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Trade accounts receivables | 12 Months Ended
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Dec. 31, 2024
Notes and other explanatory information [abstract] |
Trade accounts receivables |
| 17 | Trade accounts receivables
Accounting policy Trade accounts receivables are amounts due from customers for goods sold or services provided in the ordinary course of the Company’s business. Trade accounts receivables are recognized initially at fair value and subsequently measured at: (i) Fair value through profit or loss when they are related to the Company’s accounts receivables portfolio outstanding at the balance sheet date that is designated at inception to be included in a forfaiting program whereby the Company, at its discretion, can discount certain outstanding trade accounts receivables and receive payments in advance. The program is used to meet short-term liquidity needs. Trade accounts receivables within this program are derecognized since all risks and rewards, control of the assets and contractual rights to receive the assets cash flows are transferred to the counterparty. (ii) Fair value through profit or loss when they are related to sales that are subsequently adjusted to changes in LME prices, which are recorded in net revenues. These accounts receivable do not meet the SPPI criteria because there is a component of commodity price risk that modifies the cash flows that otherwise would be required by the sales contract. (iii) Amortized cost using the effective interest rate method, less impairment, when the receivables do not meet the aforementioned classifications. Credit risk can arise from non-performance by counterparties of their contractual obligations to the Company. To ensure an effective credit risk evaluation, management applies procedures related to the application for credit granting and approvals, renewal of credit limits, continuous monitoring of credit exposure in relation to established limits and events that trigger requirements for secured payment terms. As part of the Company’s process, the credit exposures with all counterparties are regularly monitored and assessed. The Company applies the IFRS 9 simplified approach to measure the impairment losses for trade accounts receivables. This approach requires the use of the lifetime expected credit losses on its trade accounts receivables measured at amortized cost. To calculate the lifetime expected credit losses the Company uses a provision matrix and forward-looking information. The additions to impairment of trade accounts receivables are included in selling expenses. Trade accounts receivables are generally written off when there is no expectation of recovering additional cash.
| (a) | Composition
Schedule of composition of trade accounts receivables |  |  |
| 2024 |  | 2023
Trade accounts receivables | 145,409 |  | 147,619
Related parties - note 20 | 885 |  | 852
Impairment of trade accounts receivables | (5,501) |  | (6,561)
| 140,793 |  | 141,910
| (b) | Changes in impairment of trade accounts receivables
Schedule of changes in impairment of trade accounts receivables |  |  |
| 2024 |  | 2023
Balance at the beginning of the year | (6,561) |  | (4,326)
Additions | (11,754) |  | (4,101)
Reversals | 12,084 |  | 2,023
Foreign exchange gains (losses) | 730 |  | (157)
Balance at the end of the year | (5,501) |  | (6,561)
| (c) | Analysis by currency
Schedule of analysis of trade accounts receivables by currency |  |  |
| 2024 |  | 2023
USD | 121,240 |  | 122,025
BRL | 19,540 |  | 19,435
Other | 13 |  | 450
| 140,793 |  | 141,910
| (d) | Aging of trade accounts receivables
Schedule of aging of trade accounts receivables |  |  |
| 2024 |  | 2023
Current | 129,918 |  | 125,625
Up to 3 months past due | 12,693 |  | 18,529
From 3 to 6 months past due | 568 |  | 1,405
Over 6 months past due | 3,115 |  | 2,912
| 146,294 |  | 148,471
Impairment of trade accounts receivables | (5,501) |  | (6,561)
| 140,793 |  | 141,910

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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard -URIDate 2024-03-27 + Details
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