XML 89 R56.htm IDEA: XBRL DOCUMENT

INCOME TAX AND SOCIAL CONTRIBUTION (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax And Social Contribution

Schedule of income tax and social contribution income expense


					Consolidated
	12/31/2023		12/31/2022		12/31/2021
Income tax and social contribution income (expense)
Current	(1,036,262)		(1,537,966)		(4,240,802)
Deferred	403,544		(420,773)		(759,355)
Total	(632,718)		(1,958,739)		(5,000,157)

Schedule of reconciliation of the Company's income tax and social contribution expenses


					Consolidated
	12/31/2023		12/31/2022		12/31/2021
Profit/(Loss) before income tax and social contribution	1,035,367		4,126,437		18,595,778
Tax rate	34%		34%		34%
Income tax and social contribution at combined statutory rate	(352,025)		(1,402,989)		(6,322,565)
Adjustment to reflect the effective rate:
Equity in results of affiliated companies	178,978		155,125		71,833
Difference Tax Rate in companies abroad	(181,409)		(338,278)		(437,567)
Transfer Price Adjustment and Profits Abroad	(91,883)		(195,112)		(55,821)
Income taxes and social contribution on foreign profit	131,836
Tax incentives	71,756		50,333		273,040
Interest on equity	47,315		290,968		185,325
Recognition/(reversal) of tax credits	(337,239)		(562,014)		1,027,252
Other permanent deductions (additions)	(100,047)		43,228		258,346
Income tax and social contribution in net income for the year	(632,718)		(1,958,739)		(5,000,157)
Effective tax rate	61%		47%		27%

Schedule of deferred income tax and social contribution


						Consolidated
		12/31/2023		12/31/2022		12/31/2021
Deferred
Income tax losses		4,198,734		2,679,028		1,537,623
Social contribution tax losses		1,441,925		894,183		583,845
Temporary differences		(911,027)		1,305,557		2,447,543
Tax, social security, labor, civil and environmental provisions		550,567		584,834		265,328
Estimated losses on assets		238,211		369,826		283,266
Gains/(Losses) on financial assets		328,678		468,813		6,484
Actuarial Liabilities (Pension and Health Plan)		171,816		226,875		210,009
Provision for consumption and services		22,346		205,880		163,620
Cash Flow Hedge Accounting and Unrealized Exchange Variations		509,386		1,459,012		2,985,859
(Gain) on loss of control of Transnordestina		(224,096)		(224,096)		(92,180)
Fair Value SWT/CBL Acquisition		(149,489)		(149,489)		(178,160)
Business combination		(1,473,119)		(1,632,370)		(1,338,674)
Others		(885,327)		(3,728)		141,991
Total		4,729,632		4,878,768		4,569,011

Total Deferred Assets		5,991,213		5,095,718		5,072,092
Total Deferred Liabilities		(1,261,581)		(216,950)		(503,081)
Total Deferred		4,729,632		4,878,768		4,569,011

Schedule of estimated recovery of deferred tax assets


		Consolidated
2024		782,640
2025		760,047
2026		492,913
2027		476,082
2028 and beyond		3,479,531
Deferred asset		5,991,213
Deferred liabilities - Parent Company		(957,579)
Net deferred asset		5,033,634
Deferred liabilities - subsidiaries		(304,002)
Net deferred asset		4,729,632

Schedule of changes in deferred tax and social contribution



		Consolidated
Balance at December 31, 2020		3,256,110
Recognized in the result		(759,355)
Recognized in other comprehensive income		2,073,437
Acquisition of companies		(1,181)
Balance at December 31, 2021		4,569,011
Recognized in the result		(420,773)
Recognized in other comprehensive income		(322,876)
Acquisition of companies		1,053,406
Balance at December 31, 2022		4,878,768
Recognized in the result		403,544
Recognized in other comprehensive income		(559,050)
Use of tax credit in installment program		(445)
Reverse incorporation		6,815
Balance at December 31, 2023		4,729,632

Schedule of income tax and social contribution recognized in equity


			Consolidated
	12/31/2023		12/31/2022
Income tax and social contribution
Actuarial gains on defined benefit pension plan	83,436		100,139
Exchange differences on translating foreign operations	(325,350)		(325,350)
Cash flow hedge accounting	1,030,432		1,571,953
	788,518		1,346,742