Employee Benefits and Private Pension Plan (Tables)

12 Months Ended

Dec. 31, 2022

The amounts related to such benefits are based on a valuation conducted by an independent actuary and reviewed by Management as of December 31, 2022.

(1) Applicable to IPP, Tropical and Iconic.

Changes in the present value of the post-employment benefit obligation occurred as follows:

	12/31/2022		12/31/2021
Opening balance	215,719		284,724
Expense for the year of continuing operations	20,944		15,585
Expense (revenue) for the year of discontinued operations	494		2,951
Actuarial (gains) losses from changes in actuarial assumptions	(2,589	)	(58,954	)
Benefits paid directly by the Company and its subsidiaries	(19,012	)	(18,400	)
Exchange rates from post-employment benefits of foreign subsidiaries	-		217
Reclassification to liabilities held for sale (i)	-		(10,404	)
Closing balance	215,556		215,719

The total expense for each year is presented below:

The main actuarial assumptions used are:

Economic factors	12/31/2022	12/31/2021
	% p.a.	% p.a.
Discount rate for the actuarial obligation at present value	9.97	8.93
Average projected salary growth rate	6.98	7.07
Inflation rate (long term)	3.50	3.25
Growth rate of medical services	7.64	7.38

Assumption	Change in assumptions	Decrease in liability	Change in assumptions	Increase in liability
Discount rate	increase by 1.0 p.p.	19,688	decrease by 1.0 p.p.	24,252
Wage growth rate	decrease by 1.0 p.p.	266	increase by 1.0 p.p.	477
Medical services growth rate	decrease by 1.0 p.p.	17,824	increase by 1.0 p.p.	21,847