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27. FINANCIAL INCOME (EXPENSES), NET
 12 Months Ended
Dec. 31, 2020
Financial Income Expenses Net  
FINANCIAL INCOME (EXPENSES), NET
27. FINANCIAL INCOME (EXPENSES), NET
               
  Note   12.31.20    12.31.19 (1)     12.31.18(1) 
Financial income     420,757    1,304,187   869,534
Interest on cash and cash equivalents 4   119,068   145,193   160,015
Income with marketable securities 5   54,094   115,130   113,845
Fair value throught other comprehensive income     538   630   651
Fair value throught profit and loss     8,771   21,065   14,544
Amortized cost     44,785   93,435   98,650
Interest on recoverable taxes (2) 9   205,066    1,027,835   421,280
Interest on other assets     42,529   16,029   174,394
Financial expenses     (1,889,454)   (3,096,716)   (2,130,194)
Interests on loans and borrowings 14   (1,545,825)   (1,516,677)   (1,281,766)
Interest on contingencies (3) 20   (42,641)    (574,432)   (46,237)
Interest on leases 17    (207,598)    (199,276)   (41,464)
Interest on actuarial liabilities     (33,549)   (49,900)    -
Interest on other liabilities     11,412   (2,447)   (23,175)
Written option - Business combination (4)     579,946    (189,816)    (109,473)
Adjustment to present value 6 and 15    (418,234)    (305,190)    (277,371)
Other      (232,965)    (258,978)    (350,708)
Monetary, exchange and derivative results, net      (230,298)   (72,870)    (980,814)
Exchange rate variation on monetary assets and liabilities     (1,179,236)   100,480    (768,145)
Derivative results     948,938    (173,350)    (212,669)
               
      (1,698,995)   (1,865,399)   (2,241,474)

 

  (1) Due to the significant increase in the effects of exchange variations and results of derivatives in 2020, the Company begun to group such results in a line item separate from other financial income and expenses. Therefore, the comparative period was restated for comparability.
  (2) The following effects are included: the final decision related to the exclusion of ICMS from the PIS and COFINS calculation basis from Eleva in the amount of R$58,979 for the year ended on December 31, 2020 (R$893,224 for the year ended on December 31, 2019 related to Sadia and BRF cases).
  (3) For the year ended on December 31, 2019, the effect includes the tax contingency on ICMS credit in the basic food basket products of R$390,242.
  (4) Refers to the measurement of the written option recorded from business combination (note 23.8.1). The behavior of the results of the economic group of the referred subsidiary resulted in a reduction of the liability with the corresponding increase in financial results in the year ended on December 31, 2020.