XML 85 R61.htm IDEA: XBRL DOCUMENT v3.23.1
EMPLOYEES BENEFITS PLANS (Tables)
 12 Months Ended
Dec. 31, 2022
Employees Benefits Plans  
Schedule of assets and actuarial liabilities
             
   
               
  FAF   Plan II
  12.31.22   12.31.21   12.31.22   12.31.21
Composition of actuarial assets and liabilities              
Present value of actuarial liabilities  3,121,348    3,340,497     20,822     23,981
Fair value of assets   (3,603,611)     (3,547,727)    (22,745)    (22,298)
(Surplus) Deficit   (482,263)     (207,230)   (1,923)    1,683
Irrecoverable surplus - (asset ceiling) 482,263   207,230    1,923     -
Net actuarial (assets) liabilities   -     -     -    1,683
               
Rollforward of irrecoverable surplus              
Beginning balance of irrecoverable surplus 207,230   175,981     -    167
Interest on irrecoverable surplus   18,152     13,181     -   12
Changes in irrecoverable surplus during the year 256,881     18,068    1,923     (179)
Ending balance of irrecoverable surplus 482,263   207,230    1,923     -
               
Rollforward of present value of actuarial liabilities              
Beginning balance of the present value of liabilities  3,340,497    3,377,234     23,981     23,256
Interest on actuarial obligations 283,241   246,073    1,997    1,627
Current service cost   23,189     26,741     -     -
Past service cost - plan changes  (32,526)     -     (546)     -
Benefit paid   (213,804)     (169,962)   (1,838)   (1,712)
Actuarial losses - experience  (36,292)   325,778   (1,358)    4,278
Actuarial losses - hypothesis   (242,957)     (465,367)   (1,414)   (3,468)
Ending balance of actuarial liabilities  3,121,348    3,340,497     20,822     23,981
               
Rollforward of the fair value of the assets              
Beginning balance of the fair value of plan assets   (3,547,727)     (3,553,215)    (22,298)    (24,170)
Interest income on assets plan   (301,394)     (259,254)   (1,851)   (1,694)
Benefit paid 213,804   169,962    1,838    1,712
Return on assets higher (lower) than projection   31,706     94,780     (434)    1,854
Ending Balance of the fair value of the assets   (3,603,611)     (3,547,727)    (22,745)    (22,298)
               
Rollforward of comprehensive income              
Beginning balance   26,741     37,883   (2,485)   (2,734)
Reversion to accumulated losses  (26,741)    (37,883)    2,485    2,734
Actuarial gains (losses) 311,776   139,589    2,772     (810)
Return on assets higher (lower) than projection  (31,705)    (94,780)    434   (1,854)
Changes on irrecoverable surplus   (256,881)    (18,068)    179    179
Ending balance of comprehensive income   23,190     26,741    3,385   (2,485)
               
Costs recognized in statement of income              
Current service costs  (23,190)    (26,741)     -     -
Interest on actuarial obligations   (283,241)     (246,073)   (1,997)   (1,627)
Projected return on assets 301,394   259,254    1,851    1,694
Interest on irrecoverable surplus  (18,153)    (13,181)     -    (12)
Costs recognized in statement of income  (23,190)    (26,741)     (146)   55
               
Estimated costs for the next year              
Costs of defined benefit  (18,153)    (23,190)     -     -
Estimated costs for the next year  (18,153)    (23,190)     -     -
Schedule of actuarial assumptions and demographic data
             
               
  FAF   Plan II
  12.31.22   12.31.21   12.31.22   12.31.21
Actuarial assumptions              
Economic hypothesis              
Discount rate 9.75%   8.76%   9.73%   8.68%
Inflation rate 3.50%   3.25%   3.50%   3.25%
Wage growth rate 4.60%   4.34%   N/A   N/A
Demographic hypothesis              
Mortality schedule AT-2000 Basic, by gender   AT-2000 smoothed by 10%   AT-2000 Basic, by gender   AT-2000 smoothed by 10%
Mortality schedule - Disabled CSO-58   CSO-58   CSO-58   CSO-58
Demographic data              
Number of active participants 5,669   6,054     -     -
Number of beneficiary participants assisted  7,884   7,565   51   52
The composition of the investment portfolios is presented below:
                               
    FAF   Plan II
    12.31.22   12.31.21   12.31.22   12.31.21
Composition of the fund's portfolio                                
Fixed income     2,385,591   66.2%   2,308,861   65.1%    19,969   87.8%     19,386   86.9%
Variable income     421,622   11.7%     517,259   14.6%   1,115   4.9%    1,106   5.0%
Real estate     342,343   9.5%     334,905   9.4%    23   0.1%   20   0.1%
Structured investments     454,055   12.6%     321,779   9.1%   1,638   7.2%    1,527   6.8%
Foreign    -   -    45,411   1.3%     -   -    259   1.2%
Transactions with participants    -   -    19,512   0.5%     -   -   -    - 
      3,603,611   100.0%   3,547,727   100.0%    22,745   100.0%     22,298   100.0%
% of nominal return on assets   8.50%       7.49%       8.30%       7.25%    
The following amounts represent the expected benefit payments for future periods and the average duration of the plan’s obligations
     
  FAF   Plan II
2023 227,705    1,869
2024 226,703    1,853
2025 226,168    1,835
2026 225,999    1,814
2027 226,916    1,789
2028 to 2032  1,147,585    8,437
Weighted average duration - in years  10.95   8.90
Schedule of quantitative sensitivity analysis regarding relevant assumptions of defined benefit plan
                   
    Assumptions utilized   Variation of (+1%)   Variation of (-1%)
Relevant assumptions     Average rate   Actuarial liabilities   Average rate   Actuarial liabilities
Benefit plan - FAF                    
Discount rate   9.75%   10.75%     3,475,721   8.75%     2,826,339
Wage growth rate (1)   1.06%   2.06%     3,179,369   0.06%     3,072,449
(1)Actual rate.
Schedule of employee benefits
     
   
  Liabilities
  12.31.22   12.31.21
Medical assistance 119,729   195,345
F.G.T.S. Penalty (1)   60,657     53,881
Award for length of service 112,225     98,474
Other 228,701   204,885
  521,312   552,585
       
Current   64,367     54,354
Non-current 456,945   498,231
(1)FGTS – Government Severance Indemnity Fund for Employees
Schedule of liabilities related to other benefits
                               
                                 
    Medical plan   F.G.T.S. penalty   Award for length of service   Other (1)
    12.31.22   12.31.21   12.31.22   12.31.21   12.31.22   12.31.21   12.31.22   12.31.21
Composition of actuarial liabilities                                
Present value of actuarial liabilities   119,729   195,345     60,657     53,881   112,225     98,474   228,700   203,202
Net actuarial liabilities   119,729   195,345     60,657     53,881   112,225     98,474   228,700   203,202
                                 
Rollforward of present value of actuarial liabilities                                
Beginning balance of present value of actuarial liabilities   195,345   185,802     53,881   282,229     98,474   108,908   203,202   199,616
Interest on actuarial liabilities     16,805     13,694    4,071     15,711    7,997    6,656     15,388     10,377
Current service costs    678     -    2,480     14,833    5,221    6,319     22,804     23,375
Past service costs (2)     -     40,800     -     (135,180)     -     -     -     15,847
Benefits paid directly by the Company     (8,811)     (9,008)    (11,482)     (6,173)    (14,542)    (15,163)    (26,633)    (19,739)
Business combination     -    2,081     -     -     -     -     -    286
Actuarial (gains) losses - experience    (55,928)     (6,892)     13,589    991     17,357     10,853     15,764    9,289
Actuarial (gains) losses - demographic hypothesis    (12,325)     (6,403)    2,237    (91,531)    1,935     (7,125)    1,623    (13,165)
Actuarial (gains) losses - economic hypothesis    (16,035)    (24,729)     (4,119)    (26,999)     (4,217)    (11,974)     19,775    (11,396)
Actuarial (gains) losses - exchange variation     -     -     -     -     -     -    (23,223)    (11,288)
Ending balance of liabilities   119,729   195,345     60,657     53,881   112,225     98,474   228,700   203,202
                                 
Rollforward of the fair value of the assets                                
Benefits paid directly by the Company    8,811    9,008     11,482    6,173     14,542     15,163     26,633     19,739
Contributions of the sponsor     (8,811)     (9,008)    (11,482)     (6,173)    (14,542)    (15,163)    (26,633)    (19,739)
Ending Balance of the fair value of the assets     -     -     -     -     -     -     -     -
                                 
Rollforward of comprehensive income                                
Beginning balance    (34,720)    (72,744)    6,636     (110,903)     -     -    (84,050)     (102,324)
Actuarial gains (losses)     84,288     38,024    (11,707)   117,539     -     -    (37,162)     15,272
Exchange variation      -     -     -     -     -     -     37,204    3,002
Ending balance of comprehensive income     49,568    (34,720)     (5,071)    6,636     -     -    (84,008)    (84,050)
                                 
Costs recognized in statement of income                                
Interest on actuarial liabilities    (16,805)    (13,694)     (4,071)    (15,711)     (7,997)     (6,656)    (15,388)    (10,377)
Current service costs     (678)     -     (2,480)    (14,833)     (5,221)     (6,319)    (22,804)    (23,375)
Past service costs (2)     -    (40,800)     -   135,180     -     -     -    (15,847)
Immediate recognition of reduction     -     -     -     -    (15,075)    8,246     -     -
Cost recognized in statement of income    (17,483)    (54,494)     (6,551)   104,636    (28,293)     (4,729)    (38,192)    (49,599)
                                 
Estimated costs for the next year                                
Current service costs    508     (551)    2,669     (2,480)    5,707     (5,221)    (22,804)    (20,720)
Interest on actuarial liabilities     11,434    (16,805)    5,052     (4,071)     10,104     (7,997)    (15,388)    (12,646)
Estimated costs for the next year     11,942    (17,356)    7,721     (6,551)     15,811    (13,218)    (38,192)    (33,366)
(1)Considers the sum of the retirement compensation, life insurance benefits and compensation for time of service granted in certain subsidiaries of Company.
(2)Refers to addition of medical plan managed by BRF S.A. and change in the internal policy for FGTS penalty.
The main actuarial assumptions and demographic data
                       
 
     
    Medical plan   F.G.T.S. penalty   Other (1)
Actuarial assumptions   12.31.22   12.31.21   12.31.22   12.31.21   12.31.22   12.31.21
Economic hypothesis                        
Discount rate   9.73%   8.75%   9.66%   8.62%   8.71%   7.11%
Inflation rate   3.50%   3.25%   3.50%   3.25%   4.88%   9.04%
Medical inflation   6.60%   6.35%   N/A   N/A   N/A   N/A
Wage growth rate   N/A   N/A   3.50%   3.25%   4.88%   9.04%
F.G.T.S. balance growth   N/A   N/A   3.70%   3.70%   N/A   N/A
Demographic hypothesis                        
Mortality schedule    AT-2000 Basic     AT-2000 smoothed by 10%     AT-2000 Basic     AT-2000 smoothed by 10%         
Disability entry schedule    N/A     N/A     Vindas Álvaro's attenuated 30%     RRB-44         
Schedule of turnover - BRF's historical   2022   2021   2022   2021        
Demoraphic data                        
Number of active participants     13,776     14,584   91,490     96,635        
Number of assisted beneficiary participants   1,610   1,686    -     -        
(1)Includes retirement compensation and life insurance benefits.
Schedule of future payments
                   
Payments   Medical plan   F.G.T.S. penalty   Award for length of service   Other   Total
                     
2023   4,650   16,723   15,254   27,740   64,367
2024   5,157   4,552   16,485   17,807   44,001
2025   5,687   4,933   14,363   18,858   43,841
2026   6,282   5,666   13,658   19,145   44,751
2027   6,919   5,992   12,324   20,237   45,472
2028 to 2032   44,451   37,766   62,940   131,600   276,757
Weighted average duration - in years   17.16   5.68   5.27   9.28   8.35
Schedule of sensitivity analysis of post-employment plans
                   
    Assumptions utilized   (+) Variation   (-) Variation
Relevant assumptions     Average (%)   Actuarial liabilities    Average (%)   Actuarial liabilities 
Medical plan                    
Discount rate   9.74%   10.74%     102,879   8.74%     141,159
Medical inflation   6.60%   7.60%     141,105   5.60%     102,687
F.G.T.S. penalty                    
Discount rate   9.66%   10.66%    57,668   8.66%    64,023
Wage growth rate   3.50%   4.50%    54,466   2.50%    53,345
Turnover   Historical   +3%    44,883   -3%    66,993