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Trade receivables, reseller financing and other receivables | 12 Months Ended
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Dec. 31, 2024
Trade receivables, reseller financing and other receivables |
Trade receivables, reseller financing and other receivables | 5. Trade receivables, reseller financing and other receivables Accounting policy Trade receivables represent amounts receivable for the sale of products and services provided by the Company's subsidiaries and are recorded at the nominal value invoiced on the date of sale. Reseller financing is provided to promote the renovation and upgrading of service stations, purchase of products, and development of the automotive fuels and lubricants distribution market. The amounts are financed with an average payment term of 12 to 60 months, subject to interest and monetary variation. Remeasurement is carried out at a market rate for working capital loans and is recognized in the financial result. Expected credit losses are measured in accordance with the IFRS 9 simplified approach, using a provision matrix based on expected losses for the full balance of trade receivables. The loss allowance for expected credit losses considers the expected losses for the next 12 months, which includes the deterioration or improvement of the customers’ credit quality, considering the customers’ characteristics in each business segment. The expected credit losses are calculated by the expected loss approach, considering the probability of default. Loss rates are determined by the average of advances of receivables through stages of default until full write-off. This calculation includes the credit risk score for each exposure, based on predictive data and credit assessment experience. The amount of the expected credit losses is deemed by Management to be sufficient to cover any loss on realization of trade receivables. a. Trade receivables and reseller financing
Trade receivables of customers | 12/31/2024 |  |  | 12/31/2023 |
Domestic customers | 3,885,310 |  |  | 4,183,696 |
Domestic customers - related parties (see Note 8) | 301 |  |  | 78 |
Foreign customers | 19,032 |  |  | 82,634 |
Foreign customers - related parties (see Note 8) | 8,361 |  |  | 3,065 |
| 3,913,004 |  |  | 4,269,473 |
(-) Allowance for expected credit losses | (345,735 | ) |  | (334,467 | )
Total - trade receivables of customers | 3,567,269 |  |  | 3,935,006 |
Current | 3,540,266 |  |  | 3,921,790 |
Non-current | 27,003 |  |  | 13,216 |
Reseller financing | 12/31/2024 |  |  | 12/31/2023 |
Reseller financing – Ipiranga | 1,404,883 |  |  | 1,189,886 |
(-) Allowance for expected credit losses | (126,859 | ) |  | (134,383 | )
Total – reseller financing | 1,278,024 |  |  | 1,055,503 |
Current | 511,979 |  |  | 504,862 |
Non-current | 766,045 |  |  | 550,641 |
b. Allowance for expected credit losses – trade receivables and reseller financing Movements in the allowance for expected credit losses of trade receivables and reseller financing are as follows:
| Trade receivables |  |  | Reseller financing |  |  | Total |
Balance as of December 31, 2021 | 374,355 |  |  | 185,278 |  |  | 559,633 |
Additions | 143,828 |  |  | 45,987 |  |  | 189,815 |
Reversals | (130,385 | ) |  | (52,695 | ) |  | (183,080 | )
Write-offs | (65,045 | ) |  | (5,283 | ) |  | (70,328 | )
Balance as of December 31, 2022 | 322,753 |  |  | 173,287 |  |  | 496,040 |
Additions | 115,090 |  |  | 28,472 |  |  | 143,562 |
Reversals | (76,762 | ) |  | (59,436 | ) |  | (136,198 | )
Write-offs | (26,614 | ) |  | (7,940 | ) |  | (34,554 | )
Balance as of December 31, 2023 | 334,467 |  |  | 134,383 |  |  | 468,850 |
Additions | 114,691 |  |  | 31,931 |  |  | 146,622 |
Reversals | (85,549 | ) |  | (37,126 | ) |  | (122,675 | )
Write-offs | (17,874 | ) |  | (2,329 | ) |  | (20,203 | )
Balance as of December 31, 2024 | 345,735 |  |  | 126,859 |  |  | 472,594 |
The table below presents information on credit risk exposure, resulting from balances of trade receivables and reseller financing.
| 12/31/2024 |  |  | 12/31/2023 |
| Weighted average rate of expected losses |  |  | Gross accounting balance |  |  | Allowance for expected credit losses |  |  | Weighted average rate of expected losses |  |  | Gross accounting balance |  |  | Allowance for expected credit losses |
Current | 0.55% |  |  | 4,289,620 |  |  | 23,517 |  |  | 0.55% |  |  | 4,412,278 |  |  | 24,131 |
Less than 30 days | 3.14% |  |  | 141,756 |  |  | 4,452 |  |  | 7.62% |  |  | 61,451 |  |  | 4,683 |
31-60 days | 20.26% |  |  | 40,402 |  |  | 8,186 |  |  | 4.92% |  |  | 57,753 |  |  | 2,841 |
61-90 days | 14.96% |  |  | 27,360 |  |  | 4,093 |  |  | 15.29% |  |  | 23,845 |  |  | 3,646 |
91-180 days | 30.37% |  |  | 57,289 |  |  | 17,396 |  |  | 32.91% |  |  | 47,430 |  |  | 15,609 |
More than 180 days | 54.49% |  |  | 761,460 |  |  | 414,950 |  |  | 48.79% |  |  | 856,602 |  |  | 417,940 |
|  |  |  | 5,317,887 |  |  | 472,594 |  |  |  |  |  | 5,459,359 |  |  | 468,850 |
c. Trade receivables - sale of subsidiaries
| 12/31/2024 |  |  | 12/31/2023 |
Sale of subsidiary Oxiteno: |  |  |  |  |
Receivables from sale of investments (i) | ‐ |  |  | 726,195 |
(-) Adjustment to present value - sale of investments (ii) | ‐ |  |  | (10,318 | )
Sale of subsidiary Extrafarma: |  |  |  |  |
Receivables from sale of investments (iii) | ‐ |  |  | 208,487 |
Total - current | ‐ |  |  | 924,364 |
(i) The balance related to the final installment of the sale of Oxiteno was received in April 2024. (ii) The consideration for the sale of Oxiteno was recognized at present value using a discount rate of 6.17%, and fully paid up in April 2024. (iii) Balance related to the second installment of the Extrafarma sale transaction, received in August 2024, monetarily adjusted by the CDI rate + 0.5% p.a.

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