v3.26.3
Supplemental financial information - Schedule of Consolidated Statements of Financial Position (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Sep. 30, 2025
May 23, 2025
Dec. 31, 2024
CURRENT ASSETS          
Cash and cash equivalents $ 4,148,762 $ 4,565,136 $ 3,558,215   $ 5,613,672
Margin cash 102,709 159,562      
Trade accounts receivable 3,273,509 4,231,924      
Dividends receivable 0 1,465      
Inventories 7,447,166 6,107,165      
Biological assets 1,728,727 1,826,766 1,820,815   1,608,223
Recoverable taxes 1,294,200 957,211      
Derivative assets 89,072 155,602      
Other current assets 565,906 433,372      
TOTAL CURRENT ASSETS 18,650,051 18,438,203      
NON-CURRENT ASSETS          
Long-term investments 52,030 45,780      
Recoverable taxes 2,160,075 1,874,572      
Biological assets 670,355 611,799 602,189   518,234
Related party receivables 38,086 41,231      
Deferred income taxes 699,386 547,014      
Other non-current assets 538,233 488,803      
Investments in equity-accounted investees 213,706 171,612 226,539   38,312
Property, plant and equipment 14,613,833 13,645,658 13,263,866   11,780,880
Right of use assets 1,694,966 1,613,647 1,644,803   1,596,873
Intangible assets 1,754,671 1,825,592      
Goodwill 5,992,688 5,852,575      
TOTAL NON-CURRENT ASSETS 28,428,029 26,718,283      
TOTAL ASSETS 47,078,080 45,156,486      
CURRENT LIABILITIES          
Trade accounts payable 5,984,359 6,198,100      
Supply chain finance 1,192,985 1,134,459      
Loans and financing 1,421,378 833,085      
Income taxes 187,037 288,030      
Other taxes payable 170,201 152,959      
Payroll and social charges 1,568,059 1,560,159      
Lease liabilities 378,447 354,887      
Dividends payable 11 0      
Provisions for legal proceedings 218,661 159,217      
Derivative liabilities 148,284 156,405      
Other current liabilities 666,583 704,509      
TOTAL CURRENT LIABILITIES 11,936,005 11,541,810      
NON-CURRENT LIABILITIES          
Loans and financing 22,186,985 20,257,483      
Income and other taxes payable 419,395 407,727      
Payroll and social charges   288,065      
Payroll and social charges 228,668 288,065      
Lease liabilities 1,480,676 1,412,398      
Deferred income taxes 1,201,395 1,169,300      
Provisions for legal proceedings 216,427 209,358      
Related party payables 123,608 190,998      
Derivative liabilities 55,213 114,376      
Other non-current liabilities 52,754 42,180      
TOTAL NON-CURRENT LIABILITIES 25,965,121 24,091,885      
EQUITY          
Share capital - common shares 41,560 35,114      
Reserves 7,760,922 6,644,319      
Undistributed results 282,916 2,085,772      
Accumulated other comprehensive loss 245,588 (61,625)      
Attributable to company shareholders 8,330,986 8,703,580      
Attributable to non-controlling interest 845,968 819,211      
TOTAL EQUITY 9,176,954 9,522,791 $ 9,509,157 $ (5,417,642) $ 8,134,364
TOTAL LIABILITIES AND EQUITY 47,078,080 45,156,486      
Eliminations          
CURRENT ASSETS          
Cash and cash equivalents 0 0      
Margin cash 0 0      
Trade accounts receivable (6,738) (11,906)      
Dividends receivable   0      
Inventories 0 0      
Biological assets 0 0      
Recoverable taxes 0 (6,057)      
Derivative assets 0 0      
Other current assets (23,794) (11,863)      
TOTAL CURRENT ASSETS (30,532) (29,826)      
NON-CURRENT ASSETS          
Long-term investments 0 0      
Recoverable taxes 0 0      
Biological assets 0 0      
Related party receivables 0 0      
Deferred income taxes 0 (768)      
Other non-current assets 0 0      
Investments in equity-accounted investees (3,188,610) (3,027,167)      
Property, plant and equipment 0 0      
Right of use assets 0 0      
Intangible assets 0 0      
Goodwill 0 0      
TOTAL NON-CURRENT ASSETS (3,188,610) (3,027,935)      
TOTAL ASSETS (3,219,142) (3,057,761)      
CURRENT LIABILITIES          
Trade accounts payable (6,738) (10,330)      
Supply chain finance 0 0      
Loans and financing 0 0      
Income taxes 0 (6,057)      
Other taxes payable 0 0      
Payroll and social charges 0 0      
Lease liabilities 0 0      
Dividends payable 0 0      
Provisions for legal proceedings 0 0      
Derivative liabilities 0 0      
Other current liabilities (23,794) (13,439)      
TOTAL CURRENT LIABILITIES (30,532) (29,826)      
NON-CURRENT LIABILITIES          
Loans and financing 0 0      
Income and other taxes payable 0 0      
Payroll and social charges   0      
Payroll and social charges 0        
Lease liabilities 0 0      
Deferred income taxes 0 (768)      
Provisions for legal proceedings 0 0      
Related party payables 0 0      
Derivative liabilities 0 0      
Other non-current liabilities 0 0      
TOTAL NON-CURRENT LIABILITIES 0 (768)      
EQUITY          
Share capital - common shares (6,623,408) (6,461,965)      
Reserves 0 0      
Undistributed results 3,434,798 3,434,798      
Accumulated other comprehensive loss 0      
Attributable to company shareholders (3,188,610) (3,027,167)      
Attributable to non-controlling interest 0 0      
TOTAL EQUITY (3,188,610) (3,027,167)      
TOTAL LIABILITIES AND EQUITY (3,219,142) (3,057,761)      
Restricted subsidiaries | Reportable Legal Entities          
CURRENT ASSETS          
Cash and cash equivalents 3,206,348 3,921,730      
Margin cash 100,999 159,048      
Trade accounts receivable 2,268,603 3,055,286      
Dividends receivable   1,465      
Inventories 6,291,252 4,949,488      
Biological assets 1,168,150 1,288,243      
Recoverable taxes 1,036,239 721,761      
Derivative assets 62,826 140,971      
Other current assets 350,033 242,811      
TOTAL CURRENT ASSETS 14,484,450 14,480,803      
NON-CURRENT ASSETS          
Long-term investments 52,030 45,780      
Recoverable taxes 2,160,075 1,874,572      
Biological assets 290,747 256,583      
Related party receivables 38,086 41,231      
Deferred income taxes 670,758 516,308      
Other non-current assets 378,609 378,828      
Investments in equity-accounted investees 3,402,316 3,198,779      
Property, plant and equipment 10,726,670 10,077,519      
Right of use assets 1,392,805 1,370,826      
Intangible assets 912,527 942,690      
Goodwill 4,675,877 4,513,691      
TOTAL NON-CURRENT ASSETS 24,700,500 23,216,807      
TOTAL ASSETS 39,184,950 37,697,610      
CURRENT LIABILITIES          
Trade accounts payable 4,362,414 4,313,158      
Supply chain finance 800,847 1,134,459      
Loans and financing 1,378,517 781,928      
Income taxes 76,712 170,093      
Other taxes payable 156,108 119,893      
Payroll and social charges 1,200,122 1,072,999      
Lease liabilities 312,780 294,217      
Dividends payable 11 0      
Provisions for legal proceedings 38,305 159,217      
Derivative liabilities 135,071 152,218      
Other current liabilities 529,443 398,770      
TOTAL CURRENT LIABILITIES 8,990,330 8,596,952      
NON-CURRENT LIABILITIES          
Loans and financing 18,783,638 17,166,293      
Income and other taxes payable 395,623 385,147      
Payroll and social charges   303,900      
Payroll and social charges 226,564        
Lease liabilities 1,225,106 1,212,245      
Deferred income taxes 713,496 695,746      
Provisions for legal proceedings 216,427 209,358      
Related party payables 123,608 190,998      
Derivative liabilities 55,213 114,376      
Other non-current liabilities 45,856 34,138      
TOTAL NON-CURRENT LIABILITIES 21,785,531 20,312,201      
EQUITY          
Share capital - common shares 5,350,861 5,145,820      
Reserves 7,903,045 6,855,134      
Undistributed results (5,238,133) (3,246,042)      
Accumulated other comprehensive loss 315,213 (51,334)      
Attributable to company shareholders 8,330,986 8,703,580      
Attributable to non-controlling interest 78,103 84,877      
TOTAL EQUITY 8,409,089 8,788,457      
TOTAL LIABILITIES AND EQUITY 39,184,950 37,697,610      
Unrestricted subsidiaries | Reportable Legal Entities          
CURRENT ASSETS          
Cash and cash equivalents 942,414 643,406      
Margin cash 1,710 514      
Trade accounts receivable 1,011,644 1,188,544      
Dividends receivable   0      
Inventories 1,155,914 1,157,677      
Biological assets 560,577 538,523      
Recoverable taxes 257,961 241,507      
Derivative assets 26,246 14,631      
Other current assets 239,667 202,424      
TOTAL CURRENT ASSETS 4,196,133 3,987,226      
NON-CURRENT ASSETS          
Long-term investments 0 0      
Recoverable taxes 0 0      
Biological assets 379,608 355,216      
Related party receivables 0 0      
Deferred income taxes 28,628 31,474      
Other non-current assets 159,624 109,975      
Investments in equity-accounted investees 0 0      
Property, plant and equipment 3,887,163 3,568,139      
Right of use assets 302,161 242,821      
Intangible assets 842,144 882,902      
Goodwill 1,316,811 1,338,884      
TOTAL NON-CURRENT ASSETS 6,916,139 6,529,411      
TOTAL ASSETS 11,112,272 10,516,637      
CURRENT LIABILITIES          
Trade accounts payable 1,628,683 1,895,272      
Supply chain finance 392,138 0      
Loans and financing 42,861 51,157      
Income taxes 110,325 123,994      
Other taxes payable 14,093 33,066      
Payroll and social charges 367,937 487,160      
Lease liabilities 65,667 60,670      
Dividends payable 0 0      
Provisions for legal proceedings 180,356 0      
Derivative liabilities 13,213 4,187      
Other current liabilities 160,934 319,178      
TOTAL CURRENT LIABILITIES 2,976,207 2,974,684      
NON-CURRENT LIABILITIES          
Loans and financing 3,403,347 3,091,190      
Income and other taxes payable 23,772 22,580      
Payroll and social charges   (15,835)      
Payroll and social charges 2,104        
Lease liabilities 255,570 200,153      
Deferred income taxes 487,899 474,322      
Provisions for legal proceedings 0 0      
Related party payables 0 0      
Derivative liabilities 0 0      
Other non-current liabilities 6,898 8,042      
TOTAL NON-CURRENT LIABILITIES 4,179,590 3,780,452      
EQUITY          
Share capital - common shares 1,314,107 1,351,259      
Reserves (142,123) (210,815)      
Undistributed results 2,086,251 1,897,016      
Accumulated other comprehensive loss (69,625) (10,291)      
Attributable to company shareholders 3,188,610 3,027,167      
Attributable to non-controlling interest 767,865 734,334      
TOTAL EQUITY 3,956,475 3,761,501      
TOTAL LIABILITIES AND EQUITY $ 11,112,272 $ 10,516,637