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Segment Information | 12 Months Ended
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Dec. 31, 2018
Text block [abstract] |
Segment Information |
32. | Segment Information
The Company operates five main business segments: gas distribution, fuel distribution, chemicals, storage and drugstores. The gas distribution segment (Ultragaz) distributes LPG to residential, commercial, and industrial consumers, especially in the South, Southeast, and Northeast regions of Brazil. The fuel distribution segment (Ipiranga) operates the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants and related activities throughout all the Brazilian territory. The chemicals segment (Oxiteno) produces ethylene oxide and its main derivatives and fatty alcohols, which are raw materials used in the home and personal care, agrochemical, paints, varnishes, and other industries. The storage segment (Ultracargo) operates liquid bulk terminals, especially in the Southeast and Northeast regions of Brazil. The drugstores segment (Extrafarma) trades pharmaceutical, hygiene, and beauty products through its own drugstore chain in the North, Northeast and Southeast regions of the country. The segments shown in the financial statements are strategic business units supplying different products and services. Intersegment sales are at prices similar to those that would be charged to third parties. a. Financial information related to segments The main financial information of each of the Company’s segments are stated as follows:
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  |  |  |  | Restated (i) |  |  | Restated (i) |
Net revenue from sales and services: |  |  |  |  |  |  |  |  |  |  |  |
Ultragaz |  |  | 7,043,246 |  |  |  | 6,071,002 |  |  |  | 5,365,106 |
Ipiranga |  |  | 76,473,421 |  |  |  | 66,950,501 |  |  |  | 65,793,696 |
Oxiteno |  |  | 4,748,428 |  |  |  | 3,959,416 |  |  |  | 3,701,413 |
Ultracargo |  |  | 493,649 |  |  |  | 438,360 |  |  |  | 355,412 |
Extrafarma |  |  | 2,027,988 |  |  |  | 1,868,919 |  |  |  | 1,578,605 |
|  |  | 90,786,732 |  |  |  | 79,288,198 |  |  |  | 76,794,232 |
Others (1) |  |  | 51,156 |  |  |  | 50,752 |  |  |  | 45,504 |
Intersegment sales |  |  | (139,905 | ) |  |  | (108,936 | ) |  |  | (99,703 | )
Total |  |  | 90,697,983 |  |  |  | 79,230,014 |  |  |  | 76,740,033 |
Intersegment sales: |  |  |  |  |  |  |  |  |  |  |  |
Ultragaz |  |  | 2,879 |  |  |  | 2,178 |  |  |  | 2,942 |
Ipiranga |  |  | 935 |  |  |  | 1,003 |  |  |  |  |
Oxiteno |  |  | 6,325 |  |  |  | 919 |  |  |  | 2,519 |
Ultracargo |  |  | 82,573 |  |  |  | 54,174 |  |  |  | 48,941 |
Extrafarma |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 92,712 |  |  |  | 58,274 |  |  |  | 54,402 |
Others (1) |  |  | 47,193 |  |  |  | 50,662 |  |  |  | 45,301 |
Total |  |  | 139,905 |  |  |  | 108,936 |  |  |  | 99,703 |
Net revenue from sales and services, excluding intersegment sales: |  |  |  |  |  |  |  |  |  |  |  |
Ultragaz |  |  | 7,040,367 |  |  |  | 6,068,824 |  |  |  | 5,362,164 |
Ipiranga |  |  | 76,472,486 |  |  |  | 66,949,498 |  |  |  | 65,793,696 |
Oxiteno |  |  | 4,742,103 |  |  |  | 3,958,497 |  |  |  | 3,698,894 |
Ultracargo |  |  | 411,076 |  |  |  | 384,186 |  |  |  | 306,471 |
Extrafarma |  |  | 2,027,988 |  |  |  | 1,868,919 |  |  |  | 1,578,605 |
|  |  | 90,694,020 |  |  |  | 79,229,924 |  |  |  | 76,739,830 |
Others (1) |  |  | 3,963 |  |  |  | 90 |  |  |  | 203 |
Total |  |  | 90,697,983 |  |  |  | 79,230,014 |  |  |  | 76,740,033 |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  |  |  |  | Restated (i) |  |  | Restated (i) |
Operating income (expense): |  |  |  |  |  |  |  |  |  |  |  |
Ultragaz |  |  | 35,567 |  |  |  | 255,935 |  |  |  | 267,272 |
Ipiranga |  |  | 1,396,574 |  |  |  | 2,357,125 |  |  |  | 2,364,014 |
Oxiteno |  |  | 457,128 |  |  |  | 141,350 |  |  |  | 311,525 |
Ultracargo |  |  | 124,720 |  |  |  | 75,042 |  |  |  | 127,739 |
Extrafarma |  |  | (118,329 | ) |  |  | (37,721 | ) |  |  | (3,848 | )
|  |  | 1,895,660 |  |  |  | 2,791,731 |  |  |  | 3,066,702 |
Others (1) |  |  | 3,694 |  |  |  | 1,011 |  |  |  | 3,172 |
Total |  |  | 1,899,354 |  |  |  | 2,792,742 |  |  |  | 3,069,874 |
Share of profit (loss) of joint-ventures and associates: |  |  |  |  |  |  |  |  |  |  |  |
Ultragaz |  |  | 12 |  |  |  | 1,245 |  |  |  | (39 | )
Ipiranga |  |  | (18,169 | ) |  |  | (19,777 | ) |  |  | (23,178 | )
Oxiteno |  |  | 880 |  |  |  | 1,417 |  |  |  | 975 |
Ultracargo |  |  | 1,350 |  |  |  | 1,578 |  |  |  | (27 | )
|  |  | (15,927 | ) |  |  | (15,537 | ) |  |  | (22,269 | )
Others (1) |  |  | 1,148 |  |  |  | 36,210 |  |  |  | 29,745 |
Total |  |  | (14,779 | ) |  |  | 20,673 |  |  |  | 7,476 |
Income before financial result, income and social contribution taxes |  |  | 1,884,575 |  |  |  | 2,813,415 |  |  |  | 3,077,350 |
Financial result, net |  |  | (113,536 | ) |  |  | (474,296 | ) |  |  | (842,576 | )
Income before income and social contribution taxes |  |  | 1,771,039 |  |  |  | 2,339,119 |  |  |  | 2,234,774 |
Additions to property, plant, and equipment and intangible assets (excluding intersegment account balances): |  |  |  |  |  |  |  |  |  |  |  |
Ultragaz |  |  | 245,069 |  |  |  | 244,187 |  |  |  | 248,627 |
Ipiranga |  |  | 417,519 |  |  |  | 536,936 |  |  |  | 387,138 |
Oxiteno |  |  | 473,026 |  |  |  | 466,967 |  |  |  | 291,294 |
Ultracargo |  |  | 167,034 |  |  |  | 105,028 |  |  |  | 81,166 |
Extrafarma |  |  | 118,577 |  |  |  | 171,183 |  |  |  | 140,454 |
|  |  | 1,421,225 |  |  |  | 1,524,301 |  |  |  | 1,148,679 |
Others (1) |  |  | 18,382 |  |  |  | 22,626 |  |  |  | 17,365 |
Total additions to property, plant, and equipment and intangible assets (see Notes 13 and 14) |  |  | 1,439,607 |  |  |  | 1,546,927 |  |  |  | 1,166,044 |
Asset retirement obligation – fuel tanks (see Note 20) |  |  | (264 | ) |  |  | (537 | ) |  |  | (483 | )
Capitalized borrowing costs |  |  | (23,438 | ) |  |  | (22,243 | ) |  |  | (23,980 | )
Total investments in property, plant, and equipment and intangible assets (cash flow) |  |  | 1,415,905 |  |  |  | 1,524,147 |  |  |  | 1,141,581 |
Payments of contractual assets with customers – exclusive rights (see Note 11): |  |  |  |  |  |  |  |  |  |  |  |
Ipiranga |  |  | 390,177 |  |  |  | 529,732 |  |  |  | 514,291 |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  |  |  |  | Restated (i) |  |  | Restated (i) |
Depreciation and amortization charges: |  |  |  |  |  |  |  |  |  |  |  |
Ultragaz |  |  | 222,527 |  |  |  | 182,833 |  |  |  | 158,193 |
Ipiranga |  |  | 283,426 |  |  |  | 245,424 |  |  |  | 220,282 |
Oxiteno |  |  | 167,357 |  |  |  | 153,110 |  |  |  | 149,716 |
Ultracargo |  |  | 52,414 |  |  |  | 47,669 |  |  |  | 43,356 |
Extrafarma |  |  | 71,552 |  |  |  | 60,856 |  |  |  | 42,666 |
|  |  | 797,276 |  |  |  | 689,892 |  |  |  | 614,213 |
Others (1) |  |  | 15,213 |  |  |  | 14,652 |  |  |  | 13,943 |
Total |  |  | 812,489 |  |  |  | 704,544 |  |  |  | 628,156 |
Amortization of contractual assets with customers – exclusive rights (see Note 11): |  |  |  |  |  |  |  |  |  |  |  |
Ipiranga |  |  | 371,825 |  |  |  | 463,049 |  |  |  | 463,490 |
|  | 12/31/2018 |  |  | 12/31/2017 |
|  |  |  |  | Restated (i) |
Total assets (excluding intersegment account balances): |  |  |  |  |  |  |  |
Ultragaz |  |  | 2,719,425 |  |  |  | 2,408,600 |
Ipiranga |  |  | 15,381,887 |  |  |  | 15,388,646 |
Oxiteno |  |  | 7,452,331 |  |  |  | 6,557,456 |
Ultracargo |  |  | 1,478,697 |  |  |  | 1,394,083 |
Extrafarma |  |  | 2,107,901 |  |  |  | 1,948,808 |
|  |  | 29,140,241 |  |  |  | 27,697,593 |
Others (1) |  |  | 1,359,154 |  |  |  | 586,753 |
Total |  |  | 30,499,395 |  |  |  | 28,284,346 |
(1) | Composed of the parent company Ultrapar (including goodwill of certain acquisitions) and subsidiaries Serma—Associação dos Usuários de Equipamentos de Processamento de Dados e Serviços Correlatos (“Serma”) and Imaven Imóveis Ltda.
(i) | See Note 2.x.
b. Geographic Area Information The fixed and intangible assets of the Company and its subsidiaries are located in Brazil, except those related to Oxiteno’ plants abroad, as shown below:
|  | 12/31/2018 |  |  | 12/31/2017 |
United States of America (*) |  |  | 857,049 |  |  |  | 511,912 |
Mexico |  |  | 124,037 |  |  |  | 109,034 |
Uruguay |  |  | 72,345 |  |  |  | 65,876 |
Venezuela (**) |  |  | 2,427 |  |  |  | 22,480 |
|  | 1,055,858 |  |  | 709,302 |
(*) | The increase refers to the construction of a new plant in Pasadena, Texas.
(**) | The reduction refers to the effects of the adoption of the Bolivar Soberano (See Note 2.s.1.ii).
The subsidiaries generate revenue from operations in Brazil, United Stated of America, Mexico, Uruguay and Venezuela, as well as from exports of products to foreign customers, as disclosed below:
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  |  |  |  | Restated (i) |  |  | Restated (i) |
Net revenue: |  |  |  |  |  |  |  |  |  |  |  |
Brazil |  |  | 89,183,342 |  |  |  | 77,986,363 |  |  |  | 75,670,139 |
Mexico |  |  | 207,615 |  |  |  | 190,205 |  |  |  | 183,124 |
Uruguay |  |  | 48,096 |  |  |  | 33,873 |  |  |  | 33,782 |
Venezuela |  |  | 68,877 |  |  |  | 54,788 |  |  |  | 25,393 |
Other Latin American countries |  |  | 425,973 |  |  |  | 427,875 |  |  |  | 448,814 |
United States of America and Canada |  |  | 465,840 |  |  |  | 292,709 |  |  |  | 158,280 |
Far East |  |  | 96,394 |  |  |  | 72,469 |  |  |  | 57,662 |
Europe |  |  | 138,347 |  |  |  | 119,097 |  |  |  | 97,261 |
Others |  |  | 63,499 |  |  |  | 52,635 |  |  |  | 65,578 |
Total |  |  | 90,697,983 |  |  |  | 79,230,014 |  |  |  | 76,740,033 |
(i) | See Note 2.x.
Sales to the foreign market are made substantially by the Oxiteno segment.

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