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Derivative instruments (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022 and 2021: 
AssetsLiabilities
Type of DerivativeBalance Sheets Location20222021Balance Sheets Location20222021
Derivatives designated as hedging instruments
Cash Flow hedge
Forward contractsOther receivables$268 $660 Accrued payroll and other liabilities$(1,147)$(51)
Cross-currency interest rate swap Derivative instruments43,757 107,386 Derivative instruments(581)(2,898)
Subtotal44,025 108,046 (1,728)(2,949)
Derivatives not designated as hedging instruments
Cross-currency interest rate swapDerivative instruments38,031 — Derivative instruments(1,224)— 
Call Spread + Coupon-only swapDerivative instruments6,445 8,194 Derivative instruments(16,703)(12,473)
Call spreadDerivative instruments3,626 4,791 Derivative instruments— — 
Coupon-only swapDerivative instruments— — Derivative instruments(9,874)(7,555)
Sustainability-linked ESG Principal Only SwapDerivative instruments1,050 — Derivative instruments— — 
Subtotal49,152 12,985 (27,801)(20,028)
Total derivative instruments$93,177 $121,031 $(29,529)$(22,977)
Schedule of derivative instruments
The following table presents information related to the terms of the agreements:

BankPayableReceivableInterest payment datesMaturity
CurrencyNotionalInterest rateCurrencyNotionalInterest rate
JP Morgan Chase Bank, N.A.BRL108,000 13 %$35,390 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
CurrencyNotionalInterest rateCurrencyNotionalInterest 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
CurrencyNotionalCall 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
CurrencyNotionalInterest rateCurrencyNotionalInterest 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
Type of derivativeEntityNominal AmountStrike priceMaturity
CurrencyNotionalCall option boughtCall option written
Call SpreadJPMorgan$30,000 5.628.20April 2027
Call SpreadItaú Unibanco S.A. (i)$50,000 5.628.20April 2027

Type of derivativeEntityPayableReceivableInterest payment datesMaturity
CurrencyNotionalInterest rate (ii)CurrencyNotionalInterest rate
Coupon-only swapJPMorganBRL168,690 
CDI plus 2.42%
$30,000 5.46 %April 30/ October 31April 2027
Coupon-only swapItaú Unibanco S.A. (i)BRL281,150 
CDI plus 2.47%
$50,000 5.46 %April 30/ October 31April 2027
Sustainability-linked ESG Principal Only SwapCitibank S.A.BRL155,500 
Fixed 0.88%
$50,000 -April 30/ October 31April 2027

(i) Combination of call spread and coupon only swap into one agreement with Itaú Unibanco S.A
(ii) “CDI” Certificados de Depósitos Interbancários
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 (loss) for the fiscal years ended December 31, 2022, 2021 and 2020 for each type of derivative relationship: 
Derivatives in Cash Flow
Hedging Relationships		(Loss) Gain Recognized in Accumulated OCI on Derivative Loss (Gain) Reclassified from Accumulated OCI into income (loss)(i)
202220212020202220212020
Forward contracts (i)$(1,225)$1,366 $904 $(263)$507 $(1,895)
Cross-currency interest rate swaps (ii)(31,174)23,802 55,124 8,727 (8,564)(37,376)
Call Spread (iii)— (2,593)6,758 3,275 1,915 (18,153)
Coupon-only swap (iii)— 1,093 8,604 (964)(797)(421)
Total$(32,399)$23,668 $71,390 $10,775 $(6,939)$(57,845)

(i)The results recognized in income related to forward contracts were recorded as an adjustment to food and paper.
(ii)The net (loss) gain recognized in income, related to cross-currency interest rate swaps is presented as follows:

Adjustment to:202220212020
Foreign currency exchange results$(9,995)$12,392 $40,353 
Gain from derivative instruments (i)5,907 — — 
Net interest expense and other financing results(4,639)(3,828)(2,977)
Total$(8,727)$8,564 $37,376 

(i) Related to the discontinued relationships of Cross-currency interest rate swaps during September 2022.

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.

(iii)    Agreements unwound in May 2021. The results recognized in income related to Call Spread agreements were recorded as an adjustment to “Foreign currency exchange results”. The results recognized in income related to Coupon-only agreements were recorded as an adjustment to “Net interest expense and other financing results”.