 | ) |  |  | — |  |  |  | — |  |  |  | (15,432 | ) |  |  | (49,387 | )
Other current liabilities items |  |  | 1,216,294 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,216,294 |
(Increase) decrease in non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current asset items |  |  | (393,991 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (393,991 | )
Increase (decrease) in non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Post-employment benefits |  |  | 13,209 |  |  |  | — |  |  |  | — |  |  |  | (13,968 | ) |  |  | (759 | )
Other non-current liabilities items |  |  | 20,142 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 20,142 |
Payments of contractual assets with customers – exclusive rights |  |  | — |  |  |  | — |  |  |  | (529,732 | ) |  |  | — |  |  |  | (529,732 | )
Income and social contribution taxes paid |  |  | (836,808 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (836,808 | )
Net cash provided by operating activities |  |  | 2,279,420 |  |  |  | — |  |  |  | (540,382 | ) |  |  | — |  |  |  | 1,739,038 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition of property, plant, and equipment |  |  | (1,262,558 | ) |  |  | — |  |  |  | — |  |  |  | (39,629 | ) |  |  | (1,302,187 | )
Acquisition of intangible assets |  |  | (801,971 | ) |  |  | — |  |  |  | 540,382 |  |  |  | 39,629 |  |  |  | (221,960 | )
Other investing activities items |  |  | 152,392 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 152,392 |
Net cash used in investing activities |  |  | (1,912,137 | ) |  |  | — |  |  |  | 540,382 |  |  |  | — |  |  |  | (1,371,755 | )
Net cash provided by financing activities |  |  | 340,349 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 340,349 |
Effect of exchange rate changes on cash and cash equivalents in foreign currency |  |  | 20,214 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 20,214 |
Increase in cash and cash equivalents |  |  | 727,846 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 727,846 |
Cash and cash equivalents at the beginning of the year |  |  | 4,274,158 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,274,158 |
Cash and cash equivalents at the end of the year |  |  | 5,002,004 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,002,004 |
Summary of Adoption of Pronouncesments Issued | The following standards, amendments, and interpretations to IFRS were issued by the IASB are not effective as of December 31, 2018:
|  | Effective date
(i) IFRS 16—Lease: requires lessees’ record, in the financial statements, a liability reflecting future payments of a lease and the right to use an asset for the lease contracts, except for certain short-term leases and low asset value contracts. The criteria for recognition and measurement of leases in the financial statements of lessors are substantially maintained. |  | 2019
(ii)  Uncertainty over income tax treatments – IFRIC 23: clarifies how to apply the recognition and measurement requirements in IAS 12– when there is uncertainty over income tax treatments. In such circumstance, an entity shall recognize and measure its current or deferred tax asset or liability applying the requirements in IAS 12 based on taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates, applying this interpretation. |  | 2019
IFRS 16 [member] |
Statement [LineItems] |
Summary of he Range Of Estimated Impacts On the Adoption Of the Ifrs 16 | The table below summarizes the range of estimated impacts on the adoption of the IFRS 16, as of January 1, 2019:
|  | From |  |  | To |
Current assets |  |  |  |  |  |  |  |
Prepaid expenses |  |  | (38,939 | ) |  |  | (38,939 | )
Non-current assets |  |  |  |  |  |  |  |
Prepaid expenses |  |  | (288,630 | ) |  |  | (288,630 | )
Right of use assets |  |  | 1,731,314 |  |  |  | 1,940,091 |
Intangible assets |  |  | (39,178 | ) |  |  | (39,178 | )
Total assets |  |  | 1,364,567 |  |  |  | 1,573,344 |
Current liabilities |  |  |  |  |  |  |  |
Lease contracts payable |  |  | 184,136 |  |  |  | 219,399 |
Non-Current liabilities |  |  |  |  |  |  |  |
Lease contracts payable |  |  | 1,180,431 |  |  |  | 1,353,945 |
Total liabilities |  |  | 1,364,567 |  |  |  | 1,573,344 |

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