v3.26.1
Supplemental Financial Information - Schedule of Consolidated Statements of Financial Position (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
May 23, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS          
Cash and cash equivalents $ 4,565,136   $ 5,613,672 $ 4,569,517 $ 2,526,431
Margin cash 159,562   136,554    
Trade accounts receivable 4,231,924   3,735,540    
Dividends receivable 1,465      
Inventories 6,107,165   5,015,989    
Biological assets 1,826,766   1,608,223 1,712,153 1,861,106
Recoverable taxes 957,211   637,728    
Derivative assets 155,602   84,468    
Other current assets 433,372   288,842    
TOTAL CURRENT ASSETS 18,438,203   17,121,016    
NON-CURRENT ASSETS          
Long-term investments 45,780      
Recoverable taxes 1,874,572   1,412,455    
Biological assets 611,799   518,234 531,477 501,958
Related party receivables 41,231   77,355    
Deferred income taxes 547,014   651,178    
Other non-current assets 488,803   268,737    
TOTAL OTHER NON-CURRENT ASSETS 3,609,199   2,927,959    
Investments in equity-accounted investees 171,612   38,312 56,601 56,506
Property, plant and equipment 13,645,658   11,780,880 12,918,249 11,915,363
Right of use assets 1,613,647   1,596,873 1,705,710 1,605,093
Intangible assets 1,825,592   1,803,199 1,985,595 1,979,491
Goodwill 5,852,575   5,417,134    
TOTAL NON-CURRENT ASSETS 26,718,283   23,564,357    
TOTAL ASSETS 45,156,486   40,685,373    
CURRENT LIABILITIES          
Trade accounts payable 6,198,100   5,465,513    
Supply chain finance 1,134,459   728,710    
Loans and financing 833,085   2,084,225    
Income taxes 288,030   233,027    
Other taxes payable 152,959   113,734    
Payroll and social charges 1,560,159   1,435,751    
Lease liabilities 354,887   335,681    
Dividends payable   358,621    
Provisions for legal proceedings 159,217   280,804    
Derivative liabilities 156,405   165,979    
Other current liabilities 704,509   455,020    
TOTAL CURRENT LIABILITIES 11,541,810   11,657,065    
NON-CURRENT LIABILITIES          
Loans and financing 20,257,483   17,242,571    
Income and other taxes payable 407,727   406,655    
Payroll and social charges 288,065   352,718    
Lease liabilities 1,412,398   1,398,348    
Deferred income taxes 1,169,300   1,095,291    
Provisions for legal proceedings 209,358   216,659    
Related party payable 190,998      
Derivative liabilities 114,376   100,087    
Other non-current liabilities 42,180   81,615    
TOTAL NON-CURRENT LIABILITIES 24,091,885   20,893,944    
EQUITY          
Share capital - common shares 35,114   13,177,841    
Reserves [1] 6,582,694   (6,083,376)    
Undistributed results 2,085,772      
Attributable to company shareholders 8,703,580   7,094,465    
Attributable to non-controlling interest 819,211   1,039,899    
TOTAL EQUITY 9,522,791 $ (5,417,642) 8,134,364 $ 9,707,786 $ 9,546,146
TOTAL LIABILITIES AND EQUITY 45,156,486   40,685,373    
Restricted subsidiaries [Member] | Parent Company [Member]          
CURRENT ASSETS          
Cash and cash equivalents 3,921,730   3,572,757    
Margin cash 159,048   133,717    
Trade accounts receivable 3,055,286   2,733,160    
Dividends receivable 1,465      
Inventories 4,949,488   4,014,172    
Biological assets 1,288,243   1,125,803    
Recoverable taxes 721,761   484,047    
Derivative assets 140,971   77,114    
Other current assets 242,811   188,330    
TOTAL CURRENT ASSETS 14,480,803   12,329,100    
NON-CURRENT ASSETS          
Long-term investments 45,780      
Recoverable taxes 1,874,572   1,412,455    
Biological assets 256,583   201,814    
Related party receivables 41,231   77,355    
Deferred income taxes 516,308   614,635    
Other non-current assets 378,828   209,937    
TOTAL OTHER NON-CURRENT ASSETS 3,113,302   2,516,196    
Investments in equity-accounted investees 3,198,779   3,530,098    
Property, plant and equipment 10,077,519   8,605,655    
Right of use assets 1,370,826   1,355,361    
Intangible assets 942,690   940,212    
Goodwill 4,513,691   4,178,061    
TOTAL NON-CURRENT ASSETS 23,216,807   21,125,583    
TOTAL ASSETS 37,697,610   33,454,683    
CURRENT LIABILITIES          
Trade accounts payable 4,313,158   3,752,732    
Supply chain finance 1,134,459   728,710    
Loans and financing 781,928   2,030,573    
Income taxes 170,093   185,079    
Other taxes payable 119,893   104,961    
Payroll and social charges 1,072,999   965,459    
Lease liabilities 294,217   271,787    
Dividends payable   358,621    
Provisions for legal proceedings 159,217   280,804    
Derivative liabilities 152,218   161,310    
Other current liabilities 398,770   294,116    
TOTAL CURRENT LIABILITIES 8,596,952   9,134,152    
NON-CURRENT LIABILITIES          
Loans and financing 17,166,293   14,039,072    
Income and other taxes payable 385,147   385,428    
Payroll and social charges 303,900   363,308    
Lease liabilities 1,212,245   1,201,148    
Deferred income taxes 695,746   642,065    
Provisions for legal proceedings 209,358   216,659    
Related party payable 190,998      
Derivative liabilities 114,376   100,087    
Other non-current liabilities 34,138   72,215    
TOTAL NON-CURRENT LIABILITIES 20,312,201   17,019,982    
EQUITY          
Share capital - common shares 5,145,820   13,177,841    
Reserves 6,803,802   (6,094,530)    
Undistributed results (3,246,042)   11,154    
Attributable to company shareholders 8,703,580   7,094,465    
Attributable to non-controlling interest 84,877   206,084    
TOTAL EQUITY 8,788,457   7,300,549    
TOTAL LIABILITIES AND EQUITY 37,697,610   33,454,683    
Unrestricted subsidiaries [Member] | Parent Company [Member]          
CURRENT ASSETS          
Cash and cash equivalents 643,406   2,040,915    
Margin cash 514   2,837    
Trade accounts receivable 1,188,544   1,007,612    
Dividends receivable        
Inventories 1,157,677   1,001,817    
Biological assets 538,523   482,420    
Recoverable taxes 241,507   165,867    
Derivative assets 14,631   7,354    
Other current assets 202,424   107,465    
TOTAL CURRENT ASSETS 3,987,226   4,816,287    
NON-CURRENT ASSETS          
Long-term investments        
Biological assets 355,216   316,420    
Deferred income taxes 31,474   36,543    
Other non-current assets 109,975   58,800    
TOTAL OTHER NON-CURRENT ASSETS 496,665   411,763    
Property, plant and equipment 3,568,139   3,175,225    
Right of use assets 242,821   241,512    
Intangible assets 882,902   862,987    
Goodwill 1,338,884   1,239,073    
TOTAL NON-CURRENT ASSETS 6,529,411   5,930,560    
TOTAL ASSETS 10,516,637   10,746,847    
CURRENT LIABILITIES          
Trade accounts payable 1,895,272   1,718,013    
Loans and financing 51,157   53,652    
Income taxes 123,994   60,134    
Other taxes payable 33,066   8,773    
Payroll and social charges 487,160   470,292    
Lease liabilities 60,670   63,894    
Dividends payable        
Derivative liabilities 4,187   4,669    
Other current liabilities 319,178   160,904    
TOTAL CURRENT LIABILITIES 2,974,684   2,540,331    
NON-CURRENT LIABILITIES          
Loans and financing 3,091,190   3,203,499    
Income and other taxes payable 22,580   21,227    
Payroll and social charges (15,835)   (10,590)    
Lease liabilities 200,153   197,200    
Deferred income taxes 474,322   453,226    
Related party payable        
Other non-current liabilities 8,042   16,353    
TOTAL NON-CURRENT LIABILITIES 3,780,452   3,880,915    
EQUITY          
Share capital - common shares 1,351,259        
Reserves (221,108)   3,502,940    
Undistributed results 1,897,016   (11,154)    
Attributable to company shareholders 3,027,167   3,491,786    
Attributable to non-controlling interest 734,334   833,815    
TOTAL EQUITY 3,761,501   4,325,601    
TOTAL LIABILITIES AND EQUITY 10,516,637   10,746,847    
Eliminations [Member] | Parent Company [Member]          
CURRENT ASSETS          
Cash and cash equivalents      
Margin cash      
Trade accounts receivable (11,906)   (5,232)    
Dividends receivable      
Inventories      
Biological assets      
Recoverable taxes (6,057)   (12,186)    
Derivative assets      
Other current assets (11,863)   (6,953)    
TOTAL CURRENT ASSETS (29,826)   (24,371)    
NON-CURRENT ASSETS          
Long-term investments      
Recoverable taxes      
Biological assets      
Related party receivables      
Deferred income taxes (768)      
Other non-current assets      
TOTAL OTHER NON-CURRENT ASSETS (768)      
Investments in equity-accounted investees (3,027,167)   (3,491,786)    
Property, plant and equipment      
Right of use assets      
Intangible assets      
Goodwill      
TOTAL NON-CURRENT ASSETS (3,027,935)   (3,491,786)    
TOTAL ASSETS (3,057,761)   (3,516,157)    
CURRENT LIABILITIES          
Trade accounts payable (10,330)   (5,232)    
Supply chain finance      
Loans and financing      
Income taxes (6,057)   (12,186)    
Other taxes payable      
Payroll and social charges      
Lease liabilities      
Dividends payable      
Provisions for legal proceedings      
Derivative liabilities      
Other current liabilities (13,439)      
TOTAL CURRENT LIABILITIES (29,826)   (17,418)    
NON-CURRENT LIABILITIES          
Loans and financing      
Income and other taxes payable      
Payroll and social charges      
Lease liabilities      
Deferred income taxes (768)      
Provisions for legal proceedings      
Related party payable      
Derivative liabilities      
Other non-current liabilities   (6,953)    
TOTAL NON-CURRENT LIABILITIES (768)   (6,953)    
EQUITY          
Share capital - common shares (6,461,965)      
Reserves   (3,491,786)    
Undistributed results 3,434,798      
Attributable to company shareholders (3,027,167)   (3,491,786)    
Attributable to non-controlling interest      
TOTAL EQUITY (3,027,167)   (3,491,786)    
TOTAL LIABILITIES AND EQUITY $ (3,057,761)   $ (3,516,157)    
[1] The reserves for 2024 have been aggregated to ensure comparability, considering the corporate restructuring that occurred in 2025 (see Note 1.1).