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12. FINANCIAL INSTRUMENTS (Details 15) - BRL (R$) R$ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Perpetual bonds
Disclosure of financial liabilities [line items]
Carrying amount	R$ 3,312,503	R$ 3,263,536
Fair value	2,602,090	1,702,134
Fixed rate notes
Disclosure of financial liabilities [line items]
Carrying amount	5,751,526	5,666,506
Fair value	R$ 6,207,946	R$ 4,907,339

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- Definition

The fair value of financial liabilities. [Refer: At fair value [member]; Financial liabilities]

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-IssueDate 2017-01-01
-Paragraph 25
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