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Derivative instruments (Tables)
 12 Months Ended
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: 
AssetsLiabilities
Type of DerivativeBalance Sheets Location20202019Balance Sheets Location20202019
Derivatives designated as hedging instruments
Cash Flow hedge
Forward contractsOther receivables$— $259 Accrued payroll and other liabilities$(1,264)$(532)
Cross-currency interest rate swap Derivative instruments86,534 37,219 Derivative instruments(6,194)(8,179)
Call spread Derivative instruments21,858 20,609 Derivative instruments— — 
Coupon-only swap Derivative instruments3,591 — Derivative instruments— (5,326)
Subtotal111,983 58,087 (7,458)(14,037)
Derivatives not designated as hedging instruments
Forward contractsOther receivables— 20 Accrued payroll and other liabilities— — 
Call spreadDerivative instruments3,798 — Derivative instruments— — 
Coupon-only swapDerivative instruments202 — Derivative instruments(5,017)— 
Call Spread + Coupon-only swapDerivative instruments6,620 — Derivative instruments(8,050)— 
Subtotal10,620 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)

BankPayableReceivableInterest payment datesMaturity
CurrencyAmountInterest rateCurrencyAmountInterest rate
JP Morgan Chase Bank, N.A.BRL108,000 13 %$35,400 4.38 %March 31/ September 30September 2023
JP Morgan Chase Bank, N.A.BRL98,670 13 %$30,000 6.02 %March 31/ September 30September 2023
Citibank N.A.BRL94,200 13 %$30,000 6.29 %March 31/ September 30September 2023
Citibank N.A.BRL112,738 13 %$20,049 8.08 %March 31/ September 30September 2023
The following table presents information related to the terms of the agreements:
BankPayableReceivableInterest payment datesMaturity
CurrencyAmountInterest rateCurrencyAmountInterest rate
BAML (i)BRL156,250 13.64 %$50,000 6.91 %March 31/ September 30April 2027
Banco Santander S.A.BRL155,500 13.77 %$50,000 6.91 %June 30/ December 31September 2023

(i)Bank of America Merrill Lynch Banco Múltiplo S.A.
The following table presents information related to the terms of the agreements:

BankNominal AmountStrike priceMaturity
CurrencyAmountCall option writtenCall 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:

BankPayableReceivableInterest payment datesMaturity
CurrencyAmountInterest rateCurrencyAmountInterest rate
Citibank S.A.BRL155,500 11.08 %$50,000 6.91 %June 30/ December 31September 2023
JP Morgan S.A.BRL156,250 11.18 %$50,000 6.91 %March 31/ September 30April 2027
The following table presents information related to the terms of the agreements:
Nominal AmountStrike price
CurrencyAmountCall option writtenCall option bought
$30,000 8.20 5.62 
The following table presents information related to the terms of the agreements:
PayableReceivableInterest payment dates
CurrencyAmountInterest rate (i)CurrencyAmountInterest rate
BRL168,690 
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 AmountStrike price
CurrencyAmountCall option writtenCall option bought
$50,000 8.20 5.62 


PayableReceivableInterest payment dates
CurrencyAmountInterest rate (i)CurrencyAmountInterest rate
BRL281,150
CDI plus 2.47%
$50,0005.46%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)
202020192018202020192018
Forward contracts$904 $(10)$731 $(1,895)$(711)$(75)
Cross-currency interest rate swaps55,124 (8,506)11,279 (37,376)2,056 (18,888)
Call Spread6,758 4,377 4,034 (18,153)(3,561)(15,421)
Coupon-only swap8,604 (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:202020192018
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.