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Cash and Cash Equivalents, Margin Cash and Long-Term Investments - Schedule of Cash and Cash Equivalents (Details) - Cash and Cash Equivalents [Member] - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Schedule of Cash and Cash Equivalents [Line Items]    
Cash on hand and at banks $ 1,624,299 $ 2,557,740
CDB (bank certificates of deposit) / Overnight investments [1] 1,604,823 1,937,761
National Treasury Bill (Tesouro Selic) [2] 65,666 69,635
Cash and cash equivalents 3,294,788 4,565,136
CME (Chicago Mercantile Exchange) Margin investments [3] 70,466 105,993
Investments in Treasury Bills [2] 88,349 53,569
Margin cash 158,815 159,562
Investment funds [4] 49,224 45,780
Cash and cash equivalents Total $ 3,502,827 $ 4,770,478
[1] CDBs are held at financial institutions and earn interest based on floating rates and are pegged to the Brazilian overnight interbank lending rate (Certificado de Depósito Interbancário - CDI). Overnight investments are equivalent to fixed-income instruments, earning interest at the FED rate + 0.05%.
[2] Brazilian Government securities (Tesouro Selic) are instruments acquired from financial institutions with conditions and characteristics similar to bank certificates of deposit (CDBs).
[3] CME margin investments represent margin deposits allocated to fixed-income equivalent instruments. These investments accrue interest based on the Interest Rate on Reserve Balances (IORB).
[4] Investment in a FIDC (Credit Rights Investment Fund) maturing in 2035, earning a fixed interest rate of 5% in the period.