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FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2022
Financial Instruments |
Schedule of financial instruments |
Schedule of financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Consolidated
Consolidated |  |  |  |  |  | 12/31/2022 |  |  |  | 12/31/2021
| Notes |  | Fair value through profit or loss |  | Measured at amortized cost |  | Balances |  | Fair value through profit or loss |  | Measured at amortized cost |  | Balances
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 4 |  |  |  | 11,991,356 |  | 11,991,356 |  |  |  | 16,646,480 |  | 16,646,480
Short-term investments |  | 5 |  | 1,184,895 |  | 271,590 |  | 1,456,485 |  | 2,383,059 |  | 261,673 |  | 2,644,732
Trade receivables |  | 6 |  |  |  | 3,233,164 |  | 3,233,164 |  |  |  | 2,597,838 |  | 2,597,838
Dividends and interest on equity |  | 9 |  |  |  | 77,377 |  | 77,377 |  |  |  | 76,878 |  | 76,878
Trading securities |  | 9 |  | 9,596 |  |  |  | 9,596 |  | 12,028 |  |  |  | 12,028
Loans - related parties |  | 9 |  |  |  | 5,383 |  | 5,383 |  |  |  | 4,511 |  | 4,511
Total |  |  |  | 1,194,491 |  | 15,578,870 |  | 16,773,361 |  | 2,395,087 |  | 19,587,380 |  | 21,982,467
Non-current |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | 5 |  |  |  | 156,185 |  | 156,185 |  |  |  | 147,671 |  | 147,671
Other trade receivables |  | 9 |  |  |  | 8,059 |  | 8,059 |  |  |  | 2,345 |  | 2,345
Eletrobrás compulsory loan |  | 9 |  |  |  | 58,030 |  | 58,030 |  |  |  | 859,607 |  | 859,607
Receivables by indemnity |  | 9 |  |  |  | 974,863 |  | 974,863 |  |  |  | 534,896 |  | 534,896
Loans - related parties |  | 9 |  |  |  | 1,384,773 |  | 1,384,773 |  |  |  | 1,143,228 |  | 1,143,228
Investments |  | 10 |  | 94,700 |  |  |  | 94,700 |  | 190,321 |  |  |  | 190,321
Total |  |  |  | 94,700 |  | 2,581,910 |  | 2,676,610 |  | 190,321 |  | 2,687,747 |  | 2,878,068
Total Assets |  |  |  | 1,289,191 |  | 18,160,780 |  | 19,449,971 |  | 2,585,408 |  | 22,275,127 |  | 24,860,535
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and financing |  | 13 |  |  |  | 5,269,952 |  | 5,269,952 |  |  |  | 5,532,736 |  | 5,532,736
Leases |  | 15 |  |  |  | 177,010 |  | 177,010 |  |  |  | 119,047 |  | 119,047
Trade payables |  | 16 |  |  |  | 6,596,915 |  | 6,596,915 |  |  |  | 6,446,999 |  | 6,446,999
Trade payables - drawee risk |  | 17 |  |  |  | 5,709,069 |  | 5,709,069 |  |  |  | 4,439,967 |  | 4,439,967
Dividends and interest on capital |  | 17 |  |  |  | 611,307 |  | 611,307 |  |  |  | 1,206,870 |  | 1,206,870
Derivative financial instruments |  |  |  | 416,935 |  |  |  | 416,935 |  |  |  |  |  |
Total |  |  |  | 416,935 |  | 18,364,253 |  | 18,781,188 |  |  |  | 17,745,619 |  | 17,745,619
Non-current |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and financing |  | 13 |  |  |  | 36,170,996 |  | 36,170,996 |  |  |  | 27,221,914 |  | 27,221,914
Leases |  | 15 |  |  |  | 516,836 |  | 516,836 |  |  |  | 492,504 |  | 492,504
Trade payables |  | 16 |  |  |  | 46,269 |  | 46,269 |  |  |  | 98,625 |  | 98,625
Derivative financial instruments |  | 17 |  | 69,472 |  |  |  | 69,472 |  | 101,822 |  |  |  | 101,822
Total |  |  |  | 69,472 |  | 36,734,101 |  | 36,803,573 |  | 101,822 |  | 27,813,043 |  | 27,914,865
Total Liabilities |  |  |  | 486,407 |  | 55,098,354 |  | 55,584,761 |  | 101,822 |  | 45,558,662 |  | 45,660,484
Schedule of financial instruments at fair value through profit or loss |
Schedule of financial instruments at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  |  |  |  | 12/31/2022 |  |  |  |  |  | 12/31/2021
| Level 1 |  | Level 2 |  | Balances |  | Level 1 |  | Level 2 |  | Balances
Assets |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |
Financial investments |  | 1,184,895 |  |  |  | 1,184,895 |  | 2,383,059 |  |  |  | 2,383,059
Trading securities |  | 9,596 |  |  |  | 9,596 |  | 12,028 |  |  |  | 12,028
Non-current |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | 94,700 |  |  |  | 94,700 |  | 190,321 |  |  |  | 190,321
Total Assets |  | 1,289,191 |  |  |  | 1,289,191 |  | 2,585,408 |  |  |  | 2,585,408
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments |  |  |  | 416,935 |  | 416,935 |  |  |  |  |  |
Non-current |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments |  |  |  | 69,472 |  | 69,472 |  |  |  | 101,822 |  | 101,822
Total Liabilities |  |  |  | 486,407 |  | 486,407 |  |  |  | 101,822 |  | 101,822
Schedule of foreign exchange exposure |
Schedule of foreign exchange exposure |  |  |  |
|  |  |  | 12/31/2021
Foreign Exchange Exposure |  | (Amounts in US$’000) |  | (Amounts in US$’000)
Cash and cash equivalents overseas |  | 1,191,036 |  | 1,656,271
Trade receivables |  | 315,920 |  | 212,424
Financial investments |  | 26,930 |  | 23,748
Borrowings and financing |  | (4,594,471) |  | (3,866,290)
Trade payables |  | (366,149) |  | (613,961)
Others |  | (23,079) |  | (149,532)
Natural Gross Foreign Exchange Exposure (assets - liabilities) |  | (3,449,813) |  | (2,737,340)
Cash flow hedge accounting |  | 4,409,760 |  | 2,655,350
Exchange rate swap CDI x Dollar |  | (67,000) |  | (67,000)
Exchange rate swap Real x Dollar |  | (115,000) |  |
Net foreign exchange exposure |  | 777,947 |  | (148,990)
Schedule of scenarios |
Schedule of scenarios |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | 12/31/2022
Currency |  | Exchange rate |  | Probable scenario |  | Scenario 1 |  | Scenario 2
USD |  | 5.2177 |  | 5.2070 |  | 6.5221 |  | 7.8266
EUR |  | 5.5694 |  | 5.5580 |  | 6.9618 |  | 8.3541
USD x EUR |  | 1.0674 |  | 1.0674 |  | 1.3343 |  | 1.6011
Schedule of sensitivity analysis effects on income statement |
Schedule of sensitivity analysis effects on income statement |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | 12/31/2022
Instruments |  | Notional |  | Risk |  | Probable scenario (*) R$ |  | Scenario 1 R$ |  | Scenario 2 R$
Gross exchange position |  | (3,449,813) |  | Dollar |  | 36,913 |  | (4,500,022) |  | (9,000,045)
Cash flow hedge accounting |  | 4,409,760 |  | Dollar |  | (47,184) |  | 5,752,201 |  | 11,504,402
Exchange rate swap CDI x Dollar |  | (67,000) |  | Dollar |  | 717 |  | (87,396) |  | (174,793)
Exchange rate swap Real x Dollar |  | (115,000) |  | Dollar |  | 1,230 |  | (150,009) |  | (300,018)
Net exchange position |  | 777,947 |  | Dollar |  | (8,324) |  | 1,014,774 |  | 2,029,546
(*) |  | The probable scenarios were calculated considering the following variations for the risks: Real x Dollar – valuation of the Real by 0.21% / Real x Euro - valuation of the Real by 0.20% / Euro x Dollar - no variation. Source: Central Bank of Brazil and European Central Bank quotations on March 1, 2023.
Schedule of sensitivity analysis of interest rates |
Schedule of sensitivity analysis of interest rates |  |  |  |  |  |
|  |  |  |  |  | 12/31/2022
Interest |  | Interest rate |  | Scenario 1 |  | Scenario 2
CDI |  | 13.65% |  | 17.06% |  | 20.48%
TJLP |  | 7.20% |  | 9.00% |  | 10.80%
LIBOR |  | 5.14% |  | 6.42% |  | 7.71%
SELIC |  | 13.75% |  | 17.19% |  | 20.63%
Schedule of effects on profit and loss |
Schedule of effects on profit and loss |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  | Consolidated
Changes in interest rates |  | % p.a |  | Assets |  | Liabilities |  | Probable scenario (*) |  | Scenario 1 |  | Scenario 2
CDI |  | 13.65 |  | 5,026,521 |  | (14,249,092) |  | (10,481,452) |  | (10,796,172) |  | (11,110,892)
TJLP |  | 7.20 |  |  |  | (1,044,833) |  | (1,120,061) |  | (1,138,868) |  | (1,157,675)
Libor |  | 5.14 |  |  |  | (6,936,984) |  | (7,293,466) |  | (7,382,586) |  | (7,471,707)
Selic |  | 13.75 |  |  |  | (14,596) |  | (16,603) |  | (17,105) |  | (17,606)
(*) |  | The sensitivity analysis is based on the premise of maintaining the market values as of December 31, 2022 as a probable scenario recorded in the company´s assets and liabilities.
Schedule of dollar x Euro swap |
Schedule of dollar x Euro swap |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | 12/31/2022 |  | 12/31/2022 |  | 12/31/2021 |  | 12/31/2022 |  | 12/31/2021 |  | 12/31/2022 |  | 12/31/2021
|  |  |  | Appreciation (R$) |  | Fair value (market) |  | Other income and expenses (note 27) |  | Other comprehensive income |  | Exchange variation
Maturity |  | Notional |  | Asset position |  | Liability position |  | Amounts receivable / (payable) |  |  |
02/02/2021 to 10/02/2021 (Settled) |  | Platts |  |  |  |  |  |  |  |  |  | (27,728) |  |  |  |  |  |  |  | 16,790
05/31/2022 (Settled) |  | Platts |  |  |  |  |  |  |  | 23,374 |  |  |  |  |  |  |  | (1,087) |  |
12/01/2022 to 12/31/2022 |  | Platts |  | 797,721 |  | (873,385) |  | (75,664) |  | (75,664) |  |  |  |  |  |  |  | 667 |  |
01/01/2023 to 01/31/2023 |  | Platts |  | 1,098,354 |  | (1,218,934) |  | (120,580) |  |  |  |  |  | 120,580 |  |  |  | (1,484) |  |
02/01/2023 to 02/28/2023 |  | Platts |  | 1,087,106 |  | (1,197,361) |  | (110,255) |  |  |  |  |  | 110,255 |  |  |  | (1,244) |  |
03/01/2023 to 03/31/2023 |  | Platts |  | 696,149 |  | (770,062) |  | (73,913) |  |  |  |  |  | 73,913 |  |  |  | (938) |  |
04/01/2023 to 04/30/2023 |  | Platts |  | 372,109 |  | (385,572) |  | (13,463) |  |  |  |  |  | 13,463 |  |  |  | (131) |  |
05/01/2023 to 05/31/2023 |  | Platts |  | 392,861 |  | (404,946) |  | (12,085) |  |  |  |  |  | 12,085 |  |  |  | (81) |  |
06/01/2023 to 06/30/2023 |  | Platts |  | 396,961 |  | (407,934) |  | (10,973) |  |  |  |  |  | 10,973 |  |  |  | (35) |  |
|  |  |  | 4,841,261 |  | (5,258,194) |  | (416,933) |  | (52,290) |  | (27,728) |  | 341,269 |  |  |  | (4,333) |  | 16,790
Schedule of fair value of cash flow accounting platts, net |
Schedule of fair value of cash flow accounting platts, net |  |  |  |  |  |  |
| 12/31/2021 |  | Movement |  | Realization |  | 12/31/2022
Cash flow hedge accounting – “Platts” |  |  | 393,559 |  | (52,290) |  | 341,269
Income tax and social contribution on cash flow hedge accounting |  |  | (133,810) |  | 17,779 |  | (116,031)
Fair Value of cash flow accounting - Platts, net |  |  | 259,749 |  | (34,511) |  | 225,238
Schedule of sensitivity analysis for platts price risks |
Schedule of sensitivity analysis for platts price risks |  |  |  |  |  |
|  | 12/31/2022
Maturity |  | Probable scenario R$ |  | Scenario 1 R$ |  | Scenario 2 R$
01/01/2023 to 01/31/2023 |  | (187,669) |  | (362,057) |  | (654,139)
02/01/2023 to 02/28/2023 |  | (187,132) |  | (359,922) |  | (649,327)
03/01/2023 to 03/31/2023 |  | (129,814) |  | (241,817) |  | (429,410)
04/01/2023 to 04/30/2023 |  | (44,186) |  | (100,637) |  | (195,186)
05/01/2023 to 05/31/2023 |  | (47,457) |  | (107,165) |  | (207,171)
06/01/2023 to 06/30/2023 |  | (44,919) |  | (104,839) |  | (205,199)
|  | (641,177) |  | (1,276,437) |  | (2,340,432)
Schedule of hedging instruments |
Schedule of hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12/31/2022
Designation Date |  | Hedging Instrument |  | Hedged item |  | Type of hedged risk |  | Hedged period |  | Exchange rate on designation |  | Designated amounts (US$’000) |  | Amortizated part (USD'000) |  | Effect on Result (*) (R$'000) |  | Impact on Shareholders' equity (R$'000)
07/23/2015 |  | Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | August 2018 - October 2022 |  | 3.2850 |  | 30,000 |  | (30,000) |  | (11,832) |  |
07/24/2015 |  | Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | August 2018 - October 2022 |  | 3.3254 |  | 100,000 |  | (100,000) |  | (39,382.00000) |  | -
07/27/2015 |  | Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | August 2018 - October 2022 |  | 3.3557 |  | 25,000 |  | (25,000) |  | (1,583.00000) |  | -
07/27/2015 |  | Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | August 2018 - October 2022 |  | 3.3557 |  | 70,000 |  | (70,000) |  | (26,068.00000) |  | -
07/27/2015 |  | Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | August 2018 - October 2022 |  | 3.3557 |  | 30,000 |  | (30,000) |  | (20,038.00000) |  | -
07/28/2015 |  | Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | August 2018 - October 2022 |  | 3.3815 |  | 30,000 |  | (30,000) |  | (11,253.00000) |  | -
3/8/2015 |  | Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | July 2018 - October 2022 |  | 3.3940 |  | 355,000 |  | (355,000) |  | (22,356) |  | -
2/4/2018 |  | Bonds |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | July 2018 - February 2023 |  | 3.3104 |  | 1,170,045 |  | (1,093,045) |  | (389,596) |  | 290,375
07/31/2019 |  | Bonds and Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | January 2020 - April 2026 |  | 3.7649 |  | 1,342,761 |  | (829,661) |  | (770,870) |  | 745,432
10/1/2020 |  | Bonds |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | March 2027 - January 2028 |  | 4.0745 |  | 1,416,000 |  | (1,287,000) |  | (67,766) |  | 1,362,073
01/28/2020 |  | Bonds |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | March 2027 - January 2028 |  | 4.2064 |  | 1,000,000 |  | - |  | - |  | 1,011,300
1/6/2022 |  | Bonds and Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | June 2022 - April 2032 |  | 4.7289 |  | 1,145,300 |  | (62,200) |  | (32,290) |  | 529,419
1/6/2022 |  | Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | June 2022 - May 2033 |  | 4.7289 |  | 878,640 |  | (61,080) |  | (33,265) |  | 399,623
1/12/2022 |  | Bonds |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - June 2031 |  | 5.0360 |  | 490,000 |  |  |  |  |  | 89,033
1/12/2022 |  | Advance on foreign exchange contract |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - November 2023 |  | 5.1643 |  | 60,000 |  |  |  |  |  | 3,204
1/12/2022 |  | Advance on foreign exchange contract |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - December 2025 |  | 5.2565 |  | 100,000 |  |  |  |  |  | (3,880)
1/12/2022 |  | Advance on foreign exchange contract |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - January 2024 |  | 5.2660 |  | 50,000 |  |  |  |  |  | (2,415)
1/12/2022 |  | Advance on foreign exchange contract |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - November 2023 |  | 5.3270 |  | 20,000 |  |  |  |  |  | (2,186)
1/12/2022 |  | Export prepayments in US$ to third parties |  | Part of the highly probable future monthly iron ore exports |  | Foreign exchange - R$ vs. US$ spot rate |  | December 2022 - June 2027 |  | 5.0360 |  | 70,000 |  |  |  |  |  | 12,719
Total |  |  |  |  |  |  |  |  |  |  |  | 8,382,746 |  | (3,972,986) |  | (1,426,299) |  | 4,434,697
(*) |  | The realization of Hedge accounting cash flow is recognized in Other operating income and expenses, note 27.
Schedule of hedge accounting movements |
Schedule of hedge accounting movements |  |  |  |  |  |  |
|  |  |  |  |  |  | Consolidated
| 12/31/2021 |  | Movement |  | Realization |  | 12/31/2022
Cash flow hedge accounting | 5,763,400 |  | 97,596 |  | (1,426,299) |  | 4,434,697
Income tax and social contribution on cash flow hedge accounting | (1,959,556) |  | (33,183) |  | 484,942 |  | (1,507,797)
Fair Value of cash flow accounting, net taxes | 3,803,844 |  | 64,413 |  | (941,357) |  | 2,926,900
Schedule of contractual maturities of financial liabilities including interest |
Schedule of contractual maturities of financial liabilities including interest |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  | Consolidated
At December 31, 2022 | Less than one year |  | From one to two years |  | From two to five years |  | Over five years |  | Total
Borrowings, financing and debentures (note 13) | 5,269,952 |  | 3,874,476 |  | 11,087,002 |  | 21,209,518 |  | 41,440,948
Lease Liabilities (note 15) | 177,010 |  | 155,938 |  | 139,118 |  | 221,780 |  | 693,846
Derivative financial instruments (note 14 a) | 416,935 |  | 69,472 |  |  |  |  |  | 486,407
Trade payables (note 16) | 6,596,915 |  | 27,838 |  | 18,411 |  | 20 |  | 6,643,184
Trade payables - Drawee Risk (note 17) | 5,709,069 |  |  |  |  |  |  |  | 5,709,069
Dividends and interest on equity (note 17) | 611,307 |  |  |  |  |  |  |  | 611,307
| 18,781,188 |  | 4,127,724 |  | 11,244,531 |  | 21,431,318 |  | 55,584,761
Schedule of Fair values of assets and liabilities in book value |
Schedule of Fair values of assets and liabilities in book value |  |  |  |  |  |  |
|  |  | 12/31/2022 |  |  |  | 12/31/2021
| Closing Balance |  | Fair value |  | Closing Balance |  | Fair value
Fixed Rate Notes | 15,656,088 |  | 13,782,836 |  | 15,617,091 |  | 15,700,276
(*) |  | Source: Bloomberg
Schedule of position of the derivatives |
Schedule of position of the derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 12/31/2022 |  | 12/31/2021 |  | 12/31/2020
|  |  |  |  |  |  |  | Appreciation (R$) |  | Fair value (market) |  | Impact on financial income (expenses) (note 28)
Instrument |  | Maturity |  | Functional Currency |  | Notional amount |  | Asset position |  | Liability position |  | Amounts receivable / (payable) |
Exchange rate swap |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exchange rate swap Dollar x Euro |  | Settled |  | Dollar |  |  |  |  |  |  |  |  |  |  |  | 7,119 |  | (9,672)
Exchange rate swap Dollar x Real |  | Settled |  | Dollar |  | 100,000 |  |  |  |  |  |  |  | 176,991 |  | 37,322 |  |
Exchange rate swap CDI x Dollar |  | 10/02/2023 |  | Dollar |  | 67,000 |  | 297,020 |  | (355,025) |  | (58,005) |  | 43,817 |  | (9,960) |  | (106,143)
Exchange rate swap Real x Dollar |  | 10/6/2027 |  | Dollar |  | 115,000 |  | 622,776 |  | (634,243) |  | (11,467) |  | (11,467) |  |  |  |
Total Swap |  |  |  |  |  | 282,000 |  | 919,796 |  | (989,268) |  | (69,472) |  | 209,341 |  | 34,481 |  | (115,815)
Interest rate swap |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate (Debentures) CDI x IPCA |  | 07/15/2031 |  | Real |  | 576,448 |  | 612,994 |  | (649,635) |  | (36,641) |  | (67,471) |  | (17,432) |  |
Interest rate (Debentures) CDI x IPCA |  | 07/15/2032 |  | Real |  | 745,000 |  | 813,924 |  | (850,497) |  | (36,573) |  | (36,571) |  |  |  |
Interest rate (Debentures) CDI x IPCA |  | 07/15/2036 |  | Real |  | 423,552 |  | 449,550 |  | (492,040) |  | (42,490) |  | (25,057) |  | (17,488) |  |
Interest rate (Debentures) CDI x IPCA |  | 07/15/2037 |  | Real |  | 655,382 |  | 691,974 |  | (717,553) |  | (25,579) |  | (25,579) |  |  |  |
Interest rate (Debentures) CDI x IPCA |  | 02/16/2032 |  | Real |  | 600,000 |  | 657,792 |  | (666,223) |  | (8,431) |  | (24,089) |  |  |  |
Interest rate (Debentures) CDI x IPCA |  | 12/2/2032 |  | Real |  | 600,000 |  | 658,086 |  | (666,351) |  | (8,265) |  | (79,130) |  |  |  |
Total interest rate (Debentures) CDI x IPCA |  |  |  |  |  | 3,600,382 |  | 3,884,320 |  | (4,042,299) |  | (157,979) |  | (257,897) |  | (34,920) |  |
|  |  |  |  |  |  |  | 4,804,116 |  | (5,031,567) |  | (227,451) |  | (48,556) |  | (439) |  | (115,815)
Schedule of balance sheet and statement of income |
Schedule of balance sheet and statement of income |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | 12/31/2022 |  | 12/31/2021 |  | 12/31/2020
Instruments |  | Liabilities |  | Financial income (expenses), net (note 28)
| Non-current |  | Total |
Exchange rate swap (NDF) Dollar x real (settled) |  |  |  |  |  | 176,991 |  | 37,322 |  |
Exchange rate swap Dollar x Euro (Settled) |  |  |  |  |  |  |  | 7,119 |  | (9,070)
Exchange rate swap GBP x Euro |  |  |  |  |  |  |  |  |  | (602)
Exchange rate swap CDI x Dollar |  | (58,005) |  | (58,005) |  | 43,817 |  | (9,960) |  | (106,143)
Interest rate swap CDI x IPCA |  | (157,979) |  | (157,979) |  | (257,897) |  | (34,920) |  |
|  | (227,451) |  | (227,451) |  | (48,556) |  | (439) |  | (115,815)
Schedule of other operating income and expenses |
Schedule of other operating income and expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class of shares |  | 12/31/2022 |  | 12/31/2021 |  | 12/31/2022 |  | 12/31/2021 |  | 12/31/2020
| Quantity |  | Equity interest (%) |  | Share price |  | Closing Balance |  | Quantity |  | Equity interest (%) |  | Share price |  | Closing Balance |  | Profit or loss (notes 27 and 28)
USIM3 |  | 106,620,851 |  | 15.12% |  | 7.41 |  | 790,061 |  | 106,620,851 |  | 15.12% |  | 14.51 |  | 1,547,069 |  | (757,008) |  | (121,593) |  | 623,652
USIM5 |  | 55,144,456 |  | 10.07% |  | 7.16 |  | 394,834 |  | 55,144,456 |  | 10.07% |  | 15.16 |  | 835,990 |  | (441,156) |  | 506,890 |  | 566,837
|  |  |  |  |  |  |  | 1,184,895 |  |  |  |  |  |  |  | 2,383,059 |  | (1,198,164) |  | 385,297 |  | 1,190,489
PATI3 |  | 2,705,726 |  | 11.31% |  | 35.00 |  | 94,700 |  | 2,705,726 |  | 11.31% |  | 70.34 |  | 190,321 |  | (95,620) |  | 109,254 |  | 12,579
|  |  |  |  |  |  |  | 1,279,595 |  |  |  |  |  |  |  | 2,573,380 |  | (1,293,784) |  | 494,551 |  | 1,203,068
Schedule of sensitivity analysis for stock price risks |
Schedule of sensitivity analysis for stock price risks |  |  |  |  |  |
|  |  |  | 12/31/2022
Class of shares |  | Probable scenario |  | Scenario 1 |  | Scenario 2
|  | 5% |  | 25% |  | 50%
USIM3 |  | (39,503) |  | (197,515) |  | (395,030)
USIM5 |  | (19,742) |  | (98,709) |  | (197,417)
PATI3 |  | (4,735) |  | (23,675) |  | (47,350)
Schedule of capital management |
Schedule of capital management |  |  |  |
Thousands of reais |  | 12/31/2022 |  | 12/31/2021
Shareholder's equity (equity) |  | 21,907,929 |  | 23,374,389
Borrowings and Financing (Third-party capital) |  | 40,918,742 |  | 32,507,522
Gross Debit/Shareholder's equity |  | 1.87 |  | 1.39

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