Inventories (Tables)

12 Months Ended

Dec. 31, 2021

The composition of inventories is as follows:

	12/31/2021				12/31/2020
	Cost	Provision for losses		Net balance	Cost	Provision for losses		Net balance
Fuels, lubricants and greases	3,042,932	(4,871	)	3,038,061	1,682,841	(5,344	)	1,677,497
Finished goods	-	-		-	646,180	(22,281	)	623,899
Work in process	-	-		-	1,450	-		1,450
Raw materials	293,242	-		293,242	568,185	(1,827	)	566,358
Liquefied petroleum gas (LPG)	151,831	(5,761	)	146,070	110,767	(5,761	)	105,006
Consumable materials and other items for resale	117,150	(1,875	)	115,275	129,559	(2,598	)	126,961
Pharmaceutical, hygiene, and beauty products	-	-		-	521,689	(2,611	)	519,078
Purchase for future delivery ⁽¹⁾	302,456	(464	)	301,992	198,986	(464	)	198,522
Properties for resale	24,239	(107	)	24,132	27,532	(107	)	27,425
	3,931,850	(13,078	)	3,918,772	3,887,189	(40,993	)	3,846,196

⁽¹⁾ Refers substantially to ethanol, biodiesel and advances for fuel acquisition.

Movements in the provision for losses are as follows:

Balance as of December 31, 2018	42,587
Reversals to net realizable value adjustment	(5,174	)
Additions of obsolescence and other losses	4,296
Oxiteno Andina (i)	(985	)
Balance as of December 31, 2019	40,724
Additions to net realizable value adjustment	2,245
Reversals of obsolescence and other losses	(1,976	)
Balance as of December 31, 2020	40,993
Additions to net realizable value adjustment	5,974
Reversals of obsolescence and other losses	(5,184	)
Reclassification to assets held for sale	(28,705	)
Balance as of December 31, 2021	13,078

⁽ⁱⁱ⁾ Refers to the asset write-offs of Oxiteno Andina in 2019.

The breakdown of provisions for losses related to inventories is shown in the table below:

	12/31/2021	12/31/2020
Net realizable value adjustment	8,269	17,488
Obsolescence and other losses	4,809	23,505
Total	13,078	40,993