FINANCIAL INSTRUMENTS AND RISK MANAGEMENT - Derivative financial instruments for debt protection (Details) - BRL (R$)
|
12 Months Ended |
|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Asset |
R$ 666,399,000
|
R$ (1,058,820,000)
|
R$ 283,908,000
|
| Liability |
728,646,000
|
(974,381,000)
|
|
| Derivative financial liabilities held for hedging |
22,863,888,000
|
23,257,512,000
|
R$ 6,757,343,000
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(3,335,118,000)
|
(1,566,482,000)
|
|
| Debt Protection Derivative |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Asset |
1,074,473,000
|
2,152,316,000
|
|
| Liability |
1,803,119,000
|
1,177,935,000
|
|
| Credit agreement - US$ vs CDI, January 8,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
493,000,000
|
|
|
| Asset |
0
|
118,733,000
|
|
| Liability |
0
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(11,948,000)
|
109,356,000
|
|
| Bonds - US$ vs CDI, February 4,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
2,535,300,000
|
|
|
| Asset |
0
|
500,998,000
|
|
| Liability |
0
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(193,974,000)
|
560,392,000
|
|
| Credit agreement - US$ vs CDI, August 29,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
219,150,000
|
|
|
| Asset |
0
|
54,290,000
|
|
| Liability |
0
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(44,993,000)
|
52,930,000
|
|
| Credit agreement - US$ vs CDI, December 9,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
500,000,000
|
|
|
| Asset |
0
|
13,170,000
|
|
| Liability |
0
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(103,798,000)
|
13,170,000
|
|
| Credit agreement - EUR vs CDI, December 23,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
500,000,000
|
|
|
| Asset |
0
|
5,245,000
|
|
| Liability |
0
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(38,697,000)
|
5,245,000
|
|
| Credit agreement - US$ vs CDI, February 27,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
500,000,000
|
|
|
| Asset |
0
|
0
|
|
| Liability |
42,071,000
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(63,887,000)
|
0
|
|
| Credit agreement - US$ vs CDI, August 11,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
350,000,000
|
|
|
| Asset |
0
|
0
|
|
| Liability |
11,840,000
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(11,840,000)
|
0
|
|
| Credit agreement - US$ vs CDI, December 4,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
322,560,000
|
|
|
| Asset |
1,895,000
|
0
|
|
| Liability |
0
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
1,895,000
|
0
|
|
| Credit agreement - EUR vs CDI, December 21,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
245,000,000
|
|
|
| Asset |
1,764,000
|
0
|
|
| Liability |
0
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
1,764,000
|
0
|
|
| Credit agreement - EUR vs CDI, August 16,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
400,000,000
|
|
|
| Asset |
25,446,000
|
0
|
|
| Liability |
42,633,000
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(17,186,000)
|
0
|
|
| Credit agreement - US$ vs CDI, December 3,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
215,040,000
|
|
|
| Asset |
18,181,000
|
0
|
|
| Liability |
17,981,000
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
200,000
|
0
|
|
| Credit agreement - US$ vs CDI, December 16,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
216,760,000
|
|
|
| Asset |
17,387,000
|
0
|
|
| Liability |
17,758,000
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(371,000)
|
0
|
|
| Credit agreement - US$ vs CDI, June 20,2029 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
232,873,000
|
|
|
| Asset |
16,712,000
|
47,415,000
|
|
| Liability |
1,752,000
|
7,603,000
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(33,446,000)
|
41,141,000
|
|
| Bonds - US$ vs CDI, February 4,2030 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
3,810,300,000
|
|
|
| Asset |
428,933,000
|
715,544,000
|
|
| Liability |
355,301,000
|
235,194,000
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(700,988,000)
|
634,410,000
|
|
| Debentures - IPCA vs CDI, June 15,2031 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
4,900,000,000
|
|
|
| Asset |
331,658,000
|
142,788,000
|
|
| Liability |
279,429,000
|
343,924,000
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(88,822,000)
|
(296,800,000)
|
|
| Debentures - IPCA vs CDI, September 15,2034 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
1,630,000,000
|
|
|
| Asset |
87,849,000
|
0
|
|
| Liability |
103,383,000
|
89,867,000
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(14,779,000)
|
(89,867,000)
|
|
| SACE - US$ vs CDI, December 4,2034 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
2,378,400,000
|
|
|
| Asset |
0
|
266,397,000
|
|
| Liability |
207,039,000
|
185,005,000
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(500,256,000)
|
81,392,000
|
|
| Bonds - US$ vs CDI, January 11,2035 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
4,229,025,000
|
|
|
| Asset |
0
|
287,736,000
|
|
| Liability |
586,756,000
|
316,342,000
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(851,612,000)
|
(28,606,000)
|
|
| Debentures - IPCA vs CDI, July 16,2035 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
2,000,000,000
|
|
|
| Asset |
96,620,000
|
0
|
|
| Liability |
102,499,000
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(5,879,000)
|
0
|
|
| Debentures - IPCA vs CDI, September 17,2035 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
700,000,000
|
|
|
| Asset |
48,028,000
|
0
|
|
| Liability |
34,677,000
|
0
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
13,351,000
|
0
|
|
| Long-Term Commitment Derivatives |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Asset |
62,247,000
|
84,439,000
|
|
| Liability |
0
|
0
|
|
| NDF US$, April 30,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
67,113,000
|
|
|
| Asset |
0
|
224,000
|
|
| Liability |
0
|
0
|
|
| NDF US$ and Primary Aluminum, October 1,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
444,000
|
|
|
| Asset |
0
|
91,000
|
|
| Liability |
0
|
0
|
|
| NDF US$ and Primary Aluminum, November 1,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
447,000
|
|
|
| Asset |
0
|
92,000
|
|
| Liability |
0
|
0
|
|
| NDF US$ and Primary Aluminum, December 1,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
451,000
|
|
|
| Asset |
0
|
91,000
|
|
| Liability |
0
|
0
|
|
| NDF US$ and Primary Aluminum, February 1,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
33,089,000
|
|
|
| Asset |
4,695,000
|
6,548,000
|
|
| Liability |
0
|
0
|
|
| NDF US$, February 27,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
1,636,000
|
|
|
| Asset |
251,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$ and Primary Aluminum, March 1,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
58,884,000
|
|
|
| Asset |
8,312,000
|
11,635,000
|
|
| Liability |
0
|
0
|
|
| NDF US$ and Primary Aluminum, April 1,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
59,296,000
|
|
|
| Asset |
8,191,000
|
11,684,000
|
|
| Liability |
0
|
0
|
|
| NDF US$ and Primary Aluminum, May 1,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
59,718,000
|
|
|
| Asset |
8,316,000
|
11,752,000
|
|
| Liability |
0
|
0
|
|
| NDF US$ and Primary Aluminum, June 1,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
60,181,000
|
|
|
| Asset |
8,313,000
|
11,726,000
|
|
| Liability |
0
|
0
|
|
| NDF US$, June 30,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
650,000
|
|
|
| Asset |
103,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$ and Primary Aluminum, July 1,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
60,617,000
|
|
|
| Asset |
8,338,000
|
11,751,000
|
|
| Liability |
0
|
0
|
|
| NDF US$, July 31,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
650,000
|
|
|
| Asset |
103,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$ and Primary Aluminum, August 1,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
61,081,000
|
|
|
| Asset |
8,354,000
|
11,852,000
|
|
| Liability |
0
|
0
|
|
| NDF US$, August 31,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
337,000
|
|
|
| Asset |
53,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$ and Primary Aluminum, September 1,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
34,560,000
|
|
|
| Asset |
5,098,000
|
6,993,000
|
|
| Liability |
0
|
0
|
|
| NDF US$, November 30,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
626,000
|
|
|
| Asset |
100,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, December 30,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
1,487,000
|
|
|
| Asset |
238,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, January 29,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
1,769,000
|
|
|
| Asset |
283,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, February 26,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
1,395,000
|
|
|
| Asset |
224,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, March 31,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
2,068,000
|
|
|
| Asset |
333,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, April 30,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
1,665,000
|
|
|
| Asset |
269,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, May 31,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
1,178,000
|
|
|
| Asset |
192,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, June 30,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
757,000
|
|
|
| Asset |
124,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, July 30,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
252,000
|
|
|
| Asset |
42,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, August 31,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
409,000
|
|
|
| Asset |
67,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, September 30,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
157,000
|
|
|
| Asset |
26,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, October 29,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
241,000
|
|
|
| Asset |
40,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, November 30,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
325,000
|
|
|
| Asset |
54,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, December 30,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
168,000
|
|
|
| Asset |
28,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, January 31,2028 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
337,000
|
|
|
| Asset |
57,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, February 25,2028 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
84,000
|
|
|
| Asset |
14,000
|
0
|
|
| Liability |
0
|
0
|
|
| NDF US$, March 31,2028 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Notional value |
168,000
|
|
|
| Asset |
29,000
|
0
|
|
| Liability |
0
|
0
|
|
| Derivative Result |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(2,665,266,000)
|
1,151,248,000
|
|
| Credit agreement - US$ vs CDI, June 18,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
0
|
68,485,000
|
|
| Debt Result |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(669,852,000)
|
(2,717,730,000)
|
|
| Credit agreement, January 8,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
10,718,000
|
(165,382,000)
|
|
| Bonds, February 4,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
122,640,000
|
(765,876,000)
|
|
| Credit agreement, August 29,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
25,167,000
|
(68,059,000)
|
|
| Credit agreement, December 9,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
36,360,000
|
(17,497,000)
|
|
| Credit agreement, December 23,2025 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(29,242,000)
|
(7,838,000)
|
|
| Credit agreement, February 27,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
2,664,000
|
0
|
|
| Credit agreement, June 18,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
0
|
(257,569,000)
|
|
| Credit agreement, August 11,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(9,836,000)
|
0
|
|
| Credit agreement, December 4,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(5,734,000)
|
0
|
|
| Credit agreement, December 21,2026 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(3,181,000)
|
0
|
|
| Credit agreement, August 16,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(10,792,000)
|
0
|
|
| Credit agreement, December 3,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(4,296,000)
|
0
|
|
| Credit agreement, December 16,2027 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(2,789,000)
|
0
|
|
| Credit agreement, June 20,2029 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
10,681,000
|
(59,203,000)
|
|
| Bonds, February 4,2030 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
48,287,000
|
(1,068,243,000)
|
|
| Debentures, June 16,2031 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(600,834,000)
|
(53,596,000)
|
|
| Debentures, September 15,2034 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(211,489,000)
|
46,824,000
|
|
| SPA (SACE), December 4,2034 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
130,855,000
|
(206,217,000)
|
|
| Bonds, January 11,2035 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(122,379,000)
|
(95,074,000)
|
|
| Debentures, July 16,2035 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(63,802,000)
|
0
|
|
| Debentures, September 17,2035 |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
7,150,000
|
0
|
|
| Designation of protected debt |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
4,949,360,000
|
18,630,425,000
|
|
| Fair value assessment - result |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
669,852,000
|
2,717,730,000
|
|
| Amortizations |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
(6,012,836,000)
|
(4,847,986,000)
|
|
| Fair value assessment - result |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
2,665,266,000
|
(1,151,248,000)
|
|
| Fair value assessment - OCI |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
22,146,000
|
(84,825,000)
|
|
| Amortizations |
|
|
|
| FINANCIAL INSTRUMENTS AND RISK MANAGEMENT |
|
|
|
| Gain (loss) on change in fair value of hedged item used as basis for recognizing hedge ineffectiveness |
R$ (962,193,000)
|
R$ (106,655,000)
|
|