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v3.24.1.u1

Right-of-use assets and leases payable | 12 Months Ended
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Dec. 31, 2023
Right-of-use assets and leases payable |
Right-of-use assets and leases payable | 12 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. a. Right-of-use assets
| Weighted average useful life (years) | Balance as of 12/31/2022 |  |  | Additions and remeasurement (i) |  |  | Write-offs |  |  | Transfers (ii) |  |  | Amortization |  |  | Acquisition of subsidiary (iii) |  |  | Balance as of 12/31/2023 |
Cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate | 10 | 2,019,898 |  |  | 140,245 |  |  | (165,551 | ) |  | - |  |  | - |  |  | 4,274 |  |  | 1,998,866 |
Port areas | 29 | 311,174 |  |  | 3,790 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 314,964 |
Vehicles | 4 | 186,455 |  |  | 120,705 |  |  | (71,781 | ) |  | - |  |  | - |  |  | 35,009 |  |  | 270,388 |
Equipment | 5 | 26,345 |  |  | 12,910 |  |  | (1,973 | ) |  | - |  |  | - |  |  | 996 |  |  | 38,278 |
Others | 20 | 27,846 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 27,846 |
|  | 2,571,718 |  |  | 277,650 |  |  | (239,305 | ) |  | - |  |  | - |  |  | 40,279 |  |  | 2,650,342 |
Accumulated amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate |  | (634,688 | ) |  | - |  |  | 95,896 |  |  | (4,491 | ) |  | (209,522 | ) |  | (393 | ) |  | (753,198 | )
Port areas |  | (36,773 | ) |  | - |  |  | - |  |  | - |  |  | (7,847 | ) |  | - |  |  | (44,620 | )
Vehicles |  | (83,902 | ) |  | - |  |  | 63,708 |  |  | - |  |  | (80,661 | ) |  | (9,112 | ) |  | (109,967 | )
Equipment |  | (2,850 | ) |  | - |  |  | 1,974 |  |  | - |  |  | (4,151 | ) |  | (157 | ) |  | (5,184 | )
Others |  | (22,128 | ) |  | - |  |  | - |  |  | - |  |  | (3,719 | ) |  | - |  |  | (25,847 | )
|  | (780,341 | ) |  | - |  |  | 161,578 |  |  | (4,491 | ) |  | (305,900 | ) |  | (9,662 | ) |  | (938,816 | )
Net amount |  | 1,791,377 |  |  | 277,650 |  |  | (77,727 | ) |  | (4,491 | ) |  | (305,900 | ) |  | 30,617 |  |  | 1,711,526 |
(i) | Considers R$ 257,201 referring to additions and remeasurements between right-of-use assets and leases payable.
(ii) | Refers to the amortization of the right of use, which is being capitalized as Construction in progress until the beginning of its operation.
(iii) | For further information, see Note 28.
| Weighted average useful life (years) | Balance as of 12/31/2021 |  |  | Additions and remeasurement |  |  | Write-offs |  |  | Transfers |  |  | 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 |
| 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 |
b. Leases payable The changes in leases payable are shown below:
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 (see note 29) | (413,715 | )
Balance as of December 31, 2021 | 1,348,311 |
Interest accrued | 128,069 |
Payments of leases | (357,879 | )
Additions and remeasurement | 482,439 |
Write-offs | (77,171 | )
Balance as of December 31, 2022 | 1,523,769 |
Interest accrued | 143,005 |
Payments of leases | (213,527 | )
Interest payment | (145,586 | )
Additions and remeasurement | 257,201 |
Write-offs | (71,569 | )
Acquisition of subsidiary (see notes 28.b and 28.d) | 30,641 |
Balance as of December 31, 2023 | 1,523,934 |
Current | 311,426 |
Non-current | 1,212,508 |
The undiscounted future cash outflows are presented below:
| 12/31/2023 |  |  | 12/31/2022 |
Up to 1 year | 418,450 |  |  | 343,792 |
1 to 2 years | 322,165 |  |  | 319,284 |
2 to 3 years | 227,785 |  |  | 277,318 |
3 to 4 years | 189,744 |  |  | 201,227 |
4 to 5 years | 147,977 |  |  | 173,229 |
More than 5 years | 1,003,655 |  |  | 1,089,255 |
Total | 2,309,776 |  |  | 2,404,105 |
The contracts related to the leases 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 dates of the contracts | Rate (% p.a.) |
From 1 to 5 years | 9.40% |
From 6 to 10 years | 9.87% |
From 11 to 15 years | 10.28% |
More than 15 years | 10.42% |
c. Lease contracts of leases of low-value assets and short-term leases The Company and its subsidiaries, especially Cia. Ultragaz, Bahiana and IPP 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 |
12/31/2023 | 7,693 |  |  | 1,872 |  |  | - |  |  | 9,565 |
The amount of lease considered as of low value, short term and variable payments, recognized as an expense for the year ended December 31, 2023 was R$ 7,794 (R$ 18,466 for the year ended December 31, 2022 and R$ 13,524 for the year ended December 31, 2021).

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