Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Schedule of property, plant and equipment

13. Property, plant and equipment

The cost, weighted average depreciation rates and accumulated depreciation are as follows:

		December 31, 2023					December 31, 2022
	Weighted average depreciation rate	Cost	Accumulated depreciation		Net book value	Cost		Accumulated depreciation		Net book value
IT equipment	10%-33%	83,461	(61,849	)	21,612	80,263		(43,294	)	36,969
Furniture, equipment and fittings	10%-33%	54,986	(32,739	)	22,247	60,920		(36,818	)	24,102
Property, buildings and improvements	5%-20%	54,372	(43,555	)	10,817	53,027		(40,381	)	12,646
In progress	-	16,765	-		16,765	4,494		-		4,494
Right of use assets	12%	178,940	(98,932	)	80,008	257,034		(137,948	)	119,086
Land	-	43	-		43	391		-		391
Total		388,567	(237,075	)	151,492	456,129		(258,441	)	197,688

Changes in property, plant and equipment are as follows:

	IT equipment		Furniture, equipment and fittings		Property, buildings and improvements		In progress(ii)		Right of use assets (i)		Land		Total
As of December 31, 2021	16,615		8,390		17,872		677		141,737		391		185,682
Additions	35,086		21,571		657		3,829		12,002		-		73,145
Additions through business combinations	54		12		-		6		-		-		72
Disposals / Cancelled contracts	-		(6	)	-		(18	)	(3,796	)	-		(3,820	)
Depreciation	(15,727	)	(5,379	)	(5,428	)	-		(30,857	)	-		(57,391	)
Transfers	941		(486	)	(455	)	-		-		-		-
As of December 31, 2022	36,969		24,102		12,646		4,494		119,086		391		197,688
Additions	2,673		2,298		-		16,565		23,871		-		45,407
Additions through business combinations	-		613		183		-		-		-		796
Disposals / Cancelled contracts	(2	)	(1,029	)	(586	)	-		(32,348	)	(348	)	(34,313	)
Depreciation	(18,028	)	(3,737	)	(5,720	)	-		(30,601	)	-		(58,086	)
Transfers	-		-		4,294		(4,294	)	-		-		-
As of December 31, 2023	21,612		22,247		10,817		16,765		80,008		43		151,492

(i)	In 2023, the addition of right of use of R$ 23,871 is substantially referred to recognition of a new lease agreement for the property used to offer preparatory course for university entrance exams (“Anglo course”), see the corresponding lease liabilities in note 17.
(ii)	In 2023, refers to improvements made to the new leased property to offer Anglo courses.

(i)

The Company assesses at each reporting date, whether there is an indication that a property, plant and equipment asset may be impaired. If any indication exists, the Company estimates the asset’s recoverable amount. There were no indications of impairment of property, plant and equipment as of December 31, 2023 and 2022.