v3.26.1
Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income $ 241,590 $ 556,334
Adjustments for:    
Depreciation and amortization 617,488 535,644
Expected credit losses 2,678 12,896
Share of loss (profit) of equity-accounted investees (138,415) (2,735)
Gain on sales of assets (12,727) (10,771)
Tax expense 67,103 137,770
Net finance expense 314,210 191,546
Share-based compensation 6,073 7,001
Provisions for legal proceedings 24,826 14,020
Impairment of goodwill and property, plant and equipment 6,240
Net realizable value inventory adjustments 15,776 17,140
DOJ (Department of Justice) and antitrust agreements 24,644 79,549
Fair value adjustment of biological assets (24,787) 9,191
Total Adjustments 1,138,459 1,553,825
Changes in assets and liabilities:    
Trade accounts receivable 331,067 236,929
Inventories (582,394) (640,928)
Recoverable taxes 2,622 42,046
Other current and non-current assets 7,845 (288,542)
Biological assets (182,986) (191,303)
Trade accounts payable and supply chain finance (799,306) (547,375)
Taxes paid in installments (14,336) (6,948)
Other current and non-current liabilities (178,361) (68,455)
DOJ and Antitrust agreements payment/reimbursement 47,347 (139,709)
Income taxes paid (218,479) (234,334)
Changes in operating assets and liabilities (1,586,981) (1,838,619)
Cash used in operating activities (448,522) (284,794)
Interest paid (366,843) (311,521)
Interest received 26,068 41,786
Net cash flows used in operating activities (789,297) (554,529)
Cash flow from investing activities    
Purchases of property, plant and equipment (566,397) (264,656)
Dividends received 1,943
Purchase and disposals of intangible assets (5,024) (2,672)
Additions (disposals) to investments in joint ventures 26,356
Related party transactions 1,724
Proceeds from sale of property, plant and equipment 28,653 21,863
Cash used in investing activities (514,688) (243,522)
Cash flow from financing activities    
Proceeds from loans and financings 533,030 2,181,040
Payments of loans and financings (434,887) (1,750,652)
Derivatives instruments received (settled) (20,178) (8,853)
Margin cash (31,405) 22,205
Dividends paid (379,505)
Dividends paid to non-controlling interest (1,776) (906)
Disposal of treasury shares 1,234
Payments of leasing contracts (110,979) (98,282)
Others (2,768)
Cash used in by financing activities (67,729) (34,953)
Effect of exchange rate changes on cash and cash equivalents 101,366 45,314
Net change in cash and cash equivalents (1,270,348) (787,690)
Cash and cash equivalents beginning of period 4,565,136 5,613,672
Cash and cash equivalents at the end of period 3,294,788 4,825,982
Non-cash additions to right of use assets and lease liabilities 79,890 71,466
Capitalized interests 11,009 10,015
Provisioned and unpaid dividends $ 1,070,877 $ 1,018,463