Cash and Cash Equivalents and Financial Investments

12 Months Ended

Dec. 31, 2019

Cash and Cash Equivalents and Financial Investments

4. Cash and Cash Equivalents and Financial Investments

Cash equivalents and financial investments, excluding cash and bank deposits, are substantially represented by investments: (i) in Brazil, in certificates of deposit of financial institutions linked to interest rate of the Interbank Deposits (“DI”), in repurchase agreement, financial bills, and in short term investments funds, whose portfolio comprised of Brazilian Federal Government bonds and in certificates of deposit of financial institutions; (ii) outside Brazil, in certificates of deposit of financial institutions and in short term investments funds, whose portfolio comprised of Federal Government bonds; and (iii) in currency and interest rate hedging instruments.

The financial assets were classified in Note 34.j, based on business model of financial assets of the Company and its subsidiaries.

Cash, cash equivalents and financial investments amounted to R$ 5,712,097 as of December 31, 2019 (R$ 6,994,406 as of December 31, 2018) are as follows:

a. Cash and Cash Equivalents

Cash and cash equivalents of the Company and its subsidiaries are presented as follows:


	12/31/2019		12/31/2018

Cash and bank deposits
In local currency		182,237		117,231
In foreign currency		102,755		88,251

Financial investments considered cash equivalents
In local currency
Fixed-income securities		1,780,939		3,722,308
In foreign currency
Fixed-income securities		49,448		11,161

Total cash and cash equivalents		2,115,379		3,938,951

b. Financial Investments and Currency and Interest Rate Hedging Instruments

The financial investments, which are not classified as cash and cash equivalents, are presented as follows:


	12/31/2019		12/31/2018

Financial investments
In local currency
Fixed-income securities and funds		2,610,686		2,537,315

In foreign currency
Fixed-income securities and funds		303,417		154,811

Currency and interest rate hedging instruments (a)		682,615		363,329


Total financial investments		3,596,718		3,055,455


Current		3,090,212		2,853,106
Non-current		506,506		202,349

(a)	Accumulated gains, net of income tax (see Note 34.i).