Cover
Cover | 12 Months Ended |
Dec. 31, 2023 shares | |
Entity Addresses [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Document Period End Date | Dec. 31, 2023 |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2023 |
Current Fiscal Year End Date | --12-31 |
Entity File Number | 001-14862 |
Entity Registrant Name | BRASKEM SA |
Entity Central Index Key | 0001071438 |
Entity Incorporation, State or Country Code | D5 |
Entity Address, Address Line One | Rua Lemos Monteiro, 120 – 24° andar |
Entity Address, City or Town | São Paulo |
Entity Address, Country | BR |
Entity Address, Postal Zip Code | 05501-050 |
Title of 12(b) Security | Preferred Shares, Class A, without par value per share, each represented by American Depositary Shares |
Trading Symbol | BAK |
Security Exchange Name | NYSE |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 451,668,652 |
Contact Personnel Fax Number | 55 11 3576-9532 |
ICFR Auditor Attestation Flag | true |
Document Financial Statement Error Correction [Flag] | false |
Auditor Firm ID | 1124 |
Auditor Name | KPMG Auditores Independentes Ltda. |
Auditor Location | São Paulo, Brazil |
Class A Preferred Shares [Member] | |
Entity Addresses [Line Items] | |
Entity Common Stock, Shares Outstanding | 345,060,392 |
Class B Preferred Shares [Member] | |
Entity Addresses [Line Items] | |
Entity Common Stock, Shares Outstanding | 478,790 |
Business Contact [Member] | |
Entity Addresses [Line Items] | |
Entity Address, Address Line One | Rua Lemos Monteiro, 120 – 24° andar |
Entity Address, City or Town | São Paulo |
Entity Address, Country | BR |
Entity Address, Postal Zip Code | 05501-050 |
City Area Code | 55 |
Local Phone Number | 11 3576-9000 |
Contact Personnel Name | Pedro van Langendonck Teixeira de Freitas |
Statement of consolidated finan
Statement of consolidated financial position - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Current assets | ||
Cash and cash equivalents | R$ 14187 | R$ 12466 |
Financial investments | 4,956 | 2,295 |
Trade accounts receivable | 2,910 | 3,232 |
Inventories | 12,532 | 14,030 |
Taxes recoverable | 1,461 | 1,156 |
Recoverable income taxes | 428 | 392 |
Derivatives | 137 | 158 |
Other receivables | 830 | 728 |
Total Current Assets | 37,441 | 34,457 |
Non-current assets | ||
Taxes recoverable | 1,370 | 1,618 |
Recoverable income taxes | 292 | 253 |
Deferred tax assets | 6,443 | 6,359 |
Judicial deposits | 178 | 215 |
Derivatives | 210 | 72 |
Other receivables | 309 | 188 |
Investments | 165 | 149 |
Property, plant and equipment | 38,405 | 37,763 |
Intangible assets | 3,108 | 3,022 |
Right of use of assets | 3,820 | 3,953 |
Total Non-Current Assets | 54,300 | 53,592 |
Total assets | 91,741 | 88,049 |
Current liabilities | ||
Trade payables | 13,221 | 12,247 |
Borrowings and debentures | 2,029 | 1,382 |
Braskem Idesa borrowings | 739 | 868 |
Derivatives | 58 | 195 |
Payroll and related charges | 828 | 828 |
Taxes payable | 387 | 491 |
Income taxes payable | 11 | 381 |
Sundry provisions | 1,282 | 923 |
Geological event in Alagoas | 2,759 | 4,248 |
Lease | 978 | 1,040 |
Other payables | 2,202 | 1,583 |
Total Current Liabilities | 24,494 | 24,186 |
Non-current liabilities | ||
Borrowings and debentures | 40,207 | 34,334 |
Braskem Idesa borrowings | 10,511 | 10,502 |
Derivatives | 141 | 82 |
Taxes payable | 206 | 298 |
Loan from non-controlling shareholders of Braskem Idesa | 2,490 | 2,498 |
Deferred tax liabilities | 1,677 | 1,153 |
Post-employment benefits | 567 | 494 |
Legal provisions | 1,095 | 1,171 |
Sundry provisions | 943 | 1,357 |
Geological event in Alagoas | 2,481 | 2,379 |
Lease | 2,955 | 3,201 |
Other payables | 695 | 286 |
Total Non-Current Liabilities | 63,968 | 57,755 |
Shareholders' equity | ||
Capital | 8,043 | 8,043 |
Capital reserve and treasury shares | 27 | 17 |
Profit reserves | 1,826 | |
Additional paid in capital | (488) | (488) |
Other comprehensive loss | (852) | (2,076) |
Accumulated losses | (2,738) | |
Total attributable to the Company's shareholders | 3,992 | 7,322 |
Non-controlling interest in subsidiaries | (713) | (1,214) |
Total Shareholders’ Equity | 3,279 | 6,108 |
Total liabilities and shareholders' equity | R$ 91741 | R$ 88049 |
Statement of consolidated profi
Statement of consolidated profit or loss - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 70569 | R$ 96519 | R$ 105625 |
Cost of products sold | (67,548) | (85,161) | (73,568) |
Gross profit | 3,021 | 11,358 | 32,057 |
Income (expenses) | |||
Selling and distribution | (1,916) | (2,108) | (2,056) |
Loss for impairment of trade accounts receivable and others from clients | (83) | (38) | (9) |
General and administrative | (2,472) | (2,764) | (2,522) |
Research and development | (383) | (374) | (297) |
Results from equity-accounted investees | 7 | 35 | 5 |
Other income | 1,769 | 507 | 1,534 |
Other expenses | (2,735) | (2,344) | (2,669) |
(Loss) profit before financial results and taxes | (2,792) | 4,272 | 26,043 |
Financial results | |||
Financial expenses | (5,589) | (5,066) | (4,903) |
Financial income | 1,678 | 1,374 | 1,581 |
Derivatives and exchange rate variations, net | 511 | (533) | (4,760) |
Finance income (cost) | (3,400) | (4,225) | (8,082) |
(Loss) profit before income tax | (6,192) | 47 | 17,961 |
Income taxes | 1,302 | (868) | (3,999) |
Net (loss) profit for the year | (4,890) | (821) | 13,962 |
Attributable to: | |||
Company's shareholders | (4,579) | (336) | 13,985 |
Non-controlling interest in subsidiaries | R$ 311 | R$ 485 | R$ 23 |
Common shares member | |||
Earnings per share - basic and diluted - R$ | |||
Earnings per share - basic | R$ 5.7458 | R$ 0.4215 | R$ 17.5747 |
Earnings per share - diluted | (5.7458) | (0.4215) | 17.5747 |
Class A Preferred Shares [Member] | |||
Earnings per share - basic and diluted - R$ | |||
Earnings per share - basic | (5.7458) | (0.4215) | 17.5749 |
Earnings per share - diluted | (5.7458) | (0.4215) | 17.5242 |
Class B Preferred Shares [Member] | |||
Earnings per share - basic and diluted - R$ | |||
Earnings per share - basic | (5.7458) | (0.4215) | 0.5798 |
Earnings per share - diluted | R$ 5.7458 | R$ 0.4215 | R$ 0.5798 |
Statement of consolidated other
Statement of consolidated other comprehensive (loss) income - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Profit or loss [abstract] | |||
Net (loss) profit for the year | R$ 4890 | R$ 821 | R$ 13962 |
Items that will be reclassified subsequently to profit or loss | |||
Fair value of cash flow hedge, net of taxes | 150 | 293 | 323 |
Cash flow hedges,net of tax | 150 | 293 | 323 |
Exchange variation of foreign sales hedge, net of taxes | 2,359 | 2,060 | (5) |
Exchange variation of foreign sales hedge - Braskem Idesa, net of taxes | 1,497 | 787 | 212 |
Sales hedges, net of tax | 3,856 | 2,847 | 207 |
Foreign subsidiaries currency translation adjustment | (2,464) | (1,806) | 1,503 |
Total | 1,542 | 1,334 | 2,033 |
Item that will not be reclassified to profit or loss | |||
Actuarial gain (loss) with post-employment benefits, net of taxes | (85) | 10 | 23 |
Total | (85) | 10 | 23 |
Total comprehensive (loss) income for the year | (3,433) | 523 | 16,018 |
Attributable to: | |||
Company's shareholders | (3,405) | 715 | 16,016 |
Non-controlling interest in subsidiaries | R$ 28 | R$ 192 | R$ 2 |
Statement of consolidated chang
Statement of consolidated changes in equity - BRL (R$) R$ in Millions | Issued capital [member] | Capital reserve / Long-term Incentive Plans [member] | Treasury shares [member] | Capital reserve [member] | Statutory reserve [member] | Tax Incentive [Member] | Retention Of Profits [Member] | Additional Dividends Proposed [Member] | Additional paid-in capital [member] | Accumulated other comprehensive income [member] | Retained earnings [member] | Equity attributable to owners of parent [member] | Non-controlling interests [member] | Total |
Beginning balance, value at Dec. 31, 2020 | R$ 8043 | R$ 32 | R$ 50 | R$ 488 | R$ 5209 | R$ 4530 | R$ 2202 | R$ 1664 | R$ 3866 | |||||
Comprehensive income for the year: | ||||||||||||||
Loss for the year | 13,985 | 13,985 | (23) | 13,962 | ||||||||||
Exchange variation of foreign sales hedge, net of taxes | 154 | 154 | 53 | 207 | ||||||||||
Fair value of cash flow hedge, net of taxes | 263 | 263 | 60 | 323 | ||||||||||
Actuarial loss with post-employment benefits, net of taxes | 23 | 23 | 23 | |||||||||||
Foreign subsidiaries currency translation adjustment | 1,591 | 1,591 | (88) | 1,503 | ||||||||||
Total Comprehensive income for the period | 2,031 | 13,985 | 16,016 | 2 | 16,018 | |||||||||
Equity valuation adjustments: | ||||||||||||||
Realization of additional property, plant and equipment price-level restatement, net of taxes | (26) | 26 | ||||||||||||
Realization of deemed cost of jointly-controlled investment, net of taxes | (1) | 1 | ||||||||||||
Exchange variation in hyperinflationary economy, net of taxes | 35 | 35 | 35 | |||||||||||
Equity valuation adjustments | 8 | 27 | 35 | 35 | ||||||||||
Contributions and distributions to shareholders: | ||||||||||||||
Dividends-lapse of statute of limitation | 3 | 3 | 3 | |||||||||||
Dividends | (6,000) | (6,000) | (6,000) | |||||||||||
Incentive long term plan payments with treasury shares | 12 | 3 | 15 | 15 | ||||||||||
Legal reserve | 473 | (473) | ||||||||||||
Tax incentive reserve | 1,018 | (1,018) | ||||||||||||
Retention of profits | 644 | (644) | ||||||||||||
Additional proposed dividends | 1,350 | (1,350) | ||||||||||||
Total contributions to shareholders | 12 | 3 | 473 | 1,018 | 644 | 1,350 | (9,482) | (5,982) | (5,982) | |||||
Ending balance, value at Dec. 31, 2021 | 8,043 | 32 | (38) | 3 | 473 | 1,018 | 644 | 1,350 | (488) | (3,170) | 7,867 | (1,662) | 6,205 | |
Comprehensive income for the year: | ||||||||||||||
Loss for the year | (336) | (336) | (485) | (821) | ||||||||||
Exchange variation of foreign sales hedge, net of taxes | 2,650 | 2,650 | 197 | 2,847 | ||||||||||
Fair value of cash flow hedge, net of taxes | 293 | 293 | 293 | |||||||||||
Actuarial loss with post-employment benefits, net of taxes | 10 | 10 | 10 | |||||||||||
Foreign subsidiaries currency translation adjustment | (1,902) | (1,902) | 96 | (1,806) | ||||||||||
Total Comprehensive income for the period | 1,051 | (336) | 715 | (192) | 523 | |||||||||
Equity valuation adjustments: | ||||||||||||||
Realization of additional property, plant and equipment price-level restatement, net of taxes | (26) | 26 | ||||||||||||
Realization of deemed cost of jointly-controlled investment, net of taxes | (1) | 1 | ||||||||||||
Long term incentive plan, net of taxes | 20 | 20 | 20 | |||||||||||
Fair value of financial transactions of non-controlling subsidiaries | 610 | 610 | ||||||||||||
Exchange variation in hyperinflationary economy, net of taxes | 70 | 70 | 70 | |||||||||||
Equity valuation adjustments | 20 | 43 | 27 | 90 | 610 | 700 | ||||||||
Contributions and distributions to shareholders: | ||||||||||||||
Incentive long term plan payments with treasury shares | (13) | 10 | 3 | |||||||||||
SUDENE tax incentive supplement | 109 | (109) | ||||||||||||
Non-controlling interest in acquired entity | 31 | 31 | ||||||||||||
Additional dividends approved in the board meeting | (1,350) | (1,350) | (1,350) | |||||||||||
Absorption of losses | (418) | 418 | ||||||||||||
Proposed dividends | (1) | (1) | ||||||||||||
Total contributions to shareholders | (13) | 10 | 3 | 109 | (418) | (1,350) | 309 | (1,350) | 30 | (1,320) | ||||
Ending balance, value at Dec. 31, 2022 | 8,043 | 39 | (28) | 6 | 473 | 1,127 | 226 | (488) | (2,076) | 7,322 | (1,214) | 6,108 | ||
Comprehensive income for the year: | ||||||||||||||
Loss for the year | (4,579) | (4,579) | (311) | (4,890) | ||||||||||
Exchange variation of foreign sales hedge, net of taxes | 3,482 | 3,482 | 374 | 3,856 | ||||||||||
Fair value of cash flow hedge, net of taxes | 150 | 150 | 150 | |||||||||||
Actuarial loss with post-employment benefits, net of taxes | (85) | (85) | (85) | |||||||||||
Foreign subsidiaries currency translation adjustment | (2,373) | (2,373) | (91) | (2,464) | ||||||||||
Total Comprehensive income for the period | 1,174 | (4,579) | (3,405) | (28) | (3,433) | |||||||||
Equity valuation adjustments: | ||||||||||||||
Realization of additional property, plant and equipment price-level restatement, net of taxes | (15) | 15 | ||||||||||||
Long term incentive plan, net of taxes | (2) | (2) | (2) | |||||||||||
Fair value adjustments of trade accounts receivable, net of taxes | 5 | 5 | 5 | |||||||||||
Exchange variation in hyperinflationary economy, net of taxes | 60 | 60 | 60 | |||||||||||
Equity valuation adjustments | (2) | 50 | 15 | 63 | 63 | |||||||||
Contributions and distributions to shareholders: | ||||||||||||||
Incentive long term plan payments with treasury shares | 28 | (16) | 12 | 12 | ||||||||||
Proceeds from sale of non-controlling interests | 316 | 316 | ||||||||||||
Capital increase from cotrolling interests | 168 | 168 | ||||||||||||
Other | (5) | (5) | ||||||||||||
Acquisition of subsidiary with non-controlling interests | 62 | 62 | ||||||||||||
Absorption of losses | (473) | (1,127) | (226) | 1,826 | ||||||||||
Proposed dividends | (12) | (12) | ||||||||||||
Total contributions to shareholders | 28 | (16) | (473) | (1,127) | (226) | 1,826 | 12 | 529 | 541 | |||||
Ending balance, value at Dec. 31, 2023 | R$ 8043 | R$ 37 | R$ 10 | R$ 488 | R$ 852 | R$ 2738 | R$ 3992 | R$ 713 | R$ 3279 |
Statement of consolidated cash
Statement of consolidated cash flow - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of cash flows [abstract] | |||
(Loss) profit before income tax | R$ 6192 | R$ 47 | R$ 17961 |
Adjustments for reconciliation of profit or loss | |||
Depreciation and amortization | 5,206 | 4,733 | 4,178 |
Results from equity-accounted investees | (7) | (35) | (5) |
Interest and foreign exchange gain/losses | 2,683 | 2,703 | 6,311 |
Provisions, net | (195) | 370 | 819 |
Provision - geological event in Alagoas | 2,307 | 1,520 | 1,340 |
PIS and Cofins credits - exclusion of ICMS from the calculation basis | (1,031) | ||
Loss for impairment of trade accounts receivable and others from clients | 83 | 38 | 9 |
Provision for impairment and loss on sale of property, plant and equipment | 196 | 131 | 115 |
Adjustments for reconciliation of profit | 4,081 | 9,508 | 29,698 |
Changes in operating working capital | |||
Financial investments | (2,279) | 1,530 | 297 |
Trade accounts receivable | 72 | 3,661 | (2,175) |
Inventories | 1,811 | 2,138 | (7,574) |
Taxes recoverable | 282 | 682 | 4,964 |
Other receivables | (216) | 311 | (199) |
Trade payables | 1,950 | 514 | 1,200 |
Taxes payable | (209) | (1,009) | (3,007) |
Sundry provisions | (476) | (724) | (703) |
Geological event in Alagoas | (2,686) | (2,743) | (2,928) |
Other payables | (186) | (391) | 805 |
Cash generated from operations | 2,144 | 13,477 | 20,377 |
Interest paid | (3,550) | (2,905) | (2,883) |
Income taxes | (866) | (1,621) | (2,707) |
Net cash (used in) generated from operating activities | (2,272) | 8,952 | 14,786 |
Proceeds from the sale of fixed and intangible assets | 72 | 2 | 40 |
Dividends received | 11 | 6 | |
Additions of investments in subsidiaries | (78) | (107) | |
Additions to property, plant and equipment and intangible assets | (4,530) | (4,848) | (3,421) |
Net cash used in investing activities | (4,525) | (4,947) | (3,381) |
Borrowings and debentures | |||
Issued | 10,991 | 6,418 | 16 |
Payments | (2,155) | (3,856) | (9,414) |
Braskem Idesa borrowings | |||
Issued | 1,233 | 7,272 | |
Payments | (576) | (45) | (7,995) |
Loan payment from non-controlling shareholders of Braskem Idesa | (34) | (10) | |
Lease | (1,209) | (929) | (842) |
Dividends paid | (7) | (1,350) | (5,993) |
Proceeds from the sale of investments of non-controlling interest | 316 | ||
Proceeds from non-controlling interests capital contributions | 280 | 21 | |
Net cash generated from (used in) financing activities | 8,873 | 225 | (16,966) |
Exchange variation on cash of foreign subsidiaries | (355) | (444) | 378 |
Increase (decrease) in cash and cash equivalents | 1,721 | 3,786 | (5,182) |
Represented by | |||
Cash and cash equivalents at the beginning of the year | 12,466 | 8,681 | 13,863 |
Cash and cash equivalents at the end of the year | 14,187 | 12,466 | 8,681 |
Increase (decrease) in cash and cash equivalents | R$ 1721 | R$ 3786 | R$ 5182 |
Operations
Operations | 12 Months Ended |
Dec. 31, 2023 | |
Operations | |
Operations | 1 Operations Braskem S.A. is a public corporation headquartered in Camaçari, Bahia (“BA”), which, jointly with its subsidiaries (hereinafter “Braskem” or “Company”), is controlled by Novonor S.A. (“Novonor”), which directly and indirectly holds interests of 50.11 38.32 The Braskem’s shares are traded on B3 S.A. Brasil, Bolsa, Balcão (“B3”), under the tickers BRKM3, BRKM5 and BRKM6, on the New York Stock Exchange (“NYSE”) under the ticker BAK and on the Madrid Stock Exchange (“LATIBEX”) under the ticker XBRK. Braskem is engaged, among others, in the manufacture, sale, import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air and industrial gases, as well as the provision of industrial services and the production, supply and sale of electric energy and natural gas for its own use and use by other companies. Braskem also invests in other companies. The Company has industrial plants in Brazil, the United States, Germany and Mexico. The units produce thermoplastic resins, such as polyethylene (“PE”), polypropylene (“PP”), polyvinyl chloride (“PVC”) and other basic petrochemicals. Operations of subsidiary Braskem Idesa S. A. P. I. (“Braskem Idesa”) On June 14, 2022, Braskem Idesa signed agreements with Advario B.V. (“Advario”) to sell 50 316 50 In addition, after the sale of non- controlling interest, Advario and Braskem Idesa made a capital contribution of R$ 193 169 24 In February 2023, Terminal Química signed a contract with ASIPONA (“Administraciones del Sistema Portuario Nacional”) to operate a dock that will serve as reception for the import of ethane at the port of Coatzacoalcos. In November 2023, Terminal Química concluded the process to obtain financing in the amount of R$ 1,975 408 760 157 Agreement for incorporation of the subsidiary Braskem Siam Company Limited (“Braskem Siam”) On August 16, 2023, the Company, through its subsidiaries Braskem Netherlands B.V. (“Braskem Netherlands”) and Braskem Europe GmbH (“Braskem Germany”), signed an agreement with Thai Polyethylene Company Limited (“TPE”), a wholly-owned subsidiary of SCG Chemicals Public Company Limited, to establish Braskem Siam to conduct the engineering project of a bio-ethanol dehydration plant to produce bio-ethylene using the Ethanol-to-ethylene EverGreen™ technology. Braskem holds 51 |
Basis of preparation of the con
Basis of preparation of the consolidated financial statements | 12 Months Ended |
Dec. 31, 2023 | |
Basis Of Preparation Of Consolidated Financial Statements | |
Basis of preparation of the consolidated financial statements | 2 Basis of preparation of the consolidated financial statements 2.1 Basis of accounting The consolidated financial statements (“financial statements”) were prepared and are presented in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). 2.2 Basis of presentation The financial statements were prepared under the historical cost basis, unless stated otherwise in the accounting policies. These financial statements have been prepared on a going concern basis. The material accounting policies applied in the preparation of these financial statements were included in the respective notes and are consistent in the fiscal years presented. The issue of these financial statements was authorized by the Executive Board, on April 11, 2024 . 2.3 Basis of consolidation The financial statements include the financial statements of Braskem S.A. and the following entities: Schedule of financial statements Total and voting interest (%) 2023, 2022 and 2021 Headquarter 2023 2022 2021 BM Insurance Company Limited ("BM Insurance") Bermuda 100 100 100 Braskem Argentina S.A. (“Braskem Argentina”) Argentina 100 100 100 Braskem Energy Ltda. ("Braskem Energy") Brazil 100 Braskem Finance Limited (“Braskem Finance”) Cayman Islands 100 100 100 Braskem Green S.A. ("Braskem Green") Brazil 100 100 100 Braskem Incorporated Limited ("Braskem Inc.") (i) Cayman Islands 100 Braskem Mexico, S. de RL de C.V. ("Braskem México") Mexico 100 100 100 Braskem Netherlands B.V. ("Braskem Holanda") Netherlands 100 100 100 Braskem Petroquímica Chile Ltda. (“Braskem Chile”) Chile 100 100 100 Braskem Ventures Ltda. ("Braskem Ventures") (ii) Brazil 100 100 Lantana Trading Co. Inc. (“Lantana”) Bahamas 100 Voqen Energia Ltda. ("Voqen") Brazil 100 100 Wise Plásticos Ltda ("Wise") (iii) Brazil 61.1 B&TC B.V. ("B&TC") Netherlands 60 60 Braskem America Finance Company ("Braskem America Finance") USA 100 100 100 Braskem America, Inc. (“Braskem America”) USA 100 100 100 Braskem Europe GmbH ("Braskem Alemanha") Germany 100 100 100 Braskem Idesa Mexico 75 75 75 Braskem Idesa Servicios S.A. de C.V. ("Braskem Idesa Serviços") Mexico 75 75 75 Braskem India Private Limited ("Braskem India") India 100 100 100 Braskem Mexico Proyectos S.A. de C.V. SOFOM ("Braskem México Sofom") Mexico 100 100 100 Braskem Mexico Servicios S. RL de C.V. ("Braskem México Serviços") Mexico 100 100 100 Braskem Netherlands Finance B.V. (“Braskem Holanda Finance”) Netherlands 100 100 100 Braskem Netherlands Green B.V. (“Braskem Holanda Green”) Netherlands 100 100 100 Braskem Netherlands Inc. B.V. (“Braskem Holanda Inc.”) Netherlands 100 100 100 Braskem Siam (iv) Thailand 51 Braskem Trading & Shipping B.V. ("BTS") (V) Netherlands 100 Builder Brasil Ltda. ("Builder Brasil") Brazil 100 100 Builder USA LLC. ("Builder USA") USA 100 100 Cetrel S.A. ("Cetrel") Brazil 63.70 63.70 63.70 Distribuidora de Água Camaçari S.A. ("DAC") Brazil 63.70 63.70 63.70 ER Plastics B.V. ("ER Plastics") Netherlands 60 60 Terminal Química (vi) Mexico 37.5 75 75 Special Purpose Entities Fundo de Investimento Caixa Júpiter Multimercado Crédito Privado Brazil 100 100 100 Fundo de Investimento Santander Netuno Multimercado Crédito Privado Longo Prazo ("FIM Netuno") Brazil 100 100 100 (i) Company dissolved in December 2022. (ii) Braskem Ventures represents the brand Oxygea, which is a Hub whose purpose is to foster the creation and development of new business initiatives with startups. (iii) In February 2023, Braskem acquired a 61.1% ownership interest in Wise, a Brazilian company engaged in mechanical recycling . The consideration transferred of this acquisition was R$ 173, and goodwill generated was R$ 75. (iv) Company incorporated in 2023 as described in Note 1. (v) Company incorporated in September 2023 to provide service of maritime freight and the sale and purchase transactions of chemical and petrochemical products. (vi) In March 2023, Braskem Idesa sold 50% of their non-controlling interest in Terminal Química (Note 1) . (a) Subsidiaries The Company controls an entity when it is exposed to, or entitled to, the variable returns originating from its involvement with the entity and has the capacity to affect such returns by exercising its power over the entity. The financial information of subsidiaries are included in these financial statements as from the date the Company obtains control until the date of the loss of control. (b) Equity method Investees The Company’s investments in entities with accounting treatment using the equity method consist of their interests in associates and joint ventures. Associates are those in which the Company, directly or indirectly, has significant influence, but not control or shared control, over the financial and operating policies. To be classified as a joint venture, a contractual agreement must exist that gives the Company shared control of the entity and granting to the Company the right to the net assets of the joint venture, and not the right to its specific assets and liabilities. Such investments are initially recognized at cost, which includes the expenses with the transaction costs. After initial recognition, the financial statements include the Company’s interest in the net profit or loss for the fiscal year profit or loss and other comprehensive (loss) income (“OCI”) of equity-accounted investees, in the investee until the date on which the significant influence or joint control ceases to exist. (c) Conversion of functional currency to presentation currency The assets and liabilities of foreign operations are translated into Brazilian Real at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into Brazilian Real at the average monthly exchange rates. Foreign currency differences (Note 2.4) from translation to presentation currency are recognized in other comprehensive (loss) income. Since Argentina’s economy is considered hyperinflationary, to translate the financial information of Braskem Argentina subsidiary, the assets, liabilities, equity, income and expenses are translated into Brazilian Real at the exchange rate at the reporting date. (d) Transactions eliminated in consolidation Intragroup balances and transactions and any unrealized revenues or expenses arising from intragroup transactions are eliminated. Unrealized gains originating from transactions with investees recorded using the equity method are eliminated against the investment proportionately to the Company’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment loss. 2.4 Functional and foreign currency These financial statements are presented in Brazilian Real, which is the functional currency of the Company. All amounts have been rounded to the nearest million, unless otherwise stated. The subsidiaries with a functional currency different from Brazilian Real (R$) are listed below: Schedule of subsidiaries with a functional currency Functional currency Braskem Alemanha, B&TC e ER Plastics Euro BM Insurance, Braskem America, Braskem America Finance, Braskem Holanda, Braskem Holanda Finance, Braskem Holanda Inc., Braskem México Sofom, Braskem Holanda Green, BTS, Braskem Siam e Terminal Química. U.S.dollar ("US$") Braskem Idesa, Braskem Idesa Serviços, Braskem México e Braskem México Serviços Mexican peso Braskem Argentina Argentinean peso Braskem Chile Chilean peso Braskem Índia Rupee 2.5 New standards or amendments for the current fiscal year and future requirements (a) New standards and pronouncements adopted in the current fiscal year In the current fiscal year, the Company identified a series of amendments under the IFRS standards that became effective for accounting periods starting on or after January 1, 2023: (a.1) Deferred taxes related to assets and liabilities arising from a single transaction (amendments to IAS 12) The Company adopted deferred tax related to assets and liabilities arising from a single transaction (amendments to IAS 12) from January 1, 2023. The amendments narrow the scope of initial recognition exemption to exclude transactions that give rise to equal and offsetting temporary differences. The main effect on the Company was related to the deferred taxes arising from leases. Previously, deferred tax on leases was recorded applying the "integrally linked" approach, resulting in a similar outcome as under the amendments, except for deferred tax asset or liability that was recognized on a net basis. Following the amendments, the Company recognized a separate deferred tax asset from its lease liabilities and a separate deferred tax liability from its right-of-use assets. However, there was no impact on statement of financial position since balances are qualified for offsetting. The amendments also had no impact on retained earnings and accumulated losses as of January 1, 2022. The main impact is related to the disclosure of recognized deferred tax assets and liabilities. (a.2) International Tax Reform - Pillar two model rules (Amendments to IAS 12) The Company is within the scope of the International Tax Reform – Pillar two model rules and operates in Netherlands and Germany, which have already passed the new legislation to implement the complementary global minimum tax rate. However, once the tax legislation recently passed in both countries will become effective only from January 1, 2024, there is no In accordance with amendments to IAS 12 in effect on December 31, 2023, the Company applied mandatory temporary exemption to the recognition of deferred taxes for the impacts of the complementary tax rate and assessed the new disclosures required about Pillar Two exposures. The Company may be subject to top-up tax in relation to its operations in the Netherlands, starting on January 1, 2024, depending on the profit of each type of business, there is a possibility that the effective rate in the Netherlands may vary by less or even more than 15 (a.3) Other amendments Other amendments to IFRS that were mandatory for accounting periods starting on or after January 1, 2023 but did not have any material impact on the disclosures or amounts presented in these financial statements - Definition of accounting estimates (amendments to IAS 8). - Definition of materiality for disclosure of accounting policies (amendments to IAS1 and IFRS Practice Statement 2). - Insurance contracts (IFRS 17). (b) Future requirements The amended standards already issued but not yet effective as of the reporting date are described below: - Classification of liabilities as current or non-current (amendments to IAS 1) – Effective on January 1, 2024. - Non-current liabilities with covenants (amendments to IAS 1) – Effective on January 1, 2024. - Lease liabilities in a sale and leaseback (Amendments to IFRS 16) – Effective on January 1, 2024. - Supplier finance arrangements (amendments to IFRS 7 and IAS 7) – Effective on January 1, 2024. Lack of exchangeability (amendments to IAS 21) – Effective on January 1, 2025. The Company plans to adopt these amended standards, when they become effective and are required. Management does not expect the adoption of the standards listed above to have a significant impact on the Company’s financial statements in future periods. |
Application of estimates and ju
Application of estimates and judgments | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Application of estimates and judgments | 3 Application of estimates and judgments In preparing these financial statements, Management has made judgments and estimates that affect the application of the Company’ accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results can differ from these estimates due to differences in the variables, assumptions or conditions used in making estimates. Judgments and estimates are reviewed on an ongoing basis and are based on historical experience and other factors, including expectations of future events that are deemed reasonable under the circumstances. Revision to estimates is recognized prospectively. Critical judgments and estimates applied by the Company in the preparation of these financial statements are presented in the following notes: 3.1 Judgments Information about judgments made on applying accounting policies that have significant effects on amounts recognized in the financial statements are included in the following notes: - Note 19.2: - Note 14(c): - Note 15: : 3.2 Assumptions and estimates uncertainties Information on assumptions and uncertainties of estimates at the reporting date that have a significant risk of resulting in material adjustments to the carrying amounts of assets and liabilities within the next fiscal year is included in the following notes: - Note 12(b) and 13: - Note 19.3 - Note 21.2: - Note 22(a): - Note 23: - Note 24: |
Risk management
Risk management | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Risk management | 4 Risk management The Company is exposed to market risks arising from variations in commodity prices, foreign exchange rates and interest rates, credit risks of its counterparties in cash equivalents, financial investments and trade accounts receivable, and liquidity risks to meet its obligations from financial liabilities. The Company adopts procedures for managing market and credit risks that are in conformity with its Financial Policy, which is reviewed by the Board of Directors quarterly. The purpose of risk management is to protect the Company’s cash flows and reduce the threats to the financing of its operating working capital and investment programs. 4.1 Market risks The Company prepares a sensitivity analysis for foreign exchange rate and interest rate risks to which it is exposed, presented in Note 19.8. Management of the interest rate benchmark reform and associated risks Overview The replacement of interbank offered rates (“IBORs”) for alternative, nearly risk-free interest rates (RFRs, or “Risk-Free Rates”) was concluded, with IBORs being discontinued in June 2023. The Company used IBORs as reference rates on several of its financial instruments, and due to this discontinuation, the Company took measures to replace such reference rates. While the transition forced modifications on contracts that used IBORs as reference rates, the Company had no significant impact on its risk management after its completion. Derivatives The derivative instruments traded on over-the-counter market are governed by contracts based on the International Swaps and Derivatives Association (“ISDA”) and agreed with counterparties in the international banking market. As part of the IBOR reform, the ISDA published a protocol that changed all agreements to include RFRs as replacement rates (fallback) for use upon discontinuation of the various IBORs. The protocol came into force as of January 25, 2021. The Company already have carried out its adoption. Liabilities As of December 31, 2023, the Company had already conducted the transition of its bank loans with interest rates linked to LIBOR in US$ (see notes 16 and 17). The benchmark interest rate of these loans was changed to guaranteed forward rates at the Security Overnight Financing Rate (SOFR). (a) Exposure to commodity price risks The main purposes of the commodity price risk management are: • Identifying potential origins of this risk; • Defining mitigation controls; • Establishing limits and powers to execute commodity derivative operations; and • Defining the controls of transactions. The commodity price risk arises from the dependence of the Company costs and revenues on commodity prices in the global market. In general, there is a strong correlation between prices of raw materials acquired for production and of the products sold in the petrochemical industry, forming a natural hedge. Mismatches inherent to the business may lead to occasional net risk exposures, which will be assessed and treated, such as: (i) when time lags between the pricing of the Company's raw materials and finished products creates a mismatch between prices, increasing the volatility of the petrochemical margin; (ii) one-off sales contracts at fixed prices without hedging the price of raw materials; and (iii) when different petrochemical price references have different levels of volatility and correlations between them. The Company actively manages pricing periods and indexers, considering the following exposure allocation conditions: (i) always observing the market conditions associated with the profile of indexes and the Company's operating dynamics; (ii) in case of transactions for exchange of international references, indexes associated with the petrochemical market are considered; and (iii) not increasing the risk associated with its margin by fixating only the price of Braskem’s own operating chain (raw materials or finished products). In order to manage the Risk associated with commodity price, the Company may either (i) adopt negotiation measures with suppliers or clients or (ii) contracts derivative transactions, which should always respect the volumes associated with the identified exposures, not generating financial leverage. (b) Exposure to foreign exchange risk Considering the dynamics of the international petrochemical market, where prices are mostly pegged to international US$ denominated references, the Company’s sales in Brazil and Mexico are strongly correlated to the US$. To mitigate the long-term exchange risk, since September 2016, the Company started to contract financial derivatives to compose a Long-Term Foreign Exchange Hedge Program, by US$ call and put option contracts, hedging expected cash flows over an 18-month horizon, as detailed in Note 19.5. In addition to this program, to maintain the balance between the US$ denominated assets and liabilities exposure, as established in its Financial Policy, the Company will maintain at least 70% of the net debt exposed to the US$. If economic benefits are expected, the Company may maintain a percentage of more than 70%, although subject to a sensitivity analysis of key financial indicators and proof of the inexistence of significant risk of deterioration of these indicators. (c) Exposure to interest rate risk The Company is exposed to the risk that a variation in floating interest rates causes an increase in its financial expenses due to payments of future interest. Debt denominated in foreign currency subject to floating rates is mainly subject to fluctuations in SOFR. Debt denominated in R$ is mainly subject to the variation in the Interbank Certificate of Deposit (“CDI”) rate. 4.2 Exposure to credit risk The transactions that subject the Company to the concentration of credit risks are mainly in bank checking accounts, financial investments, and trade accounts receivable in which the Company is exposed to the risk of the financial institution or customer involved. In order to manage this risk, the Company maintains bank current accounts and financial investments with major financial institutions, weighting concentrations in accordance with the credit rating and the daily prices observed in the Credit Default Swap ("CDS") market for the institutions, as well as netting contracts that minimize the total credit risk arising from the many financial transactions entered into by the parties. As of December 31, 2023, 27% of the amounts recorded as “Cash and cash equivalents” (Note 5) and “Financial Investments” (Note 6) were allocated to financial institutions that had offset agreements with the Company. The obligations under these agreements are accounted for under “Borrowings” (Note 16). The effective netting of these amounts is possible only in the event of default by one of the parties. With respect to the credit risk of customers, the Company protects itself by performing analysis before granting credit and obtaining guarantees when considered necessary, including credit insurance. The maximum exposure to credit risk of non-derivative financial instruments on the reporting date is the sum of their carrying amounts less any impairment losses. 4.3 Liquidity risk The Company has a calculation methodology to determine a minimum cash “monthly vision” (30-day horizon) and a minimum cash “yearly vision” (up to 12-month horizon) for the purpose of, respectively: (i) monitoring the liquidity needed to comply with obligations of the following month; and (ii) monitoring the Company´s liquidity during potential crisis. The amounts to determine the minimum cash “yearly vision” are calculated based on the projected operating cash generation, less short-term debts and working capital needs. The amounts used for determining the minimum cash “monthly vision” consider the projected operating cash disbursement, debt service and investments in projects, as well as the planned disbursement for derivatives maturing in the period, among other items. According to its Financial Policy, the Company uses as a minimum cash the greater of these two references. In December 2021, the Company, in keeping with its commitment to maintain its financial liquidity, renewed an international revolving credit facility in the amount of R$ 5.2 billion (US$1 billion), which expires in 2026. This credit line may be used without restrictions to improve the Company’s credit liquidity or in the event of deterioration in the macroeconomic scenario. As of December 31, 2023, this new credit line had not been used. Braskem's financial liabilities by maturity, including the amounts due under the Leniency Agreement (Note 22), are shown in the table below. These amounts are calculated based on cash flows not discounted that consider future financial charges and may not be reconciled with the amounts disclosed in the statement of financial position. Schedule of financial liabilities by maturity Until Between one Between two More than one year and two years and five years five years Total Trade payables 13,522 13,522 Borrowings and debentures 2,138 3,000 11,197 64,359 80,694 Braskem Idesa borrowings 950 71 979 15,403 17,402 Derivatives 60 27 105 29 222 Loan from non-controlling shareholder of Braskem Idesa 3,288 3,288 Leniency agreement 847 206 1,053 Lease 1,347 932 1,817 1,282 5,377 At December 31, 2023 18,864 4,236 14,098 84,361 121,558 Interest discounted to present value (1,000) (2,773) (1,956) (41,484) (47,213) Carrying amount 17,864 1,463 12,141 42,877 74,345 4.4 Capital management The Company’s policy is to maintain capital management to ensure the continuity and development of its business and to maintain the trust of investors, creditors and the general market. The capital structure, according to the Management view, considers the balance between own capital and net debt. This composition meets the Company’s policy of providing a consistent return to shareholders and other stakeholders. This structure also allows borrowing costs to maximize shareholder remuneration. The company’s capital structure was in 2023 and 2022 as follows (Ex- Braskem Idesa): Schedule of capital structure Capital structure 2023 2022 Equity attributable to the Company's shareholders 3,992 5.9 7,322 11.3 Third-party capital 64,038 94.1 57,445 88.7 Total 68,030 100 64,767 100 Due to the impact of US$ on the Company’s operations, Management believes that the own capital used for capital management purposes should be measured in US$. Moreover, the Company may temporarily maintain another capital structure, for example, during periods of growth, when the Company may finance a large portion of its projects through borrowings, provided that this option maximizes return for shareholders once the financed projects start operating. In order to adjust and maintain the capital structure, Management may also consider the sale of non-strategic assets, the issue of new shares or even adjustments to dividend payments. As is the case of liquidity, capital is managed at the consolidated level, except for the liquidity and capital of the subsidiary Braskem Idesa and other subsidiaries with non-controlling interest, whose specific management is concentrated at the subsidiaries level. |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Cash and cash equivalents | 5 Cash and cash equivalents Schedule of cash and cash equivalents 2023 2022 Cash Domestic market 1,555 517 Foreign market (i) 3,784 5,557 Cash equivalents Domestic market 7,186 3,685 Foreign market (i) 1,662 2,707 Total 14,187 12,466 (i) On December 31, 2023, includes the amount of R$ 1,284 of cash and R$ 278 of cash equivalents (2022: R$ 932 of cash and R$ 1,252 of cash equivalents) of Braskem Idesa and its subsidiaries, which cannot be used by the other subsidiaries of the Company. Cash equivalents are represented mainly by fixed-income instruments and time deposits, such as bank deposit certificates (“CDBs”), treasury bonds, financial bills, debentures, and shares of fixed income investment funds. These assets may be directly held by the Company or through its exclusive funds, FIM Júpiter and FIM Netuno. Average yield of cash equivalents is presented jointly with financial investments (see note 6). The cash equivalents in foreign market consist of Time Deposit and interest bearing accounts held outside of Brazil. |
Financial investments
Financial investments | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Financial investments | 6 Financial investments Schedule of financial investment 2023 2022 Fair value through profit or loss LFT´s and LF´s (i) 4,680 1,789 Restricted funds investments (ii) 164 305 Other 130 218 Total 4,974 2,312 Current assets 4,956 2,295 Non-current assets (iii) 18 17 Total 4,974 2,312 (i) These refer to Brazilian floating-rate government bonds (“LFTs”) issued by the Brazilian federal government and floating-rate bonds (“LFs”) issued by financial institutions, whose purpose is the immediate negotiation or future sale. (ii) Includes the following amounts: R$ 115 (2022: R$ 175) in restricted funds used in the Program for Relocation of Residents in Alagoas (Note 24.1(i)); and R$ 49 (2022: R$ 130) that its use depends on complying with the contractual obligations of the debentures and borrowings. See Note 15(e). (iii) On the statement of financial position, the balance of non-current assets is presented under Other receivables. In 2023, financial investments and cash equivalents (Note 5) in Brazilian Real had an average yield of 101.37 102.59 5.30 1.18 |
Trade accounts receivable
Trade accounts receivable | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Trade accounts receivable | 7 Trade accounts receivable The Company’s average receivables term is generally 30 days, therefore, the carrying value of the trade accounts receivable approximates their fair value. The Company realizes part of its trade accounts receivable through the sale of trade accounts receivable to funds and financial institutions that acquire receivables. These operations are not entitled to recourse and the risks and benefits over the receivables are transferred and the trade accounts receivable are derecognized. As of December 31, 2023, the amounts of trade accounts receivable transferred and derecognized maturing after December 31, 2023 was R$ 4.1 3.5 Loss recognized at the date of transfer of the abovementioned receivables was R$ 56 73 Schedule of trade accounts receivable Note 2023 2022 Customers Domestic market Third parties 1,273 1,533 Related parties 9 14 14 1,287 1,547 Foreign market Third parties 1,808 1,797 1,808 1,797 Expected credit losses (i) (185) (112) Total 2,910 3,232 Current assets 2,910 3,232 Non-current assets (i) Total 2,910 3,232 (i) The Company recognizes provision for credit losses (“ECL”) for trade accounts receivable based on the criteria and assumptions presented below, by applying a matrix of ECL measurement, using information that reflect current and future conditions, to the extent such data are available. Criterion Assumptions Receivables overdue for up to 180 days and coming due, weighing each client’s operation risk Percentages defined for receivables are based on the historical average delay in the last two years for the similar maturity periods and risk rating. Receivables under renegotiation process The provisioning percentage for renegotiations considers a performance study of past renegotiations, adjusted to each specific case. Receivables overdue for more than 180 days, receivables in collection by the courts and receivables from clients classified as very high risk For these receivables, the Company understands there was significant deterioration of credit risk, and the loss is estimated at the total value of the receivables, except for receivables that are in the process of being paid. In credit risk management, guarantees are pledged by the counterparties, which mainly consist of sureties and letter of credit granted by prime banks (Only banks with the minimum risk classification equal to BBB- by Fitch Rating or Baa3 by Moody’s Investor or BBB- by Standard & Poor’s), credit insurance and mortgage assets. The guarantees obtained by the Company did not change significantly as of December 31, 2023, and 2022. The guarantees received are considered in measuring both the credit risk of each counterparty and the ECL. For details on Company’s policy and credit risk management see note 19.7(a). The table below shows ECL by maturity: Schedule of trade accounts receivable by maturity 2023 2022 Trade accounts receivable Expected credit losses Total Trade accounts receivable Expected credit losses Total Accounts receivables not past due 2,355 (128) 2,227 2,688 (35) 2,653 Past due securities: Up to 90 days 609 (4) 605 536 (7) 530 Between 91 to 180 days 85 (7) 78 25 (3) 22 Above 180 days 46 (46) 95 (67) 28 Total 3,095 (185) 2,910 3,344 (112) 3,232 The changes in the expected credit loss are presented below: Schedule of changes in allowance for doubtful accounts 2023 2022 2021 Balance at the beginning of the year (112) (132) (173) Additions (195) (87) (145) Reversals 112 71 150 Write-off of receivables 14 36 37 Additions by business combination (4) Balance at the end of the year (185) (112) (132) Write-off The gross carrying amount of a financial asset is written-off when the Company has no reasonable expectations of recovering a financial asset in its entirety or a portion thereof. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Inventories Abstract | |
Inventories | 8 Inventories Schedule of inventory 2023 2022 Finished goods 7,164 8,558 Semi-finished goods 505 663 Raw materials, production inputs and packaging 2,480 2,748 Maintenance materials 934 870 Advances to suppliers 157 124 Imports in transit 1,292 1,067 Total 12,532 14,030 Inventories are measured at the lower of cost and net realizable value. The cost of inventories is recorded at the weighted average cost. In the case of manufactured inventories, besides raw materials and other consumables, cost includes an appropriate share of production overheads based on normal operating capacity. In addition, net realizable value was reduced by R$ 192 430 |
Related parties
Related parties | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Related parties | 9 Related parties Related-party transactions are carried out at previously agreed prices and conditions, in accordance with the Company's policy on related-party transactions. Related party transactions mainly refer to, but are not limited to: Receivables: (i) receivables for sale of chemicals, petrochemicals, energy, resins and other products/services and (ii) dividends and interest on equity receivable. Payables: (i) acquisition of raw materials, finished products, consumer goods, services of transportation, storage, maintenance of equipment and other services; (ii) loans payable; (iii) leases; (iv) and dividends payable. Amounts in profit or loss: (i) sale of chemicals, petrochemicals, lease services and other products/services; (ii) acquisition of raw materials, finished products and services; (iii) charges related to loans and exchange variation The following tables summarizes transactions with related parties: Schedule of related party transactions Balances at December 31, 2023 Balances at December 31, 2022 Statement of financial position Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Assets Current Trade accounts receivable 8 6 14 12 2 14 Inventories(advance to suppliers) 56 56 61 61 Dividends and interest on capital 3 3 4 4 Other receivables - Related parties 11 11 Non-current Other receivables - Related parties 26 30 56 6 6 Total assets 90 39 129 11 79 6 96 Liabilities Current Trade payables 33 1,057 13 1,103 126 138 14 278 Other payables 255 255 233 233 Non-current Trade payables 3 3 Loan from non-controlling shareholders of Braskem Idesa 2,490 2,490 2,498 2,498 Total liabilities 33 1,312 2,503 3,848 129 371 2,512 3,012 Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Transactions Sale of products 123 337 460 182 438 620 172 541 713 Purchases of raw materials, finished goods services and utilities (254) (16,185) (155) (16,595) (334) (22,900) (25) (23,259) (306) (19,833) (7) (20,146) Financial income 434 434 190 190 Financial expenses (141) (141) (1) (34) (149) (184) (0) (12) (246) (258) General and administrative expenses (64) (64) (45) (45) (67) (67) Other income (expenses) (11) 27 1 17 51 51 (217) (217) (a) New and/or renewed agreements with related companies As provided for in Braskem’s bylaws, the Board of Directors has the exclusive power to approve any contract with related parties that exceed R$ 20 60 The related parties that have significant relationship with the Company are as follows: Novonor and its direct and indirect subsidiaries: - Tenenge Montagem e Manutenção Ltda. (“Tenenge”) In February 2022, the Company entered into an electromechanical assembly service agreement to expand the production capacity of the Ethylene-Ethanol Unit located in Trunfio, Rio Grande do Sul with Tenenge, with duration from February 9, 2022 to July 31, 2023. The amount of the agreement was R$ 205 Petrobras and its indirect joint ventures: - Petrobras Transporte S.A. (“Transpetro”) In January 2021, the Company entered into an agreement with Transpetro involving the provision of services to Braskem, namely tanker vessel unloading in the Madre de Deus Waterway Terminal (“TEMADRE”), tank storage, product transportation via the pipeline “ORMADRE” that connects TEMADRE to REFMAT, and the transportation of naphtha via pipeline from TEMADRE to the facilities of the carrier located in the municipality of Camaçari/BA. The duration of the agreement is from February 1, 2021 to December 31, 2025, and the total estimated amount of the agreement is R$ 203 - Petrocoque S.A. Indústria e Comércio (“Petrocoque”) In March 2021, the Company executed an amendment to extend the agreement with Petrocoque, for purchase of steam to be used as energy by Polyethylene plants. This amendment, summed to total amount of the original agreement, executed in September 2009, amounts to R$ 433 - Refinaria Alberto Pasqualini In October 2021, the Company entered into a purchase agreement with Petrobras for 108 kton/year of polymer-grade propylene from REFAP, with delivery to Braskem’s polypropylene industrial units, PP1 and PP2, in Triunfo, Rio Grande do Sul. This agreement was in force until October 31, 2022. The amount of the agreement was R$ 460 - Refinaria Capuava (“RECAP”) In December 2021, the Company entered into a purchase agreement with Petrobras for 140 kton/year of polymer-grade propylene from RECAP, with delivery to Braskem’s PP4 industrial unit (“PP4”) in Mauá, São Paulo. This agreement is in force from January 1, 2022 to May 17, 2026. The maximum amount of the agreement is estimated at R$ 3.3 - Refinaria Duque de Caxias (“REDUC”) In December 2021, the Company entered into a purchase agreement with Petrobras for 100 kton/year of polymer-grade propylene from REDUC, with delivery to Braskem’s PP5 industrial unit (“PP5”) in Rio de Janeiro. This agreement is in force from January 1, 2022 to May 17, 2026. The maximum amount of the agreement is estimated at R$ 2.4 - Refinaria Henrique Lage (“REVAP”) In December 2021, the Company entered into a purchase agreement with Petrobras for 120 kton/year and 40 kton/year of polymer-grade propylene from REVAP, with delivery to Braskem’s PP3 and PP4 industrial units, respectively. This agreement is in force from January 1, 2022 to May 3, 2028 for the first 120 kton/year and from May 4, 2028 to June 30, 2029 for the remaining 40 kton/year. The maximum amount of the agreement is estimated at R$ 4.7 - Refinaria Planalto de Paulínia (“REPLAN”) In December 2021, the Company entered into a purchase agreement with Petrobras for 220 kton/year of polymer-grade propylene from REPLAN, with delivery to Braskem’s PP3 industrial unit (“PP3”) in Paulínia, São Paulo. This agreement is in force from January 1, 2022 to May 3, 2028. The maximum amount of the agreement is estimated at R$ 8.1 - Refinaria Presidente Getúlio Vargas (“REPAR”) In December 2021, the Company entered into a purchase agreement with Petrobras for 150 kton/year of polymer-grade propylene from REPAR, with delivery to Braskem’s PP3 and PP4 industrial units. This agreement is in force from January 1, 2022 to December 6, 2029. The maximum amount of the agreement is estimated at R$ 6.8 - Companhia de Gás da Bahia (“Bahiagás”) In December 2021, the Company entered into an amendment to the agreement governing the supply of natural gas by Bahiagás to Braskem, via local gas pipeline. This amendment was in force until December 2022. The amount of the amendment was R$ 924 - Companhia de Gás do Estado do Rio Grande do Sul (“Sulgás”) In March 2022, the Company entered into 246 - Gás de Alagoas S.A. (“Algás”) In March 2022, the Company entered into an amendment to the agreement with Algás for the supply of natural gas to Braskem units located in the state of Alagoas, via a local gas distribution pipeline, 1.5 Since July 2022, Petrobras has no equity interest in Bahiagás, Sulgás and Algás and they ceased to be a related party to Braskem. Non-controlling shareholders of Braskem Idesa: - Grupo Idesa, S.A. de C.V. - Etileno XXI, S.A. de C.V. Loan payable to the non-controlling shareholders of Braskem Idesa, with maturity in December 2029 and contractual interest rate of 7% p.a. (b) Key management personnel compensation The expenses related to the remuneration of key management personnel, including the Board of Directors, the Chief Executive Officer and vice-presidents, recorded in the profit or loss for the year, were as follows: Schedule of key management personnel compensation Statement of profit or loss transactions 2023 2022 2021 Remuneration Short-term benefits 63 83 120 Post-employment benefit 1 2 2 Long term incentive plan 10 17 14 Total 74 102 136 Compensation of the Company’s key management personnel includes salaries, short and long-term incentives, non-cash benefits and contributions to a post-employment defined benefit plan (see Note 25). |
Taxes recoverable
Taxes recoverable | 12 Months Ended |
Dec. 31, 2023 | |
Taxes Recoverable | |
Taxes recoverable | 10 Taxes recoverable Schedule of taxes recoverable 2023 2022 Parent Company and subsidiaries in Brazil Value-added tax on sales and services (ICMS) 604 410 ICMS - credits from PP&E 391 303 Social integration program (PIS) and social contribution on revenue (Cofins) (i) 353 560 PIS and Cofins - credits from PP&E 461 546 Other 81 243 Foreign subsidiaries Value-added tax ("IVA") 832 580 Other 109 132 Total 2,831 2,774 Current assets 1,461 1,156 Non-current assets 1,370 1,618 Total 2,831 2,774 (i) In August 2023, through Decree 11,668/2023, the Federal Government regulated the necessary conditions for the use of the Special Regime for the Chemical Industry (REIQ), applicable since January 1, 2023, as established in Federal Law 14,374/2022. For the year ended December 31, 2023, the Company, fully achieved all the conditions of said decree recognizing in net revenue the gain of R$ 297 of such tax credit. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Investments Abstract | |
Investments | 11 Investments See the accounting policy in Note 2.3 Basis of Consolidation. (a) Information on investments Schedule of Information on investments Net profit (loss) for the year Equity Note 2023 2022 2021 2023 2022 Jointly-controlled investment Refinaria de Petróleo Riograndense S.A. (i) 21 76 127 110 Bioglycols LLC (ii) (16) (4) 81 81 Associate Borealis Brasil S.A. (iii) 70 54 45 288 252 (i) RPR's main activities are the refining, processing and sale and import of oil, its byproducts and correlated products. The percentage of Braskem's equity interest in the capital of RPR on December 31, 2023 is 33.20% (2022: 33.20%). (ii) Bioglycols was incorporated in March 2022. Its main activities are the production and marketing of monoethylene glycol (MEG) and monopropylene glycol (MPG). (iii) Borealis’ main activities are the production and commercialization of petrochemical byproducts and correlated products. The percentage of Braskem’s ownership interest in the capital of Borealis on December 31, 2023 is 20% (2022: 20%). (b) Changes in investments Schedule of changes in investments Borealis RPR Bioglycols LLC Other Total Balance at 2021 41 17 - 1 59 Dividends and interest on equity (5) (4) (9) Results from equity-acoounted investees 11 25 (1) 35 Other comprehensive income (1) (1) Capital increase 42 23 65 Balance at 2022 47 37 41 24 149 Dividends and interest on equity (7) (2) (9) Results from equity-acoounted investees 17 7 (1) (16) 7 Other comprehensive income 1 1 3 5 Other 13 13 Balance at 2023 57 43 41 24 165 (c) Impact on the consolidation of Braskem Idesa The Company presents the summarized financial information of the subsidiary Braskem Idesa and its subsidiaries, which has a significant non-controlling interest: Schedule of impact on the consolidation of brasken idesa Braskem Idesa (i) Statements of financial position 2023 2022 Current assets 3,525 3,685 Non-current assets 16,477 16,108 Total assets 20,002 19,793 Current liabilities 2,138 2,427 Non-current liabilities 22,276 22,070 Total liabilities 24,414 24,497 Shareholders' equity (4,412) (4,704) Total liabilities and shareholders' equity 20,002 19,793 Braskem Idesa (i) Statement of profit or loss 2023 2022 2021 Net revenue 4,455 5,953 6,333 Loss for the year (1,361) (1,527) (231) Statement of cash flows Net cash (used in) generated from operating activities (863) 1,349 1,961 Net cash used in investing activities (791) (695) (172) Net cash generated from (used in) financing activities 927 (220) (1,004) Exchange variation on cash of foreign subsidiaries 105 (23) 84 (Decrease) increase in cash and cash equivalents (622) 411 869 (i) Braskem Idesa with its subsidiaries Braskem Idesa Servicios and Terminal Química. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Property, plant and equipment | 12 Property, plant and equipment Items of property, plant and equipment are measured at the historical cost of acquisition or construction, which includes capitalized borrowing costs, less accumulated depreciation and any accumulated impairment losses. The machinery, equipment and facilities require inspections, replacement of components and maintenance at regular intervals. The Company makes shutdowns at regular intervals that vary from two to six years to perform these activities. Depreciation starts when the assets become available and is calculated using the straight-line method, based on the useful life estimated by the Company’s technicians in the management of the plants. The useful lives of assets are reviewed at each reporting date. The main factors taken into consideration in the definition of the useful life of the assets that compose the Company’s industrial plants are the information of manufacturers of machinery and equipment, level of the plants’ operations, quality of preventive and corrective maintenance and the prospects of technological obsolescence of assets. The estimated useful lives applied to the assets determined the following average percentage of rates per year: Schedule of estimated useful lives 2023 2022 Buildings and improvements 3.09 3.03 Machinery, equipment and installations 7.87 7.32 Furniture and fixtures 10.08 10.06 IT equipment 21.62 21.03 Lab equipment 9.51 9.59 Security equipment 9.80 10.50 Vehicles 18.81 19.51 Other 16.36 18.09 Borrowing costs are capitalized when associated with ongoing projects, using: (i) the average rate of the financings; and (ii) the exchange variation portion that corresponds to any positive difference between the average rate of financing in the domestic market and the rate cited in item (i). In 2023, capitalized borrowing costs amounted to R$ 298 203 8.07 8.51 As of December 31, 2023, the acquisition of property, plant and equipment with payment installments is R$ 280 525 (a) Reconciliation of carrying amount Schedule of reconciliation of carrying amount Land Buildings and Improvements Machinery, Equipment and Facilities Projects and Stoppage in Progress (i) Other Total Balance as of December 31, 2021 688 5,181 26,292 4,449 613 37,223 Acquisitions 2 297 4,644 8 4,951 Additions through acquisition of ER Plastics 21 56 77 Capitalized financial charges 203 203 Foreign currency translation adjustment (20) (122) (656) (39) (8) (845) Transfers by concluded projects 87 2,688 (2,915) 140 Disposals (112) (34) (3) (149) Depreciation (203) (3,347) (147) (3,697) Net book value 668 4,966 25,218 6,308 603 37,763 Cost 668 8,528 58,708 6,308 2,317 76,529 Accumulated depreciation (3,562) (33,490) (1,714) (38,766) Balance as of December 31, 2022 668 4,966 25,218 6,308 603 37,763 Acquisitions 14 312 3,780 8 4,114 Additions through acquisition of Wise 9 34 1 3 47 Capitalized financial charges 298 298 Foreign currency translation adjustment (7) 255 189 23 (5) 455 Transfers by concluded projects 2 188 3,100 (3,713) 424 Disposals (60) (3) (180) (147) (6) (397) Depreciation (219) (3,469) (187) (3,875) Net book value 603 5,210 25,204 6,550 840 38,405 Cost 603 9,120 61,307 6,550 2,717 80,295 Accumulated depreciation (3,910) (36,103) (1,877) (41,890) Balance as of December 31, 2023 603 5,210 25,204 6,550 840 38,405 (i) As of December 31, 2023, the main amounts recorded under this item corresponded to expenditures with scheduled maintenance shutdowns at plants in the amount of R$ 2,633 (2022: R$ 2,343), capitalized financial charges in the amount of R$ 345 (2022: R$ 365), inventories of spare parts in the amount of R$ 631 (2022: R$ 567), strategic projects ongoing in Brazil in the amount of R$ 395 (2022: R$ 714) and in Braskem America in the amount of R$ 117 (2022: R$ 126). The remainder amount of R$ 2,429 (2022: R$ 2,193) corresponds mainly to projects for maintaining the production capacity of plants. (b) Impairment loss At least annually, the Company conducts an analysis to determine if there are indicators that the book value of property, plant and equipment may not be recoverable. This analysis is conducted to assess the existence of scenarios that could adversely affect its cash flow and, consequently, its ability to recover the investment in such assets. These scenarios arise from issues of a macroeconomic, legal, competitive, or technological nature. The following are considered by the Company as relevant points and are observed in this analysis: (i) the possibility of an oversupply of products manufactured by the Company or of a significant reduction in demand due to adverse economic factors; (ii) the prospects of material fluctuations in the prices of products and inputs; (iii) the likelihood of the development of new technologies or raw materials that could materially reduce production costs and consequently impact sales prices, ultimately leading to the full or partial obsolescence of the industrial facilities of the Company; and (iv) changes in the general regulatory environment that make the production process of Braskem infeasible or that significantly impact the sale of its products. The recoverable amount of an asset or Cash-Generating Unit (“CGU”) is the greater of its value in use and its fair value less sales costs. Value in use is based on estimated future cash flows, discounted to present value using a discount rate before tax that reflects the current market assessments of the time value of money and the specific risks related to the asset or CGU. When identifying whether cash inflows from an asset (or group of assets) are largely independent of cash inflows from other assets (or groups of assets), the Company considers several factors, such as: product lines, individual locations and the way Management monitors and makes decisions about its business. No events indicated that the carrying amount exceeds its recoverable amount as of December 31, 2023 and 2022. |
Intangible assets
Intangible assets | 12 Months Ended |
Dec. 31, 2023 | |
Intangible Assets | |
Intangible assets | 13 Intangible assets Schedule of changes in intangible assets Customers Brands Software and suppliers Nota Goodwill and patents licenses agreements Total Net book value 2,059 314 369 136 2,878 Cost 2,059 549 1,124 393 4,125 Accumulated amortization (235) (755) (257) (1,247) Balance as of December 31, 2021 2,059 314 369 136 2,878 Acquisitions 1 159 1 161 Additions and goodwill from business combination of ER Plastics 28 21 67 116 Foreign currency translation adjustment (5) (5) (10) Other write-offs (10) (10) Amortization (11) (80) (22) (113) Net book value 2,087 320 433 182 3,022 Cost 3,216 566 1,268 461 5,511 Accumulated amortization (1,129) (246) (835) (279) (2,489) Balance as of December 31, 2022 2,087 320 433 182 3,022 Acquisitions 115 115 Additions from business combination of Wise 75 75 Foreign currency translation adjustment 11 15 4 (22) 8 Amortization (12) (83) (17) (111) Net book value 2,173 323 468 143 3,108 Cost 3,302 581 1,386 439 5,708 Accumulated amortization (1,129) (258) (918) (296) (2,600) Balance as of December 31, 2023 2,173 323 468 143 3,108 (a) Goodwill Goodwill is measured as the excess between the consideration transferred and to be transferred to obtain control and the fair value of the identified assets and liabilities assumed from the acquired entity. Goodwill amounts were allocated to CGUs that benefit from the synergies arising from the business combination. The CGUs were determined by management based on the stewardship and integration of the businesses, representing the smallest group of assets for which independent cash inflows are generated. The Company’s goodwill balance was allocated to the following CGUs: Schedule of company goodwill Cash-generating unit goodwill Petrochemical complex Northeast 668 Petrochemical complex South 1,391 ER Plastics 39 Wise Plásticos 75 Total 2,173 Goodwill is tested for impairment annually or when events and circumstances indicate its carrying amount may not be recoverable. An impairment loss is recognized when the carrying amount of a CGU exceeds its recoverable value. The Company tests its CGUs for impairment based on the value in use method, which is supported by cash generation projections approved by the senior management, taken from the Company’s five-year Business Plan (see Note 21) and the Management plan for a period longer than five years, to reflect the industry cycle patterns, with a total projection a period of 10 years. The Company determined the perpetuity growth rate based on historical inflation rates. Cash flows as estimated and to perpetuity are adjusted to present value at a discount rate based on the Weighted Average Cost of Capital (WACC). Below are the results obtained in the impairment test performed by the Company in the current period for all material goodwill balances. No impairment loss was recognized, as the recoverable value is higher than the carrying amount: Schedule of goodwill impairment testing Carrying Recoverable amount (i) amount Petrochemical complex Northeast 5,373 12,552 Petrochemical complex South 6,526 30,815 (i) Includes the goodwill and other items attributed directly to the CGU . The key assumptions used by management to project its cash flows were: Schedule of key assumptions used by management Key assumption Petrochemical complex Northeast Petrochemical complex South Sales volume (average % of annual growth) 1.62% 1.80% Investment in maintenance (growth %) 6.15% 8.35% Average FX rate in USD 5.19 5.19 Average inflation rates % 3.34% 3.34% Perpetuity growth (%) 3.10% 3.10% Pre-tax WACC discount rate 14.62% 15.47% Post-tax WACC discount rate 11.77% 11,77% The main assumptions above are based on past performance and assessments performed by external consulting firm, revised and complemented based on Management’s experience. The final amounts consider specific internal committee meetings and the expertise of the Company’s specialists in preparing the benchmarking for each market, as well as external market sources. Based on Management’s assessment, potential and reasonable changes in main assumptions do not cause the carrying amount to exceed the recoverable value of its CGUs. (b) Intangible assets with definite useful lives These intangible assets are measured at historical cost of acquisition or at fair value when acquired in a business combination, deducted from accumulated amortization and, if applicable, accumulated impairment loss. Subsequent costs are capitalized only when they increase the future economic benefits incorporated into the specific asset to which they are related. Amortization is calculated using the straight-line method based on the estimated useful life of the items, and reviewed every reporting date, as follows: Schedule of amortization estimated useful life - Brands and patents 10 20 - Software licenses and rights of use 01 10 - Customers and suppliers’ agreements 14 28 Expenditure on research activities are recognized in profit or loss as incurred. Development expenditure are capitalized only when the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Company intends to and has sufficient resources to complete development and to use or sell the asset. Based on Management’s assessment, there were no events indicating that the carrying amount exceeds its recoverable amount as of December 31, 2023 and 2022. |
Right-of-use assets and lease l
Right-of-use assets and lease liability | 12 Months Ended |
Dec. 31, 2023 | |
Right-of-use Assets And Lease Liability | |
Right-of-use assets and lease liability | 14 Right-of-use assets and lease liability The Company assesses whether a contract is or contains a lease if the contract transfers the right to control the use of an asset identified for a certain period in exchange for consideration. The Company leases railcars, machinery and equipment, vessels, buildings, vehicles and IT equipment. Such leases are negotiated individually and are subject to specific terms and conditions. As a lessee, the Company, to determine the enforceable term of the lease, considers all facts and circumstances that create an economic incentive for exercising the option to extend the lease. (a) Right-of-use assets Leases are recognized as a right-of-use asset and a corresponding liability on the date on which the leased asset becomes available to the Company. The right-of-use asset is measured at the cost composed of: • The amount of the initial measurement of the lease liabilities; • Any lease payment made up to the start of the lease, deducting any incentive received; • Any initial direct cost; and • Dismantling costs. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Company by the end of the lease term or the cost of the right-of-use asset reflects that the Company will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. Changes in right-of-use assets: Schedule of changes in right-of-use assets Balance as of Foreign currency Balance as of 12/31/2021 Acquisitions Amortization Disposal translation adjustment 31/12/2022 Rail cars 986 73 (173) (5) (54) 827 Machinery and equipment 793 1,147 (330) (6) (1) 1,603 Vessels 697 811 (386) (2) 1,120 Buildings and constructions 265 102 (75) 292 Vehicles 29 103 (26) 106 Computer equipment and goods 9 (4) 5 Total 2,779 2,236 (994) (11) (57) 3,953 Balance as of Foreign currency Balance as of 31/12/2022 Acquisitions Amortization Disposal (i) translation adjustment 31/12/2023 Rail cars 827 237 (173) (32) (38) 821 Machinery and equipment 1,603 553 (564) 1,592 Vessels 1,120 276 (452) (5) (28) 911 Buildings and constructions 292 149 (95) (40) 306 Vehicles 106 143 (54) (9) 186 Computer equipment and goods 5 3 (4) 4 Total 3,953 1,361 (1,342) (46) (106) 3,820 (i) The amount of disposal in 2023 mainly refers to sublease contracts of rail cars signed in the year, which was R$ 29 (refers note 14(e)). The Company has elected not recognize right-of-use assets and lease liabilities for the following leases or lease payments: · Short-term leases; · Leases for which the underlying assets is of low value; and · Variable lease payments. To optimize lease costs during the lease term, the Company must provide guaranteed residual amounts for the leased asset. For certain lease agreements for rail cars, the Company guaranteed any difference between the flow of contractual payments and the fair value of these assets upon the end of the enforceable term, limited to R$ 61 66 (b) Lease liability The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease, or if that rate cannot be readily determined, the Company’s incremental borrowing rate. The lease liability considers the net present value of the following lease payments: • Fixed payments discounting any incentive received; • Variable lease payments that depend on an index or rate, initially measured using the index or rate as at the commencement date; • Expected payables to the lessor referring to the residual value guarantees; • Exercise price of a purchase option, if it is reasonably certain that lessee will exercise such option; and • Payment of fines for termination of the lease if the contractual terms provide for lessee’s exercise option. Some leases contain extension options that can be exercised by the Company. The extension options held are exercised only by the Company and not by the lessors. The Company assesses at lease commencement date whether it is reasonably certain to exercise the options if there is a significant event or significant changes in circumstances within its control. The Company’s incremental borrowing rate corresponds to the one the Company would have pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use in a similar economic environment. The weighted average incremental rate applied in 2023 was 7.33 5.80 Changes in lease liabilities: Schedule of changes in lease liabilities 2023 2022 Balance as of January 01 4,241 3,156 Acquired 1,283 2,232 Additions through merger of ER Plastics 4 Disposals (70) (13) Interests and monetary and exchange variations, net 45 84 Currancy translation adjustments (78) (72) Payments (1,209) (929) Interest paid (279) (221) Balance as of December 31 3,933 4,241 Current liability 978 1,040 Non-current liability 2,955 3,201 Total 3,933 4,241 The table below presents the minimum annual commitments related to undiscounted lease agreements, by maturity. Schedule of payment by maturity 2023 2022 2023 1,109 2024 1,347 856 2025 932 630 2026 807 554 2027 631 437 2028+ 1,660 1,398 5,378 4,983 Interest discounted to present value (1,445) (742) Carrying amount 3,933 4,241 (c) Non-cash transactions In 2023, net non-cash transactions of additions and disposals of leases were R$ 871 1,910 (d) Uninitiated lease arrangements The Company has committed to lease agreements not yet effective as of December 31, 2023. The present value of the commitments corresponds to R$ 1,628 The cash flows related to the contracts are shown below: Schedule of cash flows related to the contracts Discounted Not discounted 2023 2023 2024 15 17 2025 97 111 2026 114 139 2027 167 218 2028+ 1,236 2,399 Total 1,629 2,884 (e) Subleases The sublease of assets is a transaction in which the lessee, in this case the Company, subleases to third parties an asset that is the object of a lease agreement, therefore becoming an intermediate lessor. IFRS 16 – Leases, requires an intermediate lessor to classify the sublease as financial or operating. Considering that the agreements executed by the Company until December 31, 2023 account for most of the term of the main lease, the subleases were accounted for as follows: · Derecognition of the right-of-use asset related to the main lease and recognition of the rights resulting from sublease agreements at present value; · Recognition of any difference between the written-off right-of-use asset and the rights under sublease agreements at present value under net income; · Maintenance in the statement of financial position of lease liabilities under the main lease agreement; · Recognition of financial income during the term of the sublease; · Recognition of financial expenses related to obligations under the main lease agreement; |
Trade payables
Trade payables | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Trade payables | 15 Trade payables Schedule of trade account payables Note 2023 2022 Domestic market Third parties 1,454 1,748 Third parties (forfait) (i) 671 683 Total Third parties 2,125 2,431 Related parties 256 197 Related parties (forfait) (i) 847 81 Total Related parties 9 1,103 278 Foreign market (ii) Third parties 9,993 9,541 13,221 12,250 Current liabilities 13,221 12,247 Non-current liabilities (iii) 3 Total 13,221 12,250 (i) The Company has payment agreements with financial institutions and forfaiting agreements that allow certain suppliers to opt for granting their receivables from the Company upon accepting of financial institutions by acquiring or not the related receivables, without the Company’s interference. The grant operation does not imply any change in the instruments issued by suppliers, with the same conditions of the original amount and the payment term maintained. (ii) Includes R$ 7,.3 billion(2022: R$ 5.8 billion) in raw material purchases due in up to 360 days for which the Company provides letters of credit issued by financial institutions that indicate the suppliers as beneficiaries. (iii) On the Statement of financial position, the balance of non-current liabilities is presented under Other payables. |
Borrowings and debentures
Borrowings and debentures | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Borrowings and debentures | 16 Borrowings and debentures (a) Borrowings and debentures Schedule of borrowings and debentures Annual stated interest rate (%) Maturity 2023 2022 Foreign currency Bonds Note 16 31,980 26,124 Loans indexed to SOFR (i) 1.55 Jan/2024 to Feb/2031 5,604 5,313 Other 6.41 Apr/2024 to May/2029 58 82 Transactions costs (478) (454) 37,164 31,065 Local currency Debentures Note 16 3,910 3,926 Loans indexed to IPCA 6.01 Jan/2024 to Jan/2031 341 390 Loans indexed to CDI 1.48 Mar/2024 to Jul/2027 830 348 Other 7.04 Jan/2024 to Dec/2035 19 19 Transactions costs (28) (32) 5,072 4,651 Foreign currency and local currency Current liabilities 2,029 1,382 Non-current liabilities 40,207 34,334 Total 42,236 35,716 (i) Includes: (a) R$ 2,257 from credit facility contracted by Braskem Holanda Finance and Braskem Holanda, with insurance from SACE and NEXI, Italian and Japanese export credit agencies, respectively, and guarantee from Braskem; (b) R$ 586 from Credit facility contracted by Braskem America, secured by Euler Hermes, the German export credit agency; and (c) R$ 133 from Credit facility contracted by Braskem with a term of 7 years and guarantee of its own assets. The maturity profile of the long-term borrowings is as follows: Schedule of long-term borrowings 2023 2022 2024 2,202 2025 579 628 2026 1,743 581 2027 2,208 2,357 2028 6,769 7,282 2029 2,850 2,888 2030 7,527 8,109 2031 4,328 220 2032 105 113 2033 4,837 2034 and thereafter 9,261 9,954 Total 40,207 34,334 (b) Bonds Schedule of bonds Interest Issue date Maturity (% per year) 2023 2022 Jul-2011 and Jul-2012 Jul-2041 7.13 2,825 3,045 Feb-2014 and May-2014 (i) Feb-2024 6.45 1,589 Oct-2017 Jan-2028 4.50 5,798 6,249 Nov-2019 Jan-2030 4.50 7,364 7,936 Nov-2019 Jan-2050 5.88 3,720 4,009 Jul-2020 (ii) Jan-2081 8.50 3,077 3,296 Feb-2023 Feb-2033 7.25 4,976 Sep-2023 Jan-2031 8.50 4,220 Total 31,980 26,124 (i) Prepayment made in February 2023. (ii) The bond can be repaid by the Company at par value, for periods of 90 days prior to each interest reset, with the first interest reset taking place in January 2026 and the others every 5 years thereafter. Braskem has fully, unconditionally and irrevocably, guaranteed the bonds. Except for the bond issued in 2020, the financial guarantees comprise senior unsecured obligations, ranking equal in right of payment with all of its other existing and future senior unsecured debt. As for the issuance carried out in 2020, in case of default the financial guarantees comprise obligations subordinated to all current or future senior debts of Braskem. (c) Debentures Schedule of debentures Issue date Issuer Series Maturity Annual stated interest rate (%) 2023 2022 Mar-2013 (i) DAC Only Mar-2025 IPCA + 6.00 64 110 Sep-2013 (i) Cetrel Only Sep-2025 126.5% do CDI 22 35 Jan-2022 (ii) Braskem 1ª Dec-2028 IPCA + 5.54 644 616 Jan-2022 (ii) Braskem 2ª Dec-2031 IPCA + 5.57 154 147 May-2022 (iii) Braskem 1ª May-2029 CDI + 1.75 769 771 May-2022 (iii) Braskem 2ª May-2032 CDI + 2.00 248 249 Aug-2022 (iii) and (iv) Braskem Only Aug-2029 CDI + 1.75 787 787 Nov-2022 (iii) Braskem 1ª Nov-2029 CDI + 1.70 1,124 1,114 Nov-2022 (iii) Braskem 2ª Nov-2032 CDI + 1.95 98 97 3,910 3,926 (i) These debentures were secured by mandatory deposits as disclosed in Note 5. (ii) Private debentures issued by Braskem, used as guarantee for the issue of Agribusiness Receivables Certificate ("CRA") by Eco Securitizadora de Direitos Creditórios do Agronegócio S.A and were subject to the Extended National Consumer Price Index (“IPCA”). (iii) Unsecured debentures. (iv) In April 2024, these debentures were fully prepaid. |
Braskem Idesa borrowings
Braskem Idesa borrowings | 12 Months Ended |
Dec. 31, 2023 | |
Braskem Idesa Borrowings | |
Braskem Idesa borrowings | 17 Braskem Idesa borrowings Schedule of braskem idesa financing Identification Nota Maturity Currency and annual stated interest rate (%) 2023 2022 Bonds Bond I nov-2029 Us dollar exchange variation + 7.45 (a) 4,383 4,690 Bond II (i) feb-2032 Us dollar exchange variation + 6.99 (a) 5,936 6,353 10,319 11,043 Others (ii) oct-2023 and nov-2023 Us dollar exchange variation + quarterly Term SOFR + 4.25 (b) 625 735 1 oct-2023 and nov-2023 Us dollar exchange variation + semianual Term SOFR + 2.94 (c) 766 1,391 735 Transactions costs (460) (460) Total 11,250 11,318 Current liabilities 739 868 Non-current liabilities 10,511 10,502 Total 11,250 11,370 (a) Braskem Idesa pledged as collateral property, plant and equipment assets in the same value as the bond . (b) Braskem Idesa pledged as collateral property, plant and equipment assets and other rights (c) Terminal Química pledged as collateral property, plant and equipment assets and Braskem has fully, unconditionally and irrevocably, guaranteed the financing. (i) Sustainability-linked bonds. The bonds due in 10 years have an interest rate of 6.99% p.a., which may be increased by up to 0.37% p.a. if certain conditions are not met. (ii) On June 29, 2023 Braskem Idesa obtained an extension of the waiver related to a leverage ratio (covenant) until March 31, 2024. In this sense, even though Braskem Idesa is not in default and creditors did not request to accelerate this debt, because the waiver did not provide a period of grace ending at least twelve months after the reporting period, the entire balance, in the amount of R$ 502 was classified in current liabilities on December 31, 2023 (2022: R$ 650). On March 28, 2024 Braskem Idesa obtained a new extension of the waiver related to the covenant until March 30, 2025. Braskem Idesa is in full compliance with its debt service obligation defined in the financing agreement and maintains a cash position equivalent to R$ 1,562 2,184 The amount of the financings with maturities in the long term are as follows: Schedule of financing with maturities 2023 2022 2028 466 2029 4,290 4,338 2032 5,755 6,164 Total 10,511 10,502 |
Reconciliation of financing act
Reconciliation of financing activities in the statement of cash flow | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Reconciliation of financing activities in the statement of cash flow | 18 Reconciliation of financing activities in the statement of cash flow Schedule of reconciliation of borrowing activities in the statement of cash flow Loan from non-controlling Borrowings Braskem Idesa shareholders and debentures financing of Braskem Idesa Lease Dividends Balances at December 31, 2022 35,716 11,370 2,498 4,241 11 Issued 10,991 1,233 Payments (2,155) (576) (1,209) (7) Cash used in financing activities 8,836 657 (1,209) (7) Other changes Interest paid (2,450) (821) (279) Interest and monetary and exchange variations, net 2,359 (739) (171) 45 Lease contracts 1,283 Disposals (70) Addition by subsidiary acquisition 28 Currency translation adjustments (2,253) 783 158 (78) Fair value adjustments of non-controlling subsidiaries 5 Additional dividends approved in the board meeting 6 (2,316) (777) (8) 901 6 Balances at December 31, 2023 42,236 11,250 2,490 3,933 10 Current 2,029 739 978 10 Non Current 40,207 10,511 2,490 2,955 Total 42,236 11,250 2,490 3,933 10 |
Financial instruments
Financial instruments | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Financial instruments | 19 Financial instruments 19.1 Initial recognition and measurement Financial assets and liabilities are initially recognized when the Company becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) is initially measured at fair value, plus transaction costs directly attributable to their acquisition. A financial liability is initially recognized at fair value, excluding transaction costs. For financial assets and liabilities measured subsequently at fair value through profit or loss (“FVTPL”), transactions costs are directly recognized in profit or loss. A trade receivable without a significant financing component is initially measured at the transaction price. (a) Classification, subsequent measurement and gains and losses Financial Assets On initial recognition, a financial asset is classified as measured at: amortized cost; fair value through other comprehensive (loss) income (“FVOCI”) or fair value through profit or loss (“FVTPL”). A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as measured at fair value: (i) It is held within a business model whose objective is to hold assets to collect contractual cash flows; and (ii) Its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A financial asset can also be measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL: (i) It is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and (ii) Its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVTPL. This includes all derivative financial assets (see Note 19.5). Financial assets at FVTPL Financial assets at amortized cost Financial assets at FVOCI Financial liabilities Financial liabilities are classified as measured at amortized cost or FVTPL. A financial liability is classified as at FVTPL if it is a derivative. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss. Other financial liabilities are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss, except when the financial asset is designated as a hedge instrument (see Note 19.2). Any gain or loss on derecognition is also recognized in profit or loss. (b) Derecognition of financial instruments Financial Asset The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or when the Company transfers the rights to receive the contractual cash flows in a transaction in which either: (i) Substantially all of the risks and rewards of ownership of the financial asset are transferred; or (ii) The Company does not retain substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. When the Company enters into transactions whereby it transfers assets recognized in its statement of financial position but retains either all or substantially all of the risks and rewards of the transferred assets, the financial assets are not derecognized. Financial liabilities The Company derecognizes a financial liability when its contractual obligations are discharged, cancelled or expire. The Company also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss. 19.2 Derivative financial instruments and hedge accounting The Company holds derivative financial instruments to hedge its foreign currency and interest rate risk exposures. Embedded derivatives are separated from the host contract and accounted for separately if the host contract is not a financial asset and certain criteria are met. Derivatives are initially measured at fair value. After initial recognition, derivatives are measured at fair value, and changes therein are generally recognized in profit or loss. The Company designates certain derivatives and non-derivative financial liabilities as hedging instruments to hedge the variability in cash flows associated with highly probable forecast transactions arising from changes in foreign exchange rates and interest rates. At inception of designated hedging relationships, the Company documents the risk management objective and strategy for undertaking the hedge. The Company also documents the economic relationship between the hedged item and the hedging instrument, including whether the changes in cash flows of the hedged item and hedging instrument are expected to offset each other. Cash flow hedges When a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of the derivative is recognized in OCI. The effective portion of changes in the fair value of the derivative that is recognized in OCI is limited to the cumulative change in fair value of the hedged item, determined on a present value basis, from inception of the hedge. Any ineffective portion of changes in the fair value of the derivative is recognized immediately in profit or loss. If the hedge no longer meets the criteria for hedge accounting, or the hedging instrument is sold, expires, is terminated or is exercised, then hedge accounting is discontinued prospectively. When hedge accounting for cash flow hedges is discontinued, the amount that has been accumulated in OCI remains recognized until it is reclassified under profit or loss in the same period or periods as the expected future cash flows affect the profit or loss. If the hedged future cash flows are no longer expected to occur, then the amounts that have been accumulated in OCI are immediately reclassified to profit or loss. 19.3 Fair Value (a) Fair value measurement Fair value is the price to be received in the sale of an asset or paid for the transfer of a liability in a transaction not forced between market players on the measurement date, in the main market or, in the case of a lack of one, the most advantageous market in which the Company has access on said date. The Company recognizes derivative financial instruments at their fair value and the main sources of information are the stock exchanges, commodities and futures markets, published by Central Bank of Brazil (“BACEN”), Bloomberg and Reuters. Nevertheless, the volatility of the foreign exchange and interest rate markets in Brazil has been resulting in significant changes in future rates and interest rates over short periods of time, leading to significant changes in the fair value of derivatives and other financial instruments. The fair values of non-derivative quoted financial instruments are based on current bid prices. If the market for a financial asset and for unlisted securities is not active, the Company establishes fair value by using valuation techniques. These include the use of recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analysis, and option pricing models that make maximum use of market inputs and rely as little as possible on information provided by the Management. The following methods and assumptions were used to estimate the fair value: (i) Financial assets classified as FVTPL or FVOCI are measured in accordance with the fair value hierarchy (Level 1 and Level 2), with inputs used in the measurement processes obtained from sources that reflect the most recent observable market prices. (ii) The fair value of borrowings and loan of non-controlling shareholder of Braskem Idesa is estimated by discounting future contractual cash flows at the market interest rate, which is available to the Company in similar financial instruments. (iii) The fair value of bonds is based on prices negotiated in secondary bond markets. (iv) The fair value of debentures is based on prices negotiated in financial markets. The fair values of the remaining assets and liabilities correspond to their carrying amount. (b) Fair value hierarchy Level 1 Level 2: To measure the credit risk of the parties involved in derivative instruments, the Company uses Credit Valuation Adjustment (“CVA”) or Debt Valuation Adjustment (“DVA”) models, applied flow by flow on the fair value of each instrument. The Company adopts the ratings of the other parties for positive flows and its own rating for negative flows, both available in the market and disclosed by renowned rating agencies, as a necessary assumption to define the probability of default. 19.4 Non-derivative financial instruments and other liabilities Schedule of non-derivative financial instruments and other liabilities Fair value Book value Fair value Note Classification by category hierarchy 2023 2022 2023 2022 Cash and cash equivalents 5 Cash and banks Amortized cost 5,339 6,074 5,339 6,074 Financial investments in Brazil FVTPL Level 2 8,848 6,392 8,848 6,392 14,187 12,466 14,187 12,466 Financial investments 6 LFT´s and LF´s FVTPL Level 2 4,680 1,789 4,680 1,789 Other FVTPL Level 2 294 523 294 523 4,974 2,312 4,974 2,312 Trade accounts receivable 7 Amortized cost 2,910 3,199 2,910 3,199 Trade accounts receivable 7 FVOCI Level 2 - 33 - 33 Trade payables 15 Amortized cost 13,221 12,250 13,221 12,250 Borrowings 16 Amortized cost Foreign currency - Bond Level 1 31,980 26,124 26,004 23,166 Foreign currency - other borrowings Level 2 5,662 5,395 5,434 5,329 Local currency Level 2 1,190 757 1,542 1,259 Debentures Level 2 3,910 3,926 3,314 3,868 42,743 36,202 36,294 33,622 Braskem Idesa borrowings 17 Amortized cost Bond Level 1 10,319 11,043 6,153 8,302 Others Level 2 1,391 735 1,243 797 11,710 11,778 7,396 9,099 Loan ton non-controlling shareholder of Braskem Idesa 9(a) Amortized cost 2,490 2,498 2,555 2,290 Leniency agreement 22(a) Amortized cost 1,016 903 1,016 903 19.5 Derivative financial instruments Schedule of changes in derivative financial instruments Operation characteristics (Asset)/ (Asset)/ Principal exposure Liability Change in Financial Liability Identification Derivatives 2022 fair value settlement 2023 Non-hedge accounting transactions Braskem Holanda - Swap Nafta/Gasolina Gasoline Naphtha (16) 67 (54) (3) Braskem Holanda - Swap Nafta/Gasolina Braskem Argentina - Exchange swap (16) 67 (54) (3) Hedge accounting transactions Braskem S.A. - Dollar call and put options Real Dollar (65) 11 17 (37) Braskem S.A. - Dollar swap CDI Real Dollar+Fixed rates 152 (91) (97) (36) Braskem S.A. - Swap CRA Real Dollar+Fixed rates (24) (122) 18 (128) 63 (202) (62) (201) Derivatives Assets Current assets 158 137 Non-current assets 72 210 Total 230 347 Liabilities Current liabilities 195 58 Non-current liabilities 82 141 Total 277 199 Balance - Liabilities (-) assets 47 (148) The counterparties in these contracts are constantly monitored based on the analysis of their respective ratings and CDS. The Company has many bilateral risk mitigators in its derivative contracts, such as the possibility of depositing or requesting deposits of a guaranteed margin from the counterparties. Derivative financial instruments held on December 31, 2023 were contracted on both international stock exchanges and on Over the Counter (“OTC”) markets with large financial counterparties under global derivative contracts in Brazil or abroad. The Company’s Financial Policy provides for the active management and continued protection against fluctuations in currencies and rates arising from its operations and financial items, with the possibility of contracting derivative instruments (swaps, Non-deliverable forwards, options, etc.). The other market risks are addressed on a case-by-case basis for each transaction. In general, the Company assesses the need for hedging in the analysis of prospective transactions and seeks to customize the hedge and keeps it in place for the hedged period transaction. In general, the Company elects to designate derivative financial instruments in a hedge accounting relationship when the application is expected to provide a significant improvement in presenting the offsetting effect on the changes in the hedged items. Hedge accounting transactions (a.i) US$ call and put option As of December 31, 2023, the Company holds a total notional amount of put options of R$ 6.7 1.5 4.51 6.7 1 6.78 US$ denominated future sales in Brazilian Real were designated for hedge accounting, with the months of revenue recognition always coinciding with the months of the options. The future elements of forward exchange contracts are excluded from the designation of hedge instrument and are separately recorded as hedging cost, recognized in the OCI. (a.ii) US$ Swap CDI Dollar In 2018, the Company contracted foreign exchange derivative operations (“swaps”) in the aggregate amount of R$ 1.3 billion, with annual maturities between January 2019 and January 2025, changing the variation of CDI for the variation of Dollar. These operations were designated to cash flow hedge accounting, where the hedging instruments are foreign exchange derivatives, and the hedged objects are highly probable future revenues in the domestic market subject to fluctuations in Brazilian R$/US$ price. Accordingly, the fair value adjustment of the effective portion of the hedge is recognized under shareholders equity in OCI and is recognized in the financial result upon the maturity of each installment. (a.iii) US$ Swap – Debentures – CRA In 2022, the Company contracted foreign exchange derivative operations (“swaps”) with semiannual maturities for the next 10 years as from March 2022, These operations were designated for cash flow hedge accounting, in which the hedge instruments are foreign exchange derivatives, and the hedge objects are highly probable future revenue subject to the R$/US$ exchange rate. Accordingly, the adjustment in the effective hedge portion will be recorded in equity in OCI and will be recognized in financial result upon the realization of each of the hedge objects. Schedule of fair value adjustment Identification Total nominal Hedge Maturity Fair value, net value R$ (interest rate per year) 2023 2022 Swaps CRA 600 3.5388 dec-2028 98 13 Swaps CRA 141 3.3742 dec-2031 30 10 Total 742 128 23 19.6 Non-derivative financial liabilities designated to hedge accounting (a) Future exports in US$ (Braskem S.A.) The Company designated non-derivate financial liabilities in foreign currency to hedge the future cash flows generated by its exports. This decision was based on two important concepts and judgments: (i) ) the high probability of performing exports according to its business plan, (see Note 19.2), which are inherent to the market and business where it operates, and (ii) the Company’s capacity to finance its liabilities in US$, since its guidance and strategy determine the financing priority in US$ and its Financial Policy requires maintaining a minimum level of net liabilities in US$. On May 1, 2013, Braskem designated non-derivative financial liabilities, denominated in US$, as a hedge for the flow of its highly probable future exports. Thus, the impact of exchange rates on future cash flows in US$ derived from these exports is offset by the foreign exchange variation on the designated liabilities, partly eliminating the volatility of results. The exchange rate on the date of the designation was US$1/ R$ 2.0017. The main actions carried out in the program are detailed below: • 2017: designation of R$ 6.5 1.2 • 2019: designations of R$ 11.5 2.2 • 2020: designation of R$ 3.1 600 1.9 362 • 2021: designation of hedge accounting of R$ 2.1 400 2.1 400 1 200 • 2022: designation of R$ 2.6 500 • 2023: designation of R$ 2 400 The Company considers these exports until 2033 as highly probable, based on the following factors: • Over the past two years, Braskem exported an average R$ 11.2 2.2 • Hedged exports represent approximately 30% of the export flows planned by the Company. • The exports of the Company are not sporadic or occasional but constitute an integral part of its strategy and of the petrochemical business, in which competition is global. Several of the products produced by the Company are primarily and recurrently intended for export. On December 31, 2023, the exports that were designated not yet realized and not discontinued and the maturities of financial liabilities designated, all consolidated, were as follows: Schedule of non-derivative financial liabilities designated to hedge accounting Total nominal US$ milhões R$ 2024 175 847 2025 800 3,873 2028 1,250 6,052 2029 500 2,421 2030 800 3,873 2031 800 3,873 2032 600 2,905 2033 400 1,937 5,325 25,780 The following table shows the changes in financial instruments designated for this hedge in the year: Schedule of financial instruments designated for hedge US$ million Hedge Realized discontinued 2022 discontinued hedge Designations 2023 Designated balance 5,239 (314) 400 5,325 Brazilian Real Hedge Currency translation 2022 discontinued Designations adjustments 2023 Designated balance 27,336 (1,629) 2,044 (1,971) 25,780 The following table provides the accumulated balance of discontinued hedge accounting as of December 31, 2023, because of the advance payment made for the hedging instrument, which is recorded in OCI and will be transferred to financial income (expenses) in accordance with the schedule of future hedged sales: Schedule of future hedged sales Conversion rate Total nominal at Inception Closing rate Gross nominal value US$ R$/US$ R$/US$ value - R$ Hedge discontinued - From first to fourth quarter 2024 514 2.0017 5.5466 1,821 Hedge discontinued - Fourth quarter 2032 200 4.0213 5.2177 239 714 2,060 Hedge instruments were executed with subsidiaries abroad considering the existence of guarantee resulting from transactions between these subsidiaries and third parties, using non-derivative financial liabilities linked to operations in which the subsidiary abroad served as intermediary of the Company, maintaining the substance of the transactions. Trade payables, especially related to naphtha, were also considered in the transaction. To ensure the continuity of the hedging relation, the Company plans to refinance and/or substitute these hedge instruments to adjust them to the schedule and value of hedged exports. This explains the fact that liabilities designated for hedge are not necessarily equivalent to the exports designated in the year. The following table provides the balances of exchange variation recognized in the Company’s net financial income (expenses) due to the realization of exports designated, for this hedge in the fiscal year ended December 31, 2023: Schedule of exchange variation - Braskem Idesa Conversion rate Total nominal at Inception Closing rate Gross nominal value US$ R$/US$ R$/US$ value - R$ First quarter 168 2.0017 3.9786 332 Second quarter 150 2.0017 3.9786 297 Third quarter 200 2.0017 3.9786 395 Fourth quarter 200 2.0017 5.1433 629 718 1,653 The changes in foreign exchange variation and income taxes under other comprehensive (loss) income of this hedge are as follows: Schedule of changes in foreign exchange variation and income tax and social contribution Exchange Net variation Income taxes effect Balances at December 31, 2022 (9,981) 3,394 (6,587) Exchange variation recorded in the year / Income taxes 1,921 (653) 1,268 Exchange variation transferred to profit or loss / Income taxes 1,653 (562) 1,091 Balances at December 31, 2023 (6,407) 2,179 (4,228) Effectiveness tests were conducted, and all operations were deemed effective in reducing the dispersion of revenue from sales designated for hedge, when evaluated in Brazilian Real. (b) Future sales in US$ (Braskem Idesa) As of December 31, 2023, designated and unrealized sales and financial liabilities designated to hedge them were as follows: Schedule of designated and unrealized sales Total nominal US$ milhões R$ 2024 22 107 2025 23 111 2026 308 1,491 2027 225 1,089 2028 525 2,542 2029 525 2,542 2030 300 1,452 2031 300 1,452 2,228 10,786 The following table provides the accumulated balance of discontinued hedge accounting as of December 31, 2023, because of the advance payment made for the hedging instrument, which is recorded in OCI and will be transferred to financial income (expenses) in accordance with the schedule of future hedged sales: Schedule of discontinuation Conversion rate Total nominal at Inception Closing rate Total nominal Gross nominal Discontinuation in: value US$ MXN/US$ MXN/US$ value MXN value - R$ Hedge discontinued in May, 2016 9 13.4541 17.9915 41 12 Hedge discontinued in December, 2019 460 13.6667 19.6113 2,735 781 Hedge discontinued in December, 2019 17 13.4541 19.3247 100 29 Hedge discontinued in October ,2021 848 13.6621 20.3587 5,679 1,622 1,334 8,554 2,444 The following table provides the balances of exchange variation recognized in financial income (expenses) due to the maturity of the sales designated in this hedge for the 12-month period ended December 31, 2023: Schedule of exchange variation - Braskem Idesa Conversion rate Total nominal at Inception Closing rate Total nominal Gross nominal value US$ MXN/US$ MXN/US$ value MXN value - R$ First quarter 81 13.6512 20.1269 522 151 Second quarter 79 13.6521 20.1222 510 143 Third quarter 85 13.6533 20.1160 550 159 Fourth quarter 111 15.0103 19.9872 553 155 356 2,135 608 The changes in foreign exchange variation and income taxes under other comprehensive (loss) income at Braskem Idesa income are as follows: Schedule of changes in foreign exchange variation and income tax and social contribution - Braskem Idesa Exchange Net variation Income taxes effect Balances at December 31, 2022 (1,108) 333 (775) Exchange variation recorded in the period / Income taxes 1,530 (459) 1,071 Exchange variation transferred to profit or loss / Income taxes 608 (182) 426 Balances at December 31, 2023 1,030 (308) 722 Effectiveness tests were conducted, and all operations were deemed effective in reducing the dispersion of revenue from sales designated for hedge, when evaluated in Mexican Pesos. 19.7 Credit quality of financial assets (a) Trade accounts receivable As part of its financial risk management, the Company has a specific policy for managing the credit risk of clients, which sets operational parameters and responsibilities for the management of receivables and is enforced by a specialized credit and collection team, which is in charge of the main activities of credit risk management. The Company also has a credit committee responsible for monitoring and supporting the management in the application of internal policies. The Company’s clients do not have risk ratings assigned by credit rating agencies. For this reason, the Company developed its own credit rating methodology for all accounts receivable from clients in Brazil and abroad, in which qualitative and quantitative analyses are conducted to determine the risk of each counterparty, as well as the required guarantees to support the Company’s exposure. The qualitative analysis is performed via a credit questionnaire that qualifies and quantifies the financial information of clients. The items assessed are scored according to a risk assessment matrix. The quantitative analysis represents the financial component for calculation of the Client Credit Risk. The variables financial score and probability of insolvency are considered, calculated via statistical modeling. The Company also considers other elements within the risk assessment matrix, such as history of punctuality, country risk, extraordinary risk, credit analysis of the business group, and guarantees to mitigate risk, such as sureties, letters of credit, insurance, fiduciary sale, among others. After credit risk assessment, a risk rating by client is assigned, varying from minimal to very high risk; then this information is used in the management of the Company’s receivables and loss estimate. Considering the expected credit losses, the percentage of trade accounts receivable by risk ratings that represent Company’s total exposure was as follows: Schedule of trade accounts receivable by credit ratings (%) 2023 2022 1 Minimal Risk 65.62 72.15 2 Low Risk 19.33 21.65 3 Medium Risk 6.37 3.36 4 High Risk 8.28 2.56 5 Very High Risk (i) 0.40 0.28 (i) Clients in this group that are still active purchase from Company and pay in advance. For the export market, approximately 83% of the portfolio has guarantees, consisting primarily of credit insurance. For the domestic market, approximately 26% of the portfolio has guarantees, mainly suretyships by the partners of counterparties, complemented by credit insurance. Management considers on default the counterparty that does not pay its debts when due. The exposure to credit risk of the counterparties in total amounts refers to the trade accounts receivable amounts identified in Note 7. (b) Cash and cash equivalents and financial investments The definition of Counterparties in financial transactions should follow the criteria of Classification of Credit Risk of the Counterparty by a specialized agency, being the local long-term rating for Brazilian institutions and global for international institutions, in addition to concentration of exposure with the Counterparty, as established in the Company’s financial risk management policy: Schedule of financial assets with and without risk assessment 2023 2022 No Brasil No Exterior Total No Brasil No Exterior Total Financial assets with risk classification AAA 11,438 2,493 13,931 5,130 2,421 7,551 AA+ 140 140 163 163 AA 130 130 290 108 398 AA- 249 249 149 149 A+ 1 3,072 3,073 3 4,460 4,463 A 32 506 538 93 1,358 1,451 A- 4 815 819 387 387 BBB 49 49 1 52 53 11,994 6,935 18,929 5,829 8,786 14,615 Financial assets without risk classification Other financial assets with no risk assessment (i) 149 83 232 82 81 163 149 83 232 82 81 163 Total 12,143 7,018 19,161 5,911 8,867 14,778 (i) Investments approved by the Management, in accordance with the Financial Policy. For the financial institutions’ counterparty risk there was no recognition of expected credit losses, taking into consideration the high credit rating degree of the counterparties and the positive history of solvency of all financial assets, among other factors. The Company continuously monitors the changes in the counterparties’ ratings and, if necessary, reallocates funds to meet the requirements of the financial risk management policy. 19.8 Sensitivity analysis Financial instruments, including derivatives, may be subject to changes in their fair value as a result of the variation in commodity prices, foreign exchange rates, interest rates, shares and share indexes, price indexes and other variables. The sensitivity of the derivative and non-derivative financial instruments to these variables are presented below: (a) Selection of risks On December 31, 2023, the main risks that can affect the value of Company’s financial instruments are: · US$/R$ exchange rate; · IPCA inflation rate; · Selic and CDI interest rates; and · SOFR interest rate; · Euro/R$ exchange rate. For the purposes of the risk sensitivity analysis, the Company presents the exposures to currencies as if they were independent, that is, without reflecting in the exposure to a foreign exchange rate the risks of the variation in other foreign exchange rates that could be directly influenced by it. (b) Selection of scenarios The Focus Market Readout published by BACEN was used to create the probable scenario for the US$-R$ exchange rate, the Selic interest rate and the CDI interest rate as of December 31, 2023. According to the Market Readout, at the end of 2023, US$1 will remain at approximately R$ 5.00, while the Selic rate should reach 9.00% p.a. at the end of 2024. The Selic rate is used as benchmark for sensitivity analysis of the CDI rate. Since the Market Readout report does not include consensus forecasts for the SOFR rate, the projection of the U.S. Federal Reserve for the Federal Funds rate was used, which was published in December 2023, in comparison with the current level of the Federal Funds rate on December 31, 2023. For each variable analyzed in the sensitivity analysis, the Company has considered estimating annualized variations corresponding to 1 and 3 standard deviations of monthly averages of the last five years. They are equivalent to approximately 15.866% and a 0.135% probability of occurrence for the reasonably possible and possible scenarios, respectively. Then, these changes are applied to the current market levels of each variable. Uncertainties of the current context The assumptions of the future value adopted in the construction of the probable scenario and the current value of each variable in this analysis are referenced to the reporting date December 31, 2023. Given the instability in the current economic scenario caused by the global effects resulting from geopolitical conflicts, monetary tightening to combat global inflationary pressures and their macroeconomic developments, interest rates and foreign exchange rates are affected frequently. The Company’s gains and losses in these probable stress scenarios are analyzed by increasing each variable according to the aforementioned. The sensitivity values in the table below represent the changes in the value of the financial instruments in each scenario, jointly with the absolute amounts of each of the risk factors considered: Schedule of changes in the value of the financial instruments Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity Note as December 31, 2023 (USDBRL 4,9) (USDBRL 5,45) (USDBRL 6,68) Brazilian real/U.S. dollar exchange rate Bonds (42,299) (513) (5,352) (16,055) Export prepayments (2,170) (26) (275) (824) Investments (1,577) (19) (199) (598) SACE 19(c.i) (1,156) (14) (146) (439) Dollar call and put options (i) 37 (16) (92) (453) Dollar swap x CDI (liability) (541) (8) (70) (207) MONFORTE 19(c.ii) (133) (2) (17) (50) Nexi 19(c.iii.iv) (84) (1) (11) (32) Other (1,392) (17) (176) (528) Financial investments abroad 5,489 67 694 2,083 Dollar swap x IPCA (liability) (678) 23 (33) (156) Export credit notes (484) (6) (61) (184) Trade accounts receivable 2,890 35 366 1,097 Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2023 (11,75%) (14,76%) (20,77%) CDI/Selic interest rate Debentures (3,048) (555) (1,900) Financial investments in local currency 12,108 327 982 Export credit notes (347) (35) (113) Note of rural product (CPR) (482) (33) (104) Dollar swap x CDI (asset) 577 Leniency agreement (577) (17) (53) Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2023 (4,46%) (5,26%) (6,3%) IPCA interest rate Debêntures (64) (1) BNDES (338) 5 (22) (68) Debêntures - CRA (798) 11 (44) (137) Dollar swap x IPCA (asset) 808 72 29 77 Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2023 (5,33%) (11,3%) (23,22%) Selic interest rate Export prepayments (2,170) 28 (223) (668) Export credit notes (484) 7 (59) (176) Nexi (84) 2 (17) (51) SACE (1,156) 24 (191) (574) MONFORTE (133) 1 (12) (36) Investments (1,577) 31 (248) (744) Other (1,392) 16 (132) (396) Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2023 (EURBRL 5,44) (EURBRL 6,01) (EURBRL 7,32) Brazilian real/EUR exchange rate Trade accounts receivable 472 8 58 173 (i) The Company is in the put options. |
Taxes payable
Taxes payable | 12 Months Ended |
Dec. 31, 2023 | |
Taxes Payable | |
Taxes payable | 20 Taxes payable Schedule of taxes payable 2023 2022 Brazil IPI 66 74 ICMS 227 218 PIS and Cofins 29 20 Other 9 105 Other countries Value-added tax 119 150 Tax on financial income 143 222 Total 593 789 Current liabilities 387 491 Non-current liabilities 206 298 Total 593 789 |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Income taxes | 21 Income taxes Income taxes comprises current and deferred taxes. It is recognized in profit or loss except to the extent that it relates to items directly recognized in other comprehensive (loss) income. 21.1 Current income taxes Current income taxes comprise the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted at the reporting date. Current tax also includes any tax arising from dividends. Current tax assets and liabilities are offset only if certain criteria are met. As of December 31, 2023, the amount presented as recoverable income taxes under current assets is R$ 428 392 292 253 (a) Exclusion of inflation adjustment by Selic (economy´s basic interest rate) on undue tax payments from taxable income In July 2010, Braskem and the merged companies in previous years, filed lawsuits claiming exception from the levying of Brazilian income taxes (hereinafter “IR/CSL”) on amounts they received as interest on late payment, since they do not represent any equity increase. On September 24, 2021, through Special Appeal 1.603.187, the Federal Supreme Court (“STF”) stated that “the levying of IR/CSL on amounts updated by the Selic rate, received due to repetition of undue tax payments, is unconstitutional.” The benefits obtained by the Company are disclosed in the effective tax rate reconciliation table (note 21.1(c)). (b) Use of tax losses in Braskem Idesa Mexico’s federal revenue service (“SAT”) has been questioning Braskem Idesa and Braskem SOFOM about the criteria and assumptions adopted in the calculation of income tax. With the intermediation from the Taxpayer Defense Attorney of Mexico (“Prodecon”), on February 3, 2023, Braskem Idesa and Braskem SOFOM signed an agreement, in which Braskem SOFOM agreed to settle the income taxes proposed by SAT and Braskem Idesa reviewed the accrued tax losses in certain periods, resulting in a reduction in deferred tax credits of R$ 892 (c) Reconciliation of effective tax rate Schedule of income tax and social contribution reconciliation 2023 2022 2021 (Loss) profit before income taxes (6,192) 47 17,961 Nominal income taxes computed based on Brazilian statutory corporate tax rates (34%) 2,105 (16) (6,107) Permanent adjustments to the Income taxes calculation basis Results from equity-accounted investees 2 12 2 Thin capitalization (i) (613) (360) (7) Tax benefits 145 137 Reduction of tax loss (892) Different jurisdictional taxes rates for companies abroad and tax basis (ii) 770 1,030 1,980 Taxes on dividends distribution (836) (455) (265) Exclusion of inflation adjustement by Selic on undue tax payments from taxable income 38 39 501 Other permanent adjustments (309) (226) (241) Effect of income taxes on results of operations 1,302 (868) (3,999) Breakdown of income taxes: Current income taxes Current year (191) (1,004) (3,834) Total current expenses (191) (1,004) (3,834) Deferred income taxes Origination and reversal of temporary differences 6 1,192 (246) Tax losses 1,487 (1,056) 81 Total deferred income taxes 1,493 136 (165) Total 1,302 (868) (3,999) Effective rate (iii) 21.0% 1846.8% 22.3% (i) Includes the amount from the adjustment of interest rates in financial operations with subsidiaries in accordance with sub-capitalization tax rules. (ii) Besides the differences on tax basis calculation, it includes the impact from the difference between Brazilian tax rate (34%) and the tax rates in countries where the subsidiaries abroad are located. (iii) The effects presented in the reconciliation of the effective rate, in relation to the profit before taxes as of December 31, 2022, resulted in an effective rate in 2022 as of 1847.8%, the main effect is described in Note 21.1(b). 21.2 Deferred income taxes Deferred income taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax assets are recognized for unused tax losses and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be used. Future taxable profits are determined based on the reversal of relevant taxable temporary differences. If the amount of taxable temporary differences is insufficient to recognize a deferred tax asset in full, then future taxable profits, adjusted for reversals of existing temporary differences, are considered, based on the business plans for the Company and its subsidiaries individually. The measurement of deferred taxes reflects the tax consequences that would follow from how the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities. Annually, the Company revises its projection of taxable income based on its Business Plan. The Business Plan is prepared annually by the Executive Board, and its main variables include projections for the prices of the products produced by the Company, the prices of raw materials, the growth in gross domestic product of each country in which the Company operates, exchange rate variation, interest rates, inflation rates and fluctuations in supply and demand for inputs and finished goods. In evaluating the plan, the Company uses its historical performance, strategic planning and market projections produced by third party consulting firms, which are reviewed and supplemented based on Management´s experience. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of future taxable profits improves. Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be used. Deferred tax assets and liabilities are offset only if certain criteria are met. (a) Movement in deferred tax balances Schedule of changes in balances of deferred tax assets and liabilities Assets As of December 31, 2022 Impact on the P&L Other As of December 31, 2022 Impact on the P&L Other As of December 31, 2023 Tax losses (IR) and negative base (CSL) 3,355 (957) 2,398 1,487 3,885 Exchange variations 4,280 (937) 3,343 (1,274) 2,069 Temporary adjustments 4,782 (216) 4,566 (180) 8 4,394 Lease 1,197 1,197 429 1,626 Business combination Tax credits (i) 698 698 83 781 Other 147 (28) 119 (441) (322) 12,564 (243) 12,321 104 8 12,433 Liabilities Amortization of goodwill based on future profitability 725 (3) 722 (1) 721 Tax depreciation 4,177 (125) 4,052 4 4,056 PIS/COFINS credit - exclusion of ICMS 331 (142) 189 - 189 Temporary adjustments 89 331 420 315 16 751 Right of use of assets - 1,116 1,116 477 1,593 Present value adjustment and amortized cost 155 212 57 424 (228) (2) 194 Hedge accounting - (1,549) 1,549 - (1,948) 1,948 - Amortization of fair value adjustments on 232 (46) 186 (37) (34) 115 Other 5 (173) 174 6 29 13 48 5,714 (379) 1,780 7,115 (1,389) 1,941 7,667 Net 6,850 136 (1,780) 5,206 1,493 (1,933) 4,766 Presentation in the balance sheet: Non-current assets 8,257 6,359 6,443 (-) Non-current liabilities 1,407 1,153 1,677 (i) Tax credits refer to the income tax paid by subsidiaries abroad, not used by Braskem S.A. in 2022 due to its tax losses, to be used in the coming years. (b) Offset for the purpose of presentation in the consolidated statement of financial position Schedule of deferred taxes offset for the purpose of presentation in the balance sheet 2023 2022 Deferred tax assets Deferred tax liabilities Balance Deferred tax assets Deferred tax liabilities Balance Braskem 9,590 (3,744) 5,846 9,112 (3,342) 5,770 Braskem Argentina (6) (6) 21 (16) 5 Braskem America 390 (1,364) (974) 525 (1,662) (1,137) Braskem Alemanha 24 (15) 9 23 23 Braskem Idesa 1,840 (2,531) (691) 2,080 (1,840) 240 Braskem Idesa Serviços Braskem Mexico 333 333 86 86 B&TC 4 (8) (4) (17) (17) Cetrel 34 (4) 30 39 (5) 34 DAC 25 (2) 23 33 (2) 31 Terminal Quimica 13 13 2 2 Voqen (2) (2) Wise 30 (3) 27 12,433 (7,667) 4,766 12,321 (7,115) 5,206 Deferred tax assets 6,443 6,359 Deferred tax liabilities (1,677) (1,153) Balance 4,766 5,206 |
Sundry provisions
Sundry provisions | 12 Months Ended |
Dec. 31, 2023 | |
Sundry Provisions | |
Sundry provisions | 22 Sundry provisions Schedule of sundry provision 2023 2022 Leniency agreement 1,016 903 Provision for environmental damages (a) 928 1,120 Provision for customers rebates (b) 161 127 Other 120 130 Total 2,225 2,280 Current liabilities 1,282 923 Non-current liabilities 943 1,357 Total 2,225 2,280 (a) Leniency agreement In the context of allegations of undue payments in connection with Operation Car Wash in Brazil, the Company hired external experts in investigation to conduct an independent investigation into such allegations (“Investigation”) and to report their findings. In December 2016, the Company entered into Leniency Agreements with the Federal Prosecution Office ( Ministério Público Federal 3.1 957 Controladoria-Geral da União Advocacia-Geral da União 410 Since 2016, The Company has paid R$ 3,071, distributed as shown below: Schedule of leniency agreements AGU Agreements signed with: CGU and MPF DoJ (i) OAG (i) MPF SEC (i) Total Amounts paid 878 297 407 1,282 206 3,071 (i) U.S. Department of Justice (“DoJ”); Swiss Office of the Attorney General (“OAG”) and U.S. Securities Exchange Commission (“SEC”). In August 2023, the Company was notified by CGU about the end of the monitoring period of the Company’s integrity program, and also presented the closing of the monitorship. In January 2023, the Company offered own and third-party registered warrants to pay the fourth installment under the Leniency Agreement (due on January 30, 2023). The payment confirmation was subject to analysis by relevant authorities. Hence, the Company wrote off the amount related to said installment, recording a liability payable to third parties and writing off its own registered warrant. However, the administrative rule governing this settlement procedure was revoked, and no new regulation on this matter was enacted prior to the expiration of the agreements for acquisition of third-parties registered warrants (on December 31, 2023). As a result, the Company returned this installment amount to the payable balance under the Leniency Agreement, while the requirement to pay such 2023 installment remains suspended, awaiting the enactment of new regulations by the competent authorities. The amount payable under the Leniency Agreement, at December 31, 2023, is R$ 1,016 840 176 (b) Provision for environmental damages The provision for environmental damages is estimated based on current legal and constructive requirements, technology, price levels and expected remediation plans. Realized costs and cash outflows may differ from current estimates due to the changes in laws and regulations, public expectations, prices, new findings by the ongoing studies and analysis of local conditions and changes in remediation technologies. The time and value of future expenses related to environmental liabilities are reviewed annually, as well as the interest rate used for discounting them to present value. The Company operates in several countries and is subject to different environmental laws and regulations inherent to the operations and activities areas. Remediation expenses are incurred over several years due to their complexity and extension. New information on websites, new technologies or future developments, such as involvement in investigations by regulatory agencies, may require that we reevaluate our potential exposure related to environmental matters. The provision is recorded based on the areas in which remediation actions will be necessary. Due to the high complexity in identifying potential environmental impacts, alternative solutions and recovery costs estimations, these estimates can only be made with reasonable assurance after the completion of all phases of the process to identify and investigate environmental liabilities, which are in accordance with the phases and protocols established by environmental agencies. The Company monitors the areas under study to capture any new facts and changes in circumstances that change the prognosis of actions to be adopted and consequently affect the estimation of provision for environmental remediations. As of December 31, 2023, the amount recorded in current liabilities is R$ 99 180 829 940 (c) Rebates Some sales agreements of the Company provide for a rebate in products should certain sales volumes be achieved within the year, six-month period or three-month period, depending on the agreement. The bonus is recognized monthly as an accrual, reducing net revenue, assuming that the minimum contractual amount will be achieved. (d) Changes in provisions Schedule of changes in provision Leniency Recovery of agreement environmental damage Rebate Other Total December 31, 2021 1,123 1,035 101 153 2,412 Additions, monetary adjustments and exchange variation 98 299 184 20 601 Write-offs through usage and payments (318) (214) (158) (43) (733) December 31, 2022 903 1,120 127 130 2,280 Additions, monetary adjustments and exchange variation 113 108 155 8 384 Write-offs through usage and payments (300) (121) (18) (439) December 31, 2023 1,016 928 161 120 2,225 |
Provisions for legal proceeding
Provisions for legal proceedings and contingent liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Provisions For Legal Proceedings And Contingent Liabilities | |
Provisions for legal proceedings and contingent liabilities | 23 Provisions for legal proceedings and contingent liabilities Braskem is a defendant in lawsuits and administrative proceedings arising from the normal course of its business. The Management, based on its assessment and that of its external legal advisors, classifies these proceedings in terms of probability of loss as follows: Probable chance of loss Possible chance of loss: The Management believes that the estimates related to the outcome of the proceedings and the possibility of future disbursement may change in view of the following: (i) higher courts may decide in a similar case involving another company, adopting a final interpretation of the matter and, consequently, advancing the termination of the proceeding involving the Company, without any disbursement or implying the need of any financial settlement of the proceeding; and (ii) programs encouraging the payment of the debts implemented in Brazil at the Federal and State levels, in favorable conditions that may lead to a disbursement that is lower than the one that is recognized in the provision or lower than the value of the matter. In addition, the Company also is a plaintiff in several lawsuits. In these cases, the Company discloses the contingent asset when the receipt of economic benefits is probable. However, when the realization of the benefit is virtually certain, the related asset no longer constitutes a contingent asset, and such amount is recognized. Any changes in the court’s understanding of the position could cause future impacts on the financial statements of the Company due to such proceedings. 23.1 Lawsuits with probable losses Schedule of lawsuits with probable losses 2023 2022 Labor claims 186 212 Tax claims IR and CSL 51 52 PIS and COFINS 241 311 ICMS 366 349 Other tax claims 19 24 677 736 Corporate claims 111 103 Civil claims and other 121 120 1,095 1,171 As of December 31, 2023, the main claims considered in provisions are the following: Schedule of main claims considered in provisions Description of tax lawsuits Provisioned amount 2023 2022 Taxing Entity: Government State of São Paulo 1) ICMS tax on interstate purchases: Charge of tax on undue use of credits arising from the acquisition of products for exports, plus fine due to lack of presentation of tax documents requested. The lawsuits are under legal phase and the Company pledged performance bond at their full amount. 346 329 Taxing Entity: Federal Government 2) Non-cumulative PIS and COFINS taxes: Charges of amounts due to offset of non-cumulative PIS and COFINS tax credits, related to the periods from 2005 to 2010 and from 2012 to 2018, that were not approved by the Federal Revenue Service of Brazil. The lawsuits refer to offsetting statements in amounts that exceeded those declared, freight expenses, acquisition of property, plant and equipment and revenues incorrectly classified. They are under administrative phase and the amount is fully provisioned. Part of debits were included in the Tax Litigation Reduction Program, leading to a reduction of R$80. 132 212 3) PIS and COFINS taxes: Charge of debits related to various periods, between 1999 and 2002, arising from insufficient payments of contributions and offset considered undue by the Tax Authority using credit resulting from the addition of 1% to the COFINS rate and PIS credits under Decree-Laws 2,445 and 2,449, whose period of use had allegedly expired. The lawsuits are under legal phase and the Company pledged bank guarantee and performance bonds at their full amount. 79 70 4) Sundry tax lawsuits 120 125 Total tax lawsuits 677 736 Description of corporate lawsuits Provisioned amount 2023 2022 Plaintiff: Banco do Brasil S.A 1) The Company is party to writ of debt filed against it in 1991, currently under appellate phase. Triken S.A. (“Triken”), merged into Braskem, received unfavorable decision to distribute remaining profits to the plaintiffs (preferred shareholders) that were non-controlling shareholders. The amount related to the lawsuit is fully provisioned by the Company. 88 82 2) Sundry corporate lawsuits 23 21 Total corporate lawsuits 111 103 (a) Changes in claims with probable chance of loss Schedule of changes in claims with probable chance of loss Corporate Civil claims Labor claims Tax claims claims and other Total December 31, 2021 269 715 95 75 1,154 Additions, monetary adjustments and exchange variation 129 60 9 76 274 Payments (59) (9) (1) (2) (71) Reversals (*) (127) (32) (29) (188) December 31, 2022 212 736 103 120 1,171 Additions, monetary adjustments and exchange variation 71 143 8 46 268 Payments (37) (10) (25) (73) Reversals (*) (60) (191) (20) (271) December 31, 2023 186 677 111 121 1,095 (*) A provision reversal occurs when the probability of loss or the value attributed to the lawsuit changes, or the suit is closed with a cash disbursement lower than the provisioned amount. 23.2 Contingent liabilities The contingent liabilities whose loss is assessed as possible (possibility of loss greater than remote and less than probable) by the Company’s Management, based on its evaluation and that of its external legal advisors, are disclosed as follows: Schedule of contingent liabilities 2023 2022 Tax claims 26,216 18,271 Civil claims - Alagoas 8,971 5,489 Civil claims - Other 740 786 Social security claims 824 516 Environmental claims 689 640 Labor claims 513 606 Other lawsuits 424 381 Total 38,377 26,689 23.2.1 Breakdown of contingent liabilities Schedule of breakdown of contingent liabilities Description of tax lawsuits Estimate 2023 2022 Taxing Entity: Federal Government 1) Income taxes tax: Tax assessments related to calendar years 2015, 2016, 2018 and 2019, due to non-recognition of application of Agreement to avoid double taxation, signed between Brazil and Netherlands, which establishes that profits from Dutch companies are not taxable in Brazil at the end of every year. The notification for the calendar years 2018 and 2019, received in 2023, also involved non-deductibility of interest rates due to a different understanding regarding the sub-capitalization limit and its tax effects. The inflation-adjusted amount of uncertain tax treatment includes periods mentioned or not mentioned in tax assessments. In view of the calculation of tax losses by the Company in calendar years 2022 and 2023, the amounts related to these periods were calculated considering only the principal amount, excluding fines and interest rates. The amount related to the calendar year 2017 was excluded from this lawsuit due to its time-barring. In addition to including the amount related to calendar year 2023, the lawsuit also considers the amount related to calendar year 2020, due to the issue of financial statements of Dutch entities under local GAAP. The lawsuits are under administrative phase. 18,552 10,665 2) Non-cumulative PIS and COFINS taxes: Charge related to calendar years 2004 to 2018, arising from use of credits on acquisition of goods and services consumed in the production process. The lawsuits are under administrative and legal phase, and the Company pledged performance bonds and deposits at their full amount. 1,507 1,400 3) Income taxes tax: Tax assessments arising from deducted amortization charges, between 2007 and 2013, from goodwill originated from equity interests acquired during 2002. The lawsuits are under administrative and legal phases, and the Company pledged performance bonds at their full amount. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$150. 1,027 1,100 4) Income taxes tax: Tax assessments related to calendar years 2012 and 2015, arising from disallowances of exchange variation expenses with naphtha import transactions, incurred after due date of commercial invoices. The lawsuits also address inflation adjustment in income tax losses and social contribution tax loss carryforwards and partial disallowance of cost of naphtha imported from subsidiary abroad. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$198. The lawsuits are under administrative phase. 1,000 1,200 5) IR/CSL tax: Tax assessments related to the offset of credits from income tax losses and social contribution tax loss carryforward with IR and CSL debits, in merger events carried out in November 2007 and August 2013, exceeding the limit of 30%. The lawsuits are under legal phase, and the Company pledged performance bonds at their full amount. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$150. 346 462 6) Income taxes rate: Tax assessments arising from deducted amortization charges, between 2020 and 2021, from goodwill originated from equity interests acquired during 2012, by Cetrel and DAC. The lawsuits are pending in the administrative sphere in higher courts. 212 195 7) Income taxes rate: Charges due to the non-approval of offsets made using credits arising from negative balance. The lawsuits are under administrative and legal phases, and the Company pledged performance bonds at their full amount. 185 176 8) Social security contributions: Charge of additional contribution for Occupational Environmental Risk to fund the special retirement plan due to the alleged exposure of workers to hazardous agents from January 2016 to July 2018, from November 2000 to January 2001 and from November 2001 to June 2002. The lawsuits are under administrative and legal phases, and the Company pledged performance bonds at their full amount. 183 203 9) PIS and COFINS taxes: Charges arising from alleged undue offsets using credits from other federal taxes. The lawsuits address credits arising from: i) prepayments of IR tax, ii) FINSOCIAL and COFINS taxes, iii) tax on net profit, iv) PIS-Decree-Laws 2,445 and 2,449. The lawsuits are under legal phase, and the Company pledged bank guarantees and performance bonds at their full amount. 142 136 10) Income taxes rate: Tax assessment arising from disallowance of advertising and commission expenses, paid by Braskem and Braskem Inc., and the lack of payment of withholding tax on them. The lawsuit is under administrative phase. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$28. 138 153 11) PIS and COFINS taxes: Charges due to the non-approval of offsets using credits from Cide-Combustíveis, as authorized by Federal Law 10,336/2001. The lawsuits are under legal phase, and the Company pledged performance bonds at their full amount. 128 123 Taxing Entity: State Government of Alagoas 12) ICMS tax: Tax assessments related to calendar years 2015 to 2019, due to lack of ICMS reversal on output with tax deferral. The lawsuits are under administrative phase. 698 639 Taxing Entity: State Governments of São Paulo, Rio de Janeiro, Bahia, Pernambuco, Rio Grande do Sul and Alagoas 13) ICMS tax: Charges of tax underpayments. The lawsuits refer to (i) use of tax credits to acquire property, plant and equipment,goods considered as for use and consumption and products subject to tax replacement; (ii) transfers of finished products at amount below the production cost; (iii) non-payment of tax due to: input or output omissions; charges related to electricity operations and sale of products subject to tax replacement; (iv) lack of evidence of export of goods; (v) fines for lack of registration of invoices. The lawsuits are under administrative and legal phases, and the Company pledged bank guarantees, performance bonds and judicial deposits at their full amount. Part of the amount related to the use and consumption matter was reclassified to remote loss, in accordance with decision 1.775.781/SP issued by EAREsp, leading to a reduction of around R$147. 623 768 14) Sundry tax lawsuits 1,477 1,051 Total tax lawsuits 26,216 18,271 Description of civil lawsuits Estimate 2023 2022 Plaintiff: Resibril Química S.A. 1) Lawsuit filed by Resibril, former reseller of solvents, claiming alleged breach of a tacit distribution agreement. The lawsuit is awaiting judgment. 340 302 2) Civil lawsuits - Alagoas (Note 24.1) 8,971 5,489 3) Sundry civil lawsuits 400 484 Total civil lawsuits 9,711 6,275 Description of social security lawsuits Estimate 2023 2022 Plaintiff: Former team members 1) Lawsuits over withdrawal of sponsorship of Petros plan. Currently, the portfolio is composed of 743 lawsuits filed by former team members of Braskem or merged companies, beneficiaries of Petros plans (Copesul, Copene and PQU), related to sundry matters arising from withdrawal of sponsorship of the plan, whose claims include: Difference of Individual Withdrawal Fund, additional of 90%, and Objection to legality of Withdrawal of Sponsorship. The increase in the amount involved during the year is mainly due to (i) the fresh lawsuits resulting from Petros' notice requesting reimbursement of amounts from Braskem as per the withdrawal agreement, and (ii) a valuation of lawsuit involving a significant amount. 668 379 2) Social security lawsuits 156 137 Total social security lawsuits 824 516 Description of environmental lawsuits Estimate 2023 2022 Plaintiff: São Paulo State Prosecution Office 1) Public-Interest Civil Action (Hashimoto) filed in June 2018 by the São Paulo State Prosecution Office against the Company and other firms that operate in the Capuava Petrochemical Complex, whose claims include the reparation and/or remediation of environmental damages . After Braskem filed its defense in December 2020, there were no changes, and the lawsuit remains awaiting expert evidence. 225 201 Plaintiff: Local Government of Ulianópolis - Pará 2) Public-Interest Civil Action filed in September 2011 by the Local Government of Ulianópolis, Pará, against Braskem and other companies, whose claims include the reparation and/or remediation of environmental damages allegedly resulting from the improper delivery of waste. The companies filed defense, however, a decision was rendered determining the temporary dismissal of the action for one year. 397 363 3) Sundry environmental lawsuits 67 76 Total environmental lawsuits 689 640 Description of other lawsuits Estimate 2023 2022 Plaintiff: Américo Vinícius de Carvalho and Others 1) The Company is party to writ of debt filed against it in 1988, currently under liquidation of award. Polialden Petroquímica S.A. (“Polialden”), merged into Braskem, received unfavorable decision to distribute remaining profits to the plaintiffs (preferred shareholders) that were non-controlling shareholders. The lawsuit awaits accounting evidence of amounts due. 287 262 2) Sundry other lawsuits 137 119 Total other lawsuits 424 381 23.3 Class action On August 25, 2020, an action was filed against Braskem and some of its current and former executives in the US District Court for the District of New Jersey, in the United States, on behalf of an alleged class of investors who acquired Braskem's shares. The action was grounded in the U.S. Securities Exchange Act of 1934 and its rules, based on allegations that the defendants made false statements or omissions related to the geological event in Alagoas. On December 15, 2022, the parties entered into Agreement to terminate the Class Action via payment of R$ 16 (US$3) which was paid in January 2023. 23.4 Contingent assets (i) Compulsory loans: Centrais Elétricas Brasileiras S.A. (“Eletrobras”) The compulsory loan in favor of Eletrobras was established by Federal Law 4.156/62, to finance the energy industry and remained effective until 1993. It was collected through the energy bills of industrial consumers with monthly consumption equal to or higher than 2000kwh and, after successive amendments to the law, the reimbursement was extended to 20 years, plus compensatory interest of 6% per year, which can be anticipated through conversion of credits into shares issued by Eletrobras. Between 2001 and 2009, the companies merged into Braskem filed proceedings seeking the recovery of amounts related to differences in the inflation adjustment of the compulsory loan, interest on arrears and compensatory interest and other related payments. In August 2023, Braskem entered into an assignment contract in the amount of R$ 127 41 |
Geological event - Alagoas
Geological event - Alagoas | 12 Months Ended |
Dec. 31, 2023 | |
Geological Event - Alagoas | |
Geological event - Alagoas | 24 Geological event - Alagoas The Company operated, since its formation and subsequently as the successor of the company Salgema, salt mining wells located in Maceió city, state of Alagoas, with the purpose of supplying raw material to its chlor-alkali and dichloroethane plant. In March 2018, an earthquake hit certain districts of Maceió, where the wells are located, and cracks were found in buildings and public streets of Pinheiro, Bebedouro, Mutange and Bom Parto districts. In May 2019, the Geological Survey of Brazil (“CPRM”) issued a report, indicating that the geological phenomenon observed in the region, could be related to the rock salt exploration activities developed by Braskem. In view of these events, on May 9, 2019, Braskem preventively decided to suspend its salt mining activities and the operation of its chlor-alkali and dichloroethane plant. Since then, the Company has been devoting its best efforts to understand the geological event: (i) possible surface effects; and (ii) the analyses of cavities’ stability. The results are being shared with the Brazilian National Mining Agency (“ANM”) and other pertinent authorities, which the Company has been maintaining constant dialogue. Braskem presented to ANM the measures for shutting down its salt mining fronts in Maceió, with measures for the closure of its cavities, and, on November 14, 2019, it proposed the creation of a protective area surrounding certain cavities as a precautionary measure to ensure public safety. These measures are based on a study conducted by the Institute of Geomechanics of Leipzig (IFG), in Germany, an international reference in the geomechanical analysis of areas of salt extraction by dissolution and are being adopted in coordination with the Civil Defense of Maceió and other authorities. As a result of the geological phenomenon, negotiations were conducted with public and regulatory authorities that resulted in the Agreements executed, including: (i) Instrument of Agreement to Support the Relocation of People in Risk Areas (“Agreement for Compensation of Residents"), entered into with State Prosecution Office (“MPE”), the State Public Defender’s Office (“DPE”), the Federal Prosecution Office (“MPF”) and the Federal Public Defender’s Office (“DPU”), which was ratified by the court on January 3, 2020, adjusted by its resolutions and subsequent amendments, which establish cooperative actions for relocating residents from risk areas, defined in the Map of Sectors of Damages and Priority Action Lines by the Civil Defense of Maceió (“Civil Defense Map”), as updated in December 2020 (version 4), and guaranteed their safety, which provides support, under the Financial Compensation and Support for Relocation Program (“PCF”) implemented by Braskem to the population in the areas of the Civil Defense Map, as well as the dismissal of the Public-Interest Civil Action (Reparations for Residents), as detailed in Note 24.1 (i). (ii) Instrument of Agreement with the Labor Prosecution Office of the State of Alagoas (MPT - AL), entered into on February 14, 2020, in the amount of R$40, for implementation of the Program to Recover Business and Promote Education for residents and workers from the districts affected by the geological phenomenon. The program consists of support for the construction of daycare centers and schools and for administering professional training programs, as well as support for the Civil Defense to hire skilled professionals to continue monitoring the risk areas in the districts affected. On March 3, 2020, with the approval of the agreement by the court, the Public-Interest Civil Action (Reparation for Workers) was dismissed; (iii) Instrument of Agreement to Dismiss the Public-Interest Civil Action on Socio-Environmental Reparation and the Agreement to define the measures to be adopted regarding the preliminary injunctions of the Public-Interest Civil Action on Socio-Environmental Reparation (jointly referred to as “Agreement for Socio-Environmental Reparation”), signed with the MPF with the MPE as the intervening party, on December 30, 2020, in which the Company mainly undertook to: (i) adopt measures to stabilize and monitor the subsidence phenomenon arising from salt mining; (ii) repair, mitigate or compensate possible environmental impacts and damages arising from salt mining in the Municipality of Maceió; and (iii) repair, mitigate or compensate possible socio-environmental impacts and damages arising from salt mining in the Municipality of Maceió, as well as the termination of the Public-Interest Civil Action (Socio-environmental Reparation) related to the Company, as detailed in Note 24.1 (iii). Moreover, the Agreement for Socio-Environmental Reparation envisages the inclusion of other parties, which depends on specific negotiation with such potential parties; (iv) Instrument of Agreement for Implementation of Socioeconomic Measures for the Requalification of the Flexal Area (“Flexal Agreement”) entered into with MPF, MPE, DPU and the Municipality of Maceió and ratified on October 26, 2022 by the 3 rd in the Flexais region, compensation to the Municipality of Maceió and indemnities to the residents of this location ; (v) Instrument of Global Agreement with the Municipality of Maceió (“Instrument of Global Agreement”) ratified on July 21, 2023 by the 3 rd The Company's Management, based on its assessment and that of its external advisers, taking into account the short and long-term effects of technical studies prepared, available information and the best estimate of expenses for implementing the measures related to the geological event in Alagoas, provision changes in the fiscal year ended on December 31, 2023 and 2022 were: Schedule of provision 2023 2022 Balance at the beginning of the year 6,627 7,661 Additions (*) 2,307 1,520 Payments (**) (3,826) (2,743) Realization of present value adjusment 132 188 Balance at the end of the year 5,240 6,627 Current liability 2,759 4,248 Non-current liability 2,481 2,379 Total 5,240 6,627 (*) In 2023, include: a) the additional provision of R$ 980 (R$ 920 net of present value adjustment) of the Instrument of Global Agreement of R$ 1.7 billion disclosed above, of which approximately R$ 720 were already provisioned. Of this amount, R$700 was disbursed in 2023 and R$1 billion (R$961 net of present value adjustment) is classified as other accounts payable; b) monetary adjustment in total of R$ 114 classified as financial expense. (**) Of this amount, R$2,686 (2022: R$ 2,532) refers to payments made and R$1,140 (2022: R$ 211) was reclassified to other accounts payable. The current provision can be segregated into the following action fronts: a. Support for relocation and compensation: These actions have a provision of R$ 1,353 2,087 b. Actions for closing and monitoring the salt cavities, environmental actions and other technical matters Based on preliminary results from the analysis of event in cavity 18, the indication is that filling with sand will not be necessary for this cavity. To find a definitive solution for the six cavities, previously expected to be monitored by sonar (monitoring group), the Company decided that they should be filled with sand. Considering the progress made in the last half of 2023 and the cavity 18 event, the new configuration of the closure plan for the 35 mining areas considers that: (i) 13 cavities are recommended to be filled with sand. Of these, filling for 5 has been completed, filling for 2 is in progress. For the 6 cavities recently included in the filling with sand group, the activities are under planning; (ii) 6 cavities do not have indication of additional measures, whereas natural filling was confirmed for 5 cavities and 1 cavity, the cavity 18, has its evaluation in progress, with an indication that filling with sand will not be required; (iii) 16 cavities should be buffered, which is a technique that consists of pressurizing the cavity. Of these, buffering was completed for 9. All Company's actions are based on technical studies prepared by outsourced specialists, whose recommendations are submitted to competent authorities and respect the periods of time agreed under the closing plan, which is public and regularly reevaluated jointly with the ANM. After the events in this period, the plan to close mining areas is under revision. The provisioned amount of R$ 1,583 1,367 Regarding environmental initiatives, in June 2022, in compliance with the Agreement for Socio-environmental Reparation, Braskem submitted to the MPF the environmental diagnosis containing the assessment of the potential environmental impacts and damages arising from salt mining activities and the environmental plan with proposals of the measures required. As established in the agreement, the parties jointly defined the specialized company that will evaluate and monitor the environmental plan. In December 2022, an additional report on the plan was filed with the MPF. In February 2023, MPF expressed its agreement with this environmental plan, incorporating the suggestions provided in the additional report. Braskem initiated the actions foreseen by the plan, implementing the commitments established in the agreement and sharing the results of its actions with the authorities. Also is agreed that the environmental diagnosis is expected to be updated in December 2025. As one of the developments of the cavity 18 event, although alteration in lagoon's water quality has not been identified, according to the Agreement for Social-Environmental Reparation, the specialized company will prepare an amendment to the current environmental diagnosis report. c. Social and urban measures allocating R$1,580 for the adoption of actions and measures in vacated areas, urban mobility and social compensation actions, of which R$300 going to indemnification for social damages and collective pain and suffering and possible contingencies related to the actions in the vacated areas and urban mobility actions. On June 30, 2022, the Company filed with MPF the social diagnosis report and the respective social action plan that will support the definition of measures to be adopted. Until December 31, 2023, 24 actions have already been approved. The current provision amount is R$1,369 (2022: R$1,567). d. Additional measures: The provisions of the Company are based on current estimates and assumptions and may be updated in the future due to new facts and circumstances, including, but not limited to: changes in the execution time, scope and method and the success of action plans; new repercussions or developments arising from the geological event, including possible revision of the Civil Defense Map; and possible studies that indicate recommendations from specialists, including the Technical Monitoring Committee, according to Agreement for Compensation of Residents as detailed in Note 24.1 (i), and other new developments in the matter. The measures related to the mining areas closure plans are also subject to the analysis and approval by ANM, the monitoring of results of the measures under implementation as well as changes related to the dynamic nature of geological event. Continuous monitoring is essential for confirming the results of the current recommendations. Accordingly, the plan to close the mining areas may be updated based on the need to adopt technical alternatives to stabilize the subsidence phenomena arising from the extraction of salt. In addition, the assessment of the future behavior of cavities monitored mainly using sonar and piezometers could indicate the need for certain additional measures to stabilize them. The actions to repair, mitigate or offset potential environmental impacts and damages, as provided for in the Socio-environmental Reparation Agreement, were defined considering the environmental diagnosis already prepared by a specialized and independent company. After the conclusion of all discussions with authorities and regulatory agencies, as per the process established in the agreement, an action plan was agreed to be part of the measures for a Plan to Recover Degraded Areas (“PRAD”). On December 13, 2023, the Senate established a Parliamentary Inquiry Commission ("CPI") in relation to the geological event in Alagoas. The Company is monitoring the matter. An investigation has been carried out under secrecy by the Federal Police in Alagoas for around four years. In December 2023, the Federal Police conducted search and seizure of documents under this investigation, named Salt Tears Operation. In this sense, the Company informs that it is and has always been at the disposal of authorities and that it has been providing all the information related to salt mining during the investigation. The Company has been making progress with local authorities about other indemnification requests to understand them better. Although future disbursements may occur as a result of progress in negotiations, as of the reporting date, the Company is unable to predict the results and timeframe for concluding these negotiations or its possible scope and the total associated costs in addition to those already provisioned for. It is not possible to anticipate all new claims, related to damages or other nature, that may be brought by individuals or groups, including public or private entities, that understand they suffered impacts or damages somehow related to the geological phenomenon and the relocation of people from risk areas, as well as new notices of infraction or administrative penalties of diverse natures. Braskem continues to face and could still face administrative procedures and various lawsuits filed by individuals or legal entities not included in the PCF or that disagree with the financial compensation offer for individual settlement, as well as new collective actions and new lawsuits filed by public utility concessionaires, entities of the direct or indirect administration of the State, Municipality or Federal level. Therefore, the number of such actions, their nature or the amounts involved cannot be estimated. Consequently, the Company cannot eliminate the possibility of future developments related to the geological event in Alagoas, the relocation process and actions in vacated and adjacent areas, so the expenses to be incurred may differ from its estimates and provisions. In February 2023, the Company signed a settlement agreement with the insurance companies related to the claim for the geological event in Alagoas. 24.1 Main lawsuits and contingent liabilities in progress In the context of this event, the following lawsuits were filed against the Company: (i) Public-Interest Civil Action (“ACP”) filed by the Alagoas State Prosecution Office and the Alagoas State Public Defender’s Office – Reparation for Residents In June 2019, the Company was informed of the Public-Interest Civil Action claiming the payment of indemnification for damages caused to the buildings and the residents of areas affected in the Pinheiro district and surrounding areas, in the total minimum amount of R$6.7 billion, with initial request for provisional measure to freeze the Company’s financial and other assets in the same amount. Successive orders to freeze funds resulted in the court blocking of R$3.7 billion in assets in 2019, and the unfreezing occurred in January 2020. Once the case was sent to the Federal Courts, the Federal Prosecution Office started to participate in the action. The first agreement under this Public-Interest Civil Action (Reparation for Residents) was ratified on January 3, 2020. The Agreement to Support the Relocation of People in Risk Areas (“Agreement for Compensation of Residents”), entered into by Braskem and the MPE, the DPE, the MPF and the DPU (“Authorities”), establishes cooperative actions for relocating people in risk areas and guaranteeing their safety, which provides support under the Financial Compensation and Support for Relocation Program implemented by Braskem, for the population in specified risk areas. After updates of the Civil Defense Map, two legal instruments were entered into with the Authorities, in July and October 2020, to include properties in the PCF. On December 30, 2020, the Company and the Authorities executed a second amendment to the Agreement for Compensation of Residents to terminate the Public-Interest Civil Action, through which the parties agreed to include in PCF the relocation of additional properties defined in the updated version of the Civil Defense Map, of December 2020, and in the independent technical and specialized studies engaged by the Company on the potential impact of the geological event on the surface of the region (“Studies”). The Agreement for Compensation of Residents includes the area currently affected by the geological event, according to the Civil Defense, and the areas with potential future impacts indicated in the Studies. To implement the actions envisaged in the Public-Interest Civil Action, the Company undertook to maintain R$2.7 billion in a checking account (R$1.7 billion under the Agreement for Compensation of Residents and an additional R$1 billion under the second amendment), with minimum working capital of R$100, whose transactions will be verified by an external audit company. On December 31, 2023, arising from the costs incurred related to the PCF, the balance of this checking account corresponded to R$115 under current assets (2022: R$175). In addition, the Company and the Authorities agreed to: (i) create a technical group (Technical Monitoring Committee) to monitor the geological event and study the areas adjacent to the Civil Defense Map for a period of five years; and (ii) maintain a performance bond in the current amount of R$615 (down from the R$2 billion performance bond envisaged in the Agreement for Compensation of Residents). With the judicial ratification by the courts of the Agreement for Compensation of Residents on January 6, 2021, this Public-Interest Civil Action was terminated. (ii) Public-Interest Civil Action (ACP) filed by the Federal Prosecution Office (MPF), Federal Public Defender’s Office (DPU) and Alagoas State Prosecution Office (MPE/AL): Reparation for Residents – Map Version 5 On November 30, 2023, the Company was informed of the Public-Interest Civil Action filed by the MPF, DPU and MPE against the Municipality of Maceió and Braskem, with a request for a injunctive relief based on evidence, against the Municipality of Maceió: (i) the disclosure of the new Map of Priority Action Lines, Version 5, and (ii) preparation of the Action Plan to address issues related to the identification of the roads and public equipment located in the region. Against Braskem, they request through a preliminary injunction: (i) inclusion in the PCF of the new criticality area 00 (area defined by the Civil Defense of Maceió with recommendation of allocation) of Version 5 of the Civil Defense Map and making feasible the optional inclusion of all residents affected whose properties are located in the criticality area 01 (area defined by the Civil Defense of Maceió with recommendation of monitoring) of Version 5 of the Map, with inflation adjustment corresponding to the amounts adopted by the PCF; (ii) establishment, with the permission of the affected party of the criticality area 01, of a Program for Reparation of Damage to Properties resulting from the alleged depreciation of the property, as well as the alleged pain and suffering resulting from the inclusion of the property in the Map; (iii) engagement of independent and specialized firm to identify the alleged damage to properties if the affected party decides to remain in the area of criticality 01 of Version 5 of the Civil Defense Map; and (iv) engagement of independent and specialized technical advisory to provide support to the affected parties in the analysis of the scenarios and decision-making of their relocation or staying in the area. On the merits, they request confirmation of the preliminary injunctions. On November 30, 2023, the judge rendered a decision granting the injunctive relief based on evidence of the plaintiffs. Against this decision, Braskem proposed suspension of the preliminary injunction and filed an interlocutory appeal. On January 22, 2024, the decision rendered in the interlocutory appeal determined “the immediate suspension of the provisory execution determined by the trial court”, decision maintained by the full court until the final and unappealable judgment of the interlocutory appeal. The amount assigned to the case by the plaintiffs in the lawsuit is R$ 1 The Management, supported by the opinion of the external legal advisors, classifies the probability of loss in this case as possible. (iii) Public-Interest Civil Action filed by the Alagoas State Federal Prosecution Office – Social-environmental reparation In April 2020, the Company was informed of the Public-Interest Civil Action claiming the payment by the Company of indemnification for socio-environmental damages and other collective damages, as well as the adoption of corrective and environmental compliance measures, with preliminary injunction requiring the freezing of assets, suspension of borrowings with the Brazilian Development Bank (“BNDES”), formation of an own private fund in the initial amount of R$ 3.1 20.5 27.6 On December 30, 2020, the Agreement for Socio-environmental Reparation was executed, with the Company mainly undertaking to: (i) adopt measures to stabilize and monitor the subsidence phenomenon resulting from salt mining; (ii) repair, mitigate or compensate potential impacts and environmental damages arising from salt mining in the Municipality of Maceió; and (iii) repair, mitigate or compensate potential impacts and social and urban damages arising from salt mining in the Municipality of Maceió, as detailed below: (i) To stabilize the cavities and monitor the soil, the Company continues to implement the action plans involving the closure of mining fronts prepared by Braskem and approved by the ANM, whose measures can be adjusted until the stability of the subsidence phenomenon resulting from salt mining is verified. (ii) Regarding the potential environmental impacts and damages resulting from salt mining in the Municipality of Maceió: as agreed with the MPF, the Company hired a specialized independent company to identify and recommend measures for recovering, mitigating or compensating any environmental impacts identified as the result of salt mining activities in Maceió. The study and the second opinion report on the environmental planning were delivered to the MPF on June 30, 2022 and December 7, 2022, respectively, and will follow the procedures as per the agreement for final consolidation of the actions to be adopted in the mutual agreement between the Company and the MPF, but it is not possible to predict the outcome or if it will result in additional amounts other than those already recorded in the provision. (iii) Regarding potential impacts and social and urban damages arising from salt mining in the city of Maceió: to allocate the maximum amount of R$1.3 billion for adopting actions and measures in vacated areas, urban mobility actions and social compensation actions. For these social compensation actions and measures, on June 30, 2022, the Company filed with the MPF the report and the respective plan of social action that will be used as base to define the measures to be adopted. Braskem also will allocate the amount of R$300 for indemnification for social and collective pain and suffering and possible contingencies related to actions in vacated areas and in urban mobility actions. The Company and the Federal Prosecution Office also agreed to hire a specialized consultancy to evaluate the Company’s Social and Environmental Management Program and on the pledging of security interest involving certain assets of the Company in the amount of R$2.8 billion to substitute the performance bond of R$1 billion. The Agreement for Socio-environmental Reparation was ratified by Court on January 6, 2021, with the termination of the Public-Interest Civil Action for Socio-environmental Reparation regarding to Braskem. Finally, under the Agreement for Socio-environmental Reparation, on January 21, 2021 the Civil Investigation launched in June 2020 by the MPE was terminated. It aimed to: (i) calculate the extent of the urban damages caused by the geological event that occurred in Maceió; (ii) seek, from liable parties, necessary and adequate architectural solutions for the destination, restoration and/or use of the cited empty spaces left in the districts impacted; (iii) calculate, if applicable, potential compensatory liabilities for the damages caused to the urban order. On July 21, 2023, the 3 rd (iv) Public-Interest Civil Action filed by the State Public Defender's Office of Alagoas: Request for Additional Collective Moral Damages In March 2024, the Company was informed of the Public-interest Civil Action filed by DPE against Braskem, seeking, among other requests, to challenge clause 69 of the Agreement for Socio-environmental Reparation (payment of R$ 150 for collective moral damages) alleging that there were facts subsequent to the date of the agreement that would give rise to additional damages. DPE sustains that: (i) the waiver set forth in the Agreement for Socio-environmental Reparation would not cover future damages; (ii) the transfer of the property of the PCF to Braskem would violate constitutional principles; (iii) the damage caused should be fairly compensated; (iv) collective existential damages should be compensated; and (v) Braskem should be condemned for illicit profit, yet to be liquidated. Based on such allegations, it requests, as a preliminary measure: (i) the suspension of clause 58, second paragraph, of the Agreement for Socio-environmental Reparation, in order to rule out the possibility of reversion of the area to the benefit of Braskem; (ii) the imposition of inalienability to the PCF area until the final and unappealable decision on the merits of the claim, considering the need for the assets acquired by the Financial Compensation Program not to be subject to any disposal, nor subject to seizure. On the merits, it requests, among others: (i) the loss of all properties subject to the PCF, with the possibility of reverting the area to the victims or to public domain, in addition to the conviction of Braskem to the payment, as collective and social moral damages, to the same amount spent by Braskem for material damages; (ii) the conviction of Braskem, as existential damages, for the loss of all properties subject to the PCF; (iii) the conviction of Braskem for illicit profit, with the loss of the PCF properties, in addition to the payment of the amounts the Company obtained due to its alleged illicit conduct (to be determined in a liquidation proceeding); (iv) subpoena to the Investor Relations Officer, for the purposes of regulatory obligations, with publication of a relevant fact. The value of the case attributed by the DPE is R$150. Management, supported by the opinion of external legal advisors, classifies the probability of loss in this case as possible. (v) Public-Interest Civil Action filed by the Federal Public Defender’s Office (“DPU”): refusal of insurance within the scope of Housing Financial System (“SFH”) In November 2021, the Company was informed of the Public-Interest Civil Action filed by DPU to question the denial of necessary insurance for contracts under the SFH to acquire properties located within a radius of 1 km outside the risk area defined by the version 4 map of Civil Defense authorities, which is the subject matter of the Residents PCA agreement – see item (i). Insurers linked to SFH, financial agents, the regulatory agency and Braskem are the defendants. The main claim is only against the insurers, financial agents and the regulatory agency on the grounds that the refusal to contract the insurance is abusive and has no technical or legal grounds. There is a secondary and eventual claim to sentence Braskem to pay indemnification in an amount to be settled in the future, if the judge understands that the refusal somehow has grounds due to the subsidence phenomenon. On January 10, 2024, a decision was rendered partially ordering the insurance companies to: (i) refrain from applying the safety margin beyond the risk area defined by the Civil Defense and engaging in unfair pricing and increases to avoid contracting insurance coverage for properties out of and next to the risk area, declaring that there were no denials/decreases in the insurance coverage based exclusively on the safety margin, (ii) call everyone who is interested to reassess the request for housing insurance. Braskem was not found guilty, however an appeal against this decision is possible. It is not possible to estimate the indemnification amount, which will depend on the evidence of damages submitted by people whose insurance was denied. The Management, supported by the opinion of the external legal advisors, classifies the probability of loss in this case as possible. (vi) Public-Interest Civil Action filed by the Alagoas State Public Defender’s Office – Review of terms of the Flexal Agreement In March 2023, the Company was informed of the Public-interest civil action filed by DPE against the Company, the Federal Government, the State of Alagoas and the Municipality of Maceió seeking, among other claims, the revision of terms of the Flexal Agreement, signed amongst Braskem, the MPF, the MPE, the DPU, and Municipality of Maceió, ratified on October 26, 2022, by the 3 rd Through this lawsuit, the DPE seeks, among other claims, the inclusion of residents of Flexais region, who choose to adhere the PCF, program created under the agreement in ACP (Reparation for Residents), with consequent reallocation of these residents and compensation for moral and material damages in parameters specified in the ACP. As injunction relief, DPE also requested, that the Municipality of Maceió and Braskem initiated the registration of all residents who requested to be relocated and their concomitant inclusion in the PCF, or, alternatively, requested the freeze of Braskem bank accounts in the amount of R$ 1.7 1.9 On January 19, 2024, a decision was rendered, judging partially valid the requests made by the DPE. The judge determined the following: (i) deny the request for annulment of the clauses of Flexal Agreement, stating, however, that the settlement described in the agreement must be interpreted as settlement until the date of execution of the agreement, and does not cover property damages related to real estates and their depreciation; (ii) deny the request for payment of collective pain and suffering; (iii) grant the payment for pain and suffering while the effects of social isolation persist. The judgment validated the parameters of the program provided in the Flexal Agreement, however it understood that the amounts paid in the program correspond to the period between October 2020 and the date the Flexal Agreement was entered into, therefore payments must continue until the effective requalification of the Flexais region; (iv) grant the request for indemnity for property damages resulting from the real estate depreciation to be estimated during the phase of fulfillment of the judgment; (v) determine the development of the case to adjudicate the request for relocation of residents, among others. The Management, supported by the opinion of the external legal advisor, classifies the probability of loss in this lawsuit as possible. (vii) Public-Interest Civil Action filed by the Federation of Fishermen of the State of Alagoas (“FEPEAL”) and National Confederation of Fishermen and Aquaculturists (“CNPA”): Fishermen Reparation In August 2023, the Company was informed of the . As a preliminary measure, the Associations requested, among other claims, that the Company provision sufficient funds to guarantee the compensation of fishermen included in the public-interest civil action, while publishing a material fact notice to the shareholders, requests that were denied by the Court. Among other requests, the Associations claim the payment of: (i) compensation for (a) individual and homogeneous moral damages suffered, in the amount of R$ 50 132 100 750 20 . On December 31, 2023, the plaintiffs’ claims amount to R$ 1.9 1.6 R$ 321 (viii) Public-Interest Civil Action filed by the Federation of Fishermen of the State of Alagoas (“FEPEAL”): Fishermen Financial Assistance On December 13, 2023, the Company became aware of the ACP, with request for advance relief, filed by FEPEAL, which requested the pa |
Benefits offered to employees
Benefits offered to employees | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Benefits offered to employees | 25 Benefits offered to employees 25.1 Short-term benefits The obligations of short-term benefits for employees are recognized as personnel expenses as the corresponding service is rendered. The liability is recognized at the amount of the expected payment if the Company has a legal or constructive obligation to pay the amount due to services rendered by an employee in the past and the obligation can be reliably estimated. The amounts recognized in profit or loss were: Schedule of short-term benefits 2023 2022 2021 Health care 272 244 236 Private pension 118 128 137 Transport 91 86 77 Meals 70 63 51 Life insurance 12 10 10 Training 22 27 16 Other 26 16 13 611 574 540 25.2 Long-term incentive plan (“ILP Plan”) On March 21, 2018, the Extraordinary Shareholders Meeting approved the Long-Term Incentive Plan with the grant of Restricted Shares (“ILP Plan”) to align the interests of shareholders and executive officers (participants) and to promote their continued employment at the Company. The grant is subject to the voluntary investment of own financial resources by participants in the shares issued by the Company (tickers BRKM5 or BAK). To acquire the right, participants must maintain their employment relationship with the Company and hold uninterruptedly the shares acquired during the three-year vesting period. When the conditions to obtain the right are met, the Company transfers to participants the number of restricted shares to which they are entitled, which are held in treasury or acquired through repurchase program. If the transfer is not possible, the Company will pay to participants, in cash, the amount equivalent to the shares granted at the share price traded on stock exchange on the second business day immediately prior to the respective payment date. The fair value of shares on the grant date is recognized on a straight-line basis under personnel expenses during the vesting period, reflecting the expected number of shares that will meet the conditions to obtain the right, in such a way that the end amount recognized as an expense is based on the number of shares that effectively meet the conditions on the vesting date. The form of settlement of the ILP Plan determines the corresponding entry of expenses, which is recognized under equity for payment of shares and recognized under liabilities for cash payment, with the liability remeasured on each reporting date and on the settlement date, based on the American Depositary Receipt price. Any changes in the fair value of the liability are recognized as personnel expenses. The programs listed below were approved by the Board of Directors under the terms and conditions of the Long-Term Incentive Plan, which includes a list of eligible people, the period for acquisition of own shares by the participants and the number of restricted shares to be delivered to participants as consideration for each share acquired. Schedule of long term incentive plan Flat Grant Date End of Grace Period Settlement Method Granted quantities (-) Canceled (-) Qty. on 12/31/2022 (+) Granted (-) Canceled (-) Qty. on 12/31/2023 Fair value of the share* 2020 Plan 04/01/20 04/01/23 Shares 1,007,883 (72,743) (2,373) 932,767 (5,683) (927,084) 2020 Plan 04/01/20 04/01/23 Cash 314,333 (47,943) 266,390 (4,887) (261,503) 2021 Plan 05/10/21 05/10/24 Shares 557,888 (9,598) 548,290 (31,751) 516,539 R$ 51.39 2021 Plan 05/10/21 05/10/24 Cash 144,779 144,779 (3,879) 140,900 USD 9.67 2022 Plan 05/17/22 05/17/25 Shares 537,870 537,870 (32,462) 505,408 R$ 44.15 2022 Plan 05/17/22 05/17/25 Cash 132,902 132,902 (1,115) 131,787 USD 9.67 2023 Plan 09/06/23 09/06/26 Shares 931,050 931,050 R$ 23.02 2023 Plan 09/06/23 09/06/26 Cash 213,400 (5,080) (114) 208,206 USD 7.16 (*) Values in monetary units. On December 31, 2023, the amount recorded in equity is R$ 37 39 25.3 Post-employment benefits (i) Defined contributions plans The obligations for contributions to defined contribution plans are recognized in profit or loss as personnel expenses when the related services are provided by employees. The contributions paid in advance are recognized as an asset to the extent that a cash reimbursement or a reduction in future payments is possible. (ii) Defined benefit plans The Company’s net obligation for defined benefit plans is calculated for each of the plans based on the estimated amount of future benefit that employees will receive in return for services rendered in the current and prior periods. Such amount is discounted to its present value and is reported net of the fair value of any of the plan’s assets. The calculation of the obligation of the defined benefit plan is made annually by a qualified actuary using the projected unit credit method. When calculations result in a potential asset for the Company, the asset to be recognized is limited to the present value of economic benefits available as future plan reimbursements or as a reduction in future contributions to the plan. To calculate the present value of economic benefits, any applicable minimum cost requirements are taken into account. Remeasurements of net obligation, which include: actuarial gains and losses, return on plan assets (excluding interest) and the effects of the asset cap (if any, excluding interest), are immediately recognized in other comprehensive (loss) income. (iii) Health care The Company’s net obligation for health care is the estimated amount of future benefit that employees will receive in return for services provided in the prior periods. Such amount is discounted to its present value and remeasurements are recognized in profit or loss for the period. The calculation of health care obligations mainly consider the Company’s aging and premium history, medical cost inflation and new technologies. (a) Amounts in statement of financial position Schedule of amounts in statement of financial position 2023 2022 Defined benefit Novamont Braskem America 57 58 Braskem Idesa 30 23 Braskem Alemanha and Netherlands 165 148 252 229 Health care (i) Bradesco saúde 368 322 Total obligations 620 551 Fair value of plan assets (53) (57) Consolidated net balance (non-current liabilities) 567 494 (i) According to Brazilian laws, the type of health plan offered by Braskem, named contributory plan, ensures to the participant who retires or is dismissed without cause the right to remain in the plan with the same assistance coverage conditions they had during the employment term, provided they assume the full payment of the plan (Company’s part + participant’s part). (b) Change in obligations and fair value Schedule of changes in obligation and fair value 2023 2022 2021 Health Benefit Health Benefit Health Benefit care plans Total care plans Total care plans Total Balance at beginning of year 322 229 551 245 363 608 218 370 588 Current service cost 5 8 13 5 13 18 5 14 19 Interest cost 29 13 42 20 7 27 16 6 22 Benefits paid (15) (6) (21) (13) (34) (47) (11) (7) (18) Actuarial losses (gain) 27 27 65 (83) (18) 17 (27) (10) Exchange variation 8 8 (37) (37) 7 7 Balance at the end of the year 368 252 620 322 229 551 245 363 608 On December 31, 2023, the balance of the fair value of assets is represented by the assets of the Novamont defined benefit plan, which has a level-1 fair value hierarchy. (c) Actuarial assumptions Schedule of actuarial assumptions 2023 2022 2021 Novamont Novamont Novamont Health Braskem Braskem Health Braskem Braskem Health Braskem Braskem care America Idesa Germany Netherlands care America Idesa Germany Netherlands care America Idesa Germany Netherlands Discount rate 5.35 5.20 10.50 3.60 4.15 5.97 5.10 8.00 1.20 3.60 5.33 2.90 8.00 1.20 1.20 Inflation rate 3.00 n/a 3.50 2.00 2.00 3.00 n/a 4.00 2.00 2.00 3.00 n/a 4.00 2.00 2.00 Rate of increase in future salary levels n/a n/a 4.50 3.25 3.25 n/a n/a 5.00 3.00 3.25 n/a n/a 5.00 3.00 3.00 Rate of increase in future pension plan n/a n/a n/a 2.25 2.25 n/a n/a n/a 1.75 2.25 n/a n/a n/a 1.75 1.75 Aging factor 2.50 n/a n/a n/a n/a 2.50 n/a n/a n/a n/a 2.50 n/a n/a n/a n/a Medical inflation 3.25 n/a n/a n/a n/a 3.50 n/a n/a n/a n/a 3.50 n/a n/a n/a n/a Duration 12.10 n/a n/a n/a n/a 12.83 n/a n/a n/a n/a 14.16 n/a n/a n/a n/a (d) Sensitivity analysis Schedule of sensitivity analysis Impact on the defined benefit obligation Premise change Premise increase Premise reduction Novamont Novamont Novamont Health Braskem Braskem Health Braskem Braskem Health Braskem Braskem care America Idesa Germany Netherlands care America Idesa Germany Netherlands care America Idesa Germany Netherlands Discount rate 1.00 1.00 1.00 0.25 0.25 38 (2) 2 (6) 47 9 2 7 4 Rate of increase in future pension plan 1.00 n/a n/a 0.25 0.25 (9) n/a n/a 5 9 n/a n/a (5) Life expectancy 1.00 n/a n/a 1 1 49 n/a n/a 4 (40) n/a n/a (4) Mortality rate n/a 10.00 n/a n/a n/a n/a 1 n/a n/a n/a n/a 5 n/a n/a n/a |
Equity
Equity | 12 Months Ended |
Dec. 31, 2023 | |
Equity | |
Equity | 26 Equity 26.1 Capital On December 31, 2023, the Company’s subscribed and paid-up capital stock amounted to R$ 8,043 and comprised 797,207,834 shares with no par value, distributed as follows: Schedule of capital Amount of shares Common Preferred shares Preferred shares shares % class A % class B % Total % Novonor 226,334,623 50.11 79,182,498 22.95 305,517,121 38.32 Petrobras 212,426,952 47.03 75,761,739 21.96 288,188,691 36.15 ADR (i) 62,466,606 18.10 62,466,606 7.84 Other 12,907,077 2.86 127,649,522 36.99 478,790 100.00 141,035,389 17.69 Total 451,668,652 100.00 345,060,365 100.00 478,790 100.00 797,207,807 100.00 Treasury shares 27 27 Total 451,668,652 100.00 345,060,392 100.00 478,790 100.00 797,207,834 100.00 Authorised 535,661,731 616,682,421 593,818 1,152,937,970 (i) American Depositary Receipt ("ADR") traded on the New York Exchange - NYSE (USA) Changes in shares during the year: Schedule of changes in shares Amount of shares Note 2022 Changes 2023 Outstanding shares Commom shares 451,668,652 451,668,652 Preferred Class A 26.2 344,394,984 665,381 345,060,365 Preferred Class B 478,790 478,790 796,542,426 665,381 797,207,807 Treasury shares Preferred Class A 26.2 665,408 (665,381) 27 Total 797,207,834 797,207,834 26.2 Share Rights Preferred shares carry no voting rights, but they ensure priority, non-cumulative annual dividend of 6% of their unit value, according to profits available for distribution. The unit value of the shares is obtained through the division of capital by the total number of outstanding shares. As common shares, only class “A” preferred shares will have the same claim on the remaining profit that exceeds the minimum mandatory dividend of 6% and will be entitled to dividends only after the priority dividend is paid to preferred shareholders. Only class “A” preferred shares also have the same claim as common shares on the distribution of shares resulting from capitalization of other reserves. Class “A” preferred shares can be converted into common shares upon resolution of majority voting shareholders present at a General Meeting. Class “B” preferred shares can be converted into class “A” preferred shares at any time, at the ratio of two class “B” preferred shares for one class “A” preferred share, upon a simple written request to the Company, provided that the non-transferability period provided for in specific legislation that allowed for the issue and payment of such shares with tax incentive funds has elapsed. In 2023, 665,381 236,758 26.3 Capital reserves This reserve includes part of the shares issued in the Company’s several capital increases. This reserve can be used to absorb losses, to redeem, reimburse or purchase shares, and to incorporate into the capital stock. 26.4 Profit reserves (a) Legal reserve Under Brazilian Corporation Law, companies must transfer 5% of net profit for the year to a legal reserve until this reserve is equivalent to 20% of the paid-up capital. The legal reserve can be used for capital increase or absorption of losses. (b) Tax incentive reserve This reserve results from the allocation of part of net income for the year equivalent to tax incentives, arising from governmental subsidies (see Note 30). This reserve may only be used to offset losses with subsequent reconstitution or increase share capital. (c) Profit retention Under Brazilian Corporation Law, portions of net income for the fiscal year may be allocated to reserves or retained based on the capital budget. Profits not allocated as such may be distributed to shareholders in the form of dividends. In 2023, this reserve was partially used to absorb losses for the year (Note 27.6). 26.5 Accumulated losses Accumulated losses in 2023 were partially absorbed as follows: Schedule of accumulated losses 2023 Loss for the year of the Company's shareholders (4,579) Amounts posted directly to the Retained Earnings account: Realization of deemed cost of parent company, net of taxes15 15 (4,564) Loss absorption using profit reserve: Profit reserves 1,826 Accumulated losses (2,738) |
Earnings (loss) per share
Earnings (loss) per share | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Earnings (loss) per share | 27 Earnings (loss) per share Basic earnings (loss) per share is calculated by means of the division of profit (loss) for the year attributable to the Company’s common and preferred shareholders by the weighted average number of these shares held by shareholders, excluding those held in treasury and following the rules for the distribution of dividends provided for in the Company’s bylaws, as described in Note 26.2, particularly in relation to the limited rights enjoyed by class “B” preferred shares. The calculation of the diluted earnings (loss) per share is based on the weighted average of class “A” preferred shares, assuming the conversion of all preferred shares into treasury that would cause the dilution. Class A preferred shares participate in dividends with common shares after the mandatory dividends has been attributed in accordance with the formula provided for in the Company’s bylaws, as described in Note 26.2 and there is no highest limit for their participation. The table below shows the reconciliation of profit or loss for the period adjusted for the amounts used to calculate basic and diluted earnings (losses) per share. Schedule of reconciliation of profit or loss 2023 2022 2021 Basic and diluted Basic and diluted Basic Diluted (Loss) profit for the year attributed to Company's shareholders (4,579 (336 13,985 13,985 Distribution of priority dividends attributable to: Preferred shares class "A" 209 209 Preferred shares class "B" 0 0 209 209 Distribution of 6% ​​of unit price of common shares 274 274 Distribution of excess profits, by class: Common shares 7,664 7,664 Preferred shares class "A" 5,838 5,838 13,502 13,502 Reconciliation of (loss) income available for distribution, by class (numerator): Common shares (2,595 (191 7,938 7,938 Preferred shares class "A" (1,981 (145 6,047 6,047 Preferred shares class "B" (3 (4,579 (336 13,985 13,985 Weighted average number of shares, by class (denominator): Common shares 451,668,652 451,668,652 451,668,652 451,668,652 Preferred shares class "A" 344,796,036 344,329,470 344,054,700 345,049,701 Preferred shares class "B" 478,790 478,790 500,171 500,171 796,943,478 796,476,912 796,223,523 797,218,524 Profit (loss) per share (in R$) Common shares (5.7458 (0.4215 17.5747 17.5747 Preferred shares class "A" (5.7458 (0.4215 17.5749 17.5242 Preferred shares class "B" (5.7458 (0.4215 0.5798 0.5798 Weighing of shares 2023 Basic Preferred shares Class "A" Outstanding Weighted shares average Amount at beginning of the year 344,394,984 344,394,984 Incentive long term plan payments with treasury shares 665,381 401,052 Amount at the end of the year 345,060,365 344,796,036 2022 Basic Preferred shares Class "A" Outstanding Weighted shares average Amount at beginning of the year 344,158,226 344,158,226 Incentive long term plan payments with treasury shares 236,758 171,244 Amount at the end of the year 344,394,984 344,329,470 2021 Basic Preferred shares Class "A" Class "B" Outstanding Weighted Outstanding Weighted shares average shares average Amount at beginning of the year 343,824,794 343,824,794 500,230 500,230 Incentive long term plan payments with treasury shares 322,712 229,877 Conversion shares class "B" into shares class "A" 10,720 29 (21,440) (59) Amount at the end of the year 344,158,226 344,054,700 478,790 500,171 |
Net revenue
Net revenue | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Net revenue | 28 Net revenue Schedule of net sales and service revenue 2023 2022 2021 Net sales and services revenue 70,569 96,519 105,625 Revenue from sales of products is recognized when the control of assets is transferred to the customer for an amount that reflects the consideration to which the Company expects to be entitled in exchange of these assets. The performance obligations are met at a specific moment in time. The Company does not make sales with continued management involvement. Most of the Company’s sales are made to industrial customers and, in a lower volume, to resellers. The specific moment when the Company satisfies a performance obligation by transferring a promised good or service to the client is determined as follows: (i) for contracts under which the Company is responsible for the freight and insurance, the legal right and the risks and benefits are transferred to the client when the goods are delivered at the destination established in the contract; (ii) for agreements under which the freight and insurance are a responsibility of the client, risks and benefits are transferred when the products are delivered to the client’s carrier; and (iii) for contracts under which product delivery involves the use of pipelines, especially basic petrochemicals, the risks and benefits are transferred immediately after the Company’s official markers, which is the point of delivery of the products and transfer of their ownership. (a) Net revenue by country Schedule of net revenue by country 2023 2022 2021 Brazil 39,997 56,217 55,830 United States 12,429 18,086 24,232 Mexico 3,329 4,469 5,506 Argentina 1,618 756 2,068 Germany 1,197 1,493 1,912 Switzerland 1,121 1,695 1,231 Italy 1,061 817 1,304 Chile 1,039 2,093 1,230 Netherlands 859 173 643 Luxembourg 755 871 988 Singapore 729 1,095 1,175 Peru 676 740 667 Japan 634 547 1,162 Spain 574 756 518 United Kingdom 554 724 586 Other 3,997 5,987 6,573 70,569 96,519 105,625 (b) Net revenue by product Schedule of net revenue by product 2023 2022 2021 PE/PP 44,295 61,145 73,306 Ethylene/Propylene 4,435 7,280 5,820 PVC/Caustic Soda/EDC 5,863 5,723 6,873 ETBE/Gasoline 4,309 5,819 4,321 Benzene/Toluene/Xylene 3,721 5,711 5,806 Butadiene 1,211 3,028 3,020 Cumene 1,126 1,425 1,129 Solvents 1,046 422 1,343 Naphtha, condensate and crude oil 638 1,522 1,649 Others 3,925 4,444 2,358 70,569 96,519 105,625 (c) Main clients The Company does not have any revenue arising from transactions with only one client that is equal to or higher than 10 2.1 |
Tax incentives
Tax incentives | 12 Months Ended |
Dec. 31, 2023 | |
Tax Incentives | |
Tax incentives | 29 Tax incentives (a) SUDENE – IR Since 2015, the Company obtained grant in lawsuits claiming the reduction of 75 Cloro Soda 10 In 2023, the Company recorded a tax loss and, for such reason, did not make use of tax benefits. (b) PRODESIN – ICMS Since 2010, the Company has ICMS tax incentives granted by the state of Alagoas, through the state of Alagoas Integrated Development Program (“PRODESIN”), which are aimed at implementing and expanding a plant in that state. In 2023, the amount was R$ 58 87 |
Expenses by nature and function
Expenses by nature and function | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Expenses by nature and function | 30 Expenses by nature and function Schedule of expenses by nature and function 2023 2022 2021 Classification by nature: Raw materials other inputs (54,602) (73,182) (63,570) Personnel expenses (3,599) (3,223) (3,478) Outsourced services (3,094) (3,412) (3,194) Depreciation and amortization (5,206) (4,733) (4,178) Freights (4,134) (4,035) (2,966) Idle industrial plants (503) (414) (339) Alagoas geological event (Note 24) (2,193) (1,520) (1,340) Other income 1,769 507 1,843 Other expenses (1,806) (2,270) (3,394) Total (73,368) (92,282) (79,586) Classification by function: Cost of products sold (67,548) (85,161) (73,568) Selling and distribution (1,916) (2,108) (2,056) Loss for impairment of trade accounts receivable and others from clients (83) (38) (9) General and administrative (2,472) (2,764) (2,522) Research and development (383) (374) (297) Other income (i) 1,769 507 1,534 Other expenses (ii) (2,735) (2,344) (2,669) Total (73,368) (92,282) (79,586) (i) In 2023, refers mainly to settlement of claim agreement signed with insurance companies and the final and unappealable decision on the unconstitutionality of the surcharge in the PIS and COFINS rates incurred on operations involving the sale of gasoline and diesel oil . (ii) Refers mainly to expenses incurred with the geological event in Alagoas . |
Financial results
Financial results | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Financial results | 31 Financial results Transactions in foreign currencies are translated into the respective functional currency of the Company’s subsidiaries at the exchange rates in effect on the transaction dates. Monetary assets and liabilities denominated and measured in foreign currency on the reporting date are re-translated into the functional currency at the exchange rate on said date. Non-monetary assets and liabilities measured at fair value in foreign currency are re-translated into the functional currency at the exchange rate on the date on which the fair value was determined. Non-monetary items that are measured based on the historical cost in foreign currencies are translated at the exchange rate on the date of the transaction. The differences in foreign currencies resulting from conversion are recognized in financial income or loss, unless the liability involves a cash flow hedge accounting relationship. Schedule of financial income or loss 2023 2022 2021 Financial income Interest income 1,469 1,050 440 Inflation indexation income on tax assets 51 16 1,042 Other 158 308 99 1,678 1,374 1,581 Financial expenses Interest expenses (3,780) (3,125) (2,923) Inflation indexation expenses on tax liabilities (107) (266) (94) Discounts granted (14) (129) (76) Loans transaction costs - amortization (189) (261) (691) Adjustment to present value - appropriation (616) (581) (179) Interest expense on leases (281) (203) (174) Other (602) (501) (766) (5,589) (5,066) (4,903) Derivatives and exchange rate variations, net On financial assets (751) (522) 230 On financial liabilities 1,351 (50) (4,233) Gain on derivatives 83 636 246 Losses on derivatives (172) (597) (1,004) 511 (533) (4,760) Total (3,400) (4,225) (8,082) The effects from exchange variation on the Company’s transactions are mainly due to the variations in the following currencies: Schedule of effects from exchange variation End of year rate Average rate Variation 2023 2022 Variation 2023 2022 2021 2023/2022 2022/2021 U.S. dollar - Brazilian real 4.8413 5.2177 -7.21 4.9953 5.1655 5.3956 -3.29 -4.26 Euro - Brazilian real 5.3516 5.5694 -3.91 5.4023 5.4420 6.3784 -0.73 -14.68 Mexican peso - Brazilian real 0.2856 0.2667 7.09 0.2816 0.2569 0.2660 9.61 -3.44 U.S. dollar - Mexican peso 16.9596 19.5720 -13.35 17.7913 20.1249 20.2900 -11.60 -0.81 U.S. dollar - Euro 0.9046 0.9416 -3.93 0.9246 0.9510 0.8458 -2.77 12.44 |
Segment information
Segment information | 12 Months Ended |
Dec. 31, 2023 | |
Segment Information | |
Segment information | 32 Segment information The Company’s organizational structure is formed by the following segments: - Brazil: - United States and Europe: - Mexico: - Other segments: (a) Presentation, measurement and reconciliation of segment results Information by segment is generated in accounting records, which are reflected in the financial statements. The operating segments are stated based on the results of operations. The eliminations and reclassifications line are mainly represented by purchases and sales between the Company’s reportable segments. Corporate Unit comprises items not allocated directly to the reportable segments and are disclosed to reconcile the segments to the financial information. (b) Results by segment Schedule of results by segment 2023 Operating expenses Net Cost of Selling, general Results from Other operating Profit (loss) sales products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 49,512 (48,159) 1,353 (1,781) (1,443) (1,871) USA and Europe 17,507 (16,127) 1,380 (802) 309 887 Mexico 4,449 (4,366) 83 (615) 195 (337) Total 71,468 (68,652) 2,816 (3,198) (939) (1,321) Other 782 (501) 281 137 7 8 433 Corporate unit (2,033) 458 (1,575) Braskem consolidated before 72,250 (69,153) 3,097 (5,094) 7 (473) (2,463) Eliminations and reclassifications (1,681) 1,605 (76) 240 (493) (329) Total 70,569 (67,548) 3,021 (4,854) 7 (966) (2,792) 2022 Operating expenses Net Cost of Selling, general Results from Other operating Profit (loss) sales products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 69,080 (63,196) 5,884 (1,853) (1,889) 2,142 USA and Europe 23,421 (19,986) 3,435 (838) 57 2,653 Mexico 5,834 (5,070) 764 (452) (33) 280 Total 98,335 (88,252) 10,083 (3,143) (1,865) 5,075 Other 403 (262) 140 83 35 5 263 Corporate unit (2,197) 19 (2,177) Braskem consolidated before 98,738 (88,514) 10,223 (5,257) 35 (1,841) 3,161 Eliminations and reclassifications (2,219) 3,353 1,135 (27) 4 1,111 Total 96,519 (85,161) 11,358 (5,284) 35 (1,837) 4,272 2021 Operating expenses Net Cost of Selling, general Results from Other operating Profit (loss) sales products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 69,495 (49,310) 20,185 (1,608) (2,211) 16,367 USA and Europe 32,404 (23,343) 9,060 (901) (26) 8,134 Mexico 6,506 (3,414) 3,093 (472) (15) 2,606 Total 108,405 (76,066) 32,338 (2,981) (2,251) 27,106 Other 364 (233) 131 77 5 (29) 183 Corporate unit (1,963) 1,162 (802) Braskem consolidated before 108,769 (76,299) 32,469 (4,867) 5 (1,119) 26,488 Eliminations and reclassifications (3,143) 2,731 (412) (16) (16) (444) Total 105,625 (73,568) 32,057 (4,883) 5 (1,135) 26,044 (c) Assets by segment Schedule of assets by segment 2023 Investments Property, plant and equipment Intangible assets Right of use of assets Other receivables (i) Reporting segments Brazil 108 17,279 2,658 2,175 1,651 USA and Europe 57 6,359 131 1,234 141 Mexico 14,357 304 409 297 Unallocated amounts 410 15 2 60 Total 165 38,405 3,108 3,820 2,149 2022 Investments Property, plant and equipment Intangible assets Right of use of assets Other receivables (i) Reporting segments Brazil 86 16,868 2,561 2,225 1,755 USA and Europe 63 7,114 159 1,324 118 Mexico 13,443 292 403 290 Unallocated amounts 338 10 1 111 Total 149 37,763 3,022 3,953 2,274 (i) Refers to the non-current items of recoverable taxes, income taxes, judicial deposits and other assets. |
Contractual obligations
Contractual obligations | 12 Months Ended |
Dec. 31, 2023 | |
Contractual Obligations | |
Contractual obligations | 33 Contractual obligations The Company has long-term commitments for the purchase of energy and circular feedstock. As of December 31, 2023, these commitments amounted to R$ 8,616 8,287 |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Subsequent events | 34 Subsequent events a) As disclosed in Note 24.1 (viii), on February 7, 2024, the Agreement between Braskem, the Federation of Fishermen of the State of Alagoas, the National Confederation of Fishermen and Aquaculturists, and the Federal Public Defender’s Office was approved for the payment of indemnification to fishermen and shellfish collectors temporary affected by restricted traffic of vessels in Mundaú Lagoon, in the perimeter determined by the Port Authority of Alagoas, for safety reasons. The agreement envisages the payment by Braskem the equivalent of three minimum wages to up to 1,870 professionals who are registered in the Ministry of Fishing and Agriculture and can provide evidence of their work in the region. The amount has been included in the provision for the year ended December 31, 2023. The approval led to dismissal of said ACP with substantive examination. b) In March 2024, as disclosed in Note 24.1 (iv), Alagoas State Public Defender’s Office filed a Public-interest civil action against the Company, seeking, among other claims, to challenge clause 69 of the Agreement for Socio-environmental Reparation (payment of R$ 150 for collective moral damages) alleging that there were facts after the date of the agreement that would give rise to additional damages. DPE attributes to the lawsuit the amount of R$150, and based on such allegation, it requests, as a preliminary measure: (i) the suspension of clause 58, second paragraph, of the Agreement for Socio-environmental Reparation, in order to rule out the possibility of reversion of the area to the benefit of Braskem; and (ii) the imposition of inalienability to the PCF area until the final and unappealable decision on the merits of the claim, considering the need for the assets acquired by the Financial Compensation Program not to be subject to any disposal, nor subject to seizure. c) On February 7, 2024, the Attorney General of the State of São Paulo (“PGE”) published the Resolution 6/24 regulating the “Paulista Agreement”, program created with the enacted of Law 17,843 which allows the regularization of ICMS debts with discounts on interest, fines and attorney fees. On March 17, 2024, PGE accepted the Company's request to include two legal proceedings in this program, reducing the amount to be paid from R$ 346 to R$ 66 and authorizing its payment in 120 monthly installments, from April 2024 to March 2034. On December 31, 2023, the related provisions with respect to these claims was R$ 346. d) In March 2024, the Company met the criteria to classify its investment in the subsidiary Cetrel as a non-current asset held for sale. Cetrel provides environmental solutions in water, effluents and reuse, incineration of hazardous industrial waste, management and remediation of contaminated areas, environmental monitoring, and environmental data management. Management is evaluating to sell part of its shares in Cetrel, aiming to enhance its potential growth as long the operational safety conditions of the Petrochemical Complex in Camaçari - Bahia are maintained. The carrying amount of Cetrel in December 2023 is R$383. |
Basis of preparation of the c_2
Basis of preparation of the consolidated financial statements (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Basis Of Preparation Of Consolidated Financial Statements | |
Basis of accounting | 2.1 Basis of accounting The consolidated financial statements (“financial statements”) were prepared and are presented in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). |
Basis of presentation | 2.2 Basis of presentation The financial statements were prepared under the historical cost basis, unless stated otherwise in the accounting policies. These financial statements have been prepared on a going concern basis. The material accounting policies applied in the preparation of these financial statements were included in the respective notes and are consistent in the fiscal years presented. The issue of these financial statements was authorized by the Executive Board, on April 11, 2024 . |
Basis of consolidation | 2.3 Basis of consolidation The financial statements include the financial statements of Braskem S.A. and the following entities: Schedule of financial statements Total and voting interest (%) 2023, 2022 and 2021 Headquarter 2023 2022 2021 BM Insurance Company Limited ("BM Insurance") Bermuda 100 100 100 Braskem Argentina S.A. (“Braskem Argentina”) Argentina 100 100 100 Braskem Energy Ltda. ("Braskem Energy") Brazil 100 Braskem Finance Limited (“Braskem Finance”) Cayman Islands 100 100 100 Braskem Green S.A. ("Braskem Green") Brazil 100 100 100 Braskem Incorporated Limited ("Braskem Inc.") (i) Cayman Islands 100 Braskem Mexico, S. de RL de C.V. ("Braskem México") Mexico 100 100 100 Braskem Netherlands B.V. ("Braskem Holanda") Netherlands 100 100 100 Braskem Petroquímica Chile Ltda. (“Braskem Chile”) Chile 100 100 100 Braskem Ventures Ltda. ("Braskem Ventures") (ii) Brazil 100 100 Lantana Trading Co. Inc. (“Lantana”) Bahamas 100 Voqen Energia Ltda. ("Voqen") Brazil 100 100 Wise Plásticos Ltda ("Wise") (iii) Brazil 61.1 B&TC B.V. ("B&TC") Netherlands 60 60 Braskem America Finance Company ("Braskem America Finance") USA 100 100 100 Braskem America, Inc. (“Braskem America”) USA 100 100 100 Braskem Europe GmbH ("Braskem Alemanha") Germany 100 100 100 Braskem Idesa Mexico 75 75 75 Braskem Idesa Servicios S.A. de C.V. ("Braskem Idesa Serviços") Mexico 75 75 75 Braskem India Private Limited ("Braskem India") India 100 100 100 Braskem Mexico Proyectos S.A. de C.V. SOFOM ("Braskem México Sofom") Mexico 100 100 100 Braskem Mexico Servicios S. RL de C.V. ("Braskem México Serviços") Mexico 100 100 100 Braskem Netherlands Finance B.V. (“Braskem Holanda Finance”) Netherlands 100 100 100 Braskem Netherlands Green B.V. (“Braskem Holanda Green”) Netherlands 100 100 100 Braskem Netherlands Inc. B.V. (“Braskem Holanda Inc.”) Netherlands 100 100 100 Braskem Siam (iv) Thailand 51 Braskem Trading & Shipping B.V. ("BTS") (V) Netherlands 100 Builder Brasil Ltda. ("Builder Brasil") Brazil 100 100 Builder USA LLC. ("Builder USA") USA 100 100 Cetrel S.A. ("Cetrel") Brazil 63.70 63.70 63.70 Distribuidora de Água Camaçari S.A. ("DAC") Brazil 63.70 63.70 63.70 ER Plastics B.V. ("ER Plastics") Netherlands 60 60 Terminal Química (vi) Mexico 37.5 75 75 Special Purpose Entities Fundo de Investimento Caixa Júpiter Multimercado Crédito Privado Brazil 100 100 100 Fundo de Investimento Santander Netuno Multimercado Crédito Privado Longo Prazo ("FIM Netuno") Brazil 100 100 100 (i) Company dissolved in December 2022. (ii) Braskem Ventures represents the brand Oxygea, which is a Hub whose purpose is to foster the creation and development of new business initiatives with startups. (iii) In February 2023, Braskem acquired a 61.1% ownership interest in Wise, a Brazilian company engaged in mechanical recycling . The consideration transferred of this acquisition was R$ 173, and goodwill generated was R$ 75. (iv) Company incorporated in 2023 as described in Note 1. (v) Company incorporated in September 2023 to provide service of maritime freight and the sale and purchase transactions of chemical and petrochemical products. (vi) In March 2023, Braskem Idesa sold 50% of their non-controlling interest in Terminal Química (Note 1) . (a) Subsidiaries The Company controls an entity when it is exposed to, or entitled to, the variable returns originating from its involvement with the entity and has the capacity to affect such returns by exercising its power over the entity. The financial information of subsidiaries are included in these financial statements as from the date the Company obtains control until the date of the loss of control. (b) Equity method Investees The Company’s investments in entities with accounting treatment using the equity method consist of their interests in associates and joint ventures. Associates are those in which the Company, directly or indirectly, has significant influence, but not control or shared control, over the financial and operating policies. To be classified as a joint venture, a contractual agreement must exist that gives the Company shared control of the entity and granting to the Company the right to the net assets of the joint venture, and not the right to its specific assets and liabilities. Such investments are initially recognized at cost, which includes the expenses with the transaction costs. After initial recognition, the financial statements include the Company’s interest in the net profit or loss for the fiscal year profit or loss and other comprehensive (loss) income (“OCI”) of equity-accounted investees, in the investee until the date on which the significant influence or joint control ceases to exist. (c) Conversion of functional currency to presentation currency The assets and liabilities of foreign operations are translated into Brazilian Real at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into Brazilian Real at the average monthly exchange rates. Foreign currency differences (Note 2.4) from translation to presentation currency are recognized in other comprehensive (loss) income. Since Argentina’s economy is considered hyperinflationary, to translate the financial information of Braskem Argentina subsidiary, the assets, liabilities, equity, income and expenses are translated into Brazilian Real at the exchange rate at the reporting date. (d) Transactions eliminated in consolidation Intragroup balances and transactions and any unrealized revenues or expenses arising from intragroup transactions are eliminated. Unrealized gains originating from transactions with investees recorded using the equity method are eliminated against the investment proportionately to the Company’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment loss. |
Functional and foreign currency | 2.4 Functional and foreign currency These financial statements are presented in Brazilian Real, which is the functional currency of the Company. All amounts have been rounded to the nearest million, unless otherwise stated. The subsidiaries with a functional currency different from Brazilian Real (R$) are listed below: Schedule of subsidiaries with a functional currency Functional currency Braskem Alemanha, B&TC e ER Plastics Euro BM Insurance, Braskem America, Braskem America Finance, Braskem Holanda, Braskem Holanda Finance, Braskem Holanda Inc., Braskem México Sofom, Braskem Holanda Green, BTS, Braskem Siam e Terminal Química. U.S.dollar ("US$") Braskem Idesa, Braskem Idesa Serviços, Braskem México e Braskem México Serviços Mexican peso Braskem Argentina Argentinean peso Braskem Chile Chilean peso Braskem Índia Rupee |
New standards or amendments for the current fiscal year and future requirements | 2.5 New standards or amendments for the current fiscal year and future requirements (a) New standards and pronouncements adopted in the current fiscal year In the current fiscal year, the Company identified a series of amendments under the IFRS standards that became effective for accounting periods starting on or after January 1, 2023: (a.1) Deferred taxes related to assets and liabilities arising from a single transaction (amendments to IAS 12) The Company adopted deferred tax related to assets and liabilities arising from a single transaction (amendments to IAS 12) from January 1, 2023. The amendments narrow the scope of initial recognition exemption to exclude transactions that give rise to equal and offsetting temporary differences. The main effect on the Company was related to the deferred taxes arising from leases. Previously, deferred tax on leases was recorded applying the "integrally linked" approach, resulting in a similar outcome as under the amendments, except for deferred tax asset or liability that was recognized on a net basis. Following the amendments, the Company recognized a separate deferred tax asset from its lease liabilities and a separate deferred tax liability from its right-of-use assets. However, there was no impact on statement of financial position since balances are qualified for offsetting. The amendments also had no impact on retained earnings and accumulated losses as of January 1, 2022. The main impact is related to the disclosure of recognized deferred tax assets and liabilities. (a.2) International Tax Reform - Pillar two model rules (Amendments to IAS 12) The Company is within the scope of the International Tax Reform – Pillar two model rules and operates in Netherlands and Germany, which have already passed the new legislation to implement the complementary global minimum tax rate. However, once the tax legislation recently passed in both countries will become effective only from January 1, 2024, there is no In accordance with amendments to IAS 12 in effect on December 31, 2023, the Company applied mandatory temporary exemption to the recognition of deferred taxes for the impacts of the complementary tax rate and assessed the new disclosures required about Pillar Two exposures. The Company may be subject to top-up tax in relation to its operations in the Netherlands, starting on January 1, 2024, depending on the profit of each type of business, there is a possibility that the effective rate in the Netherlands may vary by less or even more than 15 (a.3) Other amendments Other amendments to IFRS that were mandatory for accounting periods starting on or after January 1, 2023 but did not have any material impact on the disclosures or amounts presented in these financial statements - Definition of accounting estimates (amendments to IAS 8). - Definition of materiality for disclosure of accounting policies (amendments to IAS1 and IFRS Practice Statement 2). - Insurance contracts (IFRS 17). (b) Future requirements The amended standards already issued but not yet effective as of the reporting date are described below: - Classification of liabilities as current or non-current (amendments to IAS 1) – Effective on January 1, 2024. - Non-current liabilities with covenants (amendments to IAS 1) – Effective on January 1, 2024. - Lease liabilities in a sale and leaseback (Amendments to IFRS 16) – Effective on January 1, 2024. - Supplier finance arrangements (amendments to IFRS 7 and IAS 7) – Effective on January 1, 2024. Lack of exchangeability (amendments to IAS 21) – Effective on January 1, 2025. The Company plans to adopt these amended standards, when they become effective and are required. Management does not expect the adoption of the standards listed above to have a significant impact on the Company’s financial statements in future periods. |
Basis of preparation of the c_3
Basis of preparation of the consolidated financial statements (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Basis Of Preparation Of Consolidated Financial Statements | |
Schedule of financial statements | Schedule of financial statements Total and voting interest (%) 2023, 2022 and 2021 Headquarter 2023 2022 2021 BM Insurance Company Limited ("BM Insurance") Bermuda 100 100 100 Braskem Argentina S.A. (“Braskem Argentina”) Argentina 100 100 100 Braskem Energy Ltda. ("Braskem Energy") Brazil 100 Braskem Finance Limited (“Braskem Finance”) Cayman Islands 100 100 100 Braskem Green S.A. ("Braskem Green") Brazil 100 100 100 Braskem Incorporated Limited ("Braskem Inc.") (i) Cayman Islands 100 Braskem Mexico, S. de RL de C.V. ("Braskem México") Mexico 100 100 100 Braskem Netherlands B.V. ("Braskem Holanda") Netherlands 100 100 100 Braskem Petroquímica Chile Ltda. (“Braskem Chile”) Chile 100 100 100 Braskem Ventures Ltda. ("Braskem Ventures") (ii) Brazil 100 100 Lantana Trading Co. Inc. (“Lantana”) Bahamas 100 Voqen Energia Ltda. ("Voqen") Brazil 100 100 Wise Plásticos Ltda ("Wise") (iii) Brazil 61.1 B&TC B.V. ("B&TC") Netherlands 60 60 Braskem America Finance Company ("Braskem America Finance") USA 100 100 100 Braskem America, Inc. (“Braskem America”) USA 100 100 100 Braskem Europe GmbH ("Braskem Alemanha") Germany 100 100 100 Braskem Idesa Mexico 75 75 75 Braskem Idesa Servicios S.A. de C.V. ("Braskem Idesa Serviços") Mexico 75 75 75 Braskem India Private Limited ("Braskem India") India 100 100 100 Braskem Mexico Proyectos S.A. de C.V. SOFOM ("Braskem México Sofom") Mexico 100 100 100 Braskem Mexico Servicios S. RL de C.V. ("Braskem México Serviços") Mexico 100 100 100 Braskem Netherlands Finance B.V. (“Braskem Holanda Finance”) Netherlands 100 100 100 Braskem Netherlands Green B.V. (“Braskem Holanda Green”) Netherlands 100 100 100 Braskem Netherlands Inc. B.V. (“Braskem Holanda Inc.”) Netherlands 100 100 100 Braskem Siam (iv) Thailand 51 Braskem Trading & Shipping B.V. ("BTS") (V) Netherlands 100 Builder Brasil Ltda. ("Builder Brasil") Brazil 100 100 Builder USA LLC. ("Builder USA") USA 100 100 Cetrel S.A. ("Cetrel") Brazil 63.70 63.70 63.70 Distribuidora de Água Camaçari S.A. ("DAC") Brazil 63.70 63.70 63.70 ER Plastics B.V. ("ER Plastics") Netherlands 60 60 Terminal Química (vi) Mexico 37.5 75 75 Special Purpose Entities Fundo de Investimento Caixa Júpiter Multimercado Crédito Privado Brazil 100 100 100 Fundo de Investimento Santander Netuno Multimercado Crédito Privado Longo Prazo ("FIM Netuno") Brazil 100 100 100 (i) Company dissolved in December 2022. (ii) Braskem Ventures represents the brand Oxygea, which is a Hub whose purpose is to foster the creation and development of new business initiatives with startups. (iii) In February 2023, Braskem acquired a 61.1% ownership interest in Wise, a Brazilian company engaged in mechanical recycling . The consideration transferred of this acquisition was R$ 173, and goodwill generated was R$ 75. (iv) Company incorporated in 2023 as described in Note 1. (v) Company incorporated in September 2023 to provide service of maritime freight and the sale and purchase transactions of chemical and petrochemical products. (vi) In March 2023, Braskem Idesa sold 50% of their non-controlling interest in Terminal Química (Note 1) . |
Schedule of subsidiaries with a functional currency | Schedule of subsidiaries with a functional currency Functional currency Braskem Alemanha, B&TC e ER Plastics Euro BM Insurance, Braskem America, Braskem America Finance, Braskem Holanda, Braskem Holanda Finance, Braskem Holanda Inc., Braskem México Sofom, Braskem Holanda Green, BTS, Braskem Siam e Terminal Química. U.S.dollar ("US$") Braskem Idesa, Braskem Idesa Serviços, Braskem México e Braskem México Serviços Mexican peso Braskem Argentina Argentinean peso Braskem Chile Chilean peso Braskem Índia Rupee |
Risk management (Tables)
Risk management (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of financial liabilities by maturity | Schedule of financial liabilities by maturity Until Between one Between two More than one year and two years and five years five years Total Trade payables 13,522 13,522 Borrowings and debentures 2,138 3,000 11,197 64,359 80,694 Braskem Idesa borrowings 950 71 979 15,403 17,402 Derivatives 60 27 105 29 222 Loan from non-controlling shareholder of Braskem Idesa 3,288 3,288 Leniency agreement 847 206 1,053 Lease 1,347 932 1,817 1,282 5,377 At December 31, 2023 18,864 4,236 14,098 84,361 121,558 Interest discounted to present value (1,000) (2,773) (1,956) (41,484) (47,213) Carrying amount 17,864 1,463 12,141 42,877 74,345 |
Schedule of capital structure | Schedule of capital structure Capital structure 2023 2022 Equity attributable to the Company's shareholders 3,992 5.9 7,322 11.3 Third-party capital 64,038 94.1 57,445 88.7 Total 68,030 100 64,767 100 |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of cash and cash equivalents | Schedule of cash and cash equivalents 2023 2022 Cash Domestic market 1,555 517 Foreign market (i) 3,784 5,557 Cash equivalents Domestic market 7,186 3,685 Foreign market (i) 1,662 2,707 Total 14,187 12,466 (i) On December 31, 2023, includes the amount of R$ 1,284 of cash and R$ 278 of cash equivalents (2022: R$ 932 of cash and R$ 1,252 of cash equivalents) of Braskem Idesa and its subsidiaries, which cannot be used by the other subsidiaries of the Company. |
Financial investments (Tables)
Financial investments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of financial investment | Schedule of financial investment 2023 2022 Fair value through profit or loss LFT´s and LF´s (i) 4,680 1,789 Restricted funds investments (ii) 164 305 Other 130 218 Total 4,974 2,312 Current assets 4,956 2,295 Non-current assets (iii) 18 17 Total 4,974 2,312 (i) These refer to Brazilian floating-rate government bonds (“LFTs”) issued by the Brazilian federal government and floating-rate bonds (“LFs”) issued by financial institutions, whose purpose is the immediate negotiation or future sale. (ii) Includes the following amounts: R$ 115 (2022: R$ 175) in restricted funds used in the Program for Relocation of Residents in Alagoas (Note 24.1(i)); and R$ 49 (2022: R$ 130) that its use depends on complying with the contractual obligations of the debentures and borrowings. See Note 15(e). (iii) On the statement of financial position, the balance of non-current assets is presented under Other receivables. |
Trade accounts receivable (Tabl
Trade accounts receivable (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of trade accounts receivable | Schedule of trade accounts receivable Note 2023 2022 Customers Domestic market Third parties 1,273 1,533 Related parties 9 14 14 1,287 1,547 Foreign market Third parties 1,808 1,797 1,808 1,797 Expected credit losses (i) (185) (112) Total 2,910 3,232 Current assets 2,910 3,232 Non-current assets (i) Total 2,910 3,232 (i) The Company recognizes provision for credit losses (“ECL”) for trade accounts receivable based on the criteria and assumptions presented below, by applying a matrix of ECL measurement, using information that reflect current and future conditions, to the extent such data are available. |
Schedule of trade accounts receivable by maturity | Schedule of trade accounts receivable by maturity 2023 2022 Trade accounts receivable Expected credit losses Total Trade accounts receivable Expected credit losses Total Accounts receivables not past due 2,355 (128) 2,227 2,688 (35) 2,653 Past due securities: Up to 90 days 609 (4) 605 536 (7) 530 Between 91 to 180 days 85 (7) 78 25 (3) 22 Above 180 days 46 (46) 95 (67) 28 Total 3,095 (185) 2,910 3,344 (112) 3,232 |
Schedule of changes in allowance for doubtful accounts | Schedule of changes in allowance for doubtful accounts 2023 2022 2021 Balance at the beginning of the year (112) (132) (173) Additions (195) (87) (145) Reversals 112 71 150 Write-off of receivables 14 36 37 Additions by business combination (4) Balance at the end of the year (185) (112) (132) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Inventories Abstract | |
Schedule of inventory | Schedule of inventory 2023 2022 Finished goods 7,164 8,558 Semi-finished goods 505 663 Raw materials, production inputs and packaging 2,480 2,748 Maintenance materials 934 870 Advances to suppliers 157 124 Imports in transit 1,292 1,067 Total 12,532 14,030 |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of related party transactions | Schedule of related party transactions Balances at December 31, 2023 Balances at December 31, 2022 Statement of financial position Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Assets Current Trade accounts receivable 8 6 14 12 2 14 Inventories(advance to suppliers) 56 56 61 61 Dividends and interest on capital 3 3 4 4 Other receivables - Related parties 11 11 Non-current Other receivables - Related parties 26 30 56 6 6 Total assets 90 39 129 11 79 6 96 Liabilities Current Trade payables 33 1,057 13 1,103 126 138 14 278 Other payables 255 255 233 233 Non-current Trade payables 3 3 Loan from non-controlling shareholders of Braskem Idesa 2,490 2,490 2,498 2,498 Total liabilities 33 1,312 2,503 3,848 129 371 2,512 3,012 Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Transactions Sale of products 123 337 460 182 438 620 172 541 713 Purchases of raw materials, finished goods services and utilities (254) (16,185) (155) (16,595) (334) (22,900) (25) (23,259) (306) (19,833) (7) (20,146) Financial income 434 434 190 190 Financial expenses (141) (141) (1) (34) (149) (184) (0) (12) (246) (258) General and administrative expenses (64) (64) (45) (45) (67) (67) Other income (expenses) (11) 27 1 17 51 51 (217) (217) |
Schedule of key management personnel compensation | Schedule of key management personnel compensation Statement of profit or loss transactions 2023 2022 2021 Remuneration Short-term benefits 63 83 120 Post-employment benefit 1 2 2 Long term incentive plan 10 17 14 Total 74 102 136 |
Taxes recoverable (Tables)
Taxes recoverable (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Taxes Recoverable | |
Schedule of taxes recoverable | Schedule of taxes recoverable 2023 2022 Parent Company and subsidiaries in Brazil Value-added tax on sales and services (ICMS) 604 410 ICMS - credits from PP&E 391 303 Social integration program (PIS) and social contribution on revenue (Cofins) (i) 353 560 PIS and Cofins - credits from PP&E 461 546 Other 81 243 Foreign subsidiaries Value-added tax ("IVA") 832 580 Other 109 132 Total 2,831 2,774 Current assets 1,461 1,156 Non-current assets 1,370 1,618 Total 2,831 2,774 (i) In August 2023, through Decree 11,668/2023, the Federal Government regulated the necessary conditions for the use of the Special Regime for the Chemical Industry (REIQ), applicable since January 1, 2023, as established in Federal Law 14,374/2022. For the year ended December 31, 2023, the Company, fully achieved all the conditions of said decree recognizing in net revenue the gain of R$ 297 of such tax credit. |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Investments Abstract | |
Schedule of Information on investments | Schedule of Information on investments Net profit (loss) for the year Equity Note 2023 2022 2021 2023 2022 Jointly-controlled investment Refinaria de Petróleo Riograndense S.A. (i) 21 76 127 110 Bioglycols LLC (ii) (16) (4) 81 81 Associate Borealis Brasil S.A. (iii) 70 54 45 288 252 (i) RPR's main activities are the refining, processing and sale and import of oil, its byproducts and correlated products. The percentage of Braskem's equity interest in the capital of RPR on December 31, 2023 is 33.20% (2022: 33.20%). (ii) Bioglycols was incorporated in March 2022. Its main activities are the production and marketing of monoethylene glycol (MEG) and monopropylene glycol (MPG). (iii) Borealis’ main activities are the production and commercialization of petrochemical byproducts and correlated products. The percentage of Braskem’s ownership interest in the capital of Borealis on December 31, 2023 is 20% (2022: 20%). |
Schedule of changes in investments | Schedule of changes in investments Borealis RPR Bioglycols LLC Other Total Balance at 2021 41 17 - 1 59 Dividends and interest on equity (5) (4) (9) Results from equity-acoounted investees 11 25 (1) 35 Other comprehensive income (1) (1) Capital increase 42 23 65 Balance at 2022 47 37 41 24 149 Dividends and interest on equity (7) (2) (9) Results from equity-acoounted investees 17 7 (1) (16) 7 Other comprehensive income 1 1 3 5 Other 13 13 Balance at 2023 57 43 41 24 165 |
Schedule of impact on the consolidation of brasken idesa | Schedule of impact on the consolidation of brasken idesa Braskem Idesa (i) Statements of financial position 2023 2022 Current assets 3,525 3,685 Non-current assets 16,477 16,108 Total assets 20,002 19,793 Current liabilities 2,138 2,427 Non-current liabilities 22,276 22,070 Total liabilities 24,414 24,497 Shareholders' equity (4,412) (4,704) Total liabilities and shareholders' equity 20,002 19,793 Braskem Idesa (i) Statement of profit or loss 2023 2022 2021 Net revenue 4,455 5,953 6,333 Loss for the year (1,361) (1,527) (231) Statement of cash flows Net cash (used in) generated from operating activities (863) 1,349 1,961 Net cash used in investing activities (791) (695) (172) Net cash generated from (used in) financing activities 927 (220) (1,004) Exchange variation on cash of foreign subsidiaries 105 (23) 84 (Decrease) increase in cash and cash equivalents (622) 411 869 (i) Braskem Idesa with its subsidiaries Braskem Idesa Servicios and Terminal Química. |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of estimated useful lives | Schedule of estimated useful lives 2023 2022 Buildings and improvements 3.09 3.03 Machinery, equipment and installations 7.87 7.32 Furniture and fixtures 10.08 10.06 IT equipment 21.62 21.03 Lab equipment 9.51 9.59 Security equipment 9.80 10.50 Vehicles 18.81 19.51 Other 16.36 18.09 |
Schedule of reconciliation of carrying amount | Schedule of reconciliation of carrying amount Land Buildings and Improvements Machinery, Equipment and Facilities Projects and Stoppage in Progress (i) Other Total Balance as of December 31, 2021 688 5,181 26,292 4,449 613 37,223 Acquisitions 2 297 4,644 8 4,951 Additions through acquisition of ER Plastics 21 56 77 Capitalized financial charges 203 203 Foreign currency translation adjustment (20) (122) (656) (39) (8) (845) Transfers by concluded projects 87 2,688 (2,915) 140 Disposals (112) (34) (3) (149) Depreciation (203) (3,347) (147) (3,697) Net book value 668 4,966 25,218 6,308 603 37,763 Cost 668 8,528 58,708 6,308 2,317 76,529 Accumulated depreciation (3,562) (33,490) (1,714) (38,766) Balance as of December 31, 2022 668 4,966 25,218 6,308 603 37,763 Acquisitions 14 312 3,780 8 4,114 Additions through acquisition of Wise 9 34 1 3 47 Capitalized financial charges 298 298 Foreign currency translation adjustment (7) 255 189 23 (5) 455 Transfers by concluded projects 2 188 3,100 (3,713) 424 Disposals (60) (3) (180) (147) (6) (397) Depreciation (219) (3,469) (187) (3,875) Net book value 603 5,210 25,204 6,550 840 38,405 Cost 603 9,120 61,307 6,550 2,717 80,295 Accumulated depreciation (3,910) (36,103) (1,877) (41,890) Balance as of December 31, 2023 603 5,210 25,204 6,550 840 38,405 (i) As of December 31, 2023, the main amounts recorded under this item corresponded to expenditures with scheduled maintenance shutdowns at plants in the amount of R$ 2,633 (2022: R$ 2,343), capitalized financial charges in the amount of R$ 345 (2022: R$ 365), inventories of spare parts in the amount of R$ 631 (2022: R$ 567), strategic projects ongoing in Brazil in the amount of R$ 395 (2022: R$ 714) and in Braskem America in the amount of R$ 117 (2022: R$ 126). The remainder amount of R$ 2,429 (2022: R$ 2,193) corresponds mainly to projects for maintaining the production capacity of plants. |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Intangible Assets | |
Schedule of changes in intangible assets | Schedule of changes in intangible assets Customers Brands Software and suppliers Nota Goodwill and patents licenses agreements Total Net book value 2,059 314 369 136 2,878 Cost 2,059 549 1,124 393 4,125 Accumulated amortization (235) (755) (257) (1,247) Balance as of December 31, 2021 2,059 314 369 136 2,878 Acquisitions 1 159 1 161 Additions and goodwill from business combination of ER Plastics 28 21 67 116 Foreign currency translation adjustment (5) (5) (10) Other write-offs (10) (10) Amortization (11) (80) (22) (113) Net book value 2,087 320 433 182 3,022 Cost 3,216 566 1,268 461 5,511 Accumulated amortization (1,129) (246) (835) (279) (2,489) Balance as of December 31, 2022 2,087 320 433 182 3,022 Acquisitions 115 115 Additions from business combination of Wise 75 75 Foreign currency translation adjustment 11 15 4 (22) 8 Amortization (12) (83) (17) (111) Net book value 2,173 323 468 143 3,108 Cost 3,302 581 1,386 439 5,708 Accumulated amortization (1,129) (258) (918) (296) (2,600) Balance as of December 31, 2023 2,173 323 468 143 3,108 |
Schedule of company goodwill | Schedule of company goodwill Cash-generating unit goodwill Petrochemical complex Northeast 668 Petrochemical complex South 1,391 ER Plastics 39 Wise Plásticos 75 Total 2,173 |
Schedule of goodwill impairment testing | Schedule of goodwill impairment testing Carrying Recoverable amount (i) amount Petrochemical complex Northeast 5,373 12,552 Petrochemical complex South 6,526 30,815 (i) Includes the goodwill and other items attributed directly to the CGU . |
Schedule of key assumptions used by management | Schedule of key assumptions used by management Key assumption Petrochemical complex Northeast Petrochemical complex South Sales volume (average % of annual growth) 1.62% 1.80% Investment in maintenance (growth %) 6.15% 8.35% Average FX rate in USD 5.19 5.19 Average inflation rates % 3.34% 3.34% Perpetuity growth (%) 3.10% 3.10% Pre-tax WACC discount rate 14.62% 15.47% Post-tax WACC discount rate 11.77% 11,77% |
Schedule of amortization estimated useful life | Schedule of amortization estimated useful life - Brands and patents 10 20 - Software licenses and rights of use 01 10 - Customers and suppliers’ agreements 14 28 |
Right-of-use assets and lease_2
Right-of-use assets and lease liability (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Right-of-use Assets And Lease Liability | |
Schedule of changes in right-of-use assets | Schedule of changes in right-of-use assets Balance as of Foreign currency Balance as of 12/31/2021 Acquisitions Amortization Disposal translation adjustment 31/12/2022 Rail cars 986 73 (173) (5) (54) 827 Machinery and equipment 793 1,147 (330) (6) (1) 1,603 Vessels 697 811 (386) (2) 1,120 Buildings and constructions 265 102 (75) 292 Vehicles 29 103 (26) 106 Computer equipment and goods 9 (4) 5 Total 2,779 2,236 (994) (11) (57) 3,953 Balance as of Foreign currency Balance as of 31/12/2022 Acquisitions Amortization Disposal (i) translation adjustment 31/12/2023 Rail cars 827 237 (173) (32) (38) 821 Machinery and equipment 1,603 553 (564) 1,592 Vessels 1,120 276 (452) (5) (28) 911 Buildings and constructions 292 149 (95) (40) 306 Vehicles 106 143 (54) (9) 186 Computer equipment and goods 5 3 (4) 4 Total 3,953 1,361 (1,342) (46) (106) 3,820 (i) The amount of disposal in 2023 mainly refers to sublease contracts of rail cars signed in the year, which was R$ 29 (refers note 14(e)). |
Schedule of changes in lease liabilities | Schedule of changes in lease liabilities 2023 2022 Balance as of January 01 4,241 3,156 Acquired 1,283 2,232 Additions through merger of ER Plastics 4 Disposals (70) (13) Interests and monetary and exchange variations, net 45 84 Currancy translation adjustments (78) (72) Payments (1,209) (929) Interest paid (279) (221) Balance as of December 31 3,933 4,241 Current liability 978 1,040 Non-current liability 2,955 3,201 Total 3,933 4,241 |
Schedule of payment by maturity | Schedule of payment by maturity 2023 2022 2023 1,109 2024 1,347 856 2025 932 630 2026 807 554 2027 631 437 2028+ 1,660 1,398 5,378 4,983 Interest discounted to present value (1,445) (742) Carrying amount 3,933 4,241 |
Schedule of cash flows related to the contracts | Schedule of cash flows related to the contracts Discounted Not discounted 2023 2023 2024 15 17 2025 97 111 2026 114 139 2027 167 218 2028+ 1,236 2,399 Total 1,629 2,884 |
Trade payables (Tables)
Trade payables (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of trade account payables | Schedule of trade account payables Note 2023 2022 Domestic market Third parties 1,454 1,748 Third parties (forfait) (i) 671 683 Total Third parties 2,125 2,431 Related parties 256 197 Related parties (forfait) (i) 847 81 Total Related parties 9 1,103 278 Foreign market (ii) Third parties 9,993 9,541 13,221 12,250 Current liabilities 13,221 12,247 Non-current liabilities (iii) 3 Total 13,221 12,250 (i) The Company has payment agreements with financial institutions and forfaiting agreements that allow certain suppliers to opt for granting their receivables from the Company upon accepting of financial institutions by acquiring or not the related receivables, without the Company’s interference. The grant operation does not imply any change in the instruments issued by suppliers, with the same conditions of the original amount and the payment term maintained. (ii) Includes R$ 7,.3 billion(2022: R$ 5.8 billion) in raw material purchases due in up to 360 days for which the Company provides letters of credit issued by financial institutions that indicate the suppliers as beneficiaries. (iii) On the Statement of financial position, the balance of non-current liabilities is presented under Other payables. |
Borrowings and debentures (Tabl
Borrowings and debentures (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of borrowings and debentures | Schedule of borrowings and debentures Annual stated interest rate (%) Maturity 2023 2022 Foreign currency Bonds Note 16 31,980 26,124 Loans indexed to SOFR (i) 1.55 Jan/2024 to Feb/2031 5,604 5,313 Other 6.41 Apr/2024 to May/2029 58 82 Transactions costs (478) (454) 37,164 31,065 Local currency Debentures Note 16 3,910 3,926 Loans indexed to IPCA 6.01 Jan/2024 to Jan/2031 341 390 Loans indexed to CDI 1.48 Mar/2024 to Jul/2027 830 348 Other 7.04 Jan/2024 to Dec/2035 19 19 Transactions costs (28) (32) 5,072 4,651 Foreign currency and local currency Current liabilities 2,029 1,382 Non-current liabilities 40,207 34,334 Total 42,236 35,716 (i) Includes: (a) R$ 2,257 from credit facility contracted by Braskem Holanda Finance and Braskem Holanda, with insurance from SACE and NEXI, Italian and Japanese export credit agencies, respectively, and guarantee from Braskem; (b) R$ 586 from Credit facility contracted by Braskem America, secured by Euler Hermes, the German export credit agency; and (c) R$ 133 from Credit facility contracted by Braskem with a term of 7 years and guarantee of its own assets. |
Schedule of long-term borrowings | Schedule of long-term borrowings 2023 2022 2024 2,202 2025 579 628 2026 1,743 581 2027 2,208 2,357 2028 6,769 7,282 2029 2,850 2,888 2030 7,527 8,109 2031 4,328 220 2032 105 113 2033 4,837 2034 and thereafter 9,261 9,954 Total 40,207 34,334 |
Schedule of bonds | Schedule of bonds Interest Issue date Maturity (% per year) 2023 2022 Jul-2011 and Jul-2012 Jul-2041 7.13 2,825 3,045 Feb-2014 and May-2014 (i) Feb-2024 6.45 1,589 Oct-2017 Jan-2028 4.50 5,798 6,249 Nov-2019 Jan-2030 4.50 7,364 7,936 Nov-2019 Jan-2050 5.88 3,720 4,009 Jul-2020 (ii) Jan-2081 8.50 3,077 3,296 Feb-2023 Feb-2033 7.25 4,976 Sep-2023 Jan-2031 8.50 4,220 Total 31,980 26,124 (i) Prepayment made in February 2023. (ii) The bond can be repaid by the Company at par value, for periods of 90 days prior to each interest reset, with the first interest reset taking place in January 2026 and the others every 5 years thereafter. |
Schedule of debentures | Schedule of debentures Issue date Issuer Series Maturity Annual stated interest rate (%) 2023 2022 Mar-2013 (i) DAC Only Mar-2025 IPCA + 6.00 64 110 Sep-2013 (i) Cetrel Only Sep-2025 126.5% do CDI 22 35 Jan-2022 (ii) Braskem 1ª Dec-2028 IPCA + 5.54 644 616 Jan-2022 (ii) Braskem 2ª Dec-2031 IPCA + 5.57 154 147 May-2022 (iii) Braskem 1ª May-2029 CDI + 1.75 769 771 May-2022 (iii) Braskem 2ª May-2032 CDI + 2.00 248 249 Aug-2022 (iii) and (iv) Braskem Only Aug-2029 CDI + 1.75 787 787 Nov-2022 (iii) Braskem 1ª Nov-2029 CDI + 1.70 1,124 1,114 Nov-2022 (iii) Braskem 2ª Nov-2032 CDI + 1.95 98 97 3,910 3,926 (i) These debentures were secured by mandatory deposits as disclosed in Note 5. (ii) Private debentures issued by Braskem, used as guarantee for the issue of Agribusiness Receivables Certificate ("CRA") by Eco Securitizadora de Direitos Creditórios do Agronegócio S.A and were subject to the Extended National Consumer Price Index (“IPCA”). (iii) Unsecured debentures. (iv) In April 2024, these debentures were fully prepaid. |
Braskem Idesa borrowings (Table
Braskem Idesa borrowings (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Braskem Idesa Borrowings | |
Schedule of braskem idesa financing | Schedule of braskem idesa financing Identification Nota Maturity Currency and annual stated interest rate (%) 2023 2022 Bonds Bond I nov-2029 Us dollar exchange variation + 7.45 (a) 4,383 4,690 Bond II (i) feb-2032 Us dollar exchange variation + 6.99 (a) 5,936 6,353 10,319 11,043 Others (ii) oct-2023 and nov-2023 Us dollar exchange variation + quarterly Term SOFR + 4.25 (b) 625 735 1 oct-2023 and nov-2023 Us dollar exchange variation + semianual Term SOFR + 2.94 (c) 766 1,391 735 Transactions costs (460) (460) Total 11,250 11,318 Current liabilities 739 868 Non-current liabilities 10,511 10,502 Total 11,250 11,370 (a) Braskem Idesa pledged as collateral property, plant and equipment assets in the same value as the bond . (b) Braskem Idesa pledged as collateral property, plant and equipment assets and other rights (c) Terminal Química pledged as collateral property, plant and equipment assets and Braskem has fully, unconditionally and irrevocably, guaranteed the financing. (i) Sustainability-linked bonds. The bonds due in 10 years have an interest rate of 6.99% p.a., which may be increased by up to 0.37% p.a. if certain conditions are not met. (ii) On June 29, 2023 Braskem Idesa obtained an extension of the waiver related to a leverage ratio (covenant) until March 31, 2024. In this sense, even though Braskem Idesa is not in default and creditors did not request to accelerate this debt, because the waiver did not provide a period of grace ending at least twelve months after the reporting period, the entire balance, in the amount of R$ 502 was classified in current liabilities on December 31, 2023 (2022: R$ 650). On March 28, 2024 Braskem Idesa obtained a new extension of the waiver related to the covenant until March 30, 2025. |
Schedule of financing with maturities | Schedule of financing with maturities 2023 2022 2028 466 2029 4,290 4,338 2032 5,755 6,164 Total 10,511 10,502 |
Reconciliation of financing a_2
Reconciliation of financing activities in the statement of cash flow (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of reconciliation of borrowing activities in the statement of cash flow | Schedule of reconciliation of borrowing activities in the statement of cash flow Loan from non-controlling Borrowings Braskem Idesa shareholders and debentures financing of Braskem Idesa Lease Dividends Balances at December 31, 2022 35,716 11,370 2,498 4,241 11 Issued 10,991 1,233 Payments (2,155) (576) (1,209) (7) Cash used in financing activities 8,836 657 (1,209) (7) Other changes Interest paid (2,450) (821) (279) Interest and monetary and exchange variations, net 2,359 (739) (171) 45 Lease contracts 1,283 Disposals (70) Addition by subsidiary acquisition 28 Currency translation adjustments (2,253) 783 158 (78) Fair value adjustments of non-controlling subsidiaries 5 Additional dividends approved in the board meeting 6 (2,316) (777) (8) 901 6 Balances at December 31, 2023 42,236 11,250 2,490 3,933 10 Current 2,029 739 978 10 Non Current 40,207 10,511 2,490 2,955 Total 42,236 11,250 2,490 3,933 10 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of non-derivative financial instruments and other liabilities | Schedule of non-derivative financial instruments and other liabilities Fair value Book value Fair value Note Classification by category hierarchy 2023 2022 2023 2022 Cash and cash equivalents 5 Cash and banks Amortized cost 5,339 6,074 5,339 6,074 Financial investments in Brazil FVTPL Level 2 8,848 6,392 8,848 6,392 14,187 12,466 14,187 12,466 Financial investments 6 LFT´s and LF´s FVTPL Level 2 4,680 1,789 4,680 1,789 Other FVTPL Level 2 294 523 294 523 4,974 2,312 4,974 2,312 Trade accounts receivable 7 Amortized cost 2,910 3,199 2,910 3,199 Trade accounts receivable 7 FVOCI Level 2 - 33 - 33 Trade payables 15 Amortized cost 13,221 12,250 13,221 12,250 Borrowings 16 Amortized cost Foreign currency - Bond Level 1 31,980 26,124 26,004 23,166 Foreign currency - other borrowings Level 2 5,662 5,395 5,434 5,329 Local currency Level 2 1,190 757 1,542 1,259 Debentures Level 2 3,910 3,926 3,314 3,868 42,743 36,202 36,294 33,622 Braskem Idesa borrowings 17 Amortized cost Bond Level 1 10,319 11,043 6,153 8,302 Others Level 2 1,391 735 1,243 797 11,710 11,778 7,396 9,099 Loan ton non-controlling shareholder of Braskem Idesa 9(a) Amortized cost 2,490 2,498 2,555 2,290 Leniency agreement 22(a) Amortized cost 1,016 903 1,016 903 |
Schedule of changes in derivative financial instruments | Schedule of changes in derivative financial instruments Operation characteristics (Asset)/ (Asset)/ Principal exposure Liability Change in Financial Liability Identification Derivatives 2022 fair value settlement 2023 Non-hedge accounting transactions Braskem Holanda - Swap Nafta/Gasolina Gasoline Naphtha (16) 67 (54) (3) Braskem Holanda - Swap Nafta/Gasolina Braskem Argentina - Exchange swap (16) 67 (54) (3) Hedge accounting transactions Braskem S.A. - Dollar call and put options Real Dollar (65) 11 17 (37) Braskem S.A. - Dollar swap CDI Real Dollar+Fixed rates 152 (91) (97) (36) Braskem S.A. - Swap CRA Real Dollar+Fixed rates (24) (122) 18 (128) 63 (202) (62) (201) Derivatives Assets Current assets 158 137 Non-current assets 72 210 Total 230 347 Liabilities Current liabilities 195 58 Non-current liabilities 82 141 Total 277 199 Balance - Liabilities (-) assets 47 (148) |
Schedule of fair value adjustment | Schedule of fair value adjustment Identification Total nominal Hedge Maturity Fair value, net value R$ (interest rate per year) 2023 2022 Swaps CRA 600 3.5388 dec-2028 98 13 Swaps CRA 141 3.3742 dec-2031 30 10 Total 742 128 23 |
Schedule of non-derivative financial liabilities designated to hedge accounting | Schedule of non-derivative financial liabilities designated to hedge accounting Total nominal US$ milhões R$ 2024 175 847 2025 800 3,873 2028 1,250 6,052 2029 500 2,421 2030 800 3,873 2031 800 3,873 2032 600 2,905 2033 400 1,937 5,325 25,780 |
Schedule of financial instruments designated for hedge | Schedule of financial instruments designated for hedge US$ million Hedge Realized discontinued 2022 discontinued hedge Designations 2023 Designated balance 5,239 (314) 400 5,325 Brazilian Real Hedge Currency translation 2022 discontinued Designations adjustments 2023 Designated balance 27,336 (1,629) 2,044 (1,971) 25,780 |
Schedule of future hedged sales | Schedule of future hedged sales Conversion rate Total nominal at Inception Closing rate Gross nominal value US$ R$/US$ R$/US$ value - R$ Hedge discontinued - From first to fourth quarter 2024 514 2.0017 5.5466 1,821 Hedge discontinued - Fourth quarter 2032 200 4.0213 5.2177 239 714 2,060 |
Schedule of exchange variation - Braskem Idesa | Schedule of exchange variation - Braskem Idesa Conversion rate Total nominal at Inception Closing rate Gross nominal value US$ R$/US$ R$/US$ value - R$ First quarter 168 2.0017 3.9786 332 Second quarter 150 2.0017 3.9786 297 Third quarter 200 2.0017 3.9786 395 Fourth quarter 200 2.0017 5.1433 629 718 1,653 |
Schedule of changes in foreign exchange variation and income tax and social contribution | Schedule of changes in foreign exchange variation and income tax and social contribution Exchange Net variation Income taxes effect Balances at December 31, 2022 (9,981) 3,394 (6,587) Exchange variation recorded in the year / Income taxes 1,921 (653) 1,268 Exchange variation transferred to profit or loss / Income taxes 1,653 (562) 1,091 Balances at December 31, 2023 (6,407) 2,179 (4,228) |
Schedule of designated and unrealized sales | Schedule of designated and unrealized sales Total nominal US$ milhões R$ 2024 22 107 2025 23 111 2026 308 1,491 2027 225 1,089 2028 525 2,542 2029 525 2,542 2030 300 1,452 2031 300 1,452 2,228 10,786 |
Schedule of discontinuation | Schedule of discontinuation Conversion rate Total nominal at Inception Closing rate Total nominal Gross nominal Discontinuation in: value US$ MXN/US$ MXN/US$ value MXN value - R$ Hedge discontinued in May, 2016 9 13.4541 17.9915 41 12 Hedge discontinued in December, 2019 460 13.6667 19.6113 2,735 781 Hedge discontinued in December, 2019 17 13.4541 19.3247 100 29 Hedge discontinued in October ,2021 848 13.6621 20.3587 5,679 1,622 1,334 8,554 2,444 |
Schedule of exchange variation - Braskem Idesa | Schedule of exchange variation - Braskem Idesa Conversion rate Total nominal at Inception Closing rate Total nominal Gross nominal value US$ MXN/US$ MXN/US$ value MXN value - R$ First quarter 81 13.6512 20.1269 522 151 Second quarter 79 13.6521 20.1222 510 143 Third quarter 85 13.6533 20.1160 550 159 Fourth quarter 111 15.0103 19.9872 553 155 356 2,135 608 |
Schedule of changes in foreign exchange variation and income tax and social contribution - Braskem Idesa | Schedule of changes in foreign exchange variation and income tax and social contribution - Braskem Idesa Exchange Net variation Income taxes effect Balances at December 31, 2022 (1,108) 333 (775) Exchange variation recorded in the period / Income taxes 1,530 (459) 1,071 Exchange variation transferred to profit or loss / Income taxes 608 (182) 426 Balances at December 31, 2023 1,030 (308) 722 |
Schedule of trade accounts receivable by credit ratings | Schedule of trade accounts receivable by credit ratings (%) 2023 2022 1 Minimal Risk 65.62 72.15 2 Low Risk 19.33 21.65 3 Medium Risk 6.37 3.36 4 High Risk 8.28 2.56 5 Very High Risk (i) 0.40 0.28 (i) Clients in this group that are still active purchase from Company and pay in advance. |
Schedule of financial assets with and without risk assessment | Schedule of financial assets with and without risk assessment 2023 2022 No Brasil No Exterior Total No Brasil No Exterior Total Financial assets with risk classification AAA 11,438 2,493 13,931 5,130 2,421 7,551 AA+ 140 140 163 163 AA 130 130 290 108 398 AA- 249 249 149 149 A+ 1 3,072 3,073 3 4,460 4,463 A 32 506 538 93 1,358 1,451 A- 4 815 819 387 387 BBB 49 49 1 52 53 11,994 6,935 18,929 5,829 8,786 14,615 Financial assets without risk classification Other financial assets with no risk assessment (i) 149 83 232 82 81 163 149 83 232 82 81 163 Total 12,143 7,018 19,161 5,911 8,867 14,778 (i) Investments approved by the Management, in accordance with the Financial Policy. |
Schedule of changes in the value of the financial instruments | Schedule of changes in the value of the financial instruments Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity Note as December 31, 2023 (USDBRL 4,9) (USDBRL 5,45) (USDBRL 6,68) Brazilian real/U.S. dollar exchange rate Bonds (42,299) (513) (5,352) (16,055) Export prepayments (2,170) (26) (275) (824) Investments (1,577) (19) (199) (598) SACE 19(c.i) (1,156) (14) (146) (439) Dollar call and put options (i) 37 (16) (92) (453) Dollar swap x CDI (liability) (541) (8) (70) (207) MONFORTE 19(c.ii) (133) (2) (17) (50) Nexi 19(c.iii.iv) (84) (1) (11) (32) Other (1,392) (17) (176) (528) Financial investments abroad 5,489 67 694 2,083 Dollar swap x IPCA (liability) (678) 23 (33) (156) Export credit notes (484) (6) (61) (184) Trade accounts receivable 2,890 35 366 1,097 Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2023 (11,75%) (14,76%) (20,77%) CDI/Selic interest rate Debentures (3,048) (555) (1,900) Financial investments in local currency 12,108 327 982 Export credit notes (347) (35) (113) Note of rural product (CPR) (482) (33) (104) Dollar swap x CDI (asset) 577 Leniency agreement (577) (17) (53) Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2023 (4,46%) (5,26%) (6,3%) IPCA interest rate Debêntures (64) (1) BNDES (338) 5 (22) (68) Debêntures - CRA (798) 11 (44) (137) Dollar swap x IPCA (asset) 808 72 29 77 Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2023 (5,33%) (11,3%) (23,22%) Selic interest rate Export prepayments (2,170) 28 (223) (668) Export credit notes (484) 7 (59) (176) Nexi (84) 2 (17) (51) SACE (1,156) 24 (191) (574) MONFORTE (133) 1 (12) (36) Investments (1,577) 31 (248) (744) Other (1,392) 16 (132) (396) Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2023 (EURBRL 5,44) (EURBRL 6,01) (EURBRL 7,32) Brazilian real/EUR exchange rate Trade accounts receivable 472 8 58 173 (i) The Company is in the put options. |
Taxes payable (Tables)
Taxes payable (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Taxes Payable | |
Schedule of taxes payable | Schedule of taxes payable 2023 2022 Brazil IPI 66 74 ICMS 227 218 PIS and Cofins 29 20 Other 9 105 Other countries Value-added tax 119 150 Tax on financial income 143 222 Total 593 789 Current liabilities 387 491 Non-current liabilities 206 298 Total 593 789 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of income tax and social contribution reconciliation | Schedule of income tax and social contribution reconciliation 2023 2022 2021 (Loss) profit before income taxes (6,192) 47 17,961 Nominal income taxes computed based on Brazilian statutory corporate tax rates (34%) 2,105 (16) (6,107) Permanent adjustments to the Income taxes calculation basis Results from equity-accounted investees 2 12 2 Thin capitalization (i) (613) (360) (7) Tax benefits 145 137 Reduction of tax loss (892) Different jurisdictional taxes rates for companies abroad and tax basis (ii) 770 1,030 1,980 Taxes on dividends distribution (836) (455) (265) Exclusion of inflation adjustement by Selic on undue tax payments from taxable income 38 39 501 Other permanent adjustments (309) (226) (241) Effect of income taxes on results of operations 1,302 (868) (3,999) Breakdown of income taxes: Current income taxes Current year (191) (1,004) (3,834) Total current expenses (191) (1,004) (3,834) Deferred income taxes Origination and reversal of temporary differences 6 1,192 (246) Tax losses 1,487 (1,056) 81 Total deferred income taxes 1,493 136 (165) Total 1,302 (868) (3,999) Effective rate (iii) 21.0% 1846.8% 22.3% (i) Includes the amount from the adjustment of interest rates in financial operations with subsidiaries in accordance with sub-capitalization tax rules. (ii) Besides the differences on tax basis calculation, it includes the impact from the difference between Brazilian tax rate (34%) and the tax rates in countries where the subsidiaries abroad are located. (iii) The effects presented in the reconciliation of the effective rate, in relation to the profit before taxes as of December 31, 2022, resulted in an effective rate in 2022 as of 1847.8%, the main effect is described in Note 21.1(b). |
Schedule of changes in balances of deferred tax assets and liabilities | Schedule of changes in balances of deferred tax assets and liabilities Assets As of December 31, 2022 Impact on the P&L Other As of December 31, 2022 Impact on the P&L Other As of December 31, 2023 Tax losses (IR) and negative base (CSL) 3,355 (957) 2,398 1,487 3,885 Exchange variations 4,280 (937) 3,343 (1,274) 2,069 Temporary adjustments 4,782 (216) 4,566 (180) 8 4,394 Lease 1,197 1,197 429 1,626 Business combination Tax credits (i) 698 698 83 781 Other 147 (28) 119 (441) (322) 12,564 (243) 12,321 104 8 12,433 Liabilities Amortization of goodwill based on future profitability 725 (3) 722 (1) 721 Tax depreciation 4,177 (125) 4,052 4 4,056 PIS/COFINS credit - exclusion of ICMS 331 (142) 189 - 189 Temporary adjustments 89 331 420 315 16 751 Right of use of assets - 1,116 1,116 477 1,593 Present value adjustment and amortized cost 155 212 57 424 (228) (2) 194 Hedge accounting - (1,549) 1,549 - (1,948) 1,948 - Amortization of fair value adjustments on 232 (46) 186 (37) (34) 115 Other 5 (173) 174 6 29 13 48 5,714 (379) 1,780 7,115 (1,389) 1,941 7,667 Net 6,850 136 (1,780) 5,206 1,493 (1,933) 4,766 Presentation in the balance sheet: Non-current assets 8,257 6,359 6,443 (-) Non-current liabilities 1,407 1,153 1,677 (i) Tax credits refer to the income tax paid by subsidiaries abroad, not used by Braskem S.A. in 2022 due to its tax losses, to be used in the coming years. |
Schedule of deferred taxes offset for the purpose of presentation in the balance sheet | Schedule of deferred taxes offset for the purpose of presentation in the balance sheet 2023 2022 Deferred tax assets Deferred tax liabilities Balance Deferred tax assets Deferred tax liabilities Balance Braskem 9,590 (3,744) 5,846 9,112 (3,342) 5,770 Braskem Argentina (6) (6) 21 (16) 5 Braskem America 390 (1,364) (974) 525 (1,662) (1,137) Braskem Alemanha 24 (15) 9 23 23 Braskem Idesa 1,840 (2,531) (691) 2,080 (1,840) 240 Braskem Idesa Serviços Braskem Mexico 333 333 86 86 B&TC 4 (8) (4) (17) (17) Cetrel 34 (4) 30 39 (5) 34 DAC 25 (2) 23 33 (2) 31 Terminal Quimica 13 13 2 2 Voqen (2) (2) Wise 30 (3) 27 12,433 (7,667) 4,766 12,321 (7,115) 5,206 Deferred tax assets 6,443 6,359 Deferred tax liabilities (1,677) (1,153) Balance 4,766 5,206 |
Sundry provisions (Tables)
Sundry provisions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Sundry Provisions | |
Schedule of sundry provision | Schedule of sundry provision 2023 2022 Leniency agreement 1,016 903 Provision for environmental damages (a) 928 1,120 Provision for customers rebates (b) 161 127 Other 120 130 Total 2,225 2,280 Current liabilities 1,282 923 Non-current liabilities 943 1,357 Total 2,225 2,280 |
Schedule of leniency agreements | Schedule of leniency agreements AGU Agreements signed with: CGU and MPF DoJ (i) OAG (i) MPF SEC (i) Total Amounts paid 878 297 407 1,282 206 3,071 (i) U.S. Department of Justice (“DoJ”); Swiss Office of the Attorney General (“OAG”) and U.S. Securities Exchange Commission (“SEC”). |
Schedule of changes in provision | Schedule of changes in provision Leniency Recovery of agreement environmental damage Rebate Other Total December 31, 2021 1,123 1,035 101 153 2,412 Additions, monetary adjustments and exchange variation 98 299 184 20 601 Write-offs through usage and payments (318) (214) (158) (43) (733) December 31, 2022 903 1,120 127 130 2,280 Additions, monetary adjustments and exchange variation 113 108 155 8 384 Write-offs through usage and payments (300) (121) (18) (439) December 31, 2023 1,016 928 161 120 2,225 |
Provisions for legal proceedi_2
Provisions for legal proceedings and contingent liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Provisions For Legal Proceedings And Contingent Liabilities | |
Schedule of lawsuits with probable losses | Schedule of lawsuits with probable losses 2023 2022 Labor claims 186 212 Tax claims IR and CSL 51 52 PIS and COFINS 241 311 ICMS 366 349 Other tax claims 19 24 677 736 Corporate claims 111 103 Civil claims and other 121 120 1,095 1,171 |
Schedule of main claims considered in provisions | Schedule of main claims considered in provisions Description of tax lawsuits Provisioned amount 2023 2022 Taxing Entity: Government State of São Paulo 1) ICMS tax on interstate purchases: Charge of tax on undue use of credits arising from the acquisition of products for exports, plus fine due to lack of presentation of tax documents requested. The lawsuits are under legal phase and the Company pledged performance bond at their full amount. 346 329 Taxing Entity: Federal Government 2) Non-cumulative PIS and COFINS taxes: Charges of amounts due to offset of non-cumulative PIS and COFINS tax credits, related to the periods from 2005 to 2010 and from 2012 to 2018, that were not approved by the Federal Revenue Service of Brazil. The lawsuits refer to offsetting statements in amounts that exceeded those declared, freight expenses, acquisition of property, plant and equipment and revenues incorrectly classified. They are under administrative phase and the amount is fully provisioned. Part of debits were included in the Tax Litigation Reduction Program, leading to a reduction of R$80. 132 212 3) PIS and COFINS taxes: Charge of debits related to various periods, between 1999 and 2002, arising from insufficient payments of contributions and offset considered undue by the Tax Authority using credit resulting from the addition of 1% to the COFINS rate and PIS credits under Decree-Laws 2,445 and 2,449, whose period of use had allegedly expired. The lawsuits are under legal phase and the Company pledged bank guarantee and performance bonds at their full amount. 79 70 4) Sundry tax lawsuits 120 125 Total tax lawsuits 677 736 Description of corporate lawsuits Provisioned amount 2023 2022 Plaintiff: Banco do Brasil S.A 1) The Company is party to writ of debt filed against it in 1991, currently under appellate phase. Triken S.A. (“Triken”), merged into Braskem, received unfavorable decision to distribute remaining profits to the plaintiffs (preferred shareholders) that were non-controlling shareholders. The amount related to the lawsuit is fully provisioned by the Company. 88 82 2) Sundry corporate lawsuits 23 21 Total corporate lawsuits 111 103 |
Schedule of changes in claims with probable chance of loss | Schedule of changes in claims with probable chance of loss Corporate Civil claims Labor claims Tax claims claims and other Total December 31, 2021 269 715 95 75 1,154 Additions, monetary adjustments and exchange variation 129 60 9 76 274 Payments (59) (9) (1) (2) (71) Reversals (*) (127) (32) (29) (188) December 31, 2022 212 736 103 120 1,171 Additions, monetary adjustments and exchange variation 71 143 8 46 268 Payments (37) (10) (25) (73) Reversals (*) (60) (191) (20) (271) December 31, 2023 186 677 111 121 1,095 (*) A provision reversal occurs when the probability of loss or the value attributed to the lawsuit changes, or the suit is closed with a cash disbursement lower than the provisioned amount. |
Schedule of contingent liabilities | Schedule of contingent liabilities 2023 2022 Tax claims 26,216 18,271 Civil claims - Alagoas 8,971 5,489 Civil claims - Other 740 786 Social security claims 824 516 Environmental claims 689 640 Labor claims 513 606 Other lawsuits 424 381 Total 38,377 26,689 |
Schedule of breakdown of contingent liabilities | Schedule of breakdown of contingent liabilities Description of tax lawsuits Estimate 2023 2022 Taxing Entity: Federal Government 1) Income taxes tax: Tax assessments related to calendar years 2015, 2016, 2018 and 2019, due to non-recognition of application of Agreement to avoid double taxation, signed between Brazil and Netherlands, which establishes that profits from Dutch companies are not taxable in Brazil at the end of every year. The notification for the calendar years 2018 and 2019, received in 2023, also involved non-deductibility of interest rates due to a different understanding regarding the sub-capitalization limit and its tax effects. The inflation-adjusted amount of uncertain tax treatment includes periods mentioned or not mentioned in tax assessments. In view of the calculation of tax losses by the Company in calendar years 2022 and 2023, the amounts related to these periods were calculated considering only the principal amount, excluding fines and interest rates. The amount related to the calendar year 2017 was excluded from this lawsuit due to its time-barring. In addition to including the amount related to calendar year 2023, the lawsuit also considers the amount related to calendar year 2020, due to the issue of financial statements of Dutch entities under local GAAP. The lawsuits are under administrative phase. 18,552 10,665 2) Non-cumulative PIS and COFINS taxes: Charge related to calendar years 2004 to 2018, arising from use of credits on acquisition of goods and services consumed in the production process. The lawsuits are under administrative and legal phase, and the Company pledged performance bonds and deposits at their full amount. 1,507 1,400 3) Income taxes tax: Tax assessments arising from deducted amortization charges, between 2007 and 2013, from goodwill originated from equity interests acquired during 2002. The lawsuits are under administrative and legal phases, and the Company pledged performance bonds at their full amount. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$150. 1,027 1,100 4) Income taxes tax: Tax assessments related to calendar years 2012 and 2015, arising from disallowances of exchange variation expenses with naphtha import transactions, incurred after due date of commercial invoices. The lawsuits also address inflation adjustment in income tax losses and social contribution tax loss carryforwards and partial disallowance of cost of naphtha imported from subsidiary abroad. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$198. The lawsuits are under administrative phase. 1,000 1,200 5) IR/CSL tax: Tax assessments related to the offset of credits from income tax losses and social contribution tax loss carryforward with IR and CSL debits, in merger events carried out in November 2007 and August 2013, exceeding the limit of 30%. The lawsuits are under legal phase, and the Company pledged performance bonds at their full amount. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$150. 346 462 6) Income taxes rate: Tax assessments arising from deducted amortization charges, between 2020 and 2021, from goodwill originated from equity interests acquired during 2012, by Cetrel and DAC. The lawsuits are pending in the administrative sphere in higher courts. 212 195 7) Income taxes rate: Charges due to the non-approval of offsets made using credits arising from negative balance. The lawsuits are under administrative and legal phases, and the Company pledged performance bonds at their full amount. 185 176 8) Social security contributions: Charge of additional contribution for Occupational Environmental Risk to fund the special retirement plan due to the alleged exposure of workers to hazardous agents from January 2016 to July 2018, from November 2000 to January 2001 and from November 2001 to June 2002. The lawsuits are under administrative and legal phases, and the Company pledged performance bonds at their full amount. 183 203 9) PIS and COFINS taxes: Charges arising from alleged undue offsets using credits from other federal taxes. The lawsuits address credits arising from: i) prepayments of IR tax, ii) FINSOCIAL and COFINS taxes, iii) tax on net profit, iv) PIS-Decree-Laws 2,445 and 2,449. The lawsuits are under legal phase, and the Company pledged bank guarantees and performance bonds at their full amount. 142 136 10) Income taxes rate: Tax assessment arising from disallowance of advertising and commission expenses, paid by Braskem and Braskem Inc., and the lack of payment of withholding tax on them. The lawsuit is under administrative phase. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$28. 138 153 11) PIS and COFINS taxes: Charges due to the non-approval of offsets using credits from Cide-Combustíveis, as authorized by Federal Law 10,336/2001. The lawsuits are under legal phase, and the Company pledged performance bonds at their full amount. 128 123 Taxing Entity: State Government of Alagoas 12) ICMS tax: Tax assessments related to calendar years 2015 to 2019, due to lack of ICMS reversal on output with tax deferral. The lawsuits are under administrative phase. 698 639 Taxing Entity: State Governments of São Paulo, Rio de Janeiro, Bahia, Pernambuco, Rio Grande do Sul and Alagoas 13) ICMS tax: Charges of tax underpayments. The lawsuits refer to (i) use of tax credits to acquire property, plant and equipment,goods considered as for use and consumption and products subject to tax replacement; (ii) transfers of finished products at amount below the production cost; (iii) non-payment of tax due to: input or output omissions; charges related to electricity operations and sale of products subject to tax replacement; (iv) lack of evidence of export of goods; (v) fines for lack of registration of invoices. The lawsuits are under administrative and legal phases, and the Company pledged bank guarantees, performance bonds and judicial deposits at their full amount. Part of the amount related to the use and consumption matter was reclassified to remote loss, in accordance with decision 1.775.781/SP issued by EAREsp, leading to a reduction of around R$147. 623 768 14) Sundry tax lawsuits 1,477 1,051 Total tax lawsuits 26,216 18,271 Description of civil lawsuits Estimate 2023 2022 Plaintiff: Resibril Química S.A. 1) Lawsuit filed by Resibril, former reseller of solvents, claiming alleged breach of a tacit distribution agreement. The lawsuit is awaiting judgment. 340 302 2) Civil lawsuits - Alagoas (Note 24.1) 8,971 5,489 3) Sundry civil lawsuits 400 484 Total civil lawsuits 9,711 6,275 Description of social security lawsuits Estimate 2023 2022 Plaintiff: Former team members 1) Lawsuits over withdrawal of sponsorship of Petros plan. Currently, the portfolio is composed of 743 lawsuits filed by former team members of Braskem or merged companies, beneficiaries of Petros plans (Copesul, Copene and PQU), related to sundry matters arising from withdrawal of sponsorship of the plan, whose claims include: Difference of Individual Withdrawal Fund, additional of 90%, and Objection to legality of Withdrawal of Sponsorship. The increase in the amount involved during the year is mainly due to (i) the fresh lawsuits resulting from Petros' notice requesting reimbursement of amounts from Braskem as per the withdrawal agreement, and (ii) a valuation of lawsuit involving a significant amount. 668 379 2) Social security lawsuits 156 137 Total social security lawsuits 824 516 Description of environmental lawsuits Estimate 2023 2022 Plaintiff: São Paulo State Prosecution Office 1) Public-Interest Civil Action (Hashimoto) filed in June 2018 by the São Paulo State Prosecution Office against the Company and other firms that operate in the Capuava Petrochemical Complex, whose claims include the reparation and/or remediation of environmental damages . After Braskem filed its defense in December 2020, there were no changes, and the lawsuit remains awaiting expert evidence. 225 201 Plaintiff: Local Government of Ulianópolis - Pará 2) Public-Interest Civil Action filed in September 2011 by the Local Government of Ulianópolis, Pará, against Braskem and other companies, whose claims include the reparation and/or remediation of environmental damages allegedly resulting from the improper delivery of waste. The companies filed defense, however, a decision was rendered determining the temporary dismissal of the action for one year. 397 363 3) Sundry environmental lawsuits 67 76 Total environmental lawsuits 689 640 Description of other lawsuits Estimate 2023 2022 Plaintiff: Américo Vinícius de Carvalho and Others 1) The Company is party to writ of debt filed against it in 1988, currently under liquidation of award. Polialden Petroquímica S.A. (“Polialden”), merged into Braskem, received unfavorable decision to distribute remaining profits to the plaintiffs (preferred shareholders) that were non-controlling shareholders. The lawsuit awaits accounting evidence of amounts due. 287 262 2) Sundry other lawsuits 137 119 Total other lawsuits 424 381 |
Geological event - Alagoas (Tab
Geological event - Alagoas (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Geological Event - Alagoas | |
Schedule of provision | Schedule of provision 2023 2022 Balance at the beginning of the year 6,627 7,661 Additions (*) 2,307 1,520 Payments (**) (3,826) (2,743) Realization of present value adjusment 132 188 Balance at the end of the year 5,240 6,627 Current liability 2,759 4,248 Non-current liability 2,481 2,379 Total 5,240 6,627 (*) In 2023, include: a) the additional provision of R$ 980 (R$ 920 net of present value adjustment) of the Instrument of Global Agreement of R$ 1.7 billion disclosed above, of which approximately R$ 720 were already provisioned. Of this amount, R$700 was disbursed in 2023 and R$1 billion (R$961 net of present value adjustment) is classified as other accounts payable; b) monetary adjustment in total of R$ 114 classified as financial expense. (**) Of this amount, R$2,686 (2022: R$ 2,532) refers to payments made and R$1,140 (2022: R$ 211) was reclassified to other accounts payable. |
Benefits offered to employees (
Benefits offered to employees (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of short-term benefits | Schedule of short-term benefits 2023 2022 2021 Health care 272 244 236 Private pension 118 128 137 Transport 91 86 77 Meals 70 63 51 Life insurance 12 10 10 Training 22 27 16 Other 26 16 13 611 574 540 |
Schedule of long term incentive plan | Schedule of long term incentive plan Flat Grant Date End of Grace Period Settlement Method Granted quantities (-) Canceled (-) Qty. on 12/31/2022 (+) Granted (-) Canceled (-) Qty. on 12/31/2023 Fair value of the share* 2020 Plan 04/01/20 04/01/23 Shares 1,007,883 (72,743) (2,373) 932,767 (5,683) (927,084) 2020 Plan 04/01/20 04/01/23 Cash 314,333 (47,943) 266,390 (4,887) (261,503) 2021 Plan 05/10/21 05/10/24 Shares 557,888 (9,598) 548,290 (31,751) 516,539 R$ 51.39 2021 Plan 05/10/21 05/10/24 Cash 144,779 144,779 (3,879) 140,900 USD 9.67 2022 Plan 05/17/22 05/17/25 Shares 537,870 537,870 (32,462) 505,408 R$ 44.15 2022 Plan 05/17/22 05/17/25 Cash 132,902 132,902 (1,115) 131,787 USD 9.67 2023 Plan 09/06/23 09/06/26 Shares 931,050 931,050 R$ 23.02 2023 Plan 09/06/23 09/06/26 Cash 213,400 (5,080) (114) 208,206 USD 7.16 (*) Values in monetary units. |
Schedule of amounts in statement of financial position | Schedule of amounts in statement of financial position 2023 2022 Defined benefit Novamont Braskem America 57 58 Braskem Idesa 30 23 Braskem Alemanha and Netherlands 165 148 252 229 Health care (i) Bradesco saúde 368 322 Total obligations 620 551 Fair value of plan assets (53) (57) Consolidated net balance (non-current liabilities) 567 494 (i) According to Brazilian laws, the type of health plan offered by Braskem, named contributory plan, ensures to the participant who retires or is dismissed without cause the right to remain in the plan with the same assistance coverage conditions they had during the employment term, provided they assume the full payment of the plan (Company’s part + participant’s part). |
Schedule of changes in obligation and fair value | Schedule of changes in obligation and fair value 2023 2022 2021 Health Benefit Health Benefit Health Benefit care plans Total care plans Total care plans Total Balance at beginning of year 322 229 551 245 363 608 218 370 588 Current service cost 5 8 13 5 13 18 5 14 19 Interest cost 29 13 42 20 7 27 16 6 22 Benefits paid (15) (6) (21) (13) (34) (47) (11) (7) (18) Actuarial losses (gain) 27 27 65 (83) (18) 17 (27) (10) Exchange variation 8 8 (37) (37) 7 7 Balance at the end of the year 368 252 620 322 229 551 245 363 608 |
Schedule of actuarial assumptions | Schedule of actuarial assumptions 2023 2022 2021 Novamont Novamont Novamont Health Braskem Braskem Health Braskem Braskem Health Braskem Braskem care America Idesa Germany Netherlands care America Idesa Germany Netherlands care America Idesa Germany Netherlands Discount rate 5.35 5.20 10.50 3.60 4.15 5.97 5.10 8.00 1.20 3.60 5.33 2.90 8.00 1.20 1.20 Inflation rate 3.00 n/a 3.50 2.00 2.00 3.00 n/a 4.00 2.00 2.00 3.00 n/a 4.00 2.00 2.00 Rate of increase in future salary levels n/a n/a 4.50 3.25 3.25 n/a n/a 5.00 3.00 3.25 n/a n/a 5.00 3.00 3.00 Rate of increase in future pension plan n/a n/a n/a 2.25 2.25 n/a n/a n/a 1.75 2.25 n/a n/a n/a 1.75 1.75 Aging factor 2.50 n/a n/a n/a n/a 2.50 n/a n/a n/a n/a 2.50 n/a n/a n/a n/a Medical inflation 3.25 n/a n/a n/a n/a 3.50 n/a n/a n/a n/a 3.50 n/a n/a n/a n/a Duration 12.10 n/a n/a n/a n/a 12.83 n/a n/a n/a n/a 14.16 n/a n/a n/a n/a |
Schedule of sensitivity analysis | Schedule of sensitivity analysis Impact on the defined benefit obligation Premise change Premise increase Premise reduction Novamont Novamont Novamont Health Braskem Braskem Health Braskem Braskem Health Braskem Braskem care America Idesa Germany Netherlands care America Idesa Germany Netherlands care America Idesa Germany Netherlands Discount rate 1.00 1.00 1.00 0.25 0.25 38 (2) 2 (6) 47 9 2 7 4 Rate of increase in future pension plan 1.00 n/a n/a 0.25 0.25 (9) n/a n/a 5 9 n/a n/a (5) Life expectancy 1.00 n/a n/a 1 1 49 n/a n/a 4 (40) n/a n/a (4) Mortality rate n/a 10.00 n/a n/a n/a n/a 1 n/a n/a n/a n/a 5 n/a n/a n/a |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Equity | |
Schedule of capital | Schedule of capital Amount of shares Common Preferred shares Preferred shares shares % class A % class B % Total % Novonor 226,334,623 50.11 79,182,498 22.95 305,517,121 38.32 Petrobras 212,426,952 47.03 75,761,739 21.96 288,188,691 36.15 ADR (i) 62,466,606 18.10 62,466,606 7.84 Other 12,907,077 2.86 127,649,522 36.99 478,790 100.00 141,035,389 17.69 Total 451,668,652 100.00 345,060,365 100.00 478,790 100.00 797,207,807 100.00 Treasury shares 27 27 Total 451,668,652 100.00 345,060,392 100.00 478,790 100.00 797,207,834 100.00 Authorised 535,661,731 616,682,421 593,818 1,152,937,970 (i) American Depositary Receipt ("ADR") traded on the New York Exchange - NYSE (USA) |
Schedule of changes in shares | Schedule of changes in shares Amount of shares Note 2022 Changes 2023 Outstanding shares Commom shares 451,668,652 451,668,652 Preferred Class A 26.2 344,394,984 665,381 345,060,365 Preferred Class B 478,790 478,790 796,542,426 665,381 797,207,807 Treasury shares Preferred Class A 26.2 665,408 (665,381) 27 Total 797,207,834 797,207,834 |
Schedule of accumulated losses | Schedule of accumulated losses 2023 Loss for the year of the Company's shareholders (4,579) Amounts posted directly to the Retained Earnings account: Realization of deemed cost of parent company, net of taxes15 15 (4,564) Loss absorption using profit reserve: Profit reserves 1,826 Accumulated losses (2,738) |
Earnings (loss) per share (Tabl
Earnings (loss) per share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of reconciliation of profit or loss | Schedule of reconciliation of profit or loss 2023 2022 2021 Basic and diluted Basic and diluted Basic Diluted (Loss) profit for the year attributed to Company's shareholders (4,579 (336 13,985 13,985 Distribution of priority dividends attributable to: Preferred shares class "A" 209 209 Preferred shares class "B" 0 0 209 209 Distribution of 6% ​​of unit price of common shares 274 274 Distribution of excess profits, by class: Common shares 7,664 7,664 Preferred shares class "A" 5,838 5,838 13,502 13,502 Reconciliation of (loss) income available for distribution, by class (numerator): Common shares (2,595 (191 7,938 7,938 Preferred shares class "A" (1,981 (145 6,047 6,047 Preferred shares class "B" (3 (4,579 (336 13,985 13,985 Weighted average number of shares, by class (denominator): Common shares 451,668,652 451,668,652 451,668,652 451,668,652 Preferred shares class "A" 344,796,036 344,329,470 344,054,700 345,049,701 Preferred shares class "B" 478,790 478,790 500,171 500,171 796,943,478 796,476,912 796,223,523 797,218,524 Profit (loss) per share (in R$) Common shares (5.7458 (0.4215 17.5747 17.5747 Preferred shares class "A" (5.7458 (0.4215 17.5749 17.5242 Preferred shares class "B" (5.7458 (0.4215 0.5798 0.5798 Weighing of shares 2023 Basic Preferred shares Class "A" Outstanding Weighted shares average Amount at beginning of the year 344,394,984 344,394,984 Incentive long term plan payments with treasury shares 665,381 401,052 Amount at the end of the year 345,060,365 344,796,036 2022 Basic Preferred shares Class "A" Outstanding Weighted shares average Amount at beginning of the year 344,158,226 344,158,226 Incentive long term plan payments with treasury shares 236,758 171,244 Amount at the end of the year 344,394,984 344,329,470 2021 Basic Preferred shares Class "A" Class "B" Outstanding Weighted Outstanding Weighted shares average shares average Amount at beginning of the year 343,824,794 343,824,794 500,230 500,230 Incentive long term plan payments with treasury shares 322,712 229,877 Conversion shares class "B" into shares class "A" 10,720 29 (21,440) (59) Amount at the end of the year 344,158,226 344,054,700 478,790 500,171 |
Net revenue (Tables)
Net revenue (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of net sales and service revenue | Schedule of net sales and service revenue 2023 2022 2021 Net sales and services revenue 70,569 96,519 105,625 |
Schedule of net revenue by country | Schedule of net revenue by country 2023 2022 2021 Brazil 39,997 56,217 55,830 United States 12,429 18,086 24,232 Mexico 3,329 4,469 5,506 Argentina 1,618 756 2,068 Germany 1,197 1,493 1,912 Switzerland 1,121 1,695 1,231 Italy 1,061 817 1,304 Chile 1,039 2,093 1,230 Netherlands 859 173 643 Luxembourg 755 871 988 Singapore 729 1,095 1,175 Peru 676 740 667 Japan 634 547 1,162 Spain 574 756 518 United Kingdom 554 724 586 Other 3,997 5,987 6,573 70,569 96,519 105,625 |
Schedule of net revenue by product | Schedule of net revenue by product 2023 2022 2021 PE/PP 44,295 61,145 73,306 Ethylene/Propylene 4,435 7,280 5,820 PVC/Caustic Soda/EDC 5,863 5,723 6,873 ETBE/Gasoline 4,309 5,819 4,321 Benzene/Toluene/Xylene 3,721 5,711 5,806 Butadiene 1,211 3,028 3,020 Cumene 1,126 1,425 1,129 Solvents 1,046 422 1,343 Naphtha, condensate and crude oil 638 1,522 1,649 Others 3,925 4,444 2,358 70,569 96,519 105,625 |
Expenses by nature and functi_2
Expenses by nature and function (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of expenses by nature and function | Schedule of expenses by nature and function 2023 2022 2021 Classification by nature: Raw materials other inputs (54,602) (73,182) (63,570) Personnel expenses (3,599) (3,223) (3,478) Outsourced services (3,094) (3,412) (3,194) Depreciation and amortization (5,206) (4,733) (4,178) Freights (4,134) (4,035) (2,966) Idle industrial plants (503) (414) (339) Alagoas geological event (Note 24) (2,193) (1,520) (1,340) Other income 1,769 507 1,843 Other expenses (1,806) (2,270) (3,394) Total (73,368) (92,282) (79,586) Classification by function: Cost of products sold (67,548) (85,161) (73,568) Selling and distribution (1,916) (2,108) (2,056) Loss for impairment of trade accounts receivable and others from clients (83) (38) (9) General and administrative (2,472) (2,764) (2,522) Research and development (383) (374) (297) Other income (i) 1,769 507 1,534 Other expenses (ii) (2,735) (2,344) (2,669) Total (73,368) (92,282) (79,586) (i) In 2023, refers mainly to settlement of claim agreement signed with insurance companies and the final and unappealable decision on the unconstitutionality of the surcharge in the PIS and COFINS rates incurred on operations involving the sale of gasoline and diesel oil . (ii) Refers mainly to expenses incurred with the geological event in Alagoas . |
Financial results (Tables)
Financial results (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes and other explanatory information [abstract] | |
Schedule of financial income or loss | Schedule of financial income or loss 2023 2022 2021 Financial income Interest income 1,469 1,050 440 Inflation indexation income on tax assets 51 16 1,042 Other 158 308 99 1,678 1,374 1,581 Financial expenses Interest expenses (3,780) (3,125) (2,923) Inflation indexation expenses on tax liabilities (107) (266) (94) Discounts granted (14) (129) (76) Loans transaction costs - amortization (189) (261) (691) Adjustment to present value - appropriation (616) (581) (179) Interest expense on leases (281) (203) (174) Other (602) (501) (766) (5,589) (5,066) (4,903) Derivatives and exchange rate variations, net On financial assets (751) (522) 230 On financial liabilities 1,351 (50) (4,233) Gain on derivatives 83 636 246 Losses on derivatives (172) (597) (1,004) 511 (533) (4,760) Total (3,400) (4,225) (8,082) |
Schedule of effects from exchange variation | Schedule of effects from exchange variation End of year rate Average rate Variation 2023 2022 Variation 2023 2022 2021 2023/2022 2022/2021 U.S. dollar - Brazilian real 4.8413 5.2177 -7.21 4.9953 5.1655 5.3956 -3.29 -4.26 Euro - Brazilian real 5.3516 5.5694 -3.91 5.4023 5.4420 6.3784 -0.73 -14.68 Mexican peso - Brazilian real 0.2856 0.2667 7.09 0.2816 0.2569 0.2660 9.61 -3.44 U.S. dollar - Mexican peso 16.9596 19.5720 -13.35 17.7913 20.1249 20.2900 -11.60 -0.81 U.S. dollar - Euro 0.9046 0.9416 -3.93 0.9246 0.9510 0.8458 -2.77 12.44 |
Segment information (Tables)
Segment information (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Segment Information | |
Schedule of results by segment | Schedule of results by segment 2023 Operating expenses Net Cost of Selling, general Results from Other operating Profit (loss) sales products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 49,512 (48,159) 1,353 (1,781) (1,443) (1,871) USA and Europe 17,507 (16,127) 1,380 (802) 309 887 Mexico 4,449 (4,366) 83 (615) 195 (337) Total 71,468 (68,652) 2,816 (3,198) (939) (1,321) Other 782 (501) 281 137 7 8 433 Corporate unit (2,033) 458 (1,575) Braskem consolidated before 72,250 (69,153) 3,097 (5,094) 7 (473) (2,463) Eliminations and reclassifications (1,681) 1,605 (76) 240 (493) (329) Total 70,569 (67,548) 3,021 (4,854) 7 (966) (2,792) 2022 Operating expenses Net Cost of Selling, general Results from Other operating Profit (loss) sales products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 69,080 (63,196) 5,884 (1,853) (1,889) 2,142 USA and Europe 23,421 (19,986) 3,435 (838) 57 2,653 Mexico 5,834 (5,070) 764 (452) (33) 280 Total 98,335 (88,252) 10,083 (3,143) (1,865) 5,075 Other 403 (262) 140 83 35 5 263 Corporate unit (2,197) 19 (2,177) Braskem consolidated before 98,738 (88,514) 10,223 (5,257) 35 (1,841) 3,161 Eliminations and reclassifications (2,219) 3,353 1,135 (27) 4 1,111 Total 96,519 (85,161) 11,358 (5,284) 35 (1,837) 4,272 2021 Operating expenses Net Cost of Selling, general Results from Other operating Profit (loss) sales products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 69,495 (49,310) 20,185 (1,608) (2,211) 16,367 USA and Europe 32,404 (23,343) 9,060 (901) (26) 8,134 Mexico 6,506 (3,414) 3,093 (472) (15) 2,606 Total 108,405 (76,066) 32,338 (2,981) (2,251) 27,106 Other 364 (233) 131 77 5 (29) 183 Corporate unit (1,963) 1,162 (802) Braskem consolidated before 108,769 (76,299) 32,469 (4,867) 5 (1,119) 26,488 Eliminations and reclassifications (3,143) 2,731 (412) (16) (16) (444) Total 105,625 (73,568) 32,057 (4,883) 5 (1,135) 26,044 |
Schedule of assets by segment | Schedule of assets by segment 2023 Investments Property, plant and equipment Intangible assets Right of use of assets Other receivables (i) Reporting segments Brazil 108 17,279 2,658 2,175 1,651 USA and Europe 57 6,359 131 1,234 141 Mexico 14,357 304 409 297 Unallocated amounts 410 15 2 60 Total 165 38,405 3,108 3,820 2,149 2022 Investments Property, plant and equipment Intangible assets Right of use of assets Other receivables (i) Reporting segments Brazil 86 16,868 2,561 2,225 1,755 USA and Europe 63 7,114 159 1,324 118 Mexico 13,443 292 403 290 Unallocated amounts 338 10 1 111 Total 149 37,763 3,022 3,953 2,274 (i) Refers to the non-current items of recoverable taxes, income taxes, judicial deposits and other assets. |
Operations (Details Narrative)
Operations (Details Narrative) R$ in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | |||||
Nov. 30, 2023 USD ($) | Nov. 30, 2023 BRL (R$) | Aug. 16, 2023 | Jun. 14, 2022 | Mar. 31, 2023 BRL (R$) | Dec. 31, 2023 BRL (R$) | Nov. 30, 2023 BRL (R$) | |
Novonor S A [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Proportion of voting rights | 50.11% | ||||||
Proportion of ownership interest equity | 38.32% | ||||||
Braskem Idesa [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Proportion of ownership interest equity | 50% | ||||||
Made payment | R$ 316 | ||||||
Proportion of ownership interest subsidiary | 50% | ||||||
Capital contribution | R$ 193 | ||||||
Capital subscribed | 169 | ||||||
Advance for future capital increase | R$ 24 | ||||||
Financing amount | $ 408 | R$ 1975 | |||||
Withdrawn amount | $ 157 | R$ 760 | |||||
Braskem Siam [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Proportion of ownership interest equity | 51% |
Basis of preparation of the c_4
Basis of preparation of the consolidated financial statements (Details) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Subsidiary 1 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | BM Insurance Company Limited ("BM Insurance") | ||
Headquarters | Bermuda | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 2 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Argentina S.A. (“Braskem Argentina”) | ||
Headquarters | Argentina | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 3 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Energy Ltda. ("Braskem Energy") | ||
Headquarters | Brazil | ||
Total and voting interest | 100% | ||
Subsidiary 4 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Finance Limited (“Braskem Finance”) | ||
Headquarters | Cayman Islands | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 5 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Green S.A. ("Braskem Green") | ||
Headquarters | Brazil | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 6 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Incorporated Limited ("Braskem Inc.") | ||
Headquarters | Cayman Islands | ||
Total and voting interest | 100% | ||
Subsidiary 7 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Mexico, S. de RL de C.V. ("Braskem México") | ||
Headquarters | Mexico | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 8 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Netherlands B.V. ("Braskem Holanda") | ||
Headquarters | Netherlands | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 9 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Petroquímica Chile Ltda. (“Braskem Chile”) | ||
Headquarters | Chile | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 10 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Ventures Ltda. ("Braskem Ventures") | ||
Headquarters | Brazil | ||
Total and voting interest | 100% | 100% | |
Subsidiary 11 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Lantana Trading Co. Inc. (“Lantana”) | ||
Headquarters | Bahamas | ||
Total and voting interest | 100% | ||
Subsidiary 12 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Voqen Energia Ltda. ("Voqen") | ||
Headquarters | Brazil | ||
Total and voting interest | 100% | 100% | |
Subsidiary 13 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Wise Plásticos Ltda ("Wise") | ||
Headquarters | Brazil | ||
Total and voting interest | 61.10% | ||
Subsidiary 14 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | B&TC B.V. ("B&TC") | ||
Headquarters | Netherlands | ||
Total and voting interest | 60% | 60% | |
Subsidiary 15 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem America Finance Company ("Braskem America Finance") | ||
Headquarters | USA | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 16 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem America, Inc. (“Braskem America”) | ||
Headquarters | USA | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 17 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Europe GmbH ("Braskem Alemanha") | ||
Headquarters | Germany | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 18 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Idesa | ||
Headquarters | Mexico | ||
Total and voting interest | 75% | 75% | 75% |
Subsidiary 19 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Idesa Servicios S.A. de C.V. ("Braskem Idesa Serviços") | ||
Headquarters | Mexico | ||
Total and voting interest | 75% | 75% | 75% |
Subsidiary 20 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem India Private Limited ("Braskem India") | ||
Headquarters | India | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 21 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Mexico Proyectos S.A. de C.V. SOFOM ("Braskem México Sofom") | ||
Headquarters | Mexico | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 22 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Mexico Servicios S. RL de C.V. ("Braskem México Serviços") | ||
Headquarters | Mexico | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 23 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Netherlands Finance B.V. (“Braskem Holanda Finance”) | ||
Headquarters | Netherlands | ||
Total and voting interest | 100% | 100% | |
Subsidiary 24 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Netherlands Green B.V. (“Braskem Holanda Green”) | ||
Headquarters | Netherlands | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 25 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Netherlands Inc. B.V. (“Braskem Holanda Inc.”) | ||
Headquarters | Netherlands | ||
Total and voting interest | 100% | 100% | 100% |
Subsidiary 26 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Siam | ||
Headquarters | Thailand | ||
Total and voting interest | 51% | ||
Subsidiary 27 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Braskem Trading & Shipping B.V. ("BTS") | ||
Headquarters | Netherlands | ||
Total and voting interest | 100% | ||
Subsidiary 28 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Builder Brasil Ltda. ("Builder Brasil") | ||
Headquarters | Brazil | ||
Total and voting interest | 100% | 100% | |
Subsidiary 29 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Builder USA LLC. ("Builder USA") | ||
Headquarters | USA | ||
Total and voting interest | 100% | 100% | |
Subsidiary 30 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Cetrel S.A. ("Cetrel") | ||
Headquarters | Brazil | ||
Total and voting interest | 63.70% | 63.70% | 63.70% |
Subsidiary 31 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Distribuidora de Água Camaçari S.A. ("DAC") | ||
Headquarters | Brazil | ||
Total and voting interest | 63.70% | 63.70% | 63.70% |
Subsidiary 32 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | ER Plastics B.V. ("ER Plastics") | ||
Headquarters | Netherlands | ||
Total and voting interest | 60% | 60% | |
Subsidiary 33 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Subsidiary name | Terminal Química | ||
Headquarters | Mexico | ||
Total and voting interest | 37.50% | 75% | 75% |
Specific Purpose Entity 1 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Headquarters | Brazil | ||
Total and voting interest | 100% | 100% | 100% |
Specific Purpose Entity 2 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Headquarters | Brazil | ||
Total and voting interest | 100% | 100% | 100% |
Basis of preparation of the c_5
Basis of preparation of the consolidated financial statements (Details 1) | 12 Months Ended |
Dec. 31, 2023 | |
Braskem Alemanha B T Ce E R Plastics [Member] | |
IfrsStatementLineItems [Line Items] | |
Functional currency | Euro |
B M Insurance Braskem America Braskem America Finance Braskem Holanda Braskem Holanda Finance Braskem Holanda Inc And Braskem Mexico Sofom [Member] | |
IfrsStatementLineItems [Line Items] | |
Functional currency | U.S.dollar ("US$") |
Braskem Idesa Braskem Idesa Servicos Braskem Mexico And Braskem Mexico Servicos [Member] | |
IfrsStatementLineItems [Line Items] | |
Functional currency | Mexican peso |
Braskem Argentina [Member] | |
IfrsStatementLineItems [Line Items] | |
Functional currency | Argentinean peso |
Braskem Chile [Member] | |
IfrsStatementLineItems [Line Items] | |
Functional currency | Chilean peso |
Braskem India [Member] | |
IfrsStatementLineItems [Line Items] | |
Functional currency | Rupee |
Basis of preparation of the c_6
Basis of preparation of the consolidated financial statements (Details Narrative) R$ in Millions | 12 Months Ended |
Dec. 31, 2023 BRL (R$) | |
Basis Of Preparation Of Consolidated Financial Statements | |
Impact on effective tax | R$ 0 |
Effective rate | 15% |
Risk management (Details)
Risk management (Details) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | |||
Derivatives | R$ 199 | R$ 277 | |
Lease | 3,933 | 4,241 | R$ 3156 |
Carrying amount | 3,933 | R$ 4241 | |
Liquidity risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade payables | 13,522 | ||
Borrowings and debentures | 80,694 | ||
Braskem Idesa borrowings | 17,402 | ||
Derivatives | 222 | ||
Loan from non-controlling shareholder of Braskem Idesa | 3,288 | ||
Leniency agreement | 1,053 | ||
Lease | 5,377 | ||
Total | 121,558 | ||
Interest discounted to present value | (47,213) | ||
Carrying amount | 74,345 | ||
Not later than one year [member] | Liquidity risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade payables | 13,522 | ||
Borrowings and debentures | 2,138 | ||
Braskem Idesa borrowings | 950 | ||
Derivatives | 60 | ||
Leniency agreement | 847 | ||
Lease | 1,347 | ||
Total | 18,864 | ||
Interest discounted to present value | (1,000) | ||
Carrying amount | 17,864 | ||
Later than one year and not later than two years [member] | Liquidity risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings and debentures | 3,000 | ||
Braskem Idesa borrowings | 71 | ||
Derivatives | 27 | ||
Leniency agreement | 206 | ||
Lease | 932 | ||
Total | 4,236 | ||
Interest discounted to present value | (2,773) | ||
Carrying amount | 1,463 | ||
Later Than Two Year And Not Later Than Five Years [Member] | Liquidity risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings and debentures | 11,197 | ||
Braskem Idesa borrowings | 979 | ||
Derivatives | 105 | ||
Lease | 1,817 | ||
Total | 14,098 | ||
Interest discounted to present value | (1,956) | ||
Carrying amount | 12,141 | ||
Later than five years [member] | Liquidity risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings and debentures | 64,359 | ||
Braskem Idesa borrowings | 15,403 | ||
Derivatives | 29 | ||
Loan from non-controlling shareholder of Braskem Idesa | 3,288 | ||
Lease | 1,282 | ||
Total | 84,361 | ||
Interest discounted to present value | (41,484) | ||
Carrying amount | R$ 42877 |
Risk management (Details 1)
Risk management (Details 1) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Notes and other explanatory information [abstract] | ||
Equity attributable to the Company's shareholders | R$ 3992 | R$ 7322 |
Equity attributable to the Company's shareholders, percentage | 5.90% | 11.30% |
Third-party capital | R$ 64038 | R$ 57445 |
Third-party capital, percentage | 94.10% | 88.70% |
Total | R$ 68030 | R$ 64767 |
Capital, percentage | 100% | 100% |
Cash and cash equivalents (Deta
Cash and cash equivalents (Details) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
IfrsStatementLineItems [Line Items] | ||||
Total | R$ 14187 | R$ 12466 | R$ 8681 | R$ 13863 |
Domestic Market [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cash | 1,555 | 517 | ||
Cash equivalents | 7,186 | 3,685 | ||
Foreign Market [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cash | 3,784 | 5,557 | ||
Cash equivalents | R$ 1662 | R$ 2707 |
Financial investments (Details)
Financial investments (Details) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Total | R$ 4974 | R$ 2312 |
Current assets | 4,956 | 2,295 |
Non current assets | 18 | 17 |
Financial assets at fair value through profit or loss, category [member] | L F T And L F [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 4,680 | 1,789 |
Financial assets at fair value through profit or loss, category [member] | Restricted Funds Investments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 164 | 305 |
Financial assets at fair value through profit or loss, category [member] | Other Financial Investments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | R$ 130 | R$ 218 |
Financial investments (Details
Financial investments (Details Narrative) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Average yield | 101.37% | 102.59% |
Financial assets at fair value through profit or loss, category [member] | ||
IfrsStatementLineItems [Line Items] | ||
Average yield | 5.30% | 1.18% |
Trade accounts receivable (Deta
Trade accounts receivable (Details) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Expected credit losses | R$ 185 | R$ 112 |
Total | 2,910 | 3,232 |
Trade accounts receivable, current | 2,910 | 3,232 |
Domestic Market [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 1,287 | 1,547 |
Foreign Market [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 1,808 | 1,797 |
Third Parties [Member] | Domestic Market [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 1,273 | 1,533 |
Third Parties [Member] | Foreign Market [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 1,808 | 1,797 |
Related Partie [Member] | Domestic Market [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | R$ 14 | R$ 14 |
Trade accounts receivable (De_2
Trade accounts receivable (Details 1) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Total | R$ 2910 | R$ 3232 |
Trade Accounts Receivables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 3,095 | 3,344 |
Expected Credit Losses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | (185) | (112) |
Not Past Due [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 2,227 | 2,653 |
Not Past Due [Member] | Trade Accounts Receivables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 2,355 | 2,688 |
Not Past Due [Member] | Expected Credit Losses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | (128) | (35) |
Not later than three months [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 605 | 530 |
Not later than three months [member] | Trade Accounts Receivables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 609 | 536 |
Not later than three months [member] | Expected Credit Losses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | (4) | (7) |
Later than three months and not later than six months [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 78 | 22 |
Later than three months and not later than six months [member] | Trade Accounts Receivables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 85 | 25 |
Later than three months and not later than six months [member] | Expected Credit Losses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | (7) | (3) |
Later than six months and not later than one year [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 28 | |
Later than six months and not later than one year [member] | Trade Accounts Receivables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 46 | 95 |
Later than six months and not later than one year [member] | Expected Credit Losses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | R$ 46 | R$ 67 |
Trade accounts receivable (De_3
Trade accounts receivable (Details 2) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Notes and other explanatory information [abstract] | |||
Balance at the beginning of the year | R$ 112 | R$ 132 | R$ 173 |
Additions | (195) | (87) | (145) |
Reversals | 112 | 71 | 150 |
Write-off of receivables | 14 | 36 | 37 |
Additions by business combination | (4) | ||
Balance at the end of the year | R$ 185 | R$ 112 | R$ 132 |
Trade accounts receivable (De_4
Trade accounts receivable (Details Narrative) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Notes and other explanatory information [abstract] | ||
Amounts of trade accounts receivable transferred and derecognized | R$ 4100 | R$ 3500 |
Loss recognized on accounts receivable | R$ 56 | R$ 73 |
Inventories (Details)
Inventories (Details) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Inventories Abstract | ||
Finished goods | R$ 7164 | R$ 8558 |
Semi-finished goods | 505 | 663 |
Raw materials, production inputs and packaging | 2,480 | 2,748 |
Maintenance materials | 934 | 870 |
Advances to suppliers | 157 | 124 |
Imports in transit | 1,292 | 1,067 |
Total | R$ 12532 | R$ 14030 |
Inventories (Details Narrative)
Inventories (Details Narrative) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Inventories Abstract | ||
Net realizable value | R$ 192 | R$ 430 |
Related parties (Details)
Related parties (Details) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable | R$ 2910 | R$ 3232 | |
Inventories (advance to suppliers) | 12,532 | 14,030 | |
Total assets | 91,741 | 88,049 | |
Trade payables current | 13,221 | 12,247 | |
Other payables | 2,202 | 1,583 | |
Loan to non-controlling shareholders of Braskem Idesa | 2,490 | 2,498 | |
Sales of products | 70,569 | 96,519 | R$ 105625 |
Finance income cost1 | (3,400) | (4,225) | (8,082) |
Other income (expenses) | (966) | (1,837) | (1,135) |
Petrobras And Subsidiaries [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable | 8 | 12 | |
Inventories (advance to suppliers) | 56 | 61 | |
Other receivables related parties non current | 26 | 6 | |
Total assets | 90 | 79 | |
Trade payables current | 1,057 | 138 | |
Other payables | 255 | 233 | |
Total liabilities | 1,312 | 371 | |
Sales of products | 123 | 182 | 172 |
Purchases of raw materials, finished goods services and utilities | (16,185) | (22,900) | (19,833) |
Financial expenses | (34) | (12) | |
Other income (expenses) | 27 | 51 | (217) |
Other related parties [member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable | 6 | 2 | |
Dividends and interest on capital | 3 | 4 | |
Other receivables related parties non current | 30 | ||
Total assets | 39 | 6 | |
Trade payables current | 13 | 14 | |
Loan to non-controlling shareholders of Braskem Idesa | 2,490 | 2,498 | |
Total liabilities | 2,503 | 2,512 | |
Sales of products | 337 | 438 | 541 |
Purchases of raw materials, finished goods services and utilities | (155) | (25) | (7) |
Finance income cost1 | 434 | 190 | |
Financial expenses | (141) | (149) | (246) |
General and administrative expenses | (64) | (45) | (67) |
Other income (expenses) | 1 | ||
Related parties [member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable | 14 | 14 | |
Inventories (advance to suppliers) | 56 | 61 | |
Dividends and interest on capital | 3 | 4 | |
Other receivables - related parties current | 11 | ||
Other receivables related parties non current | 56 | 6 | |
Total assets | 129 | 96 | |
Trade payables current | 1,103 | 278 | |
Other payables | 255 | 233 | |
Trade payables non current | 3 | ||
Loan to non-controlling shareholders of Braskem Idesa | 2,490 | 2,498 | |
Total liabilities | 3,848 | 3,012 | |
Sales of products | 460 | 620 | 713 |
Purchases of raw materials, finished goods services and utilities | (16,595) | (23,259) | (20,146) |
Finance income cost1 | 434 | 190 | |
Financial expenses | (141) | (184) | (258) |
General and administrative expenses | (64) | (45) | (67) |
Other income (expenses) | 17 | 51 | (217) |
Novonar And Subsidiaries And Associates [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other receivables - related parties current | 11 | ||
Total assets | 11 | ||
Trade payables current | 33 | 126 | |
Trade payables non current | 3 | ||
Total liabilities | 33 | 129 | |
Purchases of raw materials, finished goods services and utilities | (254) | (334) | (306) |
Financial expenses | R$ 1 | R$ 0 | |
Other income (expenses) | R$ 11 |
Related parties (Details 1)
Related parties (Details 1) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Remuneration | |||
Short-term benefits | R$ 63 | R$ 83 | R$ 120 |
Post-employment benefit | 1 | 2 | 2 |
Long term incentive plan | 10 | 17 | 14 |
Total | R$ 74 | R$ 102 | R$ 136 |
Related parties (Details Narrat
Related parties (Details Narrative) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Mar. 31, 2022 | Feb. 28, 2022 | Dec. 31, 2021 | Oct. 31, 2021 | Mar. 31, 2021 | Jan. 31, 2021 |
Novonor And Its Direct And Indirect Subsidiaries [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | R$ 205 | ||||||
Petrobras Transporte S A [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | R$ 203 | ||||||
Petrocoque S A Industria Comercio [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | R$ 433 | ||||||
Refinaria Alberto Pasqualini [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | R$ 460 | ||||||
New Or Renewed Agreements With Related Companies [Member] | Bottom of range [member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Related parties amount | R$ 20 | ||||||
New Or Renewed Agreements With Related Companies [Member] | Top of range [member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Related parties amount | R$ 60 | ||||||
Refinaria Capuava [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | R$ 3300 | ||||||
Refinaria Duque De Caxias [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | 2,400 | ||||||
Refinaria Henrique Lage [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | 4,700 | ||||||
Refinaria Planalto De Paulinia [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | 8,100 | ||||||
Refinaria Presidente Getulio Vargas [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | 6,800 | ||||||
Companhia De Gas Da Bahia [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | R$ 924 | ||||||
Companhia De Gas Do Estado Do Rio Grande Do Sul [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | R$ 246 | ||||||
Gas De Alagoas S A [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Estimated amount | R$ 1500 |
Taxes recoverable (Details)
Taxes recoverable (Details) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Taxes recoverable | R$ 2831 | R$ 2774 |
Current assets | 1,461 | 1,156 |
Non-current assets | 1,370 | 1,618 |
Value Added Tax On Sales And Services I C M S Normal Pperations [Member] | Parent Companys Subsidiaries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxes recoverable | 604 | 410 |
I C M S Credits From Property Plant And Equipment [Member] | Parent Companys Subsidiaries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxes recoverable | 391 | 303 |
Social Integration Program P I S And Social Contribution On Revenue [Member] | Parent Companys Subsidiaries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxes recoverable | 353 | 560 |
P I S And C O F I N S Credits From Property Plant And Equipment [Member] | Parent Companys Subsidiaries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxes recoverable | 461 | 546 |
Other Taxes Recoverable [Member] | Parent Companys Subsidiaries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxes recoverable | 81 | 243 |
Other Taxes Recoverable [Member] | Foreign Subsidiaries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxes recoverable | 109 | 132 |
Value Added Tax I V A [Member] | Foreign Subsidiaries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxes recoverable | R$ 832 | R$ 580 |
Investments (Details)
Investments (Details) - BRL (R$) R$ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | ||||
Net profit (loss) for the year | R$ 4890 | R$ 821 | R$ 13962 | |
Equity | 3,279 | 6,108 | 6,205 | R$ 3866 |
Investment [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Net profit (loss) for the year | 21 | 76 | ||
Equity | 127 | 110 | ||
Investment 1 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Net profit (loss) for the year | (16) | (4) | ||
Equity | 81 | 81 | ||
Associate [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Net profit (loss) for the year | 70 | 54 | R$ 45 | |
Equity | R$ 288 | R$ 252 |
Investments (Details 1)
Investments (Details 1) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Balance at 2022 | R$ 149 | R$ 59 |
Dividends and interest on equity | (9) | (9) |
Results from equity-acoounted investees | 7 | 35 |
Other comprehensive income | 5 | (1) |
Capital increase | 65 | |
Other | 13 | |
Balance at 2023 | 165 | 149 |
Borealis [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Balance at 2022 | 47 | 41 |
Dividends and interest on equity | (7) | (5) |
Results from equity-acoounted investees | 17 | 11 |
Balance at 2023 | 57 | 47 |
R P R [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Balance at 2022 | 37 | 17 |
Dividends and interest on equity | (2) | (4) |
Results from equity-acoounted investees | 7 | 25 |
Other comprehensive income | 1 | (1) |
Balance at 2023 | 43 | 37 |
Bioglycols L L C [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Balance at 2022 | 41 | |
Results from equity-acoounted investees | (1) | (1) |
Other comprehensive income | 1 | |
Capital increase | 42 | |
Balance at 2023 | 41 | 41 |
Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Balance at 2022 | 24 | 1 |
Results from equity-acoounted investees | (16) | |
Other comprehensive income | 3 | |
Capital increase | 23 | |
Other | 13 | |
Balance at 2023 | R$ 24 | R$ 24 |
Investments (Details 2)
Investments (Details 2) - BRL (R$) R$ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | ||||
Current assets | R$ 37441 | R$ 34457 | ||
Non-current assets | 54,300 | 53,592 | ||
Total assets | 91,741 | 88,049 | ||
Current liabilities | 24,494 | 24,186 | ||
Non-current liabilities | 63,968 | 57,755 | ||
Shareholders' equity | 3,279 | 6,108 | R$ 6205 | R$ 3866 |
Total liabilities and shareholders' equity | 91,741 | 88,049 | ||
Net revenue | 70,569 | 96,519 | 105,625 | |
Loss for the year | 3,021 | 11,358 | 32,057 | |
Net cash (used in) generated from operating activities | (2,272) | 8,952 | 14,786 | |
Net cash used in investing activities | (4,525) | (4,947) | (3,381) | |
Net cash generated from (used in) financing activities | 8,873 | 225 | (16,966) | |
Exchange variation on cash of foreign subsidiaries | (355) | (444) | 378 | |
(Decrease) increase in cash and cash equivalents | 1,721 | 3,786 | (5,182) | |
Braskem Idesa [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Current assets | 3,525 | 3,685 | ||
Non-current assets | 16,477 | 16,108 | ||
Total assets | 20,002 | 19,793 | ||
Current liabilities | 2,138 | 2,427 | ||
Non-current liabilities | 22,276 | 22,070 | ||
Total liabilities | 24,414 | 24,497 | ||
Shareholders' equity | (4,412) | (4,704) | ||
Total liabilities and shareholders' equity | 20,002 | 19,793 | ||
Net revenue | 4,455 | 5,953 | 6,333 | |
Loss for the year | (1,361) | (1,527) | (231) | |
Net cash (used in) generated from operating activities | (863) | 1,349 | 1,961 | |
Net cash used in investing activities | (791) | (695) | (172) | |
Net cash generated from (used in) financing activities | 927 | (220) | (1,004) | |
Exchange variation on cash of foreign subsidiaries | 105 | (23) | 84 | |
(Decrease) increase in cash and cash equivalents | R$ 622 | R$ 411 | R$ 869 |
Property, plant and equipment_2
Property, plant and equipment (Details) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Buildings [member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 3 years 1 month 2 days | 3 years 10 days |
Machinery And Facilities [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 7 years 10 months 13 days | 7 years 3 months 25 days |
Fixtures and fittings [member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 10 years 29 days | 10 years 21 days |
I T Equipment [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 21 years 7 months 13 days | 21 years 10 days |
Lab Equipment [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 9 years 6 months 3 days | 9 years 7 months 2 days |
Security Equipment [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 9 years 9 months 18 days | 10 years 6 months |
Vehicles [member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 18 years 9 months 21 days | 19 years 6 months 3 days |
Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 16 years 4 months 9 days | 18 years 1 month 2 days |
Property, plant and equipment_3
Property, plant and equipment (Details 1) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Beginning balance | R$ 37763 | R$ 37223 |
Acquisitions | 4,114 | 4,951 |
Additions through acquisition | 47 | 77 |
Capitalized financial charges | 298 | 203 |
Foreign currency translation adjustment | 455 | (845) |
Disposals | (397) | (149) |
Depreciation | (3,875) | (3,697) |
Net book value | 38,405 | 37,763 |
Cost | 80,295 | 76,529 |
Accumulated depreciation | (41,890) | (38,766) |
Ending balance | 38,405 | 37,763 |
Land [member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 668 | 688 |
Foreign currency translation adjustment | (7) | (20) |
Transfers by concluded projects | 2 | |
Disposals | (60) | |
Net book value | 603 | 668 |
Cost | 603 | 668 |
Ending balance | 603 | 668 |
Buildings [member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 4,966 | 5,181 |
Acquisitions | 14 | 2 |
Additions through acquisition | 9 | 21 |
Foreign currency translation adjustment | 255 | (122) |
Transfers by concluded projects | 188 | 87 |
Disposals | (3) | |
Depreciation | (219) | (203) |
Net book value | 5,210 | 4,966 |
Cost | 9,120 | 8,528 |
Accumulated depreciation | (3,910) | (3,562) |
Ending balance | 5,210 | 4,966 |
Machinery And Facilities [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 25,218 | 26,292 |
Acquisitions | 312 | 297 |
Additions through acquisition | 34 | 56 |
Foreign currency translation adjustment | 189 | (656) |
Transfers by concluded projects | 3,100 | 2,688 |
Disposals | (180) | (112) |
Depreciation | (3,469) | (3,347) |
Net book value | 25,204 | 25,218 |
Cost | 61,307 | 58,708 |
Accumulated depreciation | (36,103) | (33,490) |
Ending balance | 25,204 | 25,218 |
Projects And Stoppage In Progress [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 6,308 | 4,449 |
Acquisitions | 3,780 | 4,644 |
Additions through acquisition | 1 | |
Capitalized financial charges | 298 | 203 |
Foreign currency translation adjustment | 23 | (39) |
Transfers by concluded projects | (3,713) | (2,915) |
Disposals | (147) | (34) |
Net book value | 6,550 | 6,308 |
Cost | 6,550 | 6,308 |
Ending balance | 6,550 | 6,308 |
Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 603 | 613 |
Acquisitions | 8 | 8 |
Additions through acquisition | 3 | |
Foreign currency translation adjustment | (5) | (8) |
Transfers by concluded projects | 424 | 140 |
Disposals | (6) | (3) |
Depreciation | (187) | (147) |
Net book value | 840 | 603 |
Cost | 2,717 | 2,317 |
Accumulated depreciation | (1,877) | (1,714) |
Ending balance | R$ 840 | R$ 603 |
Property, plant and equipment_4
Property, plant and equipment (Details Narrative) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Description of property, plant and equipment shutdowns duration | The Company makes shutdowns at regular intervals that vary from two to six years to perform these activities. | |
Depreciation rate, property, plant and equipment | 8.07% | 8.51% |
Acquisition of property, plant and equipment with payment installments | R$ 280 | R$ 525 |
Projects And Stoppage In Progress [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Capitalized borrowing costs | R$ 298 | R$ 203 |
Intangible assets (Details)
Intangible assets (Details) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Ending balance | R$ 3108 | R$ 3022 | R$ 2878 |
Cost | 5,708 | 5,511 | 4,125 |
Accumulated amortization | (2,600) | (2,489) | (1,247) |
Beginning balance | 3,022 | 2,878 | |
Acquisitions | 115 | 161 | |
Additions from business combination of Wise | 75 | ||
Additions and goodwill by business combination of ER Plastics | 116 | ||
Foreign currency translation adjustment | 8 | (10) | |
Other write-offs | (10) | ||
Amortization | (111) | (113) | |
Goodwill Based On Expected Future Profitability [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Ending balance | 2,173 | 2,087 | 2,059 |
Cost | 3,302 | 3,216 | 2,059 |
Accumulated amortization | (1,129) | (1,129) | |
Beginning balance | 2,087 | 2,059 | |
Additions and goodwill by business combination of ER Plastics | 28 | ||
Foreign currency translation adjustment | 11 | ||
Brand names [member] | |||
IfrsStatementLineItems [Line Items] | |||
Ending balance | 323 | 320 | 314 |
Cost | 581 | 566 | 549 |
Accumulated amortization | (258) | (246) | (235) |
Beginning balance | 320 | 314 | |
Acquisitions | 1 | ||
Additions from business combination of Wise | 75 | ||
Additions and goodwill by business combination of ER Plastics | 21 | ||
Foreign currency translation adjustment | 15 | (5) | |
Amortization | (12) | (11) | |
Computer software [member] | |||
IfrsStatementLineItems [Line Items] | |||
Ending balance | 468 | 433 | 369 |
Cost | 1,386 | 1,268 | 1,124 |
Accumulated amortization | (918) | (835) | (755) |
Beginning balance | 433 | 369 | |
Acquisitions | 115 | 159 | |
Foreign currency translation adjustment | 4 | (5) | |
Other write-offs | (10) | ||
Amortization | (83) | (80) | |
Customer-related intangible assets [member] | |||
IfrsStatementLineItems [Line Items] | |||
Ending balance | 143 | 182 | 136 |
Cost | 439 | 461 | 393 |
Accumulated amortization | (296) | (279) | R$ 257 |
Beginning balance | 182 | 136 | |
Acquisitions | 1 | ||
Additions and goodwill by business combination of ER Plastics | 67 | ||
Foreign currency translation adjustment | (22) | ||
Amortization | R$ 17 | R$ 22 |
Intangible assets (Details 1)
Intangible assets (Details 1) R$ in Millions | Dec. 31, 2023 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Total goodwill | R$ 2173 |
Northeastern Petrochemical Complex [Member] | |
IfrsStatementLineItems [Line Items] | |
Total goodwill | 668 |
Southern Petrochemical Complex [Member] | |
IfrsStatementLineItems [Line Items] | |
Total goodwill | 1,391 |
E R Plastics [Member] | |
IfrsStatementLineItems [Line Items] | |
Total goodwill | 39 |
Wise Plasticos [Member] | |
IfrsStatementLineItems [Line Items] | |
Total goodwill | R$ 75 |
Intangible assets (Details 2)
Intangible assets (Details 2) R$ in Millions | Dec. 31, 2023 BRL (R$) |
Petrochemical Complex Northeast [Member] | |
IfrsStatementLineItems [Line Items] | |
Carrying amount | R$ 5373 |
Recoverable amount | 12,552 |
Petrochemical Complex South [Member] | |
IfrsStatementLineItems [Line Items] | |
Carrying amount | 6,526 |
Recoverable amount | R$ 30815 |
Intangible assets (Details 3)
Intangible assets (Details 3) | 12 Months Ended |
Dec. 31, 2023 $ / shares | |
Petrochemical Complex Northeast [Member] | |
IfrsStatementLineItems [Line Items] | |
Sales volume (average % of annual growth) | 1.62% |
Investment in maintenance (growth %) | 6.15% |
Average FX rate in USD | $ 5.19 |
Average inflation rates % | 3.34% |
Perpetuity growth (%) | 3.10% |
Pre-tax WACC discount rate | 14.62% |
Post-tax WACC discount rate | 11.77% |
Petrochemical Complex South [Member] | |
IfrsStatementLineItems [Line Items] | |
Sales volume (average % of annual growth) | 1.80% |
Investment in maintenance (growth %) | 8.35% |
Average FX rate in USD | $ 5.19 |
Average inflation rates % | 3.34% |
Perpetuity growth (%) | 3.10% |
Pre-tax WACC discount rate | 15.47% |
Post-tax WACC discount rate | 11.77% |
Intangible assets (Details 4)
Intangible assets (Details 4) | 12 Months Ended |
Dec. 31, 2023 | |
Brands And Patents [Member] | Bottom of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 10 years |
Brands And Patents [Member] | Top of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 20 years |
Software Licenses And Rights Of Use [Member] | Bottom of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 1 year |
Software Licenses And Rights Of Use [Member] | Top of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 10 years |
Customers And Suppliers Agreements [Member] | Bottom of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 14 years |
Customers And Suppliers Agreements [Member] | Top of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 28 years |
Right-of-use assets and lease_3
Right-of-use assets and lease liability (Details) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | R$ 3953 | R$ 2779 |
Acquisitions | 1,361 | 2,236 |
Amortization | (1,342) | (994) |
Disposal | (46) | (11) |
Foreign currency translation adjustment | (106) | (57) |
Right-of-use assets, ending balance | 3,820 | 3,953 |
Rail Cars [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 827 | 986 |
Acquisitions | 237 | 73 |
Amortization | (173) | (173) |
Disposal | (32) | (5) |
Foreign currency translation adjustment | (38) | (54) |
Right-of-use assets, ending balance | 821 | 827 |
Machinery And Equipments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 1,603 | 793 |
Acquisitions | 553 | 1,147 |
Amortization | (564) | (330) |
Disposal | (6) | |
Foreign currency translation adjustment | (1) | |
Right-of-use assets, ending balance | 1,592 | 1,603 |
Vessels [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 1,120 | 697 |
Acquisitions | 276 | 811 |
Amortization | (452) | (386) |
Disposal | (5) | |
Foreign currency translation adjustment | (28) | (2) |
Right-of-use assets, ending balance | 911 | 1,120 |
Buildings And Constructions [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 292 | 265 |
Acquisitions | 149 | 102 |
Amortization | (95) | (75) |
Foreign currency translation adjustment | (40) | |
Right-of-use assets, ending balance | 306 | 292 |
Vehicles [member] | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 106 | 29 |
Acquisitions | 143 | 103 |
Amortization | (54) | (26) |
Disposal | (9) | |
Right-of-use assets, ending balance | 186 | 106 |
Computer equipment [member] | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 5 | 9 |
Acquisitions | 3 | |
Amortization | (4) | (4) |
Right-of-use assets, ending balance | R$ 4 | R$ 5 |
Right-of-use assets and lease_4
Right-of-use assets and lease liability (Details 1) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Right-of-use Assets And Lease Liability | ||
Balance as of January 01 | R$ 4241 | R$ 3156 |
Acquired | 1,283 | 2,232 |
Additions through merger of ER Plastics | 4 | |
Disposals | (70) | (13) |
Interests and monetary and exchange variations, net | 45 | 84 |
Currancy translation adjustments | (78) | (72) |
Payments | (1,209) | (929) |
Interest paid | (279) | (221) |
Balance as of December 31 | 3,933 | 4,241 |
Lease current liabilities | 978 | 1,040 |
Lease non current liabilities | 2,955 | 3,201 |
Lease liabilities | R$ 3933 | R$ 4241 |
Right-of-use assets and lease_5
Right-of-use assets and lease liability (Details 2) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Total | R$ 5378 | R$ 4983 |
Interest disconted to present value | (1,445) | (742) |
Carrying amount | 3,933 | 4,241 |
Not later than one year [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 1,109 | |
Later than one year and not later than two years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 1,347 | 856 |
Later than two years and not later than three years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 932 | 630 |
Later than three years and not later than four years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 807 | 554 |
Later than four years and not later than five years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 631 | 437 |
Later than five years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | R$ 1660 | R$ 1398 |
Right-of-use assets and lease_6
Right-of-use assets and lease liability (Details 3) R$ in Millions | Dec. 31, 2023 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | R$ 1629 |
Cash flows related to the contracts undiscounted | 2,884 |
Later than one year and not later than two years [member] | |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | 15 |
Cash flows related to the contracts undiscounted | 17 |
Later than two years and not later than three years [member] | |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | 97 |
Cash flows related to the contracts undiscounted | 111 |
Later than three years and not later than four years [member] | |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | 114 |
Cash flows related to the contracts undiscounted | 139 |
Later than four years and not later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | 167 |
Cash flows related to the contracts undiscounted | 218 |
Later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | 1,236 |
Cash flows related to the contracts undiscounted | R$ 2399 |
Right-of-use assets and lease_7
Right-of-use assets and lease liability (Details Narrative) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Contractual payments | R$ 61 | R$ 66 |
Weighted average incremental rate | 7.33% | 5.80% |
Non-cash investing and financing activity | R$ 871 | R$ 1910 |
Uninitiated Lease Arrangements [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Commitments of lease agreement | R$ 1628 |
Trade payables (Details)
Trade payables (Details) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Trade account payables | R$ 13221 | R$ 12250 |
Trade account payables, current | 13,221 | 12,247 |
Trade account payables, non current | 3 | |
Third Parties [Member] | Domestic Market [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade account payables | 1,454 | 1,748 |
Third Parties [Member] | Foreign Market [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade account payables | 9,993 | 9,541 |
Third Parties Forfait [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade account payables | 2,125 | 2,431 |
Third Parties Forfait [Member] | Domestic Market [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade account payables | 671 | 683 |
Related Partie [Member] | Domestic Market [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade account payables | 256 | 197 |
Related Partie Forfait [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade account payables | 1,103 | 278 |
Related Partie Forfait [Member] | Domestic Market [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade account payables | R$ 847 | R$ 81 |
Borrowings and debentures (Deta
Borrowings and debentures (Details) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Total | R$ 42236 | R$ 35716 |
Current liabilities | 2,029 | 1,382 |
Non-current liabilities | 40,207 | 34,334 |
Foreign Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | R$ 37164 | 31,065 |
Foreign Currency [Member] | Bond [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of borrowing interest rate | Note 16 | |
Total | R$ 31980 | 26,124 |
Foreign Currency [Member] | Loans Indexed To S O F R [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of borrowing interest rate | 1.55 | |
Total | R$ 5604 | 5,313 |
Borrowings maturity | Jan/2024 to Feb/2031 | |
Foreign Currency [Member] | Other Borrowings [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of borrowing interest rate | 6.41 | |
Total | R$ 58 | 82 |
Borrowings maturity | Apr/2024 to May/2029 | |
Foreign Currency [Member] | Transactions Costs [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings | R$ 478 | (454) |
Local Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | R$ 5072 | 4,651 |
Local Currency [Member] | Other Borrowings [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of borrowing interest rate | 7.04 | |
Total | R$ 19 | 19 |
Borrowings maturity | Jan/2024 to Dec/2035 | |
Local Currency [Member] | Transactions Costs [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings | R$ 28 | (32) |
Local Currency [Member] | Debentures [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of borrowing interest rate | Note 16 | |
Total | R$ 3910 | 3,926 |
Local Currency [Member] | Loans Indexed To I P C A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of borrowing interest rate | 6.01 | |
Total | R$ 341 | 390 |
Borrowings maturity | Jan/2024 to Jan/2031 | |
Local Currency [Member] | Loans Indexed To C D I [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of borrowing interest rate | 1.48 | |
Total | R$ 830 | R$ 348 |
Borrowings maturity | Mar/2024 to Jul/2027 |
Borrowings and debentures (De_2
Borrowings and debentures (Details 1) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | R$ 40207 | R$ 34334 |
2024 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 2,202 | |
2025 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 579 | 628 |
2026 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 1,743 | 581 |
2027 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 2,208 | 2,357 |
2028 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 6,769 | 7,282 |
2029 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 2,850 | 2,888 |
2030 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 7,527 | 8,109 |
2031 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 4,328 | 220 |
2032 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 105 | 113 |
2033 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 4,837 | |
2034 and Thereafter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | R$ 9261 | R$ 9954 |
Borrowings and debentures (De_3
Borrowings and debentures (Details 2) - Foreign Currency [Member] - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Borrowings | R$ 31980 | R$ 26124 |
Bonds 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Issue date | Jul-2011 and Jul-2012 | |
Maturity | Jul-2041 | |
Interest (% per year) | 7.13% | |
Borrowings | R$ 2825 | 3,045 |
Bonds 2 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Issue date | Feb-2014 and May-2014 | |
Maturity | Feb-2024 | |
Interest (% per year) | 6.45% | |
Borrowings | 1,589 | |
Bonds 3 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Issue date | Oct-2017 | |
Maturity | Jan-2028 | |
Interest (% per year) | 4.50% | |
Borrowings | R$ 5798 | 6,249 |
Bonds 4 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Issue date | Nov-2019 | |
Maturity | Jan-2030 | |
Interest (% per year) | 4.50% | |
Borrowings | R$ 7364 | 7,936 |
Bonds 5 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Issue date | Nov-2019 | |
Maturity | Jan-2050 | |
Interest (% per year) | 5.88% | |
Borrowings | R$ 3720 | 4,009 |
Bonds 6 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Issue date | Jul-2020 | |
Maturity | Jan-2081 | |
Interest (% per year) | 8.50% | |
Borrowings | R$ 3077 | R$ 3296 |
Bonds 7 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Issue date | Feb-2023 | |
Maturity | Feb-2033 | |
Interest (% per year) | 7.25% | |
Borrowings | R$ 4976 | |
Bonds 8 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Issue date | Sep-2023 | |
Maturity | Jan-2031 | |
Interest (% per year) | 8.50% | |
Borrowings | R$ 4220 |
Borrowings and debentures (De_4
Borrowings and debentures (Details 3) - Foreign Currency [Member] - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
[custom:BorrowingsOne-0] | R$ 3910 | R$ 3926 |
Debentures 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, Issue date | Mar-2013 | |
Debentures, Issuer | DAC | |
Debentures, Series | Only | |
Debentures, Maturity | Mar-2025 | |
Debentures, Annual stated interest rate (%) | IPCA + 6.00 | |
[custom:BorrowingsOne-0] | R$ 64 | 110 |
Debentures 2 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, Issue date | Sep-2013 | |
Debentures, Issuer | Cetrel | |
Debentures, Series | Only | |
Debentures, Maturity | Sep-2025 | |
Debentures, Annual stated interest rate (%) | 126.5% do CDI | |
[custom:BorrowingsOne-0] | R$ 22 | 35 |
Debentures 3 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, Issue date | Jan-2022 | |
Debentures, Issuer | Braskem | |
Debentures, Series | 1ª | |
Debentures, Maturity | Dec-2028 | |
Debentures, Annual stated interest rate (%) | IPCA + 5.54 | |
[custom:BorrowingsOne-0] | R$ 644 | 616 |
Debentures 4 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, Issue date | Jan-2022 | |
Debentures, Issuer | Braskem | |
Debentures, Series | 2ª | |
Debentures, Maturity | Dec-2031 | |
Debentures, Annual stated interest rate (%) | IPCA + 5.57 | |
[custom:BorrowingsOne-0] | R$ 154 | 147 |
Debentures 5 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, Issue date | May-2022 | |
Debentures, Issuer | Braskem | |
Debentures, Series | 1ª | |
Debentures, Maturity | May-2029 | |
Debentures, Annual stated interest rate (%) | CDI + 1.75 | |
[custom:BorrowingsOne-0] | R$ 769 | 771 |
Debentures 6 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, Issue date | May-2022 | |
Debentures, Issuer | Braskem | |
Debentures, Series | 2ª | |
Debentures, Maturity | May-2032 | |
Debentures, Annual stated interest rate (%) | CDI + 2.00 | |
[custom:BorrowingsOne-0] | R$ 248 | 249 |
Debentures 7 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, Issue date | Aug-2022 | |
Debentures, Issuer | Braskem | |
Debentures, Series | Only | |
Debentures, Maturity | Aug-2029 | |
Debentures, Annual stated interest rate (%) | CDI + 1.75 | |
[custom:BorrowingsOne-0] | R$ 787 | 787 |
Debentures 8 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, Issue date | Nov-2022 | |
Debentures, Issuer | Braskem | |
Debentures, Series | 1ª | |
Debentures, Maturity | Nov-2029 | |
Debentures, Annual stated interest rate (%) | CDI + 1.70 | |
[custom:BorrowingsOne-0] | R$ 1124 | 1,114 |
Debentures 9 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, Issue date | Nov-2022 | |
Debentures, Issuer | Braskem | |
Debentures, Series | 2ª | |
Debentures, Maturity | Nov-2032 | |
Debentures, Annual stated interest rate (%) | CDI + 1.95 | |
[custom:BorrowingsOne-0] | R$ 98 | R$ 97 |
Braskem Idesa Borrowings (Detai
Braskem Idesa Borrowings (Details) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Total | R$ 11250 | R$ 11318 |
Current liabilities | 739 | 868 |
Non-current liabilities | 10,511 | 10,502 |
Total | R$ 11250 | 11,370 |
Bond I [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, maturity | nov-2029 | |
Borrowings, Currency and annual stated interest rate (%) | Us dollar exchange variation + 7.45 | |
Braskem idesa borrowings | R$ 4383 | 4,690 |
Bond I I [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, maturity | feb-2032 | |
Borrowings, Currency and annual stated interest rate (%) | Us dollar exchange variation + 6.99 | |
Braskem idesa borrowings | R$ 5936 | 6,353 |
Bond [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Braskem idesa borrowings | R$ 10319 | 11,043 |
Others 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, maturity | oct-2023 and nov-2023 | |
Borrowings, Currency and annual stated interest rate (%) | Us dollar exchange variation + quarterly Term SOFR + 4.25 | |
Braskem idesa borrowings | R$ 625 | 735 |
Others 2 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, maturity | oct-2023 and nov-2023 | |
Borrowings, Currency and annual stated interest rate (%) | Us dollar exchange variation + semianual Term SOFR + 2.94 | |
Braskem idesa borrowings | R$ 766 | |
Others [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Braskem idesa borrowings | 1,391 | 735 |
Transactions Costs [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Braskem idesa borrowings | R$ 460 | R$ 460 |
Braskem Idesa Borrowings (Det_2
Braskem Idesa Borrowings (Details 1) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Original Long-Term Maturities | R$ 10511 | R$ 10502 |
2028 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Original Long-Term Maturities | 466 | |
2029 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Original Long-Term Maturities | 4,290 | 4,338 |
2032 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Original Long-Term Maturities | R$ 5755 | R$ 6164 |
Braskem Idesa borrowings (Det_3
Braskem Idesa borrowings (Details Narrative) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Braskem Idesa Borrowings | ||
Cash position equivalent | R$ 1562 | R$ 2184 |
Reconciliation of financing a_3
Reconciliation of financing activities in the statement of cash flow (Details) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Additional dividends approved in the board meeting | R$ 1350 | |
Borrowings and debentures current | R$ 2029 | |
Financing current | 739 | |
Lease current | 978 | |
Dividends current | 10 | |
Borrowings and debentures non current | 40,207 | |
Financing non current | 10,511 | |
Non-controlling shareholders non current | 2,490 | |
Lease non current | 2,955 | |
Borrowings and debentures total | 42,236 | |
Braskem Idesa financing total | 11,250 | |
Loan from non-controlling shareholders total | 2,490 | |
Lease total | 3,933 | |
Dividends total | 10 | |
Borrowings And Debentures [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 35,716 | |
Issued | 10,991 | |
Payments | (2,155) | |
Cash used in financing activities | 8,836 | |
Interest paid | (2,450) | |
Interest and monetary and exchange variations, net | 2,359 | |
Addition by subsidiary acquisition | 28 | |
Currency translation adjustments | (2,253) | |
Total other changes | (2,316) | |
Ending balance | 42,236 | 35,716 |
Braskem Idesa Financing [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 11,370 | |
Issued | 1,233 | |
Payments | (576) | |
Cash used in financing activities | 657 | |
Interest paid | (821) | |
Interest and monetary and exchange variations, net | (739) | |
Currency translation adjustments | 783 | |
Total other changes | (777) | |
Ending balance | 11,250 | 11,370 |
Shareholders Of Braskem Idesa [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 2,498 | |
Interest and monetary and exchange variations, net | (171) | |
Currency translation adjustments | 158 | |
[custom:FairValueAdjustmentsOfNonControllingSubsidiaries] | 5 | |
Total other changes | (8) | |
Ending balance | 2,490 | 2,498 |
Lease [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 4,241 | |
Payments | (1,209) | |
Cash used in financing activities | (1,209) | |
Interest paid | (279) | |
Interest and monetary and exchange variations, net | 45 | |
[custom:LeaseContractsClassifiedAsFinancingActivities] | 1,283 | |
[custom:DisposalsClassifiedAsFinancingActivities] | (70) | |
Currency translation adjustments | (78) | |
Total other changes | 901 | |
Ending balance | 3,933 | 4,241 |
Dividends [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 11 | |
Payments | (7) | |
Cash used in financing activities | (7) | |
Additional dividends approved in the board meeting | 6 | |
Total other changes | 6 | |
Ending balance | R$ 10 | R$ 11 |
Financial instruments (Details)
Financial instruments (Details) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Trade Payables [Member] | Financial liabilities at amortised cost, category [member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | R$ 13221 | R$ 12250 |
Book value financial liabilities | 13,221 | 12,250 |
Borrowing [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 36,294 | 33,622 |
Book value financial liabilities | 42,743 | 36,202 |
Braskem Idesa Borrowings [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 7,396 | 9,099 |
Book value financial liabilities | 11,710 | 11,778 |
Loan To Noncontrolling Shareholder Of Braskem Idesa [Member] | Financial liabilities at amortised cost, category [member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 2,555 | 2,290 |
Book value financial liabilities | 2,490 | 2,498 |
Leniency Agreement [Member] | Financial liabilities at amortised cost, category [member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 1,016 | 903 |
Book value financial liabilities | 1,016 | 903 |
Level 2 of fair value hierarchy [member] | Borrowing [Member] | Financial liabilities at amortised cost, category [member] | Foreign Currency Bond [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 5,434 | 5,329 |
Book value financial liabilities | 5,662 | 5,395 |
Level 2 of fair value hierarchy [member] | Borrowing [Member] | Financial liabilities at amortised cost, category [member] | Local Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 1,542 | 1,259 |
Book value financial liabilities | 1,190 | 757 |
Level 2 of fair value hierarchy [member] | Borrowing [Member] | Financial liabilities at amortised cost, category [member] | Debentures [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 3,314 | 3,868 |
Book value financial liabilities | 3,910 | 3,926 |
Level 2 of fair value hierarchy [member] | Braskem Idesa Borrowings [Member] | Financial liabilities at amortised cost, category [member] | Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 1,243 | 797 |
Book value financial liabilities | 1,391 | 735 |
Level 1 of fair value hierarchy [member] | Borrowing [Member] | Financial liabilities at amortised cost, category [member] | Foreign Currency Bond [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 26,004 | 23,166 |
Book value financial liabilities | 31,980 | 26,124 |
Level 1 of fair value hierarchy [member] | Braskem Idesa Borrowings [Member] | Financial liabilities at amortised cost, category [member] | Bond [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 6,153 | 8,302 |
Book value financial liabilities | 10,319 | 11,043 |
Cash And Cash Equivalent [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 14,187 | 12,466 |
Fair value financial assets | 14,187 | 12,466 |
Cash And Cash Equivalent [Member] | Financial assets at fair value through profit or loss, category [member] | Level 2 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 8,848 | 6,392 |
Fair value financial assets | 8,848 | 6,392 |
Cash And Cash Equivalent [Member] | Cash And Banks [Member] | Financial assets at amortised cost, category [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 5,339 | 6,074 |
Fair value financial assets | 5,339 | 6,074 |
Financial Investments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 4,974 | 2,312 |
Fair value financial assets | 4,974 | 2,312 |
Financial Investments [Member] | Letras Financeiras Do Tesouro L F T [Member] | Financial assets at fair value through profit or loss, category [member] | Level 2 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 4,680 | 1,789 |
Fair value financial assets | 4,680 | 1,789 |
Financial Investments [Member] | Other [Member] | Financial assets at fair value through profit or loss, category [member] | Level 2 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 294 | 523 |
Fair value financial assets | 294 | 523 |
Trade Accounts Receivables [Member] | Financial assets at fair value through profit or loss, category [member] | Level 2 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 33 | |
Fair value financial liabilities | 33 | |
Trade Accounts Receivables [Member] | Financial assets at amortised cost, class [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 2,910 | 3,199 |
Fair value financial assets | R$ 2910 | R$ 3199 |
Financial instruments (Details
Financial instruments (Details 1) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Current derivative financial assets | R$ 137 | R$ 158 |
Non-current derivative financial assets | 210 | 72 |
Derivative financial assets | 347 | 230 |
Current derivative financial liabilities | 58 | 195 |
Non-current derivative financial liabilities | 141 | 82 |
Derivative financial liabilities | 199 | 277 |
Derivative financial assets and liabilities | (148) | 47 |
Non Hedge Accounting Transactions [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | (3) | (16) |
Increase (decrease) in credit derivative, fair value | 67 | |
Credit derivative financial settlement | (54) | |
Hedge Accounting Transactions [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | (201) | 63 |
Increase (decrease) in credit derivative, fair value | (202) | |
Credit derivative financial settlement | (62) | |
Braskem Holanda Swap Nafta Gasolina [Member] | Non Hedge Accounting Transactions [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | (3) | (16) |
Increase (decrease) in credit derivative, fair value | 67 | |
Credit derivative financial settlement | (54) | |
Braskem S A Dollar Call And Put Options [Member] | Hedge Accounting Transactions [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | (37) | (65) |
Increase (decrease) in credit derivative, fair value | 11 | |
Credit derivative financial settlement | 17 | |
Braskem S A Dollar Swap C D I [Member] | Hedge Accounting Transactions [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | (36) | 152 |
Increase (decrease) in credit derivative, fair value | (91) | |
Credit derivative financial settlement | (97) | |
Braskem S A Swap C R A [Member] | Hedge Accounting Transactions [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | (128) | R$ 24 |
Increase (decrease) in credit derivative, fair value | (122) | |
Credit derivative financial settlement | R$ 18 |
Financial instruments (Detail_2
Financial instruments (Details 2) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Total nominal | R$ 742 | |
Fair value, net | 128 | R$ 23 |
Swaps C R A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total nominal | R$ 600 | |
Interest rate per year | 3.5388% | |
Maturity date | dec-2028 | |
Fair value, net | R$ 98 | 13 |
Swaps C R A 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total nominal | R$ 141 | |
Interest rate per year | 3.3742% | |
Maturity date | dec-2031 | |
Fair value, net | R$ 30 | R$ 10 |
Financial instruments (Detail_3
Financial instruments (Details 3) - Dec. 31, 2023 R$ in Millions, $ in Millions | USD ($) | BRL (R$) |
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | $ 5,325 | R$ 25780 |
Later than one year [member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 175 | 847 |
Later than one year and not later than two years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 800 | 3,873 |
Later than two years and not later than three years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 1,250 | 6,052 |
Later than three years and not later than four years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 500 | 2,421 |
Later than four years and not later than five years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 800 | 3,873 |
Later Than Five Years And Not Later Than Six Years [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 800 | 3,873 |
Later Than Six Years And Not Later Than Seven Years [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 600 | 2,905 |
Later Than Seven Years And Not Later Than Eight Years [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | $ 400 | R$ 1937 |
Financial instruments (Detail_4
Financial instruments (Details 4) - United States of America, Dollars - Future Exports [Member] R$ in Millions, $ in Millions | Dec. 31, 2023 USD ($) | Dec. 31, 2023 BRL (R$) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 BRL (R$) |
IfrsStatementLineItems [Line Items] | ||||
Designated balance | $ 5,325 | R$ 25780 | $ 5,239 | R$ 27336 |
Hedge discontinued | (314) | (1,629) | ||
Designations | $ 400 | 2,044 | ||
Currency translation adjustments | R$ 1971 |
Financial instruments (Detail_5
Financial instruments (Details 5) - Braskem Idesa [Member] R$ in Millions, $ in Millions | Dec. 31, 2023 USD ($) R$ / $ | Dec. 31, 2023 BRL (R$) R$ / $ |
IfrsStatementLineItems [Line Items] | ||
Discontinued hedge nominal value | $ | $ 714 | |
Discontinued hedge gross nominal value | R$ | R$ 2060 | |
Hedge Discontinued One [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Discontinued hedge nominal value | $ | $ 514 | |
Conversion rate at inception | 2.0017 | 2.0017 |
Closing rate | 5.5466 | 5.5466 |
Discontinued hedge gross nominal value | R$ | R$ 1821 | |
Hedge Discontinued Two [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Discontinued hedge nominal value | $ | $ 200 | |
Conversion rate at inception | 4.0213 | 4.0213 |
Closing rate | 5.2177 | 5.2177 |
Discontinued hedge gross nominal value | R$ | R$ 239 |
Financial instruments (Detail_6
Financial instruments (Details 6) - Braskem Idesa [Member] R$ in Millions, $ in Millions | Dec. 31, 2023 USD ($) R$ / $ | Dec. 31, 2023 BRL (R$) R$ / $ |
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge gross nominal value | R$ | R$ 1653 | |
First Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge gross nominal value | R$ | 332 | |
Second Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge gross nominal value | R$ | 297 | |
Third Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge gross nominal value | R$ | 395 | |
Fourth Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge gross nominal value | R$ | R$ 629 | |
United States of America, Dollars | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge nominal value | $ | $ 718 | |
United States of America, Dollars | First Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge nominal value | $ | $ 168 | |
Opening foreign exchange rate | 2.0017 | 2.0017 |
Closing foreign exchange rate | 3.9786 | 3.9786 |
United States of America, Dollars | Second Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge nominal value | $ | $ 150 | |
Opening foreign exchange rate | 2.0017 | 2.0017 |
Closing foreign exchange rate | 3.9786 | 3.9786 |
United States of America, Dollars | Third Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge nominal value | $ | $ 200 | |
Opening foreign exchange rate | 2.0017 | 2.0017 |
Closing foreign exchange rate | 3.9786 | 3.9786 |
United States of America, Dollars | Fourth Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge nominal value | $ | $ 200 | |
Opening foreign exchange rate | 2.0017 | 2.0017 |
Closing foreign exchange rate | 5.1433 | 5.1433 |
Financial instruments (Detail_7
Financial instruments (Details 7) R$ in Millions | 12 Months Ended |
Dec. 31, 2023 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | R$ 6587 |
Exchange variation recorded in the period on OCI / IR and CSL | 1,268 |
Exchange variation transferred to profit or loss / IR and CSL | 1,091 |
Ending balance | (4,228) |
Exchange Variation [Member] | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | (9,981) |
Exchange variation recorded in the period on OCI / IR and CSL | 1,921 |
Exchange variation transferred to profit or loss / IR and CSL | 1,653 |
Ending balance | (6,407) |
Income Taxes [Member] | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | 3,394 |
Exchange variation recorded in the period on OCI / IR and CSL | (653) |
Exchange variation transferred to profit or loss / IR and CSL | (562) |
Ending balance | R$ 2179 |
Financial instruments (Detail_8
Financial instruments (Details 8) - Dec. 31, 2023 R$ in Millions, $ in Millions | USD ($) | BRL (R$) |
IfrsStatementLineItems [Line Items] | ||
Designated and unrealized sales nominal value | $ 2,228 | R$ 10786 |
Later than one year and not later than two years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Designated and unrealized sales nominal value | 22 | 107 |
Later than two years and not later than three years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Designated and unrealized sales nominal value | 23 | 111 |
Later than three years and not later than four years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Designated and unrealized sales nominal value | 308 | 1,491 |
Later than four years and not later than five years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Designated and unrealized sales nominal value | 225 | 1,089 |
Later Than Five Years And Not Later Than Six Years [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designated and unrealized sales nominal value | 525 | 2,542 |
Later Than Six Years And Not Later Than Seven Years [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designated and unrealized sales nominal value | 525 | 2,542 |
Later Than Seven Years And Not Later Than Eight Years [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designated and unrealized sales nominal value | 300 | 1,452 |
Later Than Eight Years And Not Later Than Nine Years [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designated and unrealized sales nominal value | $ 300 | R$ 1452 |
Financial instruments (Detail_9
Financial instruments (Details 9) R$ in Millions, $ in Millions, $ in Millions | Dec. 31, 2023 USD ($) Number | Dec. 31, 2023 BRL (R$) Number | Dec. 31, 2023 MXN ($) Number |
IfrsStatementLineItems [Line Items] | |||
Total nominal value | $ 1,334 | $ 8,554 | |
Gross nominal value | R$ | R$ 2444 | ||
Hedge Discontinued In May 2016 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Total nominal value | $ 9 | $ 41 | |
Conversion rate | 13.4541 | 13.4541 | 13.4541 |
Closing rate | 17.9915 | 17.9915 | 17.9915 |
Gross nominal value | R$ | R$ 12 | ||
Hedge Discontinued In December 2019 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Total nominal value | $ 460 | $ 2,735 | |
Conversion rate | 13.6667 | 13.6667 | 13.6667 |
Closing rate | 19.6113 | 19.6113 | 19.6113 |
Gross nominal value | R$ | R$ 781 | ||
Hedge Discontinued In December 2019 One [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Total nominal value | $ 17 | $ 100 | |
Conversion rate | 13.4541 | 13.4541 | 13.4541 |
Closing rate | 19.3247 | 19.3247 | 19.3247 |
Gross nominal value | R$ | R$ 29 | ||
Hedge Discontinued In October 2021 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Total nominal value | $ 848 | $ 5,679 | |
Conversion rate | 13.6621 | 13.6621 | 13.6621 |
Closing rate | 20.3587 | 20.3587 | 20.3587 |
Gross nominal value | R$ | R$ 1622 |
Financial instruments (Detai_10
Financial instruments (Details 10) R$ in Millions, $ in Millions, $ in Millions | Dec. 31, 2023 USD ($) $ / $ | Dec. 31, 2023 BRL (R$) $ / $ | Dec. 31, 2023 MXN ($) $ / $ |
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ 1,334 | $ 8,554 | |
Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | 356 | 2,135 | |
Exports designated for hedge gross nominal value | R$ | R$ 608 | ||
First Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ 81 | $ 522 | |
Opening foreign exchange rate | 13.6512 | 13.6512 | 13.6512 |
Closing foreign exchange rate | 20.1269 | 20.1269 | 20.1269 |
Exports designated for hedge gross nominal value | R$ | R$ 151 | ||
Second Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ 79 | $ 510 | |
Opening foreign exchange rate | 13.6521 | 13.6521 | 13.6521 |
Closing foreign exchange rate | 20.1222 | 20.1222 | 20.1222 |
Exports designated for hedge gross nominal value | R$ | R$ 143 | ||
Third Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ 85 | $ 550 | |
Opening foreign exchange rate | 13.6533 | 13.6533 | 13.6533 |
Closing foreign exchange rate | 20.1160 | 20.1160 | 20.1160 |
Exports designated for hedge gross nominal value | R$ | R$ 159 | ||
Fourth Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ 111 | $ 553 | |
Opening foreign exchange rate | 15.0103 | 15.0103 | 15.0103 |
Closing foreign exchange rate | 19.9872 | 19.9872 | 19.9872 |
Exports designated for hedge gross nominal value | R$ | R$ 155 |
Financial instruments (Detai_11
Financial instruments (Details 11) - Braskem Idesa [Member] R$ in Millions | 12 Months Ended |
Dec. 31, 2023 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | R$ 775 |
Exchange variation recorded in the period / IR | 1,071 |
Exchange variation transferred to profit or loss / IR | 426 |
Ending balance | 722 |
Exchange Variation [Member] | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | (1,108) |
Exchange variation recorded in the period / IR | 1,530 |
Exchange variation transferred to profit or loss / IR | 608 |
Ending balance | 1,030 |
Income Taxes [Member] | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | 333 |
Exchange variation recorded in the period / IR | (459) |
Exchange variation transferred to profit or loss / IR | (182) |
Ending balance | R$ 308 |
Financial instruments (Detai_12
Financial instruments (Details 12) | Dec. 31, 2023 | Dec. 31, 2022 |
Minimum Risk [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Expected credit loss rate | 65.62% | 72.15% |
Low Risk [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Expected credit loss rate | 19.33% | 21.65% |
Medium Risk [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Expected credit loss rate | 6.37% | 3.36% |
High Risk [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Expected credit loss rate | 8.28% | 2.56% |
Very High Risk [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Expected credit loss rate | 0.40% | 0.28% |
Financial instruments (Detai_13
Financial instruments (Details 13) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Financial assets with risk assessment no brasil | R$ 11994 | R$ 5829 |
Financial assets with risk assessment no exterior | 6,935 | 8,786 |
Financial assets with risk assessment | 18,929 | 14,615 |
Financial assets with risk classification, no brasil | 149 | 82 |
Financial assets with risk classification, no exterior | 83 | 81 |
Financial assets with risk classification | 232 | 163 |
Financial assets, no brasil | 12,143 | 5,911 |
Financial assets, no exterior | 7,018 | 8,867 |
Financial assets | 19,161 | 14,778 |
A A A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial assets with risk assessment no brasil | 11,438 | 5,130 |
Financial assets with risk assessment no exterior | 2,493 | 2,421 |
Financial assets with risk assessment | 13,931 | 7,551 |
AA+ [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial assets with risk assessment no brasil | 140 | 163 |
Financial assets with risk assessment | 140 | 163 |
A A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial assets with risk assessment no brasil | 130 | 290 |
Financial assets with risk assessment no exterior | 108 | |
Financial assets with risk assessment | 130 | 398 |
AA- [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial assets with risk assessment no brasil | 249 | 149 |
Financial assets with risk assessment | 249 | 149 |
A+ [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial assets with risk assessment no brasil | 1 | 3 |
Financial assets with risk assessment no exterior | 3,072 | 4,460 |
Financial assets with risk assessment | 3,073 | 4,463 |
A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial assets with risk assessment no brasil | 32 | 93 |
Financial assets with risk assessment no exterior | 506 | 1,358 |
Financial assets with risk assessment | 538 | 1,451 |
A- [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial assets with risk assessment no brasil | 4 | |
Financial assets with risk assessment no exterior | 815 | 387 |
Financial assets with risk assessment | 819 | 387 |
B B B [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial assets with risk assessment no brasil | 1 | |
Financial assets with risk assessment no exterior | 49 | 52 |
Financial assets with risk assessment | 49 | 53 |
Other Financial Asset [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial assets with risk classification, no brasil | 149 | 82 |
Financial assets with risk classification, no exterior | 83 | 81 |
Financial assets with risk classification | R$ 232 | R$ 163 |
Financial instruments (Detai_14
Financial instruments (Details 14) R$ in Millions | 12 Months Ended |
Dec. 31, 2023 BRL (R$) | |
Bond [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | R$ 42299 |
Probable amount | (513) |
Reasonably possible gain (loss) | (5,352) |
Possible gain (loss) | (16,055) |
Export Prepayments [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (2,170) |
Probable amount | (26) |
Reasonably possible gain (loss) | (275) |
Possible gain (loss) | (824) |
Export Prepayments [Member] | Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (2,170) |
Probable amount | 28 |
Reasonably possible gain (loss) | (223) |
Possible gain (loss) | (668) |
Investment [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (1,577) |
Probable amount | (19) |
Reasonably possible gain (loss) | (199) |
Possible gain (loss) | (598) |
Investment [Member] | Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (1,577) |
Probable amount | 31 |
Reasonably possible gain (loss) | (248) |
Possible gain (loss) | (744) |
Sace [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (1,156) |
Probable amount | (14) |
Reasonably possible gain (loss) | (146) |
Possible gain (loss) | (439) |
Sace [Member] | Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (1,156) |
Probable amount | 24 |
Reasonably possible gain (loss) | (191) |
Possible gain (loss) | (574) |
Dollar Call And Put Options [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | 37 |
Probable amount | (16) |
Reasonably possible gain (loss) | (92) |
Possible gain (loss) | (453) |
Dollar Swap C D I Liability [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (541) |
Probable amount | (8) |
Reasonably possible gain (loss) | (70) |
Possible gain (loss) | (207) |
M O N F O R T E [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (133) |
Probable amount | (2) |
Reasonably possible gain (loss) | (17) |
Possible gain (loss) | (50) |
M O N F O R T E [Member] | Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (133) |
Probable amount | 1 |
Reasonably possible gain (loss) | (12) |
Possible gain (loss) | (36) |
Nexi [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (84) |
Probable amount | (1) |
Reasonably possible gain (loss) | (11) |
Possible gain (loss) | (32) |
Nexi [Member] | Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (84) |
Probable amount | 2 |
Reasonably possible gain (loss) | (17) |
Possible gain (loss) | (51) |
Other [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (1,392) |
Probable amount | (17) |
Reasonably possible gain (loss) | (176) |
Possible gain (loss) | (528) |
Other [Member] | Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (1,392) |
Probable amount | 16 |
Reasonably possible gain (loss) | (132) |
Possible gain (loss) | (396) |
Financial Investments Abroad [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | 5,489 |
Probable amount | 67 |
Reasonably possible gain (loss) | 694 |
Possible gain (loss) | 2,083 |
Dollar Swap I P C A [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (678) |
Probable amount | 23 |
Reasonably possible gain (loss) | (33) |
Possible gain (loss) | (156) |
Dollar Swap I P C A [Member] | I P C A Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | 808 |
Probable amount | 72 |
Reasonably possible gain (loss) | 29 |
Possible gain (loss) | 77 |
Export Credit Notes [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (484) |
Probable amount | (6) |
Reasonably possible gain (loss) | (61) |
Possible gain (loss) | (184) |
Export Credit Notes [Member] | C D I Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (347) |
Reasonably possible gain (loss) | (35) |
Possible gain (loss) | (113) |
Export Credit Notes [Member] | Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (484) |
Probable amount | 7 |
Reasonably possible gain (loss) | (59) |
Possible gain (loss) | (176) |
Trade Account Receivable [Member] | Brazilian Real U S Dollar Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | 2,890 |
Probable amount | 35 |
Reasonably possible gain (loss) | 366 |
Possible gain (loss) | 1,097 |
Trade Account Receivable [Member] | Brazilian Real E U R Exchange Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | 472 |
Probable amount | 8 |
Reasonably possible gain (loss) | 58 |
Possible gain (loss) | 173 |
Debentures [Member] | C D I Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (3,048) |
Reasonably possible gain (loss) | (555) |
Possible gain (loss) | (1,900) |
Debentures [Member] | I P C A Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (64) |
Possible gain (loss) | (1) |
Financial Investments In Local Currency [Member] | C D I Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | 12,108 |
Reasonably possible gain (loss) | 327 |
Possible gain (loss) | 982 |
Note Of Rural Product [Member] | C D I Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (482) |
Reasonably possible gain (loss) | (33) |
Possible gain (loss) | (104) |
Dollar Swap C D I Asset [Member] | C D I Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | 577 |
Leniency Agreement [Member] | C D I Selic Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (577) |
Reasonably possible gain (loss) | (17) |
Possible gain (loss) | (53) |
B N D E S [Member] | I P C A Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (338) |
Probable amount | 5 |
Reasonably possible gain (loss) | (22) |
Possible gain (loss) | (68) |
Debentures C R A [Member] | I P C A Interest Rate [Member] | |
IfrsStatementLineItems [Line Items] | |
Exposure value | (798) |
Probable amount | 11 |
Reasonably possible gain (loss) | (44) |
Possible gain (loss) | R$ 137 |
Financial instruments (Detai_15
Financial instruments (Details Narrative) $ in Millions, R$ in Billions | Dec. 31, 2023 USD ($) $ / shares | Dec. 31, 2023 BRL (R$) $ / shares | Dec. 31, 2022 USD ($) | Dec. 31, 2022 BRL (R$) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 BRL (R$) | Dec. 31, 2020 USD ($) | Dec. 31, 2020 BRL (R$) | Dec. 31, 2019 USD ($) | Dec. 31, 2019 BRL (R$) | Dec. 31, 2017 USD ($) | Dec. 31, 2017 BRL (R$) |
IfrsStatementLineItems [Line Items] | ||||||||||||
Average export | $ 2,200 | R$ 11.2 | ||||||||||
Put Options [Member] | ||||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||||
Notional amount | R$ 6.7 | $ 1,500 | ||||||||||
Average strike price | Number | 4.51 | 4.51 | ||||||||||
Call Options [Member] | ||||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||||
Notional amount | $ 1,000 | R$ 6.7 | ||||||||||
Average strike price | Number | 6.78 | 6.78 | ||||||||||
Future Exports [Member] | ||||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||||
Designated | $ 400 | R$ 2.0 | $ 500 | R$ 2.6 | $ 400 | R$ 2.1 | $ 600 | R$ 3.1 | $ 2,200 | R$ 11.5 | $ 1,200 | R$ 6.5 |
Hedge accounting discontinued | $ 362 | R$ 1.9 | ||||||||||
Future Exports One [Member] | ||||||||||||
IfrsStatementLineItems [Line Items] | ||||||||||||
Designated | $ 200 | R$ 1.0 |
Taxes payable (Details)
Taxes payable (Details) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Total | R$ 593 | R$ 789 |
Current liabilities | 387 | 491 |
Non-current liabilities | 206 | 298 |
Other Countries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 593 | 789 |
IPI [Member] | Country Of Brazil [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 66 | 74 |
ICMS [Member] | Country Of Brazil [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 227 | 218 |
PIS and Cofins [Member] | Country Of Brazil [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 29 | 20 |
Other [Member] | Country Of Brazil [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 9 | 105 |
Value Added Tax [Member] | Other Countries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 119 | 150 |
Tax On Financial Income [Member] | Other Countries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | R$ 143 | R$ 222 |
Income taxes (Details)
Income taxes (Details) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Notes and other explanatory information [abstract] | |||
(Loss) profit before income taxes | R$ 6192 | R$ 47 | R$ 17961 |
Nominal income taxes computed based on Brazilian statutory corporate tax rates (34%) | 2,105 | (16) | (6,107) |
Permanent adjustments to the Income taxes calculation basis | |||
Results from equity-accounted investees | 2 | 12 | 2 |
Thin capitalization | (613) | (360) | (7) |
Tax benefits | 145 | 137 | |
Reduction of tax loss | (892) | ||
Different jurisdictional taxes rates for companies abroad and tax basis | 770 | 1,030 | 1,980 |
Taxes on dividends distribution | (836) | (455) | (265) |
Exclusion of inflation adjustement by Selic on undue tax payments from taxable income | 38 | 39 | 501 |
Other permanent adjustments | (309) | (226) | (241) |
Effect of income taxes on results of operations | 1,302 | (868) | (3,999) |
Current income taxes | |||
Current year | (191) | (1,004) | (3,834) |
Total current expenses | (191) | (1,004) | (3,834) |
Deferred income taxes | |||
Origination and reversal of temporary differences | 6 | 1,192 | (246) |
Tax losses | 1,487 | (1,056) | 81 |
Total deferred income taxes | 1,493 | 136 | (165) |
Total | R$ 1302 | R$ 868 | R$ 3999 |
Effective rate | 21% | 1,846.80% | 22.30% |
Income taxes (Details 1)
Income taxes (Details 1) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Non-current assets | R$ 6443 | R$ 6359 | R$ 8257 |
Non-current liabilities | 1,677 | 1,153 | R$ 1407 |
Asset [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 12,321 | 12,564 | |
Impact on the P&L | 104 | (243) | |
Other comprehensive income | 8 | ||
Ending balance | 12,433 | 12,321 | |
Liabilities [member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 7,115 | 5,714 | |
Impact on the P&L | (1,389) | (379) | |
Other comprehensive income | 1,941 | 1,780 | |
Ending balance | 7,667 | 7,115 | |
Net [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 5,206 | 6,850 | |
Impact on the P&L | 1,493 | 136 | |
Other comprehensive income | (1,933) | (1,780) | |
Ending balance | 4,766 | 5,206 | |
Tax Losses I R And Negative Base C S L [Member] | Asset [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 2,398 | 3,355 | |
Impact on the P&L | 1,487 | (957) | |
Ending balance | 3,885 | 2,398 | |
Exchange Variations [Member] | Asset [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 3,343 | 4,280 | |
Impact on the P&L | (1,274) | (937) | |
Ending balance | 2,069 | 3,343 | |
Temporary Adjustment [Member] | Asset [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 4,566 | 4,782 | |
Impact on the P&L | (180) | (216) | |
Other comprehensive income | 8 | ||
Ending balance | 4,394 | 4,566 | |
Temporary Adjustment [Member] | Liabilities Category [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 420 | 89 | |
Impact on the P&L | 315 | 331 | |
Other comprehensive income | 16 | ||
Ending balance | 751 | 420 | |
Lease [Member] | Asset [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 1,197 | ||
Impact on the P&L | 429 | 1,197 | |
Ending balance | 1,626 | 1,197 | |
Tax Credits [Member] | Asset [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 698 | ||
Impact on the P&L | 83 | 698 | |
Ending balance | 781 | 698 | |
Other [Member] | Asset [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 119 | 147 | |
Impact on the P&L | (441) | (28) | |
Ending balance | (322) | 119 | |
Other [Member] | Liabilities Category [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 6 | 5 | |
Impact on the P&L | 29 | (173) | |
Other comprehensive income | 13 | 174 | |
Ending balance | 48 | 6 | |
Amortization Of Goodwill Based On Future Profitability [Member] | Liabilities Category [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 722 | 725 | |
Impact on the P&L | (1) | (3) | |
Ending balance | 721 | 722 | |
Tax Depreciation [Member] | Liabilities Category [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 4,052 | 4,177 | |
Impact on the P&L | 4 | (125) | |
Ending balance | 4,056 | 4,052 | |
PIS/COFINS Credit - Exclusion Of ICMS From The Calculation Basis [Member] | Liabilities Category [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 189 | 331 | |
Impact on the P&L | (142) | ||
Ending balance | 189 | 189 | |
Right Of Use Of Assets [Member] | Liabilities Category [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 1,116 | ||
Impact on the P&L | 477 | 1,116 | |
Ending balance | 1,593 | 1,116 | |
Present Value Adjustment And Amortized Cost [Member] | Liabilities Category [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 424 | 155 | |
Impact on the P&L | (228) | 212 | |
Other comprehensive income | (2) | 57 | |
Ending balance | 194 | 424 | |
Hedge Accounting [Member] | Liabilities Category [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | |||
Impact on the P&L | (1,948) | (1,549) | |
Other comprehensive income | 1,948 | 1,549 | |
Ending balance | |||
Amortization Of Fair Value Adjustments On The Assets From The Acquisiton Of Braskem Qpar [Member] | Liabilities Category [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 186 | 232 | |
Impact on the P&L | (37) | (46) | |
Other comprehensive income | (34) | ||
Ending balance | R$ 115 | R$ 186 |
Income taxes (Details 2)
Income taxes (Details 2) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | R$ 6443 | R$ 6359 |
Deferred tax assets and deferred tax liabilities | 4,766 | 5,206 |
Deferred tax liabilities | (1,677) | (1,153) |
Braskem [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 9,590 | 9,112 |
Deferred tax liabilities | (3,744) | (3,342) |
Deferred tax assets and deferred tax liabilities | 5,846 | 5,770 |
Braskem Argentina [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 21 | |
Deferred tax liabilities | (6) | (16) |
Deferred tax assets and deferred tax liabilities | (6) | 5 |
Braskem America [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 390 | 525 |
Deferred tax liabilities | (1,364) | (1,662) |
Deferred tax assets and deferred tax liabilities | (974) | (1,137) |
Braskem Alemanha [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 24 | 23 |
Deferred tax liabilities | (15) | |
Deferred tax assets and deferred tax liabilities | 9 | 23 |
Braskem Idesa [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 1,840 | 2,080 |
Deferred tax liabilities | (2,531) | (1,840) |
Deferred tax assets and deferred tax liabilities | (691) | 240 |
Braskem Country Of Mexico [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 333 | 86 |
Deferred tax assets and deferred tax liabilities | 333 | 86 |
B And T C [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 4 | |
Deferred tax liabilities | (8) | (17) |
Deferred tax assets and deferred tax liabilities | (4) | (17) |
Cetrel [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 34 | 39 |
Deferred tax liabilities | (4) | (5) |
Deferred tax assets and deferred tax liabilities | 30 | 34 |
D A C [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 25 | 33 |
Deferred tax liabilities | (2) | (2) |
Deferred tax assets and deferred tax liabilities | 23 | 31 |
Terminal Quimica [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 13 | 2 |
Deferred tax assets and deferred tax liabilities | 13 | 2 |
Voqen [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax liabilities | (2) | |
Deferred tax assets and deferred tax liabilities | (2) | |
Wise [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 30 | |
Deferred tax liabilities | (3) | |
Deferred tax assets and deferred tax liabilities | 27 | |
Total [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Deferred tax assets | 12,433 | 12,321 |
Deferred tax liabilities | (7,667) | (7,115) |
Deferred tax assets and deferred tax liabilities | R$ 4766 | R$ 5206 |
Income taxes (Details Narrative
Income taxes (Details Narrative) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Notes and other explanatory information [abstract] | ||
Income taxes current | R$ 428 | R$ 392 |
Income taxes non-current | R$ 292 | 253 |
Deferred tax credits | R$ 892 |
Sundry provisions (Details)
Sundry provisions (Details) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Total | R$ 2225 | R$ 2280 |
Sundry provisions, current | 1,282 | 923 |
Sundry provisions, non current | 943 | 1,357 |
Leniency Agreement [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 1,016 | 903 |
Recovery Of Environmental Damage [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 928 | 1,120 |
Provision For Customers Rebates [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 161 | 127 |
Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | R$ 120 | R$ 130 |
Sundry provisions (Details 1)
Sundry provisions (Details 1) - Leniency Agreements [Member] R$ in Millions | 12 Months Ended |
Dec. 31, 2023 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |
Settlement amount | R$ 3071 |
Federal Controller General And Attorney Generall Agreement [Member] | |
IfrsStatementLineItems [Line Items] | |
Settlement amount | 878 |
Department Of Justice [Member] | |
IfrsStatementLineItems [Line Items] | |
Settlement amount | 297 |
Swiss Office [Member] | |
IfrsStatementLineItems [Line Items] | |
Settlement amount | 407 |
Federal Prosecution Office [Member] | |
IfrsStatementLineItems [Line Items] | |
Settlement amount | 1,282 |
Securities And Exchange Commission [Member] | |
IfrsStatementLineItems [Line Items] | |
Settlement amount | R$ 206 |
Sundry provisions (Details 2)
Sundry provisions (Details 2) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Provisions | R$ 2280 | R$ 2412 |
New provisions, other provisions | 384 | 601 |
[custom:ProvisionUsedOtherProvision] | (439) | (733) |
Provisions | 2,225 | 2,280 |
Leniency Agreement [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 903 | 1,123 |
New provisions, other provisions | 113 | 98 |
[custom:ProvisionUsedOtherProvision] | (318) | |
Provisions | 1,016 | 903 |
Recovery Of Environmental Damage [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 1,120 | 1,035 |
New provisions, other provisions | 108 | 299 |
[custom:ProvisionUsedOtherProvision] | (300) | (214) |
Provisions | 928 | 1,120 |
Rebate [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 127 | 101 |
New provisions, other provisions | 155 | 184 |
[custom:ProvisionUsedOtherProvision] | (121) | (158) |
Provisions | 161 | 127 |
Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 130 | 153 |
New provisions, other provisions | 8 | 20 |
[custom:ProvisionUsedOtherProvision] | (18) | (43) |
Provisions | R$ 120 | R$ 130 |
Sundry provisions (Details Narr
Sundry provisions (Details Narrative) R$ in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | |||
May 31, 2019 BRL (R$) | Dec. 31, 2016 USD ($) | Dec. 31, 2016 BRL (R$) | Dec. 31, 2023 BRL (R$) | Dec. 31, 2022 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |||||
Additional disbursement | R$ 410 | ||||
Outstanding amount | R$ 1016 | ||||
Current liabilities | 840 | ||||
Noncurrent liabilities | 176 | ||||
Current liabilities | 24,494 | R$ 24186 | |||
Non-current liabilities | 63,968 | 57,755 | |||
Provision For Environmental Damages [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Current liabilities | 99 | 180 | |||
Non-current liabilities | 829 | R$ 940 | |||
Leniency Agreements [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Settlement liabilities | R$ 3071 | ||||
Federal Prosecution Office And U S Swiss Authorities [Member] | Leniency Agreements [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Settlement liabilities | R$ 3100 | ||||
Federal Prosecution Office And U S Swiss Authorities [Member] | Leniency Agreements [Member] | United States of America, Dollars | |||||
IfrsStatementLineItems [Line Items] | |||||
Settlement liabilities | $ | $ 957 |
Provisions for legal proceedi_3
Provisions for legal proceedings and contingent liabilities (Details) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
[custom:LongtermLegalProceedingsProvision1-0] | R$ 1095 | R$ 1171 |
Labor Claims [Member] | ||
IfrsStatementLineItems [Line Items] | ||
[custom:LongtermLegalProceedingsProvision1-0] | 186 | 212 |
IR and CSL [Member] | ||
IfrsStatementLineItems [Line Items] | ||
[custom:LongtermLegalProceedingsProvision1-0] | 51 | 52 |
PIS and Cofins [Member] | ||
IfrsStatementLineItems [Line Items] | ||
[custom:LongtermLegalProceedingsProvision1-0] | 241 | 311 |
ICMS [Member] | ||
IfrsStatementLineItems [Line Items] | ||
[custom:LongtermLegalProceedingsProvision1-0] | 366 | 349 |
Other Tax Claims [Member] | ||
IfrsStatementLineItems [Line Items] | ||
[custom:LongtermLegalProceedingsProvision1-0] | 19 | 24 |
Tax Claims [Member] | ||
IfrsStatementLineItems [Line Items] | ||
[custom:LongtermLegalProceedingsProvision1-0] | 677 | 736 |
Corporate Claims [Member] | ||
IfrsStatementLineItems [Line Items] | ||
[custom:LongtermLegalProceedingsProvision1-0] | 111 | 103 |
Civil Claims And Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
[custom:LongtermLegalProceedingsProvision1-0] | R$ 121 | R$ 120 |
Provisions for legal proceedi_4
Provisions for legal proceedings and contingent liabilities (Details 1) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Tax Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | R$ 677 | R$ 736 |
Tax Lawsuits [Member] | ICMS tax On Interstate Purchases [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of tax lawsuits | 1) ICMS tax on interstate purchases: Charge of tax on undue use of credits arising from the acquisition of products for exports, plus fine due to lack of presentation of tax documents requested. The lawsuits are under legal phase and the Company pledged performance bond at their full amount. | |
Provisions | R$ 346 | 329 |
Tax Lawsuits [Member] | Non-Cumulative PIS and COFINS Taxes [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of tax lawsuits | 2) Non-cumulative PIS and COFINS taxes: Charges of amounts due to offset of non-cumulative PIS and COFINS tax credits, related to the periods from 2005 to 2010 and from 2012 to 2018, that were not approved by the Federal Revenue Service of Brazil. The lawsuits refer to offsetting statements in amounts that exceeded those declared, freight expenses, acquisition of property, plant and equipment and revenues incorrectly classified. They are under administrative phase and the amount is fully provisioned. Part of debits were included in the Tax Litigation Reduction Program, leading to a reduction of R$80. | |
Provisions | R$ 132 | 212 |
Tax Lawsuits [Member] | PIS and COFINS Taxes [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of tax lawsuits | 3) PIS and COFINS taxes: Charge of debits related to various periods, between 1999 and 2002, arising from insufficient payments of contributions and offset considered undue by the Tax Authority using credit resulting from the addition of 1% to the COFINS rate and PIS credits under Decree-Laws 2,445 and 2,449, whose period of use had allegedly expired. The lawsuits are under legal phase and the Company pledged bank guarantee and performance bonds at their full amount. | |
Provisions | R$ 79 | 70 |
Tax Lawsuits [Member] | Sundry Tax Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of tax lawsuits | 4) Sundry tax lawsuits | |
Provisions | R$ 120 | 125 |
Corporate Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | 111 | 103 |
Corporate Lawsuits [Member] | Triken S A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | R$ 88 | 82 |
Description of corporate lawsuits | 1) The Company is party to writ of debt filed against it in 1991, currently under appellate phase. Triken S.A. (“Triken”), merged into Braskem, received unfavorable decision to distribute remaining profits to the plaintiffs (preferred shareholders) that were non-controlling shareholders. The amount related to the lawsuit is fully provisioned by the Company. | |
Corporate Lawsuits [Member] | Sundry Corporate Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions | R$ 23 | R$ 21 |
Description of corporate lawsuits | 2) Sundry corporate lawsuits |
Provisions for legal proceedi_5
Provisions for legal proceedings and contingent liabilities (Details 2) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Beginning balance | R$ 1171 | R$ 1154 |
Additions, monetary adjustments and exchange variation | 268 | 274 |
Payments | (73) | (71) |
Reversals | (271) | (188) |
Ending balance | 1,095 | 1,171 |
Labor Claims [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 212 | 269 |
Additions, monetary adjustments and exchange variation | 71 | 129 |
Payments | (37) | (59) |
Reversals | (60) | (127) |
Ending balance | 186 | 212 |
Tax Claims [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 736 | 715 |
Additions, monetary adjustments and exchange variation | 143 | 60 |
Payments | (10) | (9) |
Reversals | (191) | (32) |
Ending balance | 677 | 736 |
Corporate Claim [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 103 | 95 |
Additions, monetary adjustments and exchange variation | 8 | 9 |
Payments | (1) | |
Ending balance | 111 | 103 |
Civil Claims And Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 120 | 75 |
Additions, monetary adjustments and exchange variation | 46 | 76 |
Payments | (25) | (2) |
Reversals | (20) | (29) |
Ending balance | R$ 121 | R$ 120 |
Provisions for legal proceedi_6
Provisions for legal proceedings and contingent liabilities (Details 3) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Contingent liabilities possibility of loss | R$ 38377 | R$ 26689 |
Tax Claims [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contingent liabilities possibility of loss | 26,216 | 18,271 |
Civil Claims Alagoas [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contingent liabilities possibility of loss | 8,971 | 5,489 |
Civil Claims Other [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contingent liabilities possibility of loss | 740 | 786 |
Social Security Claims [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contingent liabilities possibility of loss | 824 | 516 |
Environmental Claims [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contingent liabilities possibility of loss | 689 | 640 |
Labor Claims [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contingent liabilities possibility of loss | 513 | 606 |
Other Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Contingent liabilities possibility of loss | R$ 424 | R$ 381 |
Provisions for legal proceedi_7
Provisions for legal proceedings and contingent liabilities (Details 4) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Federal Government Tax Lawsuits [Member] | Income Taxes [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxing Entity: Federal Government | 1) Income taxes tax: Tax assessments related to calendar years 2015, 2016, 2018 and 2019, due to non-recognition of application of Agreement to avoid double taxation, signed between Brazil and Netherlands, which establishes that profits from Dutch companies are not taxable in Brazil at the end of every year. The notification for the calendar years 2018 and 2019, received in 2023, also involved non-deductibility of interest rates due to a different understanding regarding the sub-capitalization limit and its tax effects. The inflation-adjusted amount of uncertain tax treatment includes periods mentioned or not mentioned in tax assessments. In view of the calculation of tax losses by the Company in calendar years 2022 and 2023, the amounts related to these periods were calculated considering only the principal amount, excluding fines and interest rates. The amount related to the calendar year 2017 was excluded from this lawsuit due to its time-barring. In addition to including the amount related to calendar year 2023, the lawsuit also considers the amount related to calendar year 2020, due to the issue of financial statements of Dutch entities under local GAAP. The lawsuits are under administrative phase. | |
Estimated breakdown of contingent liabilities | R$ 18552 | R$ 10665 |
Federal Government Tax Lawsuits [Member] | Non-cumulative PIS And COFINS Taxes [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxing Entity: Federal Government | 2) Non-cumulative PIS and COFINS taxes: Charge related to calendar years 2004 to 2018, arising from use of credits on acquisition of goods and services consumed in the production process. The lawsuits are under administrative and legal phase, and the Company pledged performance bonds and deposits at their full amount. | |
Estimated breakdown of contingent liabilities | R$ 1507 | 1,400 |
Federal Government Tax Lawsuits [Member] | Income Taxes 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxing Entity: Federal Government | 3) Income taxes tax: Tax assessments arising from deducted amortization charges, between 2007 and 2013, from goodwill originated from equity interests acquired during 2002. The lawsuits are under administrative and legal phases, and the Company pledged performance bonds at their full amount. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$150. | |
Estimated breakdown of contingent liabilities | R$ 1027 | 1,100 |
Federal Government Tax Lawsuits [Member] | Income Taxes 2 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxing Entity: Federal Government | 4) Income taxes tax: Tax assessments related to calendar years 2012 and 2015, arising from disallowances of exchange variation expenses with naphtha import transactions, incurred after due date of commercial invoices. The lawsuits also address inflation adjustment in income tax losses and social contribution tax loss carryforwards and partial disallowance of cost of naphtha imported from subsidiary abroad. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$198. The lawsuits are under administrative phase. | |
Estimated breakdown of contingent liabilities | R$ 1000 | 1,200 |
Federal Government Tax Lawsuits [Member] | Income Taxes 3 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxing Entity: Federal Government | 5) IR/CSL tax: Tax assessments related to the offset of credits from income tax losses and social contribution tax loss carryforward with IR and CSL debits, in merger events carried out in November 2007 and August 2013, exceeding the limit of 30%. The lawsuits are under legal phase, and the Company pledged performance bonds at their full amount. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$150. | |
Estimated breakdown of contingent liabilities | R$ 346 | 462 |
Federal Government Tax Lawsuits [Member] | Income Taxes Rate [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxing Entity: Federal Government | 6) Income taxes rate: Tax assessments arising from deducted amortization charges, between 2020 and 2021, from goodwill originated from equity interests acquired during 2012, by Cetrel and DAC. The lawsuits are pending in the administrative sphere in higher courts. | |
Estimated breakdown of contingent liabilities | R$ 212 | 195 |
Federal Government Tax Lawsuits [Member] | Income Taxes Rate 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxing Entity: Federal Government | 7) Income taxes rate: Charges due to the non-approval of offsets made using credits arising from negative balance. The lawsuits are under administrative and legal phases, and the Company pledged performance bonds at their full amount. | |
Estimated breakdown of contingent liabilities | R$ 185 | 176 |
Federal Government Tax Lawsuits [Member] | Social Security Contribution [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxing Entity: Federal Government | 8) Social security contributions: Charge of additional contribution for Occupational Environmental Risk to fund the special retirement plan due to the alleged exposure of workers to hazardous agents from January 2016 to July 2018, from November 2000 to January 2001 and from November 2001 to June 2002. The lawsuits are under administrative and legal phases, and the Company pledged performance bonds at their full amount. | |
Estimated breakdown of contingent liabilities | R$ 183 | 203 |
Federal Government Tax Lawsuits [Member] | PIS and COFINS Taxes [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxing Entity: Federal Government | 9) PIS and COFINS taxes: Charges arising from alleged undue offsets using credits from other federal taxes. The lawsuits address credits arising from: i) prepayments of IR tax, ii) FINSOCIAL and COFINS taxes, iii) tax on net profit, iv) PIS-Decree-Laws 2,445 and 2,449. The lawsuits are under legal phase, and the Company pledged bank guarantees and performance bonds at their full amount. | |
Estimated breakdown of contingent liabilities | R$ 142 | 136 |
Federal Government Tax Lawsuits [Member] | Income Taxes Rate 2 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxing Entity: Federal Government | 10) Income taxes rate: Tax assessment arising from disallowance of advertising and commission expenses, paid by Braskem and Braskem Inc., and the lack of payment of withholding tax on them. The lawsuit is under administrative phase. The amount related to fine was reclassified to remote loss, in compliance with Article 8 of Federal Law 14,689/23, leading to a reduction of R$28. | |
Estimated breakdown of contingent liabilities | R$ 138 | 153 |
Federal Government Tax Lawsuits [Member] | PIS and COFINS Taxes 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Taxing Entity: Federal Government | 11) PIS and COFINS taxes: Charges due to the non-approval of offsets using credits from Cide-Combustíveis, as authorized by Federal Law 10,336/2001. The lawsuits are under legal phase, and the Company pledged performance bonds at their full amount. | |
Estimated breakdown of contingent liabilities | R$ 128 | 123 |
State Government Of Alagoas Tax Lawsuits [Member] | ICMS Tax [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 698 | 639 |
Taxing Entity: State Government of Alagoas | 12) ICMS tax: Tax assessments related to calendar years 2015 to 2019, due to lack of ICMS reversal on output with tax deferral. The lawsuits are under administrative phase. | |
State Governments Of Sao Paulo Tax Lawsuits [Member] | ICMS Tax 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 623 | 768 |
Taxing Entity: State Governments of Sao Paulo, Rio de Janeiro, Bahia, Pernambuco, Rio Grande do Sul and Alagoas | 13) ICMS tax: Charges of tax underpayments. The lawsuits refer to (i) use of tax credits to acquire property, plant and equipment,goods considered as for use and consumption and products subject to tax replacement; (ii) transfers of finished products at amount below the production cost; (iii) non-payment of tax due to: input or output omissions; charges related to electricity operations and sale of products subject to tax replacement; (iv) lack of evidence of export of goods; (v) fines for lack of registration of invoices. The lawsuits are under administrative and legal phases, and the Company pledged bank guarantees, performance bonds and judicial deposits at their full amount. Part of the amount related to the use and consumption matter was reclassified to remote loss, in accordance with decision 1.775.781/SP issued by EAREsp, leading to a reduction of around R$147. | |
State Governments Of Sao Paulo Tax Lawsuits [Member] | Sundry Tax Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 1477 | 1,051 |
Taxing Entity: State Governments of Sao Paulo, Rio de Janeiro, Bahia, Pernambuco, Rio Grande do Sul and Alagoas | 14) Sundry tax lawsuits | |
Tax Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 26216 | 18,271 |
Civil Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | 9,711 | 6,275 |
Civil Lawsuits [Member] | Lawsuit [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 340 | 302 |
Description of civil lawsuits | 1) Lawsuit filed by Resibril, former reseller of solvents, claiming alleged breach of a tacit distribution agreement. The lawsuit is awaiting judgment. | |
Civil Lawsuits [Member] | Civil Lawsuits Alagoas [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 8971 | 5,489 |
Description of civil lawsuits | 2) Civil lawsuits - Alagoas (Note 24.1) | |
Civil Lawsuits [Member] | Sundry Civil Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 400 | 484 |
Description of civil lawsuits | 3) Sundry civil lawsuits | |
Social Security Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 824 | 516 |
Social Security Lawsuits [Member] | Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 668 | 379 |
Description of social security lawsuits | 1) Lawsuits over withdrawal of sponsorship of Petros plan. Currently, the portfolio is composed of 743 lawsuits filed by former team members of Braskem or merged companies, beneficiaries of Petros plans (Copesul, Copene and PQU), related to sundry matters arising from withdrawal of sponsorship of the plan, whose claims include: Difference of Individual Withdrawal Fund, additional of 90%, and Objection to legality of Withdrawal of Sponsorship. The increase in the amount involved during the year is mainly due to (i) the fresh lawsuits resulting from Petros' notice requesting reimbursement of amounts from Braskem as per the withdrawal agreement, and (ii) a valuation of lawsuit involving a significant amount. | |
Social Security Lawsuits [Member] | Sundry Social Security Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 156 | 137 |
Description of social security lawsuits | 2) Social security lawsuits | |
Environmental Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 689 | 640 |
Environmental Lawsuits [Member] | Public Interest Civil Action [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 225 | 201 |
Description of environmental lawsuits | 1) Public-Interest Civil Action (Hashimoto) filed in June 2018 by the São Paulo State Prosecution Office against the Company and other firms that operate in the Capuava Petrochemical Complex, whose claims include the reparation and/or remediation of environmental damages . After Braskem filed its defense in December 2020, there were no changes, and the lawsuit remains awaiting expert evidence. | |
Environmental Lawsuits [Member] | Public Interest Civil Action 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 397 | 363 |
Description of environmental lawsuits | 2) Public-Interest Civil Action filed in September 2011 by the Local Government of Ulianópolis, Pará, against Braskem and other companies, whose claims include the reparation and/or remediation of environmental damages allegedly resulting from the improper delivery of waste. The companies filed defense, however, a decision was rendered determining the temporary dismissal of the action for one year. | |
Environmental Lawsuits [Member] | Sundry Environmental Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 67 | 76 |
Description of environmental lawsuits | 3) Sundry environmental lawsuits | |
Other Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 424 | 381 |
Other Lawsuits [Member] | Polialden Petroquimica S A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 287 | 262 |
Description of other lawsuits | 1) The Company is party to writ of debt filed against it in 1988, currently under liquidation of award. Polialden Petroquímica S.A. (“Polialden”), merged into Braskem, received unfavorable decision to distribute remaining profits to the plaintiffs (preferred shareholders) that were non-controlling shareholders. The lawsuit awaits accounting evidence of amounts due. | |
Other Lawsuits [Member] | Sundry Other Lawsuits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimated breakdown of contingent liabilities | R$ 137 | R$ 119 |
Description of other lawsuits | 2) Sundry other lawsuits |
Provisions for legal proceedi_8
Provisions for legal proceedings and contingent liabilities (Details Narrative) R$ in Millions | Aug. 31, 2023 BRL (R$) |
Provisions For Legal Proceedings And Contingent Liabilities | |
Contract in amount | R$ 127 |
Loans amount | R$ 41 |
Geological event - Alagoas (Det
Geological event - Alagoas (Details) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Total | R$ 1095 | R$ 1171 |
Alagoas [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Balance at beginning | 6,627 | 7,661 |
Additions | 2,307 | 1,520 |
Payments | (3,826) | (2,743) |
Realization of present value adjustment | 132 | 188 |
Balance at ending | 5,240 | 6,627 |
Current liability | 2,759 | 4,248 |
Non-current liability | 2,481 | 2,379 |
Total | R$ 5240 | R$ 6627 |
Geological event - Alagoas (D_2
Geological event - Alagoas (Details Narrative) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Apr. 30, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Description of reparation for social-environmental | allocating R$1,580 for the adoption of actions and measures in vacated areas, urban mobility and social compensation actions, of which R$300 going to indemnification for social damages and collective pain and suffering and possible contingencies related to the actions in the vacated areas and urban mobility actions. On June 30, 2022, the Company filed with MPF the social diagnosis report and the respective social action plan that will support the definition of measures to be adopted. Until December 31, 2023, 24 actions have already been approved. The current provision amount is R$1,369 (2022: R$1,567). | ||
Amount assigned to lawsuit | R$ 1000000 | ||
Initial amount | R$ 3100000 | ||
Pledging amount | 20,500,000 | ||
Action amount | R$ 27600000 | ||
Lawsuit compensation | 1,700,000 | ||
Action amount settlement | 1,900,000 | ||
Homogeneous moral damages suffered, in the amount | 50 | ||
Homogeneous loss of profits | 132 | ||
Compensation for collective moral damages | 100 | ||
Compensation for collective material damages | R$ 750 | ||
Attorney fees | 20% | ||
Claims amount | R$ 1900000 | ||
Likelihood loss | 1,600,000 | ||
Likelihood possible claims | 321,000 | ||
Payment for fishermen | 1,946,000 | ||
Updated value of lawsuit | 1,460,000 | R$ 1430000 | |
Amount pledged for lawsuit | R$ 1400000 | ||
Description of individual actions | Braskem was defendant in several other actions, that, in aggregate, involve the amount of R$1.4 billion (2022: R$1 billion), filed in Brazil and abroad, seeking the payment of indemnifications directly or indirectly related to the geological event in Maceió. | ||
Technical Cooperation Agreement [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Provision accrued amount | R$ 1583000 | 1,367,000 | |
Description of reparation for residents | In June 2019, the Company was informed of the Public-Interest Civil Action claiming the payment of indemnification for damages caused to the buildings and the residents of areas affected in the Pinheiro district and surrounding areas, in the total minimum amount of R$6.7 billion, with initial request for provisional measure to freeze the Company’s financial and other assets in the same amount. Successive orders to freeze funds resulted in the court blocking of R$3.7 billion in assets in 2019, and the unfreezing occurred in January 2020. Once the case was sent to the Federal Courts, the Federal Prosecution Office started to participate in the action. | ||
Alagoas State Federal Prosecution Office [Member] | Technical Cooperation Agreement [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net of adjustment to present value | R$ 1353000 | R$ 2087000 |
Benefits offered to employees_2
Benefits offered to employees (Details) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | R$ 611 | R$ 574 | R$ 540 |
Health Care Benefits [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 272 | 244 | 236 |
Private Pension Benefits [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 118 | 128 | 137 |
Transport Benefits [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 91 | 86 | 77 |
Meals Benefits [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 70 | 63 | 51 |
Life Insurance Benefits [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 12 | 10 | 10 |
Training Benefits [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 22 | 27 | 16 |
Other Benefits [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | R$ 26 | R$ 16 | R$ 13 |
Benefits offered to employees_3
Benefits offered to employees (Details 1) | 12 Months Ended | ||
Dec. 31, 2023 $ / shares shares | Dec. 31, 2023 R$ / shares shares | Dec. 31, 2022 shares | |
Plan 2020 [Member] | Settlement Methodology Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2020 Plan | 2020 Plan | |
Date of grant | Apr. 01, 2020 | Apr. 01, 2020 | |
End of grace period | 04/01/23 | 04/01/23 | |
Settlement Method | Shares | Shares | |
Granted quantities, shares | 1,007,883 | ||
Shares canceled | (5,683) | (5,683) | (72,743) |
Shares exercised | (927,084) | (927,084) | (2,373) |
Quantity of acquisition, shares | 932,767 | ||
Plan 2020 [Member] | Settlement Methodology Cash [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2020 Plan | 2020 Plan | |
Date of grant | Apr. 01, 2020 | Apr. 01, 2020 | |
End of grace period | 04/01/23 | 04/01/23 | |
Settlement Method | Cash | Cash | |
Granted quantities, shares | 314,333 | ||
Shares canceled | (4,887) | (4,887) | (47,943) |
Shares exercised | (261,503) | (261,503) | |
Quantity of acquisition, shares | 266,390 | ||
Plan 2021 [Member] | Settlement Methodology Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2021 Plan | 2021 Plan | |
Date of grant | May 10, 2021 | May 10, 2021 | |
End of grace period | 05/10/24 | 05/10/24 | |
Settlement Method | Shares | Shares | |
Granted quantities, shares | 557,888 | ||
Shares canceled | (31,751) | (31,751) | (9,598) |
Quantity of acquisition, shares | 516,539 | 516,539 | 548,290 |
Fair value of the share | R$ / shares | R$ 51.39 | ||
Plan 2021 [Member] | Settlement Methodology Cash [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2021 Plan | 2021 Plan | |
Date of grant | May 10, 2021 | May 10, 2021 | |
End of grace period | 05/10/24 | 05/10/24 | |
Settlement Method | Cash | Cash | |
Granted quantities, shares | 144,779 | ||
Shares canceled | (3,879) | (3,879) | |
Quantity of acquisition, shares | 140,900 | 140,900 | 144,779 |
Fair value of the share, value | $ / shares | $ 9.67 | ||
Plan 2022 [Member] | Settlement Methodology Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2022 Plan | 2022 Plan | |
Date of grant | May 17, 2022 | May 17, 2022 | |
End of grace period | 05/17/25 | 05/17/25 | |
Settlement Method | Shares | Shares | |
Granted quantities, shares | 537,870 | ||
Shares canceled | (32,462) | (32,462) | |
Quantity of acquisition, shares | 505,408 | 505,408 | 537,870 |
Fair value of the share | R$ / shares | R$ 44.15 | ||
Plan 2022 [Member] | Settlement Methodology Cash [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2022 Plan | 2022 Plan | |
Date of grant | May 17, 2022 | May 17, 2022 | |
Settlement Method | Cash | Cash | |
Granted quantities, shares | 132,902 | ||
Shares canceled | (1,115) | (1,115) | |
Quantity of acquisition, shares | 131,787 | 131,787 | 132,902 |
Fair value of the share, value | $ / shares | $ 9.67 | ||
Plan 2023 [Member] | Settlement Methodology Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2023 Plan | 2023 Plan | |
Date of grant | Sep. 06, 2023 | Sep. 06, 2023 | |
End of grace period | 09/06/26 | 09/06/26 | |
Settlement Method | Shares | Shares | |
Granted quantities, shares | 931,050 | 931,050 | |
Quantity of acquisition, shares | 931,050 | 931,050 | |
Fair value of the share | R$ / shares | R$ 23.02 | ||
Plan 2023 [Member] | Settlement Methodology Cash [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2023 Plan | 2023 Plan | |
Date of grant | Sep. 06, 2023 | Sep. 06, 2023 | |
End of grace period | 09/06/26 | 09/06/26 | |
Settlement Method | Cash | Cash | |
Granted quantities, shares | 213,400 | 213,400 | |
Shares canceled | (5,080) | (5,080) | |
Shares exercised | (114) | (114) | |
Quantity of acquisition, shares | 208,206 | 208,206 | |
Fair value of the share, value | $ / shares | $ 7.16 |
Benefits offered to employees_4
Benefits offered to employees (Details 2) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Total obligations | R$ 620 | R$ 551 |
Fair value of plan assets | (53) | (57) |
Consolidated net balance (non-current liabilities) | 567 | 494 |
Defined Benefit [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total obligations | 252 | 229 |
Defined Benefit [Member] | Novamont Braskem America [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total obligations | 57 | 58 |
Defined Benefit [Member] | Braskem Idesa [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total obligations | 30 | 23 |
Defined Benefit [Member] | Braskem Alemanha And Netherlands [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total obligations | 165 | 148 |
Health Care Plan [Member] | Bradesco Saude [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total obligations | R$ 368 | R$ 322 |
Benefits offered to employees_5
Benefits offered to employees (Details 3) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Balance at beginning of year | R$ 551 | R$ 608 | R$ 588 |
Current service cost | 13 | 18 | 19 |
Interest cost | 42 | 27 | 22 |
Benefits paid | (21) | (47) | (18) |
Actuarial losses (gain) | 27 | (18) | (10) |
Exchange variation | 8 | (37) | 7 |
Balance at the end of the year | 620 | 551 | 608 |
Health Insurance [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Balance at beginning of year | 322 | 245 | 218 |
Current service cost | 5 | 5 | 5 |
Interest cost | 29 | 20 | 16 |
Benefits paid | (15) | (13) | (11) |
Actuarial losses (gain) | 27 | 65 | 17 |
Balance at the end of the year | 368 | 322 | 245 |
Benefit Plans [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Balance at beginning of year | 229 | 363 | 370 |
Current service cost | 8 | 13 | 14 |
Interest cost | 13 | 7 | 6 |
Benefits paid | (6) | (34) | (7) |
Actuarial losses (gain) | (83) | (27) | |
Exchange variation | 8 | (37) | 7 |
Balance at the end of the year | R$ 252 | R$ 229 | R$ 363 |
Benefits offered to employees_6
Benefits offered to employees (Details 4) | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Health Cares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Discount rate | 5.35% | 5.97% | 5.33% |
Inflation rate | 3% | 3% | 3% |
Aging factor | 2.50% | 2.50% | 2.50% |
Medical inflation | 3.25% | 3.50% | 3.50% |
Duration | 12.10% | 12.83% | 14.16% |
Country Of America [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Discount rate | 5.20% | 5.10% | 2.90% |
Country Of Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Discount rate | 10.50% | 8% | 8% |
Inflation rate | 3.50% | 4% | 4% |
Rate of increase in future salary levels | 4.50% | 5% | 5% |
Country Of Germany [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Discount rate | 3.60% | 1.20% | 1.20% |
Inflation rate | 2% | 2% | 2% |
Rate of increase in future salary levels | 3.25% | 3% | 3% |
Rate of increase in future pension plan | 2.25% | 1.75% | 1.75% |
Country Of Netherlands [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Discount rate | 4.15% | 3.60% | 1.20% |
Inflation rate | 2% | 2% | 2% |
Rate of increase in future salary levels | 3.25% | 3.25% | 3% |
Rate of increase in future pension plan | 2.25% | 2.25% | 1.75% |
Benefits offered to employees_7
Benefits offered to employees (Details 5) | 12 Months Ended |
Dec. 31, 2023 | |
Actuarial assumption of discount rates [member] | Health Cares [Member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Premise increase | 38% |
Premise reduction | 47% |
Actuarial assumption of discount rates [member] | Country Of America [Member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Premise increase | (2.00%) |
Premise reduction | 9% |
Actuarial assumption of discount rates [member] | Idesa [Member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Premise increase | 2% |
Premise reduction | 2% |
Actuarial assumption of discount rates [member] | Country Of Germany [Member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 0.25% |
Premise increase | (6.00%) |
Premise reduction | 7% |
Actuarial assumption of discount rates [member] | Country Of Netherlands [Member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 0.25% |
Premise reduction | 4% |
Actuarial assumption of expected rates of pension increases [member] | Health Cares [Member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Premise increase | (9.00%) |
Premise reduction | 9% |
Actuarial assumption of expected rates of pension increases [member] | Country Of Germany [Member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 0.25% |
Premise increase | 5% |
Premise reduction | (5.00%) |
Actuarial assumption of expected rates of pension increases [member] | Country Of Netherlands [Member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 0.25% |
Actuarial assumption of life expectancy after retirement [member] | Health Cares [Member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Premise increase | 49% |
Premise reduction | (40.00%) |
Actuarial assumption of life expectancy after retirement [member] | Country Of Germany [Member] | |
IfrsStatementLineItems [Line Items] | |
Premise increase | 4% |
Premise reduction | (4.00%) |
Life expectancy | 1 year |
Actuarial assumption of life expectancy after retirement [member] | Country Of Netherlands [Member] | |
IfrsStatementLineItems [Line Items] | |
Life expectancy | 1 year |
Actuarial assumption of mortality rates [member] | Country Of America [Member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 10% |
Premise increase | 1% |
Premise reduction | 5% |
Benefits offered to employees_8
Benefits offered to employees (Details Narrative) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Notes and other explanatory information [abstract] | ||
Amount recorded in equity | R$ 37 | R$ 39 |
Equity (Details)
Equity (Details) | Dec. 31, 2023 shares |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 797,207,834 |
Percent of shares outstanding | 100% |
Treasury shares [member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 27 |
Authorised [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 1,152,937,970 |
Common shares member | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 451,668,652 |
Percent of shares outstanding | 100% |
Common shares member | Authorised [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 535,661,731 |
Class A Preference Shares [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 345,060,392 |
Percent of shares outstanding | 100% |
Class A Preference Shares [Member] | Treasury shares [member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 27 |
Class A Preference Shares [Member] | Authorised [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 616,682,421 |
Class B Preference Shares [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 478,790 |
Percent of shares outstanding | 100% |
Class B Preference Shares [Member] | Authorised [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 593,818 |
Novonor [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 305,517,121 |
Percent of shares outstanding | 38.32% |
Novonor [Member] | Common shares member | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 226,334,623 |
Percent of shares outstanding | 50.11% |
Novonor [Member] | Class A Preference Shares [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 79,182,498 |
Percent of shares outstanding | 22.95% |
Petrobras [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 288,188,691 |
Percent of shares outstanding | 36.15% |
Petrobras [Member] | Common shares member | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 212,426,952 |
Percent of shares outstanding | 47.03% |
Petrobras [Member] | Class A Preference Shares [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 75,761,739 |
Percent of shares outstanding | 21.96% |
ADR [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 62,466,606 |
Percent of shares outstanding | 7.84% |
ADR [Member] | Class A Preference Shares [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 62,466,606 |
Percent of shares outstanding | 18.10% |
Other [Member] | Common shares member | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 12,907,077 |
Percent of shares outstanding | 2.86% |
Other [Member] | Class A Preference Shares [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 127,649,522 |
Percent of shares outstanding | 36.99% |
Other [Member] | Class B Preference Shares [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 478,790 |
Percent of shares outstanding | 100% |
Other 2 [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 141,035,389 |
Percent of shares outstanding | 17.69% |
Total [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 797,207,807 |
Percent of shares outstanding | 100% |
Total [Member] | Common shares member | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 451,668,652 |
Percent of shares outstanding | 100% |
Total [Member] | Class A Preference Shares [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 345,060,365 |
Percent of shares outstanding | 100% |
Total [Member] | Class B Preference Shares [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares outstanding | 478,790 |
Percent of shares outstanding | 100% |
Equity (Details 1)
Equity (Details 1) - shares | Dec. 31, 2023 | Dec. 31, 2022 |
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 797,207,834 | 797,207,834 |
Treasury shares [member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 27 | 665,408 |
Changes in shares | (665,381) | |
Total [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 797,207,807 | 796,542,426 |
Changes in shares | 665,381 | |
Common shares member | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 451,668,652 | 451,668,652 |
Class A Preference Shares [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 345,060,365 | 344,394,984 |
Changes in shares | 665,381 | |
Class B Preference Shares [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 478,790 | 478,790 |
Equity (Details 2)
Equity (Details 2) R$ in Millions | 12 Months Ended |
Dec. 31, 2023 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |
Loss for the year of the Company's shareholders | R$ 4579 |
Realization of deemed cost of parent company, net of taxes15 | 15 |
Amounts posted directly to the Retained Earnings account | (4,564) |
Accumulated losses | (2,738) |
Profit Reserves [Member] | |
IfrsStatementLineItems [Line Items] | |
Accumulated losses | R$ 1826 |
Equity (Details Narrative)
Equity (Details Narrative) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
L T I Program 2020 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares granted | 665,381 | |
L T I Program 2019 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares granted | 236,758 |
Earnings (loss) per share (Deta
Earnings (loss) per share (Details) - R$ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Loss for the year attributed to Company's shareholders, Basic | (4,579) | (336) | 13,985 |
Loss for the year attributed to Company's shareholders, Diluted | (4,579) | (336) | 13,985 |
Distribution of priority dividends attributable to basic | 209 | ||
Distribution of priority dividends attributable to diluted | 209 | ||
Distribution of 6% ??ofunit price of common shares, basic | 274 | ||
Distribution of 6% ??ofunit price of common shares, diluted | 274 | ||
Distribution of excess profits, by class basic | 13,502 | ||
Distribution of excess profits, by class diluted | 13,502 | ||
Reconciliation of income available for distribution, by class (numerator), basic | (4,579) | (336) | 13,985 |
Reconciliation of income available for distribution, by class (numerator), diluted | (4,579) | (336) | 13,985 |
Weighted average number of shares, basic | 796,943,478 | 796,476,912 | 796,223,523 |
Weighted average shares diluted | 796,943,478 | 796,476,912 | 797,218,524 |
Preferred Shares [Member] | Weighted average [member] | |||
IfrsStatementLineItems [Line Items] | |||
Amount at beginning of the year | 344,394,984 | 344,158,226 | |
Incentive long term plan payments with treasury shares | 401,052 | 171,244 | |
Amount at the end of the year | 344,796,036 | 344,394,984 | 344,158,226 |
Amount at the end of the year | 344,329,470 | ||
Class A Preference Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Distribution of priority dividends attributable to basic | 209 | ||
Distribution of priority dividends attributable to diluted | 209 | ||
Distribution of excess profits, by class basic | 5,838 | ||
Distribution of excess profits, by class diluted | 5,838 | ||
Reconciliation of income available for distribution, by class (numerator), basic | (1,981) | (145) | 6,047 |
Reconciliation of income available for distribution, by class (numerator), diluted | (1,981) | (145) | 6,047 |
Weighted average number of shares, basic | 344,796,036 | 344,329,470 | 344,054,700 |
Weighted average shares diluted | 344,796,036 | 344,329,470 | 345,049,701 |
Profit (loss) per share, basic | R$ 5.7458 | R$ 0.4215 | R$ 17.5749 |
Profit (loss) per share, diluted | R$ 5.7458 | R$ 0.4215 | R$ 17.5242 |
Amount at beginning of the year | 344,394,984 | 344,158,226 | 343,824,794 |
Incentive long term plan payments with treasury shares | 665,381 | 236,758 | 322,712 |
Amount at the end of the year | 345,060,365 | 344,394,984 | 344,158,226 |
Amount at the end of the year | 344,394,984 | ||
Conversion shares class "B" into shares class "A" | 10,720 | ||
Class A Preference Shares [Member] | Weighted average [member] | |||
IfrsStatementLineItems [Line Items] | |||
Amount at beginning of the year | 344,054,700 | 343,824,794 | |
Incentive long term plan payments with treasury shares | 229,877 | ||
Amount at the end of the year | 344,054,700 | ||
Conversion shares class "B" into shares class "A" | 29 | ||
Class B Preference Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Distribution of priority dividends attributable to basic | 0 | ||
Distribution of priority dividends attributable to diluted | 0 | ||
Reconciliation of income available for distribution, by class (numerator), basic | (3) | ||
Reconciliation of income available for distribution, by class (numerator), diluted | (3) | ||
Weighted average number of shares, basic | 478,790 | 478,790 | 500,171 |
Weighted average shares diluted | 478,790 | 478,790 | 500,171 |
Profit (loss) per share, basic | R$ 5.7458 | R$ 0.4215 | R$ 0.5798 |
Profit (loss) per share, diluted | R$ 5.7458 | R$ 0.4215 | R$ 0.5798 |
Amount at beginning of the year | 478,790 | 500,230 | |
Amount at the end of the year | 478,790 | ||
Conversion shares class "B" into shares class "A" | (21,440) | ||
Class B Preference Shares [Member] | Weighted average [member] | |||
IfrsStatementLineItems [Line Items] | |||
Amount at beginning of the year | 500,171 | 500,230 | |
Amount at the end of the year | 500,171 | ||
Conversion shares class "B" into shares class "A" | (59) | ||
Common shares member | |||
IfrsStatementLineItems [Line Items] | |||
Distribution of excess profits, by class basic | 7,664 | ||
Distribution of excess profits, by class diluted | 7,664 | ||
Reconciliation of income available for distribution, by class (numerator), basic | (2,595) | (191) | 7,938 |
Reconciliation of income available for distribution, by class (numerator), diluted | (2,595) | (191) | 7,938 |
Weighted average number of shares, basic | 451,668,652 | 451,668,652 | 451,668,652 |
Weighted average shares diluted | 451,668,652 | 451,668,652 | 451,668,652 |
Profit (loss) per share, basic | R$ 5.7458 | R$ 0.4215 | R$ 17.5747 |
Profit (loss) per share, diluted | R$ 5.7458 | R$ 0.4215 | R$ 17.5747 |
Net revenue (Details)
Net revenue (Details) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Notes and other explanatory information [abstract] | |||
Net sales and services revenue | R$ 70569 | R$ 96519 | R$ 105625 |
Net revenue (Details 1)
Net revenue (Details 1) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 70569 | R$ 96519 | R$ 105625 |
Country Of Brazil [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 39,997 | 56,217 | 55,830 |
Country Of United States Of America [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 12,429 | 18,086 | 24,232 |
Country Of Mexico [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 3,329 | 4,469 | 5,506 |
Country Of Argentina [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,618 | 756 | 2,068 |
Country Of Germany [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,197 | 1,493 | 1,912 |
Country Of Switzerland [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,121 | 1,695 | 1,231 |
Country Of Italy [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,061 | 817 | 1,304 |
Country Of Chile [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,039 | 2,093 | 1,230 |
Country Of Netherlands [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 859 | 173 | 643 |
Country Of Luxembourg [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 755 | 871 | 988 |
Country Of Singapore [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 729 | 1,095 | 1,175 |
Country Of Peru [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 676 | 740 | 667 |
Country Of Japan [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 634 | 547 | 1,162 |
Country Of Spain [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 574 | 756 | 518 |
Country Of United Kingdom [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 554 | 724 | 586 |
Other [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 3997 | R$ 5987 | R$ 6573 |
Net revenue (Details 2)
Net revenue (Details 2) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 70569 | R$ 96519 | R$ 105625 |
Polyethylene /Polypropylene [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 44,295 | 61,145 | 73,306 |
Ethylene, Propylene [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 4,435 | 7,280 | 5,820 |
Polyvinyl Chloride/Caustic Soda [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 5,863 | 5,723 | 6,873 |
Tertiary-Butyl Ethyl Ether/Gasoline [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 4,309 | 5,819 | 4,321 |
Benzene/Toluene/Xylene [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 3,721 | 5,711 | 5,806 |
Butadiene [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,211 | 3,028 | 3,020 |
Cumene [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,126 | 1,425 | 1,129 |
Solvents [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,046 | 422 | 1,343 |
Naphtha, Condensate and Other Resales [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 638 | 1,522 | 1,649 |
Other 1 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 3925 | R$ 4444 | R$ 2358 |
Net revenue (Details Narrative)
Net revenue (Details Narrative) | 12 Months Ended |
Dec. 31, 2023 | |
IfrsStatementLineItems [Line Items] | |
Percentage of entity's revenue | 10% |
One Client [Member] | |
IfrsStatementLineItems [Line Items] | |
Percentage of entity's revenue | 2.10% |
Tax incentives (Details Narrati
Tax incentives (Details Narrative) - BRL (R$) R$ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Tax Incentives | ||
Percentage of tax reduction | 75% | |
Realization period | 10 years | |
ICMS tax incentives | R$ 58 | R$ 87 |
Expenses by nature and functi_3
Expenses by nature and function (Details) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Nature [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | R$ 73368 | R$ 92282 | R$ 79586 |
Nature [Member] | Raw Materials Other Inputs [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (54,602) | (73,182) | (63,570) |
Nature [Member] | Personnel Expenses [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (3,599) | (3,223) | (3,478) |
Nature [Member] | Outsourced Services [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (3,094) | (3,412) | (3,194) |
Nature [Member] | Depreciation And Amortization [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (5,206) | (4,733) | (4,178) |
Nature [Member] | Freights [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (4,134) | (4,035) | (2,966) |
Nature [Member] | Idle Industrial Plants [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (503) | (414) | (339) |
Nature [Member] | Alagoas Geological Event [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (2,193) | (1,520) | (1,340) |
Nature [Member] | Other Incomes [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | 1,769 | 507 | 1,843 |
Nature [Member] | Other Expenses [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (1,806) | (2,270) | (3,394) |
Function [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (73,368) | (92,282) | (79,586) |
Function [Member] | Other Expenses [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (2,735) | (2,344) | (2,669) |
Function [Member] | Cost Of Products Sold [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (67,548) | (85,161) | (73,568) |
Function [Member] | Selling And Distribution [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (1,916) | (2,108) | (2,056) |
Function [Member] | Loss For Impairment Of Trade Accounts Receivable And Others From Clients [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (83) | (38) | (9) |
Function [Member] | General And Administrative [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (2,472) | (2,764) | (2,522) |
Function [Member] | Research And Development [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | (383) | (374) | (297) |
Function [Member] | Other Income [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expenses, by nature | R$ 1769 | R$ 507 | R$ 1534 |
Financial results (Details)
Financial results (Details) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Finance income | R$ 1678 | R$ 1374 | R$ 1581 |
Financial expenses | (5,589) | (5,066) | (4,903) |
Derivatives and exchange rate variations, net | 511 | (533) | (4,760) |
Total | (3,400) | (4,225) | (8,082) |
Interest Income [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Finance income | 1,469 | 1,050 | 440 |
Inflation Indexation Income On Tax Assets [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Finance income | 51 | 16 | 1,042 |
Other Financial Income [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Finance income | 158 | 308 | 99 |
Interest Expenses [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial expenses | (3,780) | (3,125) | (2,923) |
Inflation Indexation Expenses On Tax Liabilities [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial expenses | (107) | (266) | (94) |
Discounts Granted [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial expenses | (14) | (129) | (76) |
Loans transaction costs - amortization [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial expenses | (189) | (261) | (691) |
Adjustment to present value - appropriation [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial expenses | (616) | (581) | (179) |
Interest Expense On Leases [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial expenses | (281) | (203) | (174) |
Other Financial Expenses [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial expenses | (602) | (501) | (766) |
Financial assets, class [member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivatives and exchange rate variations, net | (751) | (522) | 230 |
Financial liabilities, class [member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivatives and exchange rate variations, net | 1,351 | (50) | (4,233) |
Gain On Derivatives [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivatives and exchange rate variations, net | 83 | 636 | 246 |
Losses On Derivatives [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Derivatives and exchange rate variations, net | R$ 172 | R$ 597 | R$ 1004 |
Financial results (Details 1)
Financial results (Details 1) - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
U S Dollar Brazilian Real [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Closing foreign exchange rate | 4.8413 | 5.2177 | |
Closing foreign exchange rate variations | (7.21%) | ||
Average foreign exchange rate | 4.9953 | 5.1655 | 5.3956 |
Average foreign exchange rate variations | (3.29%) | (4.26%) | |
Euro - Brazilian Real [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Closing foreign exchange rate | 5.3516 | 5.5694 | |
Closing foreign exchange rate variations | (3.91%) | ||
Average foreign exchange rate | 5.4023 | 5.4420 | 6.3784 |
Average foreign exchange rate variations | (0.73%) | (14.68%) | |
Mexican Peso - Brazilian Real [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Closing foreign exchange rate | 0.2856 | 0.2667 | |
Closing foreign exchange rate variations | 7.09% | ||
Average foreign exchange rate | 0.2816 | 0.2569 | 0.2660 |
Average foreign exchange rate variations | 9.61% | (3.44%) | |
U.S. dollar - Mexican Peso [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Closing foreign exchange rate | 16.9596 | 19.5720 | |
Closing foreign exchange rate variations | (13.35%) | ||
Average foreign exchange rate | 17.7913 | 20.1249 | 20.2900 |
Average foreign exchange rate variations | (11.60%) | (0.81%) | |
U.S. dollar - Euro [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Closing foreign exchange rate | 0.9046 | 0.9416 | |
Closing foreign exchange rate variations | (3.93%) | ||
Average foreign exchange rate | 0.9246 | 0.9510 | 0.8458 |
Average foreign exchange rate variations | (2.77%) | 12.44% |
Segment information (Details)
Segment information (Details) - BRL (R$) R$ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 70569 | R$ 96519 | R$ 105625 |
Cost of products sold | (67,548) | (85,161) | (73,568) |
Gross profit | 3,021 | 11,358 | 32,057 |
Selling, general and distribuition expenses | (4,854) | (5,284) | (4,883) |
Results from equity investments | 7 | 35 | 5 |
Other operating income (expenses), net | (966) | (1,837) | (1,135) |
Profit (loss) before net financial expenses and taxes | (2,792) | 4,272 | 26,044 |
Reporting Segments [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 71,468 | 98,335 | 108,405 |
Cost of products sold | (68,652) | (88,252) | (76,066) |
Gross profit | 2,816 | 10,083 | 32,338 |
Selling, general and distribuition expenses | (3,198) | (3,143) | (2,981) |
Other operating income (expenses), net | (939) | (1,865) | (2,251) |
Profit (loss) before net financial expenses and taxes | (1,321) | 5,075 | 27,106 |
Reporting Segments [Member] | Country Of Brazil [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 49,512 | 69,080 | 69,495 |
Cost of products sold | (48,159) | (63,196) | (49,310) |
Gross profit | 1,353 | 5,884 | 20,185 |
Selling, general and distribuition expenses | (1,781) | (1,853) | (1,608) |
Other operating income (expenses), net | (1,443) | (1,889) | (2,211) |
Profit (loss) before net financial expenses and taxes | (1,871) | 2,142 | 16,367 |
Reporting Segments [Member] | USA and Europe [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 17,507 | 23,421 | 32,404 |
Cost of products sold | (16,127) | (19,986) | (23,343) |
Gross profit | 1,380 | 3,435 | 9,060 |
Selling, general and distribuition expenses | (802) | (838) | (901) |
Other operating income (expenses), net | 309 | 57 | (26) |
Profit (loss) before net financial expenses and taxes | 887 | 2,653 | 8,134 |
Reporting Segments [Member] | Country Of Mexico [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 4,449 | 5,834 | 6,506 |
Cost of products sold | (4,366) | (5,070) | (3,414) |
Gross profit | 83 | 764 | 3,093 |
Selling, general and distribuition expenses | (615) | (452) | (472) |
Other operating income (expenses), net | 195 | (33) | (15) |
Profit (loss) before net financial expenses and taxes | (337) | 280 | 2,606 |
Other Segments [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 782 | 403 | 364 |
Cost of products sold | (501) | (262) | (233) |
Gross profit | 281 | 140 | 131 |
Selling, general and distribuition expenses | 137 | 83 | 77 |
Results from equity investments | 7 | 35 | 5 |
Other operating income (expenses), net | 8 | 5 | (29) |
Profit (loss) before net financial expenses and taxes | 433 | 263 | 183 |
Corporate Unit [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Selling, general and distribuition expenses | (2,033) | (2,197) | (1,963) |
Other operating income (expenses), net | 458 | 19 | 1,162 |
Profit (loss) before net financial expenses and taxes | (1,575) | (2,177) | (802) |
Braskem Consolidated Before Eliminations And Reclassifications [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 72,250 | 98,738 | 108,769 |
Cost of products sold | (69,153) | (88,514) | (76,299) |
Gross profit | 3,097 | 10,223 | 32,469 |
Selling, general and distribuition expenses | (5,094) | (5,257) | (4,867) |
Results from equity investments | 7 | 35 | 5 |
Other operating income (expenses), net | (473) | (1,841) | (1,119) |
Profit (loss) before net financial expenses and taxes | (2,463) | 3,161 | 26,488 |
Eliminations And Reclassifications [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | (1,681) | (2,219) | (3,143) |
Cost of products sold | 1,605 | 3,353 | 2,731 |
Gross profit | (76) | 1,135 | (412) |
Selling, general and distribuition expenses | 240 | (27) | (16) |
Other operating income (expenses), net | (493) | 4 | (16) |
Profit (loss) before net financial expenses and taxes | R$ 329 | R$ 1111 | R$ 444 |
Segment information (Details 1)
Segment information (Details 1) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | |||
Investments | R$ 165 | R$ 149 | R$ 59 |
Property, plant and equipment | 38,405 | 37,763 | |
Intangible assets | 3,108 | 3,022 | 2,878 |
Right of use of assets | 3,820 | 3,953 | R$ 2779 |
Other receivables | 2,149 | 2,274 | |
Unallocated amounts [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 410 | 338 | |
Intangible assets | 15 | 10 | |
Right of use of assets | 2 | 1 | |
Other receivables | 60 | 111 | |
Country Of Brazil [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments | 108 | 86 | |
Property, plant and equipment | 17,279 | 16,868 | |
Intangible assets | 2,658 | 2,561 | |
Right of use of assets | 2,175 | 2,225 | |
Other receivables | 1,651 | 1,755 | |
USA and Europe [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments | 57 | 63 | |
Property, plant and equipment | 6,359 | 7,114 | |
Intangible assets | 131 | 159 | |
Right of use of assets | 1,234 | 1,324 | |
Other receivables | 141 | 118 | |
Country Of Mexico [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 14,357 | 13,443 | |
Intangible assets | 304 | 292 | |
Right of use of assets | 409 | 403 | |
Other receivables | R$ 297 | R$ 290 |
Contractual obligations (Detail
Contractual obligations (Details Narrative) - BRL (R$) R$ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Contractual Obligations | ||
Contractual capital commitments | R$ 8616 | R$ 8287 |