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Derivative instruments (Tables) | 12 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments, Fair Value | The following table presents the fair values of derivative instruments included in the consolidated balance sheets as of December 31, 2020 and 2019:
|  | Assets |  |  | Liabilities
Type of Derivative | Balance Sheets Location | 2020 | 2019 |  | Balance Sheets Location | 2020 | 2019
Derivatives designated as hedging instruments |  |  |  |
Cash Flow hedge |  |  |  |  |  |  |
Forward contracts | Other receivables | $ | — |  | $ | 259 |  |  | Accrued payroll and other liabilities | $ | (1,264) |  | $ | (532) |
Cross-currency interest rate swap | Derivative instruments | 86,534 |  | 37,219 |  |  | Derivative instruments | (6,194) |  | (8,179) |
Call spread | Derivative instruments | 21,858 |  | 20,609 |  |  | Derivative instruments | — |  | — |
Coupon-only swap | Derivative instruments | 3,591 |  | — |  |  | Derivative instruments | — |  | (5,326) |
Subtotal |  | 111,983 |  | 58,087 |  |  |  | (7,458) |  | (14,037) |
Derivatives not designated as hedging instruments |  |  |  |  |  |
Forward contracts | Other receivables | — |  | 20 |  |  | Accrued payroll and other liabilities | — |  | — |
Call spread | Derivative instruments | 3,798 |  | — |  |  | Derivative instruments | — |  | — |
Coupon-only swap | Derivative instruments | 202 |  | — |  |  | Derivative instruments | (5,017) |  | — |
Call Spread + Coupon-only swap | Derivative instruments | 6,620 |  | — |  |  | Derivative instruments | (8,050) |  | — |
Subtotal |  | 10,620 |  | 20 |  |  |  | (13,067) |  | — |
Total derivative instruments | $ | 122,603 |  | $ | 58,107 |  |  |  | $ | (20,525) |  | $ | (14,037) |
Schedule of Derivative Instruments | The following table presents information related to the terms of the agreements: Derivatives designated as hedging instruments (continued) Cash flow hedge (continued) Cross-currency interest rate swap (continued)
Bank |  | Payable |  | Receivable |  | Interest payment dates |  | Maturity
| Currency |  | Amount |  | Interest rate |  | Currency |  | Amount |  | Interest rate |
JP Morgan Chase Bank, N.A. |  | BRL |  | 108,000 |  |  | 13 | % |  | $ |  | 35,400 |  |  | 4.38 | % |  | March 31/ September 30 |  | September 2023
JP Morgan Chase Bank, N.A. |  | BRL |  | 98,670 |  |  | 13 | % |  | $ |  | 30,000 |  |  | 6.02 | % |  | March 31/ September 30 |  | September 2023
Citibank N.A. |  | BRL |  | 94,200 |  |  | 13 | % |  | $ |  | 30,000 |  |  | 6.29 | % |  | March 31/ September 30 |  | September 2023
Citibank N.A. |  | BRL |  | 112,738 |  |  | 13 | % |  | $ |  | 20,049 |  |  | 8.08 | % |  | March 31/ September 30 |  | September 2023
The following table presents information related to the terms of the agreements:
Bank |  | Payable |  | Receivable |  | Interest payment dates |  | Maturity
| Currency |  | Amount |  | Interest rate |  | Currency |  | Amount |  | Interest rate |
BAML (i) |  | BRL |  | 156,250 |  |  | 13.64 | % |  | $ |  | 50,000 |  |  | 6.91 | % |  | March 31/ September 30 |  | April 2027
Banco Santander S.A. |  | BRL |  | 155,500 |  |  | 13.77 | % |  | $ |  | 50,000 |  |  | 6.91 | % |  | June 30/ December 31 |  | September 2023
(i)Bank of America Merrill Lynch Banco Múltiplo S.A. The following table presents information related to the terms of the agreements:
Bank |  | Nominal Amount |  | Strike price |  | Maturity
| Currency |  | Amount |  | Call option written | Call option bought |
Citibank S.A. |  | $ |  | 50,000 |  |  |  | 4.49 |  |  | 3.11 |  |  | September 2023
JP Morgan S.A. |  | $ |  | 50,000 |  |  |  | 5.20 |  |  | 3.13 |  |  | April 2027
The following table presents information related to the terms of the agreements:
Bank |  | Payable |  | Receivable |  | Interest payment dates |  | Maturity
| Currency |  | Amount |  | Interest rate |  | Currency |  | Amount |  | Interest rate |
Citibank S.A. |  | BRL |  | 155,500 |  |  | 11.08 | % |  | $ |  | 50,000 |  |  | 6.91 | % |  | June 30/ December 31 |  | September 2023
JP Morgan S.A. |  | BRL |  | 156,250 |  |  | 11.18 | % |  | $ |  | 50,000 |  |  | 6.91 | % |  | March 31/ September 30 |  | April 2027
The following table presents information related to the terms of the agreements:
| Nominal Amount |  | Strike price |
| Currency |  | Amount |  | Call option written | Call option bought |
| $ |  | 30,000 |  |  |  | 8.20 |  |  | 5.62 |  |
The following table presents information related to the terms of the agreements:
| Payable |  | Receivable |  | Interest payment dates |
| Currency |  | Amount |  | Interest rate (i) |  | Currency |  | Amount |  | Interest rate |
| BRL |  | 168,690 |  |  | CDI plus 2.42% |  | $ |  | 30,000 |  |  | 5.46 | % |  | April 30/ October 31 |
The following tables present information related to the terms of the agreements:
| Nominal Amount |  | Strike price |
| Currency |  | Amount |  | Call option written | Call option bought |
| $ |  | 50,000 |  |  |  | 8.20 |  |  | 5.62 |  |
Payable |  | Receivable |  | Interest payment dates
Currency |  | Amount |  | Interest rate (i) |  | Currency |  | Amount |  | Interest rate |
BRL |  | 281,150 |  | CDI plus 2.47% |  | $ |  | 50,000 |  | 5.46% |  | April 30/ October 31
Schedule of Cash Flow Hedges Included In Accumulated Other Comprehensive Income (Loss) | The following table present the pretax amounts affecting income and other comprehensive income for the fiscal years ended December 31, 2020, 2019 and 2018 for each type of derivative relationship: Derivatives designated as hedging instruments (continued) Cash flow hedge (continued) Additional disclosures (continued)
Derivatives in Cash Flow Hedging Relationships |  | Gain (Loss) Recognized in Accumulated OCI on Derivative |  | (Gain) Loss Reclassified from Accumulated OCI into (loss) income (i) |  |  |
| 2020 | 2019 | 2018 |  | 2020 | 2019 | 2018 |  |  |  |  |
Forward contracts |  | $ | 904 |  | $ | (10) |  | $ | 731 |  |  | $ | (1,895) |  | $ | (711) |  | $ | (75) |  |  |  |  |  |
Cross-currency interest rate swaps |  | 55,124 |  | (8,506) |  | 11,279 |  |  | (37,376) |  | 2,056 |  | (18,888) |  |  |  |  |  |
Call Spread |  | 6,758 |  | 4,377 |  | 4,034 |  |  | (18,153) |  | (3,561) |  | (15,421) |  |  |  |  |  |
Coupon-only swap |  | 8,604 |  | (1,889) |  | 1,864 |  |  | (421) |  | 1,860 |  | 2,415 |  |  |  |  |  |
Total |  | $ | 71,390 |  | $ | (6,028) |  | $ | 17,908 |  |  | $ | (57,845) |  | $ | (356) |  | $ | (31,969) |  |  |  |  |  |
(i)The results recognized in income related to forward contracts were recorded as an adjustment to food and paper. The net gain (loss) recognized in income, related to cross-currency interest rate swaps is presented as follows:
Adjustment to: | 2020 |  | 2019 |  | 2018
Foreign currency exchange results | $ | 40,353 |  |  | $ | 6,346 |  |  | $ | 28,588 |
Net interest expense | (2,977) |  |  | (8,402) |  |  | (9,700) |
Total | $ | 37,376 |  |  | $ | (2,056) |  |  | $ | 18,888 |
The results recognized in income related to call spread agreements and coupon-only swap agreements were recorded as an adjustment to foreign currency exchange and interest expense, respectively.

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959 + Details
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