Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2021shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Trading Symbol | ERJ |
Entity Registrant Name | EMBRAER S.A. |
Entity Central Index Key | 0001355444 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 001-15102 |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Entity Incorporation, State or Country Code | D5 |
Entity Address, Address Line One | Avenida Dra. Ruth Cardoso |
Entity Address, Address Line Two | 8501, 30th floor (part) |
Entity Address, City or Town | São Paulo |
Entity Address, Country | BR |
Entity Address, Postal Zip Code | 05425-070 |
Entity Common Stock, Shares Outstanding | 734,588,205 |
Title of 12(b) Security | Common shares, without par value |
Security Exchange Name | NYSE |
Document Accounting Standard | International Financial Reporting Standards |
ICFR Auditor Attestation Flag | true |
Auditor Name | PricewaterhouseCoopers Auditores Independentes Ltda. |
Auditor Firm ID | 1351 |
Auditor Location | São José dos Campos, Brazil |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | Antonio Carlos Garcia |
Contact Personnel Email Address | investor.relations@embraer.com.br |
Entity Address, Address Line One | Investor relations department |
Entity Address, City or Town | São Paulo |
Entity Address, Country | BR |
City Area Code | (55) |
Local Phone Number | 11 3040 6874 |
Entity Address, Postal Zip Code | 05425-070 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position R$ in Millions, $ in Millions | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
CURRENT | |||
Cash and cash equivalents | [1] | $ 1,818.3 | $ 1,883.1 |
Financial investments | 750.8 | 817.5 | |
Trade accounts receivable, net | 189 | 203.4 | |
Derivative financial instruments | 0.1 | 8.3 | |
Customer and commercial financing | 9.6 | 8.5 | |
Contract assets | 582.3 | 461.8 | |
Inventories | 1,986 | 2,437.9 | |
Guarantee deposits | 0.6 | 0.2 | |
Income tax and social contribution | 114.5 | 114.1 | |
Other assets | 193.7 | 180.9 | |
Current assets | 5,644.9 | 6,115.7 | |
Assets held for sale | 230.9 | ||
Total current assets | 5,875.8 | 6,115.7 | |
NON-CURRENT | |||
Financial investments | 65.6 | 51.7 | |
Derivative financial instruments | 0 | 1.3 | |
Customer and commercial financing | 22.4 | 21.4 | |
Guarantee deposits | 2.4 | 1.5 | |
Deferred income tax and social contribution | 97.6 | 104.6 | |
Other assets | 125.6 | 120.7 | |
Non-current assets excluding investments,property, plant and equipment and intangible assets | 313.6 | 301.2 | |
Investments | 4.4 | 5.2 | |
Property, plant and equipment, net | 1,687.6 | 1,956 | |
Intangible assets, net | 2,213.4 | 2,075.6 | |
Right of use | 60.2 | 62.3 | |
Total non-current assets | 4,279.2 | 4,400.3 | |
TOTAL ASSETS | 10,155 | 10,516 | |
CURRENT | |||
Trade accounts payable | 495.2 | 502.3 | |
Trade accounts payable - Supplier finance | 14.8 | ||
Lease liability | 11.5 | 11.4 | |
Loans and financing | 574.2 | 375.5 | |
Other payables | 241.3 | 249.9 | |
Contract liabilities | 1,204.6 | 1,033 | |
Derivative financial instruments | 2.9 | 1.2 | |
Taxes and payroll charges payable | 40.4 | 71.9 | |
Income tax and social contribution | 71.6 | 40.7 | |
Financial guarantee and residual value | 15.8 | 42.6 | |
Dividends payable | 1.2 | ||
Unearned income | 2.5 | 0.5 | |
Provision | 108.9 | 98.5 | |
Current Liabilities | 2,783.7 | 2,428.7 | |
Liabilities held for sale | 45.1 | ||
Total Current Liabilities | 2,828.8 | 2,428.7 | |
NON-CURRENT | |||
Lease liability | 52.3 | 53.3 | |
Loans and financing | 3,452.7 | 4,072.5 | |
Other payables | 57.6 | 42.3 | |
Contract liabilities | 308.7 | 262.4 | |
Derivative financial instruments | 3 | 8.7 | |
Taxes and payroll charges payable | 10 | 11.8 | |
Deferred income tax and social contribution | 505.8 | 474.7 | |
Financial guarantee and residual value guarantees | 2.9 | 82.6 | |
Unearned income | 37.7 | 57.3 | |
Provision | 120.5 | 114.2 | |
Total non-current liabilities | 4,551.2 | 5,179.8 | |
TOTAL LIABILITIES | 7,380 | 7,608.5 | |
SHAREHOLDERS' EQUITY | |||
Capital | 1,551.6 | 1,551.6 | |
Treasury shares | (28.2) | (25.7) | |
Revenue reserves | 1,301.5 | 1,377.8 | |
Share-based remuneration | 37.4 | 37.4 | |
Other comprehensive loss | (194.4) | (114.6) | |
Retained losses | (31.6) | ||
Shareholder's equity excluding non-controlling interest | 2,667.9 | 2,794.9 | |
Non-controlling interests | 107.1 | 112.6 | |
TOTAL SHAREHOLDERS' EQUITY | 2,775 | 2,907.5 | |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 10,155 | $ 10,516 | |
[1] | Cash and cash equivalents excludes bank overdrafts of US$ 1.5 as of March 31, 2020. |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Profit or loss [abstract] | |||
REVENUE | $ 4,197.2 | $ 3,771.1 | $ 5,462.6 |
Cost of sales and services | (3,537.6) | (3,293.5) | (4,667.1) |
GROSS PROFIT | 659.6 | 477.6 | 795.5 |
OPERATING INCOME (EXPENSE) | |||
Administrative | (153.2) | (143.4) | (190.2) |
Selling | (226.4) | (194) | (286.5) |
Expected credit loss (reversal) over financial assets and contract assets | 13 | (61.8) | 0.6 |
Research | (43) | (29.8) | (49.4) |
Other operating expense, net | (49.8) | (374.7) | (346.8) |
Equity in income (losses) of associates | 1.1 | 2.7 | (0.2) |
OPERATING INCOME/ (LOSS) BEFORE FINANCIAL RESULT | 201.3 | (323.4) | (77) |
Financial expenses, net | (199.4) | (232.7) | (116.1) |
Foreign exchange gain (loss) , net | 25.5 | (79.1) | 6.9 |
LOSS BEFORE INCOME TAX | 27.4 | (635.2) | (186.2) |
Income tax expense | (70.9) | (93.1) | (130.3) |
LOSS FOR THE YEAR | (43.5) | (728.3) | (316.5) |
Attributable to: | |||
Owners of Embraer | (44.7) | (731.9) | (322.3) |
Non-controlling interests | $ 1.2 | $ 3.6 | $ 5.8 |
Earnings per share-basic in US$ | (per share) | $ (0.06) | $ (0.99) | $ (0.44) |
Earnings per share-diluted in US$ | (per share) | $ (0.06) | $ (0.99) | $ (0.44) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Statement of comprehensive income [abstract] | ||||
LOSS FOR THE YEAR | $ (43.5) | $ (728.3) | $ (316.5) | |
ITEMS THAT WILL NOT BE RECLASSIFIED TO PROFIT OR LOSS | ||||
Put options of non-controlling interest | (0.3) | (22.2) | ||
Remeasurement of post-employment benefit | (9.5) | |||
ITEMS THAT MAY BE SUBSEQUENTLY RECLASSIFIED THROUGH PROFIT OR LOSS | ||||
Financial instruments - Cash flow hedge | (8.9) | 9 | (0.7) | |
Other comprehensive income | 3.5 | |||
Translation adjustments | (67.8) | 62.1 | (10.6) | |
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX EFFECTS | [1] | (86.5) | 52.4 | (11.3) |
TOTAL OF COMPREHENSIVE LOSS | (130) | (675.9) | (327.8) | |
Attributable to: | ||||
Owners of Embraer | (124.5) | (691.6) | (330.3) | |
Non-controlling interests | (5.5) | 15.7 | 2.5 | |
TOTAL OF COMPREHENSIVE INCOME | $ (130) | $ (675.9) | $ (327.8) | |
[1] | Items presented above are net of deferred income tax, if applicable, of US$ (1.6), US$ 6.2 and US$ (2.8) for the years ended December 31, 2021, 2020 and 2019, respectively. |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of comprehensive income [abstract] | |||
Net of deferred income tax | $ (1.6) | $ 6.2 | $ (2.8) |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions | Total | Capital [member] | Treasury shares [member] | Share-based remuneration [member] | Government grants [member] | Legal Reserve [member] | For investment and working capital [member] | Retained earnings [member] | Result in transaction with non-controlling interest [member] | Actuarial gain (loss) on post employment benefit obligation [member] | Cumulative translation adjustments [member] | Other Comprehensive (Loss) Financial Instruments [member] | Total shareholders equity [member] | Non-controlling interest [member] |
Beginning balance (Previously stated [member]) at Dec. 31, 2018 | $ 3,940.1 | $ 1,551.6 | $ (31.4) | $ 37.4 | $ 47 | $ 204.4 | $ 2,182.3 | $ (4.2) | $ (39.2) | $ (102.7) | $ 0.5 | $ 3,845.7 | $ 94.4 | |
Beginning balance (Adjustment related to accounting policy change [member]) at Dec. 31, 2018 | $ 1.3 | (1.3) | ||||||||||||
Beginning balance at Dec. 31, 2018 | 3,940.1 | 1,551.6 | (31.4) | 37.4 | 47 | 204.4 | 2,182.3 | 1.3 | (4.2) | (39.2) | (102.7) | (0.8) | 3,845.7 | 94.4 |
Statement [Line Items] | ||||||||||||||
Loss for the year | (316.5) | (322.3) | (322.3) | 5.8 | ||||||||||
Translation adjustments | (10.6) | (7.3) | (7.3) | (3.3) | ||||||||||
Financial instruments - Cash flow hedge | (0.7) | (0.7) | (0.7) | |||||||||||
Total of comprehensive loss | (327.8) | (322.3) | (7.3) | (0.7) | (330.3) | 2.5 | ||||||||
Stock options grants exercised | 2.2 | 4.9 | (2.7) | 2.2 | ||||||||||
Correction of immaterial out-of-period adjustment | (31.6) | (31.6) | (31.6) | |||||||||||
Allocation of profits: | ||||||||||||||
Government grants | 2 | (2) | ||||||||||||
Reserve for investments and working capital | 0.1 | (325.6) | 325.7 | 0.1 | ||||||||||
Ending balance (Previously stated [member]) at Dec. 31, 2019 | 3,614.6 | 1,551.6 | (26.5) | 37.4 | 49 | 204.4 | 1,856.7 | (4.2) | (39.2) | (110) | (1.5) | 3,517.7 | 96.9 | |
Ending balance at Dec. 31, 2019 | 3,583 | 1,551.6 | (26.5) | 37.4 | 49 | 204.4 | 1,856.7 | (31.6) | (4.2) | (39.2) | (110) | (1.5) | 3,486.1 | 96.9 |
Statement [Line Items] | ||||||||||||||
Loss for the year | (728.3) | (731.9) | (731.9) | 3.6 | ||||||||||
Translation adjustments | 62.1 | 53.5 | 53.5 | 8.6 | ||||||||||
Put options of non-controlling interest | (22.2) | (22.2) | (22.2) | |||||||||||
Financial instruments - Cash flow hedge | 9 | 9 | 9 | |||||||||||
Other comprehensive income (loss) | 3.5 | 3.5 | ||||||||||||
Total of comprehensive loss | (675.9) | (731.9) | (22.2) | 53.5 | 9 | (691.6) | 15.7 | |||||||
Stock options grants exercised | 0.4 | 0.8 | (0.4) | 0.4 | ||||||||||
Absorption of reserves by loss for the year | (732.3) | 732.3 | ||||||||||||
Ending balance (Previously stated [member]) at Dec. 31, 2020 | 2,939.1 | |||||||||||||
Ending balance at Dec. 31, 2020 | 2,907.5 | 1,551.6 | (25.7) | 37.4 | 49 | 204.4 | 1,124.4 | (31.6) | (26.4) | (39.2) | (56.5) | 7.5 | 2,794.9 | 112.6 |
Statement [Line Items] | ||||||||||||||
Loss for the year | (43.5) | (44.7) | (44.7) | 1.2 | ||||||||||
Actuarial loss on post employment benefit obligation | Previously stated [member] | (9.5) | |||||||||||||
Actuarial loss on post employment benefit obligation | (9.5) | (9.5) | ||||||||||||
Translation adjustments | (67.8) | (61.1) | (61.1) | (6.7) | ||||||||||
Put options of non-controlling interest | (0.3) | (0.3) | (0.3) | |||||||||||
Financial instruments - Cash flow hedge | (8.9) | (8.9) | (8.9) | |||||||||||
Total of comprehensive loss | (130) | (44.7) | (0.3) | (9.5) | (61.1) | (8.9) | (124.5) | (5.5) | ||||||
Repurchases of common shares | (2.5) | (2.5) | (2.5) | |||||||||||
Absorption of reserves by loss for the year | (76.3) | $ 76.3 | ||||||||||||
Ending balance at Dec. 31, 2021 | $ 2,775 | $ 1,551.6 | $ (28.2) | $ 37.4 | $ 49 | $ 204.4 | $ 1,048.1 | $ (26.7) | $ (48.7) | $ (117.6) | $ (1.4) | $ 2,667.9 | $ 107.1 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
OPERATING ACTIVITIES | ||||
Loss for the year | $ (43.5) | $ (728.3) | $ (316.5) | |
ADJUSTMENT TO NET INCOME FOR ITEMS NOT AFFECTING CASH | ||||
Depreciation of property plant and equipment | 122 | 163.6 | 113.8 | |
Realization of government grants | (3) | (4.6) | (2.1) | |
Amortization of intangible assets | 86.6 | 128.5 | 95.9 | |
Realization of contribution from suppliers | (10.1) | (8.3) | (22.4) | |
Loss for inventory obsolescence | (55.7) | 16.6 | 20.5 | |
Adjustment to market value, inventory, property plant and equipment and intangible | (20.3) | 4.2 | 102.3 | |
Adjustment to market value - Financial investments | (39.1) | 4.1 | ||
Expect credit losses (reversal) and receivables written-off | (13) | 37.4 | (3.1) | |
Losses on fixed assets disposal | 31.6 | 15.2 | 28.6 | |
Deferred income tax and social contribution | 38.4 | 104.7 | 33.2 | |
Accrued interest | 20.1 | 24.6 | 1.5 | |
Interest on marketable securities, net | (2.4) | (0.4) | (30.9) | |
Equity in associates gains and losses | (1.1) | (2.7) | 0.2 | |
Foreign exchange gain (loss), net | (21.4) | 77.1 | (10.3) | |
Mark to market of the residual value guarantees | (51.5) | (9.7) | 4.2 | |
Other provisions | 32.3 | 23.6 | 20.4 | |
Other | (1.5) | (3.2) | (3.9) | |
CHANGES IN ASSETS | ||||
Financial investments | (41.7) | (513) | 507.8 | |
Derivative financial instruments | 5.4 | (2.1) | 4 | |
Collateralized accounts receivable and accounts receivable | 13.9 | 42.6 | 205.3 | |
Contract assets | (119.3) | 33.9 | (152.3) | |
Customer and commercial financing | 11.4 | (38.4) | 1.1 | |
Inventories | 474.4 | (34.6) | 147.3 | |
Guarantee deposits | (1.4) | (0.7) | 348.6 | |
Other assets | (38.9) | (72.5) | 13.2 | |
CHANGES IN LIABILITIES | ||||
Trade accounts payable | (10) | (314) | (44.6) | |
Trade accounts payable - Supplier finance | 14.7 | |||
Non-recourse and recourse debt | (4) | (3.8) | (323.7) | |
Other payables | (35.1) | (48.7) | (28.7) | |
Contribution from suppliers | 0 | 4.5 | ||
Contract liabilities | 216.8 | (134.5) | 200.6 | |
Taxes and payroll charges payable | 1.9 | (38.2) | 2.6 | |
Financial guarantees | (55) | (5.4) | (16) | |
Unearned income | 13.8 | (3.2) | (7.3) | |
NET CASH GENERATED (USED) IN OPERATING ACTIVITIES | 515.3 | (1,290.2) | 893.8 | |
INVESTING ACTIVITIES | ||||
Acquisition of property, plant and equipment | (101.7) | (102.3) | (284.5) | |
Proceeds from sale of property, plant and equipment | 3.6 | 10.7 | 0.1 | |
Additions to intangible assets | (166.5) | (121.4) | (283.3) | |
Additions investments in subsidiaries and affiliates | (0.8) | (1.8) | (2.5) | |
Acquisition of subsidiary, net of cash acquired | 0 | (4.1) | ||
Acquisition of non controlling interest | (3.8) | |||
Financial investments | 135.9 | 113.1 | 977.8 | |
Dividends received | 1.7 | 0.5 | 0.1 | |
NET CASH GENERATED (USED) IN INVESTING ACTIVITIES | (131.6) | (105.3) | 407.7 | |
FINANCING ACTIVITIES | ||||
Proceeds from borrowings | 60.4 | 2,079.1 | 400.5 | |
Repayment of borrowings | (478.2) | (1,061.8) | (645.9) | |
Dividends and interest on own capital | 0 | (2) | ||
Proceeds from stock options exercised | 0 | 0.4 | 2.2 | |
Repurchases of common shares | (2.5) | |||
Lease payments | (10.3) | (9) | (11.8) | |
NET CASH GENERATED (USED) IN FINANCING ACTIVITIES | (430.6) | 1,008.7 | (257) | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (46.9) | (386.8) | 1,044.5 | |
Effects of exchange rate changes on cash and cash equivalents | 2.4 | (37.8) | (17.7) | |
Cash and cash equivalents at the beginning of the period | 1,883.1 | 2,307.7 | 1,280.9 | |
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 1,838.6 | 1,883.1 | 2,307.7 | |
Included in cash and cash equivalents per the statements of financial position | [1] | 1,818.3 | $ 1,883.1 | $ 2,307.7 |
Included in assets held for sale - Commercial Aviation business unit | $ 20.3 | |||
[1] | Cash and cash equivalents excludes bank overdrafts of US$ 1.5 as of March 31, 2020. |
Operations
Operations | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Operations | 1. Operations Embraer S.A. (“Embraer” or “the Company”) is a publicly held company incorporated under the laws of the Federative Republic of Brazil (“Brazil”) with headquarters in São José dos Campos, State of São Paulo. The corporate purpose of the Company is: (i) To design, build and market aircraft and aerospace materials and related accessories, components and equipment, according to the highest standards of technology and quality. (ii) To perform and carry out technical activities related to the manufacturing and servicing of aerospace materials. (iii) To contribute to the training of technical personnel as necessary for the aerospace industry. (iv) To engage in and provide services for other technological, manufacturing and business activities in connection with the aerospace industry. (v) To design, build and trade in equipment, materials, systems, software, accessories and components for the defense, security and power industries, and to promote and carry out technical activities related to the manufacturing and servicing thereof, in accordance with the highest technological and quality standards. (vi) To conduct other technological, manufacturing, trading and services activities related to the defense, security and power industries. The Company’s shares (B3: EMBR3, NYSE: ERJ) are listed in the enhanced corporate governance segment of the Stock Exchange in Brazil (“B3”), known as the New Market (“Novo Mercado”). Embraer S.A. also holds American Depositary Shares (evidenced by American Depositary Receipts - ADRs) which are registered with the Securities and Exchange Commission (“SEC”) and listed on the New York Stock Exchange (“NYSE”). In accordance with the Company’s by-laws, 20-F, 1.1 Significant events in the fiscal year and its impacts in the consolidated financial statements 1.1.1 Impacts of the COVID-19 The updated status and related impacts on the Company’s business units are detailed below. The data and details provided below includes operational data, statistics and non-financial Defense & Security In the Defense and Security business unit, in the fourth quarter of 2021, the programs continue to be impacted by the COVID-19 pre-pandemic COVID-19 COVID-19. The Company and the Brazilian Air Force started contractual negotiation process in order to reduce the total number of aircraft that would be delivered based on the current order of 28 KC-390 KC-390 On February 9, 2022, the Company reached agreement with the Brazilian Air Force in relation to the contractual negotiation of C-390 Executive Aviation In the Executive Aviation business unit, the effect of the Omicron variant on demand did not bring significant negative impacts and the principal remaining risks lie in the possibility of discontinuities in the supply of some parts and supplies to fleet maintenance and the manufacture of new aircraft. As of the date of this report, the production lines of our Executive Aviation products are able to maintain planned supply levels without further shortages. We continue to oversee risks and control the supply chain, accommodating demand to avoid obstacles that may yet arise from this global crisis. During 2021, the Executive Aviation market landscape continued to evolve positively. The recent order of over 100 Phenom 300 jets by U.S. company Netjets totaling more than US$ 1.2 billion (included in the backlog of the Company as of December 31, 2021 as disclosed on Note 31(c)) and the record book-to-bill ratio of 2.5:1 (total amount of firm orders received during the year compared to total revenues recorded in 2021), illustrate the positive timing of the Executive Aviation market. From the beginning of the pandemic in 2020 to the date of these annual financial statements, only one of our executive jet customers has canceled their firm order and some of our executive jet customers have rescheduled aircraft deliveries. In 2021 there were no postponements nor cancellations of orders. The Company delivered a total of 93 executive jets in 2021, thus achieving 8% increase over the volume delivered in the previous year. Commercial Aviation In the Commercial Aviation business unit, the extensive traffic disruption affected our customer’s operations throughout the world, similar to the effects observed in the market worldwide. As a result of COVID-19, some of our customers rescheduled their aircraft deliveries, carrying them over to 2021 and beyond, for example, some deferral agreements were executed in 2020 and generated a limited number of deferrals to beyond 2025, which had an impact on our 2020 results. However, since the beginning of the pandemic in 2020 until the date of these financial statements, no cancellation has occurred. We cannot fully yet determine the impact of the COVID-19 outbreak in the short-to-medium term on our business. Despite of uncertainty scenario in the short-term, we identified positive signs of market recovery, which includes the Porter Airlines’ E195-E2 firm orders for 30 jets, which will be operated in several destinations across North America, as well as Alaska Air’ E175 -E1 firm orders for 9 jets, through its subsidiary Horizon Air, and SkyWest, Inc.’ E175 -E1 firm orders for 9 jets, all firm orders signed during the first half of 2021. In addition, during the third quarter of 2021, a new firm order for 16 E175 -E1 jets to operate as Delta Air Lines was celebrated by SkyWest, Inc., and in the fourth quarter of 2021, a firm order for the purchase of three new E175-E1 was celebrated with Overland Airways, a Nigerian airline, and an agreement with Azorra, a leasing company with headquarters in Florida, USA, for the purchase of 20 E190-E2 E195-E2 Services & Support Since the Services & Support business unit comprises parts and services offered and related to the three Embraer segments (Commercial Aviation, Executive Aviation and Defense & Security), which have differences between themselves, the following can be observed in relation to supply of parts and services: • Business segments that relies upon mostly on the economic activities of developed countries (such as the Commercial and Executive segments, both with its respective business activities more concentrated in the United States and Europe) are surpassing faster than previously expected the negative effects of the pandemic since these countries, by their own turn, presented the fastest vaccination rates for its populations in the global perspective, while other business segments (Defense, in particular) did not present significant changes in terms of business volumes reductions throughout the pandemic due to its intrinsic operating characteristics. • Relevant trends for both the Commercial (operating activation of once parked or deactivated aircrafts, specially by leasing companies) and Executive (increase in market demand for aircrafts, highlighted by the used aircrafts market) segments also represented additional business opportunities for the products and services under the Services and Support business unit. • The adverse effects of the pandemic were reflected not only in the customer perspective regarding actual aircraft utilization but also in Embraer’s internal processes dedicated to supporting its clients, a trend highlighted by the increase in actual costs and operating challenges associated to materials transportation. • Finally, as the vaccination campaigns against COVID-19 pre-pandemic COVID-19 1.1.2 Settlement and termination agreement on certain residual value guarantees On October 28, 2021, the Company executed settlement and termination agreement with the counterparties of certain residual value guarantees therefore finalizing some of its exposure to these instruments. The settlement and termination agreement established the payment of US$ 18.0, which led to a reversal of residual value financial liability (Note 25) that exceeded the amount negotiated in fourth quarter of 2021 in the amount of US$ 50.3 recognized as a reduction of financial expense, net. As of December 31, 2021, the Company finalized its total exposure to residual value guarantees. The financial liability recognized is related solely to accounts payable of settlement agreements executed, as disclosed in Note 25 and 36.2. 1.1.3 Divestment plan related to the Évora (Portugal) industrial facilities The sale of all of the shares of the Company’s subsidiaries Embraer Portugal Estruturas Metálicas S.A. (“EEM”) and Embraer Portugal Estruturas em Compósitos S.A. (“EEC”) to Aernnova Aerospace, SAU, headquartered in Spain (“Aernnova”), for the reference price of US$ 172.0, subject to the usual adjustments for this type of transaction on the closing date (the “Transaction”), was approved by the Board of Directors on November 11, 2021 and concluded through a binding agreement signed by the Company on January 11, 2022. EEM and EEC are currently dedicated to supplying certain components used in the manufacture of aircraft by the Company and by Embraer Executive Aircraft, LLC. After the closing of the Transaction, Aernnova will undertake the operation of EEM’s and EEC’s industrial plants and will ensure the level of production and supply of such components for Embraer aircraft portfolio. The Transaction is an integral part of the Company’s assets optimization which aims at maximizing facilities use and profitability improvement. In this context, the Company and Aernnova agreed to have supply agreements effective as of closing of the Transaction along with the sale that would ensure the continuous supply of metallic and composite components at competitive fixed prices consistent with the Company’s Strategic Plan. The terms and conditions of the Transaction were approved by the Company’s Board of Directors on November 11, 2021. Closing of the Transaction is subject to the fulfillment of certain conditions precedent and is expected to take place in the first quarter of 2022. Upon the approval of Board of Directors on November 11, 2021, the conclusion of the Transaction was deemed to be highly probable under IFRS 5, therefore the related assets and liabilities involved was classified and measured as held for sale since that date. The initial measurement as held for sale (Note 16) generated an impairment when compared the carrying amount of net assets to the fair value of the binding offer in the amount of US$ 50.1, being US$ 45.1 recognized as other operating expense, net and US$ 5.0 recorded as income tax expenses (write-off Évora’s 1.1.4 Signing of Business Combination Agreement with Zanite Acquisition Corporation Embraer along with two of its subsidiaries (EVE UAM, LLC (“Eve”) and Embraer Aircraft Holding Inc. (“EAH”)), and Zanite Acquisition Corp. (“Zanite”), a publicly held special purpose acquisition company incorporated under the laws of the State of Delaware in the United States, entered into, on December 21, 2021, a Business Combination Agreement. Under the Business Combination Agreement, the Company’s urban air mobility business, which includes the development and certification of electric vertical take-off In connection with the SPAC Transaction, the Company, Eve and EAH also entered into a Contribution Agreement, which governs the transfer of certain assets and liabilities related to the UAM Business to Eve and the transfer of Eve’s units to EAH in preparation for the SPAC Transaction. The SPAC Transaction will be implemented through an exchange of Eve’s units, which are owned by EAH, for shares of Zanite common stock. After the exchange is effected, Eve will become a wholly owned subsidiary of Zanite and Zanite will change its corporate name to EVE Holding, Inc. (“New Eve”). In connection with the SPAC Transaction, the Company also entered into new agreements to provide products, inputs, and services to Eve which will continue to be effective after the SPAC Transaction is completed. Upon closing of the SPAC Transaction, EAH will own 237.5 million shares of New Eve’s common stock, representing approximately 82% of the outstanding shares of New Eve as of the closing. EAH will receive 220 million shares in exchange for Eve’s units, and 17.5 million shares against a cash contribution of US$ 175.0, which is part of the Private Investment in Public Equity (PIPE) structure. The remaining shares of common stock will be owned by the Zanite’s public shareholders, Zanite’s sponsor and certain third-party investors who enter into subscription agreements to purchase shares of Zanite common stock at the closing of the SPAC Transaction, which will result in approximately US$ 237.0 of cash from Zanite Acquisition Corp. and a US$ 305.0 PIPE, anchored by Embraer, Zanite’s sponsor, financial investors and a consortium of leading strategic partners including Azorra Aviation, BAE Systems, Bradesco BBI, Falko Regional Aircraft, Republic Airways, Rolls-Royce and SkyWest, Inc. In connection with such subscription commitments, Embraer has entered into arrangements with certain of such strategic investors to provide them with price protections in the amount of up to their US$ 30.0 aggregate commitments in the form of credits for parts and services or cash in exchange for the transfer of shares to Embraer. New Eve will be listed on the New York Stock Exchange and will be required to disclose reports and financial information relating to its activities pursuant to the regulations of the United States Securities and Exchange Commission (the “SEC”). This SPAC Transaction is outside the scope of IFRS 3 – Business Combination. The SPAC Transaction, which has been unanimously approved by Zanite’s board of directors and the Company’s board of directors, is expected to close in the second quarter of 2022, subject to approval by regulators, approval of the transaction by Zanite’s shareholders and other customary conditions. |
Presentation of the Financial S
Presentation of the Financial Statements and Accounting Practices | 12 Months Ended |
Dec. 31, 2021 | |
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Presentation of the Financial Statements and Accounting Practices | 2. Presentation of the Financial Statements and Accounting Practices 2.1 Presentation and preparation of the financial statements The consolidated financial statements have been prepared in conformity with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) which include (i) IFRS, (ii) the International Accounting Standard (“IAS”), and (iii) the International Financial Reporting Interpretations Committee (“IFRIC”). All information presented in the consolidated financial statements are those considered relevant in the context of Company’s activities and for management purposes. 2.1.1 Basis of preparation These consolidated financial statements have been prepared under the historical cost convention, except when the account requires a different criterion and adjusted for assets and liabilities measured as at fair value in subsequent measurement, when applicable. The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management of the Company to exercise judgment in the process of applying the Company’s accounting policies. These consolidated financial statements include accounting estimates for certain assets, liabilities and other transactions. The areas which involve high degree of judgments or complexities, or assumptions and significant estimates to the consolidated financial statements, are disclosed in Note 3. 2.1.2 Consolidation These consolidated financial statements include the balances as of December 31, 2021 of the Company and all subsidiaries and special purpose entities in which the Company has control, directly or indirectly. All accounts and balances arising from transactions between controlled entities are eliminated during the consolidation process. Unrealized profits generated by intercompany transactions are eliminated in the consolidation process, both for sales operations from subsidiaries to the Parent Company (upstream transactions) or from the Parent Company to subsidiaries (downstream transactions). Subsidiaries are entities over which the Company has control, which means exposure and rights to variable returns, the ability to use its power over these entities to affect those returns and ability to manage its relevant activities. The control assessment considers, in addition to who holds the majority of voting rights, the shareholders agreement in place between the Company and other non-controlling Balances associated to the non-controlling non-controlling The accounting policies of the subsidiaries are consistent with the policies adopted by the Company. 2.1.3 Corporate structure Below is presented information regarding the consolidated subsidiaries as of December 31, 2021: Entity Participation Country Core activities Airholding S.A. 100 % Portugal Coordinates investments in subsidiaries in Portugal OGMA -Indústria Aeronáutica de 65 % Portugal Aviation maintenance and production Yaborã Indústria Aeronáutica S.A. 100 % Brazil Concentrates the production and commercialization of Commercial Aviation ELEB – Equipamentos Ltda. 100 % Brazil Sale of hydraulic and mechanical equipment for the aviation industry Embraer Overseas Ltd. 100 % Cayman Islands Financial operations raising and investing funds of the Embraer Group Embraer Netherlands Finance B.V. 100 % Netherlands Financial operations raising and investing funds of the Embraer Group Embraer Netherlands B.V. 100 % Netherlands Concentrates corporate activities in Europe for leasing and selling used aircraft Embraer Asia Pacific PTE. Ltd. 100 % Singapore Sale of spare parts and support services in Asia Embraer Portugal S.A. 100 % Portugal Coordinates investments and economic activities in subsidiaries in Portugal Embraer - Portugal Estruturas 100 % Portugal Fabrication of steel parts and products for the aviation industry Embraer - Portugal Estruturas em 100 % Portugal Fabrication of composite parts and products for the aviation industry Embraer (China) Aircraft Technical 100 % China Sale of spare parts and support services in China EZ Air Interior Limited 50 % Ireland Fabrication of interiors for commercial aircraft Embraer Aircraft Holding Inc. 100 % EUA Concentrates corporate activities in the USA Embraer Aircraft Customer Services, 100 % EUA Sale of spare parts and support services in North America and the Caribbean Embraer Aircraft Maintenance Services 100 % EUA Maintenance of aircraft and components Embraer Business Innovation Center, 100 % EUA R&D of technological innovations in the aerospace sector and related areas Embraer Executive Jet Services, LLC 100 % EUA After sale support and aircraft maintenance Embraer Executive Aircraft, Inc. 100 % EUA Final assembly and delivery of executive jets Embraer Engineering & Technology 100 % EUA Engineering services related to aircraft research and development Embraer Defense and Security Inc. 100 % EUA Supply of Super Tucano aircraft to the American Air Force (LAS) Embraer CAE Training Services 51 % EUA Pilot, mechanic and crew training Embraer Solutions, LLC 100 % EUA Sale of spare parts and support services for the Executive Aviation EVE UAM, LLC. 100 % EUA Aircraft development, design, manufacturing, selling, certification EVE Soluções De Mobilidade Aérea 100 % Brazil Eve’s subsidiary with operations in Brazil Embraer Aviation Europe - EAE 100 % France Concentrates corporate activities abroad, specifically Europe Embraer Aviation International - EAI 100 % France Sale of parts and after sale services in Europe, Embraer Aviation France - EAF 100 % France Sale of spare parts and support services in Europe Embraer Europe SARL 100 % France Commercial representation of the Company in Embraer Defesa & Segurança 100 % Brazil Coordinates investments in the Defense & Atech - Negócios em Tecnologias S.A. 100 % Brazil Development and control, communications, Visiona Tecnologia Espacial S.A. 51 % Brazil Supply and development of satellite solutions Visiona Internacional B.V. 100 % Netherlands International subsidiary of Visiona Tempest Serviços de Informática 61 % Brazil Research, development and services in the areas of Information Technology, Information Security and Intelligence Tempest Security Intelligence 100 % UK Retail trade of computer products, maintenance, repair and related services EZS Informática S.A. 100 % Brazil Retail trade of computer products, maintenance, repair and related services ID IT Tecnologia da Informação 99 % Brazil Development and licensing of customizable computer programs, information technology consulting, data processing, application service providers and internet hosting services Embraer GPX Ltda 100 % Brazil No operations Embraer Spain Holding Co. SL 100 % Spain Concentrates corporate activities abroad ECC Investment Switzerland AG 100 % Switzerland Coordinates investments in subsidiaries abroad ECC Insurance & Financial 100 % Cayman Islands Covers financial guarantees offered in aircraft sale structuring Embraer Finance Ltd. 100 % Cayman Islands Support to the Company in structuring specific operations Fundo de Investimento em 100 % Brazil Exclusive fund created with the objective of technological and financial aggregation based on investment and support to small and medium-sized companies focused on disruptive innovation in areas related to the A&D sector. 2.1.4 Entities not controlled and not consolidated by the Company Águas Azuis Construção Naval SPE Ltda. Equity Investment Fund ( “ FIP ” ) Aeroespacial Desenvolve SP 2.1.5 Revision of the consolidated statements of financial position as of December 31, 2020 During the current year (2021), the Company had identified adjustment in the amount of US$ 31.6 to be corrected in the valuation of certain items booked as inventories of raw materials in periods prior to the January 1, 2020. Management concluded that the correction of this adjustment does not have material impact over the financial position and performance of the Company previously reported in the most recent annual consolidated financial statements as of and for the three-year period ended December 31, 2020; however, the correction of this adjustment in the current year results (2021) as an out-of-period The following schedules presents the revised consolidated statements of financial position as of December 31, 2020 and the shareholders’ equity opening balance as of January 1, 2020: 12.31.2020 ASSETS Published Adjustment Recasted CURRENT Inventories 2,469.5 (31.6 ) 2,437.9 Other assets 8,078.1 — 8,078.1 TOTAL ASSETS 10,547.6 (31.6 ) 10,516.0 TOTAL LIABILITIES 7,608.5 — 7,608.5 SHAREHOLDERS’ EQUITY Capital 1,551.6 — 1,551.6 Treasury shares (25.7 ) — (25.7 ) Revenue reserves 1,377.8 — 1,377.8 Share-based remuneration 37.4 — 37.4 Accumulated other comprehensive loss (114.6 ) — (114.6 ) Retained earning — (31.6 ) (31.6 ) Non-controlling 112.6 — 112.6 TOTAL SHAREHOLDERS’ EQUITY 2,939.1 (31.6 ) 2,907.5 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 10,547.6 (31.6 ) 10,516.0 01.01.2020 ASSETS Published Adjustment Recasted CURRENT Inventories 1,304.4 (31.6 ) 1,272.8 Other assets 9,268.1 — 9,268.1 TOTAL ASSETS 10,572.5 (31.6 ) 10,540.9 TOTAL LIABILITIES 6,957.9 — 6,957.9 SHAREHOLDERS’ EQUITY Capital 1,551.6 — 1,551.6 Treasury shares (26.5 ) — (26.5 ) Revenue reserves 2,110.0 — 2,110.0 Share-based remuneration 37.4 — 37.4 Accumulated other comprehensive loss (154.8 ) — (154.8 ) Retained earning — (31.6 ) (31.6 ) Non-controlling 96.9 — 96.9 TOTAL SHAREHOLDERS’ EQUITY 3,614.6 (31.6 ) 3,583.0 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 10,572.5 (31.6 ) 10,540.9 2.2 Summary of significant accounting policies We present below the significant accounting policies adopted in the preparation of these consolidated financial statements. Description of the significant accounting policies adopted by the Company contributes towards the correct interpretation of the consolidated financial statements, whether on account of the existence of more than one treatment option under the international accounting standards, or due to the complexity of the operation. 2.2.1 Functional and presentation currency A Company’s functional currency is the currency of the primary economic environment in which it operates and should be the currency that best reflects company’s business and operations. Based on this analysis, management has concluded that the US Dollar (“US$” or “Dollar”) is its functional currency, based on analysis of the following indicators: • Currency that most influences the prices of goods and services; this is the currency in which the sales price of its goods and services are expressed and settled. • Currency of the country whose competitive forces and regulations most influence the Company’s business. • Currency that most influences the costs of providing goods or services, i.e., the currency in which the Company’s costs are normally expressed and settled. • Currency in which the Company largely obtains funds for financial operations and in which it normally receives for its sales and accumulates cash. 2.2.2 Transactions in foreign currencies Transactions in other currencies (other than the functional currency) are translated into the functional currency at the foreign exchange rates in force on the transaction dates. The amounts are updated at the exchange rates of the reporting dates. Foreign exchange gains and losses resulting from this translation (in relation to monetary assets and liabilities indexed in currencies other than the functional currency) are recognized in the consolidated statements of income as foreign exchange gain (loss), net. Customer advances and advances to suppliers for goods and/ or services in foreign currencies are translated to the Company’s functional currency in the transaction date and no subsequent translation is recognized. The results and financial position of foreign subsidiaries that have a functional currency different from the Company’s functional currency are translated into the functional currency as follows: • Assets and liabilities for each statements of financial position presented are translated at the closing rate at the date of that statements of financial position. • Income and expenses for each statement of income and statements of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and • All resulting exchange differences are recognized in the statements of comprehensive income in the line of translation adjustments. Goodwill and fair value adjustments arising on the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the closing rate, with foreign exchange gain (loss) being recognized as other comprehensive income. 2.2.3 Financial Instruments a) Financial assets a.1) Recognition and measurement Financial assets are recognized when the Company becomes part of the instrument’s contractual arrangements. They are initially measured at fair value, plus transaction costs attributable to their acquisition or issuance, except for instruments measured at fair value through profit or loss, for which these costs are recognized immediately in the consolidated statements of income. The Company classifies its financial assets under the following categories: (i) measured as at amortized cost, (ii) measured as at fair value through other comprehensive income and (iii) measured at fair value through profit or loss. Financial assets are not reclassified subsequent to initial recognition, unless the Company modifies the business model for the management of these financial assets, in which case all affected assets are reclassified on the first day of the new business model. Financial assets are derecognized when the contractual rights to receive cash flows from the asset expires or are transferred in a transaction in which substantially all the risks and benefits of ownership of the financial asset are transferred by the Company. a.2) Classification and subsequent measurement The Company classifies financial assets as measured at amortized cost only if both criteria are met: • The asset is held within a business model whose objective is to collect the contractual cash flows; and • The contractual terms give rise to cash flows, at specific dates, which relate only to the payments of principal and interest. Financial assets measured as at amortized cost by the Company includes cash and cash equivalents, certain financial investments, trade accounts receivable, customer and commercial financing, contract assets, guarantee deposits and other financial assets. Financial assets measured as at fair value through other comprehensive income (FVOCI) are assets held within a business model whose purpose is achieved both through the receipt of contractual cash flows and the sale of financial assets, as well as their contractual terms generate, on specific dates, cash flows that are related only to payments of principal and interest. Changes in fair value of FVOCI financial assets are recognized in other comprehensive income ( ) All financial assets not classified by the Company as measured at amortized cost or as FVOCI are classified as at fair value through profit or loss (FVTPL). These assets include financial assets held for active and frequent trading and derivative financial instruments. (i) Business model evaluation The Company evaluates the business model objective for the management of financial assets as part of the accounting classification of the instruments. The factors considered in this evaluation are: • The current financial policy and the objectives set for portfolio management, which includes assessing whether the strategy focuses on contractual interest income, maintaining a determined interest rate profile, the relationship between the duration of the financial assets and related liabilities, expected cash outflows, or the collection of cash flows through the sale of underlying financial assets. • How portfolio performance is assessed and reported to Management. • Risks that affect the performance of the business model and how they are managed. • The frequency, volume and timing of assets sales in prior periods, the reasons for such transactions and future expectations. (ii) Evaluation if contractual cash flows are only principal and interest payments To assess whether contractual cash flows are only principal and interest payments, the principal is defined as the fair value of the financial asset at the initial recognition, and interest as a consideration for the time value of money, the credit risk associated with value of principal outstanding during contractual terms, other risks and general costs of loans, as well as the profit margin in the transaction. This evaluation is made by considering the contractual terms of the financial assets, which includes, in addition to evaluating whether the contractual cash flows are only principal and interest payments, the existence of terms that could change the timing or value of the contractual cash flows which would not meet the definition, including: contingent events, terms that can adjust contractual rates, prepayment and extension of due dates, and terms that limit access to cash flows of specific assets. b) Financial liabilities The Company classifies its financial liabilities in the following categories: (i) measured at amortized cost and (ii) fair value through profit or loss. A financial liability is measured at fair value through profit or loss if it is held for trading or is a derivative financial instrument, and its changes, including interest, is recognized in the consolidated statements of income. Changes in other financial liabilities measured as at amortized cost, including interest and exchange variation, are recognized in the consolidated statements of income under financial income (expenses), net caption, except for the exchange variation recognized as foreign exchange gain (loss), net. Financial liabilities are derecognized when contractual obligations are withdrawn, canceled or expired. The difference between the extinct book value and the consideration paid (including transferred assets or assumed liabilities) is recognized in the consolidated statements of income. 2.2.4 Cash and cash equivalents and financial investments Cash and cash equivalents include cash in hand, cash in transit (amounts paid by our customers or debtors that are pending release by the intervening bank at the reporting date), bank deposits and highly liquid short-term investments, maturing within 90 days of the investment date, readily convertible into a known amount of cash and subject to an insignificant risk of change in value. Amounts related to cash and cash equivalents, which are however not available for use by the Company, are presented within other assets in the consolidated financial statements. Other financial investments with maturities of more than 90 days from the acquisition date are presented as financial investments. 2.2.5 Trade accounts receivable and customer and commercial financing When making a sale, the Company evaluates its payment terms. If the sale amount is not received immediately, which is the case with aircraft sales, it will be recognized in the trade accounts receivable. The amount receivable when the payment is deferred by the customer is adjusted to present value if applicable, identifying an interest rate compatible with the market at the time of sale and applying it to the amount receivable according to the transaction payment terms. Expected credit losses are recognized using actual credit loss experiences from the last years and follow-up Customer and commercial financing relate to accounts receivable transactions identified with significant financing component. As of December 31, 2021, the Company held a limited number of transactions with significant financing component. The Company applies the lifetime model to estimate the expected credit losses over receivables recorded as customer and commercial financing. The expected credit losses are estimated considering the customer’s probability of default based on contractual term as defined on each applicable agreement and updated on a reporting date basis. The fair value of collateral components is considered to cover and reduce the credit exposure assumed (whether partially or in its entirety) as well as the expected credit losses recognized. 2.2.6 Derivative financial instruments The Company uses derivative instruments to hedge its operations against the risk of fluctuations in foreign exchange and interest rates; they are not used for speculative purposes. Gains and losses on derivative transactions are recorded in consolidated statements of income, considering the fair value of these instruments. The unearned gains and losses are recognized in the consolidated statements of financial position under derivative financial instruments, and the counterpart in consolidated statements of income under financial expense, net, (Note 34), except for operations to hedge exposure to changes in exchange rate or designated as cash flow hedge, which is recognized as other comprehensive income (loss) in shareholders’ equity. 2.2.7 Hedge accounting The Company uses hedge accounting to book certain derivative financial instruments applied to hedge risks of fluctuations in foreign exchange and interest rates in transactions associated with firm commitments and highly probable forecast transactions. On the hedge’s initial designation, the Company formally documents the relationship between hedge instruments and hedged items, including the risk management objectives and the strategy for conducting the transaction, together with the methods used to evaluate the effectiveness of hedge relationship. The fair value of derivative financial instruments designated as hedge accounting is presented in Note 8 8 a) Fair value hedge Fair value hedge is applied for derivative financial instruments that hedge the Company against risk of fluctuations in interest rates (hedged risk) of loans and financing. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in income or loss, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest rate swaps is recognized in income or loss as financial expense, net. The gain or loss relating to the ineffective portion is recognized in income or loss within financial expense, net. b) Cash flow hedge Cash flow hedge is applied for hedging risks associated with the volatility of cash flows in foreign currency associated with highly probable forecast transaction that will impact income or loss, in this case the payroll expenses of personnel in Brazil settled in Brazilian Real. The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in the cash flow hedge reserve within equity. The gain or loss relating to the ineffective portion is recognized immediately in income or loss, within financial expenses, net. Where option contracts are used to hedge forecast transactions (put and call options of foreign currency), the Company designates only the intrinsic value of the options as the hedging instrument. Gains or losses relating to the effective portion of the change in intrinsic value of the options are recognized in the cash flow hedge reserve within the shareholders’ equity. The changes in the time value of put and call options that relate to the hedged item (‘aligned time value’) are recognized as hedge costs in other comprehensive income (loss) within shareholders’ equity. Amounts accumulated in shareholders’ equity are reclassified in the periods when the hedged item affects income or loss. When a hedging instrument expires, or is sold or terminated, or when a hedge no longer meets the criteria for hedge accounting, any cumulative deferred gain or loss and deferred costs of hedging in shareholders’ equity at that time remains in shareholders’ equity until the highly probable forecast transaction occurs, when it is reclassified to income or loss along with the gain or loss of forecast transaction. When the forecast transaction is no longer expected to occur, the cumulative gain or loss and deferred costs of hedging that were reported in shareholders’ equity are immediately reclassified to income or loss within financial expense, net. c) Effectiveness of hedge accounting Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. For fair value hedges, the Company enters into interest rate swaps where the critical terms of the hedging instrument match exactly with the terms of the hedged item, as notional value, payment term and cash outflow dates. Since all critical terms matched during the year the hedge relationship was 100% effective. In the case of cash flow hedges designated to hedge the volatility of payroll expenses settled in Brazilian Real, the Company enters into zero-cost 2.2.8 Inventories The Company’s inventories are largely comprised of raw material, work in progress, spare parts and finished goods. Inventories of raw materials are recognized at acquisition cost. Inventories of work in process comprise raw materials, direct labor, other direct costs and general production costs attributable to the cost of the inventories. Once the products have been completed, they are recognized as finished products. Inventories of raw material and spare parts are recognized as at the weighted average cost. Manufactured aircrafts (finished goods) and work in progress are measured at their individual production cost, which is recognized as cost of sales and services in the consolidated statements of income when aircraft are delivered to the customer. Inventories are assessed periodically to determine whether the net realizable value is higher than its cost and impairment loss is recognized if the book value is higher as cost of goods sold and services rendered. Provision for obsolescence is recorded for items without activity for over two years and with no planned use in the production program, and to cover expected losses from excess inventories or obsolete work in progress, except for inventories of spare parts, for which the provision is based on technical obsolescence of items without activity for over two years. The Company holds used aircraft for resale, usually received in trade-in 2.2.9 Income tax and social contribution Tax expenses for the year comprise current and deferred income tax. Income tax is recognized in the consolidated statements of income, except the portion of deferred income tax related to items recognized directly in the consolidated shareholders’ equity in other comprehensive income. The current income tax is calculated considering the effective tax laws on reporting date in the countries which the Company operates and generates taxable income, wherein 34% in Brazil, composed of 25% income tax and 9% social contribution on net income. Management evaluates on a recurring basis uncertain tax positions taken by the Company in the current income tax calculation based on the applicable tax laws, and records a provision, when appropriated, based on the estimated amount to be paid to tax authorities. Further details related to accounting practice related to uncertain tax positions are described in Note 2.2.19. Deferred income tax is recognized on temporary differences arising between the tax and accounting basis of assets and liabilities. Deferred income tax asset is recognized solely based on future taxable income available to reverse the temporary differences. Deferred income tax assets and liabilities are presented net in the statements of financial position when there is intention and the legal right is enforceable to offset the amounts in the current income tax calculation, and mainly related to the same legal entity and same tax authority. Therefore, deferred tax assets and liabilities of different legal entities and/or tax jurisdictions are generally presented gross. 2.2.10 Assets held for sale An asset or group of assets and liabilities is held for sale when its carrying amount is expected to be recovered mainly through the sale transaction rather than through continuing use. This occurs if the asset is available for immediate sale “as is”, subject only to usual and customary terms for completion of the transaction, when the sale is defined as highly probable. The group of assets and liabilities held for sale (disposal group) are measured at the lower of their carrying amount and fair value less incremental costs directly attributable to the conclusion of sale transaction. Upon the classification as assets held for sale, the depreciation and amortization of non-current Impairment losses of assets held for sale, or group of assets and liabilities held for sale, are recognized as other operating expense, net in the statements of income. 2.2.11 Investments Investments in associates are recorded and valued in the consolidated financial statements using the equity method of accounting. In the case of exchange variations on foreign investments that use a functional currency other than that used by the Company, such exchange variations are recognized in cumulative translation adjustments within shareholders’ equity, and are only recognized in the consolidated statements of income when the investment is sold or expensed. 2.2.12 Property, plant and equipment, net Property, plant and equipment are recognized by the acquisition, formation or construction cost, less accumulated depreciation and impairment losses. Depreciation is calculated by the straight-line method based on the asset’s estimated useful life, Note 15. Land is not depreciated. The estimated useful lives are reviewed and adjusted, if appropriated, at the end of each fiscal year. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company. The Company estimates the residual value for certain aircraft spare parts included in the exchange pool program, which is reviewed by Management and, if necessary, adjusted at the end of each reporting period. The Company does not attribute residual values to other assets as assets are not usually sold and in the event of a sale, the amount is not significant. The items comprising property, plant and equipment are summarized below: a) Land - b) Buildings and land improvements - c) Facilities - d) Machinery and equipment - e) Furniture and fixtures f) Vehicles - g) Aircraft - h) Computers and peripherals - i) Tooling - j) Property, plant and equipment in progress - k) Exchange pool program - 2.2.13 Intangible assets, net a) Development Research costs are recorded as an expense when they are incurred. Project costs, comprised mainly of expenditure on product development, including drawings, engineering designs and construction of prototypes, are recorded as intangible assets when it is probable that the projects will generate future benefits, taking into account their commercial and technological feasibility, availability of technological and financial resources, and only if the cost can be reliably measured. Capitalized development costs are amortized from the time at which benefits begin to accrue based on units produced, and the amortized amounts are appropriated to production cost. Revision of the amortization quota is made at least annually. The Company has agreements with certain key suppliers, hereby denominated partners, who participate in the Company’s research and development projects by contributing cash. The Company records such contributions as financial liability on receipt and when the milestones are completed and amounts not refundable, the contributions are reclassified as reduction of intangible assets (development expenditure) and amortized following the same intangible amortization criteria. b) Computer software Software licenses are capitalized and amortized over their estimated useful lives. Costs associated with maintaining computer software programs are recognized as expense as incurred. Development costs directly attributable to identif |
Critical accounting estimates a
Critical accounting estimates and significant judgements | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Critical accounting estimates and significant judgements | 3. Critical accounting estimates and significant judgements Preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and adopt assumptions that affect the reported amounts of assets and liabilities, revenue and expense and their disclosure. Therefore, variables and assumptions derived from historical experience and other factors deemed relevant were used in preparing accompanying consolidated financial statements included in this report. These estimates and assumptions are reviewed on an ongoing basis and the changes to accounting estimates are recognized in the period in which the estimates are revised on a prospective basis. The significant accounting policies, including the variables and assumptions used in the estimates, and the relevant sensitivity of those judgments to different scenarios and conditions are described below: 3.1. Revenue from long-term contracts (Defense & Security) 3.1.1 Estimated costs at completion of contracts In the Defense & Security segment, a significant portion of revenue is derived from long-term contracts with the Brazilian and foreign governments, recognized over time by the cost incurred method (Note 2.2.25 – c), using the ratio of actual cumulative costs incurred divided by total estimated costs at completion for progress measurement. During the contract execution, the Company assesses the costs incurred, adjusting total estimated costs at completion if necessary, to reflect variations in costs in relation to the projections, mainly due to changes in circumstances and new events, such as contract modification. Any resulting increase or decrease in estimated revenues or costs at completion is recognized as catch-up In a hypothetical scenario of 10% increase or decrease over Management’s projection of estimated costs at completion of long-term contracts in progress during 2021, the Company’s revenue and gross margin in the year would be lower in US$ 88.7 or would increase by US$ 98.9, respectively. 3.1.2 Contract modifications Contract modification is a change in scope, price or both of contracts with customers. On long-term contracts of the Defense & Security segment, contract modification might occur as a result of changes in price due to escalation, rebalance of price due to changes in cost structure, increase or decrease of scope, as well as adjustment to deliverables timeline. Management is required to review the assumptions of revenue recognition for long-term contracts recognized over time when a contract modification is enforceable (revenue and estimated costs at completion). Contract modification is solely adjusted in revenue recognition of a long-term contract when the subject of modification is approved by the parties of the original contract, which is usually achieved in the signature of contract amendment in the Defense & Security business unit. A contract modification might also exist when the parties to the original contract had discussions regarding scope or price (or both) of the modification, if the changes in rights and obligations of the parties as a result of modification are enforceable under the terms of the original contract and/or the applicable law. As disclosed in Note 1.1.1 - Defense & Security, during 2021 the Company and the Brazilian Air Force engaged in negotiations for potential reduction of total aircraft that will be delivered under the original sales order for 28 aircraft KC-390 KC-390 in 25%, as permitted by the applicable law. The terms to the contract modification were approved and formalized by the parties in the contract amendments signed on February 9, 2022, including, among others, (i) reduce from 28 to 22 the total number of KC-390 Although the signature of contract amendments had occurred in the beginning of 2022, the Company determined the effects of the modification must be considered in revenue recognition of KC-390 3.2. Impairment of long-lived assets The impairment test performed considers the Company’s medium and long-term strategic plan cash flows, brought to present value at an appropriate discount rate compatible with the market and that reflects the shareholders’ expectations of return. In preparing or using this information, the Company uses certain estimates, as follows: a) Gross expected cash flow - b) Growth rates - and the gro ss margin c) Discount rates - d) Foreign exchange rate USD/BRL Additional information on the impairment test are disclosed in Note 18. |
New Accounting Standards and In
New Accounting Standards and Interpretations | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
New Accounting Standards and Interpretations | 4. New accounting standards and interpretations Replacement of Libor and other interbank offered rates - Phase 2 (applicable on or after January 1, 2021) The changes brought about during Phase 2 of the benchmark interest rate reform ( London Interbank Offered Rate Interbank Offered Rates The Company is taking action together with counterparty financial institutions in order to mitigate potential risks created by the reform and discontinuing of Libor. The Company does not expect any material impacts nor impacts to current hedge relationships, since the loans and financing linked to the Libor interest rate have their maturity before the final date of the interest rate transition, as well as obligations towards financial institutions with later maturity have also contractual provision to change the reference interest rate Certain new accounting standards, amendments to accounting standards and interpretations have been published that are not mandatory for December 31, 2021 reporting periods and have not been early adopted by the Company. These standards, amendments or interpretations are not expected to have a material impact on the Company in the current or future reporting periods. • Property, Plant and Equipment: Proceeds before intended use – Amendments to IAS 16 • Onerous Contracts – Cost of Fulfilling a Contract Amendments to IAS 37 • Classification of Liabilities as Current or Non-current • Disclosure of Accounting Policies – Amendments to IAS 1 and IFRS Practice Statement 2 • Definition of Accounting Estimates – Amendments to IAS 8 • Annual Improvements to IFRS Standards 2018–2020 |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Cash and cash equivalents | 5. Cash and cash equivalents 12.31.2021 12.31.2020 Cash and banks 978.0 1,117.7 978.0 1,117.7 Cash equivalents Bank deposit certificate (i) 75.2 78.8 Fixed deposits (ii) 765.1 686.6 840.3 765.4 1,818.3 1,883.1 (i) Applications in Bank Deposit Certificates (CDB’s), issued by financial institutions in Brazil, available for redemption in up to 90 days. (ii) Fixed term deposits in US Dollars with original maturities of 90 days or less. |
Financial investments
Financial investments | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Financial investments | 6. Financial investments 12.31.2021 12.31.2020 Amortized Fair value through Fair value Total Amortized cost Fair value through Fair value Total Financial instruments Public securities 51.6 — — 51.6 51.8 — — 51.8 Structured Notes (i) 14.1 — 79.0 93.1 — — 241.1 241.1 Investment funds — — 22.1 22.1 — — 7.4 7.4 Fixed-Term Deposits (ii) 13.7 541.0 — 554.7 — 513.0 — 513.0 Others (iii) — — 94.9 94.9 — — 55.9 55.9 79.4 541.0 196.0 816.4 51.8 513.0 304.4 869.2 Current portion 13.8 541.0 196.0 750.8 0.1 513.0 304.4 817.5 Non-current 65.6 — — 65.6 51.7 — — 51.7 (i) Structured notes, the Company maintains financial investments in structured notes associated with the credit risk of financial institution issuer and the Brazilian government, in the amount of US$ 79.0 as of December 31, 2021 (US$ 195.2 as of December 31, 2020). As of December 31, 2020, the Company also maintained structured notes associated with the credit risk of two financial institutions concurrently in the amount of US$ 30.1, and structured notes associated with its own credit risk in the amount of US$ 15.7. (ii) Fixed term deposits in US Dollars issued by financial institutions, with original maturities of 90 days or higher from the date of hiring. (iii) It mainly relates to shares of the Republic Airways Holdings, arising from the request for the judicial reorganization of the former entity Republic Airways and received by the Company as part of the restructuring plan. Changes in the fair value of this financial investment is presented in Note 27. The weighted average nominal interest rates on December 31 2021, related to cash equivalents and financial investments made in Brazilian Reais were 4.34% p.a., equivalent to 98.83% of the CDI, and in Dollars 0.54% p.a. (2.80% p.a., equivalent to 100.1% of the CDI, and in Dollars 0.83% p.a. on December 31, 2020). |
Trade accounts receivable, net
Trade accounts receivable, net | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Trade accounts receivable, net | 7. Trade accounts receivable, net 12.31.2021 12.31.2020 Foreign customers 181.6 214.5 Brazilian Air Force 10.7 7.4 Domestic customers 27.4 40.0 219.7 261.9 Allowance for doubtful accounts (30.7 ) (58.5 ) 189.0 203.4 The amounts and maturities of these trade accounts receivable are shown below: 12.31.2021 12.31.2020 Current 193.8 190.9 Up to 90 days 16.4 20.9 From 91 to 180 days 2.0 8.4 More than 180 days 7.5 41.7 219.7 261.9 The following schedule presents the changes in the expected credit losses provision during the year: 12.31.2021 12.31.2020 12.31.2019 Beginning balance (58.5 ) (11.1 ) (45.0 ) Additions/Reversal (1.8 ) (57.1 ) (4.4 ) Write-off 29.4 15.0 7.5 Reclassification* — 29.6 — Foreign exchange variation 0.2 (4.9 ) 0.8 Assets held for sale — (30.0 ) 30.0 Ending balance (30.7 ) (58.5 ) (11.1 ) * Reclassification refers to transfer of expected credit losses provision recognized over trade accounts receivable overdue balances that were renegotiated with certain customers during 2020 and reclassified to the customer and commercial financing account in the consolidated statements of financial position. |
Derivative financial instrument
Derivative financial instruments | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Derivative financial instruments | 8. Derivative financial instruments Derivative financial instruments are contracted to protect the Company’s operations from exchange and interest rate fluctuations and are not used for speculation. As of December 31, 2021 and 2020, the Company had the following operations: • Swap operations, with the main objective of changing the debts index, from floating rates to fixed interest rates or vice versa, exchange of Real to US Dollars and vice versa. The fair values of these instruments are measured by the future flow, determined by applying contractual interest rates to maturity, and discounted to present value at the date of the financial statements by the prevailing market rates. • Purchase of sell and by currency options, in order to protect cash flows for the parent company’s wage costs denominated in Reais, against the risk of currency fluctuations. The financial instrument used by the Company is a zero-cost zero-net • Non-deliverable Purpose Risk Instrument Notional Settlement date 12.31.2021 12.31.2020 Cash flow hedge designated as hedge accounting (1.1 ) 7.1 Payroll expenses settled in Brazilian Reais Exchange rate Zero-cost collar derivative — 2021 — 7.1 Zero-cost collar derivative financial instruments, with purchase of put options at the exercise price of R$ 5.20 and sale of call options at the weighted average exercise price of R$ 6.52. 120.3 2022 (1.1 ) — Fair value hedge designated as hedge accounting 0.1 2.1 Project development Interest rate Interest swap to exchange fixed interest rate debt in Brazilian Reais for a floating rate CDI. 13.9 2023 0.1 0.8 Export Financing Interest rate Interest swap to exchange floating interest debt in US Dollars for a fixed interest rate. — 2023 — (0.1 ) Export Financing Exchange rate Interest rate and cross-currency swap — 2021 — 1.4 Others derivatives not designated as hedge accounting (4.8 ) (9.5 ) Acquisition of property, plant and equipment Interest rate Interest swap to exchange floating interest debt in US Dollars for a fixed interest rate. 1.8 2024 (0.1 ) (0.1 ) Export Exchange rate Non-Deliverable — 2021 — 0.3 Export Interest rate Interest swap to exchange floating interest debt in US Dollars for a fixed interest rate. 100.0 2027 (4.7 ) (9.7 ) (5.8 ) (0.3 ) The hedge effectiveness ratio of the fair value and cash flow hedge on the initial date was 1:1 and 1:1, respectively, on December 31, 2021. Considering the changes in the discounted cash value of the instruments not yet settled since January 1 and the amount of the hedged item, the effectiveness ratio was 1:1 and 1:1 (1:1 and 1:1 on December 31, 2020). On December 31, 2021 and 2020, the fair value of derivative financial instruments was recognized in the Company’s assets and liabilities as follows: 12.31.2021 12.31.2020 Assets Current portion 0.1 8.3 Non-current — 1.3 Liabilities Current portion (2.9 ) (1.2 ) Non-current (3.0 ) (8.7 ) Net derivative financial instruments (5.8 ) (0.3 ) |
Customer and commercial financi
Customer and commercial financing | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Customer and commercial financing | 9. Customer and commercial financing 12.31.2021 12.31.2020 Aircraft (i) 7.9 9.2 Spare parts (ii) 29.8 39.8 37.7 49.0 Expected credit losses (5.7 ) (19.1 ) 32.0 29.9 Current portion 9.6 8.5 Non-current 22.4 21.4 (i) Aircraft: financing provided to customers related to the acquisition of used aircraft. The fair value of used aircraft provided as collateral in the used aircraft customer financing structure, which could minimize the losses in case of default (collateral assets), were considered to reduce the expected credit losses (ECL) for such transaction. (ii) Parts and services: financing provided to certain customers as a result of the COVID-19 There are no overdue balances of the customer financing provided as of December 31, 2021. The changes in ECL provision during the periods is presented below: 12.31.2021 12.31.2020 Beginning balance (19.1 ) — (Additions)/Reversal 13.4 8.1 Reclassifications — (27.2 ) Ending balance (5.7 ) (19.1 ) ECL provision recorded as of December 31, 2021 for used aircraft transactions is US$ 0.4, and US$ 5.3 related to the customer financing of parts and services. As of December 31, 2021, the maturity schedules of the long-term customer financing are: Year 2023 17.7 2024 1.5 2025 1.6 Thereafter 2025 1.6 22.4 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Inventories | 10. Inventories 12.31.2021 12.31.2020 Raw materials 822.7 1,040.3 Work in process 524.7 631.1 Spare parts 474.3 576.0 Finished goods (i) 54.2 137.4 Held by third parties 79.3 61.4 Advances to suppliers 30.8 47.8 Inventory in transit 80.0 71.8 Consumption materials 43.5 52.1 Used aircraft (ii) 28.4 34.7 Loss on adjustment to market value (iii) (1.0 ) (4.4 ) Loss due to obsolescence (iv) (150.9 ) (210.3 ) 1,986.0 2,437.9 (i) The following aircraft were held in the finished goods inventory: • December 31, 2021: one Phenom 100, one Phenom 300, one Praetor 500, two Praetor 600 and one Super Tucano. • December 31, 2020: two Embraer 195-E2, (ii) The following used aircraft were held in inventory as available for sale: • December 31, 2021: one Embraer 190. • December 31, 2020: one Phenom 100, one Embraer 135, two Embraer 145 and one Embraer 190-E2. There were no deliveries of aircraft held in inventories as of December 31, 2021 until March 23 . (iii) Changes in the provision for adjustments to the realizable value of work in process, finished goods and used aircraft were as follows: 12.31.2021 12.31.2020 12.31.2019 Beginning balance (4.4 ) (0.9 ) (7.7 ) Additions (13.9 ) (17.3 ) (5.2 ) Disposals 17.3 14.6 11.2 Assets held for sale — (0.8 ) 0.8 Ending balance (1.0 ) (4.4 ) (0.9 ) (iv) Changes in the provision for obsolescence were as follows: 12.31.2021 12.31.2020 12.31.2019 Beginning balance (210.3 ) (95.6 ) (170.7 ) Additions (45.6 ) (42.2 ) (50.3 ) Disposals* 84.0 23.9 29.8 Reversals 17.3 1.7 — Foreign exchange loss 1.6 (3.4 ) 0.9 Assets held for sale 2.1 (94.7 ) 94.7 Ending balance (150.9 ) (210.3 ) (95.6 ) * Disposals relates to obsolete materials and parts sold by the Company during the year. |
Other assets
Other assets | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other assets | 11. Other assets 12.31.2021 12.31.2020 Taxes recoverable (i) 105.0 105.6 Other debtors (ii) 73.7 72.8 Prepaid expenses 36.2 36.5 Court-mandated escrow deposits (iii) 24.9 26.8 Loan with a joint operation 25.7 25.2 Advances to employees 19.6 4.9 Advances for services to be rendered 13.7 5.2 Collateralized accounts receivable 9.9 13.9 Others 10.6 10.7 319.3 301.6 Current portion 193.7 180.9 Non-current 125.6 120.7 (i) Taxes recoverable 12.31.2021 12.31.2020 ICMS (State Value-added Tax) and IPI (Excise Tax) 65.7 69.3 PIS (Social Integration Program) and COFINS 27.6 19.7 Income tax and social security on net income 5.6 7.5 ISS (Service tax) 4.4 4.6 Others 1.7 4.5 105.0 105.6 Current portion 37.4 50.0 Non-current 67.6 55.6 (ii) Corresponds mainly to rework done on materials and parts received from suppliers, which will be reimbursed in cash by the supplier or through credits granted that can be used to offset trade accounts payable when requested by the Company and approved by the supplier. (iii) Refers to deposits arising from lawsuits, substantially to federal taxes and contributions, in which there is a liability recorded Note 26. |
Interest in entities
Interest in entities | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Interest in entities | 12. Interest in entities 12.1 Subsidiaries Subsidiaries controlled directly or indirectly by the Company are described in Note 2.1.3 and are consolidated. There are no contractual or legal restrictions on the Company’s access to assets or settlement of liabilities of the subsidiaries. There are inherent risks to the operations of these entities, the most significant of which are described below: • Economic Risks: potential losses from fluctuations in market conditions (price of products, exchange rate and interest). • Operational risk: potential losses resulting from the emergence of new technologies or failure of current processes. • Credit risk: potential losses that might occur if a third party (customer) becomes unable to meet its obligations, and • Liquidity risk: financial inability to meet financial obligations. 12.2 Subsidiaries with participation of non-controlling Non-controlling 12.31.2021 Entity Country Participation Non-controlling interest Comprehensive OGMA - Indústria Aeronáutica de Portugal S.A. Portugal 65.0 % 35.0 % 54.0 (4.2 ) Visiona Tecnologia Espacial S.A. Brazil 51.0 % 49.0 % 15.8 (2.4 ) Embraer CAE Training Services United States of America 51.0 % 49.0 % 27.3 8.9 Tempest Serviços de Informática S.A. Brazil 61.0 % 39.0 % 10.0 (1.1 ) 107.1 12.31.2020 Entity Country Participation Non-controlling interest Comprehensive income OGMA - Indústria Aeronáutica de Portugal S.A. Portugal 65.0 % 35.0 % 60.5 3.9 Embraer CAE Training Services Ltd. United Kingdon 51.0 % 49.0 % — — Visiona Tecnologia Espacial S.A. Brazil 51.0 % 49.0 % 17.3 (1.7 ) Embraer CAE Training Services United States of America 51.0 % 49.0 % 22.9 6.0 Tempest Serviços de Informática S.A. Brazil 61.0 % 39.0 % 11.9 0.3 112.6 12.31.2019 Entity Country Participation Non-controlling interest Comprehensive OGMA - Indústria Aeronática de Portugal S.A. Portugal 65.0 % 35.0 % 53.9 3.0 Embraer CAE Training Services Ltd. United Kingdom 51.0 % 49.0 % — — Visiona Tecnologia Espacial S.A. Brazil 51.0 % 49.0 % 20.0 (0.5 ) Embraer CAE Training Services United States of America 51.0 % 49.0 % 23.0 10.2 96.9 Embraer holds 51.0% of the entities Visiona Tecnologia Espacial S.A. and Embraer CAE Training Services. The powers described in the contractual agreements show that the Board of Directors is mainly comprised of Embraer representatives, as well as Embraer directs the principal operating activities of the entity. The financial position of the most significant entity with non-controlling 12.31.2021 12.31.2020 Cash and cash equivalents 38.8 67.8 Current assets 194.1 217.9 Non-current 65.4 64.4 Current liabilities 99.4 109.1 Non-current 5.9 0.4 Noncontrolling interest 54.0 60.5 12.31.2021 12.31.2020 12.31.2019 Revenue 244.7 287.1 277.5 Net income for the year (4.2 ) 3.9 3.0 Subsidiaries with non-controlling |
Business combination
Business combination | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about business combination [abstract] | |
Business combination | 13. Business combination The Company concluded on November 30, 2020, through its wholly owned subsidiary Embraer Defesa e Segurança Participações S.A. (“EDSP”), the control acquisition of Tempest Serviços de Informática S.A. and its subsidiaries (“Tempest”), the largest cybersecurity company in Brazil. The acquisition was concluded in steps, since previously the purchase of majority stake of 52.8% as of November 30, 2020, the Company maintained indirect stake of 8.4% on Tempest through the FIP Aeroespacial. Upon completion of the business combination, the Company’s total stake increased to 61.2%. The measurement period was concluded on November 30, 2021 and no relevant adjustments were identified on the acquired identifiable net assets, including intangibles and goodwill as presented in Note 17. The goodwill generated is attributable to the workforce and profitability of the acquired business. It will not be deductible for income tax purposes. The total consideration was US$ 22.1 , including final price adjustments and contingent consideration of US$ 0.4 (Note 22) . As part of the shareholders agreement and other obligations assumed, it was established a lock-up non-controlling non-controlling lock-up non-controlling |
Related parties
Related parties | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Related parties | 14. Related parties 14.1 Related party transactions The tables below summarize balances with related parties outside Embraer and refers mainly to: (i) Assets: (i) accounts receivable for spare parts, aircraft sales and product development, under conditions agreed between the parties, considering the volumes, risks involved and corporate policies (ii) balances of financial investments; and (iv) bank deposits. (ii) Liabilities: (i) purchase of aircraft components and spare parts, under conditions agreed between the parties, considering the volumes, risks involved and corporate policies (ii) advances received on sales contracts, according to contractual agreements; (iii) commission for sale of aircraft and spare parts (iv) financing for research and product development at market rates for this kind of financing (v) loans and financing; and (vi) export financing, and (iii) Amounts in the consolidated statements of income: (i) purchases and sales of aircraft, components and spare parts and development of products for the defense and security market; (ii) financial income from financial investments and expense from loans and financing, and (iii) supplementary pension plan. 14.2 Brazilian Federal Government Transactions with related parties also involves transactions with the Brazilian Federal Government. The Brazilian Federal Government, through its direct and indirect participation and ownership of a common share denominated golden share Banco Nacional do Desenvolvimento Econômico e Social The Brazilian government plays a key role in the Company’s business activities, including as: • Major customer for Defense & Security products (through the Brazilian Air Force, Brazilian Army and Brazilian Navy). • Source of research and development financing through technology development institutions (FINEP and BNDES). • Export credit agency (through the BNDES), and • Source of short-term and long-term financing and a provider of asset management and commercial banking services (through Banco do Brasil). 14.3 December 31, 2021 12.31.2021 Current Non-current Financial Operating Assets Liabilities Assets Liabilities Results Results Banco do Brasil S.A. 50.6 — — — (1.8 ) — Banco Nacional de Desenvolvimento Econômico e Social - — 1.4 — 300.5 (6.2 ) — Brazilian Air Force 410.3 153.2 — — — (42.0 ) Brazilian Army 2.4 1.6 — — — 3.3 Embraer Prev - Sociedade de Previdência Complementar — 4.2 — — — (12.0 ) Ez Air Interior Limited 4.8 4.8 20.9 20.9 — — Financiadora de Estudo e Projetos - — 8.2 — 5.9 (0.7 ) — FIP Aeroespacial — — — 7.2 — — Marinha do Brasil 0.4 2.6 — — — (2.0 ) 468.5 176.0 20.9 334.5 (8.7 ) (52.7 ) The operating results of the Brazilian Air Force presented in the table above includes the revenue cumulative adjustment of US$ 40.9 recognized in the end of 2021 as a result of the contract modification for scope reduction in the sales order of KC-390 14.4 December 31, 2020 12.31.2020 Current Non-current Financial Operating Assets Liabilities Assets Liabilities Results Results Banco do Brasil S.A. 45.2 0.4 — 50.3 (1.3 ) — Banco Nacional de Desenvolvimento Econômico e Social - — 1.2 — 300.6 (2.4 ) — Brazilian Air Force 372.3 190.2 — — — (34.0 ) Brazilian Army 1.7 9.0 — — — 1.5 Embraer Prev - Sociedade de Previdência Complementar — 4.5 — — — (12.0 ) Ez Air Interior Limited 5.1 5.1 20.1 20.1 — — Financiadora de Estudo e Projetos - FINEP — 8.8 — 14.7 (0.1 ) — Marinha do Brasil 1.8 10.3 — — — (3.2 ) 426.1 229.5 20.1 385.7 (3.8 ) (47.7 ) 14.5 December 31, 2019 12.31.2019 Financial Results Operating Results Banco do Brasil S.A. 1.1 — Banco Nacional de Desenvolvimento Econômico e Social - (5.1 ) — Brazilian Air Force — (35.9 ) Marinha do Brasil — (2.9 ) Embraer Prev - Sociedade de Previdência Complementar — (19.7 ) Brazilian Army — 6.8 Financiadora de Estudo e Projetos - (1.7 ) — (5.7 ) (51.7 ) 14.6 Remuneration of key management personnel: 12.31.2021 12.31.2020 12.31.2019 Short-term benefits (i) 6.1 5.8 9.0 Share based payment (ii) 2.4 (1.7 ) 3.2 Labor contract termination — 0.5 1.2 Total remuneration 8.5 4.6 13.4 (i) Includes wages, salaries, profit sharing, bonuses and indemnities distributed to the key management personnel, which are settled in Brazilian Real, as well as the compensation of external members engaged in the statutory advisory committees. (ii) Accounts payable were reduced in 2020 and increased in 2021 due to the Company’s shares price changes in these periods end, which is applied to measure the share-based payment plan settled in cash, as disclosed in Note 29. The Company considers as key management personnel the members of the statutory Board of Directors and statutory Executive Directors. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Property, plant and equipment | 15 Property, plant and equipment The Company applied the following useful lives for the depreciation of fixed assets: Class of assets Estimated life Buildings and improvements 30 60 Installations 10 Machinery and equipment 10 Furniture and fixtures 5 Vehicles 10 Aircraft 4 Computers and peripherals 2 Tooling 5 Exchange pool program assets 8 12.31.2021 Land Buildings and Installations Machinery and Furniture Vehicles Aircraft Computers Tooling Other Exchange pool assets Construction in progress Total Cost At December 31, 2020 11.0 716.9 93.6 881.0 49.0 12.3 23.7 121.1 655.6 18.4 737.5 65.4 3,385.5 Additions — 0.6 — 13.1 0.6 0.3 — 0.9 5.2 0.1 62.4 18.5 101.7 Disposals — (14.9 ) — (14.2 ) (2.7 ) (0.4 ) — (3.2 ) (0.4 ) — (35.9 ) — (71.7 ) Impairment — — — 12.4 — — — — 1.4 — — — 13.8 Reclassifications* — 21.2 0.5 6.0 0.5 0.1 — 0.7 10.4 — (23.2 ) (39.3 ) (23.1 ) Translation adjustments — (2.6 ) (0.6 ) (7.8 ) (0.4 ) (0.3 ) — (1.1 ) — — (28.3 ) (0.8 ) (41.9 ) Assets held for sale (0.8 ) (64.3 ) (5.1 ) (162.7 ) (0.5 ) — — (2.0 ) — — — (8.6 ) (244.0 ) At December 31, 2021 10.2 656.9 88.4 727.8 46.5 12.0 23.7 116.4 672.2 18.5 712.5 35.2 3,120.3 Accumulated depreciation At December 31, 2020 — (180.1 ) (33.8 ) (422.2 ) (25.8 ) (9.5 ) (22.4 ) (107.7 ) (397.8 ) (18.4 ) (211.8 ) — (1,429.5 ) Depreciation — (20.9 ) (2.5 ) (30.7 ) (7.3 ) (0.7 ) (0.5 ) (5.7 ) (18.6 ) (0.1 ) (21.0 ) — (108.0 ) Disposals — 5.1 — 13.9 2.6 0.4 — 3.0 0.2 — 11.8 — 37.0 Reclassifications* — — — — — — — — — — 1.1 — 1.1 Interest on capitalized assets — (1.1 ) — — — — — — — — — — (1.1 ) Impairment — — — (2.3 ) — — — — (0.3 ) — — — (2.6 ) Translation adjustments — 1.0 0.2 6.3 0.3 0.3 — 0.9 — — 4.4 — 13.4 Assets held for sale — 12.8 1.3 41.0 0.1 — — 1.8 — — — — 57.0 At December 31, 2021 — (183.2 ) (34.8 ) (394.0 ) (30.1 ) (9.5 ) (22.9 ) (107.7 ) (416.5 ) (18.5 ) (215.5 ) — (1,432.7 ) Net At December 31, 2020 11.0 536.8 59.8 458.8 23.2 2.8 1.3 13.4 257.8 — 525.7 65.4 1,956.0 At December 31, 2021 10.2 473.7 53.6 333.8 16.4 2.5 0.8 8.7 255.7 — 497.0 35.2 1,687.6 Changes presented in the table above classified as assets held for sale refers to: (i) reclassification to assets held for sale of fixed assets involved in the sales transaction of Évora, Portugal, facilities in 2021, as disclosed in Note 1.1.3 and 16, and (ii) reclassification from assets held for sale to fixed assets in 2020 of assets involved in the now terminated sale transaction of the Commercial Aviation to the Boeing Company. 12.31.2020 Land Buildings and Installations Machinery and equipment Furniture fixtures Vehicles Aircraft Computers Tooling Other Exchange pool assets Construction in progress Total Cost At December 31, 2019 5.1 459.2 60.1 481.8 38.1 10.4 14.7 101.5 443.8 25.5 321.0 48.2 2,009.4 Additions — 1.3 — 14.2 0.5 0.2 — 1.4 11.4 — 51.2 22.1 102.3 Additions - business combination — 0.8 — 0.1 0.2 — — 0.9 — — — — 2.0 Disposals (0.4 ) (8.5 ) (0.1 ) (8.4 ) (1.0 ) (0.4 ) — (4.0 ) (1.6 ) (0.1 ) (16.9 ) (1.6 ) (43.0 ) Impairment — — — 1.6 — — (0.8 ) — 0.5 — — — 1.3 Reclassifications* — 26.6 3.2 15.2 — — (38.4 ) — 37.0 (10.8 ) (18.2 ) (71.4 ) (56.8 ) Translation adjustments — 1.0 0.6 8.5 0.1 0.3 — — — — 25.6 0.4 36.5 Assets held for sale 6.3 236.5 29.8 368.0 11.1 1.8 48.2 21.3 164.5 3.8 374.8 67.7 1,333.8 At December 31, 2020 11.0 716.9 93.6 881.0 49.0 12.3 23.7 121.1 655.6 18.4 737.5 65.4 3,385.5 Accumulated depreciation At December 31, 2019 — (131.6 ) (25.6 ) (301.5 ) (21.5 ) (8.5 ) (4.1 ) (88.7 ) (352.6 ) (18.4 ) (88.0 ) — (1,040.5 ) Depreciation — (28.7 ) (4.1 ) (50.9 ) (2.8 ) (0.9 ) (1.5 ) (11.2 ) (37.0 ) — (15.2 ) — (152.3 ) Depreciation - business combination — (0.2 ) — (0.1 ) (0.1 ) — — (0.4 ) — — — — (0.8 ) Disposals — 1.9 0.1 7.1 0.7 0.4 — 1.1 0.6 — 6.1 — 18.0 Reclassifications* — — — — — — 2.2 — — — (1.8 ) — 0.4 Interest on capitalized assets — (1.1 ) — — — — — — — — — — (1.1 ) Translation adjustments — 0.1 (0.1 ) (6.2 ) (0.1 ) (0.3 ) — (0.1 ) — — (2.4 ) — (9.1 ) Assets held for sale — (20.5 ) (4.1 ) (70.6 ) (2.0 ) (0.2 ) (19.0 ) (8.4 ) (8.8 ) — (110.5 ) — (244.1 ) At December 31, 2020 — (180.1 ) (33.8 ) (422.2 ) (25.8 ) (9.5 ) (22.4 ) (107.7 ) (397.8 ) (18.4 ) (211.8 ) — (1,429.5 ) Net At December 31, 2019 5.1 327.6 34.5 180.3 16.6 1.9 10.6 12.8 91.2 7.1 233.0 48.2 968.9 At December 31, 2020 11.0 536.8 59.8 458.8 23.2 2.8 1.3 13.4 257.8 — 525.7 65.4 1,956.0 12.31.2019 Land Buildings and Installations Machinery and Furniture Vehicles Aircraft Computers Tooling Other Exchange pool assets Construction Total Cost At December 31, 2018 11.0 750.1 162.4 972.4 74.2 17.3 76.2 190.0 629.1 27.6 650.8 93.7 3,654.8 Additions 0.4 5.3 — 43.6 5.6 0.6 31.7 5.0 28.2 10.3 91.8 62.0 284.5 Disposals — (8.3 ) (3.7 ) (60.2 ) (22.4 ) (3.0 ) — (45.4 ) (26.1 ) (1.0 ) (19.0 ) (0.8 ) (189.9 ) Impairment — — — (14.1 ) — — (4.6 ) — (1.8 ) — — — (20.5 ) Reclassifications* — 30.3 6.3 11.3 (1.4 ) 0.1 (40.4 ) (6.6 ) 7.0 (7.6 ) (21.8 ) (39.3 ) (62.1 ) Translation adjustments — (0.6 ) (0.1 ) (1.9 ) (0.1 ) (0.1 ) — (0.2 ) — — (6.1 ) 0.3 (8.8 ) Assets held for sale (6.3 ) (317.6 ) (104.8 ) (469.3 ) (17.8 ) (4.5 ) (48.2 ) (41.3 ) (192.6 ) (3.8 ) (374.7 ) (67.7 ) (1,648.6 ) At December 31, 2019 5.1 459.2 60.1 481.8 38.1 10.4 14.7 101.5 443.8 25.5 321.0 48.2 2,009.4 Accumulated depreciation At December 31, 2018 — (219.4 ) (105.6 ) (518.1 ) (44.6 ) (13.8 ) (38.7 ) (154.5 ) (371.5 ) (11.4 ) (212.5 ) — (1,690.1 ) Depreciation — (15.2 ) (3.7 ) (32.9 ) (4.6 ) (1.0 ) (1.3 ) (7.0 ) (25.2 ) — (12.5 ) — (103.4 ) Disposals — 7.4 4.8 67.7 19.1 3.3 — 42.5 7.3 0.3 9.5 — 161.9 Reclassifications* — (2.9 ) 2.8 5.6 — — 16.9 1.7 — (7.3 ) 11.8 — 28.6 Interest on capitalized assets — (1.6 ) — — — — — — — — — — (1.6 ) Translation adjustments — (1.5 ) — 1.4 (0.1 ) 0.1 — 0.2 (0.1 ) — 5.2 — 5.2 Assets held for sale — 101.6 76.1 174.8 8.7 2.9 19.0 28.4 36.9 — 110.5 — 558.9 At December 31, 2019 — (131.6 ) (25.6 ) (301.5 ) (21.5 ) (8.5 ) (4.1 ) (88.7 ) (352.6 ) (18.4 ) (88.0 ) — (1,040.5 ) Net At December 31, 2018 11.0 530.7 56.8 454.3 29.6 3.5 37.5 35.5 257.6 16.2 438.3 93.7 1,964.7 At December 31, 2019 5.1 327.6 34.5 180.3 16.6 1.9 10.6 12.8 91.2 7.1 233.0 48.2 968.9 * Non-cash As of December 31, 2021, US$ 0,2 |
Assets held for sale
Assets held for sale | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Assets held for sale | 16 Assets held for sale Assets and liabilities directly related to the subsidiaries Embraer Portugal Estruturas Metálicas S.A. (“EEM”) and Embraer Portugal Estruturas em Compósitos S.A. (“EEC”), as detailed in the following table, were designated as assets held for sale in the consolidated financial statements due to the current sales plan to Aernnova Aerospace, SAU, as detailed in Note 1.1.3. These assets and liabilities will be disposed upon the closing of sales transaction, expected to occur in 2022. ASSETS HELD FOR SALE Note 12.31.2021 LIABILITIES HELD FOR SALE 12.31.2021 Cash and cash equivalents 20.3 Trade accounts payable 13.7 Trade accounts receivable, net 0.9 Other payables 2.5 Inventories 59.0 Taxes and payroll charges payable 0.4 Income tax and social contribution 0.5 Unearned income 28.5 Other assets 6.3 TOTAL 45.1 Guarantee deposits 0.2 Deferred income tax and social contribution 24 1.7 Property, plant and equipment, net* 15 141.9 Intangible assets 17 0.1 Net assets to be disposed 185.8 TOTAL 230.9 TOTAL 230.9 * Property, plant and equipment included in the assets held for sale (US$ 187.0) is presented net of impairment losses in the amount of US$ 45.1 measured based on the fair value less cost to sell. |
Intangible assets
Intangible assets | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Intangible assets | 17 Intangible assets Internally developed intangible assets relate to expenditure incurred in developing new aircraft, including support services, production labor, materials and direct labor allocated to the construction of aircraft prototypes or significant components, and also the use of advanced technologies to make the aircraft lighter, quieter, more comfortable and energy-efficient and to reduce emissions, in addition to speeding up design and manufacture, while optimizing the use of resources. 12.31.2021 Internally developed Acquired from third party Commercial Executive Defense and Others Development Software Goodwill Others Total Intangible cost At December 31, 2020 1,126.0 1,339.8 52.0 4.6 10.7 308.1 21.7 136.7 2,999.6 Additions 108.2 16.6 3.8 — 1.6 6.3 — 30.0 166.5 Disposals — — — — — (1.1 ) — — (1.1 ) Impairment — 49.0 — — — — — 4.1 53.1 Interest on capitalized assets — 0.4 — — — — — — 0.4 Translation adjustments — — — — (0.5 ) (1.9 ) (0.3 ) (1.2 ) (3.9 ) Assets held for sale — — — — — (0.8 ) — — (0.8 ) At December 31, 2021 1,234.2 1,405.8 55.8 4.6 11.8 310.6 21.4 169.6 3,213.8 Accumulated amortization At December 31, 2020 (60.5 ) (589.0 ) (43.5 ) (1.5 ) (3.6 ) (212.4 ) — (13.5 ) (924.0 ) Amortization (19.6 ) (34.9 ) (0.4 ) (0.3 ) — (25.1 ) — (6.3 ) (86.6 ) Amortization of contribution from — 10.1 — — — — — — 10.1 Disposals — — — — — 1.0 — — 1.0 Impairment — (2.3 ) — — — — — — (2.3 ) Interest on capitalized assets — (1.3 ) — — — — — — (1.3 ) Translation adjustments — — — — — 1.6 — 0.4 2.0 Assets held for sale — — — — — 0.7 — — 0.7 At December 31, 2021 (80.1 ) (617.4 ) (43.9 ) (1.8 ) (3.6 ) (234.2 ) — (19.4 ) (1,000.4 ) Intangible, net At December 31, 2020 1,065.5 750.8 8.5 3.1 7.1 95.7 21.7 123.2 2,075.6 At December 31, 2021 1,154.1 788.4 11.9 2.8 8.2 76.4 21.4 150.2 2,213.4 Changes presented in the table above classified as assets held for sale refers to: (i) reclassification to assets held for sale of intangible assets involved in the sales transaction of Évora, Portugal, facilities in 2021, as disclosed in Note 1.1.3 and 16, and (ii) reclassification from assets held for sale to intangible assets in 2020 of assets involved in the now terminated sale transaction of the Commercial Aviation to the Boeing Company. 12.31.2020 Internally developed Acquired from third party Commercial Executive Defense Security Others Development Software Goodwill Others Total Intangible cost At December 31, 2019 — 1,292.3 49.3 3.6 9.4 213.7 10.0 75.0 1,653.3 Additions 63.3 13.5 2.7 1.0 1.8 3.1 — 36.0 121.4 Additions - business combination — — — — — 9.4 13.8 7.8 31.0 Disposals — — — — (0.6 ) (1.9 ) — — (2.5 ) Impairment — 6.6 — — — — — (9.5 ) (2.9 ) Interest on capitalized assets — 0.9 — — — — — — 0.9 Translation adjustments — — — — 0.1 1.6 (2.1 ) (1.8 ) (2.2 ) Assets held for sale 1,062.7 26.5 — — — 82.2 — 29.2 1,200.6 At December 31, 2020 1,126.0 1,339.8 52.0 4.6 10.7 308.1 21.7 136.7 2,999.6 Accumulated amortization At December 31, 2019 — (550.1 ) (32.8 ) (1.3 ) (3.7 ) (165.6 ) — (5.7 ) (759.2 ) Amortization (46.6 ) (28.3 ) (10.7 ) (0.2 ) — (38.1 ) — (4.6 ) (128.5 ) Amortization - business combination — — — — — — — (1.2 ) (1.2 ) Amortization of contribution from supplier — 8.3 — — — — — — 8.3 Disposals — — — — 0.1 1.6 — — 1.7 Interest on capitalized assets — (1.1 ) — — — — — — (1.1 ) Translation adjustments — — — — — (1.5 ) — 0.6 (0.9 ) Assets held for sale (13.9 ) (17.8 ) — — — (8.8 ) — (2.6 ) (43.1 ) At December 31, 2020 (60.5 ) (589.0 ) (43.5 ) (1.5 ) (3.6 ) (212.4 ) — (13.5 ) (924.0 ) Intangible, net At December 31, 2019 — 742.2 16.5 2.3 5.7 48.1 10.0 69.3 894.1 At December 31, 2020 1,065.5 750.8 8.5 3.1 7.1 95.7 21.7 123.2 2,075.6 12.31.2019 Internally developed Acquired from third party Commercial Executive Defense Others Development Software Goodwill Others Total At December 31, 2018 1,916.3 1,341.2 43.4 3.5 6.3 350.3 10.4 68.8 3,740.2 Additions 188.2 31.3 5.9 0.1 3.1 19.3 — 35.4 283.3 Contributions from suppliers (4.5 ) — — — — — — — (4.5 ) Disposals — — — — — (2.0 ) — — (2.0 ) Impairment — (55.6 ) — — — — — — (55.6 ) Interest on capitalized assets 4.9 1.9 — — — — — — 6.8 Translation adjustments — — — — — — (0.4 ) — (0.4 ) Assets held for sale (2,104.9 ) (26.5 ) — — — (153.9 ) — (29.2 ) (2,314.5 ) At December 31, 2019 — 1,292.3 49.3 3.6 9.4 213.7 10.0 75.0 1,653.3 Accumulated amortization At December 31, 2018 (1,053.6 ) (512.2 ) (32.4 ) (1.2 ) (2.9 ) (232.8 ) — (6.3 ) (1,841.4 ) Amortization (3.1 ) (75.1 ) (0.4 ) (0.1 ) (0.8 ) (14.4 ) — (2.0 ) (95.9 ) Amortization of contribution from supplier 1.0 21.4 — — — — — — 22.4 Disposals — — — — — 1.2 — — 1.2 Interest on capitalized assets — (2.4 ) — — — — — — (2.4 ) Assets held for sale 1,055.7 18.2 — — — 80.4 — 2.6 1,156.9 At December 31, 2019 — (550.1 ) (32.8 ) (1.3 ) (3.7 ) (165.6 ) — (5.7 ) (759.2 ) Intangible, net At December 31, 2018 862.7 829.0 11.0 2.3 3.4 117.5 10.4 62.5 1,898.8 At December 31, 2019 — 742.2 16.5 2.3 5.7 48.1 10.0 69.3 894.1 |
Impairment of assets
Impairment of assets | 12 Months Ended |
Dec. 31, 2021 | |
Impairment Of Assets [Abstract] | |
Impairment of assets | 18 Impairment of assets For the fiscal year ended on December 31, 2021, the Company p e COVID-19 KC-390 The following chart presents the changes on impairment losses through the year: 12.31.2020 Additions Reversal Amortization 12.31.2021 Cash-generating units Mid-Size Mid-Size 60.4 — (57.9 ) (2.5 ) — Satellites 3 .8 1.6 — — 5.4 64.2 1.6 (57.9 ) (2.5 ) 5.4 Allocation of impairment losses Fixed assets - Machinery and equipment 11.3 — Fixed assets - Tooling 1.5 — Intangibles - Internally developed 51.4 5.4 64.2 5.4 Operating segments (Note 38) Executive Aviation 60.4 — Defense & Security 3.8 5.4 64.2 5.4 As a result of impairment tests performed, the Company identified reversal scenario for the accumulated impairment losses recognized before over the Mid-Size Mid-Size — l l Except for the sensitivity analysis presented as follows of the main CGUs of the Company, the remaining CGUs present headroom falling in range of approximately 50 % to 1 , 00 value-in-use Therefore, Management concluded there was no significant risk of impairment loss in these CGUs, considering the assumptions applied in the sensitivity analysis of this reporting period. The sensitivity analysis presented demonstrates how changes to certain key assumptions in the impairment test of the main CGUs of the Company would change the test results. E2 Platform (Commercial Aviation) The impacts over future cash flows related to the decision to pause for three years in the development of the E175-E2 Key assumption Factor Sensitivity Impact in impairment test Estimated aircraft deliveries during the useful life of platform up to 2045 and keeping current market share — 5% Negative changes of 5% in the estimated volume of deliveries would cause impairment losses of US$ 10 Discount rate 10.7% 100 Increase of 100bps in the discount rate would cause impairment losses of US$ 114 Foreign exchange rate (US$/R$) – rate R$ 5.5805 10% Reduction of 10% in foreign exchange rate (US$/R$) would cause impairment losses of US$ 179 Mid-Size Mid-Size Key assumption Factor Sensitivity Impact in impairment test Estimated aircraft deliveries during the useful life of platform up to 2050 and keeping current market share — 5 % Negative changes of 5% in the estimated volume of deliveries would cause reduction in the CGU headroom from US$ 107 to US$ 27 Discount rate 10.7 % 100 Increase of 100bps in the discount rate would cause reduction in the CGU headroom from US$ 107 to US$ 39 Foreign exchange rate (US$/R$) – rate applied to translate cash flows generated in foreign currency (R$) to the functional currency (US$) R$ 5.5805 10 % Reduction of 10% in foreign exchange rate (US$/R$) would cause reduction in the CGU headroom from US$ 107 to US$ 59 KC-390 Key assumption Factor Sensitivity Impact in impairment test Estimated aircraft deliveries during the useful life of platform up to 2041 and keeping current market share — 5 % Negative changes of 5% in the estimated volume of deliveries would cause reduction in the CGU headroom from US$ 260 to US$ 231 Discount rate 10.7 % 100 Increase of 100bps in the discount rate would cause reduction in the CGU headroom from US$ 260 to US$ 240 Foreign exchange rate (US$/R$) – rate applied to translate cash flows generated in foreign currency (R$) to the functional currency (US$) R$ 5.5805 10 % Reduction of 10% in foreign exchange rate (US$/R$) would cause reduction in the CGU headroom from US$ 260 to US$ 241 Key assumptions of impairment test: • Impairment tests as of December 31, 2021 were prepared based on value-in-use value-in-use • The Company revised the identification of its CGUs for the fiscal year ended on December 31, 2021 and did not identified changes as compared to the structure observed on December 31, 2020, The reclassification of certain assets to held for sale in 2021 did not impact the identification and current structure of CGUs. • Estimated future cash flows were discounted using the weighted average capital cost rate, which is reconciled to an estimate discount pre-tax • Part of the estimated future cash flows were budgeted in Brazilian Reais and converted into Company’s functional currency (US$) based on observable conversion rates on December 31, 2021 of R$ 5.5805. The depreciation of the Real versus the US Dollar occurred in 2021 of 7% has a positive impact on future cash flows due to the reduction of cash outflows indexed in Reais (cost of products sold and general expenses). However, the appreciation of the Real in future periods might cause reduction of future cash flows and possible impairment losses. |
Trade accounts payable
Trade accounts payable | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Trade accounts payable | 19 Trade accounts payable 12.31.2021 12.31.2020 Foreign suppliers 259.0 318.3 Domestic suppliers 99.0 82.7 Risk partners (i) 137.2 101.3 495.2 502.3 (i) The Company’s risk-sharing suppliers/partners develop and produce significant aircraft components, including engines, hydraulic components, avionics, wings, tail sections, interior components, and fuselage parts. Certain contracts between the Company and these risk-sharing suppliers/partners are long-term and include deferral of payments for components and systems for a negotiated term after delivery. Once the risk-sharing suppliers/partners have been selected and the aircraft development and production program has commenced, changing suppliers is more challenging. For example, in the case of engines, the aircraft is specially designed to accommodate a given component, which cannot be easily replaced by another supplier without incurring delays and significant additional expense. This dependence makes the Company vulnerable to the performance, quality and financial position of its risk-sharing suppliers/partners. |
Trade Accounts Payable - Suppli
Trade Accounts Payable - Supplier Finance Arrangements | 12 Months Ended |
Dec. 31, 2021 | |
Text Block 1 Abstract [Abstract] | |
Trade accounts payable – Supplier finance arrangements | 20 Trade accounts payable – Supplier finance arrangements The Company has entered into agreements with financial institutions for the purposes of carrying out commercial operations with domestic and foreign suppliers. During these transactions, suppliers can exclusively transfer at their discretion, the right to receive titles issued against the Company to these financial institutions, which in turn comes to be the creditor of discounted instruments. This operation does not significantly alter the prices and commercial conditions previously negotiated by the Company with its suppliers. As of December 31, 2021, the total amount transferred to the financial institution by suppliers was US$ 14.8 with an average payment period of 120 days . |
Loans and financing
Loans and financing | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Loans and financing | 21 Loans and financing Contractual Effective Currency interest rate - % interest rate - % Maturity 12.31.2021 12.31.2020 Other currencies: Guaranteed Notes US$ 5.05% to p.a. 5.05% to p.a. 2028 (i) 3,283.5 3,289.0 2.41% to p.a. 2.43% to p.a. 2030 197.1 225.2 Working capital Libor 1M + 1.30% p.a. Libor 1M + 1.30% p.a. 2023 (ii) 50.2 96.0 US$ Libor 3M + 4.50% p.a. Libor 3M + 4.50% p.a. 2021 — 94.1 0.00% 0.00% 2021 — 14.1 Libor 6M + 2.60% p.a. Libor 6M + 2.60% p.a. 2027 100.8 100.8 Euro Euribor 12 M + 1.31% p.a. to p.a. Euribor 12 M + 1.31% to p.a. 2027 26.1 22.3 Export financing US$ Libor 3 M and 6 M +1.76% p.a. Libor 3 M and 6 M 2024 (ii) 313.2 472.1 Property. plant and US$ SIFMA Libor 1M + % p.a. SIFMA Libor 1M + p.a. 2037 37.7 50.9 4,008.6 4,364.5 In local currency: Working capital CDI + 0.42% p.a. CDI + 0.42% p.a. 2021 — 0.6 R$ 7.96% a 17.32% aa 7.96% a 17.32% p.a. 2021 — 2.4 IPCA + 0.89% p.a. p.a. IPCA + 0.89% p.a. p.a. 2021 — 0.8 R$ CDI + 2.60 % p.a. CDI + 2.60% p.a. 2026 3.6 — Project development 3.5 % p.a. 3.5% p.a. 2023 14.1 24.5 R$ IPCA + 5.92 % p.a. IPCA + 5.92% p.a. 2027 0.6 0.6 Guaranteed Notes IPCA + 10.00 % p.a. IPCA + 10.00% p.a. 2021 — 2.1 Export financing CDI + 3.60 % p.a. CDI + 3.60% p.a. 2021 — 52.5 18.3 83.5 Total 4,026.9 4,448.0 Current portion 574.2 375.5 Non-current 3,452.7 4,072.5 (i) Issuance of Bonds: Between August and September 2013, through its subsidiary Embraer Overseas Limited, Embraer made an offer to exchange existing bonds maturing in 2017 (settled in January 2017) and 2020 for “New Notes” maturing in 2023. In the case of bonds maturing in 2017, the exchange offer resulted in US$ 146.4 of the aggregate principal of existing notes and US$ 337.2 of the aggregate principal of the 2020 Notes, representing approximately 54.95% of the Notes exchanged. The total of the exchange offer, considering the effects of the exchange price on the negotiations and the total New Notes issued closed at approximately US$ 540.5 in principal at a rate of 5.696% p.a., maturing on September 16, 2023. In September On June 15, 2012, Embraer raised funds by issuing guaranteed notes, maturing on June 15, 2022, through an overseas offer of In June 2015, the Company’s wholly owned finance subsidiary Embraer Netherlands Finance B.V, which only performs financial In February 2017, Embraer Netherlands Finance B.V., Embraer subsidiary, issued an offering of US$ 750.0 with a nominal interest rate of I n September 2020, the Company’s wholly owned finance subsidiary Embraer Netherlands Finance B.V, which only performs financial (ii) In 2020, the Company finalized the terms of working capital and export financing agreements in an aggregate principal amount of up to US$ Banco Nacional de Desenvolvimento Econômico e Social On December 31, 2021, 2020 and 2019, the changes in loans and financing were as follows: 12.31.2021 12.31.2020 12.31.2019 Opening balance 4,448.0 91.0 3,647.6 Principal addition 60.4 2,093.1 400.5 Interest addition 200.2 197.2 186.3 Principal payment (478.2 ) (1,061.8 ) (645.9 ) Interest payment (207.4 ) (173.2 ) (188.1 ) Foreign exchange 18.0 (6.5 ) (8.2 ) Liabilities held for sale — 3,301.2 (3,301.2 ) Business Combination — 7.0 — Transfer (14.1 ) — — Total 4,026.9 4,448.0 91.0 On December 31, 2021, 2020 and 2019, the changes in lease liabilities were as follows: 12.31.2021 12.31.2020 12.31.2019 Opening balance 64.7 38.6 57.6 Additions 14.4 27.8 18.1 Additions - business combination — 1.6 — Disposals (1.7 ) (3.8 ) (17.3 ) Interest expense 3.0 2.8 6.0 Payments (10.4 ) (9.0 ) (11.8 ) Assets and liabilities held for sale — 9.4 (9.4 ) Translation adjustments (6.2 ) (2.7 ) (4.6 ) Total 63.8 64.7 38.6 Current portion 11.5 11.4 5.0 Non-current 52.3 53.3 33.6 As of December 31, 2021, the maturity schedules of the long-term financing were: Year 2023 490.9 2024 316.2 2025 1,005.1 Thereafter 2025 1,640.5 3,452.7 2 1 On December 31, 2021, loans denominated in US dollars (98.9% of the total) are mainly subject to floating interest rates. The weighted average rate was 5.16% p.a. (5.03% p.a. on December 31, 2020). On December 31, 2021, loans denominated in Reais (0.4% of the total) are subject to interest rate based on the Brazilian Long-term Interest Rate (“TJLP”) and CDI. The weighted average rate was 5.24% p.a. (2.51% p.a. on December 31, 2020). On December 31, 2021, loans denominated in Euros (0.6% of the total) had a weighted average interest rate of 0.29% p.a. (zero percent on December 31, 2020). Real estate, machinery, equipment, commercial pledges, and bank guarantees totaling US$ 452.9 as of December 31, 2021 (US$ 502.8 as of December 31, 2020) were provided as collateral for loans. 2 1 Loans and financing contracts are subject to restrictive clauses, consistent with usual market practices and includes normal restrictions on the creation of new liens on assets, significant changes in the Company’s share control, significant sale of assets and payment of dividends in excess the minimum required by law in cases of default in financing and in transactions with controlled companies. As of December 31, 2021, none of the Company’s loans and financing contracts has financial indicators in the restrictive clauses. As of December 31, 2021, the Company and subsidiaries were in compliance with all the restrictive clauses, according to the contracts clauses. |
Other payables
Other payables | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other payables | 22 Other payables 12.31.2021 12.31.2020 Provisions related to payroll (i) 105.0 96.8 Other accounts payable (ii) 41.2 55.9 Provision for employee profit sharing 26.0 15.7 Mutual with jointly controlled operation 25.7 25.2 Long-term incentive (iii) 24.9 7.9 Commission payable 21.9 18.8 Non-controlling 17.1 22.2 Contractual obligations (v) 14.8 16.2 Recourse and non-recourse 9.9 13.9 Insurance 7.2 13.3 Brazilian air force 4.8 3.3 Accounts payable of acquisitions (deferred consideration) 0.4 3.0 298.9 292.2 Current portion 241.3 249.9 Non-current 57.6 42.3 (i) Refers to personnel obligations and their respective charges recorded in the financial statements. (ii) Represents a provision for expenses already incurred as of the date of the consolidated financial statements and for which payments are made during the following month. (iii) Refers to the share-based payment program granted to certain employees of the Company in the form of phantom shares as described in Note 29. (iv) As part of the acquisition of control of Tempest Serviços de Informática S.A. and its subsidiaries, which was concluded in 2020, the Company received call options and granted put options to non-controlling lock-up non-controlling non-controlling (v) Represents amounts recorded regarding contractual obligations assumed by the Company in contracts with customers mainly related to commercial concessions and costs to obtain contracts. |
Taxes and payroll charges payab
Taxes and payroll charges payable | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Taxes and payroll charges payable | 23 Taxes and payroll charges payable 12.31.2021 12.31.2020 INSS (social security contribution) (i) 27.9 55.8 IRRF (withholding tax) 8.1 7.4 PIS and COFINS (ii) 4.0 8.0 IPI (manufacturing tax) 0.7 0.3 FGTS (government employee severance indemnity fund) 3.1 2.4 Others 6.6 9.8 50.4 83.7 Current portion 40.4 71.9 Non-current 10.0 11.8 The Company is challenging, through both administrative and judicial proceedings, the constitutionality of the tax calculation base and its expansion, as well as the rate increase of certain taxes, social contributions, and charges, with the aim of ensuring its right to withhold payment or recover amounts paid in previous years. By means of such administrative and judicial proceedings, the Company has obtained injunctions and similar measures to suspend payment or offset payment of taxes and social contributions and charges. Provisions have been recorded for taxes not paid, as a result of preliminary legal decisions, and are updated based on the SELIC interest rate, pending a final and definitive decision. In some cases, the Company maintains judicial deposit for the continuity of the judicial proceedings. (i) Corresponds substantially to: • Since February 2009, the Company filed a suit contesting the payment of social security on paid notice of dismissal and other indemnity payments. In October 2015 the Company obtained partial success in the dispute in relation to the employer’s portion of the Social Security on the paid notice, and therefore reduced the amount of the provision by US$ 2.5. The partial success was ratified in November 2017. Currently, the remaining amount involved in the dispute in respect of the notice established in the collective agreement and 1/3 of vacation benefit and other benefits is US$ 9.8 on December 31, 2021 (US$ 11.6 on December 31, 2020). In 2021 the reduction observed relates to favorable outcome to the Company of the notice established in the collective agreement in the amount of US$ 1.7. Included in the amounts presented as INSS, there are also discussions of several notices received related to withhold taxes in the payment of third-party services (tax rate of 11%) in the updated amount of US$ . • As highlight of 2021, the Company received favorable outcome in the discussion to guarantee the right to not collect social security contributions according to the system established by Law 13,670 / 2018 in 2018 (maintenance of the Social Security Contribution on Gross Revenue - CPRB until 12/31/2018). The amount involved in the discussion until March 2021 was US$ 27.2 and was divided into two separated legal demands. As of December 31, 2021, the amount involved and recorded as taxes and payroll charges payable is US$ on May 2021 (ii) Refers to: • Contributions to the PIS/PASEP fund (Social Integration Program / Public Servant Fund). The dispute, involving the calculation base for the non-cumulative With respect to the legal disputes mentioned above, the tax payable will be recorded until there is an favorable outcome of the demands to the Company and no further appeals can be made. |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Income taxes | 24 Income taxes As the tax basis for the majority of the Company’s assets and liabilities is maintained in reais and the accounting basis is measured in US dollars (functional currency), the fluctuations in the exchange rate significantly impacted the tax basis and, in turn, the deferred income tax expense (benefit). Deferred tax assets relating to temporary differences on non-deductible 24.1 Deferred income tax and social contribution The components of deferred tax assets and liabilities are as follows: 12.31.2021 12.31.2020 Temporarily non-deductible 155.3 133.7 Tax loss carryforwards 7.1 0.5 Functional currency effect of the non-monetary (529.1 ) (509.3 ) Gains not realized from sales of the Company to subsidiaries 14.7 14.5 Effect of differences by fixed asset (21.4 ) 14.1 Differences between basis: account x tax (33.1 ) (23.6 ) Assets and liabilities held for sale (1.7 ) — Deferred tax assets (liabilities), net (408.2 ) (370.1 ) Total deferred tax asset 97.6 104.6 Total deferred tax liability (505.8 ) (474.7 ) (i) Temporary differences Changes in deferred income tax that affected profit or loss were as follows: From the statement of income Other comprehensive income Total At December 31, 2018 (250.2 ) 17.8 (232.4 ) Temporarily non-deductible 43.1 — 43.1 Tax loss carryforwards 1.1 — 1.1 Functional currency effect of the non-monetary 16.4 — 16.4 Provision Gain not realized at sales from Controlling company to subsidiaries 0.4 — 0.4 Effect of differences by fixed asset (23.4 ) — (23.4 ) Differences between basis: account x tax (70.8 ) (2.8 ) (73.6 ) Discontinued operation (30.7 ) 27.5 (3.2 ) At December 31, 2019 (314.1 ) 42.5 (271.6 ) Temporarily non-deductible 68.5 — 68.5 Tax loss carryforwards 0.3 — 0.3 Functional currency effect of the non-monetary (211.9 ) — (211.9 ) Gains not realized from sales of Parent Company to subsidiaries (8.6 ) — (8.6 ) Effect of differences by fixed asset 26.1 — 26.1 Differences between basis: account x tax 20.9 6.2 27.1 At December 31, 2020 (418.8 ) 48.7 (370.1 ) Temporarily non-deductible 21.6 — 21.6 Tax loss carryforwards 6.6 — 6.6 Functional currency effect of the non-monetary (19.8 ) — (19.8 ) Gains not realized from sales of Parent Company to subsidiaries 0.2 — 0.2 Effect of differences by fixed asset (35.5 ) — (35.5 ) Differences between basis: account x tax (11.5 ) 2.0 (9.5 ) Discontinued operation (1.7 ) — (1.7 ) At December 31, 2021 (458.9 ) 50.7 (408.2 ) 24.2 Recoverability of deferred tax assets In order to recognize deferr e 24.3 Reconciliation of income tax expense 12.31.2021 12.31.2020 12.31.2019 Loss before income tax 27.4 (635.2 ) (186.2 ) Income tax and social contribution at the nominal Brazilian enacted tax rate - (9.3 ) 216.0 63.3 Tax on profits of overseas subsidiaries (92.1 ) (21.3 ) (72.3 ) Transfer Pricing and Thin Capitalization (36.3 ) (47.7 ) — Functional currency effect of the non-monetary (60.0 ) (250.4 ) 16.4 Research and development tax incentives 1.2 1.6 23.0 Equity in the earnings of subsidiaries 0.4 0.8 — Fiscal credits (recognized and non recognized) (68.2 ) (104.6 ) (16.7 ) Tax rate difference 28.2 10.4 6.6 Other differences between accounting and fiscal basis (i) 165.2 195.6 (150.6 ) Effects of Dropdown (ii) — (93.5 ) — (61.6 ) (309.1 ) (193.6 ) Income tax and social contribution income (expense) benefit as reported (70.9 ) (93.1 ) (130.3 ) Current income tax and social contribution expense as reported (32.5 ) 11.6 (97.1 ) Deferred income tax and social contribution income (expense) benefit as reported (38.4 ) (104.7 ) (33.2 ) (i) Other differences between accounting and fiscal basis mainly refer to: permanent additions and exclusions, realization of foreign exchange gain or loss and differences between accounting basis and fiscal treatments in the income tax calculation (depreciation of fixed assets, provision for inventory losses, among others). (ii) Effects of Dropdown include tax impacts of the internal carve-out 24.4 Uncertainty over income tax treatments (IFRIC 23) The Company and its subsidiaries held certain discussions with Brazilian tax authorities over administrative and judicial matters related to uncertain treatments adopted when calculating income tax and social contribution on net income, their prognostic assessment was that the chosen tax positions will probably be accepted by the authorities, based on internal and external evaluation by legal advisors. A summary of these processes, related contingent liabilities and their potential effects is presented in Note 26.2 (ii), (iii), (iv), (v). |
Financial Guarantees and Residu
Financial Guarantees and Residual Value Guarantees | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Financial Guarantees and Residual Value Guarantees | 25 Financial guarantees and residual value guarantees 12.31.2021 12.31.2020 Financial guarantee of residual value — 86.2 Accounts payable (i) 18.7 33.7 Financial guarantee — 4.4 Additional provision (ii) — 0.9 18.7 125.2 Current portion 15.8 42.6 Non-current 2.9 82.6 (i) Accounts payable of residual value guarantees negotiated and settled with certain counterparties. (ii) Additional provision recorded as a result of losses incurred by the Company with claims of financial guarantees by creditors of certain customers that defaulted in 2020, which was settled by the Company during 2021, as disclosed on the changes schedule below. Changes on the financial guarantees and residual value Financial Financial Accounts Additional provision Total At December 31, 2018 11.6 125.4 15.1 — 152.1 Interest Additions — — 0.6 — 0.6 Cash settlements — — (15.7 ) — (15.7 ) Market value — 4.2 — — 4.2 Guarantee amortization (0.9 ) — — — (0.9 ) Liabilities held for sale (10.7 ) (129.6 ) — — (140.3 ) At December 31, 2019 — — — — — Interest Additions 3.2 — — 5.9 9.1 Cash settlements — — — (5.0 ) (5.0 ) Reclassifications — (33.7 ) 33.7 — — Market value — (9.7 ) — — (9.7 ) Guarantee amortization (9.5 ) — — — (9.5 ) Liabilities held for sale 10.7 129.6 — — 140.3 At December 31, 2020 4.4 86.2 33.7 0.9 125.2 Additions — — — 0.4 0.4 Cash settlements — — (49.5 ) (1.3 ) (50.8 ) Reversals (2.4 ) (50.6 ) — — (53.0 ) Reclassifications — (34.3 ) 34.3 — — Market value — (1.3 ) 0.2 — (1.1 ) Guarantee amortization (2.0 ) — — — (2.0 ) At December 31, 2021 — — 18.7 — 18.7 Reversal of residual value guarantees occurred during the fiscal year mainly relates to settlement agreement of certain guarantees signed by the Company, which generated a reversal of US$ 50.3 in the previous liability recognized (Note 1.1.2). |
Provisions and contingent liabi
Provisions and contingent liabilities | 12 Months Ended |
Dec. 31, 2021 | |
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Provisions and contingent liabilities | 26 Provisions and contingent liabilities 26.1 Provision 12.31.2021 12.31.2020 Product warranties (i) 77.5 73.9 Provisions for labor, taxes and civil (ii) 53.7 55.4 Taxes (iii) 36.6 34.5 Post retirement benefits 39.4 27.9 Environmental provision 0.7 1.4 Others 21.5 19.6 229.4 212.7 Current portion 108.9 98.5 Non-current 120.5 114.2 (i) Recorded to cover product-related expenditure, including warranties and contractual obligations to implement improvements to aircraft delivered in order to meet performance targets. (ii) Provisions for labor, tax or civil contingencies, as shown in the table below Note 26.1.1. (iii) Accrual of tax provisions mainly relates to indirect taxes recognized in relation to revenue recognition of long-term contracts. Changes in provision: Product Provisions Post retirement Taxes Environment Others Total At December 31, 2018 98.0 58.4 31.7 31.4 2.4 20.5 242.4 Additions 54.2 23.8 — 63.9 2.3 — 144.2 Interest — 5.2 2.2 — — — 7.4 Used/payments (29.7 ) (7.1 ) — (54.0 ) (1.7 ) (0.4 ) (92.9 ) Reversals (43.2 ) (10.6 ) (1.8 ) — — — (55.6 ) Translation adjustments (0.2 ) (1.9 ) (0.7 ) 0.4 (0.1 ) (0.6 ) (3.1 ) Reclassification - Liabilities held for sale (12.0 ) (1.4 ) (19.7 ) — (2.6 ) (3.8 ) (39.5 ) At December 31, 2019 67.1 66.4 11.7 41.7 0.3 15.7 202.9 Additions 42.0 8.5 2.5 147.2 0.4 4.5 205.1 Interest — 5.4 3.6 — — — 9.0 Used/payments (30.4 ) (4.7 ) (2.2 ) (154.4 ) (0.6 ) — (192.3 ) Reversals (15.8 ) (8.0 ) — — (0.4 ) — (24.2 ) Translation adjustments (1.0 ) (13.6 ) (7.4 ) — (0.9 ) (4.4 ) (27.3 ) Reclassification - Liabilities held for sale 12.0 1.4 19.7 — 2.6 3.8 39.5 At December 31, 2020 73.9 55.4 27.9 34.5 1.4 19.6 212.7 Additions 43.3 6.0 11.8 37.9 0.5 1.9 101.4 Interest — 3.8 1.7 — — — 5.5 Used/payments (25.9 ) (4.8 ) (0.3 ) (32.4 ) (0.9 ) — (64.3 ) Reversals (13.6 ) (2.7 ) — — — — (16.3 ) Translation adjustments (0.2 ) (4.0 ) (1.7 ) (3.4 ) (0.3 ) — (9.6 ) At December 31, 2021 77.5 53.7 39.4 36.6 0.7 21.5 229.4 26.1.1 Labor, tax and civil provisions 12.31.2021 12.31.2020 Tax related IRPJ (i) 10.5 10.8 PIS and COFINS 7.3 4.2 Social security contributions (ii) 1.7 1.8 Import taxes (iii) 0.6 0.6 Others 2.1 0.2 22.2 17.6 Labor related Plurimas 461/1379 (iv) 6.7 6.5 Reintegration (v) 6.9 5.7 Overtime (vi) 3.9 6.2 Dangerousness (vii) 2.0 1.3 Indemnity (viii) 3.8 4.9 Third parties 1.0 1.5 Others 7.0 11.5 31.3 37.6 Civil related Indemnity (ix) 0.2 0.2 0.2 0.2 53.7 55.4 Current portion 18.7 16.7 Non-current 35.0 38.7 (i) The Company has obtained an injunction to suspend collection of withholding tax related to values transferred overseas. The related legal demand is pending completion. (ii) During 2002, the Company was notified by the authorities for failing to withhold social security contributions from service providers, being two notifications already closed and the remaining pending completion. In 2021, there was an addition of provision related to a process of social security related to one of the Company’s subsidiaries in the amount of US$ 1.0. (iii) Deficiency and Penalty Notices issued against the Company involving the drawback regime, disputing possible differences in relation to the tax classification of certain products and is at the analysis stage in the Federal Supreme Court - STJ ( Supremo Tribunal de Justiça (iv) Refers to claims for backdated salary increases and productivity payments, brought by former employees. (v) Suits brought by former employees claiming reinstatement with the Company for various reasons. (vi) Requests for payment of alleged differences in relation to overtime. (vii) Requests that seek recognition of hazardous activity. (viii) Indemnity claims in connection with alleged work-related accidents, pain and suffering, etc. (ix) Other indemnity claims brought by parties that had some type of legal relationship with the Company. The tax, labor and civil provisions are recorded in accordance with the Company’s accounting policy and the amounts shown here represent the estimated amounts that the Company’s legal department, supported by its external counsel, expect the Company to have to disburse to settle the lawsuits. 26.2 Contingent liabilities Contingent liabilities are amounts classified as possible losses, in accordance with the Company’s accounting policy, in the opinion of the Company’s legal department, supported by its external counsel. When the contingent liability arises from the same set of circumstances as an existing provision, the type of the corresponding provision is indicated at the end of the description. The Company’s main contingent liabilities are listed below: (i) The Company has a legal dispute over AIIM on SAT / Agentes Nocivos (ii) The Company has a dispute about the transfer price calculation from the year 2009 in the amount of US$ 7.7 on December 31, 2021 (US$ 8.0 on December 31, 2020). (iii) The Company is involved in a legal dispute related to tax credits paid by its subsidiaries abroad amounting to US$ 82.7 on December 31, 2021 (US$ 86.8 on December 31, 2020). (iv) The Company has a dispute on the 2007 Tax Assessment Notice regarding the validity of the provisions contained in the Normative Instruction No. 213/02, which determined the taxation of profits from abroad through the application of Brazilian rules. The dispute involves transfer pricing in loans between associates, equity method, among others. On September 1, 2010, decadence had been accepted to exclude the requirements of the first three quarters of 2002, and it was determined to carry out diligence to collect information requested by the National Treasury Attorney ( Procuradoria da Fazenda Nacional (v) The Company has a discussion on the disallowance of credits launched in several PERDCOMPs (electronic request for reimbursement or refund and tax offset statement program in Brazil) in the amount of US$ 58.1 on December 31, 2021 (US$ 56.8 on December 31, 2020). (vi) Other tax lawsuits in the amount of US$ 7.0 on December 31, 2021 (US$ 0.5 as of December 31, 2020). In addition, on February 2021, the Company received tax notice related to supposed claims of ICMS DIFAL in 2016 in the updated amount of US$ 6.0 on December 31, 2021. However, the Brazilian Supreme Court ( Supremo Tribunal Federal (vii) The Company has contingent liabilities amounting to US$ 20.7 on December 31, 2021 (US$ 26.8 on December 31, 2020) related to several labor claims. Items (ii), (iii), (iv) and (v) described above relates to income tax matters as disclosed in Note 24.4. 26.3 FCPA investigations and settlements In October 2016, the Company entered into definitive agreements with the United States and Brazilian authorities for the resolution of criminal and civil violations of the United States (Foreign Corrupt Practices Act of 1977 or FCPA) and for the resolution of allegations regarding violations of certain Brazilian laws in four aircraft transactions outside Brazil between 2007 and 2011. In February 2017, the Company entered into an Exoneration Agreement with the Mozambican authorities for collaboration with the investigations in that country and under which there are no financial obligations for Embraer. In July 2018, the Company and the Attorney General’s Office of the Dominican Republic entered into a collaboration agreement whereby the Company undertook to collaborate with the investigations in that country. Related proceedings and developments are ongoing and could result in additional fines and other sanctions and adverse consequences, which may be substantial. The Company believes that there is no adequate basis at this time for estimating accruals or quantifying any contingencies with respect to these matters and its developments. The Company will continue to cooperate with governmental authorities, as circumstances may require 26.4 Arbitration Proceedings - The Boeing Company (“Boeing”) Embraer is pursuing all appropriate remedies against Boeing for damages suffered by Embraer due to wrongful termination and violation of the MTA and Contribution Agreement by Boeing, including by means of arbitration proceedings initiated by both sides in connection with the termination of the MTA and/or the Contribution Agreement by Boeing. There are no guarantees with respect to the timing or outcome of arbitration proceedings or any remedies that Embraer may receive or loss that Embraer may suffer as a result of or in connection with such arbitration proceedings. 26. 5 26. 5 The Company provided healthcare plan for employees in Brazil, which based on its conditions, is classified as a post-employment benefit. Under this healthcare plan, employees who retire from the Company have the option of remaining in the plan, contributing the full amount charged by the insurance company. However, due to certain rules for increases under Brazilian law, there could be times the contribution made by the retired employees is insufficient to cover the medical plan costs, which would represent exposure for the Company. The actuarial liability recognized as of December 31, 2021 was US$ 36.5 (US$ 24.7 as of December 31, 2020). The increase observed in 2021 is related to remeasurement of the plan based on updated actuarial assumptions and increase of inflation associated with healthcare. Embraer Aircraft Holding, Inc. (domiciliated in the United States of America) sponsors a post-retirement healthcare plan for employees hired up to 2007. The expected costs of pension and provision of post-employment medical benefit for the individual employees and their dependents are provided on an accrual basis based on actuarial studies and the calculation is reviewed annually. The actuarial liability recognized as of December 31, 2021 was US$ 2.9 (US$ 3.2 as of December 31, 2020). 26. 5 The Company and certain subsidiaries in Brazil sponsor a defined contribution pension plan for their employees, participation in which is optional. The Company’s contributions to the plan for the years ended December 31, 2021 and 2020 were US$ 12.0 and US$ 12.3, respectively. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Financial Instruments | 27 Financial instruments 27.1 Financial instruments by category 12.31.2021 Note Amortized Fair value Fair value Total Assets Cash and cash equivalents 5 1,816.0 2.3 — 1,818.3 Financial investments 6 79.4 541.0 196.0 816.4 Guarantee Deposits 3.0 — — 3.0 Contract assets 31 582.3 — — 582.3 Trade accounts receivable, net 7 189.0 — — 189.0 Customer and commercial financing 9 32.0 — — 32.0 Derivative financial instruments 8 — — 0.1 0.1 Other Assets 11 50.7 — — 50.7 2,752.4 543.3 196.1 3,491.8 Liabilities Loans and financing 21 4,026.9 — — 4,026.9 Trade accounts payable and other liabilities 808.9 17.1 — 826.0 Lease Liability 63.8 — — 63.8 Financial guarantee and r e 25 18.7 — — 18.7 Derivative financial instruments 8 — — 5.9 5.9 Other liabilities 218.9 — — 218.9 5,137.2 17.1 5.9 5,160.2 12.31.2020 Note Amortized Fair value Fair value Total Assets Cash and cash equivalents 5 1,883.1 — — 1,883.1 Financial investments 6 51.8 513.0 304.4 869.2 Guarantee Deposits 1.7 — — 1.7 Collateralized accounts receivable 13.9 — — 13.9 Contract assets 31 461.8 — — 461.8 Trade accounts receivable, net 7 203.4 — — 203.4 Customer and commercial financing 9 29.9 — — 29.9 Derivative financial instruments 8 — — 9.6 9.6 Other Assets 11 52.0 — — 52.0 2,697.6 513.0 314.0 3,524.6 Liabilities Loans and financing 21 4,448.0 — — 4,448.0 Trade accounts payable and other liabilities 772.3 22.2 — 794.5 Lease liability 64.7 — — 64.7 Financial guarantee and of residual value 25 34.6 — 86.2 120.8 Derivative financial instruments 8 — — 9.9 9.9 Other liabilities 222.5 — — 222.5 5,542.1 22.2 96.1 5,660.4 27.2 Fair value of financial instruments The fair value of the Company’s fin a The following methods were used to estimate the fair value of each category of financial instrument for which it is possible to estimate the fair value. The carrying amounts of cash, financial investments, accounts receivable, contract assets, customer and commercial financing, other financial assets and current liabilities are approximately at their fair values. The methods below were used to estimate the fair value of other class of financial instruments for which fair value is adopted. Financial investments – The fair value of securities measured at amortized cost is estimated by the discounted cash flow methodology. For investments in corporate bonds, the unit price on the last trading day at the end of the reporting period is multiplied by the amount invested. Loans and financing – The fair value of bonds is the unit price on the last trading day at the end of the reporting period multiplied by the quantity issued. For other loans and financing, fair value is based on the amount of contractual cash flows and the discount rate used is based on the rate for contracting of a new transaction in similar conditions or in the lack thereof, on the future curve for the flow of each obligation. The Company considers “fair value” to be the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. The Company is able to classify fair value balances based on the observable inputs. The three Levels of the fair value hierarchy are as follows: • Level 1 • Level 2 non-exchange over-the-counter • Level 3 The following table lists the Comp a 12.31.2021 Note Level 2 Level 3 Total Fair value Fair value Book value Assets Cash and cash equivalents 5 2.3 — 2.3 1,816.0 1,818.3 1,818.3 Financial investments 6 642.1 94.9 737.0 79.4 819.6 816.4 Guarantee Deposits — — — 3.0 3.0 3.0 Contract assets 31 — — — 582.3 582.3 582.3 Trade accounts receivable, net 7 — — — 189.0 189.0 189.0 Customer and commercial financing 9 — — — 32.0 32.0 32.0 Derivative financial instruments 8 0.1 — 0.1 — 0.1 0.1 Other Assets 11 — — — 50.7 50.7 50.7 644.5 94.9 739.4 2,752.4 3,495.0 3,491.8 Liabilities Loans and financing 21 — — — 4,026.9 4,229.8 4,026.9 Trade accounts payable and other liabilities — 17.1 17.1 808.9 826.0 826.0 Lease Liability — — — 63.8 63.8 63.8 Financial guarantee and of residual value 25 — — — 18.7 18.7 18.7 Derivative financial instruments 8 5.9 — 5.9 — 5.9 5.9 Other liabilities — — — 218.9 218.9 218.9 5.9 17.1 23.0 5,137.2 5,363.1 5,160.2 12.31.2020 Note Level 2 Level 3 Total Fair value Fair value Book value Assets Cash and cash equivalents 5 — — — 1,883.1 1,883.1 1,883.1 Financial investments 6 761.5 55.9 817.4 51.8 869.2 869.2 Guarantee Deposits — — — 1.7 1.7 1.7 Collateralized accounts receivable — — — 13.9 13.9 13.9 Contract assets 31 — — — 461.8 461.8 461.8 Trade accounts receivable, net 7 — — — 203.4 203.4 203.4 Customer and commercial financing 9 — — — 36.3 36.3 29.9 Derivative financial instruments 8 9.6 — 9.6 — 9.6 9.6 Other assets 11 — — — 52.0 52.0 52.0 771.1 55.9 827.0 2,704.0 3,531.0 3,524.6 Liabilities Loans and financing 21 — — — 4,448.0 4,319.7 4,448.0 Trade accounts payable and other liabilities — 22.2 22.2 772.3 794.5 794.5 Lease Liability — — — 64.7 64.7 64.7 Financial guarantee and of residual value 25 — 86.2 86.2 34.6 120.8 120.8 Derivative financial instruments 8 9.9 — 9.9 — 9.9 9.9 Other liabilities — — — 222.5 222.5 222.5 9.9 108.4 118.3 5,542.1 5,532.1 5,660.4 Fair value of financial Assets Liabilities At 12.31.2019 60.6 — Adding Shares — 22.2 Changes in fair value (4.1 ) (9.7 ) Exchange variation (0.6 ) — Reclassification — (33.7 ) Reclassification from held for sale — 129.6 At 12.31.2020 55.9 108.4 Reversal — (50.1 ) Transfer — (33.6 ) Changes in fair value 35.2 (3.9 ) Exchange variation 3.8 (3.7 ) At 12.31.2021 94.9 17.1 27.3 Financial risk management policy The Company has and follows a risk management policy, which involves the diversification of transactions and counterparties, with the objective of identifying the risks related to the financial transactions, as well as the operational directives related to these financial transactions. The policy provides for regular monitoring and management of the nature and general situation of the financial risks in order to assess the results and the financial impact on cash flows. The credit limits and risk rating of the counterparties are also reviewed periodically. The Company’s risk management policy is part of the financial management policy established by the Executive Directors and approved by the Board of Directors and provides for monitoring by a Financial Management Committee. Under this policy, the market risks are mitigated when there are no offsetting elements in the Company’s operations and when it is considered necessary to support the corporate strategy. The Company’s internal control procedures provide for consolidated monitoring and supervision of the financial results and of the impact on cash flows. The Financial Management Committee assists the Financial Department in examining and reviewing information in relation to the economic scenario and its potential impact on the Company’s operations, including significant risk management policies, procedures, and practices. The financial risk management policy includes the use of derivative financial instruments to mitigate the effects of interest rate fluctuations and to reduce the exposure to exchange rate risk. The use of these instruments for speculative purposes is forbidden. 27.3.1 Capital management The Company uses capital management to ensure the continuity of its investment program and offer a return to its shareholders and benefits to its stakeholders and to maintain an optimized capital structure in order to reduce costs. The Company may review its dividends payment policy, payback capital to the shareholders, issue new shares or sell assets in order to maintain or adjust its capital structure (to reduce indebtedness, for instance). Liquidity and the leverage level are constantly monitored in order to mitigate refinancing risk and to maximize the return to the shareholders. The ratio between the liquidity and the return to the shareholders may be changed pursuant to the assessment of the Board of Directors. As of December 31, 2021, the cash and cash equivalents and financial investments were lower than the financial indebtedness of the Company (net debt) by US$1,392.2 (US$ 1,695.7 as of December 31, 2020). Of the total financial indebtedness as of December 31, 2021, 14% was short-term ( 8.5 27.3.2 Credit risk Credit risk is the risk of a counterparty to a transaction not meeting an obligation established in a financial instrument, or in the negotiation of sales to customers, leading to a financial loss. The Company is exposed to credit risk in its operational activities, cash held in banks and other investments in financial instruments held in financial institutions. • Cash and cash equivalents and financial investments The credit risk of cash and cash equivalents and financial investments which is managed by the Financial Department is in accordance with the risk management policy. The credit limit of counterparties is reviewed on a daily basis in order to not to exceed the limits established mitigating possible losses generated by the bankruptcy of a counterparty, as well as transactions are carried out with counterparties with investment Fitch Moody’s Standard and Poor’s • Trade accounts receivable, contract assets with customers and customer and commercial financing The Company may incur losses on amounts receivable from sales of spare parts and services to customers. To reduce the risk, Management performs an internal credit risk analysis which considers qualitative factors, such as past experiences, and quantitative factors, when applicable, related to external financial information. If the risk increases and/ or the customer present overdue amounts, the supply of spare parts and services can be stopped by the Company, which impacts its fleet operations. The Company applies IFRS 9 simplified approach to the measurement of expected credit losses on trade accounts receivable balances (Note 7) without significant financing component. In order to calculate the expected credit losses, receivables are grouped by the period the items are outstanding, and an expected loss factor is applied based on actual credit loss experiences of each past period, which gradually increases as long as the receivable remains outstanding in portfolio. For receivables not overdue, the expected credit loss is calculated using past 10 years’ experience of losses and monitoring of forward trends. As of December 31, 2021, the initial expected loss factor under the methodology was 1.3 % (1.4% in 2020), except for the customers of the Commercial Aviation business unit. As a result of the economic downturn environment generated by the crisis of the COVID-19 case-by-case reversal of expected credit losses provision was recognized due to the beginning of recovery out of the crisis and related improvements in the credit risk of customers, as disclosed in Note 7. Contract assets refer to contracts in progress that have not been billed, mainly related to development contracts recognized over time in the Defense & Security segment. The credit risk characteristic of the Company’s customers is different for the Defense & Security segment, since the counterparties refer only to government entities and agencies. The risk in this case is associated with the sovereign risk of each country, especially Brazil, as well as with the continuity of strategic projects under development, for which the Company usually has the enforceable right to receive for the performance completed to date. The Company historically has not presented losses in the trade accounts receivable and contract assets balances with these counterparties. As of December 31, 2021, there was a limited number of demands with Defense & Security customers under administrative and legal treatments in relation to commercial relationships already terminated and for which, due to the actual status of the demands, the Company recorded an expected credit loss provision in the amount of US$ 2.4 (US$ 3.4 as of December 31, 2020). Trade accounts receivable and contract assets are written off when there is no reasonable expectation of recovery. Indications include, among others, the inability of the debtor to participate in a plan to renegotiate its debt or possible legal actions have been exhausted. Further details related to expected credit losses recognized over the customer and commercial financing balances are disclosed in Note 9. • Other financial assets Other financial assets measured as at amortized cost includes guarantee deposits, collateralized accounts receivable, court-mandated escrow deposits and loan with joint operation. The result of the expected credit losses model set forth in IFRS 9 for other financial assets was immaterial. Also, the Company has guarantees, such as guarantee deposits in financial institutions rated as investment grade, pledge assets or other contractual guarantees, which also mitigates the risk of financial loss in these assets. 27.3.3 Liquidity risk This is the risk of the Company not having enough funds to honor its financial commitments as a result of a mismatch of terms or volumes of estimated receipts and payments. Projections and assumptions are established to manage the liquidity of cash in U.S. dollars and Reais, in accordance with the financial management policy, based on contracts for future disbursements and receipts, and monitored periodically by the Company. Accordingly, possible mismatches are detected well in advance allowing the Company to adopt mitigation measures to reduce risks and financial cost. The following table provides additional information related to undiscounted contractual obligations and commercial commitments and their respective maturities: Cash Flow Less than one One to three Three to five More than At December 31, 2021 Loans and financing 4,842.0 712.5 683.4 1,602.4 1,843.7 Trade accounts payable 495.2 495.2 — — — Trade accounts payable - Supplier finance 14.8 14.8 — — — Financial guarantees 18.7 15.8 2.9 — — Lease Liability 63.8 11.5 20.1 9.9 22.3 Other liabilities 218.8 15.8 164.5 27.8 10.7 Total 5,653.3 1,265.6 870.9 1,640.1 1,876.7 At December 31, 2020 Loans and financing 5,749.5 568.0 1,591.6 1,666.1 1,923.8 Trade accounts payable 502.3 502.3 — — — Financial guarantees 125.2 42.6 44.1 36.6 1.9 Lease Liability 64.7 10.1 19.4 11.9 23.3 Other liabilities 222.5 11.4 56.0 137.7 17.4 Total 6,664.2 1,134.4 1,711.1 1,852.3 1,966.4 The table above shows the outstanding principal and interest if applicable at the maturity dates. In the case of the fixed rate liabilities, interest expense was calculated based on the rate established in each debt contract. Interest expense on floating rate liabilities was calculated based on a market forecast for each period (e.g. LIBOR 6m - 12m). 27.3.4 Market risk a) Interest rate risk This risk arises from the possibility of the Company incurring losses on the fluctuation of floating interest rates, which might increase financial expenses of financial liabilities, and/ or decrease financial income of financial assets, as well as negatively impacting the fair value of financial assets measured as at fair value. The lines of the consolidated financial statements most affected by interest rate risks are: • Cash, cash equivalents and financial investments – the Company’s policy for managing the risk of fluctuations in interest rates on financial investments is to maintain a system to measure market risk, which consists of an aggregate analysis of variety of risk factors that might affect the return of those investments. • Loans and financing – the Company monitors financial markets with the purpose of evaluate hedge structures (derivative transactions) in compliance with the financial and risk management policy to protect its exposure risks of volatility in foreign currency and interest rates. On December 31, 2021, the Company’s cash, cash equivalents, financial investments and loans and financing were indexed as follows: Without derivative effect Fixed interest rate Variable interest rate Total Amount % Amount % Amount % Cash, cash equivalents and financial investments 2,559.6 97.15 % 75.2 2.85 % 2,634.8 100.00 % Loans and financing 3,514.6 87.28 % 512.3 12.72 % 4,026.9 100.00 % With derivative effect Fixed interest rate Variable interest rate Total Amount % Amount % Amount % Cash, cash equivalents and financial investments 2,559.6 97.15 % 75.2 2.85 % 2,634.8 100.00 % Loans and financing 3,803.7 94.46 % 223.2 5.54 % 4,026.9 100.00 % On December 31, 2021, the Company’s cash equivalents and variable interest rate loans and financing were indexed as follows, considering the contractual cash flows (without derivative effect) and the cash flows changed due to interest rate swaps (with derivative effect): Without derivative effect With derivative effect Amount % Amount % Cash equivalents and financial investments 75.2 100.00 % 75.2 100.00 % CDI 75.2 100.00 % 75.2 100.00 % Loans and financing 512.3 100.00 % 223.2 100.00 % TJLP 0.2 0.04 % 0.2 0.09 % Libor 480.5 93.79 % 177.5 79.53 % CDI 3.7 0.72 % 17.5 7.84 % SIFMA 21.5 4.20 % 21.5 9.63 % IPCA 0.6 0.12 % 0.6 0.27 % EURIBOR 5.8 1.13 % 5.9 2.64 % b) Foreign exchange rate risk Consequently, the Company’s operations most exposed to foreign exchange gains/losses are those denominated in Brazilian Real (labor costs, tax issues, local expenses, financial investments and loans and financing) as well as investments in subsidiaries in currencies other than the US dollar. Company policy for protection against foreign exchange risks on assets and liabilities is mainly based on seeking to maintain a balance between assets and liabilities indexed in each currency and management of foreign currency purchases and sales to ensure that, on realization of the transactions contracted, this natural hedge will occur. This policy minimizes the effect of exchange rate changes on assets and liabilities already contracted, but do not protect against the risk of fluctuations in future results due to appreciation or depreciation of the real that can, when measured in dollars, result in an increase or reduction in the portion of costs denominated in Brazilian Real. Under certain market conditions, the Company may protect itself against potential future mismatches of expenses and revenues denominated in foreign currency, to minimize the effects of future exchange variations on the Company’s consolidated statements of income. Efforts to minimize the foreign exchange risk for rights and liabilities denominated in currencies other than the functional currency may involve transactions with derivatives, such as swaps, exchange options and Non-Deliverable On December 31, 2021, the Company had the following amounts of financial assets and liabilities denominated in several currencies: 12.31.2021 12.31.2020 Loans and financing Brazilian reais 18.3 83.4 U.S. dollars 3,982.5 4,342.2 Euro 26.1 22.4 4,026.9 4,448.0 Trade accounts payable Brazilian reais 77.6 54.3 U.S. dollars 385.6 385.6 Euro 31.3 61.1 Other currencies 0.7 1.3 495.2 502.3 Trade accounts payable - Supplier finance Brazilian reais 2.8 — U.S. dollars 12.0 — 14.8 — Total (1) 4,536.9 4,950.3 Cash and cash equivalents and financial investments Brazilian reais 94.9 89.5 U.S. dollars 2,493.6 2,617.6 Euro 42.4 42.8 Other currencies 3.8 2.4 2,634.7 2,752.3 Trade accounts receivable: Brazilian reais 33.3 6.5 U.S. dollars 134.8 173.7 Euro 20.8 23.2 Other currencies 0.1 — 189.0 203.4 Total (2) 2,823.7 2,955.7 Net exposure (1 - 2): Brazilian reais (29.5 ) 41.7 U.S. dollars 1,751.7 1,936.5 Euro (5.8 ) 17.5 Other currencies (3.2 ) (1.1 ) 27.4 Sensitivity analysis In order to present positive and negative variations of 25% and 50% in the risk variable considered, a sensitivity analysis of the financial instruments, including derivatives, is presented below describing the effects on the monetary and foreign exchange variations on the financial income and expense, as well as in the consolidated shareholders’ equity, determined on the balances recorded on December 31, 2021, in the event of such variations in the risk component. However, statistical simplifications were made in isolating the variability of the risk factors in question. Consequently, the following estimates do not necessarily represent the amounts that might be determined in future consolidated financial statements. The use of different hypotheses and/or methodologies could have a material effect on the estimates presented below. 27.4.1 Methodology Considering the assumption that balances remain constant as compared to December 31, 2021, the Company calculates the interest and exchange variation differential for each of the projected scenarios. The assessment of the amounts exposed to interest rate risk considers only the risks for the financial statement, therefore operations subject to fixed interest rates were not included. The probable scenario is supported by an average of market projections, observed through Bloomberg, for the related financial indexes and rates in a period of up to 3 months from reporting date, and positive and negative variations of 25% and 50% were applied to the indexes and rates in force as of the reporting date. In the sensitivity analysis of derivative contracts, positive and negative variations of 25% and 50% were applied to the market yield curve (as observed in B3) as of the reporting date. 27.4.2 Interest risk factor Additional variations in book balances (*) Risk factor Amounts -50% -25% Probable +25% +50% Cash equivalents and financial investments CDI 75.2 (2.5 ) (0.3 ) 1.9 4.1 6.3 Loans and financing CDI (3.7 ) (0.1 ) — 0.1 0.2 0.3 Net impact CDI 71.5 (2.6 ) (0.3 ) 2.0 4.3 6.6 Loans and financing LIBOR (480.5 ) 0.3 (0.3 ) (1.0 ) (1.7 ) (2.3 ) Net impact LIBOR (480.5 ) 0.3 (0.3 ) (1.0 ) (1.7 ) (2.3 ) Loans and financing TJLP (0.2 ) — — — — — Net impact TJLP (0.2 ) — — — — — Loans and financing IPCA (0.6 ) — — — — — Net impact IPCA (0.6 ) — — — — — Rates considered CDI 9.15 % 5.85 % 8.78 % 11.70 % 14.63 % 17.55 % Rates considered LIBOR 6M 0.35 % 0.28 % 0.42 % 0.56 % 0.69 % 0.83 % Rates considered TJLP 5.32 % 3.04 % 4.56 % 6.08 % 7.60 % 9.12 % Rates considered IPCA 10.06 % 5.11 % 7.67 % 10.23 % 12.78 % 15.34 % (*) The positive and negative variations of 25% and 50% were applied on the rates in effect at 12.31.2021 27.4.3 Foreign exchange risk factor Additional variations in book balances (*) Risk factor Amounts -50% -25% Probable +25% +50% Assets 402.6 200.6 99.6 (1.4 ) (102.4 ) (203.4 ) Cash, cash equivalents and financial investments R$ 94.9 47.3 23.5 (0.3 ) (24.1 ) (48.0 ) Other assets R$ 307.7 153.3 76.1 (1.1 ) (78.3 ) (155.4 ) Liabilities (327.0 ) (162.9 ) (80.9 ) 1.2 83.2 165.2 Loans and financing R$ (18.3 ) (9.1 ) (4.5 ) 0.1 4.7 9.2 Other liabilities R$ (308.7 ) (153.8 ) (76.4 ) 1.1 78.5 156.0 Net impact 75.6 37.7 18.7 (0.2 ) (19.2 ) (38.2 ) Exchange rate considered 5.5805 2.8000 4.2000 5.6000 7.0000 8.4000 (*) The positive and negative variations of 25% and 50% were applied on the rates 27.4.4 Derivative contracts Additional variations in book balances (*) Risk factor Amounts -50% -25% Probable +25% +50% Derivative Designated as Hedge Accounting Interest swap - fair value hedge CDI (1.1 ) 50.2 18.9 (0.1 ) (18.5 ) (49.3 ) Other derivatives Interest swap LIBOR (5.7 ) 48.1 19.6 3.3 (12.3 ) (40.4 ) Total (6.8 ) 98.3 38.5 3.2 (30.8 ) (89.7 ) Rate considered LIBOR 113.26 % 56.00 % 84.00 % 112.00 % 140.00 % 168.00 % Rate considered CDI 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % (*) The positive and negative variations of 25% and 50% were applied on the rates |
Shareholders' equity
Shareholders' equity | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Shareholders' equity | 28 Shareholders’ equity 28.1 Capital The authorized capital is divided into 1,000,000,000 common shares. The Company’s subscribed and paid up capital as of December 31, 2021 was US$ 1,551.6 and was comprised of 740,465,044 common shares, without par value, of which 5,832,238 shares were held in treasury. The capital is comprised entirely of common shares. As per Article 14 of the Company’s bylaws, each common share generally empowered with one vote at general shareholders’ meeting, considering that no shareholder or group of shareholders, may exercise votes representing more than 5% of the quantity of shares into which our capital stock is divided. Votes that exceed this 5% threshold will not be considered. 28.2 Brazilian Federal Government Golden Share The Federal Government holds one golden share 28.3 Treasury Shares Common shares acquired with resources from the investments and working capital reserve. This operation occurred in accordance with rules approved by the Statutory Board of Directors in a meeting held on December 7, 2007 and corresponds to 5,832,238 common shares and US$ 28.2 as of December 31, 2021. These shares lose voting and economic rights during the period in which they are held in Treasury. The movement is shown below: USD Quantity Share value Net income of At the beginning of the year 25.7 4,291,938 6.0 — Repurchase of shares in the period 2.5 1,540,300 1.6 — At December 31, 2021 28.2 5,832,238 4.8 — As of December 31, 2021, the market value of the shares held in Treasury was US$ 25.9 (December 31, 2020 - US$ 7.3). 28.4 Investment subsidy reserve (Government grants) This reserve was formed as allowed by article 195-A 28.5 Legal reserve The legal reserve is a revenue reserve recorded annually as an appropriation of 5% of the net income for the year as defined under the Brazilian Corporate Law. The reserve may not exceed 20% of capital, or 30% of capital and capital reserves. 28.6 Investment and working capital reserve The purpose of this revenue reserve is to shield funds which might otherwise be subject to distribution and are earmarked for: (i) investments in property, plant and equipment, without detriment to retained earnings, pursuant to art. 196 of Law 6.404/76; (ii) the Company’s working capital (iii) redeem, reimburse or purchase shares of the Company and (iv) be distributed to the shareholders. The previously mentioned statutory reserves are generated of earnings retained from past fiscal years. Since Embraer is established and domiciled in Brazil, the components of shareholders’ equity are required under the Brazilian Corporate Law to be measured accounted and maintained in historical Brazilian Real, including amounts to be distributed to shareholders (dividends and interest on own capital). Such a requirement is different from the Company’s original accounting records in its functional currency, which is prepared and maintained in historical U.S. dollars (as described in Note 2.2.1). Net earnings or losses incurred by the Company at the end of each fiscal year in US Dollars are translated to Brazilian Real for Corporate Law accounting purposes at average exchange rate observed on that period end, and then distributed, retained or absorbed by the statutory reserves. Embraer files audited consolidated financial statements in Brazil (translated to Brazilian Real based on requirements of IAS 21), which discloses the components of shareholders’ equity accounted as required by the Brazilian Corporate Law. As of January 1 st by-laws. st 28.7 Other comprehensive income Consists of the following adjustments: • Cumulative translation adjustment: foreign exchange gains/losses resulting from translation of the foreign subsidiaries’ financial statements measured in other functional currencies to the Company’s functional currency (dollar); and • Other comprehensive income: unrealized actuarial gains (losses) resulting from the healthcare plans sponsored by the Company, changes in fair value of financial instruments measured at FVOCI and changes in the fair value of the cash flows hedges structures (Note 8). |
Share-based compensation
Share-based compensation | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Share-based compensation | 29 Share-based compensation The Company maintain as part of its Executive Compensation Policy long-term incentives plan (“LTI”), applicable to all executive officers and other Company executives, with The Company’s LTI current policy is comprised of share-based compensation settled in cash (phantom shares plan). Previously, the Company also maintained shared-based compensation plan settled in stock options. The remaining stock options of last grant (March 20, 2013) were cancelled during the first quarter of 2020. 29.1 Phantom shares plan The plan is based on the granting of virtual shares to directors and managers and the main objective is to attract and keep highly qualified staff in the Company and its subsidiaries to ensure continuity of management and align the interests of directors and key personnel of the Company and controlled entities to those of the Company’s shareholders. The value of the long-term incentives will be converted at the average price of the Company’s shares in the last 30 trading days (based on the EMBR3 shares listed in the stock exchange in Brazil - B3) by determining the quantity of virtual shares allocated to each participant, divided into two classes: (i) in the form of restricted virtual shares (associated with the service period) and (ii) in the form of virtual performance shares. The Company will pay the LTI by converting the quantity of virtual shares into reais at the average quoted price (weighted by trading volume) of the Company’s shares in the last 10 trading days, as follows: • restricted virtual shares: (i) 33% on the third anniversary of the grant date; (ii) 33% on the fourth anniversary of the grant date, and (iii) 34% on the fifth anniversary of the grant date; and • A change in the virtual performance share calculation was approved in August 2017. Virtual performance shares granted in 2015, 2016 and 2017 was paid in 2020, while those granted in 2018 was paid in 2021. The amounts payable will now be based on the internal cost reduction target and not on the Economic Value-Added indicator. The amounts distributed and effectively paid by the Company to shareholders during the vesting period (dividends and interest on own capital) are included in the virtual shares accounts payable. The fair value of virtual shares is determined based on the average price (weighted by trading volume) of the Company’s shares (EMBR3-R$) Amount of Grant Amount of Fair value of Fair value of Grants on August 24, 2017 1,930,350 30.5 230,750 5.0 1.0 Grants on April 12, 2018 1,622,986 35.2 314,552 6.8 1.3 Grants on March 12, 2019 1,160,552 22.4 885,237 19.3 3.7 Grants on March 24, 2020 1,401,293 23.8 710,127 15.5 3.0 Grants on November 13, 2020 6,530,000 43.6 2,399,444 52.2 10.0 Grants on March 18, 2021 2,181,442 24.6 591,938 12.9 2.5 At December 31, 2021 14,826,623 180.1 5,132,048 111.7 21.5 Amount of Grant Amount of Fair value of Fair value of Grants on March 10, 2016 1,095,720 31.1 115,308 1.0 0.2 Grants on June 09, 2016 55,994 1.1 7,722 0.1 — Grants on August 25, 2016 70,978 1.1 10,659 0.1 — Grants on August 24, 2017 1,930,350 30.5 446,656 4.0 0.8 Grants on April 12, 2018 1,622,986 35.2 996,805 9.0 1.7 Grants on March 12, 2019 1,160,552 22.4 613,695 5.5 1.1 Grants on March 24, 2020 1,401,293 23.8 344,679 3.1 0.6 Grants on November 13, 2020 6,530,000 43.6 362,778 3.3 0.6 At December 31, 2020 13,867,873 188.8 2,898,302 26.1 5.0 (i) Refers to the estimated fair value of total virtual shares to be granted in each grant date. (ii) Outstanding virtual shares until December 31, 2021 and December 31, 2020 considering the plan’s vesting period and less the virtual shares already paid to the beneficiaries. (iii) Fair value of virtual shares as of December 31, 2021 and December 31, 2020 considering the plan’s vesting period and fair value of Embraer’s shares in the market on each date based on the plan’s requirements. |
Earnings per Share
Earnings per Share | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Earnings per Share | 30 Earnings per share Basic and diluted earnings per common share are computed by dividing net income/(loss) for the year by the weighted average number of shares outstanding during the period, excluding shares held in treasury. 12.31.2021 12.31.2020 12.31.2019 Losses attributable to owners of Embraer (44.7 ) (731.9 ) (322.3 ) (44.7 ) (731.9 ) (322.3 ) Weighted average number of shares (in thousands) 734,730 736,164 735,850 Basic and diluted earnings per share - U.S. dollars (0.06 ) (0.99 ) (0.44 ) As of December 31, 2021 and 2020, the Company does not have outstanding potential ordinary shares which can be converted in new shares and diluted earnings per share, therefore, basic and diluted earnings per share are equivalent in the period as disclosed. As of December 31, 2019, options were excluded from the weighted average number of shares, since their effect would have been anti-dilutive. |
Revenue from contracts with cus
Revenue from contracts with customers | 12 Months Ended |
Dec. 31, 2021 | |
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Revenue from contracts with customers | 31 Revenue from contracts with customers a) Revenue disaggregation: The following tables provide disaggregated revenue by category, including main product and service lines, and main geographic areas. The Company discloses such balances reconciled to the reportable segments, being this information regularly provided and reviewed in such way by the chief operating decision-marker. • Revenue by category at December 31, 2021: Commercial Defense and Executive Service and Others Total Aircraft 1,313.2 148.8 1,098.7 — 17.5 2,578.2 Long-term contracts — 320.6 — — — 320.6 Others 3.2 23.2 31.4 8.7 1.4 67.9 Service — 87.9 — 795.6 — 883.5 Spare Parts — 13.9 — 327.9 5.2 347.0 Total 1,316.4 594.4 1,130.1 1,132.2 24.1 4,197.2 North Latin America Asia Pacific Brazil Europe Others Total Aircraft 1,525.3 4.1 102.8 79.5 731.2 135.3 2,578.2 Long-term contracts — — — 202.4 117.5 0.7 320.6 Others 30.2 0.4 3.7 22.9 9.8 0.9 67.9 Service 417.8 20.9 72.9 129.7 203.3 38.9 883.5 Spare Parts 194.9 12.4 30.2 44.1 54.9 10.5 347.0 Total 2,168.2 37.8 209.6 478.6 1,116.7 186.3 4,197.2 • Revenue by category at December 31, 2020: Commercial Defense and Security Executive Jets Service and Support Other Total Aircraft 1,103.7 239.5 1,015.3 — 7.7 2,366.2 Long-term contracts — 296.9 — — — 296.9 Others 10.7 19.9 56.2 4.9 1.1 92.8 Service — 73.7 — 712.7 — 786.4 Spare Parts — 23.9 — 202.4 2.5 228.8 Total 1,114.4 653.9 1,071.5 920.0 11.3 3,771.1 North Latin America Asia Pacific Brazil Europe Other Total Aircraft 1,962.7 49.7 77.1 6.9 237.7 32.1 2,366.2 Long-term contracts — 0.3 0.1 230.9 64.9 0.7 296.9 Others 61.0 0.4 8.6 13.3 5.0 4.5 92.8 Service 385.6 22.4 56.4 91.9 198.7 31.4 786.4 Spare Parts 123.2 3.2 19.4 40.0 37.7 5.3 228.8 Total 2,532.5 76.0 161.6 383.0 544.0 74.0 3,771.1 • Revenue by category at December 31, 2019: Commercial Aviation Defense and Security Executive Jets Service and Support Other Total Aircraft 2,184.7 89.9 1,311.9 0.2 5.6 3,592.3 Long-term contracts — 397.9 — 1.2 — 399.1 Others 49.7 16.0 85.1 0.7 — 151.5 Service — 65.2 — 817.5 0.1 882.8 Spare Parts — 7.3 — 426.1 3.5 436.9 Total 2,234.4 576.3 1,397.0 1,245.7 9.2 5,462.6 North Latin America Asia Pacific Brazil Europe Other Total Aircraft 2,549.0 21.3 272.0 59.1 614.3 76.6 3,592.3 Long-term contracts 0.1 1.3 2.1 378.8 13.5 3.3 399.1 Others 98.6 19.2 5.7 8.6 12.5 6.9 151.5 Service 437.5 26.6 72.6 101.3 205.1 39.7 882.8 Spare Parts 260.4 8.0 24.6 55.5 78.3 10.1 436.9 Total 3,345.6 76.4 377.0 603.3 923.7 136.6 5,462.6 The contracts are grouped in the categories above as they are affected similarly by economic factors. b) Contract balances, including contract costs: 12.31.2021 12.31.2020 Contract assets 582.3 461.8 Contract liabilities 1,513.3 1,295.4 Advances from customers - Aircraft and Defense long-term contracts 1,312.4 1,049.3 Deferred revenue - Parts and services 200.9 246.1 Contract asset s US$ included in the contract assets position as of December 31, 2020 were billed and collected by the Company on 2021. Expected credit losses of US$ 2.5 were recognized over the contract assets balances as of December 31, 2021. The revenue cumulative adjustment of US$ 40.9 recognized in the end of 2021 as a result of the contract modification for scope reduction in the sales order of KC-390 Contract liabilities were recognized as revenues in 2021. c) Performance obligations: The Company has a portfolio of firm orders (“Backlog”), whose performance obligations are unsatisfied or partially satisfied. The amount of revenue allocated to performance obligations not yet satisfied (or partially satisfied) as of December 31, 2021 was US$ 17.0 billion (US$ billion on December 31, 2020), out of which US$ billion is expected to be satisfied in the next 5 years (US$ billion on December 31, 2020), as estimated by the Company. |
Revenue (expenses) by type
Revenue (expenses) by type | 12 Months Ended |
Dec. 31, 2021 | |
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Revenue (expenses) by type | 32 Revenue (expenses) by type The Company opted to present the consolidated statements of income by function. The table below shows the detailed costs and expenses by nature: 12.31.2021 12.31.2020 12.31.2019 As presented in the statements of income: Revenue 4,197.2 3,771.1 5,462.6 Cost of sales and services (3,537.6 ) (3,293.5 ) (4,667.1 ) Administrative (153.2 ) (143.4 ) (190.2 ) Selling (226.4 ) (194.0 ) (286.5 ) Expected credit loss (reversal) over financial assets and contract assets 13.0 (61.8 ) 0.6 Research (43.0 ) (29.8 ) (49.4 ) Other operating expense, net (49.8 ) (374.7 ) (346.8 ) Equity in income of associates 1.1 2.7 (0.2 ) Operating profit before financial income 201.3 (323.4 ) (77.0 ) Revenue (expenses) by nature: Revenue from sales of goods 3,490.1 3,194.5 4,755.2 Revenue from sales of services 742.3 620.9 773.3 Sales deductions and tax on revenue (i) (35.2 ) (44.3 ) (65.9 ) General manufacturing costs (ii) (3,329.0 ) (3,001.4 ) (4,457.4 ) Depreciation (122.0 ) (163.6 ) (113.8 ) Amortization (86.6 ) (128.5 ) (95.9 ) Personnel expenses (224.2 ) (194.2 ) (257.5 ) Selling expenses (47.6 ) (48.1 ) (71.9 ) Equity in losses on associates 1.1 2.7 (0.2 ) Research (43.0 ) (29.8 ) (49.4 ) Expected credit losses over financial assets and contract assets 13.0 (61.8 ) 0.6 Services provided (82.2 ) (74.5 ) (93.8 ) Other operating expenses, net (Note 33) (49.8 ) (374.7 ) (346.8 ) Miscellaneous (iii) (25.6 ) (20.6 ) (53.5 ) Operating profit before financial income 201.3 (323.4 ) (77.0 ) (i) Refers to sales taxes and other deductions. (ii) Refers to costs of materials and general manufacturing expenses. (iii) Refers mainly to expenses with insurance, taxes and fees. |
Other operating expense, net
Other operating expense, net | 12 Months Ended |
Dec. 31, 2021 | |
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Other operating expense, net | 33 Other operating expenses, net 12.31.2021 12.31.2020 12.31.2019 Corporate projects (i) (59.4 ) (56.4 ) (129.0 ) Restructuring expenses (ii) (31.8 ) (69.2 ) — Taxes on other sales (23.7 ) (20.3 ) (29.5 ) Expenses system project (10.8 ) (6.7 ) (12.9 ) Residual value of fixed assets disposed (10.5 ) — — Aircraft maintenance and flights costs -fleet (7.8 ) (2.8 ) (2.1 ) Flight safety standards (3.1 ) (3.1 ) (4.7 ) Product modification (2.7 ) (2.5 ) (2.4 ) Training and development (1.5 ) (4.7 ) (6.8 ) Depreciation and amortization -Commercial Aviation — (101.2 ) — Costs with personnel (iii) — (44.8 ) — Carve-Out — (82.8 ) (111.3 ) Additional losses with financial guarantees exercised — (5.9 ) — Contractual fines (1.0 ) (3.9 ) (3.5 ) Reversal of tax provisions — 8.1 26.8 Recovery of expenses — 12.7 26.2 Contractual fines revenue 7.1 15.1 31.0 Other sales 7.3 6.2 8.3 Impairment of assets (v) 11.2 4.2 (104.4 ) Royalties 16.5 7.0 15.9 Reversal (Provision) for contingencies (iv) 22.1 (0.3 ) (8.1 ) Fair value changes -Republic Airways shares 39.1 (4.1 ) 0.7 Others (0.8 ) (19.3 ) (41.0 ) (49.8 ) (374.7 ) (346.8 ) (i) Corporate projects expenses mainly relate to disbursements with demands approved by Management associated with efficiency and restructuring of processes, IT, cyber security and legal demands. (ii) Restructuring refers to (i) expenses incurred by the Company as part of the corporate restructuring project started in the current year (2021) and (ii) expenses incurred in 2020 by the Company as a result of the pandemic crisis, including the voluntary dismissal plans for specific group of employees in Brazil and reduction of work force. (iii) Refer to costs with personnel incurred as a result of the impacts caused by the COVID-19 (lay-off). (iv) Refer to separation costs incurred in the internal carve-out (v) Impairment of assets mainly relates to (i) impairment loss of US$ 45.1 in 2021 recognized on the assets held for sale (Note 16) and (ii) impairment reversal of US$ 57.9 in 2021 of losses recognized before in the cash-generating unit Mid-Size Mid-Size (vi) It mainly refers to reversal of previously booked tax obligation which the Company received favorable outcome during 2021 (Note 23(i)). |
Financial expense, net
Financial expense, net | 12 Months Ended |
Dec. 31, 2021 | |
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Financial expense, net | 34 Financial expenses, net 12.31.2021 12.31.2020 12.31.2019 Financial income: Interest on cash and cash equivalents and financial investments 17.9 18.3 68.2 Interest on receivables 3.1 10.6 55.4 Residual value guarantee 52.0 3.7 — Taxes over financial revenue (2.2 ) (3.9 ) (7.0 ) Phantom shares (LTI) — 5.1 1.5 Others 4.0 (4.7 ) (1.3 ) Total financial income 74.8 29.1 116.8 Financial expenses: Interest on loans and financing (240.7 ) (214.9 ) (201.6 ) IOF -(tax on financial transactions) (0.9 ) (9.1 ) (1.6 ) Interest on taxes, social charges and contributions (3.2 ) (4.9 ) (6.7 ) Residual value guarantee — — (14.7 ) Financial restructuring costs (2.4 ) — — Phantom shares (LTI) (17.7 ) — — Others (9.3 ) (16.1 ) (14.7 ) Total financial expenses (274.2 ) (245.0 ) (239.3 ) Derivative financial instruments — (16.8 ) 6.4 Financial expenses, net (199.4 ) (232.7 ) (116.1 ) |
Foreign exchange gain (loss), n
Foreign exchange gain (loss), net | 12 Months Ended |
Dec. 31, 2021 | |
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Foreign exchange gain (loss), net | 35 Foreign exchange gain (loss), net 12.31.2021 12.31.2020 12.31.2019 Monetary and foreign exchange variations Assets: Tax credits (14.2 ) (33.7 ) (9.6 ) Trade accounts receivable and contract assets (1.9 ) (37.6 ) (8.4 ) Cash and cash equivalents and financial investments 2.4 (37.7 ) (17.6 ) Other 4.0 (24.3 ) 9.8 (9.7 ) (133.3 ) (25.8 ) Liabilities: Loans and financing 3.9 4.9 7.8 Advances from customers (1.0 ) (0.5 ) — Provisions 12.3 34.7 14.8 Taxes and charges payable 4.0 12.8 2.5 Deferred income tax and social contribution — — 2.4 Other payables 5.9 (33.0 ) (11.6 ) Suppliers (2.7 ) 19.0 14.8 Provisions for contingencies 3.2 18.7 5.5 Other 5.5 (0.4 ) (0.1 ) 31.1 56.2 36.1 Net monetary and foreign exchange variations 21.4 (77.1 ) 10.3 Derivative financial instruments 4.1 (2.0 ) (3.4 ) Foreign exchange gain (loss), net 25.5 (79.1 ) 6.9 |
Responsibilities and Commitment
Responsibilities and Commitments | 12 Months Ended |
Dec. 31, 2021 | |
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Responsibilities and Commitments | 36 Responsibilities and commitments 36.1 Insurance cover The Company contracts different types of insurance policies to protect assets in the event of any accident that might cause significant losses. Policies are also contracted for risks subject to compulsory insurance, either legally or contractually. The Company and its subsidiaries have civil liability insurance for their operations in Brazil and abroad, with coverage and conditions that management considers appropriate to the risks involved. To cover substantial damage to assets and loss of earnings of its operations in Brazil and abroad, the Company has insured an amount of US $ 7 billion. 36.2 Exposure with financial and residual value guarantees (Commercial Aviation) As of December 31, 2021, the Company is not As presented in Note 25, the Company made payments of US$ 49.5 in financial guarantees in 2021 and holds accounts payable in the amount of US$ 18.7 that are to be liquidated over the course of upcoming fiscal years (US$ 15.8 over the short-term). The difference between the total exposure observed in 2020 and the amounts paid and payable recognized in 2021 was not exercised and therefore did not impact the Company. Despite previous exposures having been completely eliminated, the Company may grant financial guarantees in new sales orders in accordance with the financial risk management policy approved by the Board of Directors. Certain orders included in the Backlog may also offers options for financial guarantees that may be exercised by clients upon aircraft being delivered. 36.3 Backstop commitments (Commercial Aviation) In certain firm sales contracts of commercial jets included in backlog (performance obligations to be satisfied – Note 31.c), the Company has entered into backstop commitments to provide financing in case the customer fails to obtain sufficient credit lines upon the aircraft deliveries. Past experience demonstrates the Company was requested and provided financing on limited cases to its customers during the deliveries of E-Jets With the purpose of mitigating the credit risk exposure, the exercise of backstop commitments relies on current financial conditions of the customer upon exercise notice and conditions precedent to be accomplished. If the Company effectively provides the financing on delivery, the related aircraft is kept as collateral in the financing structure. 36.4 Climate changes Embraer, as part of its commitment to building a sustainable future, announced on August 13, 2021 new ESG (Environment, Social and Governance) targets, including a commitment to carbon neutral operations by 2040. To achieve the aviation industry´s goal of net-zero The actions planned by the Company to achieve carbon neutral operations by 2040 (Scope 1+2) include: (i) 50% reduction in net carbon emissions by 2040 from a 2018 baseline; (ii) 100% energy from renewable sources by 2030; (iii) Begin using Sustainable Aviation Fuel (SAF) by 2021; (iv) Carbon neutral growth from 2022 (2021 baseline). In relation to aviation industry’s goal of net-zero zero-emission The risks related to potential impacts of climate changes and mitigating actions were assessed by the Company on reporting date, mainly related to recoverability and useful lives of long-lived assets and identification of liabilities. Based on Management’s best judgment, there is no impacts over the Company’s assets and liabilities on December 31, 2021. |
Supplemental Cash Flow informat
Supplemental Cash Flow information | 12 Months Ended |
Dec. 31, 2021 | |
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Supplemental Cash Flow information | 37 Supplemental cash flow information 37.1 Payments made during the year and transactions not affecting cash and cash equivalents 12.31.2021 12.31.2020 12.31.2019 Payments made during the period: Income tax and social contribution 22.5 86.9 42.3 Interest 207.4 173.2 188.1 Non-cash — Acquisition of inventories through assumption of financing — 14.1 — Write off on Property, plant and equipment by transfer to pool parts inventory (23.2 ) (18.2 ) (21.6 ) Property, plant and equipment, transfer for providing for the sale of inventory — (38.4 ) (38.5 ) Non-controlling — 22.2 — Payments of interest on loans and financing and income tax and social contribution are presented in the statements of cash flows as cash outflows related to operating activities, under the lines of accrued interest and taxes and payroll charges payable. |
Segment information
Segment information | 12 Months Ended |
Dec. 31, 2021 | |
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Segment information | 38 Segment information Management defined the Company’s operating segments based on the reports used for strategic decision making, reviewed by the chief operating decision-maker. The chief operating decision-maker evaluates the businesses based on its consolidated operating results, dividing it geographically and in terms of markets for specific products. From a geographic perspective, Management considers the performance of the operations in Brazil, North America, Europe, Latin America and Asia Pacific. 38.1 Commercial aviation business The Commercial Aviation business mainly involves the development, production and sale of commercial jets and aircraft leases. • ERJ 145 family, comprising the ERJ 135, ERJ 140 and ERJ 145 jets, certified to operate with 37, 44 and 50 seats, respectively. • EMBRAER 170/190 family, comprising the EMBRAER 170, a 70-seat 76-seat 100-seat 108-seat • E-Jets E-Jets E175-E2 E190-E2 E195-E2, E190-E2 E195-E2 E175-E2 38.2 Defense and security business The defense and security business operations mainly involve research, development, production, modification and support for military defense and security aircraft, as well as a wide range of products and integrated solutions that include radars, special space systems (satellites), cyber security solutions and advanced information and communications systems, such as Command, Control, Communications, Computer, Intelligence, Surveillance and Reconnaissance, or C4ISR systems. The expansion and diversification of the portfolio, previously focused on military aircraft, was facilitated by a strategy of partnerships, acquisitions and organic growth. The Company’s principal customer is currently the Brazilian Defense Ministry and, in particular, the Brazilian Air Force, although the diversification of the portfolio has resulted in a corresponding diversification of customers: the Brazilian Army and Navy and the Communications Ministry, as well as a growing international presence of our products and solutions. The main products of the Defense and Security portfolio are as follows • Light Attack and Advanced Training Aircraft (Super Tucano) - the Super Tucano is a military turboprop that combines training and operational capacities with low acquisition and operating costs. The Super Tucano has the operational capacities for frontier surveillance, proximity aerial support and counter insurgence missions (COIN). • Aircraft Modernization - The Company offers aircraft upgrade services and currently operates four contracted programs. The first, known as F-5BR, • The ISR family (Intelligence, Surveillance and Reconnaissance) - Originally developed to serve the SIVAM program, based on the ERJ 145 platform, versions have been ordered by the Greek, Mexican and Indian governments. A new solution is currently being studied based on the Praetor 600 platform for missions AEW&C – Anticipated Aerial Alert and Control. • C-390 Millennium is a joint project between the Brazilian Air Force and Embraer to develop and produce tactical military transportation and aerial refueling and represents a significant advance in terms of technology and innovation for the airspace industry. The aircraft is designed to establish new standards in its category, with lower operating costs and the flexibility to execute a variety of missions, including troop carriage and transportation, air delivery, aerial refueling, search and rescue and aerial firefighting and combat. • Transportation of Authorities and Special Missions - Derived from the commercial and executive aircraft platforms, these are aircraft used to transport government authorities or to carry out special missions. • Radars - solutions offered through Bradar, a technology-based industry specialized in developing and producing radars for Remote Sensing and Defense, include radar for anti-aircraft artillery, surveillance of terrestrial activity, military and civil air traffic control, a communications intelligence system and synthetic aperture radar for cartography and precision monitoring services. • Software and Systems Development - combining the expertise of Atech - Negócios em Tecnologia S.A. and investments by Embraer in system development and integration, provides specialized engineering services for the development, installation, revitalization and maintenance of critical control, defense and monitoring systems, as well as the machinery and equipment required for the services. • Frontier monitoring and protection of strategic structures - Based on its experience in systems integration, Embraer is dedicated to developing, designing, certifying, producing, integrating and implementing systems and services in the field of frontier monitoring and control and protection of critical infra-structures. • Satellites - Visiona Tecnologia Espacial, a joint venture between Embraer and Telebrás, was hired by Telebrás to provide and integrate the Brazilian Geostationary Defense and Communications Satellite system (SGDC). Currently the Nano Satellite (VCUB) is being developed which will apply the software developed by Visiona for the satellites of the Brazilian Space Program and perform missions of observation of earth and data collect. Visiona also act as service provider of remote sensing through satellite images or airborne radars. 38.3 Executive Jet business Executive Jets market operations comprise the development, production and sale of executive jets, and leases of the following product lines: • Legacy 600 and Legacy 650 - executive jets in the super midsize and large categories, deliveries of which started in 2002 and 2010, respectively. • Legacy 450 and Legacy 500- executive jets in the Midlight and Midsize categories, deliveries of which started in 2014 and 2015, respectively. • Phenom family - executive jets in the Entry Jet and Light Jet categories, respectively. The first deliveries of the Phenom 100 were made in 2008, and deliveries of the Phenom 300 started in 2009. • Lineage 1000 - an ultra-large executive jet. Deliveries of this model started in 2009. • Praetor 500 and Praetor 600 - most disruptive executive jets in the Midsize and Super Midsize categories, introduced in Q4 2018 with deliveries starting in 2nd half 2019. 38.4 Service & Support Segment created to strengthen Embraer’s know-how and provide the best after-service solutions and support to its customers through a comprehensive portfolio of innovative and competitive solutions to ensure operational efficiency of products manufactured by Embraer and by other aircraft manufacturers, extending the useful life of commercial, executive and defense aircraft. In addition to its experience in proposing support solutions to customers, OGMA (Embraer’s subsidiary in Portugal) offers MRO (Maintenance, Repair and Overhaul) services for a wide range of commercial, executive and defense aircraft, aircraft components and engines and it is a significant supplier of steel and composite aviation structures to several aircraft manufacturers. The Services and Support segment consist of 6 macro processes: • Capture customer needs and develop integrated support and services solutions: To develop integrated and competitive support solutions, technical services, materials, or MRO activities that meet the needs and expectations of Embraer customers. • Sell and administrate support and services solution: To sell integrated and competitive technical support, service solutions, materials, or MRO activities, and administer support and service contracts. • Deliver Material Solutions: To provide parts to customers, by direct sale or availability through special programs, manage component repair, provide inventory management services and advice on inventory formation. • Deliver Technical Solutions: To provide technical, operational and maintenance support to customers fleets with services such as providing training for pilots and commissioners, aircraft modification and enhancement projects, review of technical, operational and maintenance publications, and sustaining digital solutions. • Deliver MRO Solutions: To provide maintenance services for aircraft, engines and landing gear (scheduled and unscheduled), aircraft modernization and component repair. • Monitor and ensure operational excellence and customer relationship excellence: To guarantee the operational excellence of Materials, Technique and MRO Solutions, through maintaining accountability of the operational leadership and the support areas, consistent monitoring of operational KPIs, reviewing customer satisfaction through MFA practices, maintaining customer relationships with CRM and operational areas that directly interface with the customers. 38.5 Other Operations reported as others relate to the supply of structural parts and mechanical and hydraulic systems, and production of agricultural crop-spraying aircraft. The business lines related to the development and certification of electric vertical take-off and landing vehicles (eVTOLs), the creation of a maintenance and services network for eVTOLs and the creation of an air traffic management system for eVTOLs (UAM Business) did not have relevant operations in the Company’s operations for 2021, therefore are being presented as other in the operating segment information. Consolidated statements of income data by operating segment – year ended December 31, 2021: Commercial Defense and Executive Service and Others Total Unallocated Total Revenue 1,316.4 594.4 1,130.1 1,132.2 24.1 4,197.2 — 4,197.2 Cost of sales and services (1,263.9 ) (488.4 ) (923.4 ) (827.6 ) (34.3 ) (3,537.6 ) — (3,537.6 ) Gross profit 52.5 106.0 206.7 304.6 (10.2 ) 659.6 — 659.6 Gross profit % 4.0 % 17.8 % 18.3 % 26.9 % -42.3 % 15.7 % 15.7 % Operating income (expense) (57.1 ) (89.0 ) (76.9 ) (143.2 ) (23.1 ) (389.3 ) (69.0 ) (458.3 ) Operating profit before financial income (expense) (4.6 ) 17.0 129.8 161.4 (33.3 ) 270.3 (69.0 ) 201.3 Financial income (expense), net (199.4 ) (199.4 ) Foreign exchange loss, net 25.5 25.5 Loss before taxes on income 27.4 Income tax expense (70.9 ) (70.9 ) Loss for the period (43.5 ) Unallocated items refer to expenses incurred in 2021 as part of the corporate restructuring of the Company and expenses with certain corporate demands not directly related to any operating segment. Revenue by geographic area - year ended December 31, 2021: Commercial Defense and Executive Service and Others Total North America 687.6 58.1 807.2 614.0 1.3 2,168.2 Europe 494.5 158.7 229.1 234.4 — 1,116.7 Asia Pacific 3.3 80.8 27.6 97.9 — 209.6 Latin America, except Brazil — 3.0 4.1 30.7 — 37.8 Brazil 1.8 285.8 62.1 106.1 22.8 478.6 Other 129.2 8.0 — 49.1 — 186.3 Total 1,316.4 594.4 1,130.1 1,132.2 24.1 4,197.2 Assets by operating segment - year ended December 31, 2021: Commercial Defense and Executive Service and Others Total Unallocated Total Trade accounts receivable — 32.7 — 152.3 4.0 189.0 — 189.0 Property, plant and equipment 498.2 253.8 344.9 589.7 1.0 1,687.6 — 1,687.6 Intangible assets 1,154.1 11.8 788.0 — 182.7 2,136.6 76.8 2,213.4 Total 1,652.3 298.3 1,132.9 742.0 187.7 4,013.2 76.8 4,090.0 Assets by geographic area - year ended December 31, 2021: North Europe Asia Pacific Brazil Total Trade accounts receivable 44.6 49.3 44.0 51.1 189.0 Property, plant and equipment 337.7 305.9 44.4 999.6 1,687.6 Intangible assets 96.6 43.2 — 2,073.6 2,213.4 Total 478.9 398.4 88.4 3,124.3 4,090.0 Consolidated statements of income data by operating segment – year ended December 31, 2020: Commercial Defense and Executive Service and Others Total Unallocated Total Revenue 1,114.4 653.9 1,071.5 920.0 11.3 3,771.1 — 3,771.1 Cost of sales and services (1,086.8 ) (549.1 ) (886.1 ) (751.4 ) (20.1 ) (3,293.5 ) — (3,293.5 ) Gross profit 27.6 104.8 185.4 168.6 (8.8 ) 477.6 — 477.6 Gross profit % 2.5 % 16.0 % 17.3 % 18.3 % -77.9 % 12.7 % 12.7 % Operating income (expense) (300.8 ) (72.2 ) (95.5 ) (240.7 ) (22.6 ) (731.8 ) (69.2 ) (801.0 ) Operating profit before financial income (expense) (273.2 ) 32.6 89.9 (72.1 ) (31.4 ) (254.2 ) (69.2 ) (323.4 ) Financial income (expense), net (232.7 ) (232.7 ) Foreign exchange gain (loss), net (79.1 ) (79.1 ) Loss before taxes on income (635.2 ) Income tax benefit (expense) (93.1 ) (93.1 ) Loss for the period (728.3 ) Unallocated items refer to expenses incurred by the Company as part of the voluntary dismissal plans for specific group of employees in Brazil and reduction in workforce in 2020. Revenue by geographic area – year ended December 31, 2020: Commercial Defense and Executive Service and Others Total North America 858.4 108.8 1,054.4 509.7 1.2 2,532.5 Europe 215.4 108.4 17.1 203.1 — 544.0 Asia Pacific 4.8 81.6 — 75.2 — 161.6 Latin America, except Brazil 0.4 49.2 — 26.4 — 76.0 Brazil 3.0 297.6 — 72.3 10.1 383.0 Other 32.4 8.3 — 33.3 — 74.0 Total 1,114.4 653.9 1,071.5 920.0 11.3 3,771.1 Assets by operating segment - year ended December 31, 2020: Commercial Defense and Executive Service and Others Total Unallocated Total Trade accounts receivable 2.4 50.5 — 146.0 4.5 203.4 — 203.4 Property, plant and equipment 821.7 216.6 322.2 595.5 — 1,956.0 — 1,956.0 Intangible assets 1,065.5 8.4 750.5 — 155.0 1,979.4 96.2 2,075.6 Total 1,889.6 275.5 1,072.7 741.5 159.5 4,138.8 96.2 4,235.0 Assets by geographic area - year ended December 31, 2020: North Europe Asia Brazil Total Trade accounts receivable 53.9 61.5 5.0 83.0 203.4 Property, plant and equipment 347.6 541.5 42.6 1,024.3 1,956.0 Intangible assets 82.8 27.3 — 1,965.5 2,075.6 Total 484.3 630.3 47.6 3,072.8 4,235.0 Consolidated statements of income data by operating segment – year ended December 31, 2019: Commercial Defense and Executive Service and Others Total Unallocated Total Revenue 2,234.4 576.3 1,397.0 1,245.7 9.2 5,462.6 — 5,462.6 Cost of sales and services (1,971.1 ) (539.6 ) (1,211.1 ) (927.4 ) (17.9 ) (4,667.1 ) — (4,667.1 ) Gross profit 263.3 36.7 185.9 318.3 (8.7 ) 795.5 — 795.5 Gross profit % 11.8 % 6.4 % 13.3 % 25.6 % -94.6 % 14.6 % 0.0 % 14.6 % Operating income (expense) (332.2 ) (98.7 ) (235.2 ) (188.3 ) (18.1 ) (872.5 ) — (872.5 ) Operating profit before financial income (expense) (68.9 ) (62.0 ) (49.3 ) 130.0 (26.8 ) (77.0 ) — (77.0 ) Financial income (expense), net (116.1 ) (116.1 ) Foreign exchange gain (loss), net 6.9 6.9 Profit before taxes on income (186.2 ) Income tax expense (130.3 ) (130.3 ) Net income (316.5 ) Revenue by geographic area – year ended December 31, 2019: Commercial Defense and Executive Service and Others Total North America 1,399.8 66.5 1,181.6 697.0 0.7 3,345.6 Europe 508.2 39.0 118.8 257.7 — 923.7 Asia Pacific 256.9 1.8 20.3 98.0 — 377.0 Latin America, except Brazil 17.0 2.7 21.6 35.1 — 76.4 Brazil 0.7 431.8 54.7 107.6 8.5 603.3 Other 51.8 34.5 — 50.3 — 136.6 Total 2,234.4 576.3 1,397.0 1,245.7 9.2 5,462.6 |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Subsequent events | 39 Subsequent events 39.1 Pause in the E175-E2 jet development program The Company’s Board of Directors approved on February 18, 2022 a three-year pause in its E175-E2 jet development program. As in previous years, the re-programing of activities is associated with the ongoing US mainline scope clause discussions with the pilot unions regarding the maximum take-off weight (MTOW) limitation for aircraft with up to 76 seats, together with current global market conditions for commercial aviation and the continuing interest in the current E175 jet in the US market. The Company expects to resume the program development activities following the aforementioned period, which will result in a re-programming of the aircraft entry into service between 2027 and 2028. 39.2 Tender Offer On March 1, 2022, pursuant to a tender offer, Embraer repurchased and cancelled US$ 59.2 and US$ 228.6 in aggregate principal amount of outstanding 5.150% senior unsecured notes due 2022 issued by Embraer S.A. and 5.696% senior unsecured notes due 2023 issued by Embraer Overseas Limited and guaranteed by Embraer S.A., respectively. The Company derecognized as financial liability in 2022 the principal repurchased and recognize as financial expenses the difference between the carrying amount of the portion repurchased (amortized cost) and the consideration paid. 39. 3 The Company has suspended the supply of parts, maintenance and technical support services for certain customers to comply with the sanctions imposed on Russia, Belarus and certain regions of Ukraine by laws of jurisdictions to which Embraer is subject. In addition, there is no immediate concern over the availability of titanium in supply chain of the Company, considering its strong current inventory position and the existing contracts for the provision of this material with companies in other countries. Embraer will continue to monitor its supply chain and to seek alternative sources. Management will continue to monitor the ongoing status and developments of the conflict and its potential impacts over the Company’s operations, customers and suppliers. The Company has no material asset or liability exposed to Russia, Belarus or Ukraine as of December 31, 2021, therefore no relevant accounting impact was identified until the date of authorization for issuance of these consolidated financial statements. |
Presentation of the Financial_2
Presentation of the Financial Statements and Accounting Practices (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
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Functional and presentation currency | 2.2.1 Functional and presentation currency A Company’s functional currency is the currency of the primary economic environment in which it operates and should be the currency that best reflects company’s business and operations. Based on this analysis, management has concluded that the US Dollar (“US$” or “Dollar”) is its functional currency, based on analysis of the following indicators: • Currency that most influences the prices of goods and services; this is the currency in which the sales price of its goods and services are expressed and settled. • Currency of the country whose competitive forces and regulations most influence the Company’s business. • Currency that most influences the costs of providing goods or services, i.e., the currency in which the Company’s costs are normally expressed and settled. • Currency in which the Company largely obtains funds for financial operations and in which it normally receives for its sales and accumulates cash. |
Transactions in foreign currencies | 2.2.2 Transactions in foreign currencies Transactions in other currencies (other than the functional currency) are translated into the functional currency at the foreign exchange rates in force on the transaction dates. The amounts are updated at the exchange rates of the reporting dates. Foreign exchange gains and losses resulting from this translation (in relation to monetary assets and liabilities indexed in currencies other than the functional currency) are recognized in the consolidated statements of income as foreign exchange gain (loss), net. Customer advances and advances to suppliers for goods and/ or services in foreign currencies are translated to the Company’s functional currency in the transaction date and no subsequent translation is recognized. The results and financial position of foreign subsidiaries that have a functional currency different from the Company’s functional currency are translated into the functional currency as follows: • Assets and liabilities for each statements of financial position presented are translated at the closing rate at the date of that statements of financial position. • Income and expenses for each statement of income and statements of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and • All resulting exchange differences are recognized in the statements of comprehensive income in the line of translation adjustments. Goodwill and fair value adjustments arising on the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the closing rate, with foreign exchange gain (loss) being recognized as other comprehensive income. |
Financial Instruments | 2.2.3 Financial Instruments a) Financial assets a.1) Recognition and measurement Financial assets are recognized when the Company becomes part of the instrument’s contractual arrangements. They are initially measured at fair value, plus transaction costs attributable to their acquisition or issuance, except for instruments measured at fair value through profit or loss, for which these costs are recognized immediately in the consolidated statements of income. The Company classifies its financial assets under the following categories: (i) measured as at amortized cost, (ii) measured as at fair value through other comprehensive income and (iii) measured at fair value through profit or loss. Financial assets are not reclassified subsequent to initial recognition, unless the Company modifies the business model for the management of these financial assets, in which case all affected assets are reclassified on the first day of the new business model. Financial assets are derecognized when the contractual rights to receive cash flows from the asset expires or are transferred in a transaction in which substantially all the risks and benefits of ownership of the financial asset are transferred by the Company. a.2) Classification and subsequent measurement The Company classifies financial assets as measured at amortized cost only if both criteria are met: • The asset is held within a business model whose objective is to collect the contractual cash flows; and • The contractual terms give rise to cash flows, at specific dates, which relate only to the payments of principal and interest. Financial assets measured as at amortized cost by the Company includes cash and cash equivalents, certain financial investments, trade accounts receivable, customer and commercial financing, contract assets, guarantee deposits and other financial assets. Financial assets measured as at fair value through other comprehensive income (FVOCI) are assets held within a business model whose purpose is achieved both through the receipt of contractual cash flows and the sale of financial assets, as well as their contractual terms generate, on specific dates, cash flows that are related only to payments of principal and interest. Changes in fair value of FVOCI financial assets are recognized in other comprehensive income ( ) All financial assets not classified by the Company as measured at amortized cost or as FVOCI are classified as at fair value through profit or loss (FVTPL). These assets include financial assets held for active and frequent trading and derivative financial instruments. (i) Business model evaluation The Company evaluates the business model objective for the management of financial assets as part of the accounting classification of the instruments. The factors considered in this evaluation are: • The current financial policy and the objectives set for portfolio management, which includes assessing whether the strategy focuses on contractual interest income, maintaining a determined interest rate profile, the relationship between the duration of the financial assets and related liabilities, expected cash outflows, or the collection of cash flows through the sale of underlying financial assets. • How portfolio performance is assessed and reported to Management. • Risks that affect the performance of the business model and how they are managed. • The frequency, volume and timing of assets sales in prior periods, the reasons for such transactions and future expectations. (ii) Evaluation if contractual cash flows are only principal and interest payments To assess whether contractual cash flows are only principal and interest payments, the principal is defined as the fair value of the financial asset at the initial recognition, and interest as a consideration for the time value of money, the credit risk associated with value of principal outstanding during contractual terms, other risks and general costs of loans, as well as the profit margin in the transaction. This evaluation is made by considering the contractual terms of the financial assets, which includes, in addition to evaluating whether the contractual cash flows are only principal and interest payments, the existence of terms that could change the timing or value of the contractual cash flows which would not meet the definition, including: contingent events, terms that can adjust contractual rates, prepayment and extension of due dates, and terms that limit access to cash flows of specific assets. b) Financial liabilities The Company classifies its financial liabilities in the following categories: (i) measured at amortized cost and (ii) fair value through profit or loss. A financial liability is measured at fair value through profit or loss if it is held for trading or is a derivative financial instrument, and its changes, including interest, is recognized in the consolidated statements of income. Changes in other financial liabilities measured as at amortized cost, including interest and exchange variation, are recognized in the consolidated statements of income under financial income (expenses), net caption, except for the exchange variation recognized as foreign exchange gain (loss), net. Financial liabilities are derecognized when contractual obligations are withdrawn, canceled or expired. The difference between the extinct book value and the consideration paid (including transferred assets or assumed liabilities) is recognized in the consolidated statements of income. |
Cash and cash equivalents and financial investments | 2.2.4 Cash and cash equivalents and financial investments Cash and cash equivalents include cash in hand, cash in transit (amounts paid by our customers or debtors that are pending release by the intervening bank at the reporting date), bank deposits and highly liquid short-term investments, maturing within 90 days of the investment date, readily convertible into a known amount of cash and subject to an insignificant risk of change in value. Amounts related to cash and cash equivalents, which are however not available for use by the Company, are presented within other assets in the consolidated financial statements. Other financial investments with maturities of more than 90 days from the acquisition date are presented as financial investments. |
Trade accounts receivable and customer and commercial financing | 2.2.5 Trade accounts receivable and customer and commercial financing When making a sale, the Company evaluates its payment terms. If the sale amount is not received immediately, which is the case with aircraft sales, it will be recognized in the trade accounts receivable. The amount receivable when the payment is deferred by the customer is adjusted to present value if applicable, identifying an interest rate compatible with the market at the time of sale and applying it to the amount receivable according to the transaction payment terms. Expected credit losses are recognized using actual credit loss experiences from the last years and follow-up Customer and commercial financing relate to accounts receivable transactions identified with significant financing component. As of December 31, 2021, the Company held a limited number of transactions with significant financing component. The Company applies the lifetime model to estimate the expected credit losses over receivables recorded as customer and commercial financing. The expected credit losses are estimated considering the customer’s probability of default based on contractual term as defined on each applicable agreement and updated on a reporting date basis. The fair value of collateral components is considered to cover and reduce the credit exposure assumed (whether partially or in its entirety) as well as the expected credit losses recognized. |
Derivative financial instruments | 2.2.6 Derivative financial instruments The Company uses derivative instruments to hedge its operations against the risk of fluctuations in foreign exchange and interest rates; they are not used for speculative purposes. Gains and losses on derivative transactions are recorded in consolidated statements of income, considering the fair value of these instruments. The unearned gains and losses are recognized in the consolidated statements of financial position under derivative financial instruments, and the counterpart in consolidated statements of income under financial expense, net, (Note 34), except for operations to hedge exposure to changes in exchange rate or designated as cash flow hedge, which is recognized as other comprehensive income (loss) in shareholders’ equity. |
Hedge accounting | 2.2.7 Hedge accounting The Company uses hedge accounting to book certain derivative financial instruments applied to hedge risks of fluctuations in foreign exchange and interest rates in transactions associated with firm commitments and highly probable forecast transactions. On the hedge’s initial designation, the Company formally documents the relationship between hedge instruments and hedged items, including the risk management objectives and the strategy for conducting the transaction, together with the methods used to evaluate the effectiveness of hedge relationship. The fair value of derivative financial instruments designated as hedge accounting is presented in Note 8 8 a) Fair value hedge Fair value hedge is applied for derivative financial instruments that hedge the Company against risk of fluctuations in interest rates (hedged risk) of loans and financing. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in income or loss, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest rate swaps is recognized in income or loss as financial expense, net. The gain or loss relating to the ineffective portion is recognized in income or loss within financial expense, net. b) Cash flow hedge Cash flow hedge is applied for hedging risks associated with the volatility of cash flows in foreign currency associated with highly probable forecast transaction that will impact income or loss, in this case the payroll expenses of personnel in Brazil settled in Brazilian Real. The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in the cash flow hedge reserve within equity. The gain or loss relating to the ineffective portion is recognized immediately in income or loss, within financial expenses, net. Where option contracts are used to hedge forecast transactions (put and call options of foreign currency), the Company designates only the intrinsic value of the options as the hedging instrument. Gains or losses relating to the effective portion of the change in intrinsic value of the options are recognized in the cash flow hedge reserve within the shareholders’ equity. The changes in the time value of put and call options that relate to the hedged item (‘aligned time value’) are recognized as hedge costs in other comprehensive income (loss) within shareholders’ equity. Amounts accumulated in shareholders’ equity are reclassified in the periods when the hedged item affects income or loss. When a hedging instrument expires, or is sold or terminated, or when a hedge no longer meets the criteria for hedge accounting, any cumulative deferred gain or loss and deferred costs of hedging in shareholders’ equity at that time remains in shareholders’ equity until the highly probable forecast transaction occurs, when it is reclassified to income or loss along with the gain or loss of forecast transaction. When the forecast transaction is no longer expected to occur, the cumulative gain or loss and deferred costs of hedging that were reported in shareholders’ equity are immediately reclassified to income or loss within financial expense, net. c) Effectiveness of hedge accounting Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. For fair value hedges, the Company enters into interest rate swaps where the critical terms of the hedging instrument match exactly with the terms of the hedged item, as notional value, payment term and cash outflow dates. Since all critical terms matched during the year the hedge relationship was 100% effective. In the case of cash flow hedges designated to hedge the volatility of payroll expenses settled in Brazilian Real, the Company enters into zero-cost |
Inventories | 2.2.8 Inventories The Company’s inventories are largely comprised of raw material, work in progress, spare parts and finished goods. Inventories of raw materials are recognized at acquisition cost. Inventories of work in process comprise raw materials, direct labor, other direct costs and general production costs attributable to the cost of the inventories. Once the products have been completed, they are recognized as finished products. Inventories of raw material and spare parts are recognized as at the weighted average cost. Manufactured aircrafts (finished goods) and work in progress are measured at their individual production cost, which is recognized as cost of sales and services in the consolidated statements of income when aircraft are delivered to the customer. Inventories are assessed periodically to determine whether the net realizable value is higher than its cost and impairment loss is recognized if the book value is higher as cost of goods sold and services rendered. Provision for obsolescence is recorded for items without activity for over two years and with no planned use in the production program, and to cover expected losses from excess inventories or obsolete work in progress, except for inventories of spare parts, for which the provision is based on technical obsolescence of items without activity for over two years. The Company holds used aircraft for resale, usually received in trade-in |
Income tax and social contribution | 2.2.9 Income tax and social contribution Tax expenses for the year comprise current and deferred income tax. Income tax is recognized in the consolidated statements of income, except the portion of deferred income tax related to items recognized directly in the consolidated shareholders’ equity in other comprehensive income. The current income tax is calculated considering the effective tax laws on reporting date in the countries which the Company operates and generates taxable income, wherein 34% in Brazil, composed of 25% income tax and 9% social contribution on net income. Management evaluates on a recurring basis uncertain tax positions taken by the Company in the current income tax calculation based on the applicable tax laws, and records a provision, when appropriated, based on the estimated amount to be paid to tax authorities. Further details related to accounting practice related to uncertain tax positions are described in Note 2.2.19. Deferred income tax is recognized on temporary differences arising between the tax and accounting basis of assets and liabilities. Deferred income tax asset is recognized solely based on future taxable income available to reverse the temporary differences. Deferred income tax assets and liabilities are presented net in the statements of financial position when there is intention and the legal right is enforceable to offset the amounts in the current income tax calculation, and mainly related to the same legal entity and same tax authority. Therefore, deferred tax assets and liabilities of different legal entities and/or tax jurisdictions are generally presented gross. |
Assets held for sale | 2.2.10 Assets held for sale An asset or group of assets and liabilities is held for sale when its carrying amount is expected to be recovered mainly through the sale transaction rather than through continuing use. This occurs if the asset is available for immediate sale “as is”, subject only to usual and customary terms for completion of the transaction, when the sale is defined as highly probable. The group of assets and liabilities held for sale (disposal group) are measured at the lower of their carrying amount and fair value less incremental costs directly attributable to the conclusion of sale transaction. Upon the classification as assets held for sale, the depreciation and amortization of non-current Impairment losses of assets held for sale, or group of assets and liabilities held for sale, are recognized as other operating expense, net in the statements of income. |
Investments | 2.2.11 Investments Investments in associates are recorded and valued in the consolidated financial statements using the equity method of accounting. In the case of exchange variations on foreign investments that use a functional currency other than that used by the Company, such exchange variations are recognized in cumulative translation adjustments within shareholders’ equity, and are only recognized in the consolidated statements of income when the investment is sold or expensed. |
Property, plant and equipment, net | 2.2.12 Property, plant and equipment, net Property, plant and equipment are recognized by the acquisition, formation or construction cost, less accumulated depreciation and impairment losses. Depreciation is calculated by the straight-line method based on the asset’s estimated useful life, Note 15. Land is not depreciated. The estimated useful lives are reviewed and adjusted, if appropriated, at the end of each fiscal year. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company. The Company estimates the residual value for certain aircraft spare parts included in the exchange pool program, which is reviewed by Management and, if necessary, adjusted at the end of each reporting period. The Company does not attribute residual values to other assets as assets are not usually sold and in the event of a sale, the amount is not significant. The items comprising property, plant and equipment are summarized below: a) Land - b) Buildings and land improvements - c) Facilities - d) Machinery and equipment - e) Furniture and fixtures f) Vehicles - g) Aircraft - h) Computers and peripherals - i) Tooling - j) Property, plant and equipment in progress - k) Exchange pool program - |
Intangible assets, net | 2.2.13 Intangible assets, net a) Development Research costs are recorded as an expense when they are incurred. Project costs, comprised mainly of expenditure on product development, including drawings, engineering designs and construction of prototypes, are recorded as intangible assets when it is probable that the projects will generate future benefits, taking into account their commercial and technological feasibility, availability of technological and financial resources, and only if the cost can be reliably measured. Capitalized development costs are amortized from the time at which benefits begin to accrue based on units produced, and the amortized amounts are appropriated to production cost. Revision of the amortization quota is made at least annually. The Company has agreements with certain key suppliers, hereby denominated partners, who participate in the Company’s research and development projects by contributing cash. The Company records such contributions as financial liability on receipt and when the milestones are completed and amounts not refundable, the contributions are reclassified as reduction of intangible assets (development expenditure) and amortized following the same intangible amortization criteria. b) Computer software Software licenses are capitalized and amortized over their estimated useful lives. Costs associated with maintaining computer software programs are recognized as expense as incurred. Development costs directly attributable to identifiable and unique software, controlled by the Company and that is expected to generate benefits greater than the costs for more than one year, are recorded in intangible assets. |
Impairment of long-lived assets | 2.2.14 Impairment of long-lived assets At the end of each fiscal year, the Company performs impairment test for all cash-generating units (CGUs) with goodwill generated from business combination allocated and for CGUs with intangible assets still under development and not yet producing (undefined useful life). CGUs with definite-lived assets (property, plant and equipment, and intangibles) allocated are analyzed, at each quarter, whether there is any indication it might be impaired to perform the impairment test. Assets are grouped in CGUs taking into consideration the Company’s business model and its monitoring of cash flows. In general, the CGUs are defined in accordance with the families or platforms of aircrafts or other goods and services produced by the Company, irrespective of its geographic location. The Company applies the value in use concept, using discounted cash flow projections, discounted at an appropriate rate which reflects the investors’ expectations of return. The cash flow projections for the CGUs take into consideration the Company’s medium and long-term strategic plan, based on the characteristics and expectations of the business. When the impairment test is performed, Management compares the carrying amounts of the Company’s CGUs with its recoverable amounts, which is determined at the higher between its value in use and fair value less cost to sell. An impairment charge is recognized when the carrying amount exceeds the recoverable amount. Any impairment losses of a CGU are recognized in the consolidated statements of income in the line of other operating income expense, net and allocated to relevant assets of the impaired CGU. The exception to this concept is aircraft that the Company held in its property, plant and equipment for operating leases purposes, in which the Company acts as lessor. In this case, the aircraft are tested individually using the higher of their value in use and its market value to determine the recoverable amount. For impairment test purposes, the market value is estimated with the assistance of an assessment prepared by third party appraisals and the value in use is determined by the discounted cash flow of lease agreement associated with each aircraft tested, when applicable. Long-lived assets, except goodwill, adjusted for impairment losses are reviewed subsequently for a potential reversal scenario on the reporting date. Impairment losses recognized over goodwill are not reversed. The reversal of impairment losses for a cash-generating unit is allocated to the CGU assets, except goodwill, on a pro rata basis and up to the carrying amount of these assets (net of depreciation and amortization). Reversal of impairment losses is recognized in the line of other operating expense, net. Assets held for sale are tested for impairment in accordance with practice described in Note 2.2.10. |
Leases | 2.2.15 Leases The lease agreements which the Company act as lessee and are accounted under IFRS 16 mainly refers to lease of buildings, offices, lands and vehicles signed by subsidiaries domiciliated outside Brazil (United States and Europe). The term of those agreements varies in the range of to up years, and the average discount rate applied to the agreements with maturity higher than years is % p.a. a) Right-of-use The Company recognizes right-of-use right-of-use right-of-use right-of-use Right-of-use Expenses on the depreciation of the right-of-use b) Lease liabilities On the lease inception date, the Company recognizes lease liabilities measured at the present value of lease payments to be made during the lease term, which is measured based on the contract term and renewal options. Lease payments include fixed payments less any lease incentives received. Variable lease payments not dependent on an index or rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs. When calculating the present value of lease payments, the Company uses the incremental borrowing rate. After the inception date, the amount of the lease liability is increased to reflect the increase of interest, adjustments of installments and reduced for lease payments made. Moreover, the carrying amount of the lease liability is remeasured in case of any modification, a change in the lease term, a change in fixed lease payments or a change in valuation to acquire the underlying asset. Interest is recognized as financial expense, net in the statements of income for the year. (i) Determination of the lease term: The Company determines the contractual term as the non-cancelable The Company reassesses the lease term if there is an event or significant change under circumstances that are under its control and affect its capacity to exercise (or not exercise) the option to renew (e.g. a change in the business strategy). (ii) Short-term leases and low-value The Company applies the short-term lease recognition exemption to all its leases with the contractual term below or equal to 12 months from the inception date and without a purchase option. The practical expedient of recognition exemption for low-value low-value |
Loans and financing | 2.2.16 Loans and financing Loans are recognized initially at fair value, net of transaction costs, and subsequently carried at amortized cost (plus charges and interest on a pro rata basis), considering the effective interest rate on each transaction. Loans are classified as current or non-current When a substantial period is required for construction or production of an asset before it is ready for use (qualifying asset), the borrowing costs are capitalized as part of the cost of such assets. The costs are allocated based on the average rate for all active loans, weighted in accordance with additions in the period. Borrowing costs are interest and other costs incurred by the Company in obtaining funding. |
Financial guarantees and residual value guarantees | 2.2.17 Financial guarantees and residual value guarantees In certain aircraft sales transaction of the Commercial Aviation, the Company might grant financial or residual value guarantees on delivery of these aircraft, as part of the aircraft sale and financing structure. The residual amount is guaranteed to the lender in the residual value guarantees based on the expected future value of the aircraft at the end of the funding, subject to a maximum limit, agreed by the contract. Residual value guarantee is measured at fair value through profit or loss on each reporting date with changes recognized as financial expenses, net. The exercise of residual value guarantee can be claimed by the customer in the end of guarantee term if contractual conditions are met or through settlement agreement. The catch-up Financial guarantees are measured at the time of aircraft delivery (premium received) and recognized as a reduction in sales revenue. The premium income is amortized to the consolidated statements of income on a monthly basis based on the guarantee coverage term. |
Unearned income | 2.2.18 Unearned income Unearned income comprises government grants received by the Company and its subsidiaries. Government grants are recognized against the expenses in which the resources were used. When government grants are received in advance for research investments they are recorded as unearned income and recognized in the consolidated statements of income to the extent that the resources are invested and contractual milestones are met, as reduction of research expenses. Government grants for the acquisition of property, plant and equipment are recognized as debt (loans and financing) in liabilities until the milestones determined by the granting entity are met. Once the milestones are completed, the grant is recognized as unearned income. This unearned income is recognized in the consolidated statements of income as a reduction of the depreciation expense of the underlying asset it is proposed to subsidize in proportion with the recognition of the expense. Income earned with non-distributable |
Provisions, contingent assets and liabilities, legal obligations and court-mandated escrow deposit | 2.2.19 Provisions, contingent assets and liabilities, legal obligations and court-mandated escrow deposit Provisions – provisions are recognized based on the judgment of the Company’s Management and its legal counsel, the nature of the lawsuits, legal precedent, complexity and court interpretations, whenever the loss is considered probable, when such loss would result in a probable outflow of resources to settle the obligations and when the amounts involved can be reasonably estimated, the provision is recognized. The provision for labor claims is recognized based on the Company’s historical percentage of cash outflows of each demand. The amounts provided represent the Company’s best estimate of the anticipated outflow of resources. Tax positions - for income tax matters a provision is recognized when the Company’s Management evaluates with the assistance of its legal advisors that an uncertainty over income tax treatments taken during the fiscal years subject to tax authorities’ examinations, or under discussions in administrative or legal instances with tax authorities, is not probable to be accepted by decisions of the court of last resort. Contingent liabilities – amounts for which disbursement is classified as possible risk of loss are disclosed but not recorded in the consolidated financial statements. Where the probability of loss is classified as remote, neither provision nor disclosure are required. For income tax matters under administrative discussion or legal demand with tax authorities, the Company discloses the amounts of income tax treatments taken that in its assessment is probable to be accepted by decisions of the court of last resort. Legal obligations - relates to tax payables under the Brazilian law for which the Company has accrued the corresponding liability but initiated legal disputes challenging their applicability. Such tax liabilities under discussion are fully recognized as tax payables in the consolidated financial statements. Court-mandated escrow deposits - recorded as other assets and periodically updated for monetary correction. |
Product warranties | 2.2.20 Product warranties Warranty expenditure on aircraft is estimated on the delivery of these products. The estimates are based on historical data that includes, among others, warranty claims and related repair or replacement costs, warranties given by the suppliers, contractual coverage period and warranty patterns for new aircrafts, for which the Company expects higher warranty costs in the launch of new models until the production process matures and increases the platform in service period. The coverage period varies from 3 to 6 years. The Company may be obliged to modify the product to meet the requirements of the certification authorities, or after delivery, due to improvements or to the aircraft’s performance. The costs of such modifications are provisioned when the new requirements or improvements are requested and known. Management reviews the assumptions and the evolution of warranty related costs periodically, and if appropriated, adjustments to the provision is recorded. The product warranties balances are presented in the provisions caption in the consolidated statements of financial position, Note 25.1. |
Post-retirement benefits | 2.2.21 Post-retirement benefits a) Defined contribution The Company provides defined contribution pension plans for its employees. For the companies incorporated in Brazil, these are managed by EMBRAER PREV - Sociedade de Previdência Complementar. b) Post-retirement healthcare benefits The Company and some of its subsidiaries provide healthcare benefits to retired employees. The planned costs of offering post-retirement healthcare benefits and coverage for dependents are recorded as a provision during the period of employment based on actuarial studies conducted to identify future exposure, based on the following main premises: i) Discount rate - brings future benefit flows to present value and is defined based on the ratio of Brazilian government securities. ii) Increase of medical costs rate - represents the increase in the value of medical care and is not applied linearly, as the companies historically tend to take measures to reduce the cost, or even change health plan providers. iii) Morbidity rate (aging factor) - measures the increased use of health plans in light of the aging population. iv) Mortality rate - uses the RP-2000 v) Probability of Retirement - estimates the probability of retirement by age group. vi) Churn rate - uses the T-3 The Company recognizes changes in the provision for the plan against other comprehensive income in the equity valuation adjustments account in consolidated shareholders’ equity, net of taxes, to the extent that there are changes in the assumptions and against consolidated statements of income if there are changes in the costs of the current benefit plan or in the plan’s contractual characteristics. This provision is reviewed at least annually. |
Employee profit sharing plan | 2.2.22 Employee profit-sharing plan The Company provides a profit-sharing plan for its employees, which is linked to performance targets established in action plans set and agreed at the beginning of each year. The profit-sharing approved by current policy is equivalent to a percentage of a monthly compensation of each employee (varying from 25% to 50%) associated with fulfillment of individual and corporative targets. Provisions are recognized monthly by applying the agreed percentage to the payroll of the Company, recognized in the consolidated statements of income accounts related to the function performed by each employee (costs or expenses). The Company performs advance payment of up to 50% of amounts due for each employee under the profit-sharing plan during the fourth quarter of fiscal year being evaluated, and the remaining portion is not paid until April of next fiscal year when the evaluation of results and targets for fiscal year ended is already completed. |
Share-based payment | 2.2.23 Share-based payment The Executive Remuneration Policy (PRE) determines that the remuneration of the Company’s management shall be granted as a Long-Term Incentive (LTI) with the objective of retaining and attracting qualified personnel who will make an effective contribution to the Company’s performance. The Company provides one type of share-based remuneration in the form of LTIs during the current fiscal year: Cash-settled phantom shares plan, in which the amounts attributed to the services provided by the participants are converted into virtual share units based on the market value of the Company’s shares. At the end of the vesting period the participant receives the quantity of virtual shares converted into Real, at the shares’ current market value. The Company recognizes the obligation during the vesting period (quantity of virtual shares proportional to the period) in the same group as the participant’s normal remuneration. This obligation is presented as an account payable to employees and the fair value is calculated based on the market price of the shares and registered as financial expense, net in the consolidated statements of income. The phantom shares plan is a cash-settled |
Earnings per share | 2.2.24 Earnings per share Basic and diluted earnings per common share are computed by dividing net income attributable to Embraer shareholders by the weighted average number of common shares outstanding during the fiscal year. The Company has no stock options available which could potentially dilute outstanding common shares. |
Revenue recognition of contract with customers | 2.2.25 Revenue recognition of contract with customers Revenue comprises the fair value of the consideration received or to be received for the sale of products and services in the ordinary course of business. Revenue is presented net of taxes, returns, reductions and discounts, and in the consolidated financial statements, after eliminating intercompany sales. a) Revenue from sales of aircraft and spare parts Revenues from aircraft and spare parts sales are recognized when the control is transferred to the customer, that is, when all recognition conditions are met. Revenues from commercial, executive and agricultural aircraft and spare parts are generally recognized upon delivery or shipment to the customer. In aircraft sales contracts, the Company normally receives customer advances before the product control is transferred. The Company asserts that there is no significant financing component in this operation. For the spare parts sale contracts, the client makes the payment after the transfer of control, with average payment term of 30 days. In sales of aircraft contracts, other performance obligations, such as supply of spare parts, training services, technical assistance and other obligations may be presented, which may or may not be delivered simultaneously to the aircraft delivery. For the Commercial and Executive Aviation contracts, the individual selling price is allocated for these additional performance obligations, and the variable considerations (as discounts), are allocated using the cost-plus margin method. In the Defense & Security aircraft sales, there is no stand-alone price basis considering its high customization, the price is allocated in the performance obligation considering the cost-plus margin method. For these performance obligations, the revenue is recognized when the control of related product or service is transferred to the customer. b) Revenue from services Services revenue are recognized over time of control transfer to the customer, that is, to the extent that services are rendered over time. The performance obligations of such contracts are satisfied and recognized in the consolidated statements of income over time. Services mainly includes technical services, training, maintenance of aircraft and parts, modernization services and support programs. The average payment term is 30 days, and for some services, such as modernization of Defense aircraft, the client’s payment schedule follows a schedule agreed between the parties. Exchange pool programs and total support programs revenues are recognized monthly during the contract period, because there is no customer use pattern that can be reliably projected, and consist of a fixed rate and part of a variable rate directly related to the hours actually flown by the aircraft covered in these programs. c) Revenue from long-term contracts (Defense & Security) In the Defense & Security segment, most of the sales contracts are characterized by the high customization of the products and development of new technologies whose transfer of control to the customer occurs over time of development and production of aircraft or new technology as a single performance obligation. In such contracts, their revenues The adequacy of revenue recognition related to development contracts in the Defense & Security segment is based on Management’s best estimates of total estimated costs at completion, as they become evident. The Company understanding is that the cost incurred method provides the most reliable basis for estimating the progress of contracts whose revenues are recognized over time. There are no significant financing components in the long-term contracts of the Defense & Security segment. The payment terms are mainly aligned with the stages of execution and deliveries of each contract, as agreed by the Company and the customers, and there is no willingness on either side to finance the other. d) Contract assets and liabilities The contract assets relate to the Company’s rights to the consideration for the work completed and not billed at the date of the consolidated financial statements, mainly from long-term Defense & Security contracts that are recognized over time as noted above, and net of customer advances received and expected credit losses recognized. Contract assets are transferred to trade accounts receivable when the rights become unconditional. Expected credit losses are calculated over the contract assets balances, as detailed in Note 2.2.5. Contract liabilities refer to non-refundable e) Costs to obtain a contract Refers to incremental costs incurred by the Company solely to obtain contracts with customers that will be recovered in the fulfillment of these contracts, such as costs incurred with sales commissions and bank guarantees granted in Defense & Security long-term contracts. Assets for obtaining contracts are capitalized as other assets and amortized when (or as) the related contract revenue is recognized. |
Cost of sales and services | 2.2.26 Cost of sales and services Cost of sales and services consists of the cost of the aircraft, spare parts and services rendered, comprising: a) Material - b) Labor - c) Depreciation - d) Amortization - e) Product warranties - f) Multiple-element arrangements |
Financial expense, net and foreign exchange gain (loss), net | 2.2.27 Financial expense, net and foreign exchange gain (loss), net Financial expense, net and foreign exchange gain (loss), net principally comprise interest income on cash and cash equivalents and financial investments measured as at amortized cost and FVOCI, financial charges on loans, tax updates and foreign exchange gain (loss) on assets and liabilities expressed in currencies other than the functional currency (US dollars), on an accrual basis. Gains or losses on fair value changes of FVTPL financial instruments are also recognized as financial expense, net. Changes in the fair value of the residual value guarantees and income or loss on the provision and implementation of derivative financial instruments capitalized are also recorded as financial expense, net in the consolidated statements of income. Financial income and expense exclude borrowing costs attributable to acquisitions, buildings or the contribution of qualifying assets that require a substantial period to be ready for use or sale. |
Statement of cash flows | 2.2.28 Statement of cash flows The statement of cash flows was prepared using the indirect method. |
Segment reporting | 2.2.29 Segment reporting Operating segment information is presented in a manner consistent with the internal reports provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources among and assessing the performance of the operating segments and for making strategic decisions, is the Chief Executive Officer. Generally, balances and transactions that are not directly allocated to a specific operating segment but contributed to its operations, such as corporate area expenses, are appropriated on pro-rata |
Revision of the consolidated statements of financial position | 2.1.5 Revision of the consolidated statements of financial position as of December 31, 2020 During the current year (2021), the Company had identified adjustment in the amount of US$ 31.6 to be corrected in the valuation of certain items booked as inventories of raw materials in periods prior to the January 1, 2020. Management concluded that the correction of this adjustment does not have material impact over the financial position and performance of the Company previously reported in the most recent annual consolidated financial statements as of and for the three-year period ended December 31, 2020; however, the correction of this adjustment in the current year results (2021) as an out-of-period The following schedules presents the revised consolidated statements of financial position as of December 31, 2020 and the shareholders’ equity opening balance as of January 1, 2020: 12.31.2020 ASSETS Published Adjustment Recasted CURRENT Inventories 2,469.5 (31.6 ) 2,437.9 Other assets 8,078.1 — 8,078.1 TOTAL ASSETS 10,547.6 (31.6 ) 10,516.0 TOTAL LIABILITIES 7,608.5 — 7,608.5 SHAREHOLDERS’ EQUITY Capital 1,551.6 — 1,551.6 Treasury shares (25.7 ) — (25.7 ) Revenue reserves 1,377.8 — 1,377.8 Share-based remuneration 37.4 — 37.4 Accumulated other comprehensive loss (114.6 ) — (114.6 ) Retained earning — (31.6 ) (31.6 ) Non-controlling 112.6 — 112.6 TOTAL SHAREHOLDERS’ EQUITY 2,939.1 (31.6 ) 2,907.5 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 10,547.6 (31.6 ) 10,516.0 01.01.2020 ASSETS Published Adjustment Recasted CURRENT Inventories 1,304.4 (31.6 ) 1,272.8 Other assets 9,268.1 — 9,268.1 TOTAL ASSETS 10,572.5 (31.6 ) 10,540.9 TOTAL LIABILITIES 6,957.9 — 6,957.9 SHAREHOLDERS’ EQUITY Capital 1,551.6 — 1,551.6 Treasury shares (26.5 ) — (26.5 ) Revenue reserves 2,110.0 — 2,110.0 Share-based remuneration 37.4 — 37.4 Accumulated other comprehensive loss (154.8 ) — (154.8 ) Retained earning — (31.6 ) (31.6 ) Non-controlling 96.9 — 96.9 TOTAL SHAREHOLDERS’ EQUITY 3,614.6 (31.6 ) 3,583.0 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 10,572.5 (31.6 ) 10,540.9 |
Presentation of the Financial_3
Presentation of the Financial Statements and Accounting Practices (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Company's Corporates Structure | Below is presented information regarding the consolidated subsidiaries as of December 31, 2021: Entity Participation Country Core activities Airholding S.A. 100 % Portugal Coordinates investments in subsidiaries in Portugal OGMA -Indústria Aeronáutica de 65 % Portugal Aviation maintenance and production Yaborã Indústria Aeronáutica S.A. 100 % Brazil Concentrates the production and commercialization of Commercial Aviation ELEB – Equipamentos Ltda. 100 % Brazil Sale of hydraulic and mechanical equipment for the aviation industry Embraer Overseas Ltd. 100 % Cayman Islands Financial operations raising and investing funds of the Embraer Group Embraer Netherlands Finance B.V. 100 % Netherlands Financial operations raising and investing funds of the Embraer Group Embraer Netherlands B.V. 100 % Netherlands Concentrates corporate activities in Europe for leasing and selling used aircraft Embraer Asia Pacific PTE. Ltd. 100 % Singapore Sale of spare parts and support services in Asia Embraer Portugal S.A. 100 % Portugal Coordinates investments and economic activities in subsidiaries in Portugal Embraer - Portugal Estruturas 100 % Portugal Fabrication of steel parts and products for the aviation industry Embraer - Portugal Estruturas em 100 % Portugal Fabrication of composite parts and products for the aviation industry Embraer (China) Aircraft Technical 100 % China Sale of spare parts and support services in China EZ Air Interior Limited 50 % Ireland Fabrication of interiors for commercial aircraft Embraer Aircraft Holding Inc. 100 % EUA Concentrates corporate activities in the USA Embraer Aircraft Customer Services, 100 % EUA Sale of spare parts and support services in North America and the Caribbean Embraer Aircraft Maintenance Services 100 % EUA Maintenance of aircraft and components Embraer Business Innovation Center, 100 % EUA R&D of technological innovations in the aerospace sector and related areas Embraer Executive Jet Services, LLC 100 % EUA After sale support and aircraft maintenance Embraer Executive Aircraft, Inc. 100 % EUA Final assembly and delivery of executive jets Embraer Engineering & Technology 100 % EUA Engineering services related to aircraft research and development Embraer Defense and Security Inc. 100 % EUA Supply of Super Tucano aircraft to the American Air Force (LAS) Embraer CAE Training Services 51 % EUA Pilot, mechanic and crew training Embraer Solutions, LLC 100 % EUA Sale of spare parts and support services for the Executive Aviation EVE UAM, LLC. 100 % EUA Aircraft development, design, manufacturing, selling, certification EVE Soluções De Mobilidade Aérea 100 % Brazil Eve’s subsidiary with operations in Brazil Embraer Aviation Europe - EAE 100 % France Concentrates corporate activities abroad, specifically Europe Embraer Aviation International - EAI 100 % France Sale of parts and after sale services in Europe, Embraer Aviation France - EAF 100 % France Sale of spare parts and support services in Europe Embraer Europe SARL 100 % France Commercial representation of the Company in Embraer Defesa & Segurança 100 % Brazil Coordinates investments in the Defense & Atech - Negócios em Tecnologias S.A. 100 % Brazil Development and control, communications, Visiona Tecnologia Espacial S.A. 51 % Brazil Supply and development of satellite solutions Visiona Internacional B.V. 100 % Netherlands International subsidiary of Visiona Tempest Serviços de Informática 61 % Brazil Research, development and services in the areas of Information Technology, Information Security and Intelligence Tempest Security Intelligence 100 % UK Retail trade of computer products, maintenance, repair and related services EZS Informática S.A. 100 % Brazil Retail trade of computer products, maintenance, repair and related services ID IT Tecnologia da Informação 99 % Brazil Development and licensing of customizable computer programs, information technology consulting, data processing, application service providers and internet hosting services Embraer GPX Ltda 100 % Brazil No operations Embraer Spain Holding Co. SL 100 % Spain Concentrates corporate activities abroad ECC Investment Switzerland AG 100 % Switzerland Coordinates investments in subsidiaries abroad ECC Insurance & Financial 100 % Cayman Islands Covers financial guarantees offered in aircraft sale structuring Embraer Finance Ltd. 100 % Cayman Islands Support to the Company in structuring specific operations Fundo de Investimento em 100 % Brazil Exclusive fund created with the objective of technological and financial aggregation based on investment and support to small and medium-sized companies focused on disruptive innovation in areas related to the A&D sector. |
Summary Of Revised Consolidated Financial Statements | The following schedules presents the revised consolidated statements of financial position as of December 31, 2020 and the shareholders’ equity opening balance as of January 1, 2020: 12.31.2020 ASSETS Published Adjustment Recasted CURRENT Inventories 2,469.5 (31.6 ) 2,437.9 Other assets 8,078.1 — 8,078.1 TOTAL ASSETS 10,547.6 (31.6 ) 10,516.0 TOTAL LIABILITIES 7,608.5 — 7,608.5 SHAREHOLDERS’ EQUITY Capital 1,551.6 — 1,551.6 Treasury shares (25.7 ) — (25.7 ) Revenue reserves 1,377.8 — 1,377.8 Share-based remuneration 37.4 — 37.4 Accumulated other comprehensive loss (114.6 ) — (114.6 ) Retained earning — (31.6 ) (31.6 ) Non-controlling 112.6 — 112.6 TOTAL SHAREHOLDERS’ EQUITY 2,939.1 (31.6 ) 2,907.5 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 10,547.6 (31.6 ) 10,516.0 01.01.2020 ASSETS Published Adjustment Recasted CURRENT Inventories 1,304.4 (31.6 ) 1,272.8 Other assets 9,268.1 — 9,268.1 TOTAL ASSETS 10,572.5 (31.6 ) 10,540.9 TOTAL LIABILITIES 6,957.9 — 6,957.9 SHAREHOLDERS’ EQUITY Capital 1,551.6 — 1,551.6 Treasury shares (26.5 ) — (26.5 ) Revenue reserves 2,110.0 — 2,110.0 Share-based remuneration 37.4 — 37.4 Accumulated other comprehensive loss (154.8 ) — (154.8 ) Retained earning — (31.6 ) (31.6 ) Non-controlling 96.9 — 96.9 TOTAL SHAREHOLDERS’ EQUITY 3,614.6 (31.6 ) 3,583.0 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 10,572.5 (31.6 ) 10,540.9 |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Cash and Cash Equivalents | 12.31.2021 12.31.2020 Cash and banks 978.0 1,117.7 978.0 1,117.7 Cash equivalents Bank deposit certificate (i) 75.2 78.8 Fixed deposits (ii) 765.1 686.6 840.3 765.4 1,818.3 1,883.1 (i) Applications in Bank Deposit Certificates (CDB’s), issued by financial institutions in Brazil, available for redemption in up to 90 days. (ii) Fixed term deposits in US Dollars with original maturities of 90 days or less. |
Financial investments (Tables)
Financial investments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Financial Instruments | 12.31.2021 12.31.2020 Amortized Fair value through Fair value Total Amortized cost Fair value through Fair value Total Financial instruments Public securities 51.6 — — 51.6 51.8 — — 51.8 Structured Notes (i) 14.1 — 79.0 93.1 — — 241.1 241.1 Investment funds — — 22.1 22.1 — — 7.4 7.4 Fixed-Term Deposits (ii) 13.7 541.0 — 554.7 — 513.0 — 513.0 Others (iii) — — 94.9 94.9 — — 55.9 55.9 79.4 541.0 196.0 816.4 51.8 513.0 304.4 869.2 Current portion 13.8 541.0 196.0 750.8 0.1 513.0 304.4 817.5 Non-current 65.6 — — 65.6 51.7 — — 51.7 (i) Structured notes, the Company maintains financial investments in structured notes associated with the credit risk of financial institution issuer and the Brazilian government, in the amount of US$ 79.0 as of December 31, 2021 (US$ 195.2 as of December 31, 2020). As of December 31, 2020, the Company also maintained structured notes associated with the credit risk of two financial institutions concurrently in the amount of US$ 30.1, and structured notes associated with its own credit risk in the amount of US$ 15.7. (ii) Fixed term deposits in US Dollars issued by financial institutions, with original maturities of 90 days or higher from the date of hiring. (iii) It mainly relates to shares of the Republic Airways Holdings, arising from the request for the judicial reorganization of the former entity Republic Airways and received by the Company as part of the restructuring plan. Changes in the fair value of this financial investment is presented in Note 27. |
Trade accounts receivable, net
Trade accounts receivable, net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Trade Accounts Receivable, Net | 12.31.2021 12.31.2020 Foreign customers 181.6 214.5 Brazilian Air Force 10.7 7.4 Domestic customers 27.4 40.0 219.7 261.9 Allowance for doubtful accounts (30.7 ) (58.5 ) 189.0 203.4 |
Summary of Past Due Accounts Receivable | The amounts and maturities of these trade accounts receivable are shown below: 12.31.2021 12.31.2020 Current 193.8 190.9 Up to 90 days 16.4 20.9 From 91 to 180 days 2.0 8.4 More than 180 days 7.5 41.7 219.7 261.9 |
Summary of Changes in Estimated Losses on Settlement | The following schedule presents the changes in the expected credit losses provision during the year: 12.31.2021 12.31.2020 12.31.2019 Beginning balance (58.5 ) (11.1 ) (45.0 ) Additions/Reversal (1.8 ) (57.1 ) (4.4 ) Write-off 29.4 15.0 7.5 Reclassification* — 29.6 — Foreign exchange variation 0.2 (4.9 ) 0.8 Assets held for sale — (30.0 ) 30.0 Ending balance (30.7 ) (58.5 ) (11.1 ) * Reclassification refers to transfer of expected credit losses provision recognized over trade accounts receivable overdue balances that were renegotiated with certain customers during 2020 and reclassified to the customer and commercial financing account in the consolidated statements of financial position. |
Derivative financial instrume_2
Derivative financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Derivative Financial Instruments | Purpose Risk Instrument Notional Settlement date 12.31.2021 12.31.2020 Cash flow hedge designated as hedge accounting (1.1 ) 7.1 Payroll expenses settled in Brazilian Reais Exchange rate Zero-cost collar derivative — 2021 — 7.1 Zero-cost collar derivative financial instruments, with purchase of put options at the exercise price of R$ 5.20 and sale of call options at the weighted average exercise price of R$ 6.52. 120.3 2022 (1.1 ) — Fair value hedge designated as hedge accounting 0.1 2.1 Project development Interest rate Interest swap to exchange fixed interest rate debt in Brazilian Reais for a floating rate CDI. 13.9 2023 0.1 0.8 Export Financing Interest rate Interest swap to exchange floating interest debt in US Dollars for a fixed interest rate. — 2023 — (0.1 ) Export Financing Exchange rate Interest rate and cross-currency swap — 2021 — 1.4 Others derivatives not designated as hedge accounting (4.8 ) (9.5 ) Acquisition of property, plant and equipment Interest rate Interest swap to exchange floating interest debt in US Dollars for a fixed interest rate. 1.8 2024 (0.1 ) (0.1 ) Export Exchange rate Non-Deliverable — 2021 — 0.3 Export Interest rate Interest swap to exchange floating interest debt in US Dollars for a fixed interest rate. 100.0 2027 (4.7 ) (9.7 ) (5.8 ) (0.3 ) |
Summary of Fair Value of Derivative Financial Instruments | On December 31, 2021 and 2020, the fair value of derivative financial instruments was recognized in the Company’s assets and liabilities as follows: 12.31.2021 12.31.2020 Assets Current portion 0.1 8.3 Non-current — 1.3 Liabilities Current portion (2.9 ) (1.2 ) Non-current (3.0 ) (8.7 ) Net derivative financial instruments (5.8 ) (0.3 ) |
Customer and commercial finan_2
Customer and commercial financing (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of customer and commercial financing maturities | 12.31.2021 12.31.2020 Aircraft (i) 7.9 9.2 Spare parts (ii) 29.8 39.8 37.7 49.0 Expected credit losses (5.7 ) (19.1 ) 32.0 29.9 Current portion 9.6 8.5 Non-current 22.4 21.4 |
Summary of Changes in Expected Credit Loss Customer and Commercial Financing | The changes in ECL provision during the periods is presented below: 12.31.2021 12.31.2020 Beginning balance (19.1 ) — (Additions)/Reversal 13.4 8.1 Reclassifications — (27.2 ) Ending balance (5.7 ) (19.1 ) |
Summary of Longterm Customer Financing Maturities | As of December 31, 2021, the maturity schedules of the long-term customer financing are: Year 2023 17.7 2024 1.5 2025 1.6 Thereafter 2025 1.6 22.4 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Inventories | 12.31.2021 12.31.2020 Raw materials 822.7 1,040.3 Work in process 524.7 631.1 Spare parts 474.3 576.0 Finished goods (i) 54.2 137.4 Held by third parties 79.3 61.4 Advances to suppliers 30.8 47.8 Inventory in transit 80.0 71.8 Consumption materials 43.5 52.1 Used aircraft (ii) 28.4 34.7 Loss on adjustment to market value (iii) (1.0 ) (4.4 ) Loss due to obsolescence (iv) (150.9 ) (210.3 ) 1,986.0 2,437.9 |
Summary of Provision Recorded for Adjustment to Realizable Value | (iii) Changes in the provision for adjustments to the realizable value of work in process, finished goods and used aircraft were as follows: 12.31.2021 12.31.2020 12.31.2019 Beginning balance (4.4 ) (0.9 ) (7.7 ) Additions (13.9 ) (17.3 ) (5.2 ) Disposals 17.3 14.6 11.2 Assets held for sale — (0.8 ) 0.8 Ending balance (1.0 ) (4.4 ) (0.9 ) |
Schedule of Inventories Provision for Obsolescence | (iv) Changes in the provision for obsolescence were as follows: 12.31.2021 12.31.2020 12.31.2019 Beginning balance (210.3 ) (95.6 ) (170.7 ) Additions (45.6 ) (42.2 ) (50.3 ) Disposals* 84.0 23.9 29.8 Reversals 17.3 1.7 — Foreign exchange loss 1.6 (3.4 ) 0.9 Assets held for sale 2.1 (94.7 ) 94.7 Ending balance (150.9 ) (210.3 ) (95.6 ) * Disposals relates to obsolete materials and parts sold by the Company during the year. |
Other assets (Tables)
Other assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Assets | 12.31.2021 12.31.2020 Taxes recoverable (i) 105.0 105.6 Other debtors (ii) 73.7 72.8 Prepaid expenses 36.2 36.5 Court-mandated escrow deposits (iii) 24.9 26.8 Loan with a joint operation 25.7 25.2 Advances to employees 19.6 4.9 Advances for services to be rendered 13.7 5.2 Collateralized accounts receivable 9.9 13.9 Others 10.6 10.7 319.3 301.6 Current portion 193.7 180.9 Non-current 125.6 120.7 (i) Taxes recoverable 12.31.2021 12.31.2020 ICMS (State Value-added Tax) and IPI (Excise Tax) 65.7 69.3 PIS (Social Integration Program) and COFINS 27.6 19.7 Income tax and social security on net income 5.6 7.5 ISS (Service tax) 4.4 4.6 Others 1.7 4.5 105.0 105.6 Current portion 37.4 50.0 Non-current 67.6 55.6 (ii) Corresponds mainly to rework done on materials and parts received from suppliers, which will be reimbursed in cash by the supplier or through credits granted that can be used to offset trade accounts payable when requested by the Company and approved by the supplier. (iii) Refers to deposits arising from lawsuits, substantially to federal taxes and contributions, in which there is a liability recorded Note 26. |
Interest in entities (Tables)
Interest in entities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Subsidiaries with Participation of Non-Controlling Shareholders | Non-controlling 12.31.2021 Entity Country Participation Non-controlling interest Comprehensive OGMA - Indústria Aeronáutica de Portugal S.A. Portugal 65.0 % 35.0 % 54.0 (4.2 ) Visiona Tecnologia Espacial S.A. Brazil 51.0 % 49.0 % 15.8 (2.4 ) Embraer CAE Training Services United States of America 51.0 % 49.0 % 27.3 8.9 Tempest Serviços de Informática S.A. Brazil 61.0 % 39.0 % 10.0 (1.1 ) 107.1 12.31.2020 Entity Country Participation Non-controlling interest Comprehensive income OGMA - Indústria Aeronáutica de Portugal S.A. Portugal 65.0 % 35.0 % 60.5 3.9 Embraer CAE Training Services Ltd. United Kingdon 51.0 % 49.0 % — — Visiona Tecnologia Espacial S.A. Brazil 51.0 % 49.0 % 17.3 (1.7 ) Embraer CAE Training Services United States of America 51.0 % 49.0 % 22.9 6.0 Tempest Serviços de Informática S.A. Brazil 61.0 % 39.0 % 11.9 0.3 112.6 12.31.2019 Entity Country Participation Non-controlling interest Comprehensive OGMA - Indústria Aeronática de Portugal S.A. Portugal 65.0 % 35.0 % 53.9 3.0 Embraer CAE Training Services Ltd. United Kingdom 51.0 % 49.0 % — — Visiona Tecnologia Espacial S.A. Brazil 51.0 % 49.0 % 20.0 (0.5 ) Embraer CAE Training Services United States of America 51.0 % 49.0 % 23.0 10.2 96.9 |
Summary of Financial Position of the Group Entities that have Non-Controlling Interest | The financial position of the most significant entity with non-controlling 12.31.2021 12.31.2020 Cash and cash equivalents 38.8 67.8 Current assets 194.1 217.9 Non-current 65.4 64.4 Current liabilities 99.4 109.1 Non-current 5.9 0.4 Noncontrolling interest 54.0 60.5 12.31.2021 12.31.2020 12.31.2019 Revenue 244.7 287.1 277.5 Net income for the year (4.2 ) 3.9 3.0 |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Balances and Transactions With Related Parties | 14.3 December 31, 2021 12.31.2021 Current Non-current Financial Operating Assets Liabilities Assets Liabilities Results Results Banco do Brasil S.A. 50.6 — — — (1.8 ) — Banco Nacional de Desenvolvimento Econômico e Social - — 1.4 — 300.5 (6.2 ) — Brazilian Air Force 410.3 153.2 — — — (42.0 ) Brazilian Army 2.4 1.6 — — — 3.3 Embraer Prev - Sociedade de Previdência Complementar — 4.2 — — — (12.0 ) Ez Air Interior Limited 4.8 4.8 20.9 20.9 — — Financiadora de Estudo e Projetos - — 8.2 — 5.9 (0.7 ) — FIP Aeroespacial — — — 7.2 — — Marinha do Brasil 0.4 2.6 — — — (2.0 ) 468.5 176.0 20.9 334.5 (8.7 ) (52.7 ) 14.4 December 31, 2020 12.31.2020 Current Non-current Financial Operating Assets Liabilities Assets Liabilities Results Results Banco do Brasil S.A. 45.2 0.4 — 50.3 (1.3 ) — Banco Nacional de Desenvolvimento Econômico e Social - — 1.2 — 300.6 (2.4 ) — Brazilian Air Force 372.3 190.2 — — — (34.0 ) Brazilian Army 1.7 9.0 — — — 1.5 Embraer Prev - Sociedade de Previdência Complementar — 4.5 — — — (12.0 ) Ez Air Interior Limited 5.1 5.1 20.1 20.1 — — Financiadora de Estudo e Projetos - FINEP — 8.8 — 14.7 (0.1 ) — Marinha do Brasil 1.8 10.3 — — — (3.2 ) 426.1 229.5 20.1 385.7 (3.8 ) (47.7 ) 14.5 December 31, 2019 12.31.2019 Financial Results Operating Results Banco do Brasil S.A. 1.1 — Banco Nacional de Desenvolvimento Econômico e Social - (5.1 ) — Brazilian Air Force — (35.9 ) Marinha do Brasil — (2.9 ) Embraer Prev - Sociedade de Previdência Complementar — (19.7 ) Brazilian Army — 6.8 Financiadora de Estudo e Projetos - (1.7 ) — (5.7 ) (51.7 ) |
Summary of Remuneration of Key Management Personnel | 12.31.2021 12.31.2020 12.31.2019 Short-term benefits (i) 6.1 5.8 9.0 Share based payment (ii) 2.4 (1.7 ) 3.2 Labor contract termination — 0.5 1.2 Total remuneration 8.5 4.6 13.4 (i) Includes wages, salaries, profit sharing, bonuses and indemnities distributed to the key management personnel, which are settled in Brazilian Real, as well as the compensation of external members engaged in the statutory advisory committees. (ii) Accounts payable were reduced in 2020 and increased in 2021 due to the Company’s shares price changes in these periods end, which is applied to measure the share-based payment plan settled in cash, as disclosed in Note 29. |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Disclosure of Detailed Information about Useful Lives for the Depreciation of Fixed Assets | The Company applied the following useful lives for the depreciation of fixed assets: Class of assets Estimated life Buildings and improvements 30 60 Installations 10 Machinery and equipment 10 Furniture and fixtures 5 Vehicles 10 Aircraft 4 Computers and peripherals 2 Tooling 5 Exchange pool program assets 8 |
Summary of Property Plant and Equipment | 12.31.2021 Land Buildings and Installations Machinery and Furniture Vehicles Aircraft Computers Tooling Other Exchange pool assets Construction in progress Total Cost At December 31, 2020 11.0 716.9 93.6 881.0 49.0 12.3 23.7 121.1 655.6 18.4 737.5 65.4 3,385.5 Additions — 0.6 — 13.1 0.6 0.3 — 0.9 5.2 0.1 62.4 18.5 101.7 Disposals — (14.9 ) — (14.2 ) (2.7 ) (0.4 ) — (3.2 ) (0.4 ) — (35.9 ) — (71.7 ) Impairment — — — 12.4 — — — — 1.4 — — — 13.8 Reclassifications* — 21.2 0.5 6.0 0.5 0.1 — 0.7 10.4 — (23.2 ) (39.3 ) (23.1 ) Translation adjustments — (2.6 ) (0.6 ) (7.8 ) (0.4 ) (0.3 ) — (1.1 ) — — (28.3 ) (0.8 ) (41.9 ) Assets held for sale (0.8 ) (64.3 ) (5.1 ) (162.7 ) (0.5 ) — — (2.0 ) — — — (8.6 ) (244.0 ) At December 31, 2021 10.2 656.9 88.4 727.8 46.5 12.0 23.7 116.4 672.2 18.5 712.5 35.2 3,120.3 Accumulated depreciation At December 31, 2020 — (180.1 ) (33.8 ) (422.2 ) (25.8 ) (9.5 ) (22.4 ) (107.7 ) (397.8 ) (18.4 ) (211.8 ) — (1,429.5 ) Depreciation — (20.9 ) (2.5 ) (30.7 ) (7.3 ) (0.7 ) (0.5 ) (5.7 ) (18.6 ) (0.1 ) (21.0 ) — (108.0 ) Disposals — 5.1 — 13.9 2.6 0.4 — 3.0 0.2 — 11.8 — 37.0 Reclassifications* — — — — — — — — — — 1.1 — 1.1 Interest on capitalized assets — (1.1 ) — — — — — — — — — — (1.1 ) Impairment — — — (2.3 ) — — — — (0.3 ) — — — (2.6 ) Translation adjustments — 1.0 0.2 6.3 0.3 0.3 — 0.9 — — 4.4 — 13.4 Assets held for sale — 12.8 1.3 41.0 0.1 — — 1.8 — — — — 57.0 At December 31, 2021 — (183.2 ) (34.8 ) (394.0 ) (30.1 ) (9.5 ) (22.9 ) (107.7 ) (416.5 ) (18.5 ) (215.5 ) — (1,432.7 ) Net At December 31, 2020 11.0 536.8 59.8 458.8 23.2 2.8 1.3 13.4 257.8 — 525.7 65.4 1,956.0 At December 31, 2021 10.2 473.7 53.6 333.8 16.4 2.5 0.8 8.7 255.7 — 497.0 35.2 1,687.6 12.31.2020 Land Buildings and Installations Machinery and equipment Furniture fixtures Vehicles Aircraft Computers Tooling Other Exchange pool assets Construction in progress Total Cost At December 31, 2019 5.1 459.2 60.1 481.8 38.1 10.4 14.7 101.5 443.8 25.5 321.0 48.2 2,009.4 Additions — 1.3 — 14.2 0.5 0.2 — 1.4 11.4 — 51.2 22.1 102.3 Additions - business combination — 0.8 — 0.1 0.2 — — 0.9 — — — — 2.0 Disposals (0.4 ) (8.5 ) (0.1 ) (8.4 ) (1.0 ) (0.4 ) — (4.0 ) (1.6 ) (0.1 ) (16.9 ) (1.6 ) (43.0 ) Impairment — — — 1.6 — — (0.8 ) — 0.5 — — — 1.3 Reclassifications* — 26.6 3.2 15.2 — — (38.4 ) — 37.0 (10.8 ) (18.2 ) (71.4 ) (56.8 ) Translation adjustments — 1.0 0.6 8.5 0.1 0.3 — — — — 25.6 0.4 36.5 Assets held for sale 6.3 236.5 29.8 368.0 11.1 1.8 48.2 21.3 164.5 3.8 374.8 67.7 1,333.8 At December 31, 2020 11.0 716.9 93.6 881.0 49.0 12.3 23.7 121.1 655.6 18.4 737.5 65.4 3,385.5 Accumulated depreciation At December 31, 2019 — (131.6 ) (25.6 ) (301.5 ) (21.5 ) (8.5 ) (4.1 ) (88.7 ) (352.6 ) (18.4 ) (88.0 ) — (1,040.5 ) Depreciation — (28.7 ) (4.1 ) (50.9 ) (2.8 ) (0.9 ) (1.5 ) (11.2 ) (37.0 ) — (15.2 ) — (152.3 ) Depreciation - business combination — (0.2 ) — (0.1 ) (0.1 ) — — (0.4 ) — — — — (0.8 ) Disposals — 1.9 0.1 7.1 0.7 0.4 — 1.1 0.6 — 6.1 — 18.0 Reclassifications* — — — — — — 2.2 — — — (1.8 ) — 0.4 Interest on capitalized assets — (1.1 ) — — — — — — — — — — (1.1 ) Translation adjustments — 0.1 (0.1 ) (6.2 ) (0.1 ) (0.3 ) — (0.1 ) — — (2.4 ) — (9.1 ) Assets held for sale — (20.5 ) (4.1 ) (70.6 ) (2.0 ) (0.2 ) (19.0 ) (8.4 ) (8.8 ) — (110.5 ) — (244.1 ) At December 31, 2020 — (180.1 ) (33.8 ) (422.2 ) (25.8 ) (9.5 ) (22.4 ) (107.7 ) (397.8 ) (18.4 ) (211.8 ) — (1,429.5 ) Net At December 31, 2019 5.1 327.6 34.5 180.3 16.6 1.9 10.6 12.8 91.2 7.1 233.0 48.2 968.9 At December 31, 2020 11.0 536.8 59.8 458.8 23.2 2.8 1.3 13.4 257.8 — 525.7 65.4 1,956.0 12.31.2019 Land Buildings and Installations Machinery and Furniture Vehicles Aircraft Computers Tooling Other Exchange pool assets Construction Total Cost At December 31, 2018 11.0 750.1 162.4 972.4 74.2 17.3 76.2 190.0 629.1 27.6 650.8 93.7 3,654.8 Additions 0.4 5.3 — 43.6 5.6 0.6 31.7 5.0 28.2 10.3 91.8 62.0 284.5 Disposals — (8.3 ) (3.7 ) (60.2 ) (22.4 ) (3.0 ) — (45.4 ) (26.1 ) (1.0 ) (19.0 ) (0.8 ) (189.9 ) Impairment — — — (14.1 ) — — (4.6 ) — (1.8 ) — — — (20.5 ) Reclassifications* — 30.3 6.3 11.3 (1.4 ) 0.1 (40.4 ) (6.6 ) 7.0 (7.6 ) (21.8 ) (39.3 ) (62.1 ) Translation adjustments — (0.6 ) (0.1 ) (1.9 ) (0.1 ) (0.1 ) — (0.2 ) — — (6.1 ) 0.3 (8.8 ) Assets held for sale (6.3 ) (317.6 ) (104.8 ) (469.3 ) (17.8 ) (4.5 ) (48.2 ) (41.3 ) (192.6 ) (3.8 ) (374.7 ) (67.7 ) (1,648.6 ) At December 31, 2019 5.1 459.2 60.1 481.8 38.1 10.4 14.7 101.5 443.8 25.5 321.0 48.2 2,009.4 Accumulated depreciation At December 31, 2018 — (219.4 ) (105.6 ) (518.1 ) (44.6 ) (13.8 ) (38.7 ) (154.5 ) (371.5 ) (11.4 ) (212.5 ) — (1,690.1 ) Depreciation — (15.2 ) (3.7 ) (32.9 ) (4.6 ) (1.0 ) (1.3 ) (7.0 ) (25.2 ) — (12.5 ) — (103.4 ) Disposals — 7.4 4.8 67.7 19.1 3.3 — 42.5 7.3 0.3 9.5 — 161.9 Reclassifications* — (2.9 ) 2.8 5.6 — — 16.9 1.7 — (7.3 ) 11.8 — 28.6 Interest on capitalized assets — (1.6 ) — — — — — — — — — — (1.6 ) Translation adjustments — (1.5 ) — 1.4 (0.1 ) 0.1 — 0.2 (0.1 ) — 5.2 — 5.2 Assets held for sale — 101.6 76.1 174.8 8.7 2.9 19.0 28.4 36.9 — 110.5 — 558.9 At December 31, 2019 — (131.6 ) (25.6 ) (301.5 ) (21.5 ) (8.5 ) (4.1 ) (88.7 ) (352.6 ) (18.4 ) (88.0 ) — (1,040.5 ) Net At December 31, 2018 11.0 530.7 56.8 454.3 29.6 3.5 37.5 35.5 257.6 16.2 438.3 93.7 1,964.7 At December 31, 2019 5.1 327.6 34.5 180.3 16.6 1.9 10.6 12.8 91.2 7.1 233.0 48.2 968.9 * Non-cash |
Assets held for sale (Tables)
Assets held for sale (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of assets and liabilities held for sale | ASSETS HELD FOR SALE Note 12.31.2021 LIABILITIES HELD FOR SALE 12.31.2021 Cash and cash equivalents 20.3 Trade accounts payable 13.7 Trade accounts receivable, net 0.9 Other payables 2.5 Inventories 59.0 Taxes and payroll charges payable 0.4 Income tax and social contribution 0.5 Unearned income 28.5 Other assets 6.3 TOTAL 45.1 Guarantee deposits 0.2 Deferred income tax and social contribution 24 1.7 Property, plant and equipment, net* 15 141.9 Intangible assets 17 0.1 Net assets to be disposed 185.8 TOTAL 230.9 TOTAL 230.9 * Property, plant and equipment included in the assets held for sale (US$ 187.0) is presented net of impairment losses in the amount of US$ 45.1 measured based on the fair value less cost to sell. |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Intangible Assets Internally Developed and Acquired From Third Party | 12.31.2021 Internally developed Acquired from third party Commercial Executive Defense and Others Development Software Goodwill Others Total Intangible cost At December 31, 2020 1,126.0 1,339.8 52.0 4.6 10.7 308.1 21.7 136.7 2,999.6 Additions 108.2 16.6 3.8 — 1.6 6.3 — 30.0 166.5 Disposals — — — — — (1.1 ) — — (1.1 ) Impairment — 49.0 — — — — — 4.1 53.1 Interest on capitalized assets — 0.4 — — — — — — 0.4 Translation adjustments — — — — (0.5 ) (1.9 ) (0.3 ) (1.2 ) (3.9 ) Assets held for sale — — — — — (0.8 ) — — (0.8 ) At December 31, 2021 1,234.2 1,405.8 55.8 4.6 11.8 310.6 21.4 169.6 3,213.8 Accumulated amortization At December 31, 2020 (60.5 ) (589.0 ) (43.5 ) (1.5 ) (3.6 ) (212.4 ) — (13.5 ) (924.0 ) Amortization (19.6 ) (34.9 ) (0.4 ) (0.3 ) — (25.1 ) — (6.3 ) (86.6 ) Amortization of contribution from — 10.1 — — — — — — 10.1 Disposals — — — — — 1.0 — — 1.0 Impairment — (2.3 ) — — — — — — (2.3 ) Interest on capitalized assets — (1.3 ) — — — — — — (1.3 ) Translation adjustments — — — — — 1.6 — 0.4 2.0 Assets held for sale — — — — — 0.7 — — 0.7 At December 31, 2021 (80.1 ) (617.4 ) (43.9 ) (1.8 ) (3.6 ) (234.2 ) — (19.4 ) (1,000.4 ) Intangible, net At December 31, 2020 1,065.5 750.8 8.5 3.1 7.1 95.7 21.7 123.2 2,075.6 At December 31, 2021 1,154.1 788.4 11.9 2.8 8.2 76.4 21.4 150.2 2,213.4 12.31.2020 Internally developed Acquired from third party Commercial Executive Defense Security Others Development Software Goodwill Others Total Intangible cost At December 31, 2019 — 1,292.3 49.3 3.6 9.4 213.7 10.0 75.0 1,653.3 Additions 63.3 13.5 2.7 1.0 1.8 3.1 — 36.0 121.4 Additions - business combination — — — — — 9.4 13.8 7.8 31.0 Disposals — — — — (0.6 ) (1.9 ) — — (2.5 ) Impairment — 6.6 — — — — — (9.5 ) (2.9 ) Interest on capitalized assets — 0.9 — — — — — — 0.9 Translation adjustments — — — — 0.1 1.6 (2.1 ) (1.8 ) (2.2 ) Assets held for sale 1,062.7 26.5 — — — 82.2 — 29.2 1,200.6 At December 31, 2020 1,126.0 1,339.8 52.0 4.6 10.7 308.1 21.7 136.7 2,999.6 Accumulated amortization At December 31, 2019 — (550.1 ) (32.8 ) (1.3 ) (3.7 ) (165.6 ) — (5.7 ) (759.2 ) Amortization (46.6 ) (28.3 ) (10.7 ) (0.2 ) — (38.1 ) — (4.6 ) (128.5 ) Amortization - business combination — — — — — — — (1.2 ) (1.2 ) Amortization of contribution from supplier — 8.3 — — — — — — 8.3 Disposals — — — — 0.1 1.6 — — 1.7 Interest on capitalized assets — (1.1 ) — — — — — — (1.1 ) Translation adjustments — — — — — (1.5 ) — 0.6 (0.9 ) Assets held for sale (13.9 ) (17.8 ) — — — (8.8 ) — (2.6 ) (43.1 ) At December 31, 2020 (60.5 ) (589.0 ) (43.5 ) (1.5 ) (3.6 ) (212.4 ) — (13.5 ) (924.0 ) Intangible, net At December 31, 2019 — 742.2 16.5 2.3 5.7 48.1 10.0 69.3 894.1 At December 31, 2020 1,065.5 750.8 8.5 3.1 7.1 95.7 21.7 123.2 2,075.6 12.31.2019 Internally developed Acquired from third party Commercial Executive Defense Others Development Software Goodwill Others Total At December 31, 2018 1,916.3 1,341.2 43.4 3.5 6.3 350.3 10.4 68.8 3,740.2 Additions 188.2 31.3 5.9 0.1 3.1 19.3 — 35.4 283.3 Contributions from suppliers (4.5 ) — — — — — — — (4.5 ) Disposals — — — — — (2.0 ) — — (2.0 ) Impairment — (55.6 ) — — — — — — (55.6 ) Interest on capitalized assets 4.9 1.9 — — — — — — 6.8 Translation adjustments — — — — — — (0.4 ) — (0.4 ) Assets held for sale (2,104.9 ) (26.5 ) — — — (153.9 ) — (29.2 ) (2,314.5 ) At December 31, 2019 — 1,292.3 49.3 3.6 9.4 213.7 10.0 75.0 1,653.3 Accumulated amortization At December 31, 2018 (1,053.6 ) (512.2 ) (32.4 ) (1.2 ) (2.9 ) (232.8 ) — (6.3 ) (1,841.4 ) Amortization (3.1 ) (75.1 ) (0.4 ) (0.1 ) (0.8 ) (14.4 ) — (2.0 ) (95.9 ) Amortization of contribution from supplier 1.0 21.4 — — — — — — 22.4 Disposals — — — — — 1.2 — — 1.2 Interest on capitalized assets — (2.4 ) — — — — — — (2.4 ) Assets held for sale 1,055.7 18.2 — — — 80.4 — 2.6 1,156.9 At December 31, 2019 — (550.1 ) (32.8 ) (1.3 ) (3.7 ) (165.6 ) — (5.7 ) (759.2 ) Intangible, net At December 31, 2018 862.7 829.0 11.0 2.3 3.4 117.5 10.4 62.5 1,898.8 At December 31, 2019 — 742.2 16.5 2.3 5.7 48.1 10.0 69.3 894.1 |
Impairment of assets (Tables)
Impairment of assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Statement [Line Items] | |
Disclosure of impairment loss and reversal of impairment loss | The following chart presents the changes on impairment losses through the year: 12.31.2020 Additions Reversal Amortization 12.31.2021 Cash-generating units Mid-Size Mid-Size 60.4 — (57.9 ) (2.5 ) — Satellites 3 .8 1.6 — — 5.4 64.2 1.6 (57.9 ) (2.5 ) 5.4 Allocation of impairment losses Fixed assets - Machinery and equipment 11.3 — Fixed assets - Tooling 1.5 — Intangibles - Internally developed 51.4 5.4 64.2 5.4 Operating segments (Note 38) Executive Aviation 60.4 — Defense & Security 3.8 5.4 64.2 5.4 |
Mid-Size / Super Mid-Size Platform [member] | |
Statement [Line Items] | |
Disclosure Of Detailed Information About Sensitivity Analysis Of Impairment Test | Mid-Size Mid-Size Key assumption Factor Sensitivity Impact in impairment test Estimated aircraft deliveries during the useful life of platform up to 2050 and keeping current market share — 5 % Negative changes of 5% in the estimated volume of deliveries would cause reduction in the CGU headroom from US$ 107 to US$ 27 Discount rate 10.7 % 100 Increase of 100bps in the discount rate would cause reduction in the CGU headroom from US$ 107 to US$ 39 Foreign exchange rate (US$/R$) – rate applied to translate cash flows generated in foreign currency (R$) to the functional currency (US$) R$ 5.5805 10 % Reduction of 10% in foreign exchange rate (US$/R$) would cause reduction in the CGU headroom from US$ 107 to US$ 59 |
KC390 Millennium Platform [Member] | |
Statement [Line Items] | |
Disclosure Of Detailed Information About Sensitivity Analysis Of Impairment Test | KC-390 Key assumption Factor Sensitivity Impact in impairment test Estimated aircraft deliveries during the useful life of platform up to 2041 and keeping current market share — 5 % Negative changes of 5% in the estimated volume of deliveries would cause reduction in the CGU headroom from US$ 260 to US$ 231 Discount rate 10.7 % 100 Increase of 100bps in the discount rate would cause reduction in the CGU headroom from US$ 260 to US$ 240 Foreign exchange rate (US$/R$) – rate applied to translate cash flows generated in foreign currency (R$) to the functional currency (US$) R$ 5.5805 10 % Reduction of 10% in foreign exchange rate (US$/R$) would cause reduction in the CGU headroom from US$ 260 to US$ 241 |
E2 Platform [Member] | |
Statement [Line Items] | |
Disclosure Of Detailed Information About Sensitivity Analysis Of Impairment Test | Key assumption Factor Sensitivity Impact in impairment test Estimated aircraft deliveries during the useful life of platform up to 2045 and keeping current market share — 5% Negative changes of 5% in the estimated volume of deliveries would cause impairment losses of US$ 10 Discount rate 10.7% 100 Increase of 100bps in the discount rate would cause impairment losses of US$ 114 Foreign exchange rate (US$/R$) – rate R$ 5.5805 10% Reduction of 10% in foreign exchange rate (US$/R$) would cause impairment losses of US$ 179 |
Trade accounts payable (Tables)
Trade accounts payable (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Trade Accounts Payable | 12.31.2021 12.31.2020 Foreign suppliers 259.0 318.3 Domestic suppliers 99.0 82.7 Risk partners (i) 137.2 101.3 495.2 502.3 (i) The Company’s risk-sharing suppliers/partners develop and produce significant aircraft components, including engines, hydraulic components, avionics, wings, tail sections, interior components, and fuselage parts. Certain contracts between the Company and these risk-sharing suppliers/partners are long-term and include deferral of payments for components and systems for a negotiated term after delivery. Once the risk-sharing suppliers/partners have been selected and the aircraft development and production program has commenced, changing suppliers is more challenging. For example, in the case of engines, the aircraft is specially designed to accommodate a given component, which cannot be easily replaced by another supplier without incurring delays and significant additional expense. This dependence makes the Company vulnerable to the performance, quality and financial position of its risk-sharing suppliers/partners. |
Loans and financing (Tables)
Loans and financing (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about loans and financing [line items] | |
Summary of Loans and Financing | Contractual Effective Currency interest rate - % interest rate - % Maturity 12.31.2021 12.31.2020 Other currencies: Guaranteed Notes US$ 5.05% to p.a. 5.05% to p.a. 2028 (i) 3,283.5 3,289.0 2.41% to p.a. 2.43% to p.a. 2030 197.1 225.2 Working capital Libor 1M + 1.30% p.a. Libor 1M + 1.30% p.a. 2023 (ii) 50.2 96.0 US$ Libor 3M + 4.50% p.a. Libor 3M + 4.50% p.a. 2021 — 94.1 0.00% 0.00% 2021 — 14.1 Libor 6M + 2.60% p.a. Libor 6M + 2.60% p.a. 2027 100.8 100.8 Euro Euribor 12 M + 1.31% p.a. to p.a. Euribor 12 M + 1.31% to p.a. 2027 26.1 22.3 Export financing US$ Libor 3 M and 6 M +1.76% p.a. Libor 3 M and 6 M 2024 (ii) 313.2 472.1 Property. plant and US$ SIFMA Libor 1M + % p.a. SIFMA Libor 1M + p.a. 2037 37.7 50.9 4,008.6 4,364.5 In local currency: Working capital CDI + 0.42% p.a. CDI + 0.42% p.a. 2021 — 0.6 R$ 7.96% a 17.32% aa 7.96% a 17.32% p.a. 2021 — 2.4 IPCA + 0.89% p.a. p.a. IPCA + 0.89% p.a. p.a. 2021 — 0.8 R$ CDI + 2.60 % p.a. CDI + 2.60% p.a. 2026 3.6 — Project development 3.5 % p.a. 3.5% p.a. 2023 14.1 24.5 R$ IPCA + 5.92 % p.a. IPCA + 5.92% p.a. 2027 0.6 0.6 Guaranteed Notes IPCA + 10.00 % p.a. IPCA + 10.00% p.a. 2021 — 2.1 Export financing CDI + 3.60 % p.a. CDI + 3.60% p.a. 2021 — 52.5 18.3 83.5 Total 4,026.9 4,448.0 Current portion 574.2 375.5 Non-current 3,452.7 4,072.5 (i) Issuance of Bonds: Between August and September 2013, through its subsidiary Embraer Overseas Limited, Embraer made an offer to exchange existing bonds maturing in 2017 (settled in January 2017) and 2020 for “New Notes” maturing in 2023. In the case of bonds maturing in 2017, the exchange offer resulted in US$ 146.4 of the aggregate principal of existing notes and US$ 337.2 of the aggregate principal of the 2020 Notes, representing approximately 54.95% of the Notes exchanged. The total of the exchange offer, considering the effects of the exchange price on the negotiations and the total New Notes issued closed at approximately US$ 540.5 in principal at a rate of 5.696% p.a., maturing on September 16, 2023. In September On June 15, 2012, Embraer raised funds by issuing guaranteed notes, maturing on June 15, 2022, through an overseas offer of In June 2015, the Company’s wholly owned finance subsidiary Embraer Netherlands Finance B.V, which only performs financial In February 2017, Embraer Netherlands Finance B.V., Embraer subsidiary, issued an offering of US$ 750.0 with a nominal interest rate of I n September 2020, the Company’s wholly owned finance subsidiary Embraer Netherlands Finance B.V, which only performs financial (ii) In 2020, the Company finalized the terms of working capital and export financing agreements in an aggregate principal amount of up to US$ Banco Nacional de Desenvolvimento Econômico e Social |
Summary of Maturities of Long term Financing Agreements | On December 31, 2021, 2020 and 2019, the changes in loans and financing were as follows: 12.31.2021 12.31.2020 12.31.2019 Opening balance 4,448.0 91.0 3,647.6 Principal addition 60.4 2,093.1 400.5 Interest addition 200.2 197.2 186.3 Principal payment (478.2 ) (1,061.8 ) (645.9 ) Interest payment (207.4 ) (173.2 ) (188.1 ) Foreign exchange 18.0 (6.5 ) (8.2 ) Liabilities held for sale — 3,301.2 (3,301.2 ) Business Combination — 7.0 — Transfer (14.1 ) — — Total 4,026.9 4,448.0 91.0 As of December 31, 2021, the maturity schedules of the long-term financing were: Year 2023 490.9 2024 316.2 2025 1,005.1 Thereafter 2025 1,640.5 3,452.7 |
Disclosure Of Detailed Information About lease liabilities Explanatory [Table Text Block] | On December 31, 2021, 2020 and 2019, the changes in lease liabilities were as follows: 12.31.2021 12.31.2020 12.31.2019 Opening balance 64.7 38.6 57.6 Additions 14.4 27.8 18.1 Additions - business combination — 1.6 — Disposals (1.7 ) (3.8 ) (17.3 ) Interest expense 3.0 2.8 6.0 Payments (10.4 ) (9.0 ) (11.8 ) Assets and liabilities held for sale — 9.4 (9.4 ) Translation adjustments (6.2 ) (2.7 ) (4.6 ) Total 63.8 64.7 38.6 Current portion 11.5 11.4 5.0 Non-current 52.3 53.3 33.6 |
Other payables (Tables)
Other payables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Schedule of Other Payables | 12.31.2021 12.31.2020 Provisions related to payroll (i) 105.0 96.8 Other accounts payable (ii) 41.2 55.9 Provision for employee profit sharing 26.0 15.7 Mutual with jointly controlled operation 25.7 25.2 Long-term incentive (iii) 24.9 7.9 Commission payable 21.9 18.8 Non-controlling 17.1 22.2 Contractual obligations (v) 14.8 16.2 Recourse and non-recourse 9.9 13.9 Insurance 7.2 13.3 Brazilian air force 4.8 3.3 Accounts payable of acquisitions (deferred consideration) 0.4 3.0 298.9 292.2 Current portion 241.3 249.9 Non-current 57.6 42.3 (i) Refers to personnel obligations and their respective charges recorded in the financial statements. (ii) Represents a provision for expenses already incurred as of the date of the consolidated financial statements and for which payments are made during the following month. (iii) Refers to the share-based payment program granted to certain employees of the Company in the form of phantom shares as described in Note 29. (iv) As part of the acquisition of control of Tempest Serviços de Informática S.A. and its subsidiaries, which was concluded in 2020, the Company received call options and granted put options to non-controlling lock-up non-controlling non-controlling (v) Represents amounts recorded regarding contractual obligations assumed by the Company in contracts with customers mainly related to commercial concessions and costs to obtain contracts. |
Taxes and payroll charges pay_2
Taxes and payroll charges payable (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Schedule of Taxes and Payroll Charges Payable | 12.31.2021 12.31.2020 INSS (social security contribution) (i) 27.9 55.8 IRRF (withholding tax) 8.1 7.4 PIS and COFINS (ii) 4.0 8.0 IPI (manufacturing tax) 0.7 0.3 FGTS (government employee severance indemnity fund) 3.1 2.4 Others 6.6 9.8 50.4 83.7 Current portion 40.4 71.9 Non-current 10.0 11.8 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Components of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities are as follows: 12.31.2021 12.31.2020 Temporarily non-deductible 155.3 133.7 Tax loss carryforwards 7.1 0.5 Functional currency effect of the non-monetary (529.1 ) (509.3 ) Gains not realized from sales of the Company to subsidiaries 14.7 14.5 Effect of differences by fixed asset (21.4 ) 14.1 Differences between basis: account x tax (33.1 ) (23.6 ) Assets and liabilities held for sale (1.7 ) — Deferred tax assets (liabilities), net (408.2 ) (370.1 ) Total deferred tax asset 97.6 104.6 Total deferred tax liability (505.8 ) (474.7 ) (i) Temporary differences |
Changes in Deferred Income Tax | Changes in deferred income tax that affected profit or loss were as follows: From the statement of income Other comprehensive income Total At December 31, 2018 (250.2 ) 17.8 (232.4 ) Temporarily non-deductible 43.1 — 43.1 Tax loss carryforwards 1.1 — 1.1 Functional currency effect of the non-monetary 16.4 — 16.4 Provision Gain not realized at sales from Controlling company to subsidiaries 0.4 — 0.4 Effect of differences by fixed asset (23.4 ) — (23.4 ) Differences between basis: account x tax (70.8 ) (2.8 ) (73.6 ) Discontinued operation (30.7 ) 27.5 (3.2 ) At December 31, 2019 (314.1 ) 42.5 (271.6 ) Temporarily non-deductible 68.5 — 68.5 Tax loss carryforwards 0.3 — 0.3 Functional currency effect of the non-monetary (211.9 ) — (211.9 ) Gains not realized from sales of Parent Company to subsidiaries (8.6 ) — (8.6 ) Effect of differences by fixed asset 26.1 — 26.1 Differences between basis: account x tax 20.9 6.2 27.1 At December 31, 2020 (418.8 ) 48.7 (370.1 ) Temporarily non-deductible 21.6 — 21.6 Tax loss carryforwards 6.6 — 6.6 Functional currency effect of the non-monetary (19.8 ) — (19.8 ) Gains not realized from sales of Parent Company to subsidiaries 0.2 — 0.2 Effect of differences by fixed asset (35.5 ) — (35.5 ) Differences between basis: account x tax (11.5 ) 2.0 (9.5 ) Discontinued operation (1.7 ) — (1.7 ) At December 31, 2021 (458.9 ) 50.7 (408.2 ) |
Reconciliation of Income Tax Expense | 24.3 Reconciliation of income tax expense 12.31.2021 12.31.2020 12.31.2019 Loss before income tax 27.4 (635.2 ) (186.2 ) Income tax and social contribution at the nominal Brazilian enacted tax rate - (9.3 ) 216.0 63.3 Tax on profits of overseas subsidiaries (92.1 ) (21.3 ) (72.3 ) Transfer Pricing and Thin Capitalization (36.3 ) (47.7 ) — Functional currency effect of the non-monetary (60.0 ) (250.4 ) 16.4 Research and development tax incentives 1.2 1.6 23.0 Equity in the earnings of subsidiaries 0.4 0.8 — Fiscal credits (recognized and non recognized) (68.2 ) (104.6 ) (16.7 ) Tax rate difference 28.2 10.4 6.6 Other differences between accounting and fiscal basis (i) 165.2 195.6 (150.6 ) Effects of Dropdown (ii) — (93.5 ) — (61.6 ) (309.1 ) (193.6 ) Income tax and social contribution income (expense) benefit as reported (70.9 ) (93.1 ) (130.3 ) Current income tax and social contribution expense as reported (32.5 ) 11.6 (97.1 ) Deferred income tax and social contribution income (expense) benefit as reported (38.4 ) (104.7 ) (33.2 ) (i) Other differences between accounting and fiscal basis mainly refer to: permanent additions and exclusions, realization of foreign exchange gain or loss and differences between accounting basis and fiscal treatments in the income tax calculation (depreciation of fixed assets, provision for inventory losses, among others). (ii) Effects of Dropdown include tax impacts of the internal carve-out |
Financial Guarantees and Resi_2
Financial Guarantees and Residual Value Guarantees (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Schedule of Financial Guarantees and Residual Guarantees | 12.31.2021 12.31.2020 Financial guarantee of residual value — 86.2 Accounts payable (i) 18.7 33.7 Financial guarantee — 4.4 Additional provision (ii) — 0.9 18.7 125.2 Current portion 15.8 42.6 Non-current 2.9 82.6 (i) Accounts payable of residual value guarantees negotiated and settled with certain counterparties. (ii) Additional provision recorded as a result of losses incurred by the Company with claims of financial guarantees by creditors of certain customers that defaulted in 2020, which was settled by the Company during 2021, as disclosed on the changes schedule below. |
Activity on Financial Guarantees and Residual Guarantees | Changes on the financial guarantees and residual value Financial Financial Accounts Additional provision Total At December 31, 2018 11.6 125.4 15.1 — 152.1 Interest Additions — — 0.6 — 0.6 Cash settlements — — (15.7 ) — (15.7 ) Market value — 4.2 — — 4.2 Guarantee amortization (0.9 ) — — — (0.9 ) Liabilities held for sale (10.7 ) (129.6 ) — — (140.3 ) At December 31, 2019 — — — — — Interest Additions 3.2 — — 5.9 9.1 Cash settlements — — — (5.0 ) (5.0 ) Reclassifications — (33.7 ) 33.7 — — Market value — (9.7 ) — — (9.7 ) Guarantee amortization (9.5 ) — — — (9.5 ) Liabilities held for sale 10.7 129.6 — — 140.3 At December 31, 2020 4.4 86.2 33.7 0.9 125.2 Additions — — — 0.4 0.4 Cash settlements — — (49.5 ) (1.3 ) (50.8 ) Reversals (2.4 ) (50.6 ) — — (53.0 ) Reclassifications — (34.3 ) 34.3 — — Market value — (1.3 ) 0.2 — (1.1 ) Guarantee amortization (2.0 ) — — — (2.0 ) At December 31, 2021 — — 18.7 — 18.7 |
Provisions and contingent lia_2
Provisions and contingent liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Provision | 12.31.2021 12.31.2020 Product warranties (i) 77.5 73.9 Provisions for labor, taxes and civil (ii) 53.7 55.4 Taxes (iii) 36.6 34.5 Post retirement benefits 39.4 27.9 Environmental provision 0.7 1.4 Others 21.5 19.6 229.4 212.7 Current portion 108.9 98.5 Non-current 120.5 114.2 (i) Recorded to cover product-related expenditure, including warranties and contractual obligations to implement improvements to aircraft delivered in order to meet performance targets. (ii) Provisions for labor, tax or civil contingencies, as shown in the table below Note 26.1.1. (iii) Accrual of tax provisions mainly relates to indirect taxes recognized in relation to revenue recognition of long-term contracts. |
Summary of Change in Provision | Changes in provision: Product Provisions Post retirement Taxes Environment Others Total At December 31, 2018 98.0 58.4 31.7 31.4 2.4 20.5 242.4 Additions 54.2 23.8 — 63.9 2.3 — 144.2 Interest — 5.2 2.2 — — — 7.4 Used/payments (29.7 ) (7.1 ) — (54.0 ) (1.7 ) (0.4 ) (92.9 ) Reversals (43.2 ) (10.6 ) (1.8 ) — — — (55.6 ) Translation adjustments (0.2 ) (1.9 ) (0.7 ) 0.4 (0.1 ) (0.6 ) (3.1 ) Reclassification - Liabilities held for sale (12.0 ) (1.4 ) (19.7 ) — (2.6 ) (3.8 ) (39.5 ) At December 31, 2019 67.1 66.4 11.7 41.7 0.3 15.7 202.9 Additions 42.0 8.5 2.5 147.2 0.4 4.5 205.1 Interest — 5.4 3.6 — — — 9.0 Used/payments (30.4 ) (4.7 ) (2.2 ) (154.4 ) (0.6 ) — (192.3 ) Reversals (15.8 ) (8.0 ) — — (0.4 ) — (24.2 ) Translation adjustments (1.0 ) (13.6 ) (7.4 ) — (0.9 ) (4.4 ) (27.3 ) Reclassification - Liabilities held for sale 12.0 1.4 19.7 — 2.6 3.8 39.5 At December 31, 2020 73.9 55.4 27.9 34.5 1.4 19.6 212.7 Additions 43.3 6.0 11.8 37.9 0.5 1.9 101.4 Interest — 3.8 1.7 — — — 5.5 Used/payments (25.9 ) (4.8 ) (0.3 ) (32.4 ) (0.9 ) — (64.3 ) Reversals (13.6 ) (2.7 ) — — — — (16.3 ) Translation adjustments (0.2 ) (4.0 ) (1.7 ) (3.4 ) (0.3 ) — (9.6 ) At December 31, 2021 77.5 53.7 39.4 36.6 0.7 21.5 229.4 |
Summary of Labor, Tax and Civil Provisions | 26.1.1 Labor, tax and civil provisions 12.31.2021 12.31.2020 Tax related IRPJ (i) 10.5 10.8 PIS and COFINS 7.3 4.2 Social security contributions (ii) 1.7 1.8 Import taxes (iii) 0.6 0.6 Others 2.1 0.2 22.2 17.6 Labor related Plurimas 461/1379 (iv) 6.7 6.5 Reintegration (v) 6.9 5.7 Overtime (vi) 3.9 6.2 Dangerousness (vii) 2.0 1.3 Indemnity (viii) 3.8 4.9 Third parties 1.0 1.5 Others 7.0 11.5 31.3 37.6 Civil related Indemnity (ix) 0.2 0.2 0.2 0.2 53.7 55.4 Current portion 18.7 16.7 Non-current 35.0 38.7 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Financial Instruments by Category | 27.1 Financial instruments by category 12.31.2021 Note Amortized Fair value Fair value Total Assets Cash and cash equivalents 5 1,816.0 2.3 — 1,818.3 Financial investments 6 79.4 541.0 196.0 816.4 Guarantee Deposits 3.0 — — 3.0 Contract assets 31 582.3 — — 582.3 Trade accounts receivable, net 7 189.0 — — 189.0 Customer and commercial financing 9 32.0 — — 32.0 Derivative financial instruments 8 — — 0.1 0.1 Other Assets 11 50.7 — — 50.7 2,752.4 543.3 196.1 3,491.8 Liabilities Loans and financing 21 4,026.9 — — 4,026.9 Trade accounts payable and other liabilities 808.9 17.1 — 826.0 Lease Liability 63.8 — — 63.8 Financial guarantee and r e 25 18.7 — — 18.7 Derivative financial instruments 8 — — 5.9 5.9 Other liabilities 218.9 — — 218.9 5,137.2 17.1 5.9 5,160.2 12.31.2020 Note Amortized Fair value Fair value Total Assets Cash and cash equivalents 5 1,883.1 — — 1,883.1 Financial investments 6 51.8 513.0 304.4 869.2 Guarantee Deposits 1.7 — — 1.7 Collateralized accounts receivable 13.9 — — 13.9 Contract assets 31 461.8 — — 461.8 Trade accounts receivable, net 7 203.4 — — 203.4 Customer and commercial financing 9 29.9 — — 29.9 Derivative financial instruments 8 — — 9.6 9.6 Other Assets 11 52.0 — — 52.0 2,697.6 513.0 314.0 3,524.6 Liabilities Loans and financing 21 4,448.0 — — 4,448.0 Trade accounts payable and other liabilities 772.3 22.2 — 794.5 Lease liability 64.7 — — 64.7 Financial guarantee and of residual value 25 34.6 — 86.2 120.8 Derivative financial instruments 8 — — 9.9 9.9 Other liabilities 222.5 — — 222.5 5,542.1 22.2 96.1 5,660.4 |
Summary of Fair Value of Liabilities Measurement Using Significant Unobservable Inputs | The following table lists the Comp a 12.31.2021 Note Level 2 Level 3 Total Fair value Fair value Book value Assets Cash and cash equivalents 5 2.3 — 2.3 1,816.0 1,818.3 1,818.3 Financial investments 6 642.1 94.9 737.0 79.4 819.6 816.4 Guarantee Deposits — — — 3.0 3.0 3.0 Contract assets 31 — — — 582.3 582.3 582.3 Trade accounts receivable, net 7 — — — 189.0 189.0 189.0 Customer and commercial financing 9 — — — 32.0 32.0 32.0 Derivative financial instruments 8 0.1 — 0.1 — 0.1 0.1 Other Assets 11 — — — 50.7 50.7 50.7 644.5 94.9 739.4 2,752.4 3,495.0 3,491.8 Liabilities Loans and financing 21 — — — 4,026.9 4,229.8 4,026.9 Trade accounts payable and other liabilities — 17.1 17.1 808.9 826.0 826.0 Lease Liability — — — 63.8 63.8 63.8 Financial guarantee and of residual value 25 — — — 18.7 18.7 18.7 Derivative financial instruments 8 5.9 — 5.9 — 5.9 5.9 Other liabilities — — — 218.9 218.9 218.9 5.9 17.1 23.0 5,137.2 5,363.1 5,160.2 12.31.2020 Note Level 2 Level 3 Total Fair value Fair value Book value Assets Cash and cash equivalents 5 — — — 1,883.1 1,883.1 1,883.1 Financial investments 6 761.5 55.9 817.4 51.8 869.2 869.2 Guarantee Deposits — — — 1.7 1.7 1.7 Collateralized accounts receivable — — — 13.9 13.9 13.9 Contract assets 31 — — — 461.8 461.8 461.8 Trade accounts receivable, net 7 — — — 203.4 203.4 203.4 Customer and commercial financing 9 — — — 36.3 36.3 29.9 Derivative financial instruments 8 9.6 — 9.6 — 9.6 9.6 Other assets 11 — — — 52.0 52.0 52.0 771.1 55.9 827.0 2,704.0 3,531.0 3,524.6 Liabilities Loans and financing 21 — — — 4,448.0 4,319.7 4,448.0 Trade accounts payable and other liabilities — 22.2 22.2 772.3 794.5 794.5 Lease Liability — — — 64.7 64.7 64.7 Financial guarantee and of residual value 25 — 86.2 86.2 34.6 120.8 120.8 Derivative financial instruments 8 9.9 — 9.9 — 9.9 9.9 Other liabilities — — — 222.5 222.5 222.5 9.9 108.4 118.3 5,542.1 5,532.1 5,660.4 |
Summary of Company's Financial Assets and Liabilities | Fair value of financial Assets Liabilities At 12.31.2019 60.6 — Adding Shares — 22.2 Changes in fair value (4.1 ) (9.7 ) Exchange variation (0.6 ) — Reclassification — (33.7 ) Reclassification from held for sale — 129.6 At 12.31.2020 55.9 108.4 Reversal — (50.1 ) Transfer — (33.6 ) Changes in fair value 35.2 (3.9 ) Exchange variation 3.8 (3.7 ) At 12.31.2021 94.9 17.1 |
Summary of Additional Information Related to Authorization of Undiscounted Contractual Obligations and Commercial Commitments | The following table provides additional information related to undiscounted contractual obligations and commercial commitments and their respective maturities: Cash Flow Less than one One to three Three to five More than At December 31, 2021 Loans and financing 4,842.0 712.5 683.4 1,602.4 1,843.7 Trade accounts payable 495.2 495.2 — — — Trade accounts payable - Supplier finance 14.8 14.8 — — — Financial guarantees 18.7 15.8 2.9 — — Lease Liability 63.8 11.5 20.1 9.9 22.3 Other liabilities 218.8 15.8 164.5 27.8 10.7 Total 5,653.3 1,265.6 870.9 1,640.1 1,876.7 At December 31, 2020 Loans and financing 5,749.5 568.0 1,591.6 1,666.1 1,923.8 Trade accounts payable 502.3 502.3 — — — Financial guarantees 125.2 42.6 44.1 36.6 1.9 Lease Liability 64.7 10.1 19.4 11.9 23.3 Other liabilities 222.5 11.4 56.0 137.7 17.4 Total 6,664.2 1,134.4 1,711.1 1,852.3 1,966.4 |
Summary of Company's Cash, Cash Equivalents, Financial Investments and Loans and Financing | On December 31, 2021, the Company’s cash, cash equivalents, financial investments and loans and financing were indexed as follows: Without derivative effect Fixed interest rate Variable interest rate Total Amount % Amount % Amount % Cash, cash equivalents and financial investments 2,559.6 97.15 % 75.2 2.85 % 2,634.8 100.00 % Loans and financing 3,514.6 87.28 % 512.3 12.72 % 4,026.9 100.00 % With derivative effect Fixed interest rate Variable interest rate Total Amount % Amount % Amount % Cash, cash equivalents and financial investments 2,559.6 97.15 % 75.2 2.85 % 2,634.8 100.00 % Loans and financing 3,803.7 94.46 % 223.2 5.54 % 4,026.9 100.00 % |
Summary of Company's Cash Equivalents and Post Fixed Financing | On December 31, 2021, the Company’s cash equivalents and variable interest rate loans and financing were indexed as follows, considering the contractual cash flows (without derivative effect) and the cash flows changed due to interest rate swaps (with derivative effect): Without derivative effect With derivative effect Amount % Amount % Cash equivalents and financial investments 75.2 100.00 % 75.2 100.00 % CDI 75.2 100.00 % 75.2 100.00 % Loans and financing 512.3 100.00 % 223.2 100.00 % TJLP 0.2 0.04 % 0.2 0.09 % Libor 480.5 93.79 % 177.5 79.53 % CDI 3.7 0.72 % 17.5 7.84 % SIFMA 21.5 4.20 % 21.5 9.63 % IPCA 0.6 0.12 % 0.6 0.27 % EURIBOR 5.8 1.13 % 5.9 2.64 % |
Summary of Changes In Foreign Exchange Rates | On December 31, 2021, the Company had the following amounts of financial assets and liabilities denominated in several currencies: 12.31.2021 12.31.2020 Loans and financing Brazilian reais 18.3 83.4 U.S. dollars 3,982.5 4,342.2 Euro 26.1 22.4 4,026.9 4,448.0 Trade accounts payable Brazilian reais 77.6 54.3 U.S. dollars 385.6 385.6 Euro 31.3 61.1 Other currencies 0.7 1.3 495.2 502.3 Trade accounts payable - Supplier finance Brazilian reais 2.8 — U.S. dollars 12.0 — 14.8 — Total (1) 4,536.9 4,950.3 Cash and cash equivalents and financial investments Brazilian reais 94.9 89.5 U.S. dollars 2,493.6 2,617.6 Euro 42.4 42.8 Other currencies 3.8 2.4 2,634.7 2,752.3 Trade accounts receivable: Brazilian reais 33.3 6.5 U.S. dollars 134.8 173.7 Euro 20.8 23.2 Other currencies 0.1 — 189.0 203.4 Total (2) 2,823.7 2,955.7 Net exposure (1 - 2): Brazilian reais (29.5 ) 41.7 U.S. dollars 1,751.7 1,936.5 Euro (5.8 ) 17.5 Other currencies (3.2 ) (1.1 ) |
Summary of Interest Risk Factor | 27.4.2 Interest risk factor Additional variations in book balances (*) Risk factor Amounts -50% -25% Probable +25% +50% Cash equivalents and financial investments CDI 75.2 (2.5 ) (0.3 ) 1.9 4.1 6.3 Loans and financing CDI (3.7 ) (0.1 ) — 0.1 0.2 0.3 Net impact CDI 71.5 (2.6 ) (0.3 ) 2.0 4.3 6.6 Loans and financing LIBOR (480.5 ) 0.3 (0.3 ) (1.0 ) (1.7 ) (2.3 ) Net impact LIBOR (480.5 ) 0.3 (0.3 ) (1.0 ) (1.7 ) (2.3 ) Loans and financing TJLP (0.2 ) — — — — — Net impact TJLP (0.2 ) — — — — — Loans and financing IPCA (0.6 ) — — — — — Net impact IPCA (0.6 ) — — — — — Rates considered CDI 9.15 % 5.85 % 8.78 % 11.70 % 14.63 % 17.55 % Rates considered LIBOR 6M 0.35 % 0.28 % 0.42 % 0.56 % 0.69 % 0.83 % Rates considered TJLP 5.32 % 3.04 % 4.56 % 6.08 % 7.60 % 9.12 % Rates considered IPCA 10.06 % 5.11 % 7.67 % 10.23 % 12.78 % 15.34 % (*) The positive and negative variations of 25% and 50% were applied on the rates in effect at 12.31.2021 |
Summary of Foreign Exchange Risk Factor | 27.4.3 Foreign exchange risk factor Additional variations in book balances (*) Risk factor Amounts -50% -25% Probable +25% +50% Assets 402.6 200.6 99.6 (1.4 ) (102.4 ) (203.4 ) Cash, cash equivalents and financial investments R$ 94.9 47.3 23.5 (0.3 ) (24.1 ) (48.0 ) Other assets R$ 307.7 153.3 76.1 (1.1 ) (78.3 ) (155.4 ) Liabilities (327.0 ) (162.9 ) (80.9 ) 1.2 83.2 165.2 Loans and financing R$ (18.3 ) (9.1 ) (4.5 ) 0.1 4.7 9.2 Other liabilities R$ (308.7 ) (153.8 ) (76.4 ) 1.1 78.5 156.0 Net impact 75.6 37.7 18.7 (0.2 ) (19.2 ) (38.2 ) Exchange rate considered 5.5805 2.8000 4.2000 5.6000 7.0000 8.4000 (*) The positive and negative variations of 25% and 50% were applied on the rates |
Summary of Derivative Contracts | 27.4.4 Derivative contracts Additional variations in book balances (*) Risk factor Amounts -50% -25% Probable +25% +50% Derivative Designated as Hedge Accounting Interest swap - fair value hedge CDI (1.1 ) 50.2 18.9 (0.1 ) (18.5 ) (49.3 ) Other derivatives Interest swap LIBOR (5.7 ) 48.1 19.6 3.3 (12.3 ) (40.4 ) Total (6.8 ) 98.3 38.5 3.2 (30.8 ) (89.7 ) Rate considered LIBOR 113.26 % 56.00 % 84.00 % 112.00 % 140.00 % 168.00 % Rate considered CDI 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % (*) The positive and negative variations of 25% and 50% were applied on the rates |
Shareholders' equity (Tables)
Shareholders' equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Schedule of Treasury Shares | The movement is shown below: USD Quantity Share value Net income of At the beginning of the year 25.7 4,291,938 6.0 — Repurchase of shares in the period 2.5 1,540,300 1.6 — At December 31, 2021 28.2 5,832,238 4.8 — |
Share-based compensation (Table
Share-based compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Disclosure of Number and Weighted Average Exercise Prices of Share Options | Amount of Grant Amount of Fair value of Fair value of Grants on August 24, 2017 1,930,350 30.5 230,750 5.0 1.0 Grants on April 12, 2018 1,622,986 35.2 314,552 6.8 1.3 Grants on March 12, 2019 1,160,552 22.4 885,237 19.3 3.7 Grants on March 24, 2020 1,401,293 23.8 710,127 15.5 3.0 Grants on November 13, 2020 6,530,000 43.6 2,399,444 52.2 10.0 Grants on March 18, 2021 2,181,442 24.6 591,938 12.9 2.5 At December 31, 2021 14,826,623 180.1 5,132,048 111.7 21.5 Amount of Grant Amount of Fair value of Fair value of Grants on March 10, 2016 1,095,720 31.1 115,308 1.0 0.2 Grants on June 09, 2016 55,994 1.1 7,722 0.1 — Grants on August 25, 2016 70,978 1.1 10,659 0.1 — Grants on August 24, 2017 1,930,350 30.5 446,656 4.0 0.8 Grants on April 12, 2018 1,622,986 35.2 996,805 9.0 1.7 Grants on March 12, 2019 1,160,552 22.4 613,695 5.5 1.1 Grants on March 24, 2020 1,401,293 23.8 344,679 3.1 0.6 Grants on November 13, 2020 6,530,000 43.6 362,778 3.3 0.6 At December 31, 2020 13,867,873 188.8 2,898,302 26.1 5.0 (i) Refers to the estimated fair value of total virtual shares to be granted in each grant date. (ii) Outstanding virtual shares until December 31, 2021 and December 31, 2020 considering the plan’s vesting period and less the virtual shares already paid to the beneficiaries. (iii) Fair value of virtual shares as of December 31, 2021 and December 31, 2020 considering the plan’s vesting period and fair value of Embraer’s shares in the market on each date based on the plan’s requirements. |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Basic and Diluted Earnings Per Common Share | Basic and diluted earnings per common share are computed by dividing net income/(loss) for the year by the weighted average number of shares outstanding during the period, excluding shares held in treasury. 12.31.2021 12.31.2020 12.31.2019 Losses attributable to owners of Embraer (44.7 ) (731.9 ) (322.3 ) (44.7 ) (731.9 ) (322.3 ) Weighted average number of shares (in thousands) 734,730 736,164 735,850 Basic and diluted earnings per share - U.S. dollars (0.06 ) (0.99 ) (0.44 ) |
Revenue from contracts with c_2
Revenue from contracts with customers (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Revenue Disaggregation | • Revenue by category at December 31, 2021: Commercial Defense and Executive Service and Others Total Aircraft 1,313.2 148.8 1,098.7 — 17.5 2,578.2 Long-term contracts — 320.6 — — — 320.6 Others 3.2 23.2 31.4 8.7 1.4 67.9 Service — 87.9 — 795.6 — 883.5 Spare Parts — 13.9 — 327.9 5.2 347.0 Total 1,316.4 594.4 1,130.1 1,132.2 24.1 4,197.2 North Latin America Asia Pacific Brazil Europe Others Total Aircraft 1,525.3 4.1 102.8 79.5 731.2 135.3 2,578.2 Long-term contracts — — — 202.4 117.5 0.7 320.6 Others 30.2 0.4 3.7 22.9 9.8 0.9 67.9 Service 417.8 20.9 72.9 129.7 203.3 38.9 883.5 Spare Parts 194.9 12.4 30.2 44.1 54.9 10.5 347.0 Total 2,168.2 37.8 209.6 478.6 1,116.7 186.3 4,197.2 • Revenue by category at December 31, 2020: Commercial Defense and Security Executive Jets Service and Support Other Total Aircraft 1,103.7 239.5 1,015.3 — 7.7 2,366.2 Long-term contracts — 296.9 — — — 296.9 Others 10.7 19.9 56.2 4.9 1.1 92.8 Service — 73.7 — 712.7 — 786.4 Spare Parts — 23.9 — 202.4 2.5 228.8 Total 1,114.4 653.9 1,071.5 920.0 11.3 3,771.1 North Latin America Asia Pacific Brazil Europe Other Total Aircraft 1,962.7 49.7 77.1 6.9 237.7 32.1 2,366.2 Long-term contracts — 0.3 0.1 230.9 64.9 0.7 296.9 Others 61.0 0.4 8.6 13.3 5.0 4.5 92.8 Service 385.6 22.4 56.4 91.9 198.7 31.4 786.4 Spare Parts 123.2 3.2 19.4 40.0 37.7 5.3 228.8 Total 2,532.5 76.0 161.6 383.0 544.0 74.0 3,771.1 • Revenue by category at December 31, 2019: Commercial Aviation Defense and Security Executive Jets Service and Support Other Total Aircraft 2,184.7 89.9 1,311.9 0.2 5.6 3,592.3 Long-term contracts — 397.9 — 1.2 — 399.1 Others 49.7 16.0 85.1 0.7 — 151.5 Service — 65.2 — 817.5 0.1 882.8 Spare Parts — 7.3 — 426.1 3.5 436.9 Total 2,234.4 576.3 1,397.0 1,245.7 9.2 5,462.6 North Latin America Asia Pacific Brazil Europe Other Total Aircraft 2,549.0 21.3 272.0 59.1 614.3 76.6 3,592.3 Long-term contracts 0.1 1.3 2.1 378.8 13.5 3.3 399.1 Others 98.6 19.2 5.7 8.6 12.5 6.9 151.5 Service 437.5 26.6 72.6 101.3 205.1 39.7 882.8 Spare Parts 260.4 8.0 24.6 55.5 78.3 10.1 436.9 Total 3,345.6 76.4 377.0 603.3 923.7 136.6 5,462.6 |
Summary of Contract balances, including contract costs | b) Contract balances, including contract costs: 12.31.2021 12.31.2020 Contract assets 582.3 461.8 Contract liabilities 1,513.3 1,295.4 Advances from customers - Aircraft and Defense long-term contracts 1,312.4 1,049.3 Deferred revenue - Parts and services 200.9 246.1 |
Revenue (expenses) by type (Tab
Revenue (expenses) by type (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Revenue Expenses | The Company opted to present the consolidated statements of income by function. The table below shows the detailed costs and expenses by nature: 12.31.2021 12.31.2020 12.31.2019 As presented in the statements of income: Revenue 4,197.2 3,771.1 5,462.6 Cost of sales and services (3,537.6 ) (3,293.5 ) (4,667.1 ) Administrative (153.2 ) (143.4 ) (190.2 ) Selling (226.4 ) (194.0 ) (286.5 ) Expected credit loss (reversal) over financial assets and contract assets 13.0 (61.8 ) 0.6 Research (43.0 ) (29.8 ) (49.4 ) Other operating expense, net (49.8 ) (374.7 ) (346.8 ) Equity in income of associates 1.1 2.7 (0.2 ) Operating profit before financial income 201.3 (323.4 ) (77.0 ) Revenue (expenses) by nature: Revenue from sales of goods 3,490.1 3,194.5 4,755.2 Revenue from sales of services 742.3 620.9 773.3 Sales deductions and tax on revenue (i) (35.2 ) (44.3 ) (65.9 ) General manufacturing costs (ii) (3,329.0 ) (3,001.4 ) (4,457.4 ) Depreciation (122.0 ) (163.6 ) (113.8 ) Amortization (86.6 ) (128.5 ) (95.9 ) Personnel expenses (224.2 ) (194.2 ) (257.5 ) Selling expenses (47.6 ) (48.1 ) (71.9 ) Equity in losses on associates 1.1 2.7 (0.2 ) Research (43.0 ) (29.8 ) (49.4 ) Expected credit losses over financial assets and contract assets 13.0 (61.8 ) 0.6 Services provided (82.2 ) (74.5 ) (93.8 ) Other operating expenses, net (Note 33) (49.8 ) (374.7 ) (346.8 ) Miscellaneous (iii) (25.6 ) (20.6 ) (53.5 ) Operating profit before financial income 201.3 (323.4 ) (77.0 ) (i) Refers to sales taxes and other deductions. (ii) Refers to costs of materials and general manufacturing expenses. (iii) Refers mainly to expenses with insurance, taxes and fees. |
Other operating expense, net (T
Other operating expense, net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Disclosure of Other Operating Income (Expense) | 12.31.2021 12.31.2020 12.31.2019 Corporate projects (i) (59.4 ) (56.4 ) (129.0 ) Restructuring expenses (ii) (31.8 ) (69.2 ) — Taxes on other sales (23.7 ) (20.3 ) (29.5 ) Expenses system project (10.8 ) (6.7 ) (12.9 ) Residual value of fixed assets disposed (10.5 ) — — Aircraft maintenance and flights costs -fleet (7.8 ) (2.8 ) (2.1 ) Flight safety standards (3.1 ) (3.1 ) (4.7 ) Product modification (2.7 ) (2.5 ) (2.4 ) Training and development (1.5 ) (4.7 ) (6.8 ) Depreciation and amortization -Commercial Aviation — (101.2 ) — Costs with personnel (iii) — (44.8 ) — Carve-Out — (82.8 ) (111.3 ) Additional losses with financial guarantees exercised — (5.9 ) — Contractual fines (1.0 ) (3.9 ) (3.5 ) Reversal of tax provisions — 8.1 26.8 Recovery of expenses — 12.7 26.2 Contractual fines revenue 7.1 15.1 31.0 Other sales 7.3 6.2 8.3 Impairment of assets (v) 11.2 4.2 (104.4 ) Royalties 16.5 7.0 15.9 Reversal (Provision) for contingencies (iv) 22.1 (0.3 ) (8.1 ) Fair value changes -Republic Airways shares 39.1 (4.1 ) 0.7 Others (0.8 ) (19.3 ) (41.0 ) (49.8 ) (374.7 ) (346.8 ) (i) Corporate projects expenses mainly relate to disbursements with demands approved by Management associated with efficiency and restructuring of processes, IT, cyber security and legal demands. (ii) Restructuring refers to (i) expenses incurred by the Company as part of the corporate restructuring project started in the current year (2021) and (ii) expenses incurred in 2020 by the Company as a result of the pandemic crisis, including the voluntary dismissal plans for specific group of employees in Brazil and reduction of work force. (iii) Refer to costs with personnel incurred as a result of the impacts caused by the COVID-19 (lay-off). (iv) Refer to separation costs incurred in the internal carve-out (v) Impairment of assets mainly relates to (i) impairment loss of US$ 45.1 in 2021 recognized on the assets held for sale (Note 16) and (ii) impairment reversal of US$ 57.9 in 2021 of losses recognized before in the cash-generating unit Mid-Size Mid-Size (vi) It mainly refers to reversal of previously booked tax obligation which the Company received favorable outcome during 2021 (Note 23(i)). |
Financial expense, net (Tables)
Financial expense, net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Schedule of Financial Income (Expense), Net | 12.31.2021 12.31.2020 12.31.2019 Financial income: Interest on cash and cash equivalents and financial investments 17.9 18.3 68.2 Interest on receivables 3.1 10.6 55.4 Residual value guarantee 52.0 3.7 — Taxes over financial revenue (2.2 ) (3.9 ) (7.0 ) Phantom shares (LTI) — 5.1 1.5 Others 4.0 (4.7 ) (1.3 ) Total financial income 74.8 29.1 116.8 Financial expenses: Interest on loans and financing (240.7 ) (214.9 ) (201.6 ) IOF -(tax on financial transactions) (0.9 ) (9.1 ) (1.6 ) Interest on taxes, social charges and contributions (3.2 ) (4.9 ) (6.7 ) Residual value guarantee — — (14.7 ) Financial restructuring costs (2.4 ) — — Phantom shares (LTI) (17.7 ) — — Others (9.3 ) (16.1 ) (14.7 ) Total financial expenses (274.2 ) (245.0 ) (239.3 ) Derivative financial instruments — (16.8 ) 6.4 Financial expenses, net (199.4 ) (232.7 ) (116.1 ) |
Foreign exchange gain (loss),_2
Foreign exchange gain (loss), net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Schedule of Foreign exchange gain (loss), net | 12.31.2021 12.31.2020 12.31.2019 Monetary and foreign exchange variations Assets: Tax credits (14.2 ) (33.7 ) (9.6 ) Trade accounts receivable and contract assets (1.9 ) (37.6 ) (8.4 ) Cash and cash equivalents and financial investments 2.4 (37.7 ) (17.6 ) Other 4.0 (24.3 ) 9.8 (9.7 ) (133.3 ) (25.8 ) Liabilities: Loans and financing 3.9 4.9 7.8 Advances from customers (1.0 ) (0.5 ) — Provisions 12.3 34.7 14.8 Taxes and charges payable 4.0 12.8 2.5 Deferred income tax and social contribution — — 2.4 Other payables 5.9 (33.0 ) (11.6 ) Suppliers (2.7 ) 19.0 14.8 Provisions for contingencies 3.2 18.7 5.5 Other 5.5 (0.4 ) (0.1 ) 31.1 56.2 36.1 Net monetary and foreign exchange variations 21.4 (77.1 ) 10.3 Derivative financial instruments 4.1 (2.0 ) (3.4 ) Foreign exchange gain (loss), net 25.5 (79.1 ) 6.9 |
Supplemental Cash Flow inform_2
Supplemental Cash Flow information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Payments Made During Period and Transactions Not Affecting Cash and Cash Equivalents | 37.1 Payments made during the year and transactions not affecting cash and cash equivalents 12.31.2021 12.31.2020 12.31.2019 Payments made during the period: Income tax and social contribution 22.5 86.9 42.3 Interest 207.4 173.2 188.1 Non-cash — Acquisition of inventories through assumption of financing — 14.1 — Write off on Property, plant and equipment by transfer to pool parts inventory (23.2 ) (18.2 ) (21.6 ) Property, plant and equipment, transfer for providing for the sale of inventory — (38.4 ) (38.5 ) Non-controlling — 22.2 — |
Segment information (Tables)
Segment information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Income Data by Operating Segment | Consolidated statements of income data by operating segment – year ended December 31, 2021: Commercial Defense and Executive Service and Others Total Unallocated Total Revenue 1,316.4 594.4 1,130.1 1,132.2 24.1 4,197.2 — 4,197.2 Cost of sales and services (1,263.9 ) (488.4 ) (923.4 ) (827.6 ) (34.3 ) (3,537.6 ) — (3,537.6 ) Gross profit 52.5 106.0 206.7 304.6 (10.2 ) 659.6 — 659.6 Gross profit % 4.0 % 17.8 % 18.3 % 26.9 % -42.3 % 15.7 % 15.7 % Operating income (expense) (57.1 ) (89.0 ) (76.9 ) (143.2 ) (23.1 ) (389.3 ) (69.0 ) (458.3 ) Operating profit before financial income (expense) (4.6 ) 17.0 129.8 161.4 (33.3 ) 270.3 (69.0 ) 201.3 Financial income (expense), net (199.4 ) (199.4 ) Foreign exchange loss, net 25.5 25.5 Loss before taxes on income 27.4 Income tax expense (70.9 ) (70.9 ) Loss for the period (43.5 ) Consolidated statements of income data by operating segment – year ended December 31, 2020: Commercial Defense and Executive Service and Others Total Unallocated Total Revenue 1,114.4 653.9 1,071.5 920.0 11.3 3,771.1 — 3,771.1 Cost of sales and services (1,086.8 ) (549.1 ) (886.1 ) (751.4 ) (20.1 ) (3,293.5 ) — (3,293.5 ) Gross profit 27.6 104.8 185.4 168.6 (8.8 ) 477.6 — 477.6 Gross profit % 2.5 % 16.0 % 17.3 % 18.3 % -77.9 % 12.7 % 12.7 % Operating income (expense) (300.8 ) (72.2 ) (95.5 ) (240.7 ) (22.6 ) (731.8 ) (69.2 ) (801.0 ) Operating profit before financial income (expense) (273.2 ) 32.6 89.9 (72.1 ) (31.4 ) (254.2 ) (69.2 ) (323.4 ) Financial income (expense), net (232.7 ) (232.7 ) Foreign exchange gain (loss), net (79.1 ) (79.1 ) Loss before taxes on income (635.2 ) Income tax benefit (expense) (93.1 ) (93.1 ) Loss for the period (728.3 ) Consolidated statements of income data by operating segment – year ended December 31, 2019: Commercial Defense and Executive Service and Others Total Unallocated Total Revenue 2,234.4 576.3 1,397.0 1,245.7 9.2 5,462.6 — 5,462.6 Cost of sales and services (1,971.1 ) (539.6 ) (1,211.1 ) (927.4 ) (17.9 ) (4,667.1 ) — (4,667.1 ) Gross profit 263.3 36.7 185.9 318.3 (8.7 ) 795.5 — 795.5 Gross profit % 11.8 % 6.4 % 13.3 % 25.6 % -94.6 % 14.6 % 0.0 % 14.6 % Operating income (expense) (332.2 ) (98.7 ) (235.2 ) (188.3 ) (18.1 ) (872.5 ) — (872.5 ) Operating profit before financial income (expense) (68.9 ) (62.0 ) (49.3 ) 130.0 (26.8 ) (77.0 ) — (77.0 ) Financial income (expense), net (116.1 ) (116.1 ) Foreign exchange gain (loss), net 6.9 6.9 Profit before taxes on income (186.2 ) Income tax expense (130.3 ) (130.3 ) Net income (316.5 ) |
Summary of Revenue by Geographic Area | Revenue by geographic area - year ended December 31, 2021: Commercial Defense and Executive Service and Others Total North America 687.6 58.1 807.2 614.0 1.3 2,168.2 Europe 494.5 158.7 229.1 234.4 — 1,116.7 Asia Pacific 3.3 80.8 27.6 97.9 — 209.6 Latin America, except Brazil — 3.0 4.1 30.7 — 37.8 Brazil 1.8 285.8 62.1 106.1 22.8 478.6 Other 129.2 8.0 — 49.1 — 186.3 Total 1,316.4 594.4 1,130.1 1,132.2 24.1 4,197.2 Revenue by geographic area – year ended December 31, 2020: Commercial Defense and Executive Service and Others Total North America 858.4 108.8 1,054.4 509.7 1.2 2,532.5 Europe 215.4 108.4 17.1 203.1 — 544.0 Asia Pacific 4.8 81.6 — 75.2 — 161.6 Latin America, except Brazil 0.4 49.2 — 26.4 — 76.0 Brazil 3.0 297.6 — 72.3 10.1 383.0 Other 32.4 8.3 — 33.3 — 74.0 Total 1,114.4 653.9 1,071.5 920.0 11.3 3,771.1 Revenue by geographic area – year ended December 31, 2019: Commercial Defense and Executive Service and Others Total North America 1,399.8 66.5 1,181.6 697.0 0.7 3,345.6 Europe 508.2 39.0 118.8 257.7 — 923.7 Asia Pacific 256.9 1.8 20.3 98.0 — 377.0 Latin America, except Brazil 17.0 2.7 21.6 35.1 — 76.4 Brazil 0.7 431.8 54.7 107.6 8.5 603.3 Other 51.8 34.5 — 50.3 — 136.6 Total 2,234.4 576.3 1,397.0 1,245.7 9.2 5,462.6 |
Summary of Assets by Operating Segment | Assets by operating segment - year ended December 31, 2021: Commercial Defense and Executive Service and Others Total Unallocated Total Trade accounts receivable — 32.7 — 152.3 4.0 189.0 — 189.0 Property, plant and equipment 498.2 253.8 344.9 589.7 1.0 1,687.6 — 1,687.6 Intangible assets 1,154.1 11.8 788.0 — 182.7 2,136.6 76.8 2,213.4 Total 1,652.3 298.3 1,132.9 742.0 187.7 4,013.2 76.8 4,090.0 Assets by operating segment - year ended December 31, 2020: Commercial Defense and Executive Service and Others Total Unallocated Total Trade accounts receivable 2.4 50.5 — 146.0 4.5 203.4 — 203.4 Property, plant and equipment 821.7 216.6 322.2 595.5 — 1,956.0 — 1,956.0 Intangible assets 1,065.5 8.4 750.5 — 155.0 1,979.4 96.2 2,075.6 Total 1,889.6 275.5 1,072.7 741.5 159.5 4,138.8 96.2 4,235.0 |
Summary of Assets by Geographical Area | Assets by geographic area - year ended December 31, 2021: North Europe Asia Pacific Brazil Total Trade accounts receivable 44.6 49.3 44.0 51.1 189.0 Property, plant and equipment 337.7 305.9 44.4 999.6 1,687.6 Intangible assets 96.6 43.2 — 2,073.6 2,213.4 Total 478.9 398.4 88.4 3,124.3 4,090.0 Assets by geographic area - year ended December 31, 2020: North Europe Asia Brazil Total Trade accounts receivable 53.9 61.5 5.0 83.0 203.4 Property, plant and equipment 347.6 541.5 42.6 1,024.3 1,956.0 Intangible assets 82.8 27.3 — 1,965.5 2,075.6 Total 484.3 630.3 47.6 3,072.8 4,235.0 |
Operations - Additional Informa
Operations - Additional Information (Detail) $ in Millions | Nov. 11, 2021USD ($) | Sep. 30, 2021Jets | Mar. 31, 2021Jets | Dec. 31, 2021USD ($)Aircraftshares | Dec. 31, 2021USD ($)JetsAircraftPhenomshares | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Feb. 09, 2022Aircraft | Jan. 11, 2022USD ($) | Nov. 12, 2021 | Oct. 28, 2021USD ($) |
Nature of operations [line items] | |||||||||||
Termination Settlement Of Residual Value Guarantees | $ 18 | ||||||||||
Sale of stock price per share | $ 172 | ||||||||||
Assets Held For Sale | $ 50.1 | ||||||||||
Other operating expense | 45.1 | $ (49.8) | $ (374.7) | $ (346.8) | |||||||
Income Tax Expense | 5 | 70.9 | $ 93.1 | $ 130.3 | |||||||
Impairment Charges | $ 0 | ||||||||||
Financial expense net | $ 50.3 | $ 50.3 | |||||||||
Aircraft E175-E1 [member] | Overland Airways [member] | |||||||||||
Nature of operations [line items] | |||||||||||
Number of aircraft orders received from customer | Aircraft | 3 | ||||||||||
Aircraft E2 Family [member] | Azorra [member] | |||||||||||
Nature of operations [line items] | |||||||||||
Number of aircraft orders received from customer | Aircraft | 20 | ||||||||||
Phenom [Member] | |||||||||||
Nature of operations [line items] | |||||||||||
Number Of Aircraft Order Received | Phenom | 100 | ||||||||||
Jet [Member] | |||||||||||
Nature of operations [line items] | |||||||||||
Number Of Aircraft Order Received | Jets | 30 | 9 | 300 | ||||||||
Proceeds from Sale of Aircraft | $ 1,200 | ||||||||||
Property Plant And Equipment Number Of Aircraft Sold | Jets | 93 | ||||||||||
Jet [Member] | Aircraft E175-E1 [member] | |||||||||||
Nature of operations [line items] | |||||||||||
Number Of Aircraft Order Received | Jets | 16 | ||||||||||
Embraer Aircraft Holding Inc [member] | |||||||||||
Nature of operations [line items] | |||||||||||
Number Of Shares Acquired | shares | 237,500,000 | ||||||||||
NumberOfOutstandingShares(In%) | 82.00% | 82.00% | |||||||||
Number Of Shares Issued | shares | 220,000,000 | 220,000,000 | |||||||||
Number Of Shares Issued | shares | 17,500,000 | 17,500,000 | |||||||||
Proceeds from issue of ordinary shares | $ 237 | ||||||||||
Zanite Acquisition Corp [Member] | |||||||||||
Nature of operations [line items] | |||||||||||
Cash Contribution | $ 175 | 175 | |||||||||
Embraer [Member] | |||||||||||
Nature of operations [line items] | |||||||||||
Cash Contribution | 305 | 305 | |||||||||
Price Protection Commitment | $ 30 | $ 30 | |||||||||
Executive Jets business unit [Member] | |||||||||||
Nature of operations [line items] | |||||||||||
Increase In Production Percentage Of Aircraft | 8.00% | ||||||||||
Brazilian Air Force [member] | Related parties [member] | |||||||||||
Nature of operations [line items] | |||||||||||
Contract with customer contract amendments cumulative adjustment percentage | 25.00% | ||||||||||
Contract with customer number of aircrafts agreed to sell | Aircraft | 28 | 28 | 22 |
Presentation of the Financial_4
Presentation of the Financial Statements and Accounting Practices - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of basis of preparation of financial statements [line items] | |||
Correction In Valuation Of Inventory Raw Materials | $ 822,700 | $ 822,700 | $ 1,040,300 |
Discount rate Of Leases | 7.00% | 7.00% | |
Dilutive effect of share options on number of ordinary shares | 0 | ||
Later than five years [member] | |||
Disclosure of basis of preparation of financial statements [line items] | |||
Maturity Of Lease Payment | 5 | ||
Bottom of range [member] | |||
Disclosure of basis of preparation of financial statements [line items] | |||
Warranty coverage period | 3 years | ||
Term Of Lease Agreement | 2 | ||
Top of range [member] | |||
Disclosure of basis of preparation of financial statements [line items] | |||
Warranty coverage period | 6 years | ||
Low value assets leases individual amount | $ 5 | $ 5 | |
Term Of Lease Agreement | 20 | ||
Computer software [member] | |||
Disclosure of basis of preparation of financial statements [line items] | |||
Description on tenure of benefits derived from intangible assets | Development costs directly attributable to identifiable and unique software, controlled by the Company and that is expected to generate benefits greater than the costs for more than one year, are recorded in intangible assets. | ||
Employee profit sharing plan [member] | |||
Disclosure of basis of preparation of financial statements [line items] | |||
Percentage of total amount of profit sharing equally divided to employees | 50.00% | ||
Employee profit sharing plan [member] | Bottom of range [member] | |||
Disclosure of basis of preparation of financial statements [line items] | |||
Percentage Of Employee Profit Sharing Of Monthly Compensation Of Each Employee Upon Fulfillment Of Targets | 25.00% | ||
Employee profit sharing plan [member] | Top of range [member] | |||
Disclosure of basis of preparation of financial statements [line items] | |||
Percentage Of Employee Profit Sharing Of Monthly Compensation Of Each Employee Upon Fulfillment Of Targets | 50.00% | ||
Increase (decrease) due to changes in accounting policy and corrections of prior period errors [member] | |||
Disclosure of basis of preparation of financial statements [line items] | |||
Correction In Valuation Of Inventory Raw Materials | $ 31,600 | $ 31,600 | |
Brazil [member] | |||
Disclosure of basis of preparation of financial statements [line items] | |||
Nominal rate of current income tax | 34.00% | ||
Percentage of income tax rate | 25.00% | ||
Percentage of social contribution on net income | 9.00% | ||
Embraer S.A [member] | |||
Disclosure of basis of preparation of financial statements [line items] | |||
Percentage of ownership interest held by subsidiaries in joint operations | 25.00% |
Presentation of the Financial_5
Presentation of the Financial Statements and Accounting Practices - Summary Of Revised Consolidated Financial Statements (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
CURRENT | |||||
Inventories | $ 1,986 | $ 2,437.9 | $ 1,272.8 | ||
Other assets | 8,078.1 | 9,268.1 | |||
TOTAL ASSETS | 10,155 | 10,516 | 10,540.9 | ||
TOTAL LIABILITIES | 7,380 | 7,608.5 | 6,957.9 | ||
SHAREHOLDERS' EQUITY | |||||
Capital | 1,551.6 | 1,551.6 | 1,551.6 | ||
Treasury shares | (28.2) | (25.7) | (26.5) | ||
Revenue reserves | 1,377.8 | 2,110 | |||
Share-based remuneration | 37.4 | 37.4 | |||
Accumulated other comprehensive loss | (194.4) | (114.6) | (154.8) | ||
Retained earning | (31.6) | (31.6) | |||
Non-controlling interests | 107.1 | 112.6 | 96.9 | $ 96.9 | |
TOTAL SHAREHOLDERS' EQUITY | 2,775 | 2,907.5 | 3,583 | 3,583 | $ 3,940.1 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 10,155 | 10,516 | 10,540.9 | ||
Previously stated [member] | |||||
CURRENT | |||||
Inventories | 2,469.5 | 1,304.4 | |||
Other assets | 8,078.1 | 9,268.1 | |||
TOTAL ASSETS | 10,547.6 | 10,572.5 | |||
TOTAL LIABILITIES | 7,608.5 | 6,957.9 | |||
SHAREHOLDERS' EQUITY | |||||
Capital | 1,551.6 | 1,551.6 | |||
Treasury shares | (25.7) | (26.5) | |||
Revenue reserves | 1,377.8 | 2,110 | |||
Share-based remuneration | 37.4 | 37.4 | |||
Accumulated other comprehensive loss | (114.6) | (154.8) | |||
Retained earning | 0 | 0 | |||
Non-controlling interests | 112.6 | 96.9 | |||
TOTAL SHAREHOLDERS' EQUITY | 2,939.1 | 3,614.6 | $ 3,614.6 | $ 3,940.1 | |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 10,547.6 | 10,572.5 | |||
Increase (decrease) due to changes in accounting policy and corrections of prior period errors [member] | |||||
CURRENT | |||||
Inventories | (31.6) | (31.6) | |||
Other assets | 0 | 0 | |||
TOTAL ASSETS | (31.6) | (31.6) | |||
TOTAL LIABILITIES | 0 | 0 | |||
SHAREHOLDERS' EQUITY | |||||
Capital | 0 | 0 | |||
Treasury shares | 0 | 0 | |||
Revenue reserves | 0 | 0 | |||
Share-based remuneration | 0 | 0 | |||
Accumulated other comprehensive loss | 0 | 0 | |||
Retained earning | (31.6) | (31.6) | |||
Non-controlling interests | 0 | 0 | |||
TOTAL SHAREHOLDERS' EQUITY | (31.6) | (31.6) | |||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ (31.6) | $ (31.6) |
Presentation of the Financial_6
Presentation of the Financial Statements and Accounting Practices - Summary of Company's Corporates Structure (Detail) | Nov. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 52.80% | |||
Airholding S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Portugal | |||
Airholding S.A. [member] | Portugal [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Coordinates investments in subsidiaries in Portugal | |||
OGMA - Industria Aeronautica de Portugal S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 65.00% | 65.00% | 65.00% | |
Country | Portugal | |||
OGMA - Industria Aeronautica de Portugal S.A. [member] | Portugal [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 65.00% | |||
Core activities | Aviation maintenance and production | |||
Yaborã Indústria Aeronáutica S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Brazil | |||
Yaborã Indústria Aeronáutica S.A. [member] | Brazil [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Concentrates the production and commercialization of Commercial Aviation | |||
Embraer Aircraft Customer Services Inc. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | EUA | |||
Embraer Aircraft Customer Services Inc. [member] | EUA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Sale of spare parts and support services in North America and the Caribbean | |||
Embraer Aircraft Maintenance Services Inc. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | EUA | |||
Embraer Aircraft Maintenance Services Inc. [member] | EUA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Maintenance of aircraft and components | |||
Embraer Aviation France - EAF [membe] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | France | |||
Embraer Aviation France - EAF [membe] | France [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Sale of spare parts and support services in Europe | |||
ELEB - Equipamentos Ltda. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Brazil | |||
ELEB - Equipamentos Ltda. [member] | Brazil [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Sale of hydraulic and mechanical equipment for the aviation industry | |||
Embraer Aircraft Holding Inc. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | EUA | |||
Embraer Aircraft Holding Inc. [member] | EUA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Concentrates corporate activities in the USA | |||
Embraer Business Innovation Center, Inc. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | EUA | |||
Embraer Business Innovation Center, Inc. [member] | EUA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | R&D of technological innovations in the aerospace sector and related areas | |||
Embraer Executive Jet Services, LLC [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | EUA | |||
Embraer Executive Jet Services, LLC [member] | EUA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | After sale support and aircraft maintenance | |||
Embraer Executive Aircraft, Inc. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | EUA | |||
Embraer Executive Aircraft, Inc. [member] | EUA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Final assembly and delivery of executive jets | |||
Embraer Engineering &Technology Center USA, Inc. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | EUA | |||
Embraer Engineering &Technology Center USA, Inc. [member] | EUA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Engineering services related to aircraft research and development | |||
Embraer Defense and Security Inc. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | EUA | |||
Embraer Defense and Security Inc. [member] | EUA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Supply of Super Tucano aircraft to the American Air Force (LAS) | |||
Embraer CAE Training Services LLC [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | EUA | |||
Embraer CAE Training Services LLC [member] | EUA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 51.00% | |||
Core activities | Pilot, mechanic and crew training | |||
Embraer Solutions, LLC [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | EUA | |||
Embraer Solutions, LLC [member] | EUA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Sale of spare parts and support services for the Executive Aviation | |||
Embraer Aviation Europe EAE [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | France | |||
Embraer Aviation Europe EAE [member] | France [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Concentrates corporate activities abroad, specifically Europe | |||
Embraer Aviation International EAI [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | France | |||
Embraer Aviation International EAI [member] | France [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Sale of parts and after sale services in Europe, Africa and the Middle East | |||
Embraer Europe SARL [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | France | |||
Embraer Europe SARL [member] | France [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Commercial representation of the Company in Europe, Africa and the Middle East | |||
Embraer Defesa And Seguranca Participacoes S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Brazil | |||
Embraer Defesa And Seguranca Participacoes S.A. [member] | Brazil [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Coordinates investments in the Defense & Security segments | |||
Atech Negocios em Tecnologias S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Brazil | |||
Atech Negocios em Tecnologias S.A. [member] | Brazil [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Development and control, communications, computer and intelligence services | |||
Visiona Tecnologia Espacial S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 51.00% | 51.00% | 51.00% | |
Country | Brazil | |||
Visiona Tecnologia Espacial S.A. [member] | Brazil [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 51.00% | |||
Core activities | Supply and development of satellite solutions | |||
Visiona Internacional B.V. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Netherlands | |||
Visiona Internacional B.V. [member] | Netherlands [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | International subsidiary of Visiona | |||
Embraer GPX Ltda [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Brazil | |||
Embraer GPX Ltda [member] | Brazil [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | No operations | |||
Embraer Netherlands Finance BV [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Netherlands | |||
Embraer Netherlands Finance BV [member] | Netherlands [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Financial operations raising and investing funds of the Embraer Group | |||
Embraer Netherlands B V [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Netherlands | |||
Embraer Netherlands B V [member] | Netherlands [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Concentrates corporate activities in Europe for leasing and selling used aircraft | |||
Embraer Asia Pacific PTE. Ltd. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Singapore | |||
Embraer Asia Pacific PTE. Ltd. [member] | Singapore [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Sale of spare parts and support services in Asia | |||
Embraer Portugal S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Portugal | |||
Embraer Portugal S.A. [member] | Portugal [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Coordinates investments and economic activities in subsidiaries in Portugal | |||
Embraer Portugal Estruturas Metalicas SA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Portugal | |||
Embraer Portugal Estruturas Metalicas SA [member] | Portugal [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Fabrication of steel parts and products for the aviation industry | |||
Embraer Portugal Estruturas em Compositos SA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Portugal | |||
Embraer Portugal Estruturas em Compositos SA [member] | Portugal [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Fabrication of composite parts and products for the aviation industry | |||
Embraer (China) Aircraft Technical Services Company Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | China | |||
Embraer (China) Aircraft Technical Services Company Limited [member] | China [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Sale of spare parts and support services in China | |||
EZ Air Interior Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Ireland | |||
EZ Air Interior Limited [member] | Ireland [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 50.00% | |||
Core activities | Fabrication of interiors for commercial aircraft | |||
Embraer Overseas Ltd. [member] | Cayman Islands [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Financial operations raising and investing funds of the Embraer Group | |||
Country | Cayman Islands | |||
Embraer Spain Holding Co. SL [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Spain | |||
Embraer Spain Holding Co. SL [member] | Spain [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Concentrates corporate activities abroad | |||
ECC Investment Switzerland AG [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Switzerland | |||
ECC Investment Switzerland AG [member] | Switzerland [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Coordinates investments in subsidiaries abroad | |||
ECC Insurance And Financial Company Limited [member] | Cayman Islands [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Covers financial guarantees offered in aircraft sale structuring | |||
Country | Cayman Islands | |||
Embraer Finance Ltd. [member] | Cayman Islands [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Support to the Company in structuring specific operations | |||
Country | Cayman Islands | |||
Fundo de Investimento em Participações Embraer Ventures [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Brazil | |||
Fundo de Investimento em Participações Embraer Ventures [member] | Brazil [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Exclusive fund created with the objective of technological and financial aggregation based on investment and support to small and medium-sized companies focused on disruptive innovation in areas related to the A&D sector. | |||
EVE UAM, LLC. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | EUA | |||
EVE UAM, LLC. [Member] | EUA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Aircraft development, design, manufacturing, selling, certification and support and solutions for urban air traffic management, related to Urban Air Mobility (UAM) | |||
EVE Solucoes de Mobilidade Aerea Urbana Ltda [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Brazil | |||
EVE Solucoes de Mobilidade Aerea Urbana Ltda [Member] | Brazil [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Eve’s subsidiary with operations in Brazil | |||
Tempest Servios De Informatica SA [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 61.00% | 61.00% | ||
Country | Brazil | |||
Tempest Servios De Informatica SA [Member] | Brazil [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 61.00% | |||
Core activities | Research, development and services in the areas of Information Technology, Information Security and Intelligence | |||
Tempest Security Intelligence Limited [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | UK | |||
Tempest Security Intelligence Limited [Member] | United Kingdom [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Retail trade of computer products, maintenance, repair and related services | |||
EZS Informatica SA [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Brazil | |||
EZS Informatica SA [Member] | Brazil [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 100.00% | |||
Core activities | Retail trade of computer products, maintenance, repair and related services | |||
ID IT Tecnologia da Informacao Ltda [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country | Brazil | |||
ID IT Tecnologia da Informacao Ltda [Member] | Brazil [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 99.00% | |||
Core activities | Development and licensing of customizable computer programs, information technology consulting, data processing, application service providers and internet hosting services |
Critical Accounting Estimates_2
Critical Accounting Estimates and Significant Judgements - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021USD ($)Aircraft | Feb. 09, 2022Aircraft | Nov. 12, 2021 | |
Disclosure of changes in accounting estimates [line items] | |||
Estimation of revenue recognition increased | $ 98.9 | ||
Estimation of revenue recognition decreased | $ 88.7 | ||
Hypothetical scenario increase decrease in estimated cost percentage | 10.00% | ||
Brazilian Air Force [member] | Related parties [member] | |||
Disclosure of changes in accounting estimates [line items] | |||
Contract with customer contract amendments cumulative adjustment | $ 40.9 | ||
Contract with customer number of aircrafts agreed to sell | Aircraft | 28 | 22 | |
Contract with customer contract amendments cumulative adjustment percentage | 25.00% |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash and cash equivalents [Line Items] | ||||
Cash and banks | $ 978 | $ 1,117.7 | ||
Cash | 978 | 1,117.7 | ||
Cash equivalents | ||||
Cash equivalents | 840.3 | 765.4 | ||
Cash and cash equivalents | [1] | 1,818.3 | 1,883.1 | $ 2,307.7 |
Fixed deposits [member] | ||||
Cash equivalents | ||||
Cash equivalents | 765.1 | 686.6 | ||
Bank Deposit Certificate [Member] | ||||
Cash equivalents | ||||
Cash equivalents | $ 75.2 | $ 78.8 | ||
[1] | Cash and cash equivalents excludes bank overdrafts of US$ 1.5 as of March 31, 2020. |
Cash and Cash Equivalents - S_2
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Fixed deposits [member] | ||
Cash and cash equivalents [Line Items] | ||
Deposits maturity | 90 days or less | 90 days or less |
Certificate of Deposit [member] | ||
Cash and cash equivalents [Line Items] | ||
Deposits maturity | 90 days or less | 90 days or less |
Financial Investments - Summary
Financial Investments - Summary of Financial Investments (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||
Amortized cost | $ 79.4 | $ 51.8 |
Fair value through other comprehensive income | 541 | 513 |
Fair value through profit or loss | 196 | 304.4 |
Total | 816.4 | 869.2 |
Amortized cost, current portion | 13.8 | 0.1 |
Amortized cost,non-current | 65.6 | 51.7 |
Fair value through other comprehensive income, current portion | 541 | 513 |
Fair value through profit or loss, current portion | 196 | 304.4 |
Current portion, total | 750.8 | 817.5 |
Non-current, total | 65.6 | 51.7 |
Private securities [member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 51.6 | 51.8 |
Total | 51.6 | 51.8 |
Structured notes [member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 14.1 | |
Fair value through profit or loss | 79 | 241.1 |
Total | 93.1 | 241.1 |
Investment funds [member] | ||
Disclosure of financial assets [line items] | ||
Fair value through profit or loss | 22.1 | 7.4 |
Total | 22.1 | 7.4 |
Fixed deposits [member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 13.7 | |
Fair value through other comprehensive income | 541 | 513 |
Total | 554.7 | 513 |
Other Financial Instruments [member] | ||
Disclosure of financial assets [line items] | ||
Fair value through profit or loss | 94.9 | 55.9 |
Total | $ 94.9 | $ 55.9 |
Financial Investments - Summa_2
Financial Investments - Summary of Financial Investments (Parenthetical) (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||
Investment on credit risk | $ 15.7 | |
Financial institution and Brazilian Government [member] | Structured notes [member] | ||
Disclosure of financial assets [line items] | ||
Credit risk | $ 79 | 195.2 |
Two Financial Institutions [Member] | Structured notes [member] | ||
Disclosure of financial assets [line items] | ||
Credit risk | $ 30.1 |
Financial Investments - Additio
Financial Investments - Additional Information (Detail) - Cash and Cash Equivalent and Financial Investments [member] | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of financial assets [line items] | ||
Interbank Interest Equivalent Percent | 98.83% | 100.10% |
Brazil, Brazil Real [member] | ||
Disclosure of financial assets [line items] | ||
Weighted average interest rate | 4.34% | 2.80% |
United States of America, Dollars [member] | ||
Disclosure of financial assets [line items] | ||
Weighted average interest rate | 0.54% | 0.83% |
Trade Accounts Receivable, Ne_2
Trade Accounts Receivable, Net - Summary of Trade Accounts Receivable, Net (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of trade accounts receivables [line items] | ||||
Trade accounts receivable | $ 219.7 | $ 261.9 | ||
Allowance for doubtful accounts | (30.7) | (58.5) | $ (11.1) | $ (45) |
Trade accounts receivable, net | 189 | 203.4 | ||
Foreign customers [member] | ||||
Disclosure of trade accounts receivables [line items] | ||||
Trade accounts receivable | 181.6 | 214.5 | ||
Brazilian Air Force [member] | ||||
Disclosure of trade accounts receivables [line items] | ||||
Trade accounts receivable | 10.7 | 7.4 | ||
Domestic customers [member] | ||||
Disclosure of trade accounts receivables [line items] | ||||
Trade accounts receivable | $ 27.4 | $ 40 |
Trade Accounts Receivable, Ne_3
Trade Accounts Receivable, Net - Summary of Past Due Accounts Receivable (Detail) - Financial assets past due but not impaired [member] - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of trade accounts receivables [line items] | ||
Current | $ 193.8 | $ 190.9 |
Trade accounts receivable, net | 219.7 | 261.9 |
Not later than three months [member] | ||
Disclosure of trade accounts receivables [line items] | ||
Trade accounts receivable, net | 16.4 | 20.9 |
From 91 to 180 days [member] | ||
Disclosure of trade accounts receivables [line items] | ||
Trade accounts receivable, net | 2 | 8.4 |
More than 180 days [member] | ||
Disclosure of trade accounts receivables [line items] | ||
Trade accounts receivable, net | $ 7.5 | $ 41.7 |
Trade Accounts Receivable, Ne_4
Trade Accounts Receivable, Net - Summary of Changes in Estimated Losses on Settlement (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of trade accounts receivables [line items] | |||
Beginning balance | $ (58.5) | $ (11.1) | $ (45) |
Additions | (1.8) | (57.1) | (4.4) |
Write-off | 29.4 | 15 | 7.5 |
Reclassification | 29.6 | ||
Foreign exchange variation | 0.2 | (4.9) | 0.8 |
Assets held for sale | (30) | 30 | |
Ending balance | $ (30.7) | $ (58.5) | $ (11.1) |
Derivative Financial Instrume_3
Derivative Financial Instruments - Summary of Derivative Financial Instruments (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial instrument assets and liability | $ (5.8) | $ (0.3) |
Cash flow hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial instrument assets and liability | (1.1) | 7.1 |
Fair value hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial instrument assets and liability | 0.1 | 2.1 |
Non Hedges [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial instrument assets and liability | $ (4.8) | (9.5) |
Other derivatives [member] | Currency risk [member] | Settlement 2021 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Settlement date | 2021 years | |
Currency swap contract [member] | Equity investments [member] | Currency risk [member] | Settlement 2021 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial instrument assets and liability | 7.1 | |
Currency swap contract [member] | Equity investments [member] | Currency risk [member] | Settlement 2022 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial instrument assets and liability | $ (1.1) | |
Real expenses [member] | Currency swap contract [member] | Currency risk [member] | Settlement 2021 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Settlement date | 2021 years | |
Real expenses [member] | Currency swap contract [member] | Currency risk [member] | Settlement 2021 [member] | Cash flow hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Description of financial instruments designated as hedging instruments | Zero-cost collar derivative financial instruments, with purchase of put options at the exercise price of R$ 5.20 and sale of call options at the weighted average exercise price of R$ 6.32. | |
Real expenses [member] | Currency swap contract [member] | Currency risk [member] | Settlement 2022 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Settlement date | 2022 years | |
Notional amount | $ 120.3 | |
Real expenses [member] | Currency swap contract [member] | Currency risk [member] | Settlement 2022 [member] | Cash flow hedges [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Description of financial instruments designated as hedging instruments | Zero-cost collar derivative financial instruments, with purchase of put options at the exercise price of R$ 5.20 and sale of call options at the weighted average exercise price of R$ 6.52. | |
Export financing [member] | Equity investments [member] | Interest rate risk [member] | Settlement 2023 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Settlement date | 2023 years | |
Description of financial instruments designated as hedging instruments | Interest swap to exchange floating interest debt in US Dollars for a fixed interest rate. | |
Export financing [member] | Equity investments [member] | Exchange and currency risk rate [member] | Settlement 2021 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Settlement date | 2021 years | |
Derivative financial instrument assets and liability | 1.4 | |
Description of financial instruments designated as hedging instruments | Interest rate and cross-currency swap | |
Export financing [member] | Other derivatives [member] | Interest rate risk [member] | Settlement 2027 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial instrument assets and liability | $ (4.7) | (9.7) |
Notional amount | $ 100 | |
Export financing [member] | Other derivatives [member] | Exchange and currency risk rate [member] | Settlement 2021 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial instrument assets and liability | 0.3 | |
Description of financial instruments designated as hedging instruments | Non-Deliverable Forwards to exchanges Euro currency debt to US Dollars currency. | |
Export financing [member] | Interest swap [member] | Interest rate risk [member] | Settlement 2023 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial instrument assets and liability | (0.1) | |
Project development expense [member] | Interest swap [member] | Interest rate risk [member] | Settlement 2023 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Settlement date | 2023 years | |
Derivative financial instrument assets and liability | $ 0.1 | 0.8 |
Description of financial instruments designated as hedging instruments | Interest swap to exchange fixed interest rate debt in Brazilian Reais for a floating rate CDI. | |
Notional amount | $ 13.9 | |
Acquisition of property plant and equipment [member] | Other derivatives [member] | Interest rate risk [member] | Settlement 2024 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Settlement date | 2024 years | |
Derivative financial instrument assets and liability | $ (0.1) | $ (0.1) |
Description of financial instruments designated as hedging instruments | Interest swap to exchange floating interest debt in US Dollars for a fixed interest rate. | |
Notional amount | $ 1.8 | |
Derivatives designated as hedge accounting [member] | Interest rate risk [member] | Settlement 2027 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Settlement date | 2027 years | |
Derivatives designated as hedge accounting [member] | Export financing [member] | Interest rate risk [member] | Settlement 2027 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Description of financial instruments designated as hedging instruments | Interest swap to exchange floating interest debt in US Dollars for a fixed interest rate. |
Derivative Financial Instrume_4
Derivative Financial Instruments - Summary of Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Current portion | $ 0.1 | $ 8.3 |
Non-current | 0 | 1.3 |
Liabilities | ||
Current portion | (2.9) | (1.2) |
Non-current | (3) | (8.7) |
Net derivative financial instruments | $ (5.8) | $ (0.3) |
Customer and Commercial Finan_3
Customer and Commercial Financing - Summary of Customer and Commercial Financing Maturities (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
DisclosureOfCustomerAndCommercialFinancingMaturities [Line Items] | |||
Loans And Advances To Customers Gross | $ 37.7 | $ 49 | |
Expected credit losses | (5.7) | (19.1) | |
Loans and advances to customers | 32 | 29.9 | |
Current portion | 9.6 | 8.5 | |
Non-current portion | 22.4 | 21.4 | |
Aircraft [member] | |||
DisclosureOfCustomerAndCommercialFinancingMaturities [Line Items] | |||
Loans And Advances To Customers Gross | [1] | 7.9 | 9.2 |
Spare Parts [member] | |||
DisclosureOfCustomerAndCommercialFinancingMaturities [Line Items] | |||
Loans And Advances To Customers Gross | [2] | $ 29.8 | $ 39.8 |
[1] | Aircraft: financing provided to customers related to the acquisition of used aircraft. The fair value of used aircraft provided as collateral in the used aircraft customer financing structure, which could minimize the losses in case of default (collateral assets), were considered to reduce the expected credit losses (ECL) for such transaction. | ||
[2] | Parts and services: financing provided to certain customers as a result of the COVID-19 impacts over the Commercial Aviation business related to the supply of parts and services mainly provided during the year of 2020. The terms negotiated within the renegotiation agreement establishes interest of 6% p.a. and annual principal payments until the final maturity date (2023). There is no collateral in the parts and services customer financing, however, the recurring supply of parts and services to the related customers relies on the timely payment of financings provided. |
Customer and Commercial Finan_4
Customer and Commercial Financing - Summary of Customer and Commercial Financing Maturities (Parenthetical) (Detail) - Loans to consumers [member] | 12 Months Ended |
Dec. 31, 2021 | |
DisclosureOfCustomerAndCommercialFinancingMaturities [Line Items] | |
Receivables Interest Rate | 6.00% |
Receivables Maturity Year | 2023 |
Customer and commercial finan_5
Customer and commercial financing - Summary of Changes in Expected Credit Losses Provision (Detail) - Loans to consumers [member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [Line Items] | ||
Beginning balance | $ (19.1) | $ 0 |
(Additions)/Reversal | 13.4 | 8.1 |
Reclassifications | 0 | (27.2) |
Ending balance | $ (5.7) | $ (19.1) |
Customer and commercial finan_6
Customer and commercial financing - Disclosure of Long Term Customer Financing Maturities (Detail) $ in Millions | Dec. 31, 2021USD ($) |
Disclosure of Long Term Customer Financing Maturities [Abstract] | |
2023 | $ 17.7 |
2024 | 1.5 |
2025 | 1.6 |
Thereafter 2025 | 1.6 |
Total | $ 22.4 |
Customer and commercial finan_7
Customer and commercial financing - Addtional Information (Detail) - Loans to consumers [member] - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Statement [Line Items] | |||
Allowance account for credit losses of financial assets | $ 5.7 | $ 19.1 | $ 0 |
Aircraft [member] | |||
Statement [Line Items] | |||
Allowance account for credit losses of financial assets | 0.4 | ||
Spare Parts [member] | |||
Statement [Line Items] | |||
Allowance account for credit losses of financial assets | $ 5.3 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Classes of current inventories [abstract] | |||||
Raw materials | $ 822.7 | $ 1,040.3 | |||
Work in process | 524.7 | 631.1 | |||
Spare parts | 474.3 | 576 | |||
Finished goods | 54.2 | 137.4 | |||
Held by third parties | 79.3 | 61.4 | |||
Advances to suppliers | 30.8 | 47.8 | |||
Inventory in transit | 80 | 71.8 | |||
Consumption materials | 43.5 | 52.1 | |||
Used aircraft | 28.4 | 34.7 | |||
Loss on adjustment to market value | (1) | (4.4) | |||
Loss due to obsolescence | (150.9) | (210.3) | $ (95.6) | $ (170.7) | |
Total | $ 1,986 | $ 2,437.9 | $ 1,272.8 |
Inventories - Summary of Inve_2
Inventories - Summary of Inventories (Parenthetical) (Detail) - Aircraft | Dec. 31, 2021 | Dec. 31, 2020 |
Phenom 300 [member] | ||
Disclosure of inventories [line items] | ||
Number of aircraft held in finished products inventory | 1 | 1 |
Phenom 100 [member] | ||
Disclosure of inventories [line items] | ||
Number of aircraft held in finished products inventory | 1 | 1 |
Number of aircraft held in inventory as available for sale | 1 | |
Ipanema [member] | ||
Disclosure of inventories [line items] | ||
Number of aircraft held in finished products inventory | 3 | |
Praetor 600 [Member] | ||
Disclosure of inventories [line items] | ||
Number of aircraft held in finished products inventory | 2 | 2 |
Praetor 500 [Member] | ||
Disclosure of inventories [line items] | ||
Number of aircraft held in finished products inventory | 1 | 1 |
Embraer 135 [Member] | ||
Disclosure of inventories [line items] | ||
Number of aircraft held in inventory as available for sale | 1 | |
Embraer 145 [Member] | ||
Disclosure of inventories [line items] | ||
Number of aircraft held in inventory as available for sale | 2 | |
Embraer 195 | ||
Disclosure of inventories [line items] | ||
Number of aircraft held in finished products inventory | 2 | |
Super Tucano | ||
Disclosure of inventories [line items] | ||
Number of aircraft held in finished products inventory | 1 | 1 |
Embraer 190 | ||
Disclosure of inventories [line items] | ||
Number of aircraft held in inventory as available for sale | 1 | 1 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) | Dec. 31, 2021Aircraft |
Classes of inventories [line items] | |
Number of aircraft delivered | 0 |
Inventories - Summary of Provis
Inventories - Summary of Provision Recorded for Adjustment to Realizable Value (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of Inventory Provision Recorded for Adjustments to Realizable Value [line items] | |||
Beginning balance | $ 4.4 | ||
Ending balance | 1 | $ 4.4 | |
Aircraft [member] | |||
Reconciliation of Inventory Provision Recorded for Adjustments to Realizable Value [line items] | |||
Beginning balance | (4.4) | (0.9) | $ (7.7) |
Additions | (13.9) | (17.3) | (5.2) |
Disposals | 17.3 | 14.6 | 11.2 |
Assets held for sale | 0 | (0.8) | 0.8 |
Ending balance | $ (1) | $ (4.4) | $ (0.9) |
Inventories - Schedule of Inven
Inventories - Schedule of Inventories Provision for Obsolescence (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of inventories [abstract] | ||||
Beginning balance | $ (210.3) | $ (95.6) | $ (170.7) | |
Additions | (45.6) | (42.2) | (50.3) | |
Disposals | [1] | 84 | 23.9 | 29.8 |
Reversals | 17.3 | 1.7 | ||
Foreign exchange loss | 1.6 | (3.4) | 0.9 | |
Assets held for sale | 2.1 | (94.7) | 94.7 | |
Ending balance | $ (150.9) | $ (210.3) | $ (95.6) | |
[1] | Disposals relates to obsolete materials and parts sold by the Company during the year. |
Other Assets - Summary of Other
Other Assets - Summary of Other Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Detailed Information About Other Assets [abstract] | ||
Taxes recoverable | $ 105 | $ 105.6 |
Other debtors | 73.7 | 72.8 |
Prepaid expenses | 36.2 | 36.5 |
Court-mandated escrow deposits | 24.9 | 26.8 |
Loan with a joint operation | 25.7 | 25.2 |
Advances to employees | 19.6 | 4.9 |
Advances for services to be rendered | 13.7 | 5.2 |
Collateralized accounts receivable | 9.9 | 13.9 |
Other | 10.6 | 10.7 |
Total | 319.3 | 301.6 |
Current portion | 193.7 | 180.9 |
Non-current portion | 125.6 | 120.7 |
ICMS (State Value-added Tax) and IPI (Excise Tax) | 65.7 | 69.3 |
PIS (Social Integration Program) and COFINS | 27.6 | 19.7 |
Income tax and social security on net income | 5.6 | 7.5 |
ISS (Service tax) | 4.4 | 4.6 |
Other | 1.7 | 4.5 |
Total | 105 | 105.6 |
Current portion | 37.4 | 50 |
Non-current portion | $ 67.6 | $ 55.6 |
Interest in Entities - Summary
Interest in Entities - Summary of Subsidiaries with Participation of Non-Controlling Shareholders (Detail) - USD ($) $ in Millions | Nov. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2020 |
Disclosure of subsidiaries [line items] | |||||
Embraer Group interest | 52.80% | ||||
Non-controlling interest | $ 107.1 | $ 112.6 | $ 96.9 | $ 96.9 | |
Comprehensive income | $ (130) | $ (675.9) | $ (327.8) | ||
OGMA - Industria Aeronautica de Portugal S.A. [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country | Portugal | Portugal | Portugal | ||
Embraer Group interest | 65.00% | 65.00% | 65.00% | ||
Non-controlling interest (percentage) | 35.00% | 35.00% | 35.00% | ||
Non-controlling interest | $ 54 | $ 60.5 | $ 53.9 | ||
Comprehensive income | $ (4.2) | $ 3.9 | $ 3 | ||
Embraer CAE Training Services Ltd [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country | United Kingdon | United Kingdom | |||
Embraer Group interest | 51.00% | 51.00% | |||
Non-controlling interest (percentage) | 49.00% | 49.00% | |||
Visiona Tecnologia Espacial S.A. [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country | Brazil | Brazil | Brazil | ||
Embraer Group interest | 51.00% | 51.00% | 51.00% | ||
Non-controlling interest (percentage) | 49.00% | 49.00% | 49.00% | ||
Non-controlling interest | $ 15.8 | $ 17.3 | $ 20 | ||
Comprehensive income | $ (2.4) | $ (1.7) | $ (0.5) | ||
Embraer CAE Training Services [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country | United States of America | United States of America | United States of America | ||
Embraer Group interest | 51.00% | 51.00% | 51.00% | ||
Non-controlling interest (percentage) | 49.00% | 49.00% | 49.00% | ||
Non-controlling interest | $ 27.3 | $ 22.9 | $ 23 | ||
Comprehensive income | $ 8.9 | $ 6 | $ 10.2 | ||
Tempest Servicos de Informatica SA [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country | Brazil | Brazil | |||
Embraer Group interest | 61.00% | 61.00% | |||
Non-controlling interest (percentage) | 39.00% | 39.00% | |||
Non-controlling interest | $ 10 | $ 11.9 | |||
Comprehensive income | $ (1.1) | $ 0.3 |
Interest in Entities - Addition
Interest in Entities - Additional Information (Detail) | Nov. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 52.80% | |||
Proportion of profit before taxes by other entities | 5.00% | |||
Embraer CAE Training Services Ltd. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 51.00% | |||
Visiona Tecnologia Espacial S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 51.00% | 51.00% | 51.00% | |
Embraer CAE Training Services [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Participation Embraer Group | 51.00% | 51.00% | 51.00% |
Interest in Entities - Summar_2
Interest in Entities - Summary of Financial Position of the Group Entities that have Non-Controlling Interest (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2020 | ||
Disclosure of subsidiaries [line items] | |||||
Cash and cash equivalents | [1] | $ 1,818.3 | $ 1,883.1 | $ 2,307.7 | |
Current assets | 5,875.8 | 6,115.7 | |||
Non current assets | 4,279.2 | 4,400.3 | |||
Current liabilities | 2,828.8 | 2,428.7 | |||
Non current liabilities | 4,551.2 | 5,179.8 | |||
Noncontrolling interest | 107.1 | 112.6 | 96.9 | $ 96.9 | |
Revenue | 4,197.2 | 3,771.1 | 5,462.6 | ||
Net income/loss for the year | (43.5) | (728.3) | (316.5) | ||
OGMA - Industria Aeronautica de Portugal S.A. [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Cash and cash equivalents | 38.8 | 67.8 | |||
Current assets | 194.1 | 217.9 | |||
Non current assets | 65.4 | 64.4 | |||
Current liabilities | 99.4 | 109.1 | |||
Non current liabilities | 5.9 | 0.4 | |||
Noncontrolling interest | 54 | 60.5 | 53.9 | ||
Revenue | 244.7 | 287.1 | 277.5 | ||
Net income/loss for the year | $ (4.2) | $ 3.9 | $ 3 | ||
[1] | Cash and cash equivalents excludes bank overdrafts of US$ 1.5 as of March 31, 2020. |
Business combination - Addition
Business combination - Additional Information (Detail) - USD ($) $ in Millions | Nov. 30, 2020 | Dec. 31, 2021 | Nov. 30, 2021 |
Disclosure of detailed information about business combination [line items] | |||
Proportion of ownership interest in subsidiary | 52.80% | ||
Tempest | |||
Disclosure of detailed information about business combination [line items] | |||
Proportion of ownership interest in subsidiary | 8.40% | ||
Contingent consideration recognised as of acquisition date | $ 0.4 | ||
lock-up period | 4 years | ||
Consideration transferred, acquisition-date fair value | $ 22.1 | ||
Tempest | Top of range [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Proportion of ownership interest in subsidiary | 61.20% |
Related Parties - Summary of Ba
Related Parties - Summary of Balances and Transactions With Related Parties (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of transactions between related parties [line items] | |||
Current assets | $ 5,875.8 | $ 6,115.7 | |
Current liabilities | 2,828.8 | 2,428.7 | |
Non-current assets | 4,279.2 | 4,400.3 | |
Non-current liabilities | 4,551.2 | 5,179.8 | |
Financial results | (43.5) | (728.3) | $ (316.5) |
Operating results | 201.3 | (323.4) | (77) |
Related parties [member] | |||
Disclosure of transactions between related parties [line items] | |||
Current assets | 468.5 | 426.1 | |
Current liabilities | 176 | 229.5 | |
Non-current assets | 20.9 | 20.1 | |
Non-current liabilities | 334.5 | 385.7 | |
Financial results | (8.7) | (3.8) | (5.7) |
Operating results | (52.7) | (47.7) | (51.7) |
Related parties [member] | Banco do Brasil S.A. [member] | |||
Disclosure of transactions between related parties [line items] | |||
Current assets | 50.6 | 45.2 | |
Current liabilities | 0.4 | ||
Non-current liabilities | 50.3 | ||
Financial results | (1.8) | (1.3) | 1.1 |
Related parties [member] | Banco Nacional De Desenvolvimento Econmico e Social BNDES [member] | |||
Disclosure of transactions between related parties [line items] | |||
Current liabilities | 1.4 | 1.2 | |
Non-current liabilities | 300.5 | 300.6 | |
Financial results | (6.2) | (2.4) | (5.1) |
Related parties [member] | Brazilian Air Force [member] | |||
Disclosure of transactions between related parties [line items] | |||
Current assets | 410.3 | 372.3 | |
Current liabilities | 153.2 | 190.2 | |
Operating results | (42) | (34) | (35.9) |
Related parties [member] | Brazilian Army [member] | |||
Disclosure of transactions between related parties [line items] | |||
Current assets | 2.4 | 1.7 | |
Current liabilities | 1.6 | 9 | |
Operating results | 3.3 | 1.5 | 6.8 |
Related parties [member] | Embraer Prev Sociedade De Previdncia Complementar [member] | |||
Disclosure of transactions between related parties [line items] | |||
Current liabilities | 4.2 | 4.5 | |
Operating results | (12) | (12) | (19.7) |
Related parties [member] | Ez Air Interior Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Current assets | 4.8 | 5.1 | |
Current liabilities | 4.8 | 5.1 | |
Non-current assets | 20.9 | 20.1 | |
Non-current liabilities | 20.9 | 20.1 | |
Related parties [member] | Financiadora De EstudoE Projetos FINEP [member] | |||
Disclosure of transactions between related parties [line items] | |||
Current liabilities | 8.2 | 8.8 | |
Non-current liabilities | 5.9 | 14.7 | |
Financial results | (0.7) | (0.1) | (1.7) |
Related parties [member] | F I P Aeroespacial [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Non-current liabilities | 7.2 | ||
Related parties [member] | Marinha Do Brasil [member] | |||
Disclosure of transactions between related parties [line items] | |||
Current assets | 0.4 | 1.8 | |
Current liabilities | 2.6 | 10.3 | |
Operating results | $ (2) | $ (3.2) | $ (2.9) |
Related Parties - Additional In
Related Parties - Additional Information (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Brazilian Air Force [member] | KC Three Hundred And Ninety Millennium [Member] | |
Disclosure of transactions between related parties [line items] | |
Revenue cumulative adjustment recognised as a result of contract modification for scope reduction in the sales order | $ 40.9 |
Brazilian development bank [member] | |
Disclosure of transactions between related parties [line items] | |
Percentage of shares owned by stakeholders | 5.37% |
Related Parties - Summary of Re
Related Parties - Summary of Remuneration of Key Management Personnel (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure Of Remuneration Of Key Management Personnel [abstract] | ||||
Short-term benefits | [1] | $ 6.1 | $ 5.8 | $ 9 |
Share based payment | [2] | 2.4 | (1.7) | 3.2 |
Labor contract termination | 0 | 0.5 | 1.2 | |
Total | $ 8.5 | $ 4.6 | $ 13.4 | |
[1] | Includes wages, salaries, profit sharing, bonuses and indemnities distributed to the key management personnel, which are settled in Brazilian Reais. | |||
[2] | Accounts payable were reduced in 2020 and increased in 2021 due to the Company’s shares price changes in these periods end, which is applied to measure the share-based payment plan settled in cash, as disclosed in Note 29. |
Property, plant and equipment-D
Property, plant and equipment-Disclosure of Detailed Information about Useful Lives for the Depreciation of Fixed Assets (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Buildings and improvements | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 30 months |
Buildings and improvements | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 60 months |
Installations | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 10 months |
Installations | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 50 months |
Machinery and equipment | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 10 months |
Machinery and equipment | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 40 months |
Furniture and fixtures [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 5 months |
Furniture and fixtures [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 30 months |
Vehicles [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 10 months |
Vehicles [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 15 months |
Aircraft [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 4 months |
Aircraft [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 20 months |
Computers and peripherals | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 2 months |
Computers and peripherals | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 10 months |
Tooling | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 5 months |
Tooling | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 29 months |
Exchange pool program assets | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 8 months |
Exchange pool program assets | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated Useful Life for the depreciation of Fixed Assets | 30 months |
Property, Plant and Equipment -
Property, Plant and Equipment - Summary of Property Plant and Equipment (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | $ 1,956 | $ 968.9 | $ 1,964.7 |
Ending balance | 1,687.6 | 1,956 | 968.9 |
Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 3,385.5 | 2,009.4 | 3,654.8 |
Additions | 101.7 | 102.3 | 284.5 |
Additions - business combination | 2 | ||
Disposals | (71.7) | (43) | (189.9) |
Impairment | 13.8 | 1.3 | (20.5) |
Reclassifications | (23.1) | (56.8) | (62.1) |
Translation adjustments | (41.9) | 36.5 | (8.8) |
Assets held for sale | (244) | 1,333.8 | (1,648.6) |
Ending balance | 3,120.3 | 3,385.5 | 2,009.4 |
Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (1,429.5) | (1,040.5) | (1,690.1) |
Depreciation - business combination | (0.8) | ||
Depreciation | (108) | (152.3) | (103.4) |
Disposals | 37 | 18 | 161.9 |
Impairment | (2.6) | ||
Reclassifications | 1.1 | 0.4 | 28.6 |
Interest on capitalized assets | (1.1) | (1.1) | (1.6) |
Translation adjustments | 13.4 | (9.1) | 5.2 |
Assets held for sale | (244.1) | ||
Assets held for sale | 57 | 558.9 | |
Ending balance | (1,432.7) | (1,429.5) | (1,040.5) |
Land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 11 | 5.1 | 11 |
Ending balance | 10.2 | 11 | 5.1 |
Land [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 11 | 5.1 | 11 |
Additions | 0.4 | ||
Disposals | (0.4) | ||
Assets held for sale | (0.8) | 6.3 | (6.3) |
Ending balance | 10.2 | 11 | 5.1 |
Buildings and improvements [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 536.8 | 327.6 | 530.7 |
Ending balance | 473.7 | 536.8 | 327.6 |
Buildings and improvements [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 716.9 | 459.2 | 750.1 |
Additions | 0.6 | 1.3 | 5.3 |
Additions - business combination | 0.8 | ||
Disposals | (14.9) | (8.5) | (8.3) |
Reclassifications | 21.2 | 26.6 | 30.3 |
Translation adjustments | (2.6) | 1 | (0.6) |
Assets held for sale | (64.3) | 236.5 | (317.6) |
Ending balance | 656.9 | 716.9 | 459.2 |
Buildings and improvements [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (180.1) | (131.6) | (219.4) |
Depreciation - business combination | (0.2) | ||
Depreciation | (20.9) | (28.7) | (15.2) |
Disposals | 5.1 | 1.9 | 7.4 |
Reclassifications | (2.9) | ||
Interest on capitalized assets | (1.1) | (1.1) | (1.6) |
Translation adjustments | 1 | 0.1 | (1.5) |
Assets held for sale | 12.8 | (20.5) | 101.6 |
Ending balance | (183.2) | (180.1) | (131.6) |
Installations [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 59.8 | 34.5 | 56.8 |
Ending balance | 53.6 | 59.8 | 34.5 |
Installations [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 93.6 | 60.1 | 162.4 |
Disposals | (0.1) | (3.7) | |
Reclassifications | 0.5 | 3.2 | 6.3 |
Translation adjustments | (0.6) | 0.6 | (0.1) |
Assets held for sale | (5.1) | 29.8 | (104.8) |
Ending balance | 88.4 | 93.6 | 60.1 |
Installations [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (33.8) | (25.6) | (105.6) |
Depreciation | (2.5) | (4.1) | (3.7) |
Disposals | 0.1 | 4.8 | |
Reclassifications | 2.8 | ||
Translation adjustments | 0.2 | (0.1) | |
Assets held for sale | 1.3 | (4.1) | 76.1 |
Ending balance | (34.8) | (33.8) | (25.6) |
Machinery and equipment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 458.8 | 180.3 | 454.3 |
Ending balance | 333.8 | 458.8 | 180.3 |
Machinery and equipment [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 881 | 481.8 | 972.4 |
Additions | 13.1 | 14.2 | 43.6 |
Additions - business combination | 0.1 | ||
Disposals | (14.2) | (8.4) | (60.2) |
Impairment | 12.4 | 1.6 | (14.1) |
Reclassifications | 6 | 15.2 | 11.3 |
Translation adjustments | (7.8) | 8.5 | (1.9) |
Assets held for sale | (162.7) | 368 | (469.3) |
Ending balance | 727.8 | 881 | 481.8 |
Machinery and equipment [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (422.2) | (301.5) | (518.1) |
Depreciation - business combination | (0.1) | ||
Depreciation | (30.7) | (50.9) | (32.9) |
Disposals | 13.9 | 7.1 | 67.7 |
Impairment | (2.3) | ||
Reclassifications | 5.6 | ||
Translation adjustments | 6.3 | (6.2) | 1.4 |
Assets held for sale | 41 | (70.6) | 174.8 |
Ending balance | (394) | (422.2) | (301.5) |
Furniture and fixtures [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 23.2 | 16.6 | 29.6 |
Ending balance | 16.4 | 23.2 | 16.6 |
Furniture and fixtures [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 49 | 38.1 | 74.2 |
Additions | 0.6 | 0.5 | 5.6 |
Additions - business combination | 0.2 | ||
Disposals | (2.7) | (1) | (22.4) |
Reclassifications | 0.5 | (1.4) | |
Translation adjustments | (0.4) | 0.1 | (0.1) |
Assets held for sale | (0.5) | 11.1 | (17.8) |
Ending balance | 46.5 | 49 | 38.1 |
Furniture and fixtures [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (25.8) | (21.5) | (44.6) |
Depreciation - business combination | (0.1) | ||
Depreciation | (7.3) | (2.8) | (4.6) |
Disposals | 2.6 | 0.7 | 19.1 |
Translation adjustments | 0.3 | (0.1) | (0.1) |
Assets held for sale | 0.1 | (2) | 8.7 |
Ending balance | (30.1) | (25.8) | (21.5) |
Vehicles [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 2.8 | 1.9 | 3.5 |
Ending balance | 2.5 | 2.8 | 1.9 |
Vehicles [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 12.3 | 10.4 | 17.3 |
Additions | 0.3 | 0.2 | 0.6 |
Disposals | (0.4) | (0.4) | (3) |
Reclassifications | 0.1 | 0.1 | |
Translation adjustments | (0.3) | 0.3 | (0.1) |
Assets held for sale | 1.8 | (4.5) | |
Ending balance | 12 | 12.3 | 10.4 |
Vehicles [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (9.5) | (8.5) | (13.8) |
Depreciation | (0.7) | (0.9) | (1) |
Disposals | 0.4 | 0.4 | 3.3 |
Translation adjustments | 0.3 | (0.3) | 0.1 |
Assets held for sale | (0.2) | 2.9 | |
Ending balance | (9.5) | (9.5) | (8.5) |
Aircraft [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 1.3 | 10.6 | 37.5 |
Ending balance | 0.8 | 1.3 | 10.6 |
Aircraft [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 23.7 | 14.7 | 76.2 |
Additions | 31.7 | ||
Impairment | (0.8) | (4.6) | |
Reclassifications | (38.4) | (40.4) | |
Assets held for sale | 48.2 | (48.2) | |
Ending balance | 23.7 | 23.7 | 14.7 |
Aircraft [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (22.4) | (4.1) | (38.7) |
Depreciation | (0.5) | (1.5) | (1.3) |
Reclassifications | 2.2 | 16.9 | |
Assets held for sale | (19) | 19 | |
Ending balance | (22.9) | (22.4) | (4.1) |
Computers and peripherals [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 13.4 | 12.8 | 35.5 |
Ending balance | 8.7 | 13.4 | 12.8 |
Computers and peripherals [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 121.1 | 101.5 | 190 |
Additions | 0.9 | 1.4 | 5 |
Additions - business combination | 0.9 | ||
Disposals | (3.2) | (4) | (45.4) |
Reclassifications | 0.7 | (6.6) | |
Translation adjustments | (1.1) | (0.2) | |
Assets held for sale | (2) | 21.3 | (41.3) |
Ending balance | 116.4 | 121.1 | 101.5 |
Computers and peripherals [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (107.7) | (88.7) | (154.5) |
Depreciation - business combination | (0.4) | ||
Depreciation | (5.7) | (11.2) | (7) |
Disposals | 3 | 1.1 | 42.5 |
Reclassifications | 1.7 | ||
Translation adjustments | 0.9 | (0.1) | 0.2 |
Assets held for sale | (8.4) | ||
Assets held for sale | 1.8 | 28.4 | |
Ending balance | (107.7) | (107.7) | (88.7) |
Tooling [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 257.8 | 91.2 | 257.6 |
Ending balance | 255.7 | 257.8 | 91.2 |
Tooling [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 655.6 | 443.8 | 629.1 |
Additions | 5.2 | 11.4 | 28.2 |
Disposals | (0.4) | (1.6) | (26.1) |
Impairment | 1.4 | 0.5 | (1.8) |
Reclassifications | 10.4 | 37 | 7 |
Assets held for sale | 164.5 | (192.6) | |
Ending balance | 672.2 | 655.6 | 443.8 |
Tooling [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (397.8) | (352.6) | (371.5) |
Depreciation | (18.6) | (37) | (25.2) |
Disposals | 0.2 | 0.6 | 7.3 |
Impairment | (0.3) | ||
Translation adjustments | (0.1) | ||
Assets held for sale | (8.8) | ||
Assets held for sale | 36.9 | ||
Ending balance | (416.5) | (397.8) | (352.6) |
Other assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 7.1 | 16.2 | |
Ending balance | 7.1 | ||
Other assets [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 18.4 | 25.5 | 27.6 |
Additions | 0.1 | 10.3 | |
Disposals | (0.1) | (1) | |
Reclassifications | (10.8) | (7.6) | |
Assets held for sale | 3.8 | (3.8) | |
Ending balance | 18.5 | 18.4 | 25.5 |
Other assets [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (18.4) | (18.4) | (11.4) |
Depreciation | (0.1) | ||
Disposals | 0.3 | ||
Reclassifications | (7.3) | ||
Ending balance | (18.5) | (18.4) | (18.4) |
Exchange pool program assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 525.7 | 233 | 438.3 |
Ending balance | 497 | 525.7 | 233 |
Exchange pool program assets [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 737.5 | 321 | 650.8 |
Additions | 62.4 | 51.2 | 91.8 |
Disposals | (35.9) | (16.9) | (19) |
Reclassifications | (23.2) | (18.2) | (21.8) |
Translation adjustments | (28.3) | 25.6 | (6.1) |
Assets held for sale | 374.8 | (374.7) | |
Ending balance | 712.5 | 737.5 | 321 |
Exchange pool program assets [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (211.8) | (88) | (212.5) |
Depreciation | (21) | (15.2) | (12.5) |
Disposals | 11.8 | 6.1 | 9.5 |
Reclassifications | 1.1 | (1.8) | 11.8 |
Translation adjustments | 4.4 | (2.4) | 5.2 |
Assets held for sale | (110.5) | ||
Assets held for sale | 110.5 | ||
Ending balance | (215.5) | (211.8) | (88) |
Construction in progress [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 65.4 | 48.2 | 93.7 |
Ending balance | 35.2 | 65.4 | 48.2 |
Construction in progress [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 65.4 | 48.2 | 93.7 |
Additions | 18.5 | 22.1 | 62 |
Disposals | (1.6) | (0.8) | |
Reclassifications | (39.3) | (71.4) | (39.3) |
Translation adjustments | (0.8) | 0.4 | 0.3 |
Assets held for sale | (8.6) | 67.7 | (67.7) |
Ending balance | $ 35.2 | $ 65.4 | $ 48.2 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Additional Information (Detail) $ in Millions | Dec. 31, 2021USD ($) |
Legal Demand | |
Statement [Line Items] | |
Fixed Assets Pledged as Collateral of Legal Demands | $ 0.2 |
Assets held for sale - Summary
Assets held for sale - Summary of assets and liabilities held for sale (Detail) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Assets Held For Sale [Abstract] | ||||||
Cash and cash equivalents | [1] | $ 1,818.3 | $ 1,883.1 | $ 2,307.7 | ||
Inventories | 1,986 | 2,437.9 | $ 1,272.8 | |||
Guarantee deposits | 0.6 | 0.2 | ||||
Income tax and social contribution | 114.5 | 114.1 | ||||
Other assets | 193.7 | 180.9 | ||||
Deferred income tax and social contribution | 97.6 | 104.6 | ||||
Property, plant and equipment, net | 1,687.6 | 1,956 | 968.9 | $ 1,964.7 | ||
Intangible assets | 2,213.4 | 2,075.6 | $ 894.1 | $ 1,898.8 | ||
TOTAL | 230.9 | |||||
Liabilities Held For Sale [Abstract] | ||||||
Trade accounts payable | 495.2 | 502.3 | ||||
Other payables | 241.3 | 249.9 | ||||
Taxes and payroll charges payable | 40.4 | 71.9 | ||||
Unearned income | 2.5 | 0.5 | ||||
Current Liabilities | 2,783.7 | $ 2,428.7 | ||||
TOTAL | 45.1 | |||||
Assets and liabilities classified as held for sale [member] | ||||||
Assets Held For Sale [Abstract] | ||||||
Cash and cash equivalents | 20.3 | |||||
Trade accounts receivable, net | 0.9 | |||||
Inventories | 59 | |||||
Guarantee deposits | 0.2 | |||||
Income tax and social contribution | 0.5 | |||||
Other assets | 6.3 | |||||
Deferred income tax and social contribution | 1.7 | |||||
Property, plant and equipment, net | [2] | 141.9 | ||||
Intangible assets | 0.1 | |||||
TOTAL | 230.9 | |||||
Liabilities Held For Sale [Abstract] | ||||||
Trade accounts payable | 13.7 | |||||
Other payables | 2.5 | |||||
Taxes and payroll charges payable | 0.4 | |||||
Unearned income | 28.5 | |||||
Current Liabilities | 45.1 | |||||
Net assets to be disposed | 185.8 | |||||
TOTAL | $ 230.9 | |||||
[1] | Cash and cash equivalents excludes bank overdrafts of US$ 1.5 as of March 31, 2020. | |||||
[2] | Property, plant and equipment included in the assets held for sale (US$ 187.0) is presented net of impairment losses in the amount of US$ 45.1 measured based on the fair value less cost to sell. |
Assets Held For Sale - Summar_2
Assets Held For Sale - Summary of Assets and Liabilities Held for Sale (Parenthetical) (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Assets And Liabilities Held For Sale [Line Items] | ||||
Property, plant and equipment | $ 1,687.6 | $ 1,956 | $ 968.9 | $ 1,964.7 |
Non-current assets held for sale [member] | ||||
Disclosure Of Assets And Liabilities Held For Sale [Line Items] | ||||
Property, plant and equipment | 187 | |||
Impairment losses, property plant and equipment | $ 45.1 |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets Internally Developed and Acquired From Third Party (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | $ 2,075.6 | $ 894.1 | $ 1,898.8 |
Ending balance | 2,213.4 | 2,075.6 | 894.1 |
Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 2,999.6 | 1,653.3 | 3,740.2 |
Additions | 166.5 | 121.4 | 283.3 |
Additions -business combination | 31 | ||
Contributions from suppliers | (4.5) | ||
Disposals | (1.1) | (2.5) | (2) |
Impairment | 53.1 | (2.9) | (55.6) |
Interest on capitalized assets | 0.4 | 0.9 | 6.8 |
Assets held for sale | (0.8) | 1,200.6 | (2,314.5) |
Translation adjustments | (3.9) | (2.2) | (0.4) |
Ending balance | 3,213.8 | 2,999.6 | 1,653.3 |
Accumulated amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (924) | (759.2) | (1,841.4) |
Amortization | (86.6) | (128.5) | (95.9) |
Amortization -business combination | (1.2) | ||
Amortization of contribution from supplier | 10.1 | 8.3 | 22.4 |
Disposals | 1 | 1.7 | 1.2 |
Impairment | (2.3) | ||
Interest on capitalized assets | (1.3) | (1.1) | (2.4) |
Assets held for sale | 0.7 | (43.1) | 1,156.9 |
Translation adjustments | 2 | (0.9) | |
Ending balance | (1,000.4) | (924) | (759.2) |
Defense and Security [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 8.4 | ||
Ending balance | 11.8 | 8.4 | |
All Other Segments [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 155 | ||
Ending balance | 182.7 | 155 | |
Internally generated [member] | Commercial [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 1,065.5 | 0 | 862.7 |
Ending balance | 1,154.1 | 1,065.5 | 0 |
Internally generated [member] | Commercial [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 1,126 | 0 | 1,916.3 |
Additions | 108.2 | 63.3 | 188.2 |
Contributions from suppliers | (4.5) | ||
Interest on capitalized assets | 0 | 4.9 | |
Assets held for sale | 0 | 1,062.7 | (2,104.9) |
Ending balance | 1,234.2 | 1,126 | 0 |
Internally generated [member] | Commercial [member] | Accumulated amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (60.5) | 0 | (1,053.6) |
Amortization | (19.6) | (46.6) | (3.1) |
Amortization of contribution from supplier | 0 | 1 | |
Interest on capitalized assets | 0 | 0 | |
Assets held for sale | 0 | (13.9) | 1,055.7 |
Ending balance | (80.1) | (60.5) | 0 |
Internally generated [member] | Executive [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 750.8 | 742.2 | 829 |
Ending balance | 788.4 | 750.8 | 742.2 |
Internally generated [member] | Executive [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 1,339.8 | 1,292.3 | 1,341.2 |
Additions | 16.6 | 13.5 | 31.3 |
Impairment | 49 | 6.6 | (55.6) |
Interest on capitalized assets | 0.4 | 0.9 | 1.9 |
Assets held for sale | 0 | 26.5 | (26.5) |
Ending balance | 1,405.8 | 1,339.8 | 1,292.3 |
Internally generated [member] | Executive [member] | Accumulated amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (589) | (550.1) | (512.2) |
Amortization | (34.9) | (28.3) | (75.1) |
Amortization of contribution from supplier | 10.1 | 8.3 | 21.4 |
Impairment | (2.3) | ||
Interest on capitalized assets | (1.3) | (1.1) | (2.4) |
Assets held for sale | 0 | (17.8) | 18.2 |
Ending balance | (617.4) | (589) | (550.1) |
Internally generated [member] | Defense and Security [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 8.5 | 16.5 | 11 |
Ending balance | 11.9 | 8.5 | 16.5 |
Internally generated [member] | Defense and Security [Member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 52 | 49.3 | 43.4 |
Additions | 3.8 | 2.7 | 5.9 |
Ending balance | 55.8 | 52 | 49.3 |
Internally generated [member] | Defense and Security [Member] | Accumulated amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (43.5) | (32.8) | (32.4) |
Amortization | (0.4) | (10.7) | (0.4) |
Ending balance | (43.9) | (43.5) | (32.8) |
Internally generated [member] | All Other Segments [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 3.1 | 2.3 | 2.3 |
Ending balance | 2.8 | 3.1 | 2.3 |
Internally generated [member] | All Other Segments [Member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 4.6 | 3.6 | 3.5 |
Additions | 0 | 1 | 0.1 |
Ending balance | 4.6 | 4.6 | 3.6 |
Internally generated [member] | All Other Segments [Member] | Accumulated amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (1.5) | (1.3) | (1.2) |
Amortization | (0.3) | (0.2) | (0.1) |
Ending balance | (1.8) | (1.5) | (1.3) |
Not internally generated [member] | Development [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 7.1 | 5.7 | 3.4 |
Ending balance | 8.2 | 7.1 | 5.7 |
Not internally generated [member] | Development [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 10.7 | 9.4 | 6.3 |
Additions | 1.6 | 1.8 | 3.1 |
Disposals | 0 | (0.6) | |
Translation adjustments | (0.5) | 0.1 | |
Ending balance | 11.8 | 10.7 | 9.4 |
Not internally generated [member] | Development [member] | Accumulated amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (3.6) | (3.7) | (2.9) |
Amortization | 0 | 0 | (0.8) |
Disposals | 0 | 0.1 | |
Ending balance | (3.6) | (3.6) | (3.7) |
Not internally generated [member] | Computer software [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 95.7 | 48.1 | 117.5 |
Ending balance | 76.4 | 95.7 | 48.1 |
Not internally generated [member] | Computer software [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 308.1 | 213.7 | 350.3 |
Additions | 6.3 | 3.1 | 19.3 |
Additions -business combination | 9.4 | ||
Disposals | (1.1) | (1.9) | (2) |
Assets held for sale | (0.8) | 82.2 | (153.9) |
Translation adjustments | (1.9) | 1.6 | |
Ending balance | 310.6 | 308.1 | 213.7 |
Not internally generated [member] | Computer software [member] | Accumulated amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (212.4) | (165.6) | (232.8) |
Amortization | (25.1) | (38.1) | (14.4) |
Disposals | 1 | 1.6 | 1.2 |
Assets held for sale | 0.7 | (8.8) | 80.4 |
Translation adjustments | 1.6 | (1.5) | |
Ending balance | (234.2) | (212.4) | (165.6) |
Not internally generated [member] | Goodwill [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 21.7 | 10 | 10.4 |
Ending balance | 21.4 | 21.7 | 10 |
Not internally generated [member] | Goodwill [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 21.7 | 10 | 10.4 |
Additions -business combination | 13.8 | ||
Translation adjustments | (0.3) | (2.1) | (0.4) |
Ending balance | 21.4 | 21.7 | 10 |
Not internally generated [member] | Goodwill [member] | Accumulated amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 0 | ||
Ending balance | 0 | ||
Not internally generated [member] | Other intangible assets [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 123.2 | 69.3 | 62.5 |
Ending balance | 150.2 | 123.2 | 69.3 |
Not internally generated [member] | Other intangible assets [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 136.7 | 75 | 68.8 |
Additions | 30 | 36 | 35.4 |
Additions -business combination | 7.8 | ||
Impairment | 4.1 | (9.5) | |
Assets held for sale | 0 | 29.2 | (29.2) |
Translation adjustments | (1.2) | (1.8) | |
Ending balance | 169.6 | 136.7 | 75 |
Not internally generated [member] | Other intangible assets [member] | Accumulated amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (13.5) | (5.7) | (6.3) |
Amortization | (6.3) | (4.6) | (2) |
Amortization -business combination | (1.2) | ||
Assets held for sale | 0 | (2.6) | 2.6 |
Translation adjustments | 0.4 | 0.6 | |
Ending balance | $ (19.4) | $ (13.5) | $ (5.7) |
Impairment of assets - Disclosu
Impairment of assets - Disclosure of impairment loss and reversal of impairment loss (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Operating segments [member] | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |
Impairment loss,opening | $ 64.2 |
Impairment loss,closing | 5.4 |
Operating segments [member] | Defence And Security [member] | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |
Impairment loss,opening | 3.8 |
Impairment loss,closing | 5.4 |
Operating segments [member] | Executive Aviation [member] | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |
Impairment loss,opening | 60.4 |
Impairment loss,closing | 0 |
Allocation of impairment losses [member] | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |
Impairment loss,opening | 64.2 |
Impairment loss,closing | 5.4 |
Allocation of impairment losses [member] | Internally generated [member] | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |
Impairment loss,opening | 51.4 |
Impairment loss,closing | 5.4 |
Allocation of impairment losses [member] | Machinery and equipment [member] | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |
Impairment loss,opening | 11.3 |
Impairment loss,closing | 0 |
Allocation of impairment losses [member] | Tooling [member] | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |
Impairment loss,opening | 1.5 |
Impairment loss,closing | 0 |
Individual assets or cash-generating units [member] | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |
Impairment loss,opening | 64.2 |
Additions | 1.6 |
Reversal | (57.9) |
Amortization | (2.5) |
Impairment loss,closing | 5.4 |
Individual assets or cash-generating units [member] | Mid-Size / Super Mid-Size Platform [member] | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |
Impairment loss,opening | 60.4 |
Additions | 0 |
Reversal | (57.9) |
Amortization | (2.5) |
Impairment loss,closing | 0 |
Individual assets or cash-generating units [member] | Satellites [member] | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |
Additions | 1.6 |
Impairment loss,closing | $ 5.4 |
Impairment of assets - Disclo_2
Impairment of assets - Disclosure Of Detailed Information About Sensitivity Analysis Of Impairment Test (Detail) | 12 Months Ended |
Dec. 31, 2021Aircraft | |
Statement [Line Items] | |
Factor | 5.5805 |
Useful Life [Member] | |
Statement [Line Items] | |
Sensitivity | 5.00% |
Useful Life [Member] | Mid-Size / Super Mid-Size Platform [member] | |
Statement [Line Items] | |
Sensitivity | 5.00% |
Useful Life [Member] | KC390 Millennium Platform [Member] | |
Statement [Line Items] | |
Sensitivity | 5.00% |
Discount rate [Member] | |
Statement [Line Items] | |
Factor | 10.70% |
Sensitivity | 1.00% |
Discount rate [Member] | Mid-Size / Super Mid-Size Platform [member] | |
Statement [Line Items] | |
Factor | 10.70% |
Sensitivity | 1.00% |
Discount rate [Member] | KC390 Millennium Platform [Member] | |
Statement [Line Items] | |
Factor | 10.70% |
Sensitivity | 1.00% |
Foreign exchange rate [Member] | |
Statement [Line Items] | |
Factor | 5.5805 |
Sensitivity | 10.00% |
Foreign exchange rate [Member] | Mid-Size / Super Mid-Size Platform [member] | |
Statement [Line Items] | |
Factor | 5.5805 |
Sensitivity | 10.00% |
Foreign exchange rate [Member] | KC390 Millennium Platform [Member] | |
Statement [Line Items] | |
Factor | 5.5805 |
Sensitivity | 10.00% |
Platform [Member] | |
Statement [Line Items] | |
Impact in impairment test | Negative changes of 5% in the estimated volume of deliveries would cause impairment losses of US$ 10 |
Platform [Member] | Mid-Size / Super Mid-Size Platform [member] | |
Statement [Line Items] | |
Impact in impairment test | Negative changes of 5% in the estimated volume of deliveries would cause reduction in the CGU headroom from US$ 107 to US$ 27 |
Platform [Member] | KC390 Millennium Platform [Member] | |
Statement [Line Items] | |
Assumption | Estimated aircraft deliveries during the useful life of platform up to 2041 and keeping current market share |
Impact in impairment test | Negative changes of 5% in the estimated volume of deliveries would cause reduction in the CGU headroom from US$ 260 to US$ 231 |
Increase In One Pp [Member] | |
Statement [Line Items] | |
Impact in impairment test | Increase of 100bps in the discount rate would cause impairment losses of US$ 114 |
Increase In One Pp [Member] | Mid-Size / Super Mid-Size Platform [member] | |
Statement [Line Items] | |
Impact in impairment test | Increase of 100bps in the discount rate would cause reduction in the CGU headroom from US$ 107 to US$ 39 |
Increase In One Pp [Member] | KC390 Millennium Platform [Member] | |
Statement [Line Items] | |
Impact in impairment test | Increase of 100bps in the discount rate would cause reduction in the CGU headroom from US$ 260 to US$ 240 |
Reduction In Foreign Exchange Rate [Member] | |
Statement [Line Items] | |
Impact in impairment test | Reduction of 10% in foreign exchange rate (US$/R$) would cause impairment losses of US$ 179 |
Reduction In Foreign Exchange Rate [Member] | Mid-Size / Super Mid-Size Platform [member] | |
Statement [Line Items] | |
Impact in impairment test | Reduction of 10% in foreign exchange rate (US$/R$) would cause reduction in the CGU headroom from US$ 107 to US$ 59 |
Reduction In Foreign Exchange Rate [Member] | KC390 Millennium Platform [Member] | |
Statement [Line Items] | |
Impact in impairment test | Reduction of 10% in foreign exchange rate (US$/R$) would cause reduction in the CGU headroom from US$ 260 to US$ 241 |
Impairment of assets - Disclo_3
Impairment of assets - Disclosure Of Detailed Information About Sensitivity Analysis Of Impairment Test (Detail) (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2021 |
Increase of 100 bps [Member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | $ 114 | |
Increase of 100 bps [Member] | Mid-Size / Super Mid-Size Platform [member] | Bottom of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | 39 | |
Increase of 100 bps [Member] | Mid-Size / Super Mid-Size Platform [member] | Top of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | 107 | |
Increase of 100 bps [Member] | KC390 Millennium Platform [Member] | Bottom of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | 240 | |
Increase of 100 bps [Member] | KC390 Millennium Platform [Member] | Top of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | 260 | |
Reduction In Foreign Exchange Rate [Member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | 179 | |
Reduction In Foreign Exchange Rate [Member] | Mid-Size / Super Mid-Size Platform [member] | Bottom of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | 59 | |
Reduction In Foreign Exchange Rate [Member] | Mid-Size / Super Mid-Size Platform [member] | Top of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | 107 | |
Reduction In Foreign Exchange Rate [Member] | KC390 Millennium Platform [Member] | Bottom of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | 241 | |
Reduction In Foreign Exchange Rate [Member] | KC390 Millennium Platform [Member] | Top of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | 260 | |
Platform [Member] | ||
Statement [Line Items] | ||
Description of useful life, property, plant and equipment | Estimated aircraft deliveries during the useful life of platform up to 2045 and keeping current market share | |
Increase Decrease In Impairment Loss | $ 10 | |
Platform [Member] | Mid-Size / Super Mid-Size Platform [member] | ||
Statement [Line Items] | ||
Description of useful life, property, plant and equipment | Estimated aircraft deliveries during the useful life of platform up to 2050 and keeping current market share | |
Platform [Member] | Mid-Size / Super Mid-Size Platform [member] | Bottom of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | $ 27 | |
Platform [Member] | Mid-Size / Super Mid-Size Platform [member] | Top of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | $ 107 | |
Platform [Member] | KC390 Millennium Platform [Member] | ||
Statement [Line Items] | ||
Description of useful life, property, plant and equipment | Estimated aircraft deliveries during the useful life of platform up to 2041 and keeping current market share | |
Platform [Member] | KC390 Millennium Platform [Member] | Bottom of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | $ 231 | |
Platform [Member] | KC390 Millennium Platform [Member] | Top of range [member] | ||
Statement [Line Items] | ||
Increase Decrease In Impairment Loss | $ 260 |
Impairment of assets - Addition
Impairment of assets - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [Line Items] | ||
Weighted average capital cost rate | 10.70% | 10.50% |
Description Of Valuation Factor Used In Impairment Test | 5.5805 | |
Decrease in Foreign Exchange Rate Percent | 7.00% | |
Bottom of range [member] | Other Cash Generating Units [Member] | ||
Statement [Line Items] | ||
Percentage Of Value In Use | 50.00% | |
Top of range [member] | Other Cash Generating Units [Member] | ||
Statement [Line Items] | ||
Percentage Of Value In Use | 1000.00% |
Trade Accounts Payable - Summar
Trade Accounts Payable - Summary of Trade Accounts Payable (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Trade and other payables [abstract] | ||
Foreign suppliers | $ 259 | $ 318.3 |
Risk partners | 137.2 | 101.3 |
Domestic suppliers | 99 | 82.7 |
Trade accounts payable | $ 495.2 | $ 502.3 |
Trade Accounts Payable - Supp_2
Trade Accounts Payable - Supplier Finance Arrangements - Additional Information (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Text Block 1 Abstract [Abstract] | |
Amount paid to Financial Institution by suppliers | $ 14.8 |
Average Payment period | 120 |
Loans and Financing - Summary o
Loans and Financing - Summary of Loans and Financing (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | four | |||
Loans and financing | $ 4,026.9 | $ 4,448 | $ 91 | $ 3,647.6 |
Borrowings contractual interest rate | 2.60% | |||
Current portion | $ 574.2 | 375.5 | ||
Non-current portion | 3,452.7 | 4,072.5 | ||
Other currencies [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Loans and financing | 4,008.6 | 4,364.5 | ||
Local currency [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Loans and financing | $ 18.3 | 83.5 | ||
2028 [member] | Guaranteed Notes [member] | Other currencies [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2028 | |||
Loans and financing | $ 3,283.5 | 3,289 | ||
2028 [member] | Bottom of range [member] | Guaranteed Notes [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 5.05% | |||
Borrowing effective interest rate | 5.05% | |||
2028 [member] | Top of range [member] | Guaranteed Notes [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 6.95% | |||
Borrowing effective interest rate | 7.42% | |||
2030 [member] | Working capital [member] | Other currencies [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2030 | |||
Loans and financing | $ 197.1 | 225.2 | ||
2030 [member] | Bottom of range [member] | Working capital [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 2.41% | |||
Borrowing effective interest rate | 2.43% | |||
2030 [member] | Top of range [member] | Working capital [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 4.87% | |||
Borrowing effective interest rate | 4.87% | |||
2021 [member] | Guaranteed Notes [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 10.00% | |||
Effective interest rate | IPCA + 10.00% | |||
Borrowing effective interest rate | 10.00% | |||
2021 [member] | Guaranteed Notes [member] | Local currency [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2021 | |||
Loans and financing | $ 0 | 2.1 | ||
2021 [member] | Working capital [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 0.42% | |||
Effective interest rate | CDI + 0.42% | |||
Borrowing effective interest rate | 0.42% | |||
2021 [member] | Working capital [member] | Other currencies [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2021 | |||
Loans and financing | 14.1 | |||
2021 [member] | Working capital [member] | Local currency [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2021 | |||
Loans and financing | 0.6 | |||
2021 [member] | Working capital one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 0.00% | |||
Borrowing effective interest rate | 0.00% | |||
2021 [member] | Working capital one [member] | London inter bank offered rate one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Effective interest rate | Libor 3M + 4.50% | |||
Borrowing effective interest rate | 1.30% | |||
2021 [member] | Working capital one [member] | Local currency [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2021 | |||
Loans and financing | 2.4 | |||
2021 [member] | Working capital two [member] | London inter bank offered rate one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 4.50% | |||
Borrowing effective interest rate | 4.50% | |||
2021 [member] | Working capital two [member] | Other currencies [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2021 | |||
Loans and financing | 94.1 | |||
2021 [member] | Working capital two [member] | Local currency [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2021 | |||
Loans and financing | 0.8 | |||
2021 [member] | Export financing [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 3.60% | |||
Effective interest rate | CDI + 3.60% | |||
Borrowing effective interest rate | 3.60% | |||
2021 [member] | Export financing [member] | Local currency [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2021 | |||
Loans and financing | 52.5 | |||
2021 [member] | Bottom of range [member] | Working capital [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowing effective interest rate | 7.96% | |||
2021 [member] | Bottom of range [member] | Working capital two [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 0.89% | |||
Borrowing effective interest rate | 0.89% | |||
2021 [member] | Top of range [member] | Working capital [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowing effective interest rate | 17.32% | |||
2021 [member] | Top of range [member] | Working capital two [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 2.9792% | |||
Borrowing effective interest rate | 2.9792% | |||
2027 [member] | London inter bank offered rate one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 2.60% | |||
Borrowing effective interest rate | 2.60% | |||
2027 [member] | Local currency [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2027 | |||
Loans and financing | $ 0.6 | 0.6 | ||
2027 [member] | Working capital [member] | Other currencies [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2027 | |||
Loans and financing | $ 100.8 | 100.8 | ||
2027 [member] | Working capital one [member] | Other currencies [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2027 | |||
Loans and financing | $ 26.1 | 22.3 | ||
2027 [member] | Working capital two [member] | London inter bank offered rate one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Effective interest rate | Libor 6M + 2.60% | |||
2027 [member] | Project development [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 5.92% | |||
Effective interest rate | IPCA + 5.92% | |||
Borrowing effective interest rate | 5.92% | |||
2027 [member] | Bottom of range [member] | London inter bank offered rate one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 1.31% | |||
Borrowing effective interest rate | 1.31% | |||
2027 [member] | Top of range [member] | London inter bank offered rate one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 0.00% | |||
Borrowing effective interest rate | 0.00% | |||
2024 [member] | Export financing [member] | Other currencies [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2024 | |||
Loans and financing | $ 313.2 | 472.1 | ||
2024 [member] | Bottom of range [member] | London inter bank offered rate one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 1.76% | |||
Borrowing effective interest rate | 1.76% | |||
2024 [member] | Bottom of range [member] | Working capital [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 7.96% | |||
2024 [member] | Top of range [member] | London inter bank offered rate one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 5.13% | |||
Borrowing effective interest rate | 5.13% | |||
2024 [member] | Top of range [member] | Working capital [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 17.32% | |||
2037 [member] | Property, plant and equipment [member] | Other currencies [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2037 | |||
2023 [member] | Working capital [member] | London inter bank offered rate one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Effective interest rate | Libor 1M + 1.30% | |||
2023 [member] | Working capital one [member] | London inter bank offered rate one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 1.30% | |||
2023 [member] | Working capital one [member] | Other currencies [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2023 | |||
Loans and financing | $ 50.2 | 96 | ||
2023 [member] | Project development [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 3.50% | |||
Borrowing effective interest rate | 3.50% | |||
2023 [member] | Project development [member] | Local currency [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2023 | |||
Loans and financing | $ 14.1 | 24.5 | ||
2026 [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowing effective interest rate | 2.60% | |||
2026 [member] | Working capital one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Effective interest rate | CDI + 2.60% | |||
2026 [member] | Working capital two [member] | Local currency [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings, maturity | 2026 | |||
Loans and financing | $ 3.6 | |||
2037 [member] | Property, plant and equipment [member] | London inter bank offered rate one [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Borrowings contractual interest rate | 2.44% | |||
Effective interest rate | SIFMA Libor 1M +2.44% | |||
2037 [member] | Property, plant and equipment [member] | Other currencies [member] | ||||
Disclosure of detailed information about loans and financing [line items] | ||||
Loans and financing | $ 37.7 | $ 50.9 |
Loans and Financing - Additiona
Loans and Financing - Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2020 | Jun. 15, 2012 | Feb. 28, 2017 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2015 |
Disclosure of detailed information about loans and financing [line items] | ||||||
Assets pledged and bank guarantees as collateral for loans | $ 452.9 | $ 502.8 | ||||
Loan and Fianncing Repurchase Maximum Amount | $ 82.3 | |||||
Loan And Financing Remaining Amount | 458.2 | |||||
Total borrowing costs incurred | $ 615 | |||||
Borrowings, maturity | four | |||||
U.S. dollar [member] | ||||||
Disclosure of detailed information about loans and financing [line items] | ||||||
Proportion of loans denominated in foreign currency subject to fixed interest rate | 98.90% | |||||
Weighted average interest rate | 5.16% | 5.03% | ||||
Brazilian Real [member] | ||||||
Disclosure of detailed information about loans and financing [line items] | ||||||
Proportion of loans denominated in foreign currency subject to fixed interest rate | 0.40% | |||||
Weighted average interest rate | 5.24% | 2.51% | ||||
Euro [member] | ||||||
Disclosure of detailed information about loans and financing [line items] | ||||||
Proportion of loans denominated in foreign currency subject to fixed interest rate | 0.60% | |||||
Weighted average interest rate | 0.29% | 0.00% | ||||
Embraer Netherlands Finance BV [member] | ||||||
Disclosure of detailed information about loans and financing [line items] | ||||||
Guaranteed notes issued | $ 750 | |||||
Borrowing interest rate | 6.95% | |||||
Embraer [Member] | ||||||
Disclosure of detailed information about loans and financing [line items] | ||||||
Guaranteed notes issued | $ 500 | |||||
Borrowing interest rate | 5.15% | |||||
Loan and Fianncing Repurchase Maximum Amount | $ 167.7 | |||||
Loan And Financing Remaining Amount | $ 332.3 | |||||
Existing Notes [member] | ||||||
Disclosure of detailed information about loans and financing [line items] | ||||||
Aggregate principal amount of notes exchange | $ 146.4 | |||||
5.696%, maturing on September 16, 2023 [member] | ||||||
Disclosure of detailed information about loans and financing [line items] | ||||||
Guaranteed notes issued | $ 540.5 | |||||
Borrowing interest rate | 5.696% | |||||
Aggregate principal amount of notes exchange | $ 337.2 | |||||
Percentage of aggregate principal notes exchange | 54.95% | |||||
5.05% p.a., due on June 15, 2025 [member] | Embraer Netherlands Finance BV [member] | ||||||
Disclosure of detailed information about loans and financing [line items] | ||||||
Borrowing interest rate | 5.05% | |||||
5.40% p.a., due on February 01, 2027 [member] | Embraer Netherlands Finance BV [member] | ||||||
Disclosure of detailed information about loans and financing [line items] | ||||||
Guaranteed notes issued | $ 750 | |||||
Borrowing interest rate | 5.40% | |||||
Private and public banks [Member] | ||||||
Disclosure of detailed information about loans and financing [line items] | ||||||
Borrowings | $ 315 | |||||
Brazilian National Bank for Economic and Social Development [Member] | ||||||
Disclosure of detailed information about loans and financing [line items] | ||||||
Borrowings | $ 300 |
Loans and Financing - Summary_2
Loans and Financing - Summary of Maturities of Long term Financing Agreements (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about loans and financing [line items] | |||
Opening balance | $ 4,448 | $ 91 | $ 3,647.6 |
Principal addition | 60.4 | 2,093.1 | 400.5 |
Interest addition | 200.2 | 197.2 | 186.3 |
Principal payment | (478.2) | (1,061.8) | (645.9) |
Interest payment | (207.4) | (173.2) | (188.1) |
Foreing exchange | 18 | (6.5) | (8.2) |
Maturities of the long-term financing agreements | 3,452.7 | 4,072.5 | |
Liabilities held for sale | 0 | 3,301.2 | (3,301.2) |
Business Combination | 0 | 7 | |
Transfer | (14.1) | 0 | |
Ending balance | 4,026.9 | $ 4,448 | $ 91 |
2023 [member] | |||
Disclosure of detailed information about loans and financing [line items] | |||
Maturities of the long-term financing agreements | 490.9 | ||
2024 [member] | |||
Disclosure of detailed information about loans and financing [line items] | |||
Maturities of the long-term financing agreements | 316.2 | ||
2025 [member] | |||
Disclosure of detailed information about loans and financing [line items] | |||
Maturities of the long-term financing agreements | 1,005.1 | ||
Thereafter 2025 [member] | |||
Disclosure of detailed information about loans and financing [line items] | |||
Maturities of the long-term financing agreements | $ 1,640.5 |
Loans And Financing - Disclosur
Loans And Financing - Disclosure of detailed information about lease liabilities explanatory (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Detailed Information About lease liabilities [Line Items] | |||
Beginning balance, Lease liabilities | $ 64.7 | $ 38.6 | $ 57.6 |
Additions | 14.4 | 27.8 | 18.1 |
Additions - business combination | 1.6 | ||
Disposals | (1.7) | (3.8) | (17.3) |
Interest expense | 3 | 2.8 | 6 |
Payments | (10.4) | (9) | (11.8) |
Assets and liabilities held for sale | 9.4 | (9.4) | |
Translation adjustments | (6.2) | (2.7) | (4.6) |
Ending balance, Lease liabilities | 63.8 | 64.7 | 38.6 |
Current portion | 11.5 | 11.4 | 5 |
Non-current portion | $ 52.3 | $ 53.3 | $ 33.6 |
Other Payables - Schedule of Ot
Other Payables - Schedule of Other Payables (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other payables [abstract] | ||
Provisions related to payroll | $ 105 | $ 96.8 |
Other accounts payable | 41.2 | 55.9 |
Provision for employee profit sharing | 26 | 15.7 |
Mutual with jointly controlled operation | 25.7 | 25.2 |
Long-term incentive | 24.9 | 7.9 |
Commission payable | 21.9 | 18.8 |
Non-controlling purchase options | 17.1 | 22.2 |
Contractual obligations | 14.8 | 16.2 |
Recourse and non recourse debt | 9.9 | 13.9 |
Insurance | 7.2 | 13.3 |
Brazilian air force | 4.8 | 3.3 |
Accounts payable of acquisitions (deferred consideration) | 0.4 | 3 |
Other payables | 298.9 | 292.2 |
Current portion | 241.3 | 249.9 |
Non-current portion | $ 57.6 | $ 42.3 |
Taxes and Payroll Charges Pay_3
Taxes and Payroll Charges Payable - Schedule of Taxes and Payroll Charges Payable (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Taxes And Payroll Charges [abstract] | ||
INSS (social security contribution) | $ 27.9 | $ 55.8 |
IPI (manufacturing tax) | 0.7 | 0.3 |
PIS and COFINS | 4 | 8 |
IRRF (withholding tax) | 8.1 | 7.4 |
FGTS (government employee severance indemnity fund) | 3.1 | 2.4 |
Others | 6.6 | 9.8 |
Total | 50.4 | 83.7 |
Current portion | 40.4 | 71.9 |
Non-current portion | $ 10 | $ 11.8 |
Taxes and Payroll Charges Pay_4
Taxes and Payroll Charges Payable - Schedule of Taxes and Payroll Charges Payable (Parenthetical) (Detail) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |
Oct. 31, 2015 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Taxes And Payroll Charges [abstract] | |||
Reduction on provisions payable on social security | $ 2.5 | ||
Remaining amount of provisions payable on social security | 9.8 | 11.6 | |
Amount of injunction guaranteeing right to not collect social security contributions | $ 27.2 | ||
Payment of thirdparty services,Rate | 11.00% | ||
Payment of thirdparty services | $ 1.7 | ||
Socialsecurity taxes payable on favorable tax assessment | 4.9 | ||
Reduction of remaining amount on payables on social security taxes during year | 1.7 | ||
Maximum exposure to credit risk | $ 24.5 |
Income Taxes - Components of De
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of income taxes [line items] | ||||
Tax loss carryforwards | $ (69.2) | |||
Differences between basis: account x tax | 9.5 | $ (27.1) | $ 73.6 | |
Assets and liabilities held for sale | (97.6) | (104.6) | ||
Deferred tax assets (liabilities), net | (408.2) | (370.1) | $ (271.6) | $ (232.4) |
Total deferred tax liability | (505.8) | (474.7) | ||
Components of deferred tax assets and liabilities [Member] | ||||
Disclosure of income taxes [line items] | ||||
Temporarily non-deductible provisions | 155.3 | 133.7 | ||
Tax loss carryforwards | 7.1 | 0.5 | ||
Functional currency effect of the non-monetary assets | (529.1) | (509.3) | ||
Gains not realized from sales of the Company to subsidiaries | 14.7 | 14.5 | ||
Effect of differences by fixed asset | (21.4) | 14.1 | ||
Differences between basis: account x tax | (33.1) | (23.6) | ||
Assets and liabilities held for sale | (1.7) | 0 | ||
Deferred tax assets (liabilities), net | (408.2) | (370.1) | ||
Total deferred tax asset | 97.6 | 104.6 | ||
Total deferred tax liability | $ (505.8) | $ (474.7) |
Income Taxes - Changes in Defer
Income Taxes - Changes in Deferred Income Tax (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of income taxes [line items] | |||
Beginning balance | $ (370.1) | $ (271.6) | $ (232.4) |
Temporarily non-deductible provisions | 21.6 | 68.5 | 43.1 |
Tax loss carryforwards | 6.6 | 0.3 | 1.1 |
Functional currency effect of the non monetary assets | (19.8) | (211.9) | 16.4 |
Gains not realized from sales of Parent Company to subsidiaries | 0.2 | (8.6) | 0.4 |
Effect of differences by fixed asset | (35.5) | 26.1 | (23.4) |
Differences between basis: account x tax | (9.5) | 27.1 | (73.6) |
Discontinued operation | (1.7) | (3.2) | |
Ending balance | (408.2) | (370.1) | (271.6) |
From the statement of income [member] | |||
Disclosure of income taxes [line items] | |||
Beginning balance | (418.8) | (314.1) | (250.2) |
Temporarily non-deductible provisions | 21.6 | 68.5 | 43.1 |
Tax loss carryforwards | 6.6 | 0.3 | 1.1 |
Functional currency effect of the non monetary assets | (19.8) | (211.9) | 16.4 |
Gains not realized from sales of Parent Company to subsidiaries | 0.2 | (8.6) | 0.4 |
Effect of differences by fixed asset | (35.5) | 26.1 | (23.4) |
Differences between basis: account x tax | (11.5) | 20.9 | (70.8) |
Discontinued operation | (1.7) | (30.7) | |
Ending balance | (458.9) | (418.8) | (314.1) |
Other comprehensive income [member] | |||
Disclosure of income taxes [line items] | |||
Beginning balance | 48.7 | 42.5 | 17.8 |
Differences between basis: account x tax | 2 | 6.2 | (2.8) |
Discontinued operation | 0 | 27.5 | |
Ending balance | $ 50.7 | $ 48.7 | $ 42.5 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Income Tax Expense (Detail) - USD ($) $ in Millions | Nov. 11, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of income tax reconciliation [abstract] | ||||
Loss before income tax | $ 27.4 | $ (635.2) | $ (186.2) | |
Income tax and social contribution at the nominal Brazilian enacted tax rate - 34% | (9.3) | 216 | 63.3 | |
Tax on profits of overseas subsidiaries | (92.1) | (21.3) | (72.3) | |
Transfer Pricing and Thin Capitalization | (36.3) | (47.7) | 0 | |
Functional currency effect of the non monetary assets | (60) | (250.4) | 16.4 | |
Research and development tax incentives | 1.2 | 1.6 | 23 | |
Equity in the earnings of subsidiaries | 0.4 | 0.8 | 0 | |
Fiscal credits (recognized and non recognized) | (68.2) | (104.6) | (16.7) | |
Tax rate difference | 28.2 | 10.4 | 6.6 | |
Other differences between accounting and fiscal basis | 165.2 | 195.6 | (150.6) | |
Effects of Dropdown | 0 | (93.5) | 0 | |
Total income tax expense | (61.6) | (309.1) | (193.6) | |
Income tax and social contribution income (expense) benefit as reported | $ (5) | (70.9) | (93.1) | (130.3) |
Current income tax and social contribution expense as reported | (32.5) | 11.6 | (97.1) | |
Deferred income tax and social contribution income (expense) benefit as reported | $ (38.4) | $ (104.7) | $ (33.2) |
Income Taxes - Reconciliation_2
Income Taxes - Reconciliation of Income Tax Expense (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of income tax reconciliation [abstract] | |
Income tax and social contribution tax rate | 34.00% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) $ in Millions | Dec. 31, 2021USD ($) |
Income Taxes [abstract] | |
Unrecognised Deferred Tax Assets | $ 69.5 |
Temporary Differences In Deferred Tax Assets | 0.3 |
Tax Losses Carryforwards | $ 69.2 |
Financial Guarantees and Resi_3
Financial Guarantees and Residual Value Guarantees - Schedule of Financial Guarantees and Residual Guarantees (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2018 |
Disclosure of financial guarantees and residual guarantees [line items] | |||
Financial guarantees and residual value guarantees | $ 18.7 | $ 125.2 | $ 152.1 |
Current portion | 15.8 | 42.6 | |
Non-current portion | 2.9 | 82.6 | |
Financial guarantee of residual value [member] | |||
Disclosure of financial guarantees and residual guarantees [line items] | |||
Financial guarantees and residual value guarantees | 0 | 86.2 | 125.4 |
Accounts payable [member] | |||
Disclosure of financial guarantees and residual guarantees [line items] | |||
Financial guarantees and residual value guarantees | 18.7 | 33.7 | 15.1 |
Financial guarantee [member] | |||
Disclosure of financial guarantees and residual guarantees [line items] | |||
Financial guarantees and residual value guarantees | 0 | 4.4 | $ 11.6 |
Additional provision [member] | |||
Disclosure of financial guarantees and residual guarantees [line items] | |||
Financial guarantees and residual value guarantees | $ 0 | $ 0.9 |
Financial Guarantees and Resi_4
Financial Guarantees and Residual Value Guarantees - Activity on Financial Guarantees and Residual Guarantees (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure activity on financial guarantees and residual guarantees [line items] | |||
Beginning balance | $ 125.2 | $ 152.1 | |
Additions | 0.4 | ||
Interest Additions | $ 9.1 | 0.6 | |
Cash settlements | (50.8) | (5) | (15.7) |
Reversals | (53) | ||
Market value | (1.1) | (9.7) | 4.2 |
Guarantee amortization | (2) | (9.5) | (0.9) |
Liabilities held for sale | 140.3 | (140.3) | |
Ending balance | 18.7 | 125.2 | |
Financial guarantee [member] | |||
Disclosure activity on financial guarantees and residual guarantees [line items] | |||
Beginning balance | 4.4 | 11.6 | |
Interest Additions | 3.2 | ||
Reversals | (2.4) | ||
Guarantee amortization | (2) | (9.5) | (0.9) |
Liabilities held for sale | 10.7 | (10.7) | |
Ending balance | 0 | 4.4 | |
Financial guarantee of residual value [member] | |||
Disclosure activity on financial guarantees and residual guarantees [line items] | |||
Beginning balance | 86.2 | 125.4 | |
Reversals | (50.6) | ||
Reclassifications | (34.3) | (33.7) | |
Market value | (1.3) | (9.7) | 4.2 |
Liabilities held for sale | 129.6 | (129.6) | |
Ending balance | 0 | 86.2 | |
Accounts payable [member] | |||
Disclosure activity on financial guarantees and residual guarantees [line items] | |||
Beginning balance | 33.7 | 15.1 | |
Interest Additions | 0.6 | ||
Cash settlements | (49.5) | $ (15.7) | |
Reclassifications | 34.3 | 33.7 | |
Market value | 0.2 | ||
Ending balance | 18.7 | 33.7 | |
Additional provision [member] | |||
Disclosure activity on financial guarantees and residual guarantees [line items] | |||
Beginning balance | 0.9 | ||
Additions | 0.4 | ||
Interest Additions | 5.9 | ||
Cash settlements | (1.3) | (5) | |
Ending balance | $ 0 | $ 0.9 |
Financial Guarantees and Resi_5
Financial Guarantees and Residual Value Guarantees - Additional Information (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Disclosure Of Financial Guarantees And Residual Guarantees [abstract] | |
Reversal of Residual Value Guarantees | $ 50.3 |
Provisions and Contingent Lia_3
Provisions and Contingent Liabilities - Summary of Provision (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of provisions [line items] | ||
Provision | $ 229.4 | $ 212.7 |
Current portion | 108.9 | 98.5 |
Non-current portion | 120.5 | 114.2 |
Product warranties [member] | ||
Disclosure of provisions [line items] | ||
Provision | 77.5 | 73.9 |
Provisions labor, taxes and civil [member] | ||
Disclosure of provisions [line items] | ||
Provision | 53.7 | 55.4 |
Current portion | 18.7 | 16.7 |
Non-current portion | 35 | 38.7 |
Taxes [member] | ||
Disclosure of provisions [line items] | ||
Provision | 36.6 | 34.5 |
Post retirement benefits [member] | ||
Disclosure of provisions [line items] | ||
Provision | 39.4 | 27.9 |
Environmental provision [Member] | ||
Disclosure of provisions [line items] | ||
Provision | 0.7 | 1.4 |
Other [member] | ||
Disclosure of provisions [line items] | ||
Provision | $ 21.5 | $ 19.6 |
Provisions and Contingent Lia_4
Provisions and Contingent Liabilities - Summary of Change in Provision (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of provisions [line items] | |||
Beginning balance | $ 212.7 | $ 202.9 | $ 242.4 |
Additions | 101.4 | 205.1 | 144.2 |
Interest | 5.5 | 9 | 7.4 |
Used/payments | (64.3) | (192.3) | (92.9) |
Reversals | (16.3) | (24.2) | (55.6) |
Translation adjustments | (9.6) | (27.3) | (3.1) |
Reclassification - Liabilities held for sale | 39.5 | (39.5) | |
Ending balance | 229.4 | 212.7 | 202.9 |
Product warranties [member] | |||
Disclosure of provisions [line items] | |||
Beginning balance | 73.9 | 67.1 | 98 |
Additions | 43.3 | 42 | 54.2 |
Interest | 0 | 0 | 0 |
Used/payments | (25.9) | (30.4) | (29.7) |
Reversals | (13.6) | (15.8) | (43.2) |
Translation adjustments | (0.2) | (1) | (0.2) |
Reclassification - Liabilities held for sale | 12 | (12) | |
Ending balance | 77.5 | 73.9 | 67.1 |
Provisions labor, taxes and civil [member] | |||
Disclosure of provisions [line items] | |||
Beginning balance | 55.4 | 66.4 | 58.4 |
Additions | 6 | 8.5 | 23.8 |
Interest | 3.8 | 5.4 | 5.2 |
Used/payments | (4.8) | (4.7) | (7.1) |
Reversals | (2.7) | (8) | (10.6) |
Translation adjustments | (4) | (13.6) | (1.9) |
Reclassification - Liabilities held for sale | 1.4 | (1.4) | |
Ending balance | 53.7 | 55.4 | 66.4 |
Post retirement benefits [member] | |||
Disclosure of provisions [line items] | |||
Beginning balance | 27.9 | 11.7 | 31.7 |
Additions | 11.8 | 2.5 | 0 |
Interest | 1.7 | 3.6 | 2.2 |
Used/payments | (0.3) | (2.2) | 0 |
Reversals | 0 | 0 | (1.8) |
Translation adjustments | (1.7) | (7.4) | (0.7) |
Reclassification - Liabilities held for sale | 19.7 | (19.7) | |
Ending balance | 39.4 | 27.9 | 11.7 |
Taxes [member] | |||
Disclosure of provisions [line items] | |||
Beginning balance | 34.5 | 41.7 | 31.4 |
Additions | 37.9 | 147.2 | 63.9 |
Interest | 0 | 0 | 0 |
Used/payments | (32.4) | (154.4) | (54) |
Reversals | 0 | 0 | 0 |
Translation adjustments | (3.4) | 0 | 0.4 |
Reclassification - Liabilities held for sale | 0 | 0 | |
Ending balance | 36.6 | 34.5 | 41.7 |
Environmental provision [Member] | |||
Disclosure of provisions [line items] | |||
Beginning balance | 1.4 | 0.3 | 2.4 |
Additions | 0.5 | 0.4 | 2.3 |
Interest | 0 | 0 | 0 |
Used/payments | (0.9) | (0.6) | (1.7) |
Reversals | 0 | (0.4) | 0 |
Translation adjustments | (0.3) | (0.9) | (0.1) |
Reclassification - Liabilities held for sale | 2.6 | (2.6) | |
Ending balance | 0.7 | 1.4 | 0.3 |
Other [member] | |||
Disclosure of provisions [line items] | |||
Beginning balance | 19.6 | 15.7 | 20.5 |
Additions | 1.9 | 4.5 | 0 |
Interest | 0 | 0 | 0 |
Used/payments | 0 | 0 | (0.4) |
Reversals | 0 | 0 | 0 |
Translation adjustments | 0 | (4.4) | (0.6) |
Reclassification - Liabilities held for sale | 3.8 | (3.8) | |
Ending balance | $ 21.5 | $ 19.6 | $ 15.7 |
Provisions and Contingent Lia_5
Provisions and Contingent Liabilities - Summary of Labor, Tax and Civil Provisions (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of provisions [line items] | ||
Provisions | $ 229.4 | $ 212.7 |
Current portion | 108.9 | 98.5 |
Non-current portion | 120.5 | 114.2 |
Tax related provision on IRPJ [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 10.5 | 10.8 |
Tax related provision on PIS and COFINS [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 7.3 | 4.2 |
Tax related provision on Social security contributions [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 1.7 | 1.8 |
Tax related provision on Import taxes [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 0.6 | 0.6 |
Others tax related provisions [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 2.1 | 0.2 |
Tax related provision [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 22.2 | 17.6 |
Labor related provision on Plurimas [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 6.7 | 6.5 |
Labor related provision on reintegration [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 6.9 | 5.7 |
Overtime provision [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 3.9 | 6.2 |
Dangerousness related provision [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 2 | 1.3 |
Labor related provision on indemnity [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 3.8 | 4.9 |
Labor related provision on third parties [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 1 | 1.5 |
Other labor related provision [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 7 | 11.5 |
Labor related provision [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 31.3 | 37.6 |
Civil related provision on Indemnity claims [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 0.2 | 0.2 |
Civil related provision [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 0.2 | 0.2 |
Provisions labor, taxes and civil [member] | ||
Disclosure of provisions [line items] | ||
Provisions | 53.7 | 55.4 |
Current portion | 18.7 | 16.7 |
Non-current portion | $ 35 | $ 38.7 |
Provisions and Contingent Lia_6
Provisions and Contingent Liabilities - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of other provisions [line items] | ||
Contingent tax liability | $ 82.7 | $ 86.8 |
Contingent liabilities | 20.7 | 26.8 |
Provision related to a process of social security | 1 | |
ICMS DIFAL [Member] | ||
Disclosure of other provisions [line items] | ||
Tax notice received | 6 | |
Multi-employer defined benefit plans [member] | ||
Disclosure of other provisions [line items] | ||
Defined contribution pension plan by employer | 12 | 12.3 |
Foreign countries [member] | ||
Disclosure of other provisions [line items] | ||
Actuarial liability recognized | 2.9 | 3.2 |
Country of domicile [member] | ||
Disclosure of other provisions [line items] | ||
Actuarial liability recognized | 36.5 | 24.7 |
Dispute On Sat Agentes Nocivos [Member] | ||
Disclosure of other provisions [line items] | ||
Estimated financial effect of contingent liabilities | 5.6 | 6 |
Transfer Price Calculation From Two Thousand And Nine Dispute [Member] | ||
Disclosure of other provisions [line items] | ||
Estimated financial effect of contingent liabilities | 7.7 | 8 |
Disputed Income Tax Liability Transfer Pricing In Loans Between SubsidariesAssociates [Member] | ||
Disclosure of other provisions [line items] | ||
Estimated financial effect of contingent liabilities | 155.9 | 157.9 |
Disputed Income Tax Liability Relating To Credit Disallowance [Member] | ||
Disclosure of other provisions [line items] | ||
Estimated financial effect of contingent liabilities | 58.1 | 56.8 |
Other Tax Lawsuits [Member] | ||
Disclosure of other provisions [line items] | ||
Estimated financial effect of contingent liabilities | $ 7 | $ 0.5 |
Financial Instruments - Summary
Financial Instruments - Summary of Financial Instrument by Category (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
ASSETS | |||||
Cash and cash equivalents | [1] | $ 1,818.3 | $ 1,883.1 | $ 2,307.7 | |
Financial investments | 816.4 | 869.2 | |||
Guarantee Deposits | 3 | 1.7 | |||
Collateralized accounts receivable | 13.9 | ||||
Contract assets | 582.3 | 461.8 | |||
Trade accounts receivable, net | 189 | 203.4 | |||
Customer and commercial financing | 32 | 29.9 | |||
Derivative financial instruments | 0.1 | 9.6 | |||
Other Assets | 50.7 | 52 | |||
Financial assets | 3,491.8 | 3,524.6 | |||
LIABILITIES | |||||
Loans and financing | 4,026.9 | 4,448 | 91 | $ 3,647.6 | |
Trade accounts payable and other liabilities | 826 | 794.5 | |||
Lease liability | 63.8 | 64.7 | $ 38.6 | $ 57.6 | |
Financial guarantee and residual value | 18.7 | 120.8 | |||
Derivative financial instruments | 5.9 | 9.9 | |||
Other liabilities | 218.9 | 222.5 | |||
Financial liabilities | 5,160.2 | 5,660.4 | |||
Financial Instruments at amortized cost [member] | |||||
ASSETS | |||||
Cash and cash equivalents | 1,816 | 1,883.1 | |||
Financial investments | 79.4 | 51.8 | |||
Guarantee Deposits | 3 | 1.7 | |||
Collateralized accounts receivable | 13.9 | ||||
Contract assets | 582.3 | 461.8 | |||
Trade accounts receivable, net | 189 | 203.4 | |||
Customer and commercial financing | 32 | 29.9 | |||
Other Assets | 50.7 | 52 | |||
Financial assets | 2,752.4 | 2,697.6 | |||
LIABILITIES | |||||
Loans and financing | 4,026.9 | 4,448 | |||
Trade accounts payable and other liabilities | 808.9 | 772.3 | |||
Lease liability | 63.8 | 64.7 | |||
Financial guarantee and residual value | 18.7 | 34.6 | |||
Other liabilities | 218.9 | 222.5 | |||
Financial liabilities | 5,137.2 | 5,542.1 | |||
Financial instruments at fair value through other comprehensive income [member] | |||||
ASSETS | |||||
Cash and cash equivalents | 2.3 | ||||
Financial investments | 541 | 513 | |||
Financial assets | 543.3 | 513 | |||
LIABILITIES | |||||
Trade accounts payable and other liabilities | 17.1 | 22.2 | |||
Financial liabilities | 17.1 | 22.2 | |||
Financial instruments measured or designated at fair value through profit or loss [member] | |||||
ASSETS | |||||
Financial investments | 196 | 304.4 | |||
Derivative financial instruments | 0.1 | 9.6 | |||
Financial assets | 196.1 | 314 | |||
LIABILITIES | |||||
Financial guarantee and residual value | 86.2 | ||||
Derivative financial instruments | 5.9 | 9.9 | |||
Financial liabilities | $ 5.9 | $ 96.1 | |||
[1] | Cash and cash equivalents excludes bank overdrafts of US$ 1.5 as of March 31, 2020. |
Financial Instruments - Summa_2
Financial Instruments - Summary of Company's Financial Assets and Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
ASSETS | |||||
Cash and cash equivalents | [1] | $ 1,818.3 | $ 1,883.1 | $ 2,307.7 | |
Financial investments | 816.4 | 869.2 | |||
Guarantee deposits | 3 | 1.7 | |||
Collateralized accounts receivable | 13.9 | ||||
Contract assets | 582.3 | 461.8 | |||
Trade accounts receivable, net | 189 | 203.4 | |||
Customer and commercial financing | 32 | 29.9 | |||
Derivative financial instruments | 0.1 | 9.6 | |||
Other assets | 50.7 | 52 | |||
Financial assets | 3,491.8 | 3,524.6 | |||
LIABILITIES | |||||
Loans and financing | 4,026.9 | 4,448 | 91 | $ 3,647.6 | |
Trade accounts payable and other liabilities | 826 | 794.5 | |||
Lease liability | 63.8 | 64.7 | $ 38.6 | $ 57.6 | |
Financial guarantee and residual value | 18.7 | 120.8 | |||
Derivative financial instruments | 5.9 | 9.9 | |||
Other liabilities | 218.9 | 222.5 | |||
Financial liabilities | 5,160.2 | 5,660.4 | |||
Total [member] | |||||
ASSETS | |||||
Cash and cash equivalents | 2.3 | ||||
Financial investments | 737 | 817.4 | |||
Derivative financial instruments | 0.1 | 9.6 | |||
Financial assets | 739.4 | 827 | |||
LIABILITIES | |||||
Trade accounts payable and other liabilities | 17.1 | 22.2 | |||
Financial guarantee and residual value | 86.2 | ||||
Derivative financial instruments | 5.9 | 9.9 | |||
Financial liabilities | 23 | 118.3 | |||
Fair value of the other financial instruments [member] | |||||
ASSETS | |||||
Cash and cash equivalents | 1,816 | 1,883.1 | |||
Financial investments | 79.4 | 51.8 | |||
Guarantee deposits | 3 | 1.7 | |||
Collateralized accounts receivable | 13.9 | ||||
Contract assets | 582.3 | 461.8 | |||
Trade accounts receivable, net | 189 | 203.4 | |||
Customer and commercial financing | 32 | 36.3 | |||
Other assets | 50.7 | 52 | |||
Financial assets | 2,752.4 | 2,704 | |||
LIABILITIES | |||||
Loans and financing | 4,026.9 | 4,448 | |||
Trade accounts payable and other liabilities | 808.9 | 772.3 | |||
Lease liability | 63.8 | 64.7 | |||
Financial guarantee and residual value | 18.7 | 34.6 | |||
Other liabilities | 218.9 | 222.5 | |||
Financial liabilities | 5,137.2 | 5,542.1 | |||
Fair value [member] | |||||
ASSETS | |||||
Cash and cash equivalents | 1,818.3 | 1,883.1 | |||
Financial investments | 819.6 | 869.2 | |||
Guarantee deposits | 3 | 1.7 | |||
Collateralized accounts receivable | 13.9 | ||||
Contract assets | 582.3 | 461.8 | |||
Trade accounts receivable, net | 189 | 203.4 | |||
Customer and commercial financing | 32 | 36.3 | |||
Derivative financial instruments | 0.1 | 9.6 | |||
Other assets | 50.7 | 52 | |||
Financial assets | 3,495 | 3,531 | |||
LIABILITIES | |||||
Loans and financing | 4,229.8 | 4,319.7 | |||
Trade accounts payable and other liabilities | 826 | 794.5 | |||
Lease liability | 63.8 | 64.7 | |||
Financial guarantee and residual value | 18.7 | 120.8 | |||
Derivative financial instruments | 5.9 | 9.9 | |||
Other liabilities | 218.9 | 222.5 | |||
Financial liabilities | 5,363.1 | 5,532.1 | |||
Level 2 [member] | Total [member] | |||||
ASSETS | |||||
Cash and cash equivalents | 2.3 | ||||
Financial investments | 642.1 | 761.5 | |||
Derivative financial instruments | 0.1 | 9.6 | |||
Financial assets | 644.5 | 771.1 | |||
LIABILITIES | |||||
Derivative financial instruments | 5.9 | 9.9 | |||
Financial liabilities | 5.9 | 9.9 | |||
Level 3 [member] | Total [member] | |||||
ASSETS | |||||
Financial investments | 94.9 | 55.9 | |||
Financial assets | 94.9 | 55.9 | |||
LIABILITIES | |||||
Trade accounts payable and other liabilities | 17.1 | 22.2 | |||
Financial guarantee and residual value | 86.2 | ||||
Financial liabilities | $ 17.1 | $ 108.4 | |||
[1] | Cash and cash equivalents excludes bank overdrafts of US$ 1.5 as of March 31, 2020. |
Financial Instruments - Summa_3
Financial Instruments - Summary of Fair Value of Liabilities Measurement Using Significant Unobservable Inputs (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [line items] | ||
Opening balance | $ 10,516 | |
Ending balance | 10,155 | $ 10,516 |
Opening balance | 7,608.5 | |
Ending balance | 7,380 | 7,608.5 |
Level 3 [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [line items] | ||
Opening balance | 55.9 | 60.6 |
Changes in fair value | 35.2 | (4.1) |
Exchange variation | 3.8 | (0.6) |
Ending balance | 94.9 | 55.9 |
Opening balance | 108.4 | 0 |
Adding Shares | 22.2 | |
Reversal | (50.1) | |
Transfer | (33.6) | |
Changes in fair value | (3.9) | (9.7) |
Exchange variation | (3.7) | |
Reclassification | (33.7) | |
Reclassification from held for sale | 129.6 | |
Ending balance | $ 17.1 | $ 108.4 |
Financial Instruments - Additio
Financial Instruments - Additional information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about financial instruments [line items] | ||
Lower and surpassed in financial indebtedness | $ 1,392.2 | $ 1,695.7 |
Financial indebtedness of short term | 14.00% | 8.50% |
Average weighted term | 3 years 8 months 12 days | 4 years 4 months 24 days |
Percentage of expected credit loss | 1.30% | 1.40% |
Defense And Security Customers [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Expected Credit loss | $ 2.4 | $ 3.4 |
COVID19 Pandemic [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in Expected Credit loss Factor | 7.70% | 11.60% |
Bottom of range [member] | Methodology [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Risk Variable | 25.00% | |
Bottom of range [member] | Sensitivity analysis [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Risk Variable | 25.00% | |
Top of range [member] | Methodology [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Risk Variable | 50.00% | |
Top of range [member] | Sensitivity analysis [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Risk Variable | 50.00% |
Financial Instruments - Summa_4
Financial Instruments - Summary of Additional Information Related to Authorization of Undiscounted Contractual Obligations and Commercial Commitments (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of liquidity risk [line items] | ||||
Loans and financing | $ 4,026.9 | $ 4,448 | $ 91 | $ 3,647.6 |
Trade accounts payable | 495.2 | 502.3 | ||
Trade accounts payable - Supplier finance | 14.8 | |||
Financial guarantees | 15.8 | 42.6 | ||
Lease liability | 63.8 | 64.7 | $ 38.6 | $ 57.6 |
Other liabilities | 218.9 | 222.5 | ||
Liquidity risk [member] | Less than one year [member] | ||||
Disclosure of liquidity risk [line items] | ||||
Loans and financing | 712.5 | 568 | ||
Trade accounts payable | 495.2 | 502.3 | ||
Trade accounts payable - Supplier finance | 14.8 | |||
Financial guarantees | 15.8 | 42.6 | ||
Lease liability | 11.5 | 10.1 | ||
Other liabilities | 15.8 | 11.4 | ||
Total | 1,265.6 | 1,134.4 | ||
Liquidity risk [member] | One to three years [member] | ||||
Disclosure of liquidity risk [line items] | ||||
Loans and financing | 683.4 | 1,591.6 | ||
Financial guarantees | 2.9 | 44.1 | ||
Lease liability | 20.1 | 19.4 | ||
Other liabilities | 164.5 | 56 | ||
Total | 870.9 | 1,711.1 | ||
Liquidity risk [member] | Three to five years [member] | ||||
Disclosure of liquidity risk [line items] | ||||
Loans and financing | 1,602.4 | 1,666.1 | ||
Financial guarantees | 36.6 | |||
Lease liability | 9.9 | 11.9 | ||
Other liabilities | 27.8 | 137.7 | ||
Total | 1,640.1 | 1,852.3 | ||
Liquidity risk [member] | More than five years [member] | ||||
Disclosure of liquidity risk [line items] | ||||
Loans and financing | 1,843.7 | 1,923.8 | ||
Financial guarantees | 1.9 | |||
Lease liability | 22.3 | 23.3 | ||
Other liabilities | 10.7 | 17.4 | ||
Total | 1,876.7 | 1,966.4 | ||
Liquidity risk [member] | Cash flow [member] | ||||
Disclosure of liquidity risk [line items] | ||||
Loans and financing | 4,842 | 5,749.5 | ||
Trade accounts payable | 495.2 | 502.3 | ||
Trade accounts payable - Supplier finance | 14.8 | |||
Financial guarantees | 18.7 | 125.2 | ||
Lease liability | 63.8 | 64.7 | ||
Other liabilities | 218.8 | 222.5 | ||
Total | $ 5,653.3 | $ 6,664.2 |
Financial Instruments - Summa_5
Financial Instruments - Summary of Company's Cash, Cash Equivalents, Financial Investments and Loans and Financing (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Cash Cash Equivalents Financing Investments And Loans And Financing [line items] | ||||
Total amount | $ 4,026.9 | $ 4,448 | $ 91 | $ 3,647.6 |
Without the effect of derivative transactions [member] | ||||
Disclosure Of Cash Cash Equivalents Financing Investments And Loans And Financing [line items] | ||||
Pre-fixed amount | $ 2,559.6 | |||
Pre-fixed percentage | 97.15% | |||
Post-fixed amount | $ 75.2 | |||
Post-fixed percentage | 2.85% | |||
Total amount | $ 2,634.8 | |||
Total percentage | 100.00% | |||
Pre-fixed amount | $ 3,514.6 | |||
Pre-fixed percentage | 87.28% | |||
Post-fixed amount | $ 512.3 | |||
Post-fixed percentage | 12.72% | |||
Total amount | $ 4,026.9 | |||
Total percentage | 100.00% | |||
With the effect of derivative transactions [member] | ||||
Disclosure Of Cash Cash Equivalents Financing Investments And Loans And Financing [line items] | ||||
Pre-fixed amount | $ 2,559.6 | |||
Pre-fixed percentage | 97.15% | |||
Post-fixed amount | $ 75.2 | |||
Post-fixed percentage | 2.85% | |||
Total amount | $ 2,634.8 | |||
Total percentage | 100.00% | |||
Pre-fixed amount | $ 3,803.7 | |||
Pre-fixed percentage | 94.46% | |||
Post-fixed amount | $ 223.2 | |||
Post-fixed percentage | 5.54% | |||
Total amount | $ 4,026.9 | |||
Total percentage | 100.00% |
Financial Instruments - Summa_6
Financial Instruments - Summary of Company's Cash Equivalents and Post Fixed Financing (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Without the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Cash equivalents and financial investments | $ 75.2 |
Loans and financing | $ 512.3 |
Cash equivalents and financial investments | 100.00% |
Loans and financing | 12.72% |
With the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Cash equivalents and financial investments | $ 75.2 |
Loans and financing | $ 223.2 |
Cash equivalents and financial investments | 100.00% |
Loans and financing | 5.54% |
CDI [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Cash equivalents and financial investments | $ 75.2 |
Cash equivalents and financial investments | 100.00% |
CDI [member] | Without the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Cash equivalents and financial investments | $ 75.2 |
Loans and financing | $ 3.7 |
Cash equivalents and financial investments | 100.00% |
Loans and financing | 0.72% |
CDI [member] | With the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Cash equivalents and financial investments | $ 75.2 |
Loans and financing | $ 17.5 |
Cash equivalents and financial investments | 100.00% |
Loans and financing | 7.84% |
Loans And Financing [member] | Without the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 512.3 |
Loans and financing | 100.00% |
Loans And Financing [member] | With the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 223.2 |
Loans and financing | 100.00% |
Libor [member] | Without the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 480.5 |
Loans and financing | 93.79% |
Libor [member] | With the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 177.5 |
Loans and financing | 79.53% |
TJLP [member] | Without the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 0.2 |
Loans and financing | 0.04% |
TJLP [member] | With the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 0.2 |
Loans and financing | 0.09% |
SIFMA [member] | Without the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 21.5 |
Loans and financing | 4.20% |
SIFMA [member] | With the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 21.5 |
Loans and financing | 9.63% |
IPCA [Member] | Without the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 0.6 |
Loans and financing | 0.12% |
IPCA [Member] | With the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 0.6 |
Loans and financing | 0.27% |
Euro Interbank Offer Rate [Member] | Without the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 5.8 |
Loans and financing | 1.13% |
Euro Interbank Offer Rate [Member] | With the effect of derivative transactions [member] | |
Disclosure of Cash Equivalents and Post Fixed Financing [line items] | |
Loans and financing | $ 5.9 |
Loans and financing | 2.64% |
Financial Instruments - Summa_7
Financial Instruments - Summary of Changes in Foreign Exchange Rates (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Trade accounts payable | ||
Trade accounts payable | $ 495.2 | $ 502.3 |
Trade Accounts Payable to Supplier Finance [Abstract] | ||
Trade payables | 14.8 | |
Trade accounts receivable: | ||
Trade accounts receivable | 189 | 203.4 |
Without the effect of derivative transactions [member] | ||
Loans and financing | ||
Loans and financing | 4,026.9 | 4,448 |
Trade accounts payable | ||
Trade accounts payable | 495.2 | 502.3 |
Trade Accounts Payable to Supplier Finance [Abstract] | ||
Trade payables | 14.8 | |
Total | 4,536.9 | 4,950.3 |
Cash and cash equivalents and financial investments | ||
Cash and cash equivalents and financial investments | 2,634.7 | 2,752.3 |
Trade accounts receivable: | ||
Trade accounts receivable | 189 | 203.4 |
Total | 2,823.7 | 2,955.7 |
Brazil, Brazil Real [member] | Without the effect of derivative transactions [member] | ||
Loans and financing | ||
Loans and financing | 18.3 | 83.4 |
Trade accounts payable | ||
Trade accounts payable | 77.6 | 54.3 |
Trade Accounts Payable to Supplier Finance [Abstract] | ||
Trade payables | 2.8 | |
Cash and cash equivalents and financial investments | ||
Cash and cash equivalents and financial investments | 94.9 | 89.5 |
Trade accounts receivable: | ||
Trade accounts receivable | 33.3 | 6.5 |
Net exposure (1-2): | ||
Net exposure | (29.5) | 41.7 |
United States of America, Dollars [member] | Without the effect of derivative transactions [member] | ||
Loans and financing | ||
Loans and financing | 3,982.5 | 4,342.2 |
Trade accounts payable | ||
Trade accounts payable | 385.6 | 385.6 |
Trade Accounts Payable to Supplier Finance [Abstract] | ||
Trade payables | 12 | |
Cash and cash equivalents and financial investments | ||
Cash and cash equivalents and financial investments | 2,493.6 | 2,617.6 |
Trade accounts receivable: | ||
Trade accounts receivable | 134.8 | 173.7 |
Net exposure (1-2): | ||
Net exposure | 1,751.7 | 1,936.5 |
Euro Member Countries, Euro [member] | Without the effect of derivative transactions [member] | ||
Loans and financing | ||
Loans and financing | 26.1 | 22.4 |
Trade accounts payable | ||
Trade accounts payable | 31.3 | 61.1 |
Cash and cash equivalents and financial investments | ||
Cash and cash equivalents and financial investments | 42.4 | 42.8 |
Trade accounts receivable: | ||
Trade accounts receivable | 20.8 | 23.2 |
Net exposure (1-2): | ||
Net exposure | (5.8) | 17.5 |
Other currencies [member] | Without the effect of derivative transactions [member] | ||
Trade accounts payable | ||
Trade accounts payable | 0.7 | 1.3 |
Cash and cash equivalents and financial investments | ||
Cash and cash equivalents and financial investments | 3.8 | 2.4 |
Trade accounts receivable: | ||
Trade accounts receivable | 0.1 | |
Net exposure (1-2): | ||
Net exposure | $ (3.2) | $ (1.1) |
Financial Instruments - Summa_8
Financial Instruments - Summary of Interest Risk Factor (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of interest risk factor [line items] | ||||
Loans and financing | $ 4,026.9 | $ 4,448 | $ 91 | $ 3,647.6 |
Interbank deposit certificate CDI rate [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Cash equivalents and financial investments | 75.2 | |||
Loans and financing | (3.7) | |||
Net impact | $ 71.5 | |||
Rates considered | 9.15% | |||
Libor [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Loans and financing | $ (480.5) | |||
Net impact | $ (480.5) | |||
Rates considered | 0.35% | |||
TJLP [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Loans and financing | $ (0.2) | |||
Net impact | $ (0.2) | |||
Rates considered | 5.32% | |||
IPCA [Member] | ||||
Disclosure of interest risk factor [line items] | ||||
Loans and financing | $ (0.6) | |||
Net impact | $ (0.6) | |||
Rates considered | 10.06% | |||
-50% [member] | Interbank deposit certificate CDI rate [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Cash equivalents and financial investments | $ (2.5) | |||
Loans and financing | (0.1) | |||
Net impact | $ (2.6) | |||
Rates considered | 5.85% | |||
-50% [member] | Libor [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Loans and financing | $ 0.3 | |||
Net impact | $ 0.3 | |||
Rates considered | 0.28% | |||
-50% [member] | TJLP [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Rates considered | 3.04% | |||
-50% [member] | IPCA [Member] | ||||
Disclosure of interest risk factor [line items] | ||||
Rates considered | 5.11% | |||
-25% [member] | Interbank deposit certificate CDI rate [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Cash equivalents and financial investments | $ (0.3) | |||
Net impact | $ (0.3) | |||
Rates considered | 8.78% | |||
-25% [member] | Libor [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Loans and financing | $ (0.3) | |||
Net impact | $ (0.3) | |||
Rates considered | 0.42% | |||
-25% [member] | TJLP [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Rates considered | 4.56% | |||
-25% [member] | IPCA [Member] | ||||
Disclosure of interest risk factor [line items] | ||||
Rates considered | 7.67% | |||
Probable scenario [member] | Interbank deposit certificate CDI rate [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Cash equivalents and financial investments | $ 1.9 | |||
Loans and financing | 0.1 | |||
Net impact | $ 2 | |||
Rates considered | 11.70% | |||
Probable scenario [member] | Libor [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Loans and financing | $ (1) | |||
Net impact | $ (1) | |||
Rates considered | 0.56% | |||
Probable scenario [member] | TJLP [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Rates considered | 6.08% | |||
Probable scenario [member] | IPCA [Member] | ||||
Disclosure of interest risk factor [line items] | ||||
Rates considered | 10.23% | |||
+25% [member] | Interbank deposit certificate CDI rate [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Cash equivalents and financial investments | $ 4.1 | |||
Loans and financing | 0.2 | |||
Net impact | $ 4.3 | |||
Rates considered | 14.63% | |||
+25% [member] | Libor [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Loans and financing | $ (1.7) | |||
Net impact | $ (1.7) | |||
Rates considered | 0.69% | |||
+25% [member] | TJLP [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Rates considered | 7.60% | |||
+25% [member] | IPCA [Member] | ||||
Disclosure of interest risk factor [line items] | ||||
Rates considered | 12.78% | |||
+50% [member] | Interbank deposit certificate CDI rate [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Cash equivalents and financial investments | $ 6.3 | |||
Loans and financing | 0.3 | |||
Net impact | $ 6.6 | |||
Rates considered | 17.55% | |||
+50% [member] | Libor [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Loans and financing | $ (2.3) | |||
Net impact | $ (2.3) | |||
Rates considered | 0.83% | |||
+50% [member] | TJLP [member] | ||||
Disclosure of interest risk factor [line items] | ||||
Rates considered | 9.12% | |||
+50% [member] | IPCA [Member] | ||||
Disclosure of interest risk factor [line items] | ||||
Rates considered | 15.34% |
Financial Instruments - Summa_9
Financial Instruments - Summary of Interest Risk Factor (Parenthetical) (Detail) - Interest rate risk one [member] | 12 Months Ended |
Dec. 31, 2021 | |
Bottom of range [member] | |
Disclosure of interest risk factor [line items] | |
Risk Variable | 25.00% |
Top of range [member] | |
Disclosure of interest risk factor [line items] | |
Risk Variable | 50.00% |
Financial Instruments - Summ_10
Financial Instruments - Summary of Foreign Exchange Risk Factor (Detail) $ in Millions | 12 Months Ended | |
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | $ 3,491.8 | $ 3,524.6 |
Liabilities | 5,160.2 | $ 5,660.4 |
BRL [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | 402.6 | |
Liabilities | (327) | |
Net impact | $ 75.6 | |
Exchange rate considered | 5.5805 | |
BRL [member] | Loans And Financing [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | $ (18.3) | |
BRL [member] | Other Liabilities [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | (308.7) | |
BRL [member] | Cash and cash equivalents and financial [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | 94.9 | |
BRL [member] | Other financial asset [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | 307.7 | |
-50% [member] | BRL [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | 200.6 | |
Liabilities | (162.9) | |
Net impact | $ 37.7 | |
Exchange rate considered | 2.8000 | |
-50% [member] | BRL [member] | Loans And Financing [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | $ (9.1) | |
-50% [member] | BRL [member] | Other Liabilities [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | (153.8) | |
-50% [member] | BRL [member] | Cash and cash equivalents and financial [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | 47.3 | |
-50% [member] | BRL [member] | Other financial asset [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | 153.3 | |
-25% [member] | BRL [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | 99.6 | |
Liabilities | (80.9) | |
Net impact | $ 18.7 | |
Exchange rate considered | 4.2000 | |
-25% [member] | BRL [member] | Loans And Financing [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | $ (4.5) | |
-25% [member] | BRL [member] | Other Liabilities [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | (76.4) | |
-25% [member] | BRL [member] | Cash and cash equivalents and financial [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | 23.5 | |
-25% [member] | BRL [member] | Other financial asset [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | 76.1 | |
Probable scenario [member] | BRL [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | (1.4) | |
Liabilities | 1.2 | |
Net impact | $ (0.2) | |
Exchange rate considered | 5.6000 | |
Probable scenario [member] | BRL [member] | Loans And Financing [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | $ 0.1 | |
Probable scenario [member] | BRL [member] | Other Liabilities [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | 1.1 | |
Probable scenario [member] | BRL [member] | Cash and cash equivalents and financial [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | (0.3) | |
Probable scenario [member] | BRL [member] | Other financial asset [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | (1.1) | |
+25% [member] | BRL [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | (102.4) | |
Liabilities | 83.2 | |
Net impact | $ (19.2) | |
Exchange rate considered | 7 | |
+25% [member] | BRL [member] | Loans And Financing [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | $ 4.7 | |
+25% [member] | BRL [member] | Other Liabilities [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | 78.5 | |
+25% [member] | BRL [member] | Cash and cash equivalents and financial [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | (24.1) | |
+25% [member] | BRL [member] | Other financial asset [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | (78.3) | |
+50% [member] | BRL [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | (203.4) | |
Liabilities | 165.2 | |
Net impact | $ (38.2) | |
Exchange rate considered | 8.4000 | |
+50% [member] | BRL [member] | Loans And Financing [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | $ 9.2 | |
+50% [member] | BRL [member] | Other Liabilities [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Liabilities | 156 | |
+50% [member] | BRL [member] | Cash and cash equivalents and financial [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | (48) | |
+50% [member] | BRL [member] | Other financial asset [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Assets | $ (155.4) |
Financial Instruments - Summ_11
Financial Instruments - Summary of Foreign Exchange Risk Factor (Parenthetical) (Detail) - Foreign exchange risk [member] | 12 Months Ended |
Dec. 31, 2021 | |
Bottom of range [member] | |
Disclosure of Foreign Exchange Risk Factor [Line items] | |
Risk Variable | 25.00% |
Top of range [member] | |
Disclosure of Foreign Exchange Risk Factor [Line items] | |
Risk Variable | 50.00% |
Financial Instruments - Summ_12
Financial Instruments - Summary of Derivative Contracts (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ (6.8) |
Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 0.00% |
Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 113.26% |
Interest swap-fair value hedge [member] | Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ (1.1) |
Interest swap [member] | Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | (5.7) |
-50% [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ 98.3 |
-50% [member] | Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 0.00% |
-50% [member] | Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 56.00% |
-50% [member] | Interest swap-fair value hedge [member] | Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ 50.2 |
-50% [member] | Interest swap [member] | Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | 48.1 |
-25% [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ 38.5 |
-25% [member] | Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 0.00% |
-25% [member] | Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 84.00% |
-25% [member] | Interest swap-fair value hedge [member] | Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ 18.9 |
-25% [member] | Interest swap [member] | Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | 19.6 |
Probable scenario [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ 3.2 |
Probable scenario [member] | Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 0.00% |
Probable scenario [member] | Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 112.00% |
Probable scenario [member] | Interest swap-fair value hedge [member] | Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ (0.1) |
Probable scenario [member] | Interest swap [member] | Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | 3.3 |
+25% [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ (30.8) |
+25% [member] | Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 0.00% |
+25% [member] | Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 140.00% |
+25% [member] | Interest swap-fair value hedge [member] | Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ (18.5) |
+25% [member] | Interest swap [member] | Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | (12.3) |
+50% [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ (89.7) |
+50% [member] | Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 0.00% |
+50% [member] | Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Rate considered | 168.00% |
+50% [member] | Interest swap-fair value hedge [member] | Interbank deposit certificate CDI rate [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ (49.3) |
+50% [member] | Interest swap [member] | Libor [member] | |
Disclosure of Derivative Contracts [Line items] | |
Derivative contract | $ (40.4) |
Financial Instruments - Summ_13
Financial Instruments - Summary of Derivative Contracts (Parenthetical) (Detail) - Derivative contract [member] | 12 Months Ended |
Dec. 31, 2021 | |
Bottom of range [member] | |
Disclosure of Derivative Contracts [Line items] | |
Risk Variable | 25.00% |
Top of range [member] | |
Disclosure of Derivative Contracts [Line items] | |
Risk Variable | 50.00% |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) R$ in Millions, $ in Millions | 12 Months Ended | ||||||||
Dec. 31, 2021USD ($)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2020BRL (R$) | Dec. 31, 2019USD ($) | Dec. 31, 2018 | Dec. 31, 2021BRL (R$)shares | Dec. 31, 2020BRL (R$)shares | Jan. 01, 2020USD ($) | Jan. 01, 2020BRL (R$) | |
Shareholders equity [line items] | |||||||||
Common shares authorized | shares | 1,000,000,000 | 1,000,000,000 | |||||||
Subscribed and paid up capital | $ 1,551.6 | $ 1,551.6 | $ 1,551.6 | ||||||
Subscribed and paid up capital, shares | shares | 740,465,044 | 740,465,044 | |||||||
Shares held in Treasury | shares | 5,832,238 | 4,291,938 | 5,832,238 | 4,291,938 | |||||
Description of common stock voting right | each common share generally empowered with one vote at general shareholders’ meeting, considering that no shareholder or group of shareholders, may exercise votes representing more than 5% of the quantity of shares into which our capital stock is divided. Votes that exceed this 5% threshold will not be considered. | ||||||||
Amount of shares held in Treasury | $ 28.2 | $ 25.7 | 26.5 | ||||||
Market value of treasury shares | $ 25.9 | $ 7.3 | |||||||
Percentage of net profit on statutory reserve | 5.00% | 5.00% | 5.00% | 5.00% | |||||
Percentage of reserve on capital | 20.00% | 20.00% | 20.00% | ||||||
Percentage of reserve on capital and capital reserve | 30.00% | 30.00% | 30.00% | ||||||
Revenue reserves | $ 1,301.5 | $ 1,377.8 | 2,110 | R$ 2595.4 | |||||
Amount available for distribution | $ 1,856.7 | R$ 2058.2 | |||||||
Losses attributable to owners of Embraer | 44.7 | 731.9 | $ 322.3 | ||||||
Retained losses | R$ | R$ 1423.0 | R$ 1021.0 | |||||||
StatutoryReserveAvailableForDistribution | $ 1,048.1 | $ 1,124.4 | |||||||
Translated Amounts Of Retained Losses | R$ | R$ 274.8 | ||||||||
Top of range [member] | |||||||||
Shareholders equity [line items] | |||||||||
Percentage of reserve on capital | 20.00% | ||||||||
Percentage of reserve on capital and capital reserve | 30.00% | ||||||||
Losses attributable to owners of Embraer | R$ | R$ 3616.0 |
Shareholders' Equity - Schedule
Shareholders' Equity - Schedule of Treasury Shares (Detail) $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($)$ / sharesshares | |
Shareholders Equity[abstract] | |
Beginning balance | $ 25.7 |
Repurchase of shares in the period | 2.5 |
Ending balance | $ 28.2 |
Quantity, Beginning balance | shares | 4,291,938 |
Quantity, Repurchase of shares in the period | shares | 1,540,300 |
Quantity, Ending balance | shares | 5,832,238 |
Share value, Beginning balance | $ / shares | $ 6 |
Share value, Repurchase of shares in the period | $ / shares | 1.6 |
Share value, Ending balance | $ / shares | $ 4.8 |
Net income of uses, Beginning balance | $ 0 |
Net income of uses, Repurchase of shares in the period | 0 |
Net income of uses, Ending balance | $ 0 |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share based compensation | The Company’s LTI current policy is comprised of share-based compensation settled in cash |
Number of trading days | 30 trading days |
Restricted virtual shares [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Percentage of third anniversary grant date | 33.00% |
Percentage of fourth anniversary grant date | 33.00% |
Percentage of fifth anniversary grant date | 34.00% |
Phantom Share Plans [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Number of trading days | 10 trading days |
Share-based Compensation - Disc
Share-based Compensation - Disclosure of Number and Weighted Average Exercise Prices of Share Options (Detail) R$ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2021USD ($)Aircraft | Dec. 31, 2021BRL (R$)Aircraft | Dec. 31, 2020USD ($)Aircraft | Dec. 31, 2020BRL (R$)Aircraft | |
Grants on March 10, 2016 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant date | March 10, 2016 | March 10, 2016 | ||
Grants on June 09, 2016 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant date | June 09, 2016 | June 09, 2016 | ||
Grants on August 25, 2016 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant date | August 25, 2016 | August 25, 2016 | ||
Grants on August 24, 2017 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant date | August 24, 2017 | August 24, 2017 | August 24, 2017 | August 24, 2017 |
Grants on April 12, 2018 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant date | April 12, 2018 | April 12, 2018 | April 12, 2018 | April 12, 2018 |
Grants on March 12, 2019 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant date | March 12, 2019 | March 12, 2019 | March 12, 2019 | March 12, 2019 |
Grants on March 24, 2020 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant date | March 24, 2020 | March 24, 2020 | March 24, 2020 | March 24, 2020 |
Grants on November 13, 2020 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant date | November 13, 2020 | November 13, 2020 | November 13, 2020 | November 13, 2020 |
Grants on March 18, 2021 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant date | March 18, 2021 | March 18, 2021 | ||
Restricted virtual shares [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant value | $ | $ 180.1 | $ 188.8 | ||
Amount of virtual stock | 14,826,623 | 14,826,623 | 13,867,873 | 13,867,873 |
Restricted virtual shares [member] | Grants on March 10, 2016 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant value | $ | $ 31.1 | |||
Amount of virtual stock | 1,095,720 | 1,095,720 | ||
Restricted virtual shares [member] | Grants on June 09, 2016 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant value | $ | $ 1.1 | |||
Amount of virtual stock | 55,994 | 55,994 | ||
Restricted virtual shares [member] | Grants on August 25, 2016 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant value | $ | $ 1.1 | |||
Amount of virtual stock | 70,978 | 70,978 | ||
Restricted virtual shares [member] | Grants on August 24, 2017 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant value | $ | $ 30.5 | $ 30.5 | ||
Amount of virtual stock | 1,930,350 | 1,930,350 | 1,930,350 | 1,930,350 |
Restricted virtual shares [member] | Grants on April 12, 2018 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant value | $ | $ 35.2 | $ 35.2 | ||
Amount of virtual stock | 1,622,986 | 1,622,986 | 1,622,986 | 1,622,986 |
Restricted virtual shares [member] | Grants on March 12, 2019 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant value | $ | $ 22.4 | $ 22.4 | ||
Amount of virtual stock | 1,160,552 | 1,160,552 | 1,160,552 | 1,160,552 |
Restricted virtual shares [member] | Grants on March 24, 2020 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant value | $ | $ 23.8 | $ 23.8 | ||
Amount of virtual stock | 1,401,293 | 1,401,293 | 1,401,293 | 1,401,293 |
Restricted virtual shares [member] | Grants on November 13, 2020 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant value | $ | $ 43.6 | $ 43.6 | ||
Amount of virtual stock | 6,530,000 | 6,530,000 | 6,530,000 | 6,530,000 |
Restricted virtual shares [member] | Grants on March 18, 2021 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Grant value | $ | $ 24.6 | |||
Amount of virtual stock | 2,181,442 | 2,181,442 | ||
Virtual performance shares [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Amount of virtual stock | 5,132,048 | 5,132,048 | 2,898,302 | 2,898,302 |
Fair value of shares | $ 21.5 | R$ 111.7 | $ 5 | R$ 26.1 |
Virtual performance shares [member] | Grants on March 10, 2016 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Amount of virtual stock | 115,308 | 115,308 | ||
Fair value of shares | $ 0.2 | R$ 1.0 | ||
Virtual performance shares [member] | Grants on June 09, 2016 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Amount of virtual stock | 7,722 | 7,722 | ||
Fair value of shares | $ 0 | R$ 0.1 | ||
Virtual performance shares [member] | Grants on August 25, 2016 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Amount of virtual stock | 10,659 | 10,659 | ||
Fair value of shares | $ 0 | R$ 0.1 | ||
Virtual performance shares [member] | Grants on August 24, 2017 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Amount of virtual stock | 230,750 | 230,750 | 446,656 | 446,656 |
Fair value of shares | $ 1 | R$ 5.0 | $ 0.8 | R$ 4.0 |
Virtual performance shares [member] | Grants on April 12, 2018 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Amount of virtual stock | 314,552 | 314,552 | 996,805 | 996,805 |
Fair value of shares | $ 1.3 | R$ 6.8 | $ 1.7 | R$ 9.0 |
Virtual performance shares [member] | Grants on March 12, 2019 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Amount of virtual stock | 885,237 | 885,237 | 613,695 | 613,695 |
Fair value of shares | $ 3.7 | R$ 19.3 | $ 1.1 | R$ 5.5 |
Virtual performance shares [member] | Grants on March 24, 2020 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Amount of virtual stock | 710,127 | 710,127 | 344,679 | 344,679 |
Fair value of shares | $ 3 | R$ 15.5 | $ 0.6 | R$ 3.1 |
Virtual performance shares [member] | Grants on November 13, 2020 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Amount of virtual stock | 2,399,444 | 2,399,444 | 362,778 | 362,778 |
Fair value of shares | $ 10 | R$ 52.2 | $ 0.6 | R$ 3.3 |
Virtual performance shares [member] | Grants on March 18, 2021 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Amount of virtual stock | 591,938 | 591,938 | ||
Fair value of shares | $ 2.5 | R$ 12.9 |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Earnings per share [line items] | |||
Losses attributable to owners of Embraer | $ (44.7) | $ (731.9) | $ (322.3) |
Net income attributable to owners of Embraer | $ (44.7) | $ (731.9) | $ (322.3) |
Weighted average number of shares (in thousands) | 734,730 | 736,164 | 735,850 |
Basic earnings per share - U.S. dollars | $ (0.06) | $ (0.99) | $ (0.44) |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Earnings per share [abstract] | |||
Number of anti-dilutive effect | 0 | 0 | |
Antidilutive securities excluded from the computation of earnings per share | 93,025 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - Summary of Revenue Disaggregation (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | $ 4,197.2 | $ 3,771.1 | $ 5,462.6 |
North America [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 2,168.2 | 2,532.5 | 3,345.6 |
Latin America, except Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 37.8 | 76 | 76.4 |
Asia Pacific [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 209.6 | 161.6 | 377 |
Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 478.6 | 383 | 603.3 |
Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 1,116.7 | 544 | 923.7 |
Others [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 186.3 | 74 | 136.6 |
Commercial Aviation [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 1,316.4 | 1,114.4 | 2,234.4 |
Defense and Security [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 594.4 | 653.9 | 576.3 |
Executive Jets [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 1,130.1 | 1,071.5 | 1,397 |
Service and support [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 1,132.2 | 920 | 1,245.7 |
All Other Segments [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 24.1 | 11.3 | 9.2 |
Aircraft [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 2,578.2 | 2,366.2 | 3,592.3 |
Aircraft [member] | North America [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 1,525.3 | 1,962.7 | 2,549 |
Aircraft [member] | Latin America, except Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 4.1 | 49.7 | 21.3 |
Aircraft [member] | Asia Pacific [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 102.8 | 77.1 | 272 |
Aircraft [member] | Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 79.5 | 6.9 | 59.1 |
Aircraft [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 731.2 | 237.7 | 614.3 |
Aircraft [member] | Others [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 135.3 | 32.1 | 76.6 |
Aircraft [member] | Commercial Aviation [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 1,313.2 | 1,103.7 | 2,184.7 |
Aircraft [member] | Defense and Security [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 148.8 | 239.5 | 89.9 |
Aircraft [member] | Executive Jets [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 1,098.7 | 1,015.3 | 1,311.9 |
Aircraft [member] | Service and support [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0 | 0.2 |
Aircraft [member] | All Other Segments [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 17.5 | 7.7 | 5.6 |
Long-term contracts (Defense BU) [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 320.6 | 296.9 | 399.1 |
Long-term contracts (Defense BU) [member] | North America [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0 | 0.1 |
Long-term contracts (Defense BU) [member] | Latin America, except Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0.3 | 1.3 |
Long-term contracts (Defense BU) [member] | Asia Pacific [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0.1 | 2.1 |
Long-term contracts (Defense BU) [member] | Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 202.4 | 230.9 | 378.8 |
Long-term contracts (Defense BU) [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 117.5 | 64.9 | 13.5 |
Long-term contracts (Defense BU) [member] | Others [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0.7 | 0.7 | 3.3 |
Long-term contracts (Defense BU) [member] | Commercial Aviation [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0 | 0 |
Long-term contracts (Defense BU) [member] | Defense and Security [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 320.6 | 296.9 | 397.9 |
Long-term contracts (Defense BU) [member] | Executive Jets [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0 | 0 |
Long-term contracts (Defense BU) [member] | Service and support [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0 | 1.2 |
Long-term contracts (Defense BU) [member] | All Other Segments [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0 | 0 |
Others [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 67.9 | 92.8 | 151.5 |
Others [member] | North America [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 30.2 | 61 | 98.6 |
Others [member] | Latin America, except Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0.4 | 0.4 | 19.2 |
Others [member] | Asia Pacific [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 3.7 | 8.6 | 5.7 |
Others [member] | Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 22.9 | 13.3 | 8.6 |
Others [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 9.8 | 5 | 12.5 |
Others [member] | Others [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0.9 | 4.5 | 6.9 |
Others [member] | Commercial Aviation [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 3.2 | 10.7 | 49.7 |
Others [member] | Defense and Security [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 23.2 | 19.9 | 16 |
Others [member] | Executive Jets [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 31.4 | 56.2 | 85.1 |
Others [member] | Service and support [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 8.7 | 4.9 | 0.7 |
Others [member] | All Other Segments [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 1.4 | 1.1 | 0 |
Service [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 883.5 | 786.4 | 882.8 |
Service [member] | North America [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 417.8 | 385.6 | 437.5 |
Service [member] | Latin America, except Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 20.9 | 22.4 | 26.6 |
Service [member] | Asia Pacific [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 72.9 | 56.4 | 72.6 |
Service [member] | Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 129.7 | 91.9 | 101.3 |
Service [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 203.3 | 198.7 | 205.1 |
Service [member] | Others [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 38.9 | 31.4 | 39.7 |
Service [member] | Commercial Aviation [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0 | 0 |
Service [member] | Defense and Security [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 87.9 | 73.7 | 65.2 |
Service [member] | Executive Jets [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0 | 0 |
Service [member] | Service and support [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 795.6 | 712.7 | 817.5 |
Service [member] | All Other Segments [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0 | 0.1 |
Spare Parts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 347 | 228.8 | 436.9 |
Spare Parts [member] | North America [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 194.9 | 123.2 | 260.4 |
Spare Parts [member] | Latin America, except Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 12.4 | 3.2 | 8 |
Spare Parts [member] | Asia Pacific [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 30.2 | 19.4 | 24.6 |
Spare Parts [member] | Brazil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 44.1 | 40 | 55.5 |
Spare Parts [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 54.9 | 37.7 | 78.3 |
Spare Parts [member] | Others [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 10.5 | 5.3 | 10.1 |
Spare Parts [member] | Commercial Aviation [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0 | 0 |
Spare Parts [member] | Defense and Security [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 13.9 | 23.9 | 7.3 |
Spare Parts [member] | Executive Jets [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 0 | 0 | 0 |
Spare Parts [member] | Service and support [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 327.9 | 202.4 | 426.1 |
Spare Parts [member] | All Other Segments [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | $ 5.2 | $ 2.5 | $ 3.5 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - Summary of Contract balances, including contract costs (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Contract assets | $ 582.3 | $ 461.8 |
Contract liabilities | 1,513.3 | 1,295.4 |
Advances from customers - Aircraft and Defense long-term contracts | 1,312.4 | 1,049.3 |
Deferred revenue - Parts and services | $ 200.9 | $ 246.1 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | $ 4,197.2 | $ 3,771.1 | $ 5,462.6 |
Contract assets | 582.3 | 461.8 | |
Allowance of credit losses on Contract Asset | 2.5 | ||
Revenue Cumulative Adjustment [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Contract assets | 40.9 | 112.4 | |
Performance obligations satisfied partially [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 17,000 | 14,400 | |
Performance obligations expected to be satisfied in next five years [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | 14,000 | $ 10,700 | |
Contract Liabilities [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
REVENUE | $ 558,800 |
Revenue (Expenses) by Type - Su
Revenue (Expenses) by Type - Summary of Revenue Expenses (Detail) - USD ($) $ in Millions | Nov. 11, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule of Revenue (Expense) [Line Items] | ||||
Revenue | $ 4,197.2 | $ 3,771.1 | $ 5,462.6 | |
Cost of sales and services | (3,537.6) | (3,293.5) | (4,667.1) | |
Administrative | (153.2) | (143.4) | (190.2) | |
Selling | (226.4) | (194) | (286.5) | |
Expected credit loss (reversal) over financial assets and contract assets | 13 | (61.8) | 0.6 | |
Research | (43) | (29.8) | (49.4) | |
Other operating expense, net | $ 45.1 | (49.8) | (374.7) | (346.8) |
Equity in income of associates | 1.1 | 2.7 | (0.2) | |
Operating profit before financial income | 201.3 | (323.4) | (77) | |
Revenue (expenses) by nature: | ||||
Revenue from sales of goods | 3,490.1 | 3,194.5 | 4,755.2 | |
Revenue from sales of services | 742.3 | 620.9 | 773.3 | |
Sales deductions and tax on revenue | (35.2) | (44.3) | (65.9) | |
General manufacturing costs | (3,329) | (3,001.4) | (4,457.4) | |
Depreciation | (122) | (163.6) | (113.8) | |
Amortization | (86.6) | (128.5) | (95.9) | |
Personnel expenses | (224.2) | (194.2) | (257.5) | |
Selling expenses | (47.6) | (48.1) | (71.9) | |
Equity in losses on associates | 1.1 | 2.7 | (0.2) | |
Research | (43) | (29.8) | (49.4) | |
Expected credit losses over financial assets and contract assets | 13 | (61.8) | 0.6 | |
Services provided | (82.2) | (74.5) | (93.8) | |
Other operating expense, net | $ 45.1 | (49.8) | (374.7) | (346.8) |
Miscellaneous | (25.6) | (20.6) | (53.5) | |
Operating profit before financial income | $ 201.3 | $ (323.4) | $ (77) |
Other operating expense, Net -
Other operating expense, Net - Disclosure of Other Operating Income Expense (Detail) - USD ($) $ in Millions | Nov. 11, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule of Other Operating Income Expense Net [Line Items] | ||||
Corporate projects | $ (59.4) | $ (56.4) | $ (129) | |
Restructuring expenses | (31.8) | (69.2) | 0 | |
Taxes on other sales | (23.7) | (20.3) | (29.5) | |
Expenses system project | (10.8) | (6.7) | (12.9) | |
Residual value of fixed assets disposed | (10.5) | 0 | 0 | |
Aircraft maintenance and flights costs - fleet | (7.8) | (2.8) | (2.1) | |
Flight safety standards | (3.1) | (3.1) | (4.7) | |
Product modifications | (2.7) | (2.5) | (2.4) | |
Training and development | (1.5) | (4.7) | (6.8) | |
Depreciation and amortization - Commercial Aviation | 0 | (101.2) | 0 | |
Costs with personnel | 0 | (44.8) | 0 | |
Carve-Out Expenses | 0 | (82.8) | (111.3) | |
Additional losses with financial guarantees exercised | 0 | (5.9) | 0 | |
Contractual fines | (1) | (3.9) | (3.5) | |
Reversal of tax provisions | 0 | 8.1 | 26.8 | |
Recovery of expenses | 0 | 12.7 | 26.2 | |
Contractual fines revenue | 7.1 | 15.1 | 31 | |
Other sales | 7.3 | 6.2 | 8.3 | |
Impairment of assets | 11.2 | 4.2 | (104.4) | |
Royalties | 16.5 | 7 | 15.9 | |
Reversal (Provision) for contingencies | 22.1 | (0.3) | (8.1) | |
Fair value changes - Republic Airways shares | 39.1 | (4.1) | 0.7 | |
Others | (0.8) | (19.3) | (41) | |
Other operating income (expense) | $ 45.1 | $ (49.8) | $ (374.7) | $ (346.8) |
Other Operating Income (Expense
Other Operating Income (Expense), Net - Disclosure of Other Operating Income Expense (Parenthetical) (Detail) - USD ($) $ in Millions | Nov. 11, 2021 | Dec. 31, 2021 |
Other operating income expense net [line items] | ||
Impairment losses | $ 0 | |
Assets and liabilities classified as held for sale [member] | ||
Other operating income expense net [line items] | ||
Impairment losses | $ 45.1 | |
Collateralised Loans On Accounts Receivable Trade [member] | ||
Other operating income expense net [line items] | ||
Impairment losses | $ 57.9 |
Financial Expense, Net - Schedu
Financial Expense, Net - Schedule of Financial Income (Expense), Net (Detail) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Financial income: | |||
Interest on cash and cash equivalents and financial investments | $ 17.9 | $ 18.3 | $ 68.2 |
Interest on receivables | 3.1 | 10.6 | 55.4 |
Residual value guarantee | 52 | 3.7 | 0 |
Taxes over financial revenue | (2.2) | (3.9) | (7) |
Phantom shares (LTI) | 0 | 5.1 | 1.5 |
Others | 4 | (4.7) | (1.3) |
Total financial income | 74.8 | 29.1 | 116.8 |
Financial expenses: | |||
Interest on loans and financing | (240.7) | (214.9) | (201.6) |
IOF - (tax on financial transactions) | (0.9) | (9.1) | (1.6) |
Interest on taxes, social charges and contributions | (3.2) | (4.9) | (6.7) |
Residual value guarantee | 0 | 0 | (14.7) |
Financial restructuring costs | (2.4) | 0 | 0 |
Phantom shares (LTI) | (17.7) | 0 | 0 |
Others | (9.3) | (16.1) | (14.7) |
Total financial expenses | (274.2) | (245) | (239.3) |
Derivative financial instruments | 0 | (16.8) | 6.4 |
Financial expenses, net | $ (199.4) | $ (232.7) | $ (116.1) |
Foreign Exchange Gain (Loss),_3
Foreign Exchange Gain (Loss), Net - Schedule of Foreign exchange gain (loss), net (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Assets: | |||
Tax credits | $ (14.2) | $ (33.7) | $ (9.6) |
Trade accounts receivable and contract assets | (1.9) | (37.6) | (8.4) |
Cash and cash equivalents and financial investments | 2.4 | (37.7) | (17.6) |
Other | 4 | (24.3) | 9.8 |
Total Assets | (9.7) | (133.3) | (25.8) |
Liabilities: | |||
Loans and financing | 3.9 | 4.9 | 7.8 |
Advances from customers | (1) | (0.5) | 0 |
Provisions | 12.3 | 34.7 | 14.8 |
Taxes and charges payable | 4 | 12.8 | 2.5 |
Deferred income tax and social contribution | 0 | 0 | 2.4 |
Other payables | 5.9 | (33) | (11.6) |
Suppliers | (2.7) | 19 | 14.8 |
Provisions for contingencies | 3.2 | 18.7 | 5.5 |
Other | 5.5 | (0.4) | (0.1) |
Total Liabilities | 31.1 | 56.2 | 36.1 |
Net monetary and foreign exchange variations | 21.4 | (77.1) | 10.3 |
Derivative financial instruments | 4.1 | (2) | (3.4) |
Foreign exchange gain (loss), net | $ 25.5 | $ (79.1) | $ 6.9 |
Responsibilities and Commitme_2
Responsibilities and Commitments - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Carbon Neutral Operations Achievement Plan One | 50% reduction in net carbon emissions by 2040 from a 2018 baseline | |
Carbon Neutral Operations Achievement Plan Two | 100% energy from renewable sources by 2030 | |
Carbon Neutral Operations Achievement PlanThree | Begin using Sustainable Aviation Fuel (SAF) by 2021 | |
Carbon Neutral Operations Achievement Plan Four | Carbon neutral growth from 2022 (2021 baseline) | |
Net Zero Carbon Emission Operation Plan One | Developing products, services, and disruptive sustainable technologies such as electrification, hybrid, SAF and other innovative energy alternatives | |
Net Zero Carbon Emission Operation Plan Two | Working together with suppliers to make our current aircraft compatible with the use of 100% SAF | |
Net Zero Carbon Emission Operation Plan three | Actively working with the supply chain to expand the global SAF production scale | |
Net Zero Carbon Emission Operation Plan Four | Continuously improving the efficiency of our current portfolio | |
Net Zero Carbon Emission Operation Plan Five | Launch zero-emission eVTOL aircraft by 2026. | |
Financial guarantee contracts [member] | Commercial Aviation [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Insured Amount To Cover Substantial Damage To Assets And Loss Of Earnings | $ 7,000 | |
total exposure | 0 | $ 183.3 |
Payment of financial and residual value guarantees | 49.5 | |
Financial Guarantee And Residual Value Guarantees | 18.7 | |
Current Financial Guarantee And Residual Value Guarantees | $ 15.8 |
Supplemental Cash Flow inform_3
Supplemental Cash Flow information - Summary of Payments Made During Period and Transactions Not Affecting Cash and Cash Equivalents (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Payments made during the period: | |||
Income tax and social contribution | $ 22.5 | $ 86.9 | $ 42.3 |
Interest | 207.4 | 173.2 | 188.1 |
Non-cash financing and investing transactions | |||
Non-controlling purchase options | 17.1 | 22.2 | |
Inventory [member] | |||
Non-cash financing and investing transactions | |||
Acquisition of inventories through assumption of financing | 14.1 | ||
Write off on Property, plant and equipment by transfer to pool parts inventory | $ (23.2) | (18.2) | (21.6) |
Property, plant and equipment, transfer for providing for the sale of inventory | (38.4) | $ (38.5) | |
Non-controlling purchase options | $ 22.2 |
Segment Information - Summary o
Segment Information - Summary of Income Data By Operating Segments (Detail) - USD ($) $ in Millions | Nov. 11, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of operating segments [line items] | ||||
Revenue | $ 4,197.2 | $ 3,771.1 | $ 5,462.6 | |
Cost of sales and services | (3,537.6) | (3,293.5) | (4,667.1) | |
Gross Profit | $ 659.6 | $ 477.6 | $ 795.5 | |
Gross profit % | 15.70% | 12.70% | 14.60% | |
Operating income (expense) | $ (458.3) | $ (801) | $ (872.5) | |
Operating profit before financial income (expense) | 201.3 | (323.4) | (77) | |
Financial income (expense), net | (199.4) | (232.7) | (116.1) | |
Foreign exchange gain (loss), net | 25.5 | (79.1) | 6.9 | |
Loss before taxes on income | 27.4 | (635.2) | (186.2) | |
Income tax expense | $ (5) | (70.9) | (93.1) | (130.3) |
Loss for the period | (43.5) | (728.3) | (316.5) | |
Operating Segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 4,197.2 | 3,771.1 | $ 5,462.6 | |
Operating Segments [member] | Unallocated [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross profit % | 0.00% | |||
Operating income (expense) | (69) | (69.2) | ||
Operating profit before financial income (expense) | (69) | (69.2) | ||
Financial income (expense), net | (199.4) | (232.7) | $ (116.1) | |
Foreign exchange gain (loss), net | 25.5 | (79.1) | 6.9 | |
Income tax expense | (70.9) | (93.1) | (130.3) | |
Commercial Aviation [Member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 1,316.4 | 1,114.4 | 2,234.4 | |
Cost of sales and services | (1,263.9) | (1,086.8) | (1,971.1) | |
Gross Profit | $ 52.5 | $ 27.6 | $ 263.3 | |
Gross profit % | 4.00% | 2.50% | 11.80% | |
Operating income (expense) | $ (57.1) | $ (300.8) | $ (332.2) | |
Operating profit before financial income (expense) | (4.6) | (273.2) | (68.9) | |
Commercial Aviation [Member] | Operating Segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 1,316.4 | 1,114.4 | 2,234.4 | |
Defense and Security [Member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 594.4 | 653.9 | 576.3 | |
Cost of sales and services | (488.4) | (549.1) | (539.6) | |
Gross Profit | $ 106 | $ 104.8 | $ 36.7 | |
Gross profit % | 17.80% | 16.00% | 6.40% | |
Operating income (expense) | $ (89) | $ (72.2) | $ (98.7) | |
Operating profit before financial income (expense) | 17 | 32.6 | (62) | |
Defense and Security [Member] | Operating Segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 594.4 | 653.9 | 576.3 | |
Executive Jets [Member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 1,130.1 | 1,071.5 | 1,397 | |
Cost of sales and services | (923.4) | (886.1) | (1,211.1) | |
Gross Profit | $ 206.7 | $ 185.4 | $ 185.9 | |
Gross profit % | 18.30% | 17.30% | 13.30% | |
Operating income (expense) | $ (76.9) | $ (95.5) | $ (235.2) | |
Operating profit before financial income (expense) | 129.8 | 89.9 | (49.3) | |
Executive Jets [Member] | Operating Segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 1,130.1 | 1,071.5 | 1,397 | |
Service and support [Member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 1,132.2 | 920 | 1,245.7 | |
Cost of sales and services | (827.6) | (751.4) | (927.4) | |
Gross Profit | $ 304.6 | $ 168.6 | $ 318.3 | |
Gross profit % | 26.90% | 18.30% | 25.60% | |
Operating income (expense) | $ (143.2) | $ (240.7) | $ (188.3) | |
Operating profit before financial income (expense) | 161.4 | (72.1) | 130 | |
Service and support [Member] | Operating Segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 1,132.2 | 920 | 1,245.7 | |
All Other Segments [Member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 24.1 | 11.3 | 9.2 | |
Cost of sales and services | (34.3) | (20.1) | (17.9) | |
Gross Profit | $ (10.2) | $ (8.8) | $ (8.7) | |
Gross profit % | (42.30%) | (77.90%) | (94.60%) | |
Operating income (expense) | $ (23.1) | $ (22.6) | $ (18.1) | |
Operating profit before financial income (expense) | (33.3) | (31.4) | (26.8) | |
All Other Segments [Member] | Operating Segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 24.1 | 11.3 | 9.2 | |
Total reportable Segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 4,197.2 | 3,771.1 | 5,462.6 | |
Cost of sales and services | (3,537.6) | (3,293.5) | (4,667.1) | |
Gross Profit | $ 659.6 | $ 477.6 | $ 795.5 | |
Gross profit % | 15.70% | 12.70% | 14.60% | |
Operating income (expense) | $ (389.3) | $ (731.8) | $ (872.5) | |
Operating profit before financial income (expense) | $ 270.3 | $ (254.2) | $ (77) |
Segment Information - Summary_2
Segment Information - Summary of Revenue by Geographic Area (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of geographical areas [line items] | |||
REVENUE | $ 4,197.2 | $ 3,771.1 | $ 5,462.6 |
North America [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 2,168.2 | 2,532.5 | 3,345.6 |
Europe [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 1,116.7 | 544 | 923.7 |
Asia Pacific [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 209.6 | 161.6 | 377 |
Latin America, except Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 37.8 | 76 | 76.4 |
Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 478.6 | 383 | 603.3 |
Others [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 186.3 | 74 | 136.6 |
Operating Segments [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 4,197.2 | 3,771.1 | 5,462.6 |
Operating Segments [member] | North America [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 2,168.2 | 2,532.5 | 3,345.6 |
Operating Segments [member] | Europe [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 1,116.7 | 544 | 923.7 |
Operating Segments [member] | Asia Pacific [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 209.6 | 161.6 | 377 |
Operating Segments [member] | Latin America, except Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 37.8 | 76 | 76.4 |
Operating Segments [member] | Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 478.6 | 383 | 603.3 |
Operating Segments [member] | Others [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 186.3 | 74 | 136.6 |
Commercial Aviation [Member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 1,316.4 | 1,114.4 | 2,234.4 |
Commercial Aviation [Member] | Operating Segments [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 1,316.4 | 1,114.4 | 2,234.4 |
Commercial Aviation [Member] | Operating Segments [member] | North America [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 687.6 | 858.4 | 1,399.8 |
Commercial Aviation [Member] | Operating Segments [member] | Europe [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 494.5 | 215.4 | 508.2 |
Commercial Aviation [Member] | Operating Segments [member] | Asia Pacific [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 3.3 | 4.8 | 256.9 |
Commercial Aviation [Member] | Operating Segments [member] | Latin America, except Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 0 | 0.4 | 17 |
Commercial Aviation [Member] | Operating Segments [member] | Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 1.8 | 3 | 0.7 |
Commercial Aviation [Member] | Operating Segments [member] | Others [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 129.2 | 32.4 | 51.8 |
Defense and Security [Member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 594.4 | 653.9 | 576.3 |
Defense and Security [Member] | Operating Segments [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 594.4 | 653.9 | 576.3 |
Defense and Security [Member] | Operating Segments [member] | North America [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 58.1 | 108.8 | 66.5 |
Defense and Security [Member] | Operating Segments [member] | Europe [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 158.7 | 108.4 | 39 |
Defense and Security [Member] | Operating Segments [member] | Asia Pacific [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 80.8 | 81.6 | 1.8 |
Defense and Security [Member] | Operating Segments [member] | Latin America, except Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 3 | 49.2 | 2.7 |
Defense and Security [Member] | Operating Segments [member] | Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 285.8 | 297.6 | 431.8 |
Defense and Security [Member] | Operating Segments [member] | Others [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 8 | 8.3 | 34.5 |
Executive Jets [Member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 1,130.1 | 1,071.5 | 1,397 |
Executive Jets [Member] | Operating Segments [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 1,130.1 | 1,071.5 | 1,397 |
Executive Jets [Member] | Operating Segments [member] | North America [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 807.2 | 1,054.4 | 1,181.6 |
Executive Jets [Member] | Operating Segments [member] | Europe [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 229.1 | 17.1 | 118.8 |
Executive Jets [Member] | Operating Segments [member] | Asia Pacific [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 27.6 | 0 | 20.3 |
Executive Jets [Member] | Operating Segments [member] | Latin America, except Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 4.1 | 0 | 21.6 |
Executive Jets [Member] | Operating Segments [member] | Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 62.1 | 0 | 54.7 |
Service and Support [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 1,132.2 | 920 | 1,245.7 |
Service and Support [member] | Operating Segments [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 1,132.2 | 920 | 1,245.7 |
Service and Support [member] | Operating Segments [member] | North America [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 614 | 509.7 | 697 |
Service and Support [member] | Operating Segments [member] | Europe [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 234.4 | 203.1 | 257.7 |
Service and Support [member] | Operating Segments [member] | Asia Pacific [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 97.9 | 75.2 | 98 |
Service and Support [member] | Operating Segments [member] | Latin America, except Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 30.7 | 26.4 | 35.1 |
Service and Support [member] | Operating Segments [member] | Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 106.1 | 72.3 | 107.6 |
Service and Support [member] | Operating Segments [member] | Others [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 49.1 | 33.3 | 50.3 |
All Other Segments [Member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 24.1 | 11.3 | 9.2 |
All Other Segments [Member] | Operating Segments [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 24.1 | 11.3 | 9.2 |
All Other Segments [Member] | Operating Segments [member] | North America [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | 1.3 | 1.2 | 0.7 |
All Other Segments [Member] | Operating Segments [member] | Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
REVENUE | $ 22.8 | $ 10.1 | $ 8.5 |
Segment Information - Summary_3
Segment Information - Summary of Assets by Operating Segment (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of geographical areas [line items] | ||||
Trade accounts receivable | $ 189 | $ 203.4 | ||
Property, plant and equipment | 1,687.6 | 1,956 | $ 968.9 | $ 1,964.7 |
Intangible assets | 2,213.4 | 2,075.6 | $ 894.1 | $ 1,898.8 |
Total | 4,090 | 4,235 | ||
Operating Segments [member] | ||||
Disclosure of geographical areas [line items] | ||||
Trade accounts receivable | 189 | 203.4 | ||
Property, plant and equipment | 1,687.6 | 1,956 | ||
Intangible assets | 2,213.4 | 2,075.6 | ||
Total | 4,090 | 4,235 | ||
Operating Segments [member] | Unallocated [member] | ||||
Disclosure of geographical areas [line items] | ||||
Intangible assets | 76.8 | 96.2 | ||
Total | 76.8 | 96.2 | ||
Commercial Aviation [Member] | ||||
Disclosure of geographical areas [line items] | ||||
Trade accounts receivable | 0 | 2.4 | ||
Property, plant and equipment | 498.2 | 821.7 | ||
Intangible assets | 1,154.1 | 1,065.5 | ||
Total | 1,652.3 | 1,889.6 | ||
Defense and Security [Member] | ||||
Disclosure of geographical areas [line items] | ||||
Trade accounts receivable | 32.7 | 50.5 | ||
Property, plant and equipment | 253.8 | 216.6 | ||
Intangible assets | 11.8 | 8.4 | ||
Total | 298.3 | 275.5 | ||
Executive Jets [Member] | ||||
Disclosure of geographical areas [line items] | ||||
Trade accounts receivable | 0 | |||
Property, plant and equipment | 344.9 | 322.2 | ||
Intangible assets | 788 | 750.5 | ||
Total | 1,132.9 | 1,072.7 | ||
Service and Support [member] | ||||
Disclosure of geographical areas [line items] | ||||
Trade accounts receivable | 152.3 | 146 | ||
Property, plant and equipment | 589.7 | 595.5 | ||
Total | 742 | 741.5 | ||
All Other Segments [Member] | ||||
Disclosure of geographical areas [line items] | ||||
Trade accounts receivable | 4 | 4.5 | ||
Property, plant and equipment | 1 | |||
Intangible assets | 182.7 | 155 | ||
Total | 187.7 | 159.5 | ||
Total reportable Segments [member] | ||||
Disclosure of geographical areas [line items] | ||||
Trade accounts receivable | 189 | 203.4 | ||
Property, plant and equipment | 1,687.6 | 1,956 | ||
Intangible assets | 2,136.6 | 1,979.4 | ||
Total | $ 4,013.2 | $ 4,138.8 |
Segment Information - Summary_4
Segment Information - Summary of Assets by Geographical Area (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of operating segments [line items] | ||||
Trade accounts receivable, net | $ 189 | $ 203.4 | ||
Property, plant and equipment | 1,687.6 | 1,956 | $ 968.9 | $ 1,964.7 |
Intangible assets | 2,213.4 | 2,075.6 | $ 894.1 | $ 1,898.8 |
Total | 4,090 | 4,235 | ||
Operating Segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Trade accounts receivable, net | 189 | 203.4 | ||
Property, plant and equipment | 1,687.6 | 1,956 | ||
Intangible assets | 2,213.4 | 2,075.6 | ||
Total | 4,090 | 4,235 | ||
Operating Segments [member] | North America [member] | ||||
Disclosure of operating segments [line items] | ||||
Trade accounts receivable, net | 44.6 | 53.9 | ||
Property, plant and equipment | 337.7 | 347.6 | ||
Intangible assets | 96.6 | 82.8 | ||
Total | 478.9 | 484.3 | ||
Operating Segments [member] | Europe [member] | ||||
Disclosure of operating segments [line items] | ||||
Trade accounts receivable, net | 49.3 | 61.5 | ||
Property, plant and equipment | 305.9 | 541.5 | ||
Intangible assets | 43.2 | 27.3 | ||
Total | 398.4 | 630.3 | ||
Operating Segments [member] | Asia Pacific [member] | ||||
Disclosure of operating segments [line items] | ||||
Trade accounts receivable, net | 44 | 5 | ||
Property, plant and equipment | 44.4 | 42.6 | ||
Total | 88.4 | 47.6 | ||
Operating Segments [member] | Brazil [member] | ||||
Disclosure of operating segments [line items] | ||||
Trade accounts receivable, net | 51.1 | 83 | ||
Property, plant and equipment | 999.6 | 1,024.3 | ||
Intangible assets | 2,073.6 | 1,965.5 | ||
Total | $ 3,124.3 | $ 3,072.8 |
Subsequent events - Additional
Subsequent events - Additional Information (Detail) $ in Millions | Mar. 01, 2022USD ($) | Feb. 18, 2022Seats | Dec. 31, 2021 |
Senior Unsecured Notes [member] | |||
Disclosure of Events After Reporting Period [line items] | |||
Repurchase of long-term debt principal amount outstanding | $ 59.2 | ||
Cancellation of long-term debt principal amount outstanding | $ 228.6 | ||
E175 E2 [member] | |||
Disclosure of Events After Reporting Period [line items] | |||
Property plant and equipment under development period | three-year | ||
Aircraft number of seats | Seats | 76 | ||
EmbraerSA [member] | |||
Disclosure of Events After Reporting Period [line items] | |||
Senior unsecured notes due, percentage | 5.15% | ||
Senior unsecured notes due, period | 2022 | ||
Embraer Overseas Limited [member] | |||
Disclosure of Events After Reporting Period [line items] | |||
Senior unsecured notes due, percentage | 5.696% | ||
Senior unsecured notes due, period | 2023 | ||
Bottom of range [member] | |||
Disclosure of Events After Reporting Period [line items] | |||
Aircraft reprogramming entry service period description | 2027 | ||
Top of range [member] | |||
Disclosure of Events After Reporting Period [line items] | |||
Aircraft reprogramming entry service period description | 2028 |