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BORROWINGS AND FINANCING | 12 Months Ended
--- | ---
Dec. 31, 2023
Notes and other explanatory information [abstract] |
BORROWINGS AND FINANCING |
| 13. | BORROWINGS AND FINANCING
The balances of borrowings and financing that, recorded at amortized cost are as follows:
Schedule of borrowings and financing |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  | Consolidated
|  |  | Current Liabilities |  | Non-current Liabilities
|  |  | 12/31/2023 |  | 12/31/2022 |  | 12/31/2023 |  | 12/31/2022
Foreign Debt |  |  |  |  |  |  |  |  |
Floating Rates in USD |  |  |  |  |  |  |  |  |
Prepayment |  |  | 548,230 |  | 1,571,208 |  | 6,576,696 |  | 5,474,359
Fixed Rates in USD |  |  |  |  |  |  |  |  |
Bonds, Perpetual bonds, Facility, CCE and ACC |  |  | 2,079,972 |  | 1,189,717 |  | 17,815,926 |  | 16,790,284
Intercompany |  |  |  |  |  |  |  |  |
Fixed interest in EUR |  |  |  |  |  |  |  |  |
Intercompany |  |  |  |  |  |  |  |  |
Facility |  |  | 327,873 |  | 62,187 |  | 114,227 |  | 166,302
|  |  | 2,956,075 |  | 2,823,112 |  | 24,506,849 |  | 22,430,945
Debt agreements in Brazil |  |  |  |  |  |  |  |  |
Floating Rate Securities in R$: |  |  |  |  |  |  |  |  |
BNDES/FINAME/FINEP, Debentures, NCE and CCB |  |  | 4,745,721 |  | 2,446,840 |  | 13,265,267 |  | 13,740,051
|  |  | 4,745,721 |  | 2,446,840 |  | 13,265,267 |  | 13,740,051
Total Borrowings and Financing |  |  | 7,701,796 |  | 5,269,952 |  | 37,772,116 |  | 36,170,996
Transaction Costs and Issue Premiums |  |  | (88,429) |  | (76,316) |  | (526,408) |  | (445,890)
Total Borrowings and Financing + Transaction cost |  |  | 7,613,367 |  | 5,193,636 |  | 37,245,708 |  | 35,725,106
| 13.a) | Movements of borrowings and financing
The following table shows amortization and funding during the year:
Schedule of amortization |  |  |  |
|  |  |  | Consolidated
|  | 12/31/2023 |  | 12/31/2022
Opening balance |  | 40,918,742 |  | 32,507,522
New debts |  | 15,753,501 |  | 20,248,223
Repayment |  | (9,892,344) |  | (10,782,858)
Payments of charges |  | (3,428,721) |  | (2,315,586)
Accrued charges (note 28) |  | 3,664,313 |  | 2,595,011
Consolidation of companies |  |  |  | 81,978
Others (1) |  | (2,156,416) |  | (1,415,548)
Closing balance |  | 44,859,075 |  | 40,918,742
| (1) | Including unrealized exchange and monetary variations and funding cost.
In 2023, the Company entered into new debt agreements and amortized borrowings and financing as shown below:
Schedule of amortized borrowings and financing |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Consolidated
|  |  |  |  |  |  |  | 12/31/2023
Nature |  | New debts |  | Maturities |  | Repayment |  | Interest payment
Pre-Payment |  | 1,890,333 |  | 2023 to 2035 |  | (1,264,949) |  | (450,272)
Bonds, ACC, CCE and Facility |  | 8,106,514 |  | 2023 to 2025 |  | (4,728,468) |  | (999,626)
BNDES/FINAME/FINEP, Debentures, NCE, Facility and CCB |  | 5,756,654 |  | 2023 to 2038 |  | (3,898,927) |  | (1,978,823)
|  | 15,753,501 |  |  |  | (9,892,344) |  | (3,428,721)
| 13.b) | Maturities of borrowings and financing presented in current and non-current liabilities
Schedule of maturities of borrowings and financing |  |  |  |  |  |
|  |  |  |  |  | Consolidated
|  |  |  |  |  | 12/31/2023
|  | Borrowings and financing in foreign currency |  | Borrowings and financing in national currency |  | Total
Average rate |  | in Dólar 6.79%in Euro 5.44% |  | in Real 13.68% |
2024 |  | 2,956,075 |  | 4,746,339 |  | 7,702,414
2025 |  | 3,537,254 |  | 1,786,460 |  | 5,323,714
2026 |  | 2,214,220 |  | 2,588,940 |  | 4,803,160
2027 |  | 907,498 |  | 2,584,111 |  | 3,491,609
2028 |  | 6,860,953 |  | 1,383,493 |  | 8,244,446
2029 to 2031 |  | 7,964,495 |  | 2,112,635 |  | 10,077,130
After 2032 |  | 3,022,429 |  | 2,809,010 |  | 5,831,439
|  | 27,462,924 |  | 18,010,988 |  | 45,473,912
· Covenants The Company debt agreements provide for the fulfillment of certain non-financial obligations, as well as the maintenance of certain parameters and performance indicators, such as disclosure of its audited financial statements according to regulatory deadlines or payment of commission for risk assumption, if the indicator of net debt to EBITDA reaches the levels foreseen in those agreements. As of December 31, 2023, the Company is compliant with the financial and non-financial obligations (covenants) of its existing agreements. Accounting Policy
Borrowings and financing are initially recognized at fair value, net of transaction costs and subsequently measured at amortized cost using the effective interest rate and charges methods. Interest, commissions, and possible financial charges are recorded pro-rata on an accrual basis.

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