v3.25.2
Financial assets and liabilities
 6 Months Ended
Jun. 30, 2025
Notes and other explanatory information [abstract]  
Financial assets and liabilities

19. Financial assets and liabilities

a)Classification

The Company classifies its financial instruments in accordance with the purpose for which they were acquired, and determines the classification and initial recognition according to the following categories:

                 
    June 30, 2025 December 31, 2024
Financial assets Notes Amortized cost At fair value through OCI At fair value through profit or loss Total Amortized cost At fair value through OCI At fair value through profit or loss Total
Current                  
Cash and cash equivalents 21 5,514 – – 5,514 4,953 – – 4,953
Short-term investments 21 – – 182 182 – – 53 53
Derivative financial instruments 18 – – 419 419 – – 53 53
Accounts receivable 10 285 – 2,040 2,325 374 – 1,984 2,358
    5,799 – 2,641 8,440 5,327 – 2,090 7,417
Non-current         –        
Judicial deposits 26(c) 598 – – 598 537 – – 537
Restricted cash 13 9 – – 9 13 – – 13
Derivative financial instruments 18 – – 284 284 – – 15 15
Investments in equity securities 13 – 57 – 57 – 54 – 54
    607 57 284 948 550 54 15 619
Total of financial assets   6,406 57 2,925 9,388 5,877 54 2,105 8,036
                   
Financial liabilities                  
Current                  
Suppliers and contractors 12 5,454 – – 5,454 4,234 – – 4,234
Derivative financial instruments 18 – – 116 116 – – 197 197
Loans and borrowings 21 685 – – 685 1,020 – – 1,020
Leases 22 175 – – 175 147 – – 147
Liabilities related to the concession grants 13(a) 539 – – 539 467 – – 467
Other financial liabilities - Related parties 29 193 – – 193 291 – – 291
Other financial obligations 13 197 – – 197 317 – – 317
    7,243 – 116 7,359 6,476 – 197 6,673
Non-current                  
Derivative financial instruments 18 – – 112 112 – – 428 428
Loans and borrowings 21 16,461 – – 16,461 13,772 – – 13,772
Leases 22 524 – – 524 566 – – 566
Participative shareholders' debentures 20 – – 2,454 2,454 – – 2,217 2,217
Liabilities related to the concession grants 13(a) 2,092 – – 2,092 1,887 – – 1,887
Other financial obligations

13

 – – – – 32 – – 32
    19,077 – 2,566 21,643 16,257 – 2,645 18,902
Total of financial liabilities   26,320 – 2,682 29,002 22,733 – 2,842 25,575
                   

 

b) Hierarchy of fair value

                 
    June 30, 2025 December 31, 2024
  Notes Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
Financial assets                  
Short-term investments 21 33 149 – 182 53 – – 53
Derivative financial instruments 18 – 703 – 703 – 68 – 68
Accounts receivable 10 – 2,040 – 2,040 – 1,984 – 1,984
Investments in equity securities 13 – 57 – 57 – 54 – 54
    33 2,949 – 2,982 53 2,106 – 2,159
                   
Financial liabilities                  
Derivative financial instruments 18 – 228 – 228 – 625 – 625
Participative shareholders' debentures 20 – 2,454 – 2,454 – 2,217 – 2,217
    – 2,682 – 2,682 – 2,842 – 2,842

There were no transfers between levels 1, 2 and 3 of the fair value hierarchy during the period presented.

c) Fair value of loans and borrowings

       
  June 30, 2025 December 31, 2024
  Carrying amount Fair value Carrying amount Fair value
Quoted in the secondary market:        
Bonds 7,683 7,725 7,267 7,245
Debentures 2,368 2,347 1,272 1,275
Debt contracts in Brazil in:        
R$, indexed to TJLP, TR, IPCA, IGP-M and CDI 156 156 185 185
Basket of currencies and bonds in US$ indexed to SOFR 152 160 152 155
Debt contracts in the international market in:        
US$, with variable and fixed interest 6,722 7,014 5,844 5,922
Other currencies, with fixed interest 56 58 63 64
Other currencies, with variable interest 9 8 9 8
Total 17,146 17,468 14,792 14,854