XML 75 R55.htm IDEA: XBRL DOCUMENT
v3.21.1

14. LOANS AND BORROWINGS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Loans And Borrowings |
Schedule of loans and financing |
| Charges (p.a.) |  | Average rate (1) |  | WAMT (2) |  | 12.31.19 |  | Borrowing |  | Amortization |  | Interest paid |  | Interest accrued |  | Exchange rate variation |  | 12.31.20
Local currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Working capital | Fixed / CDI |  | 3.25% (6.07% on 12.31.19) |  | 0.6 |  | 3,312,639 |  | 1,200,000 |  | (3,947,237) |  | (340,227) |  | 143,506 |  | - |  | 368,681
Certificate of agribusiness receivables (3) | CDI / IPCA |  | 10.21% (6.73% on 12.31.19) |  | 3.0 |  | 1,597,447 |  | - |  | (780,000) |  | (100,932) |  | 104,578 |  | - |  | 821,093
Development bank credit lines | Fixed / Selic / TJLP |  | (5.09% on 12.31.19) |  | - |  | 45,516 |  | - |  | (45,470) |  | (427) |  | 381 |  | - |  | -
Debentures | CDI / IPCA |  | 8.28% (7.40% on 12.31.19) |  | 7.7 |  | 755,760 |  | 2,124,725 |  | - |  | (38,339) |  | 179,859 |  | - |  | 3,022,005
Export credit facility (4) | Fixed / CDI / USD |  | 3.69% (5.83% on 12.31.19) |  | 6.8 |  | 1,612,365 |  | 1,490,809 |  | (1,113,176) |  | (111,498) |  | 152,968 |  | 377,229 |  | 2,408,697
Special program asset restructuring | IGPM |  | (12.22% on 12.31.19) |  | - |  | 284,308 |  | - |  | (287,621) |  | (5,142) |  | 8,455 |  | - |  | -
Fiscal incentives | Fixed |  | 2.40% (2.40% on 12.31.19) |  | - |  | 5,720 |  | 73,671 |  | (34,609) |  | (667) |  | 701 |  | - |  | 44,816
|  |  |  |  |  |  | 7,613,755 |  | 4,889,205 |  | (6,208,113) |  | (597,232) |  | 590,448 |  | 377,229 |  | 6,665,292
Foreign currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bonds | Fixed / USD / EUR |  | 4.81% (4.36% on 12.31.19) |  | 12.4 |  | 10,407,484 |  | 4,282,961 |  | (3,010,421) |  | (760,879) |  | 881,137 |  | 3,029,711 |  | 14,829,993
Export credit facility | Fixed / LIBOR / USD |  | 3.13% (5.77% on 12.31.19) |  | 2.2 |  | 407,275 |  | - |  | (118,113) |  | (20,686) |  | 17,627 |  | 106,533 |  | 392,636
Advances for foreign exchange rate contracts | Fixed / USD |  | - |  | - |  | - |  | 529,211 |  | (529,210) |  | - |  | - |  | (1) |  | -
Working capital | Fixed / TRY |  | 10.98% (16.56% on 12.31.19) |  | 1.2 |  | 191,765 |  | 718,956 |  | (381,502) |  | (42,742) |  | 46,704 |  | (16,676) |  | 516,505
|  |  |  |  |  |  | 11,006,524 |  | 5,531,128 |  | (4,039,246) |  | (824,307) |  | 945,468 |  | 3,119,567 |  | 15,739,134
|  |  |  |  |  |  | 18,620,279 |  | 10,420,333 |  | (10,247,359) |  | (1,421,539) |  | 1,535,916 |  | 3,496,796 |  | 22,404,426
Current |  |  |  |  |  |  | 3,132,029 |  |  |  |  |  |  |  |  |  |  |  | 1,059,984
Non-current |  |  |  |  |  |  | 15,488,250 |  |  |  |  |  |  |  |  |  |  |  | 21,344,442
(1) | Weighted average annual rate.
(2) | Weighted average maturity in years.
(3) | The Certificate of Agribusiness Receivable (“CRA”) issued by the Company are backed by receivables of BRF S.A. from certain subsidiaries abroad.
(4) | The Export Credit Facility was issued in Reais simultaneously and in connection with a foreign exchange rate swap, resulting essentially in a net cash flow in U.S. Dollars. As the transactions are inseparable, both are recorded together under Loans and Borrowings by their amortized cost.
| Charges (p.a.) |  | Average rate (1) |  | WAMT (2) |  | 12.31.18 |  | Borrowing |  | Amortization |  | Interest paid |  | Interest accrued |  | Exchange rate variation |  | 12.31.19
Local currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Working capital | Pre-fixed / CDI |  | 6.07% (7.78% on 12.31.18) |  | 1.2 |  | 5,863,023 |  | 1,193,616 |  | (3,745,967) |  | (421,600) |  | 423,567 |  | - |  | 3,312,639
Certificate of agribusiness receivables | CDI / IPCA |  | 6.73% (6.08% on 12.31.18) |  | 2.5 |  | 2,597,502 |  | - |  | (999,905) |  | (139,633) |  | 139,483 |  | - |  | 1,597,447
Development bank credit lines | Pre-fixed / Selic / TJLP |  | 5.09% (6.16% on 12.31.18) |  | 0.3 |  | 264,545 |  | - |  | (223,077) |  | (7,005) |  | 11,053 |  | - |  | 45,516
Debentures | CDI / IPCA |  | 7.90% |  | 6.2 |  | - |  | 742,250 |  | (15) |  | (16,372) |  | 29,897 |  | - |  | 755,760
Export credit facility | CDI |  | 5.83% (9.02% on 12.31.18) |  | 8.7 |  | 1,625,327 |  | (22,403) |  | (31,700) |  | (108,845) |  | 149,986 |  | - |  | 1,612,365
Special program asset restructuring | IGPM |  | 12.22% (12.45% on 12.31.18) |  | 0.2 |  | 273,426 |  | - |  | - |  | (8,554) |  | 19,436 |  | - |  | 284,308
Fiscal incentives | Pre-fixed |  | 2.40% (2.40% on 12.31.18) |  | - |  | 3,317 |  | 70,203 |  | (67,805) |  | (570) |  | 575 |  | - |  | 5,720
|  |  |  |  |  |  | 10,627,140 |  | 1,983,666 |  | (5,068,469) |  | (702,579) |  | 773,997 |  | - |  | 7,613,755
Foreign currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bonds | Pre-Fixed + e.r. USD and EUR |  | 4.36% (4.07% on 12.31.18) |  | 6.0 |  | 9,746,446 |  | 3,082,040 |  | (2,906,635) |  | (504,774) |  | 648,991 |  | 341,416 |  | 10,407,484
Export credit facility | LIBOR + e.r. USD |  | 5.54% (2.47% on 12.31.18) |  | 3.2 |  | 1,383,192 |  | - |  | (948,646) |  | (31,277) |  | 28,937 |  | (24,931) |  | 407,275
|  |  |  |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |
Advances for foreign exchange rate contracts | Pre-Fixed + e.r. USD |  | (4.67% on 12.31.18) |  | - |  | 214,192 |  | 92,750 |  | (327,469) |  | (10,249) |  | 12,831 |  | 17,945 |  | -
Working capital | Pre-Fixed + e.r. TRY |  | 16.56% (21.91% on 12.31.18) |  | 1.1 |  | 194,474 |  | 240,702 |  | (229,919) |  | (41,974) |  | 42,237 |  | (13,755) |  | 191,765
|  |  |  |  |  |  | 11,538,304 |  | 3,415,492 |  | (4,412,669) |  | (588,274) |  | 732,996 |  | 320,675 |  | 11,006,524
|  |  |  |  |  |  | 22,165,444 |  | 5,399,158 |  | (9,481,138) |  | (1,290,853) |  | 1,506,993 |  | 320,675 |  | 18,620,279
Current |  |  |  |  |  |  | 4,547,389 |  |  |  |  |  |  |  |  |  |  |  | 3,132,029
Non-current |  |  |  |  |  |  | 17,618,055 |  |  |  |  |  |  |  |  |  |  |  | 15,488,250
| (1) | Weighted average annual rate.
| (2) | Weighted average maturity in years.
Schedule of loans and financing | The Debentures were privately placed with VERT Companhia Securitizadora, to back its forty-sixth issuance of Agribusiness Receivables Certificates, in two series, which were object of public distribution with restricted placement efforts.
12.31.20
Operation |  | Series |  | Issue date |  | Maturity |  | Rate |  | Notional |  | Updated Value
Debenture - 2nd Issue |  | 1st Series |  | 07.14.20 |  | 07.14.27 |  | IPCA + 5.30% p.a. |  | 705,000 |  | 724,110
Debenture - 2nd Issue |  | 2nd Series |  | 07.14.20 |  | 07.12.30 |  | IPCA + 5.60% p.a. |  | 1,495,000 |  | 1,526,757
|  |  |  |  |  |  |  |  |  | 2,200,000 |  | 2,250,867
Schedule of maturity | The repurchases reached the cap and were fully settled by September 28, 2020 and its results are presented in the table below:
Instrument |  | Currency |  | Maturity |  | Notional repurchased |  | Outstanding notional (1)
|  |  | (loan currency) |  | (Reais) (2) |  | (loan currency) |  | (Reais) (3)
BRF S.A. - BRFSBZ 2 3/4 |  | EUR |  | June 3, 2022 |  | 158,109 |  | 977,194 |  | 166,672 |  | 1,063,017
BRF S.A. - BRFSBZ 5 7/8 (4) |  | USD |  | June 6, 2022 |  | 38,384 |  | 203,452 |  | 70,928 |  | 368,592
BRF S.A. - BRFSBZ 3.95 |  | USD |  | May 22, 2023 |  | 111,956 |  | 600,585 |  | 234,033 |  | 1,216,199
BRF S.A. - BRFSBZ 4 3/4 |  | USD |  | May 22, 2024 |  | 222,495 |  | 1,214,329 |  | 295,363 |  | 1,534,913
BRF GmbH - BRFSBZ 4.35 |  | USD |  | Sep 29, 2026 |  | 718 |  | 3,932 |  | 499,282 |  | 2,594,619
| (1) | Outstanding notional after the tender offer.
| (2) | Represented by the amount in the original loan currency, translated by the foreign exchange rate at the settlement date of the repurchase.
| (3) | Represented by the amount in the original loan currency, translated by the foreign exchange rate at the settlement date 12.31.20.
| (4) | Loan fully designated as hedge accounting (note 23.4.2.ii). The exchange rate variation between the designation date and the settlement date of the repurchased portion will remain in Other Comprehensive Income until the realization of the highly probable sales (hedge object).
Schedule of guarantees | The maturity schedule of the loans and borrowings is as follows:
| 12.31.20
Current | 1,059,984
Non-current | 21,344,442
2022 | 2,114,622
2023 | 2,569,063
2024 | 1,782,687
2025 | 599,266
2026 onwards | 14,278,804
| 22,404,426
Schedule of commitments for purchases of goods and services |
| 12.31.20 |  | 12.31.19
Total loans and borrowings | 22,404,426 |  | 18,620,279
Mortgage guarantees | 44,816 |  | 51,237
Related to FINEM-BNDES | - |  | 45,516
Related to tax incentives and other | 44,816 |  | 5,721

X
- Definition Tabular disclosure of detailed information about borrowing explanatory. + References No definition available. + Details
Name: | brf_DisclosureOfDetailedInformationAboutBorrowingExplanatory
Namespace Prefix: | brf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about commitments for purchases of goods and services. + References No definition available. + Details
Name: | brf_DisclosureOfDetailedInformationAboutCommitmentsForPurchasesOfGoodsAndServicesExplanatory
Namespace Prefix: | brf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about guarantees. + References No definition available. + Details
Name: | brf_DisclosureOfDetailedInformationAboutGuaranteesExplanatory
Namespace Prefix: | brf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | brf_DisclosureOfLoansAndFinancingAbstract
Namespace Prefix: | brf_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity explanatory. + References No definition available. + Details
Name: | brf_DisclosureOfMaturityExplanatory
Namespace Prefix: | brf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 7 -IssueDate 2020-01-01 -Paragraph 7 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2020-en-r&anchor=para_7&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration