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Employee Benefits and Private Pension Plan (Tables)
 12 Months Ended
Dec. 31, 2019
Text block [abstract]  
Post-employment benefits
The amounts related to such benefits were determined based on a valuation conducted by an independent actuary and reviewed by management as of December 31, 2019.
 
   
12/31/2019
   
12/31/2018
 
Health and dental care plan
(1)
   154,142    112,628 
Indemnification of FGTS
   66,309    83,781 
Seniority bonus
   34,485    37,397 
Life insurance
(1)
   17,931    16,009 
  
 
 
   
 
 
 
Total
   272,867    249,815 
  
 
 
   
 
 
 
Current
   28,951    45,655 
Non-current
   243,916    204,160 
 
(1)
Only IPP and Iconic Lubrificantes S.A. (“Iconic”).
Changes in provision for post-employment benefits
The change in the present value of the post-employment benefit obligation is as follows:
 
   
12/31/2019
   
12/31/2018
 
Opening balance
   249,815    237,523 
Current service cost
   (10,704)    6,092 
Interest cost
   21,386    21,466 
  
 
 
   
 
 
 
Expense for the year
   10,682    27,558 
Losses from changes in actuarial assumptions
   44,489    7,934 
Benefits paid directly by Company and its subsidiaries
   (33,510)    (23,604) 
Exchange rates from post
-
employment benefits
   1,391    404 
  
 
 
   
 
 
 
Ending balance
   272,867    249,815 
  
 
 
   
 
 
 
Post-employment benefit expense
The total of expense in each period is presented below:
 
   
2019
   
2018
   
2017
 
Health and dental care plan
   10,442    9,559    164 
Indemnification of FGTS
   (5,818)    11,159    14,828 
Seniority bonus
   4,765    5,460    6,883 
Life insurance
   1,293    1,380    1,543 
  
 
 
   
 
 
   
 
 
 
Total
   10,682    27,558    23,418 
  
 
 
   
 
 
   
 
 
 
Significant actuarial assumptions adopted
Economic factors
  
12/31/2019
   
12/31/2018
 
   
%
p
.a.
   
%
p
.a.
 
Discount rate for the actuarial obligation at present value
   8.79    9.00 
Average projected salary growth rate
   7.64    7.85 
Inflation rate (long term)
   3.80    4.00 
Growth rate of medical services
   7.95    8.16 
Sensitivity analysis
12/31/2019
 
Assumption
  
Change in
assumptions
   
Decrease in
liability
   
Change in
assumptions
   
Increase in
liability
 
Discount rate
   increase by 1.0 p.p    26,741    decrease by 1.0 p.p    49,344 
Wage growth rate
   decrease by 1.0 p.p    34,978    increase by 1.0 p.p    39,030 
Medical services growth rate
   decrease by 1.0 p.p    7,137    increase by 1.0 p.p    8,492