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LEASES (Tables)
 9 Months Ended
Sep. 30, 2021
The right-of-use assets as set forth below are part of the balances of property, plant and equipment and intangible assets (notes 12 and 13)

The right-of-use assets as set forth below are part of the balances of property, plant and equipment and intangible assets (notes 12 and 13).

   
                               
  Average rate (1)   12.31.20   Additions   Disposals   Transfers   Business combination (note 1.2)   Exchange rate variation   09.30.21
Cost                              
Land      48,661   3,761   (1,845)   89,060   -    3,361   142,998
Buildings      2,861,916   397,918    (48,583)    (89,060)    4,736    4,897     3,131,824
Machinery and equipment      112,593   98,353    (98,660)    -   3,346   364   115,996
Vehicles      344,918   46,309    (23,112)    -     925    6,622   375,662
Software      74,582   5,213    (64)    -   -   -    79,731
       3,442,670   551,554    (172,264)    -   9,007    15,244    3,846,211
                               
Depreciation                              
Land 8.76%   (13,526)   (8,906)    995    (11,335)   -    (430)   (33,202)
Buildings 25.13%   (914,816)    (429,368)   37,712   11,335     -   (4,418)     (1,299,555)
Machinery and equipment 53.81%   (107,316)    (47,102)   98,415    -     -    (283)   (56,286)
Vehicles 27.86%   (101,495)    (76,969)   11,807    -     -   (3,357)   (170,014)
Software 42.22%   (33,048)    (21,216)   64    -   -   -   (54,200)
       (1,170,201)    (583,561)   148,993    -    -   (8,488)   (1,613,257)
       2,272,469    (32,007)    (23,271)    -    9,007    6,756    2,232,954

 

(1)Weighted average annual rate.

 

   
  Average rate (1)   12.31.19   Additions   Disposals Transfers     Exchange rate variation   12.31.20
Cost                          
Land      22,790   5,900    (961) 20,751     181     48,661
Buildings       2,615,883     287,451   (86,557)  (2,487)      47,626    2,861,916
Machinery and equipment       115,173   5,518    (8,289) -     191    112,593
Vehicles       207,443     165,699   (54,260) -      26,036    344,918
Software      55,705    72,766   (35,625)   (18,264)      -     74,582
        3,016,994     537,334    (185,692) -      74,034    3,442,670
                           
Depreciation                          
Land 16.32%    (5,086)    (6,861)   813  (1,799)      (593)    (13,526)
Buildings 29.11%    (512,836)    (464,159)    85,042  (6,765)     (16,098)     (914,816)
Machinery and equipment 42.48%   (96,958)   (17,865)   7,610 -      (103)     (107,316)
Vehicles 26.39%   (57,357)   (71,768)    41,024 -     (13,394)     (101,495)
Software 45.21%   (44,815)   (32,422)    35,625   8,564      -    (33,048)
       (717,052)    (593,075)     170,114 -     (30,188)     (1,170,201)
        2,299,942   (55,741)   (15,578) -      43,846    2,272,469

 

(1)Weighted average annual rate.
Schedule of lease liabilities

                                           
  WAM (1)   12.31.20   Additions   Payments   Interest paid   Interest accrued   Disposals   Transfers   Business combination (note 1.2)   Exchange rate variation   09.30.21
Land 4.6   37,868   3,761   (5,256)   (6,360)   6,360    (970)    82,851    -    7,252   125,506
Buildings 1.9    2,195,407   397,918    (402,354)   (84,086)   133,023   (16,994)   (82,851)   6,557   (22,587)    2,124,033
Machinery and equipment 0.9    3,773   98,353   (45,352)   (2,783)   2,783    (34)   -   3,703   97   60,540
Vehicles 1.8   256,423   46,309   (74,416)   (13,893)   13,893   (1,574)   -    886   (9,387)   218,241
Software 1.5   43,210   5,213   (21,533)   (1,906)   1,906    -   -       -   26,890
       2,536,681   551,554    (548,911)   (109,028)   157,965   (19,572)   -   11,146   (24,625)    2,555,210
                                           
Current     383,162                                   485,905
Non-current      2,153,519                                    2,069,305

 

(1)Weighted average maturity in years.

  

                                       
  WAM (1)   12.31.19   Additions   Payments   Interest paid   Interest accrued   Disposals   Transfers   Exchange rate variation   12.31.20
Land  4.7    20,355     5,900    (5,819)     (4,716)   4,716   (1,729)   18,811   350    37,868
Buildings  3.4     2,227,026    310,204    (425,594)   (99,426)     170,763   (762)    (18,238)     31,434     2,195,407
Machinery and equipment  1.8    25,687     5,518     (26,776)   (13,285)    13,285   (755)     8     91     3,773
Vehicles  2.2     156,975    165,699     (64,674)   (15,231)    15,231    (14,155)   (581)     13,159     256,423
Software  1.6     1,137   72,767     (30,693)     (3,967)   3,966   -   -    -    43,210
        2,431,180    560,088    (553,556)    (136,625)     207,961    (17,401)   -     45,034     2,536,681
                                       
Current       376,628                                 383,162
Non-current       2,054,552                                 2,153,519

 

(1)Weighted average maturity in years.
The maturity schedule of the minimum required future payments are presented below

The maturity schedule of the minimum required future payments are presented below:

 

       
      09.30.21
Current      485,905
Non-current      2,069,305
October to December 2022      132,751
2023      444,474
2024      326,767
2025      234,653
2026 onwards      930,660
       2,555,210
The Company uses nominal incremental borrowing rates to measure its lease liabilities. The nominal and real interest rates are presented below:

The Company uses nominal incremental borrowing rates to measure its lease liabilities. The nominal and real interest rates are presented below:

 

 

                 
    09.30.21   12.31.20
Contract Terms   Nominal rate % p.a.   Real rate % p.a.   Nominal rate % p.a.   Real rate % p.a.
1 year   4.92%   0.43%   5.69%   1.05%
2 years   4.81%   0.49%   5.96%   2.61%
3 years   6.31%   2.14%   6.80%   2.53%
4 years   7.15%   2.90%   8.50%   4.56%
5 years   9.69%   4.85%   8.98%   4.40%
6 years   10.61%   5.15%   -   -
7 years   10.96%   5.74%   -   -
8 years   -   -   10.47%   5.71%
9 years   -   -   10.75%   5.97%
10 years   -   -   11.39%   6.64%
12 years   9.85%   5.55%   -   -
13 years   -   -   11.68%   7.38%
14 years   -   -   11.84%   7.13%
16 years   12.44%   6.70%   -   -
20 years   12.95%   7.07%   13.26%   9.00%
The amounts directly recognized in the statement of income presented below relate to items exempt of recognition: low-value assets, short-term leases and leases with variable payments.

The amounts directly recognized in the statement of income presented below relate to items exempt of recognition: low-value assets, short-term leases and leases with variable payments.

                 
        2021
            Jul - Sep   Jan - Sep
Variable payments not included in the lease liabilities           74,078    226,488
Expenses related to short-term leases           42,833    134,928
Expenses related to low-value assets           1,432    2,887
Amounts recognized in the statement of income           118,343    364,303