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Trade Payables (Tables)
12 Months Ended
Dec. 31, 2020
Text block [abstract]  
Summary of Trade Payables

12/31/2020

 

12/31/2019

Domestic suppliers

2,306,398

 

1,800,348

Domestic suppliers – related parties (see Note 8.a)

5,102

 

96,908

Domestic suppliers – reverse factoring (i)

1,021,424

 

262,870

Domestic suppliers – reverse factoring (i) - related parties (see Note 8.a)

61,989

 

193,080

Foreign suppliers

307,486

 

237,618

Foreign suppliers - related parties (see Note 8.a)

126,033

 

23,604

Foreign suppliers – reverse factoring (i)

212,220

 

85,643

 

4,040,652

 

2,700,071

 

(i) Suppliersreverse factoring: some subsidiaries of the Company entered into an agreements with a financial institutions. These agreements consist in the anticipation of the receipt of trade payables by the supplier, in which the financial institutions prepay a certain amount from the supplier, and receives on the maturity date the amount payable by the subsidiaries of the Company. The decision to join this type of transaction is solely and exclusively of the supplier. The agreement does not substantially change the main characteristics of the commercial conditions previously established between the subsidiaries of the Company and the suppliers. These transactions are presented in operating activities in the statements of cash flow.

 

Some Company’s subsidiaries acquire oil-based fuels and LPG from Petrobras and its subsidiaries and ethylene from Braskem S.A. These suppliers control almost all the markets for these products in Brazil.