v3.25.2
Loans, borrowings, cash and cash equivalents and short-term investments (Tables)
 6 Months Ended
Jun. 30, 2025
Notes and other explanatory information [abstract]  
Schedule of net debt
     
  Notes June 30, 2025 December 31, 2024
Loans and borrowings   17,146 14,792
Leases 22(b) 699 713
Gross debt   17,845 15,505
       
(-) Cash and cash equivalentes   5,514 4,953
(-) Short-term investments (i)   182 53
Net debt   12,149 10,499

 

(i) Substantially comprises investments in senior notes and exclusive investment fund, which portfolio is made by committed transactions and certificate of deposits (“CDB”).
Schedule of cash and cash equivalents
   
  June 30, 2025 December 31, 2024
R$ 2,017 1,709
US$ 3,327 3,048
Other currencies 170 196
Total 5,514 4,953
Schedule of total debt
         
    Current liabilities Non-current liabilities
  Average interest rate (i) June 30, 2025 December 31, 2024 June 30, 2025 December 31, 2024
Quoted in the secondary market:          
US$ Bonds 6.05% – – 7,607 7,187
R$ Debentures 7.06% 57 68 2,291 1,191
Debt contracts in Brazil in (ii):          
R$, indexed to TJLP, TR, IPCA, IGP-M and CDI 9.96% 44 41 112 143
Basket of currencies and bonds in US$ indexed to SOFR 6.03% – – 150 150
Debt contracts in the international market in:          
US$, with variable and fixed interest 5.48% 400 716 6,249 5,042
Other currencies, with fixed interest 4.83% 12 11 43 50
Other currencies, with variable interest 3.80% – – 9 9
Accrued charges   172 184 – –
Total   685 1,020 16,461 13,772

 

(i) In order to determine the average interest rate for debt contracts with floating rates, the Company used the rate applicable as of June 30, 2025.

(ii) The Company entered into derivatives to mitigate the exposure to cash flow variations of all floating rate debt contracted in Brazil, resulting in an average cost of 3.21% per year in US$.
Schedule of reconciliation of debt to cash flows arising from financing activities
   
  Principal

Estimated future

interest payments (i)

 

2025 513 494
2026 135 977
2027 1,690 912
2028 941 860
From 2029 to 2031 4,875 2,055
2032 onwards 8,820 4,498
Total 16,974 9,796

 

(i) Based on interest rate curves and foreign exchange rates applicable as of June 30, 2025 and considering that the payments of principal will be made on their contracted payments dates. The amount includes the estimated interest not yet accrued and the interest already recognized in the annual financial statements.