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v3.23.1

Right-of-use assets and leases payable | 12 Months Ended
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Dec. 31, 2022
Right-of-use assets and leases payable |
Right-of-use assets and leases payable | 14 Right-of-use assets and leases payable The Company and certain subsidiaries have real estate leases, substantially related to: (i) Ipiranga: fuel stations and distribution bases; (ii) Ultragaz: points of sale and bottling bases; (iii) Ultracargo: port areas and (iv) Company: offices. The Company and certain subsidiaries also have lease agreements relating to vehicles, equipment and others. a. Right-of-use assets
| Weighted average useful life (years) | Balance as of 12/31/2021 |  |  | Additions and remeasurement |  |  | Write-offs |  |  | Transfers (i) |  |  | Amortization |  |  | Balance as of 12/31/2022 |
Cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate | 10 | 1,793,473 |  |  | 366,805 |  |  | (140,380) |  |  | - |  |  | - |  |  | 2,019,898 |
Port areas | 29 | 299,630 |  |  | 11,868 |  |  | (324 | ) |  | - |  |  | - |  |  | 311,174 |
Vehicles | 4 | 146,173 |  |  | 115,666 |  |  | (75,384 | ) |  | - |  |  | - |  |  | 186,455 |
Equipment | 5 | 16,740 |  |  | 9,958 |  |  | (353 | ) |  | - |  |  | - |  |  | 26,345 |
Others | 20 | 27,846 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 27,846 |
|  | 2,283,862 |  |  | 504,297 |  |  | (216,441 | ) |  | - |  |  | - |  |  | 2,571,718 |
Accumulated amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate |  | (489,470 | ) |  | - |  |  | 79,003 |  |  | (5,311 | ) |  | (218,910 | ) |  | (634,688 | )
Port areas |  | (23,526 | ) |  | - |  |  | - |  |  | - |  |  | (13,247 | ) |  | (36,773 | )
Vehicles |  | (98,867 | ) |  | - |  |  | 66,554 |  |  | - |  |  | (51,589 | ) |  | (83,902 | )
Equipment |  | (1,834 | ) |  | - |  |  | 399 |  |  | - |  |  | (1,415 | ) |  | (2,850 | )
Others |  | (18,870 | ) |  | - |  |  | - |  |  | - |  |  | (3,258 | ) |  | (22,128 | )
|  | (632,567 | ) |  | - |  |  | 145,956 |  |  | (5,311 | ) |  | (288,419 | ) |  | (780,341 | )
Net amount |  | 1,651,295 |  |  | 504,297 |  |  | (70,485 | ) |  | (5,311 | ) |  | (288,419 | ) |  | 1,791,377 |
(i) Refers to R$ 5,311 transferred to property, plant and equipment.
| Weighted average useful life (years) | Balance as of 12/31/2020 |  |  | Additions and remeasurement |  |  | Write-offs |  |  | Transfers (i) |  |  | Exchange rate variation |  |  | Amortization |  |  | Reclassification to assets held for sale (ii) |  |  | Balance as of 12/31/2021 |
Cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate | 10 | 2,254,432 |  |  | 257,787 |  |  | (150,718 | ) |  | - |  |  | 1,295 |  |  | - |  |  | (569,323 | ) |  | 1,793,473 |
Port areas | 20 | 268,534 |  |  | 31,096(*) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 299,630 |
Vehicles | 4 | 139,843 |  |  | 26,589 |  |  | (9,315 | ) |  | - |  |  | 103 |  |  | - |  |  | (11,047 | ) |  | 146,173 |
Equipment | 6 | 44,936 |  |  | 19,887 |  |  | (6,171 | ) |  | - |  |  | 1,920 |  |  | - |  |  | (43,832 | ) |  | 16,740 |
Others | 20 | 27,846 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 27,846 |
|  | 2,735,591 |  |  | 335,359 |  |  | (166,204 | ) |  | - |  |  | 3,318 |  |  | - |  |  | (624,202 | ) |  | 2,283,862 |
Accumulated amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate |  | (481,975 | ) |  | - |  |  | 76,954 |  |  | - |  |  | (530 | ) |  | (283,882 | ) |  | 199,963 |  |  | (489,470 | )
Port areas |  | (3,962 | ) |  | - |  |  | - |  |  | (11,935 | ) |  | - |  |  | (7,629 | ) |  | - |  |  | (23,526 | )
Vehicles |  | (63,091 | ) |  | - |  |  | 7,032 |  |  | - |  |  | (54 | ) |  | (48,146 | ) |  | 5,392 |  |  | (98,867 | )
Equipment |  | (19,619 | ) |  | - |  |  | 6,483 |  |  | - |  |  | (897 | ) |  | (17,637 | ) |  | 29,836 |  |  | (1,834 | )
Others |  | (16,658 | ) |  | - |  |  | - |  |  | - |  |  | - |  |  | (2,212 | ) |  | - |  |  | (18,870 | )
|  | (585,305 | ) |  | - |  |  | 90,469 |  |  | (11,935 | ) |  | (1,481 | ) |  | (359,506 | ) |  | 235,191 |  |  | (632,567 | )
Provision for impairment losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate |  | - |  |  | (38,957 | ) |  | - |  |  | - |  |  | - |  |  | - |  |  | 38,957 |  |  | - |
|  | - |  |  | (38,957 | ) |  | - |  |  | - |  |  | - |  |  | - |  |  | 38,957 |  |  | - |
Net amount |  | 2,150,286 |  |  | 296,402 |  |  | (75,735 | ) |  | (11,935 | ) |  | 1,837 |  |  | (359,506 | ) |  | (350,054 | ) |  | 1,651,295 |
(i) Refers to the amortization of right-of-use assets in the subsidiary Tequimar Vila do Conde Logística Portuária S.A. (“Tequimar Vila do Conde”), which is being capitalized as Construction in progress, starting its operation in December 2021. (ii) For further details, see Note 4.c.2 (*) Includes balances of R$ 14,905 referring to initial direct costs of right-of-use assets.
| Weighted average useful life (years) | Balance on 12/31/2019 |  |  | Additions and remeasurement |  |  | Write-offs |  |  | Effect of foreign currency exchange rate variation |  |  | Amortization |  |  | Balance on 12/31/2020 |
Cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate | 10 | 2,068,254 |  |  | 259,244 |  |  | -78,529 |  |  | 5,463 |  |  | - |  |  | 2,254,432 |
Port area | 20 | 68,007 |  |  | 200,527 |  |  | ‐ |  |  | ‐ |  |  | - |  |  | 268,534 |
Vehicles | 4 | 91,868 |  |  | 55,616 |  |  | -7,893 |  |  | 252 |  |  | - |  |  | 139,843 |
Equipment | 6 | 31,822 |  |  | 7,833 |  |  | -572 |  |  | 5,853 |  |  | - |  |  | 44,936 |
Others | 20 | 27,846 |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | - |  |  | 27,846 |
|  | 2,287,797 |  |  | 523,22 |  |  | -86,994 |  |  | 11,568 |  |  | - |  |  | 2,735,591 |
Accumulated amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate |  | -256,43 |  |  | - |  |  | 46,282 |  |  | -697 |  |  | -271,13 |  |  | -481,975 |
Port area |  | ‐ |  |  | - |  |  | ‐ |  |  | ‐ |  |  | -3,962 |  |  | -3,962 |
Vehicles |  | -27,492 |  |  | - |  |  | 5,509 |  |  | 232 |  |  | -41,34 |  |  | -63,091 |
Equipment |  | -7,6 |  |  | - |  |  | 572 |  |  | -1,996 |  |  | -10,595 |  |  | -19,619 |
Others |  | -15,363 |  |  | - |  |  | ‐ |  |  | ‐ |  |  | -1,295 |  |  | -16,658 |
|  | -306,885 |  |  | - |  |  | 52,363 |  |  | -2,461 |  |  | -328,322 |  |  | -585,305 |
Net amount |  | 1,980,912 |  |  | 523,22 |  |  | -34,631 |  |  | 9,107 |  |  | -328,322 |  |  | 2,150,286 |
b. Leases payable The changes in leases payable are shown below:
Balance as of December 31, 2019 | 1,588,673 |
Interest accrued | 144,655 |
Payments | (360,787 | )
Additions and remeasurement | 484,121 |
Write-offs | (35,381 | )
Effect of foreign currency exchange rate variation | 12,007 |
Balance as of December 31, 2020 | 1,833,288 |
Interest accrued | 147,494 |
Payments (i) | (440,574 | )
Additions and remeasurement | 288,711 |
Write-offs | (83,157 | )
Efffect of foreign currency exchange rate variation | 16,264 |
Reclassification to liabilities held for sale (ii) | (413,715 | )
Balance as of December 31, 2021 | 1,348,311 |
Interest accrued | 128,069 |
Payments | (357,879 | )
Additions and remeasurement | 482,439 |
Write-offs | (77,171 | )
Balance as of December 31, 2022 | 1,523,769 |
Current | 225,034 |
Non-current | 1,298,735 |
(i) Includes the amount of R$ 29,237 paid by subsidiary Tequimar Vila do Conde related to port concession grants. (ii) For further details, see Note 4.c.2 The future disbursements (installments) not discounted to present value are presented below:
| 12/31/2022 |
Up to 1 year | 343,792 |
1 to 2 years | 319,284 |
2 to 3 years | 277,318 |
3 to 4 years | 201,227 |
4 to 5 years | 173,229 |
More than 5 years | 1,089,255 |
Total | 2,404,105 |
The contracts related to the leases payable are substantially indexed by the IGP-M (General Market Price Index is a measure of Brazilian inflation, calculated by the Getúlio Vargas Foundation). b.1. Discount rates The weighted nominal average discount rates for the lease contracts of the Company are:
Contracts by maturity date and discount rate |
Maturity date of the contracts | Discount rate (% p.a.) |
From 1 to 5 years | 8.00% |
From 6 to 10 years | 8.34% |
From 11 to 15 years | 9.50% |
More than 15 years | 9.75% |
c. Lease contracts of low-value assets Subsidiaries Cia. Ultragaz, Bahiana, IPP and Serma have operating lease contracts considered as being of low value, short term and variable payments for the use of IT equipment, vehicles and real estates. The future disbursements (payments), assumed as a result of these contracts amount approximately to:
| Up to 1 year |  |  | Between 1 and 5 years |  |  | More than 5 years |  |  | Total |
12/31/2022 | 2,458 |  |  | 5,689 |  |  | - |  |  | 8,147 |
12/31/2021 | 124 |  |  | 994 |  |  | - |  |  | 1,118 |
The amount of leases considered as of low value, short term and variable payments, recognized as an expense for the year ended December 31, 2022 was R$ 18,466 (R$ 13,524 for the year ended December 31, 2021 and R$ 13,965 for the year ended December 31, 2020).

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