Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Trading Symbol | CSAN |
Entity Registrant Name | COSAN S.A. |
Entity Central Index Key | 0001430162 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Interactive Data Current | No |
Entity Common Stock, Shares Outstanding | 382,460,962 |
Title of 12(b) Security | Common shares, no par value |
Security Exchange Name | NYSE |
Entity Address, Country | BR |
Consolidated statement of finan
Consolidated statement of financial position - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and cash equivalents | R$ 13642918 | R$ 8472274 |
Marketable securities | 3,669,109 | 3,115,503 |
Trade receivables | 2,007,140 | 1,786,095 |
Derivative financial instruments | 587,894 | 144,422 |
Inventories | 935,264 | 787,322 |
Receivables from related parties | 680,049 | 58,619 |
Income tax receivable | 316,452 | 215,578 |
Other current tax receivable | 785,367 | 950,246 |
Dividend receivable | 80,755 | 23,252 |
Sector financial assets | 241,749 | |
Other financial assets | 69,126 | 81,972 |
Other current assets | 419,045 | 356,554 |
Total current assets | 23,434,868 | 15,991,837 |
Trade receivables | 26,301 | 28,299 |
Restricted cash | 34,562 | 147,910 |
Deferred tax assets | 1,900,241 | 1,607,566 |
Receivables from related parties | 249,641 | 114,722 |
Income tax receivable | 41,543 | 168,089 |
Other non-current tax receivable | 957,671 | 726,766 |
Judicial deposits | 875,842 | 943,457 |
Other financial assets | 69,791 | |
Derivative financial instruments | 7,552,806 | 3,679,988 |
Other non-current assets | 278,918 | 245,716 |
Investments in associates | 383,851 | 377,707 |
Investments in joint ventures | 7,988,208 | 7,548,960 |
Right-of-use assets | 7,916,230 | 4,469,730 |
Contract asset | 695,938 | 600,541 |
Property, plant and equipment | 14,068,506 | 12,153,136 |
Intangible assets and goodwill | 17,308,439 | 16,843,659 |
Total non-current assets | 60,278,697 | 49,726,037 |
Total assets | 83,713,565 | 65,717,874 |
Liabilities | ||
Loans, borrowings and debentures | 4,929,069 | 3,518,225 |
Leases | 531,410 | 542,475 |
Derivative financial instruments | 321,890 | 30,784 |
Trade payables | 2,630,054 | 2,190,264 |
Employee benefits payables | 336,466 | 381,337 |
Income tax payables | 386,122 | 424,138 |
Other taxes payable | 417,326 | 363,051 |
Dividends payable | 1,413,222 | 214,104 |
Concessions payable | 158,705 | 9,847 |
Payables to related parties | 307,080 | 392,458 |
Sector financial liabilities | 91,912 | |
Other financial liabilities | 562,763 | 543,879 |
Other current liabilities | 460,975 | 306,649 |
Total current liabilities | 12,546,994 | 8,917,211 |
Loans, borrowings and debentures | 37,320,391 | 25,533,990 |
Leases | 2,470,437 | 4,052,413 |
Preferred shareholders payable in subsidiaries | 387,044 | 611,537 |
Derivative financial instruments | 124,171 | 50,267 |
Other taxes payable | 149,018 | 155,070 |
Provision for legal proceedings | 1,360,898 | 1,354,171 |
Concessions payable | 2,824,637 | 3,445,033 |
Other financial liabilities | 31,425 | |
Post-employment benefits | 728,734 | 705,003 |
Deferred tax liabilities | 3,691,132 | 3,883,564 |
Sector financial liabilities | 473,999 | |
Deferred revenue | 43,000 | 48,036 |
Other non-current liabilities | 742,818 | 721,098 |
Total non-current liabilities | 50,347,704 | 40,560,182 |
Total liabilities | 62,894,698 | 49,477,393 |
Shareholders' equity | ||
Share capital | 5,328 | 5,328 |
Additional paid-in capital | 2,007,356 | 887,165 |
Accumulated other comprehensive loss | (1,524,027) | (805,471) |
Retained earnings | 4,771,426 | 5,314,843 |
Equity attributable to: | ||
Owners of the Company | 5,260,083 | 5,401,865 |
Non-controlling interests | 15,558,784 | 10,838,616 |
Total shareholders' equity | 20,818,867 | 16,240,481 |
Total shareholders' equity and liabilities | R$ 83713565 | R$ 65717874 |
Consolidated statement of profi
Consolidated statement of profit or loss and other comprehensive income - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Profit or loss [abstract] | |||
Net sales | R$ 20437835 | R$ 20611409 | R$ 16834768 |
Cost of sales | (14,501,725) | (14,160,233) | (12,108,305) |
Gross profit | 5,936,110 | 6,451,176 | 4,726,463 |
Selling expenses | (959,146) | (1,122,866) | (1,019,234) |
General and administrative expenses | (1,790,678) | (1,236,062) | (975,540) |
Other expenses, net | 176,869 | 404,686 | 747,282 |
Operating expenses | (2,572,955) | (1,954,242) | (1,247,492) |
Profit before equity in earnings of investees, finance results and taxes | 3,363,155 | 4,496,934 | 3,478,971 |
Interest in earnings of associates | 28,801 | 1,231 | 45,066 |
Interest in earnings of joint ventures | 583,001 | 1,131,406 | 946,282 |
Equity in earnings of investees | 611,802 | 1,132,637 | 991,348 |
Finance expense | (4,727,561) | (3,690,578) | (2,836,763) |
Finance income | 407,710 | 974,604 | 1,032,158 |
Foreign exchange, net | (3,258,656) | (526,946) | (1,552,366) |
Net effect of derivatives | 5,594,511 | 1,275,297 | 1,758,549 |
Finance results, net | (1,983,996) | (1,967,623) | (1,598,422) |
Profit before taxes | 1,990,961 | 3,661,948 | 2,871,897 |
Income taxes | |||
Current | (941,363) | (1,000,057) | (464,867) |
Deferred | 438,696 | 220,461 | (295,620) |
Income Taxes | (502,667) | (779,596) | (760,487) |
Profit from continuing operations | 1,488,294 | 2,882,352 | 2,111,410 |
Profit (loss) from discontinued operation, net of tax | 11,021 | (28,230) | |
Profit for the year | 1,488,294 | 2,893,373 | 2,083,180 |
Items that will not be reclassified to profit or loss | |||
Actuarial loss on defined benefit plan | (55,777) | (117,302) | (82,286) |
Taxes over actuarial loss on defined benefit plan | 18,964 | 35,590 | 27,977 |
Items that will never be reclassified to profit or loss | (36,813) | (81,712) | (54,309) |
Items that are or may be reclassified subsequently to profit or loss | |||
Foreign currency translation differences | (42,767) | 27,788 | (161,574) |
(Loss) gain on cash flow hedge | (526,099) | (256,486) | 6,883 |
Change in fair value of financial assets | 278 | 192 | 244 |
Items that are or may be reclassified to profit or loss | (568,588) | (228,506) | (154,447) |
Total other comprehensive loss, net of tax | (605,401) | (310,218) | (208,756) |
Total comprehensive income for the year | 882,893 | 2,583,155 | 1,874,424 |
Profit attributable to: | |||
Owners of the Company | 859,482 | 1,316,341 | 975,448 |
Non-controlling interests | 628,812 | 1,577,032 | 1,107,732 |
Profit for the year | 1,488,294 | 2,893,373 | 2,083,180 |
Total comprehensive income attributable to: | |||
Owners of the Company | 140,926 | 1,098,043 | 782,487 |
Non-controlling interests | 741,967 | 1,485,112 | 1,091,937 |
Total comprehensive income for the year | R$ 882893 | R$ 2583155 | R$ 1874424 |
Earnings per share | |||
Basic earnings per share | R$ 3.8433 | R$ 5.7850 | R$ 3.9970 |
Diluted earnings per share | 3.7059 | 5.5510 | 4.1120 |
Earnings per share from continuing operations | |||
Basic earnings per share from continuing operations | 3.8433 | 5.7360 | 3.8270 |
Diluted earnings per share from continuing operations | R$ 3.7059 | R$ 5.5050 | R$ 3.9500 |
Consolidated statement of chang
Consolidated statement of changes in equity - BRL (R$) R$ in Thousands | Total | Share capital [member] | Additional paid-in capital [member] | Accumulated other comprehensive income [member] | Retained earnings [member] | Equity attributable to owners of the company [member] | Non-controlling interest [member] |
Beginning balance (Adjustment on initial application of IFRS 9 [member]) at Dec. 31, 2017 | R$ 8688 | R$ 3950 | R$ 3950 | R$ 4738 | |||
Beginning balance (Restatement [Member]) at Dec. 31, 2017 | 17,050,725 | R$ 5328 | R$ 3245543 | R$ 394212 | 3,178,148 | 6,034,807 | 11,015,918 |
Beginning balance at Dec. 31, 2017 | 17,059,413 | 5,328 | 3,245,543 | (394,212) | 3,182,098 | 6,038,757 | 11,020,656 |
Profit for the year | 2,083,180 | 975,448 | 975,448 | 1,107,732 | |||
Other comprehensive income: | |||||||
Gain (loss) on cash flow hedge in joint ventures | 6,883 | 4,961 | 4,961 | 1,922 | |||
Foreign currency translation differences | (161,574) | (169,823) | (169,823) | 8,249 | |||
Actuarial loss on defined benefit plan | (54,309) | (28,245) | (28,245) | (26,064) | |||
Change in fair value of financial assets | 244 | 146 | 146 | 98 | |||
Total comprehensive income for the year | 1,874,424 | (192,961) | 975,448 | 782,487 | 1,091,937 | ||
Transactions with owners of the Company Contributions and distributions | |||||||
Dividends - non-controlling interest | (12,368) | (12,368) | 12,368 | ||||
Share options exercised - Subsidiaries | 24,548 | 14,795 | 14,795 | 9,753 | |||
Business combination | 7,199 | 7,199 | |||||
Dividends | (425,493) | (69,622) | (69,622) | (355,871) | |||
Share-based payment transactions | 53,618 | 44,122 | 44,122 | 9,496 | |||
Total contributions and distributions | (340,128) | 46,549 | (69,622) | (23,073) | (317,055) | ||
Changes in ownership interests | |||||||
Change of shareholding interest in subsidiary | (615,665) | (179,818) | (179,818) | (435,847) | |||
Total changes in ownership interests | (615,665) | (179,818) | (179,818) | (435,847) | |||
Total transactions with owners of the Company | (955,793) | (133,269) | (69,622) | (202,891) | (752,902) | ||
Ending balance (Adjustment on initial application of IFRS 16 [member]) at Dec. 31, 2018 | (475,391) | (97,971) | (97,971) | (377,420) | |||
Ending balance (Restatement [Member]) at Dec. 31, 2018 | 17,493,965 | 5,328 | 3,112,274 | (587,173) | 3,986,003 | 6,516,432 | 10,977,533 |
Ending balance at Dec. 31, 2018 | 17,969,356 | 5,328 | 3,112,274 | (587,173) | 4,083,974 | 6,614,403 | 11,354,953 |
Profit for the year | 2,893,373 | 1,316,341 | 1,316,341 | 1,577,032 | |||
Other comprehensive income: | |||||||
Gain (loss) on cash flow hedge in joint ventures | (256,486) | (155,007) | (155,007) | (101,479) | |||
Foreign currency translation differences | 27,788 | (11,220) | (11,220) | 39,008 | |||
Actuarial loss on defined benefit plan | (81,712) | (52,189) | (52,189) | (29,523) | |||
Change in fair value of financial assets | 192 | 118 | 118 | 74 | |||
Total comprehensive income for the year | 2,583,155 | (218,298) | 1,316,341 | 1,098,043 | 1,485,112 | ||
Transactions with owners of the Company Contributions and distributions | |||||||
Capital increase in subsidiary | (11,938) | (11,938) | |||||
Dividends - non-controlling interest | (11,650) | (11,650) | 11,650 | ||||
Share options exercised - Subsidiaries | (13,113) | (11,811) | (11,811) | (1,302) | |||
Prescribed Dividends | 20,751 | 12,499 | 12,499 | 8,252 | |||
Treasury shares acquired | (1,141,302) | (1,141,302) | (1,141,302) | ||||
Dividends | (243,317) | (243,317) | |||||
Share-based payment transactions | 42,222 | 42,222 | 42,222 | ||||
Total contributions and distributions | (1,346,697) | (1,122,541) | 12,499 | (1,110,042) | (236,655) | ||
Changes in ownership interests | |||||||
Change of shareholding interest in subsidiary | (2,489,942) | (1,102,568) | (1,102,568) | (1,387,374) | |||
Total changes in ownership interests | (2,489,942) | (1,102,568) | (1,102,568) | (1,387,374) | |||
Total transactions with owners of the Company | (3,836,639) | (2,225,109) | 12,499 | (2,212,610) | (1,624,029) | ||
Ending balance at Dec. 31, 2019 | 16,240,481 | 5,328 | 887,165 | (805,471) | 5,314,843 | 5,401,865 | 10,838,616 |
Profit for the year | 1,488,294 | 859,482 | 859,482 | 628,812 | |||
Other comprehensive income: | |||||||
Gain (loss) on cash flow hedge in joint ventures | (526,099) | (345,185) | (345,185) | (180,914) | |||
Foreign currency translation differences | (42,767) | (373,135) | (373,135) | 330,368 | |||
Actuarial loss on defined benefit plan | (36,813) | (421) | (421) | (36,392) | |||
Change in fair value of financial assets | 278 | 185 | 185 | 93 | |||
Total comprehensive income for the year | 882,893 | (718,556) | 859,482 | 140,926 | 741,967 | ||
Transactions with owners of the Company Contributions and distributions | |||||||
Capital increase in subsidiary | 6,666 | 6,666 | |||||
Dividends - non-controlling interest | (1,374) | (15,951) | (15,951) | 14,577 | |||
Share options exercised - Subsidiaries | 272,692 | 272,692 | 272,692 | ||||
Dividends | (1,514,114) | (1,402,899) | (1,402,899) | (111,215) | |||
Share-based payment transactions | 1,251,014 | 1,244,638 | 1,244,638 | 6,376 | |||
Total contributions and distributions | 14,884 | 1,501,379 | (1,402,899) | 98,480 | (83,596) | ||
Changes in ownership interests | |||||||
Change of shareholding interest in subsidiary | 3,680,609 | (381,188) | (381,188) | 4,061,797 | |||
Total changes in ownership interests | 3,680,609 | (381,188) | (381,188) | 4,061,797 | |||
Total transactions with owners of the Company | 3,695,493 | 1,120,191 | (1,402,899) | (282,708) | 3,978,201 | ||
Ending balance at Dec. 31, 2020 | R$ 20818867 | R$ 5328 | R$ 2007356 | R$ 1524027 | R$ 4771426 | R$ 5260083 | R$ 15558784 |
Consolidated statement of cash
Consolidated statement of cash flows - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities | |||
Profit before taxes | R$ 1990961 | R$ 3661948 | R$ 2871897 |
Adjustments for: | |||
Depreciation and amortization | 2,340,854 | 2,287,877 | 2,051,824 |
Lease and concession (reversal) provision | (379,636) | 199,405 | |
Interest in earnings of associates | (28,801) | (1,231) | (45,066) |
Interest in earnings of joint ventures | (583,001) | (1,131,406) | (946,282) |
(Gain) loss on disposed assets | (30,610) | 36,045 | 684 |
Share-based payment | 272,692 | 101,283 | 55,246 |
Legal proceedings provision | 27,437 | 102,811 | 113,829 |
Interest and exchange, net | 2,111,772 | 2,125,655 | 1,807,037 |
Sector financial assets and liabilities, net | 337,620 | ||
Deferred revenue | (6,325) | (8,271) | (10,507) |
Provisions for employee benefits | 161,042 | 229,812 | 184,228 |
Allowance for expected credit losses | 32,098 | 6,630 | 14,603 |
Disposal of credit rights | 68,311 | (410,000) | |
Indemnity | (726,000) | ||
Recovering tax credits | (132,399) | (165,398) | (326,987) |
Other | 436,260 | (109,423) | (4,828) |
Cash flows from operating activities before changes in working capital | 6,618,275 | 6,726,332 | 5,239,083 |
Changes in: | |||
Trade receivables | 67,291 | (145,933) | (146,910) |
Inventories | (117,166) | (90,880) | (11,959) |
Other current tax, net | 74,949 | 179,622 | (316,348) |
Income tax | (868,234) | (407,477) | (319,530) |
Related parties, net | 572,601 | 22,827 | (57,368) |
Trade payables | 167,019 | 383,459 | 371,054 |
Employee benefits | (170,133) | (198,312) | (158,451) |
Provision for legal proceedings | (212,699) | (187,292) | (132,215) |
Other financial liabilities | (91,935) | 26,525 | 40,106 |
Judicial deposits | (23,493) | (62,727) | (76,017) |
Discontinued operation | (17,615) | (22,585) | |
Cash received (paid) on disposal of credit rights | (31,857) | 410,000 | 1,340,000 |
Post-employment benefits | (37,444) | (39,387) | (34,904) |
Other assets and liabilities, net | (238,320) | (301,931) | (230,179) |
Concessions payable | (51,947) | (474) | (105,848) |
Changes in working capital | (961,368) | (429,595) | 138,846 |
Net cash from operating activities | 5,656,907 | 6,296,737 | 5,377,929 |
Cash flows from investing activities | |||
Capital contribution in associates | (1,142) | (31,113) | (7,517) |
Acquisition of subsidiary, net of cash acquired | (94,631) | (9,837) | (135,648) |
(Purchase) sale of marketable securities | (483,574) | 1,230,431 | (149,251) |
Restricted cash | 124,330 | (31,439) | 111,672 |
Dividends received from associates | 13,165 | 17,690 | 15,327 |
Dividends received from joint ventures | 1,852 | 1,462,625 | 1,292,127 |
Other financial assets | 11 | (17,022) | |
Acquisition of property, plant and equipment, intangible assets and contract assets | (4,034,688) | (2,762,937) | (2,628,153) |
Net cash from sale of discontinued operations | 432 | 857 | |
Acquisition of associates shares | (51,299) | ||
Cash received on sale of fixed assets, and intangible assets | 3,045 | 10,578 | 1,817 |
Other | (194) | ||
Net cash used in investing activities | (4,523,125) | (130,592) | (1,498,769) |
Cash flows from financing activities | |||
Loans, borrowings and debentures raised | 10,336,257 | 9,352,123 | 3,685,290 |
Repayment of principal on loans, borrowings and debentures | (3,397,060) | (4,422,026) | (5,301,421) |
Payment of interest on loans, borrowings and debentures | (1,782,976) | (1,384,184) | (1,454,712) |
Payment of derivative financial instruments | (61,716) | (126,986) | (1,097,659) |
Receipt of derivative financial instruments | 1,383,411 | 251,545 | 1,384,506 |
Payment of derivative financial instruments, except debt | (101,461) | ||
Receipt of derivative financial instruments, except debt | 106,519 | ||
Repayment of principal on leases | (5,424,917) | (423,283) | (384,752) |
Payment of interest on leases | (500,922) | (249,325) | (150,799) |
Repayment of real estate credit certificates | (91,842) | ||
Equity contribution from non-controlling interest | 4,397,772 | 453,082 | |
Payments to redeem entity's shares | (495,048) | (1,141,302) | (607,932) |
Transactions with non-controlling interests | 65,478 | 1,192 | 4,163 |
Acquisition of non-controlling interests | (269,977) | (3,086,642) | (268,322) |
Dividends paid | (372,075) | (202,320) | (448,841) |
Dividends paid for preference shares | (174,227) | (535,832) | (422,639) |
Discontinued operation | 1,543 | 24,003 | |
Payment of share-based compensation | (22,804) | (45,961) | |
Share options exercised | 24,548 | ||
Net cash from (used in) financing activities | 3,686,254 | (1,558,376) | (5,106,409) |
Net increase (decrease) in cash and cash equivalents | 4,820,036 | 4,607,769 | (1,227,249) |
Cash and cash equivalents at beginning of year | 8,472,274 | 3,621,798 | 4,555,177 |
Effect of foreign exchange rate changes | 350,608 | 242,707 | 293,870 |
Cash and cash equivalents at end of year | 13,642,918 | 8,472,274 | 3,621,798 |
Additional information | |||
Income tax paid | R$ 592243 | R$ 287451 | R$ 315278 |
Consolidated statement of cas_2
Consolidated statement of cash flows (Parenthetical) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Statement [LineItems] | ||
Right-of-use assets recognized | R$ 3531470 | R$ 2777275 |
North South Railroad Concession Agreement [Member] | ||
Statement [LineItems] | ||
Right-of-use assets recognized | 3,522,469 | |
Construction in progress [member] | ||
Statement [LineItems] | ||
Payment for acquisition of assets in installments | 297,002 | R$ 176632 |
Payly Solucoes de Pagamentos SA [Member] | ||
Statement [LineItems] | ||
Capital contribution capitalization of expenses | R$ 10000 |
Operations
Operations | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Operations | 1. Operations Cosan Limited (“Cosan”) was incorporated in Bermuda on April 30, 2007. Cosan’s class A common shares are traded on the New York Stock Exchange, or “NYSE,” (ticker—CZZ). Mr. Rubens Ometto Silveira Mello is the ultimate controlling shareholder of Cosan. Cosan controls its subsidiaries Cosan S.A. and Cosan Logística S.A. (“Cosan Logística”) through a 66.74 73.48 |
Development of the Company
Development of the Company | 12 Months Ended |
Dec. 31, 2020 | |
Development of the Company | |
Development of the Company | 2. Development of the Company On March 19, 2018, Cosan Lubrificantes e Especialidades S.A., or “CLE,” entered into an agreement with ExxonMobil, pursuant to which CLE has received exclusive production, import, distribution and marketing rights in Brazil, Bolivia, Paraguay and Uruguay for lubricants and certain other related products under the Mobil brand until November 30, 2038. This agreement came into force on December 1, 2018. On April 19, 2018, Cosan Limited submitted to the São Paulo Stock, Commodities and Futures Exchange ( B 3 Balcão 3 3 Manual do Emissor Comissão de Valores Mobiliários 3 On April 24, 2018, Raízen Combustíveis and its subsidiary Raízen Argentina Holdings S.A.U. entered into an agreement for the acquisition of Raízen Argentina from Shell Overseas Investments B.V. and B.V. Dordtsche Petroleum Maatschappij for an amount of R$ 3,917,438 On December 21, 2018, Cosan Lubes Investments Limited (“CLI”) and Galt Lubes Investments Limited, or “Galt,” an investment vehicle managed by CVC Fund VII, or “CVC,” entered into an investment agreement pursuant to which CVC subscribed for shares in CLI’s capital in a total amount of R$ 588,637 30 454,000 65,478 68,876 On March 28, 2019, Rumo S.A. (“Rumo”) announced that it won the tender (Bidding No. 02 2018 Agência Nacional de Transporte Terrestre 30 2,719,530 2,904,778 5 45 120 145,239 On May 31, 2019, the Sanitation and Energy Regulatory Agency for the state of São Paulo ( Agência Reguladora de Energia de São Paulo Índice Geral de Preços - Mercado Exceptionally, applicable regulations allow gas cost adjustment within a period of less than one On November 1, 2019, Raízen Combustíveis and FEMSA Comercio, S.A. de C.V., or “FEMSA Comercio,” formed a joint venture in the convenience and proximity store business, called Rede Integrada de Lojas de Convenências e Proximidade S.A., formerly known as Raízen Conveniências S.A. The enterprise value was considered to be R$ 1,122,000 528,967 50 On January 14, 2020, Cosan S.A. contributed to the share capital of our wholly-owned subsidiary Compass Gás e Energia S.A. (“Compass Gás e Energia”), the totality of the shares we held in Comgás (i.e., 103,699,333 27,682,044 99.15 2,861,936 On April 9, 2020, the Company entered into a shares purchase and derivatives negotiation plan, or the Total Return Swap, with Banco Santander (Brasil) S.A. – Cayman Branch, or “Santander Cayman,” and Santander Fundo de Investimento Amazonas Multimercado Crédito Privado Investimento no Exterior, or the “Santander Fund.” Pursuant to the Total Return Swap, the Santander Fund will be able to purchase, on its own behalf, common shares issued by us, and Santander Cayman will be able to enter into equity swap transactions on its own behalf and on our behalf in connection with such shares (for which purpose we also entered into a master agreement with certain Santander entities). The maximum aggregate amount of derivatives which may be negotiated pursuant to the Total Return Swap and the maximum aggregate number of underlying shares thereunder are R$ 600,000 19,500,000 On May 27, 2020, Rumo entered into an amendment to the concession agreement relating to Malha Paulista with the ANTT. The amendment was reviewed and authorized by the Federal Accounting Court ( Tribunal de Contas da União 009.032 2016 9 Due to the signing of the amendment, the new value of the concession grant is of R$ 3,382,030 2,823,777 6,100,000 On August 23, 2020, Rumo completed a follow-on offering of common shares as a result of which it raised R$ 6,400,000 294,252,874 21.75 2.1 Recent d evelopments Cybersecurity Incident On March 11, 2020, the Company, its subsidiaries and jointly controlled companies suffered a cyber-attack by ransomware that caused a partial and temporary interruption of our operations. Following the incident, the Company made significant investments in cybersecurity, including expanding the size of the team responsible for cybersecurity in our organization. We also took certain other steps to prevent unauthorized access and misuse of our data, including more robust investigations and audits of our information technology systems. The Company also performed an audit and forensic assessment of the cyberattack we suffered. The Company did not identify any relevant impacts on our financial statements as a result of the abovementioned measures. COVID- 19 The Company still closely monitoring the evolution of the COVID- 19 The Company's response to the pandemic was effective throughout the year in limiting the impacts on our operating facilities, employees, supply chain and logistics. The impacts include, but are not limited to the following: Raízen Combustíveis . 7 2020 2019 19 otto 9 49 2020 2019 2020 25 19 22 65 2020 2019 2020 Raízen Energia. 2020 2021 2019 2020 Logistics. 2020 62.5 3.9 2019 5.8 19 10.4 2020 2019 2020 2019 Gas and Energy. 6 2020 2019 19 28 2020 2019 8 2020 2019 Moove . 18 2020 2019 2020 2019 2020 2019 2020 During the year ended December 31, 2020, several measures of economic and financial assistance were introduced by the federal entities, with the objective of assisting companies in mitigating the effects of the pandemic, with emphasis on the following, which were adopted by the Group companies: Ordinances of the Ministry of Economy No. 139 150 245 19 2020 2020 Programa de Integração Social Contribuição para o Financiamento da Seguridade Social 2020 245 Provisional Measure No. 927 927 2020 six Provisional Measure No. 932 932 0.05 1.25 Federal Decree No. 10,305 10,305 zero Imposto sobre Operações Financeiras 10,504 zero Ordinance of the Ministry of Economy No. 201 201 Receita Federal do Brasi Procuradoria-Geral da Fazenda Nacional Additionally, Comgás entered into a commitment with the Government of the State of São Paulo to maintain the supply of gas to defaulting customers until July 31, 2020. On December 31, 2020, the Company had positive consolidated working capital of R$ 10,887,874 1,488,294 17,312,027 In addition, we drew down a total amount of R$ 8,222,950 2,276,000 2020 19 Our covenants are assessed monthly for our need to generate sufficient cash flows to meet indebtedness and our ability to meet the covenants contained in the contracts that govern our indebtedness. As of December 31, 2020, leverage (gross debt / pro forma 3.1 2.3 Considering the low level of interest rates in Brazil and in the locations of our subsidiaries, we consider that despite the short-term fluctuations in some macroeconomic assumptions due to the impacts of the COVID- 19 2019 On the side of the cost of equity capital, we consider that the Beta and Expected Return on the Market, present in the Capital Asset Pricing Model, or “CAPM,” methodology, are structural variables estimated from the history of several years and, therefore, have undergone only specific changes and less relevant. For the risk-free rate, we see the American interest curves even more closed, which pressures the cost of equity to lower levels. On the other hand, Brazil Risk (CDS 10 2019 The Company assessed the circumstances that could indicate the impairment of its non-financial assets and concluded that there were no changes in the circumstances that would indicate an impairment loss. Therefore, the main long-term assumptions applied in the preparation of cash flow models remain unchanged for the assessment of the impairment indicator. As a conclusion, it was verified that the discounted cash flows when compared to the book value of each segment, would result in a recoverable value higher than the book value. Our tax recovery projections are based on the same scenarios and assumptions above. Losses due to the non-recoverability of financial assets were calculated based on the credit risk analysis, which includes the history of losses, the individual situation of customers, the situation of the economic group to which they belong, the real guarantees for debts and macroeconomic indicators, and is considered, on December 31, 2020, sufficient to cover possible losses on the amounts receivable, in addition to a prospective assessment that takes into account the change or expected change in economic factors that affect the expected credit losses, which will be determined based on weighted probabilities and measured at an amount equal to the expected credit loss for life. The maximum exposure to the Company’s credit risk, net of losses due to the non-recoverability of financial assets, is the value of accounts receivable. The credit quality of accounts receivable falling due is considered adequate, and the amount of the effective risk of possible losses in accounts receivable from customers is presented as losses due to the non-recoverability of financial assets. In addition, the subsidiaries Comgás and Moove, reviewed the variables that make up the methodology for measuring expected losses, through the macroeconomic projections of each segment, capturing the estimates of reflexes in default and credit recovery. During the year ended December 31, 2020, there was an increase in the provision for expected credit loss, however, this increase was reduced to the approximate level as before the pandemic. Our inventories are composed, substantially, of lubricants, basic oil and materials for the construction of gas pipelines, which are products that are not valid or have a long duration and, therefore, we do not observe indicators of obsolescence or non-performance. To date, there have been no changes in the scope of the Company’s leases, no adjustments to the right of use, including adding or terminating the right to use one |
Corporate reorganization
Corporate reorganization | 12 Months Ended |
Dec. 31, 2020 | |
Corporate reorganization | |
Corporate reorganization | 3. Corporate reorganization On January 22, 2021, the shareholders of Cosan Limited, the former parent company of Cosan S.A. and Cosan Logística, approved an intra-group reorganization, announced on July 3, 2020, consisting of a merger of companies under common control, as provided by art. 264 4 6,404 Cosan Limited was a “foreign private issuer” in accordance with Rule 405 3 Novo Mercado 3 3 As part of an effort to streamline our operations, the Company carried out at corporate reorganization to enhance its corporate structure by making Cosan S.A. the sole holding company of the group. The corporate reorganization simplified our corporate structure, unifying and consolidating the Cosan S.A., Cosan Limited and Cosan Logística free floats, in order to increase share liquidity, and unlock value within the Company’s group portfolio. As part of the corporate reorganization, each of Cosan Limited and Cosan Logística were merged into Cosan S.A., being Cosan S.A. the surviving entity. Following the completion of the merger, the outstanding shares of Cosan S.A. are now directly owned by all shareholders of Cosan Limited, Cosan S.A. and Cosan Logística as of immediately prior to the completion of the merger. As a result, Cosan S.A. issued American Depositary Shares, or ADSs, listed on the NYSE or common shares listed under the Novo Mercado segment of the B3 to the shareholders of Cosan Limited immediately prior to the approval of the merger. As for Cosan Logística, upon completion of the merger, holders of Cosan Logística shares immediately prior to the approval of the merger became owners of Cosan S.A. common shares. 1.29401595263 0.25360679585 one This is equivalent to 0.772788 3.943112 Following the merger, Cosan S.A. ADSs began trading on the NYSE under the symbol “CSAN,” on March 8, 2021. |
Statement of compliance
Statement of compliance | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Statement of compliance | 4. Basis of accounting 4.1 Statement of compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The relevant information of the financial statements, and only them, are being evidenced and correspond to those used by management in its management. These consolidated financial statements were authorized for issue by the Board of Directors of Cosan S.A. on April 30, 2021 |
Accounting policies
Accounting policies | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Accounting policies | Accounting policies The accounting policies applied in the preparation of these consolidated financial statements are described in their respective notes, except those described below: 5.1 Functional and presentation currency The consolidated financial statements are presented in Brazilian reais Transactions in foreign currencies are translated to the respective functional currencies of each subsidiary using the exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency using the exchange rate at the reporting date. The assets and liabilities derived from foreign operations, including goodwill and fair value adjustments arising on acquisition, are translated to Brazilian reais using the exchange rates at the reporting date. Income and expenses of foreign operations are translated to Brazilian Reais using the exchange rates at the dates of the transactions. Foreign currency translation is recognized and presented in other comprehensive income in equity. However, if the foreign operation is a non-wholly owned subsidiary, then the relevant proportion of the translation difference is allocated to non-controlling interests. When a foreign operation is disposed of such that control, significant influence or joint control is lost, the cumulative amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal. These consolidated financial statements have been translated to the Brazilian real using the following criteria: a) assets and liabilities have been translated using the exchange rate at the statement of financial position date; b) statement of profit or loss, comprehensive income and statement of cash flows have been translated using the monthly average exchange rate; and c) shareholders’ equity has been translated using the historical exchange rate. Translation effects have been recognized in shareholders’ equity in “Foreign currency translation effects.” The following tables set forth the exchange rate, expressed in reais per U.S. dollar, British pound and Euro for the periods indicated, as reported by the Brazilian Central Bank: Currency December 31, 2020 December 31, 2019 December 31, 2018 U.S. dollar (U.S.$) 5.197 4.031 3.875 British pound (£) 7.101 5.325 4.962 Euro (€) 6.378 4.531 4.439 All amounts have been rounded to the nearest thousand, unless otherwise indicated. 5.2 Use of judgments and estimates In preparing these consolidated financial statements, Management has made judgments and estimates that affect the application of the Company’s accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Those estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable and relevant under the circumstances. Estimates and underlying assumptions are reviewed on an ongoing basis and recognized prospectively. Information about critical judgments, assumptions and estimation uncertainties in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following notes: Note 7.3 Note 7.10 Note 11 Notes 10.1 10.2 Note 13 Note 15 Note 17 Note 18 Note 25 Note 26 |
Segment information
Segment information | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Segment information | 6. Segment information The following segment information is used by Company’s senior management (the “Chief Operating Decision Maker”) to assess the performance of the operating segments and to make decisions with regards to the allocation of resources. This information is prepared on a basis consistent with the accounting policies used in the preparation of the financial statements. The Company evaluates the performance of its operating segments based on the measure of Earnings Before Interest Taxes, Depreciation and Amortization (“EBITDA”). Reported segments Raízen Combustíveis: distribution and marketing of fuels, mainly through a franchised network of service stations under the “Shell” brand and a proximity business throughout Brazil and Argentina. In Argentina, the operations of Raízen Combustíveis include petroleum refining, the operation of fuel resellers, the manufacture and sale of automotive and industrial lubricants, and the production and sale of liquefied petroleum gas; Raízen Energia: production and marketing of a variety of products derived from sugar cane, including raw sugar (Very High Polarization, or “VHP”) and renewable products, such as anhydrous and hydrated ethanol, second generation ethanol and activities related to energy cogeneration from sugarcane bagasse, among others. In addition, this segment holds interests in companies engaged in research and development on new technology; Gas and Energy (formerly Comgás segment Moove: production and distribution of lubricants under the Mobil brand in Brazil, Argentina, Bolivia, Uruguay, Paraguay, the United States of America and Europe, as well as in the European and Asian markets under the “Comma” trademark and corporate activities; Logistics: logistics services for rail transportation, storage and port loading of commodities, mainly for grains and sugar, leasing of locomotives, wagons and another railroad equipment; and Reconciliation Cosan Corporate: digital platform for logistics services and other investments, in addition to the corporate activities of the Company. This segment includes the financing subsidiaries for the Cosan group. Although, Raízen Energia S.A. (“Raízen Energia”) and Raízen Combustíveis are equity accounted joint ventures and are no longer proportionally consolidated, senior management continues to review segment information. A reconciliation of these segments is presented in the column “Deconsolidated effects.” December 31, 2020 Reported segments Reconciliation Raízen Raízen Combustíveis Gas and Moove Logistics Cosan Deconsolidated Segment elimination Brazil Argentina Consolidated Statement of profit or loss Gross sales 33,198,096 79,748,342 14,886,280 12,024,615 5,588,754 7,349,804 880 ( 127,832,718 ) ( 37,887 ) 24,926,166 Domestic market ( i ) 23,153,941 79,748,342 14,886,280 12,024,615 5,117,770 6,978,624 880 ( 117,788,563 ) ( 37,887 ) 24,084,002 External market ( i ) 10,044,155 — — — 470,984 371,180 — ( 10,044,155 ) — 842,164 Net sales 31,661,546 76,387,354 10,000,822 9,093,170 4,415,575 6,966,159 818 ( 118,049,722 ) ( 37,887 ) 20,437,835 Cost of sales ( 28,207,626 ) ( 73,450,143 ) ( 9,142,729 ) ( 6,434,190 ) ( 3,380,304 ) ( 4,721,507 ) ( 3,611 ) 110,800,498 37,887 ( 14,501,725 ) Gross profit 3,453,920 2,937,211 858,093 2,658,980 1,035,271 2,244,652 ( 2,793 ) ( 7,249,224 ) — 5,936,110 Selling expenses ( 1,119,878 ) ( 1,413,556 ) ( 731,322 ) ( 454,131 ) ( 471,829 ) ( 30,670 ) ( 2,516 ) 3,264,756 — ( 959,146 ) General and administrative expenses ( 647,492 ) ( 437,681 ) ( 178,560 ) ( 577,474 ) ( 229,672 ) ( 411,336 ) ( 572,196 ) 1,263,733 — ( 1,790,678 ) Other expenses, net 161,236 263,271 129,619 56,176 34,876 128,388 ( 42,571 ) ( 554,126 ) — 176,869 Interest in earnings of associates — ( 88,323 ) — — — 13,087 1,746,969 88,323 ( 1,731,255 ) 28,801 Interest in earnings of joint ventures ( 86,630 ) ( 937 ) — — — — 583,001 87,567 — 583,001 Finance results, net ( 1,023,562 ) ( 204,275 ) ( 203,430 ) ( 282,773 ) ( 129,342 ) ( 1,503,221 ) ( 68,660 ) 1,431,267 — ( 1,983,996 ) Finance expense ( 1,610,586 ) ( 619,403 ) ( 115,782 ) ( 374,252 ) ( 30,910 ) ( 2,920,241 ) ( 1,402,158 ) 2,345,771 — ( 4,727,561 ) Finance income 391,308 263,493 35,877 72,500 20,086 177,206 137,918 ( 690,678 ) — 407,710 Foreign exchange, net ( 603,224 ) ( 3,154,960 ) ( 63,278 ) ( 150,227 ) ( 161,636 ) ( 1,577,342 ) ( 1,369,451 ) 3,821,462 — ( 3,258,656 ) Derivatives 798,940 3,306,595 ( 60,247 ) 169,206 43,118 2,817,156 2,565,031 ( 4,045,288 ) — 5,594,511 Income taxes ( 211,932 ) ( 362,349 ) 37,277 ( 460,312 ) ( 87,941 ) ( 169,990 ) 215,576 537,004 — ( 502,667 ) Profit (loss) for the year 525,662 693,361 ( 88,323 ) 940,466 151,363 270,910 1,856,810 ( 1,130,700 ) ( 1,731,255 ) 1,488,294 Profit (loss) attributable to: Owners of the Company 503,120 666,379 ( 88,323 ) 923,420 104,570 43,602 1,519,145 ( 1,081,176 ) ( 1,731,255 ) 859,482 Non-controlling interests 22,542 26,982 — 17,046 46,793 227,308 337,665 ( 49,524 ) — 628,812 525,662 693,361 ( 88,323 ) 940,466 151,363 270,910 1,856,810 ( 1,130,700 ) ( 1,731,255 ) 1,488,294 Other select data Depreciation and amortization 4,092,682 306,142 660,415 500,714 108,687 1,715,527 15,926 ( 5,059,239 ) — 2,340,854 EBITDA 5,853,838 1,566,127 738,245 2,184,265 477,333 3,659,648 1,725,820 ( 8,158,210 ) ( 1,731,255 ) 6,315,811 Additions to PP&E, intangible and contract asset 2,669,052 229,473 260,890 1,006,881 29,658 2,979,213 18,936 ( 3,159,415 ) — 4,034,688 Reconciliation of EBITDA Profit (loss) for the year 525,662 693,361 ( 88,323 ) 940,466 151,363 270,910 1,856,810 ( 1,130,700 ) ( 1,731,255 ) 1,488,294 Income taxes 211,932 362,349 ( 37,277 ) 460,312 87,941 169,990 ( 215,576 ) ( 537,004 ) — 502,667 Finance results, net 1,023,562 204,275 203,430 282,773 129,342 1,503,221 68,660 ( 1,431,267 ) — 1,983,996 Depreciation and amortization 4,092,682 306,142 660,415 500,714 108,687 1,715,527 15,926 ( 5,059,239 ) — 2,340,854 EBITDA 5,853,838 1,566,127 738,245 2,184,265 477,333 3,659,648 1,725,820 ( 8,158,210 ) ( 1,731,255 ) 6,315,811 (i) Domestic markets: sales within the countries where each entity is located; external markets: sales export. December 31, 2019 Reported segments Reconciliation Raízen Raízen Combustíveis Gas and Moove Logistics Cosan Deconsolidated Segment Brazil Argentina Consolidated Statement of profit or loss Gross sales 30,458,300 92,116,093 17,655,659 12,007,634 5,072,163 7,473,730 106 ( 140,230,052 ) ( 37,047 ) 24,516,586 Domestic market ( i ) 24,180,375 90,619,697 17,655,659 12,007,634 4,948,678 7,232,158 106 ( 132,455,731 ) ( 37,047 ) 24,151,529 External market ( i ) 6,277,925 1,496,396 — — 123,485 241,572 — ( 7,774,321 ) — 365,057 Net sales 28,835,309 87,946,233 12,567,921 9,514,222 4,046,296 7,087,840 98 ( 129,349,463 ) ( 37,047 ) 20,611,409 Cost of sales ( 26,951,969 ) ( 84,137,215 ) ( 11,340,151 ) ( 6,402,338 ) ( 3,185,745 ) ( 4,608,781 ) ( 416 ) 122,429,335 37,047 ( 14,160,233 ) Gross profit 1,883,340 3,809,018 1,227,770 3,111,884 860,551 2,479,059 ( 318 ) ( 6,920,128 ) — 6,451,176 Selling expenses ( 866,330 ) ( 1,489,100 ) ( 713,874 ) ( 614,492 ) ( 492,482 ) ( 6,983 ) ( 8,909 ) 3,069,304 — ( 1,122,866 ) General and administrative expenses ( 621,843 ) ( 486,149 ) ( 124,674 ) ( 404,441 ) ( 173,212 ) ( 364,555 ) ( 293,854 ) 1,232,666 — ( 1,236,062 ) Other expenses, net 136,695 1,810,364 73,942 ( 31,534 ) 31,806 ( 24,084 ) 428,498 ( 2,021,001 ) — 404,686 Interest in earnings of associates — 115,168 — — 439 21,876 2,822,914 ( 115,168 ) ( 2,843,998 ) 1,231 Interest in earnings of joint ventures ( 12,179 ) 4,973 — — — — 1,131,406 7,206 — 1,131,406 Finance results, net ( 759,350 ) ( 216,381 ) ( 320,506 ) ( 180,381 ) ( 96,794 ) ( 1,197,817 ) ( 492,631 ) 1,296,237 — ( 1,967,623 ) Finance expense ( 1,449,680 ) ( 649,509 ) ( 81,237 ) ( 495,958 ) ( 38,514 ) ( 1,871,221 ) ( 1,284,885 ) 2,180,426 — ( 3,690,578 ) Finance income 471,581 268,801 26,954 315,634 22,385 202,875 433,710 ( 767,336 ) — 974,604 Foreign exchange, net ( 36,107 ) ( 259,014 ) ( 276,256 ) ( 27,518 ) ( 92,989 ) ( 205,839 ) ( 200,600 ) 571,377 — ( 526,946 ) Derivatives 254,856 423,341 10,033 27,461 12,324 676,368 559,144 ( 688,230 ) — 1,275,297 Income taxes 117,371 ( 1,013,037 ) ( 27,490 ) ( 588,389 ) ( 55,206 ) ( 129,247 ) ( 6,754 ) 923,156 — ( 779,596 ) Profit from continuing operations ( 122,296 ) 2,534,856 115,168 1,292,647 75,102 778,249 3,580,352 ( 2,527,728 ) ( 2,843,998 ) 2,882,352 Profit (loss) from discontinued operation, net of tax — — — — — — 11,021 — — 11,021 Profit (loss) for the year ( 122,296 ) 2,534,856 115,168 1,292,647 75,102 778,249 3,591,373 ( 2,527,728 ) ( 2,843,998 ) 2,893,373 Profit (loss) attributable to: Owners of the Company ( 183,784 ) 2,467,692 115,168 1,255,369 72,971 157,216 3,586,632 ( 2,399,076 ) ( 3,755,847 ) 1,316,341 Non-controlling interests 61,488 67,164 — 37,278 2,131 621,033 4,741 ( 128,652 ) 911,849 1,577,032 ( 122,296 ) 2,534,856 115,168 1,292,647 75,102 778,249 3,591,373 ( 2,527,728 ) ( 2,843,998 ) 2,893,373 Other select data Depreciation and amortization 2,833,200 284,952 507,702 459,584 97,827 1,716,185 14,281 ( 3,625,854 ) — 2,287,877 EBITDA 3,352,883 4,049,226 970,866 2,521,001 324,929 3,821,498 4,094,018 ( 8,372,975 ) ( 2,843,998 ) 7,917,448 Additions to PP&E, intangible 2,902,907 339,987 343,367 775,769 32,854 1,943,063 11,251 ( 3,586,261 ) — 2,762,937 Reconciliation of EBITDA Profit (loss) for the year ( 122,296 ) 2,534,856 115,168 1,292,647 75,102 778,249 3,580,352 ( 2,527,728 ) ( 2,843,998 ) 2,882,352 Income taxes ( 117,371 ) 1,013,037 27,490 588,389 55,206 129,247 6,754 ( 923,156 ) — 779,596 Finance results, net 759,350 216,381 320,506 180,381 96,794 1,197,817 492,631 ( 1,296,237 ) — 1,967,623 Depreciation and amortization 2,833,200 284,952 507,702 459,584 97,827 1,716,185 14,281 ( 3,625,854 ) — 2,287,877 EBITDA 3,352,883 4,049,226 970,866 2,521,001 324,929 3,821,498 4,094,018 ( 8,372,975 ) ( 2,843,998 ) 7,917,448 (i) December 31, 2018 Reported segments Reconciliation Raízen Raízen Combustíveis Gas and Moove Logistics Cosan Deconsolidated Segment Brazil Argentina Consolidated Statement of profit or loss Gross sales 21,296,564 85,793,511 4,497,337 8,695,208 4,381,188 6,889,477 — ( 111,587,412 ) ( 40,128 ) 19,925,745 Domestic market ( i ) 16,271,074 83,350,683 4,497,337 8,695,208 4,242,819 6,889,177 — ( 104,119,094 ) ( 40,128 ) 19,787,076 External market ( i ) 5,025,490 2,442,828 — — 138,369 300 — ( 7,468,318 ) — 138,669 Net sales 19,798,546 81,960,154 3,243,937 6,840,011 3,449,949 6,584,937 ( 1 ) ( 105,002,637 ) ( 40,128 ) 16,834,768 Cost of sales ( 18,136,443 ) ( 78,223,747 ) ( 3,074,701 ) ( 4,901,715 ) ( 2,781,084 ) ( 4,465,634 ) — 99,434,891 40,128 ( 12,108,305 ) Gross profit 1,662,103 3,736,407 169,236 1,938,296 668,865 2,119,303 ( 1 ( 5,567,746 ) — 4,726,463 Selling expenses ( 768,831 ) ( 1,378,292 ) ( 128,443 ) ( 613,046 ) ( 393,317 ) ( 12,871 ) — 2,275,566 — ( 1,019,234 ) General and administrative expenses ( 664,690 ) ( 479,848 ) ( 46,400 ) ( 367,670 ) ( 132,336 ) ( 301,698 ) ( 173,836 ) 1,190,938 — ( 975,540 ) Other expenses, net 570,343 455,250 11,566 763,608 2,393 ( 65,303 ) 46,584 ( 1,037,159 ) — 747,282 Interest in earnings of associates — ( 9,954 ) — — ( 349 ) 10,179 2,119,282 9,954 ( 2,084,046 ) 45,066 Interest in earnings of joint ventures 22,139 1 — — — — 946,282 ( 22,140 ) — 946,282 Finance results, net ( 318,335 ) ( 445,909 ) ( 7,692 ) 78,773 ( 27,279 ) ( 1,208,820 ) ( 441,096 ) 771,936 — ( 1,598,422 ) Finance expense ( 968,066 ) ( 460,734 ) ( 12,818 ) ( 504,071 ) ( 35,157 ) ( 1,518,156 ) ( 779,379 ) 1,441,618 — ( 2,836,763 ) Finance income 583,546 206,718 5,686 581,181 9,928 224,531 216,518 ( 795,950 ) — 1,032,158 Foreign exchange, net ( 90,780 ) ( 763,008 ) ( 560 ) ( 93,780 ) ( 26,875 ) ( 668,064 ) ( 763,647 ) 854,348 — ( 1,552,366 ) Derivatives 156,965 571,115 — 95,443 24,825 752,869 885,412 ( 728,080 ) — 1,758,549 Income taxes 9,007 ( 443,136 ) ( 8,221 ) ( 540,995 ) ( 49,439 ) ( 268,439 ) 98,386 442,350 — ( 760,487 ) Profit from continuing operations 511,736 1,434,519 ( 9,954 ) 1,258,966 68,538 272,351 2,595,601 ( 1,936,301 ) ( 2,084,046 ) 2,111,410 Profit (loss) from discontinued operation, net of tax — — — — — — ( 28,230 ) — — ( 28,230 ) Profit (loss) for the year 511,736 1,434,519 ( 9,954 ) 1,258,966 68,538 272,351 2,567,371 ( 1,936,301 ) ( 2,084,046 ) 2,083,180 Profit (loss) attributable to: Owners of the Company 507,580 1,386,361 ( 9,954 ) 1,008,190 67,882 54,114 2,562,278 ( 1,883,987 ) ( 2,717,016 ) 975,448 Non-controlling interests 4,156 48,158 — 250,776 656 218,237 5,093 ( 52,314 ) 632,970 1,107,732 511,736 1,434,519 ( 9,954 ) 1,258,966 68,538 272,351 2,567,371 ( 1,936,301 ) ( 2,084,046 ) 2,083,180 Other select data Depreciation and amortization 2,147,455 191,114 76,140 464,517 91,972 1,491,306 4,029 ( 2,414,709 ) — 2,051,824 EBITDA 2,968,519 2,514,678 82,099 2,185,705 237,228 3,240,916 2,942,340 ( 5,565,296 ) ( 2,084,046 ) 6,522,143 Additions to PP&E, intangible and contract asset 2,571,359 51,424 343,367 531,739 47,346 1,996,746 52,322 ( 2,966,150 ) — 2,628,153 Reconciliation of EBITDA Profit (loss) for the year 511,736 1,434,519 ( 9,954 ) 1,258,966 68,538 272,351 2,595,601 ( 1,936,301 ) ( 2,084,046 ) 2,111,410 Income taxes ( 9,007 ) 443,136 8,221 540,995 49,439 268,439 ( 98,386 ) ( 442,350 ) — 760,487 Finance results, net 318,335 445,909 7,692 ( 78,773 ) 27,279 1,208,820 441,096 ( 771,936 ) — 1,598,422 Depreciation and amortization 2,147,455 191,114 76,140 464,517 91,972 1,491,306 4,029 ( 2,414,709 ) — 2,051,824 EBITDA 2,968,519 2,514,678 82,099 2,185,705 237,228 3,240,916 2,942,340 ( 5,565,296 ) ( 2,084,046 ) 6,522,143 (i) December 31, 2020 Reported segments Reconciliation Raízen Raízen Combustíveis Gas and Moove Logistics Cosan Deconsolidated Segment Brazil Argentina Consolidated Statement of financial position Assets 44,981,452 25,923,490 7,344,448 15,027,675 4,439,453 45,912,604 33,324,494 ( 78,249,390 ) ( 14,990,661 ) 83,713,565 Cash and cash equivalents 2,293,506 752,369 396,039 1,899,533 936,345 7,778,612 3,028,428 ( 3,441,914 ) — 13,642,918 Marketable securities — — — 1,188,625 168,066 1,396,723 915,695 — — 3,669,109 Trade receivables 1,835,656 2,070,824 358,816 1,121,612 483,227 428,492 110 ( 4,265,296 ) — 2,033,441 Derivative financial instruments 4,904,580 2,835,980 — 517,181 28,463 3,988,524 3,606,532 ( 7,740,560 ) — 8,140,700 Inventories 3,975,086 3,068,435 1,274,045 121,064 564,836 249,318 46 ( 8,317,566 ) — 935,264 Sector financial assets — — — 241,749 — — — — — 241,749 Other financial assets 160,600 — — — 69,126 — — ( 160,600 ) — 69,126 Other current assets 4,862,274 3,526,980 769,740 276,139 146,166 685,659 1,938,096 ( 9,158,994 ) ( 764,392 ) 2,281,668 Other non-current assets 5,374,084 2,247,516 61,018 169,905 398,796 2,613,480 1,566,428 ( 7,682,618 ) ( 410,191 ) 4,338,418 Investments in associates — 3,299,738 356 — — 50,715 14,149,214 ( 3,300,094 ) ( 13,816,078 ) 383,851 Investments in joint ventures 536,540 769,252 — — — — 7,988,208 ( 1,305,792 ) — 7,988,208 Biological assets 1,073,582 — — — — — — ( 1,073,582 ) — — Contract asset — 2,241,618 95,840 686,690 9,248 — — ( 2,337,458 ) — 695,938 Right-of-use assets 4,698,238 86,737 425,391 19,865 39,550 7,823,401 33,414 ( 5,210,366 ) — 7,916,230 Property, plant and equipment 11,667,442 2,544,094 3,953,982 15,326 327,535 13,646,248 79,397 ( 18,165,518 ) — 14,068,506 Intangible assets and goodwill 3,599,864 2,479,947 9,221 8,769,986 1,268,095 7,251,432 18,926 ( 6,089,032 ) — 17,308,439 Liabilities ( 34,923,572 ) ( 19,568,358 ) ( 4,044,354 ) ( 11,681,752 ) ( 2,473,884 ) ( 32,359,866 ) ( 17,553,779 ) 58,536,284 1,174,583 ( 62,894,698 ) Loans, borrowings and debentures ( 17,516,886 ) ( 6,258,929 ) ( 781,703 ) ( 7,043,909 ) ( 802,938 ) ( 21,656,908 ) ( 12,745,705 ) 24,557,518 — ( 42,249,460 ) Derivative financial instruments ( 4,502,866 ) ( 246,237 ) ( 15,155 ) ( 286,018 ) ( 348 ) — ( 159,695 ) 4,764,258 — ( 446,061 ) Trade payables ( 3,244,436 ) ( 5,203,174 ) ( 863,672 ) ( 1,182,111 ) ( 688,139 ) ( 754,546 ) ( 5,258 ) 9,311,282 — ( 2,630,054 ) Employee benefits payable ( 383,114 ) ( 85,993 ) ( 65,269 ) ( 74,543 ) ( 96,192 ) ( 139,058 ) ( 26,673 ) 534,376 — ( 336,466 ) Sector financial liabilities — — — ( 565,911 ) — — — — — ( 565,911 ) Other current liabilities ( 3,014,286 ) ( 2,729,837 ) ( 1,186,505 ) ( 662,779 ) ( 290,827 ) ( 950,582 ) ( 2,006,371 ) 6,930,628 204,366 ( 3,706,193 ) Preferred shareholders payable in subsidiaries — — — — — — ( 387,044 ) — — ( 387,044 ) Leases ( 4,246,196 ) ( 101,500 ) ( 387,074 ) ( 10,320 ) ( 41,299 ) ( 2,912,317 ) ( 37,911 ) 4,734,770 — ( 3,001,847 ) Other non-current liabilities ( 2,015,788 ) ( 4,942,688 ) ( 744,976 ) ( 1,856,161 ) ( 554,141 ) ( 5,946,455 ) ( 2,185,122 ) 7,703,452 970,217 ( 9,571,662 ) Total assets (net of liabilities) allocated by segment 10,057,880 6,355,132 3,300,094 3,345,923 1,965,569 13,552,738 15,770,715 ( 19,713,106 ) ( 13,816,078 ) 20,818,867 Equity attributable to: Owners of the Company 9,967,891 6,075,393 3,300,094 3,288,315 1,367,157 2,150,052 12,270,637 ( 19,343,378 ) ( 13,816,078 ) 5,260,083 Non-controlling interests 89,989 279,739 — 57,608 598,412 11,402,686 3,500,078 ( 369,728 ) — 15,558,784 Total shareholders’ equity 10,057,880 6,355,132 3,300,094 3,345,923 1,965,569 13,552,738 15,770,715 ( 19,713,106 ) ( 13,816,078 ) 20,818,867 December 31, 2019 Reported segments Reconciliation Raízen Raízen Combustíveis Gas and Moove Logistics Cosan Deconsolidated Segment Brazil Argentina Consolidated Statement of financial position Assets 42,843,360 24,252,100 6,549,006 12,038,100 3,499,109 32,838,038 31,055,233 ( 73,644,466 ) ( 13,712,606 ) 65,717,874 Cash and cash equivalents 2,715,055 1,036,151 266,309 1,083,410 610,605 1,963,018 4,815,241 ( 4,017,515 ) — 8,472,274 Marketable securities — — — 200,233 43,856 1,751,853 1,119,561 — — 3,115,503 Trade receivables 1,135,079 2,455,365 442,204 987,397 427,714 399,249 34 ( 4,032,648 ) — 1,814,394 Derivative financial instruments 2,139,240 911,874 5,164 374,730 17,005 1,624,023 1,808,652 ( 3,056,278 ) — 3,824,410 Inventories 4,592,428 3,007,893 1,099,632 89,586 449,211 248,456 69 ( 8,699,953 ) — 787,322 Other financial assets 602,542 — — — 134,636 — 17,127 ( 602,542 ) — 151,763 Other current assets 7,125,332 3,506,579 872,413 315,744 165,070 604,988 1,307,712 ( 11,504,324 ) ( 789,265 ) 1,604,249 Other non-current assets 4,196,166 2,014,958 24,095 90,662 150,683 2,638,286 1,562,823 ( 6,235,219 ) ( 488,228 ) 3,954,226 Investments in associates — 2,612,576 276 — 365 52,012 12,760,443 ( 2,612,852 ) ( 12,435,113 ) 377,707 Investments in joint ventures 577,008 727,936 — — — — 7,548,960 ( 1,304,944 ) — 7,548,960 Biological asset 734,495 — — — — — — ( 734,495 ) — — Contract asset — 2,736,589 48,985 594,602 5,939 — — ( 2,785,574 ) — 600,541 Right-of-use assets 4,017,503 97,374 476,251 10,128 22,592 4,410,952 26,058 ( 4,591,128 ) — 4,469,730 Property, plant and equipment 11,342,326 2,595,878 3,304,040 — 310,007 11,770,168 72,961 ( 17,242,244 ) — 12,153,136 Intangible assets and goodwill 3,666,186 2,548,927 9,637 8,291,608 1,161,426 7,375,033 15,592 ( 6,224,750 ) — 16,843,659 Liabilities ( 32,407,587 ) ( 19,173,669 ) ( 3,936,154 ) ( 9,151,581 ) ( 1,911,413 ) ( 24,222,467 ) ( 15,469,425 ) 55,517,410 1,277,493 ( 49,477,393 ) Loans, borrowings and debentures ( 15,653,705 ) ( 5,745,735 ) ( 912,807 ) ( 5,244,942 ) ( 670,263 ) ( 11,720,477 ) ( 11,416,533 ) 22,312,247 — ( 29,052,215 ) Derivative financial instruments ( 1,422,923 ) ( 325,018 ) — — ( 1,801 ) ( 482 ) ( 78,768 ) 1,747,941 — ( 81,051 ) Trade payables ( 5,101,474 ) ( 2,568,885 ) ( 943,789 ) ( 1,154,206 ) ( 515,759 ) ( 513,325 ) ( 6,974 ) 8,614,148 — ( 2,190,264 ) Employee benefits payable ( 360,414 ) ( 77,692 ) ( 48,752 ) ( 59,928 ) ( 70,068 ) ( 216,685 ) ( 34,656 ) 486,858 — ( 381,337 ) Other current liabilities ( 4,317,609 ) ( 5,859,807 ) ( 856,185 ) ( 683,555 ) ( 217,705 ) ( 711,305 ) ( 1,113,182 ) 11,033,601 471,621 ( 2,254,126 ) Preferred shareholders payable in subsidiaries — — — — — — ( 611,537 ) — — ( 611,537 ) Leases ( 3,504,501 ) ( 103,807 ) ( 439,860 ) ( 10,843 ) ( 27,431 ) ( 4,529,139 ) ( 27,475 ) 4,048,168 — ( 4,594,888 ) Other non-current liabilities ( 2,046,961 ) ( 4,492,725 ) ( 734,761 ) ( 1,998,107 ) ( 408,386 ) ( 6,531,054 ) ( 2,180,300 ) 7,274,447 805,872 ( 10,311,975 ) Total assets (net of liabilities) allocated by segment 10,435,773 5,078,431 2,612,852 2,886,519 1,587,696 8,615,571 15,585,808 ( 18,127,056 ) ( 12,435,113 ) 16,240,481 Equity attributable to: Owners of the Company 10,358,052 4,808,076 2,612,852 2,861,954 1,107,136 1,746,668 5,401,865 ( 17,778,980 ) ( 5,715,758 ) 5,401,865 Non-controlling interests 77,721 270,355 — 24,565 480,560 6,868,903 10,183,943 ( 348,076 ) ( 6,719,355 ) 10,838,616 Total shareholders’ equity 10,435,773 5,078,431 2,612,852 2,886,519 1,587,696 8,615,571 15,585,808 ( 18,127,056 ) ( 12,435,113 ) 16,240,481 6.1. Net sales by customer by segment December 31, December 31, December 31, Reported segment Raízen Energia Ethanol 12,372,878 11,388,766 8,569,437 Sugar 10,241,141 3,925,499 3,670,749 Gas 1,655,484 2,967,137 758,572 Diesel 4,626,749 6,469,695 3,314,377 Cogeneration 2,282,158 3,934,639 2,836,658 Other 483,136 149,573 648,753 31,661,546 28,835,309 19,798,546 Raízen Combustíveis Fuels 85,342,742 99,000,662 84,031,837 Other 1,045,434 1,513,492 1,172,254 86,388,176 100,514,154 85,204,091 Gas and Energy Natural gas distribution Industrial 5,030,738 6,045,600 4,411,737 Residential 1,381,597 1,295,107 986,073 Cogeneration 389,732 437,327 315,925 Automotive 220,130 350,637 262,813 Commercial 350,760 507,550 387,069 Construction revenue 885,630 813,341 415,753 Other 59,104 64,660 60,641 8,317,691 9,514,222 6,840,011 Electricity trading 775,479 — — 9,093,170 9,514,222 6,840,011 Moove Finished goods 3,891,551 3,786,636 3,096,658 Base oil 392,153 194,353 317,878 Services 131,871 65,307 35,413 4,415,575 4,046,296 3,449,949 Logistics North operations 5,270,436 5,313,757 4,913,437 South operations 1,409,872 1,478,314 1,412,300 Container operations 285,851 295,769 259,200 6,966,159 7,087,840 6,584,937 Reconciliation Cosan Corporate 818 98 ( 1 ) Deconsolidated ( 118,087,609 ) ( 129,386,510 ) ( 105,042,765 ) Total 20,437,835 20,611,409 16,834,768 6.2. Information on geographical area Net sales Non-current assets December 31, December 31, December 31, December 31, December 31, Brazil 18,100,012 18,522,108 14,720,088 12,577,376 8,238,016 Europe ( i ) 1,867,284 1,719,262 1,836,739 11,401 71,689 Latin America (ii) 360,798 184,981 157,287 — — North America 62,760 157,665 55,549 24,684 23,140 Asia and other 46,981 27,393 65,105 — — Total 20,437,835 20,611,409 16,834,768 12,613,461 8,332,845 Main countries: (i) England, France, Spain and Portugal; and (ii) Argentina, Bolivia, Uruguay and Paraguay. 6.3. Major Customers The majority of the cargo Rumo transports and port elevation is for the agricultural commodities industry, especially corn, sugar, soy and derivatives thereof. Rumo’s major clients are export companies participating in this market. This participation corresponds approximately to the following amounts of net revenue in each year: R$ 2,939,945 2020 773,286 2019 912,943 2018 |
Financial assets and liabilitie
Financial assets and liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Financial assets and liabilities | |
Financial assets and liabilities | 7. Financial assets and liabilities Accounting policy The Company initially measures a financial asset Debt financial instruments are subsequently measured at fair value through profit or loss, amortized cost or fair value through other comprehensive income. The classification is based on two The Company recognizes its financial assets at amortized cost for financial assets that are maintained within a business model in order to obtain contractual cash flows that meet the “Principal and Interest” criteria. This category includes trade receivables, cash and cash equivalents, receivables from related parties, other financial assets and dividends and interest on capital receivable. No remeasurement of financial assets was carried out. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership. Financial liabilities are classified as measured at amortized cost or at fair value through profit or loss. A financial liability is classified as at fair value through profit or loss if it is classified as held-for-sale, it is a derivative or it is designated as such on initial recognition. Financial liabilities at fair value through profit or loss are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss. Other financial liabilities are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss. The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. The Company also derecognizes a financial liability when its terms are modified, and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. Any gain or loss on derecognition is also recognized in profit or loss. The carrying amount of financial assets and financial liabilities are as follows: December 31, 2020 December 31, 2019 Note Assets Fair value through profit or loss Cash and cash equivalents 7.1 2,155,446 3,279,170 Marketable securities 7.2 3,669,109 3,115,503 Other financial assets 69,126 151,763 Derivate financial instruments 7.9 8,140,700 3,824,410 14,034,381 10,370,846 Amortized cost Cash and cash equivalents 7.1 11,487,472 5,193,104 Trade receivables 7.3 2,033,441 1,814,394 Receivables from related parties 7.4 929,690 173,341 Sector financial assets 15 241,749 — Dividend receivable 80,755 23,252 14,773,107 7,204,091 Total assets 28,807,488 17,574,937 Liabilities Amortized cost Loans, borrowings and debentures 7.5 ( 23,393,880 ) ( 12,682,049 ) Leases 7.6 ( 3,001,847 ) ( 4,594,888 ) Trade payables 7.7 ( 2,630,054 ) ( 2,190,264 ) Other financial liabilities ( 594,188 ) ( 543,879 ) Payables to related parties 7.4 ( 307,080 ) ( 392,458 ) Railroad concession payable 14 ( 1,154,919 ) — Preferred shareholders payable in subsidiaries 7.8 ( 387,044 ) ( 611,537 ) Dividends payable ( 1,413,222 ) ( 214,104 ) Sector financial liabilities 15 ( 565,911 ) — Tax installments - REFIS 16 ( 202,377 ) ( 213,360 ) ( 33,650,522 ) ( 21,442,539 ) Fair value through profit or loss Loans, borrowings and debentures 7.5 ( 18,855,580 ) ( 16,370,166 ) Consideration payable ( 224,787 ) ( 184,370 ) Derivative financial instruments 7.9 ( 446,061 ) ( 81,051 ) ( 19,526,428 ) ( 16,635,587 ) Total liabilities ( 53,176,950 ) ( 38,078,126 ) 7.1 Cash and cash equivalents Accounting policy Cash and cash equivalents comprise cash balances, call deposits and highly liquid short-term investments with maturities of three December 31, 2020 December 31, 2019 Cash and bank accounts 4,134,074 363,084 Savings account 986,379 885,740 Financial investments 8,522,465 7,223,450 13,642,918 8,472,274 Financial investments include the following: December 31, 2020 December 31, 2019 Investment fund Repurchase agreements 1,672,688 2,799,706 Bank certificate of deposits 475,213 479,464 Other 7,545 — 2,155,446 3,279,170 Bank investments Repurchase agreements 1,293,833 1,400,735 Bank certificate of deposits 5,015,244 2,340,125 Other 57,942 203,420 6,367,019 3,944,280 8,522,465 7,223,450 Repurchase agreements refer to the purchase of securities, with a commitment to repurchase them at a rate previously established by the parties, usually with a fixed term of up to 90 Bank deposit certificates ( Certificado de Depósito Bancário 90 The onshore financial investments are remunerated at rates around 97 Certificados de Depósitos Interbancários 2020 100 2019 100 7.11 7.2 Marketable securities and restricted cash Accounting policy Marketable securities are measured and classified at fair value through profit or loss. The securities include all equity securities with a readily determinable fair value. Fair values for equity securities are deemed readily determinable if the securities are listed or if a current market value or fair value is available even without a direct listing (e.g. prices for shares in investment funds). Restricted cash are measured and classified at amortized cost, both of them with the average maturity of government bonds between two five December 31, 2020 December 31, 2019 Marketable securities Government security (i) 3,543,886 2,719,630 CDB 116,963 125,413 Repurchase agreements 8,260 270,460 3,669,109 3,115,503 Restricted cash Investments linked to loans — 86,681 Securities pledged as collateral 34,562 61,229 34,562 147,910 (i) Government securities have stated interest connected to Special System for Settlement and Custody ( Sistema Especial de Liquidação e de Custódia two and five years 7.3 Trade receivables Accounting policy Trade receivables are recognized initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognized at fair value. The Company holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. To measure the expected credit losses, trade receivables have been grouped based on credit risk characteristics and days overdue. A loss allowance for expected credit losses is recognized in selling expense. Expected loss rates are based on corresponding historical credit losses suffered in the period. Historical loss rates may be adjusted to reflect current and forward-looking information regarding macroeconomic factors that affect the customers’ ability to settle the receivables. The Company identified the interest rate implied in the agreement as the most relevant factor, and consequently adjusts historical loss rates based on the expected changes in this factor. December 31, 2020 December 31, 2019 Domestic – Brazilian reais 1,432,805 1,251,828 Export – foreign currency 68,867 60,401 Unbilled receivables (i) 667,793 622,572 2,169,465 1,934,801 Expected credit losses (ii) ( 136,024 ) ( 120,407 ) 2,033,441 1,814,394 Current 2,007,140 1,786,095 Non-current 26,301 28,299 2,033,441 1,814,394 (i) Accrued unbilled revenue based on estimated amounts of natural gas and electricity delivered but not yet billed to customers. See accounting policy in Note 21 (ii) Of the total recognized, the amount of R$ 14,000 19 pandemic, as detailed in Note 2.1 The aging of trade receivables is as follows: December 31, 2020 December 31, 2019 Not overdue 1,814,202 1,552,912 Overdue: From 1 30 166,467 175,112 From 31 60 23,169 32,925 From 61 90 14,156 36,337 More than 90 151,471 137,515 Expected credit losses ( 136,024 ) ( 120,407 ) 2,033,441 1,814,394 Changes in the expected credit losses are as follows: At January 1, 2019 ( 125,584 ) Provision / reversal ( 32,041 ) Write-off 37,218 At December 31, 2019 ( 120,407 ) Provision / reversal ( 39,187 ) Write-off 23,570 At December 31, 2020 ( 136,024 ) 7.4 Related parties Accounting policy Commercial, financial and corporate operations involving related parties are carried out as established in the agreements and are made at regular market prices. The outstanding balances at period-end are not guaranteed nor are they subject to interest, and they are settled in cash. There were no guarantees given or received regarding any accounts receivable or payable involving related parties. On December 31, 2020, there was no impairment of receivables, as no evidence of impairment was identified related to amounts owed by related parties. a) Summary of balances with related parties December 31, 2020 December 31, 2019 Current assets Corporate / agreement operations Raízen Energia (i) 73,913 50,296 Aguassanta Participações S.A. 837 444 Raízen Combustíveis (i) 11,171 7,588 Other 17,171 291 103,092 58,619 Financial operations Aguassanta Participações S.A. (ii) 576,957 — 576,957 — Total current assets 680,049 58,619 Non-current assets Corporate / agreement operations Raízen Combustíveis (i) 45,895 36,410 Other 48,571 — 94,466 36,410 Preferred shares Raízen Energia (i) 155,175 78,304 Janus Brasil Participações S.A. — 8 155,175 78,312 Total non-current assets 249,641 114,722 Total assets 929,690 173,341 Current liabilities Corporate / agreement operations Raízen Energia (i) 146,722 262,612 Raízen Combustíveis (i) 154,366 127,773 Other 1,158 2,073 302,246 392,458 Financial operations Raízen Energia 4,834 — 4,834 — Total liabilities 307,080 392,458 (i) Current and non-current assets receivable from Raízen Energia and Raízen Combustíveis are, primarily, tax credits which will be reimbursed to the Company when realized. The preferred shares are used to Raízen reimburse Cosan, with preferential dividends, when the net operating loss is consumed in Raízen. Current liabilities represent reimburse to Raízen Energia and Raízen Combustíveis related to expenses regarding legal disputes and other liabilities, generated before the formation of joint ventures, which are responsibility of Cosan S.A. (ii) On December 11, 2020, the Company disposal 13,021,744 shares that were held in treasury to S.A. (“ ”) paid on January 8, 2021. b) Related party transactions December 31, 2020 December 31, 2019 December 31, 2018 Revenue Raízen International Universal Corporation 5,143 — — Raízen Energia 483,934 298,980 304,648 Raízen Combustíveis 186,359 221,369 188,895 Other 268 7,010 15,117 675,704 527,359 508,660 Purchase of goods / inputs / services Raízen Energia ( 6,160 ) ( 7,010 ) ( 3,672 ) Raízen Combustíveis ( 1,130,531 ) ( 1,240,781 ) ( 1,205,231 ) Other ( 939 ) — — ( 1,137,630 ) ( 1,247,791 ) ( 1,208,903 ) Shared expense Raízen Energia ( 81,018 ) ( 71,978 ) ( 73,105 ) ( 81,018 ) ( 71,978 ) ( 73,105 ) Financial result Usina Santa Luiza S.A. — ( 41 ) ( 241 ) Raízen Energia 4 — 4,100 Raízen Combustíveis 6,341 5,729 — Other 47 ( 5 ) 2,879 6,392 5,683 6,738 Total ( 536,552 ) ( 786,727 ) ( 766,610 ) c) Officers’ and directors’ compensation The Company has a compensation policy approved by the Board of Directors. Compensation of the Company’s key management personnel includes salaries, contributions to a post-employment defined benefit plan and share-based payment. We present below the consolidated balance on December 31, 2020, as follows: December 31, 2020 December 31, 2019 December 31, 2018 Short-term benefits to officers and directors 102,250 88,440 86,810 Share-based payment transactions 15,441 16,823 11,423 Post-employment benefits 1,045 728 2,216 118,736 105,991 100,449 7.5 Loans, borrowings and debentures Accounting policy Borrowings are initially recognized at fair value, net of transaction costs. Borrowings are subsequently measured at amortized cost. Borrowings are derecognized when the obligation specified in the contract is discharged, canceled or expires. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss as other income or finance costs. Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least 12 Financial guarantee contracts issued by the Business are initially measured at their fair values and, if not designated as at fair value through profit or loss, are subsequently measured at the higher of: the amount of the obligation under the contract; and the amount initially recognized less, where appropriate, cumulative amortization recognized in accordance with the revenue recognition policies. The terms and conditions of outstanding loans are as follows: Annual December 31, 2020 December 31, 2019 Description Index Maturity Objective Secured BNDES TJLP 5.09 — 1,667 Jun-2023 Investment URTJLP 6.63 3,321,839 2,213,704 Dec-2029 Investment Fixed 5.61 647,435 834,039 Jan-2025 Investment TJ462 + 1.80% 7.89 — 144,573 Oct-2020 Investment TJLP + 2.00% 7.09 — 83,174 Jun-2023 Investment Selic + 1.80% 5.52 — 73,540 Oct-2020 Investment Selic 3.52 — 1,118 Sep- 2020 Investment Selic + 1.96% 5.68 — 52,031 Jun-2023 Investment IPCA 7.46 796 1,528 Nov-2021 Investment URTJLP 10.34 396 4,952 Mar- 2022 Investment Fixed 3.50 1,077 1,426 Jan-2024 Investment IPCA + 3.25% 7.75 807,438 — Apr-2029 Investment IPCA + 4.10% 8.64 175,374 — Apr-2029 Investment Export credit agreement Euribor + 0.58% 0.58 104,108 79,528 Sep-2026 Investment European investment bank U.S.$ + 3.88% 3.88 — 31,770 Jun-2020 Investment U .S.$ + 2.94 2.94 — 29,081 Sep-2020 Investment U.S.$ + Libor 6-month + 0.54% 0.80 30,817 71,129 May-2021 Investment U.S.$ + Libor 6-month + 0.61% 0.89 57,813 89,336 Sep-2021 Investment 5,147,093 3,712,596 Unsecured Foreign loans GBP + Libor 6-month + 1.50% 1.68 143,039 150,253 Jul-2021 Acquisition GBP | Fixed 1.40 35,556 — Nov-2022 Acquisition GBP + Libor 6-month + 1.10% 1.21 142,091 106,643 Dec-2021 Acquisition GBP + Libor 6-month + 1.50% 1.53 248,666 186,604 Dec-2022 Acquisition EUR | Fixed 1.16 2,095 3,561 Sep-2022 Investment Export credit notes CDI + 1.03% 3.12 82,185 — Feb-2023 Investment CDI + 0.80% 2.72 505,061 512,078 Dec-2023 Investment CDI + 3.05% 5.01 208,464 — Mar-2021 Investment CDI + 3.15% 5.11 468,516 — Mar-2021 Investment Resolution 4,131 U.S.$ + Libor 2.90 — 81,107 Feb-2020 Working capital U.S.$ 4.79 — 20,688 Oct-2020 Working capital U.S.$ | Fixed 1.60 483,625 217,537 Nov-2022 Working capital CDI 4.60 206,908 — Apr-2021 Working capital U.S.$ + 3.67% 3.67 415,232 313,493 May-2023 Investment U.S.$ + 1.59% 1.59 388,912 — Apr-2021 Investment Banking credit certificates IPCA + 0.81% 5.31 239,068 — Jan-2048 Working capital Perpetual Notes U.S.$ 8.25 2,631,100 2,040,752 Nov-2040 Acquisition Senior Notes Due 2023 U.S.$ | Fixed 5.00 569,466 438,985 Mar-2023 Acquisition Senior Notes Due 2024 U.S.$ | Fixed 7.38 4,514,289 3,318,895 Feb-2024 Acquisition Senior Notes Due 2024 U.S.$ | Fixed 5.95 1,232,844 903,636 Sep-2024 Acquisition Senior Notes Due 2025 U.S.$ | Fixed 5.88 3,067,359 2,182,089 Jan-2025 Acquisition Senior Notes Due 2027 U.S.$ | Fixed 7.00 4,379,812 3,234,648 Jan-2027 Acquisition Senior Notes Due 2028 U.S.$ | Fixed 5.25 2,640,840 — Jan-2028 Acquisition Senior Notes Due 2029 U.S.$ | Fixed 5.50 3,932,483 3,071,052 Sep-2029 Acquisition Prepayment Libor 3-month + 3.50% 3.75 27,129 — Mar-2021 Working capital Libor 3-month + 1.00% 1.21 104,318 80,931 Nov-2021 Working capital Libor 12-month + 0.76% 2.72 — 40,474 Oct-2020 Working capital Bank overdrafts 125% of CDI 5.53 4,318 740 Feb-2021 Working capital Debentures 106% of CDI 2.94 — 1,727,459 Feb-2021 Working capital IPCA +4.68% 9.24 595,847 570,098 Feb-2026 Investment IPCA +4.50% 9.06 739,202 668,034 Feb-2029 Investment IPCA +5.57% 7.29 — 108,133 Sep-2020 Investment CDI + 2.65% 4.60 1,740,551 — Aug-2025 Investment IPCA + 6.80% 11.46 803,745 — Apr-2030 Investment IPCA + 3.90% 8.43 1,025,777 895,249 Oct-2029 Investment IPCA + 4.00% 8.53 255,501 219,466 Oct-2029 Investment IPCA + 7.14% 9.40 — 318,412 Dec-2020 Investment IPCA + 7.48% 12.17 299,524 286,271 Dec-2022 Investment IPCA + 7.36% 12.04 97,956 94,367 Dec-2025 Investment IPCA + 5.87% 10.49 890,658 859,996 Dec-2023 Investment IPCA + 4.33% 8.88 452,457 431,817 Oct-2024 Investment IGPM + 6.10% 31.46 298,706 240,900 May-2028 Investment CDI + 0.50% 2.41 2,007,848 2,015,251 Oct-2022 Investment Working capital CDI + 2.75% 4.70 100,045 — Jun-2022 Working capital Promissory notes CDI + 3.00% 4.96 601,058 — Apr-2021 Investment CDI + 3.40% 5.36 520,116 — Apr-2021 Investment 37,102,367 25,339,619 Total 42,249,460 29,052,215 Current 4,929,069 3,518,225 Non-current 37,320,391 25,533,990 The Company used the annual average rate of the CDI of 1.90 % and Long-term Interest Rate (Taxa de de Longo ), or “TJLP,” of 4.55 %. Non-current borrowings are scheduled to fall due as follows: December 31, 2020 December 31, 2019 13 24 3,759,874 1,813,849 25 36 3,667,857 3,240,861 37 48 7,480,137 2,294,198 49 60 4,298,007 5,032,388 61 72 640,000 2,520,671 73 84 5,427,729 456,983 85 96 4,023,694 3,821,149 Thereafter 8,023,093 6,353,891 37,320,391 25,533,990 The carrying amounts of loans, borrowings and debentures are denominated in the following currencies: December 31, 2020 December 31, 2019 Brazilian reais 17,022,405 12,360,023 U.S. dollar 24,551,500 16,165,603 British pound 569,352 443,500 Euro 106,203 83,089 42,249,460 29,052,215 All debts denominated in U.S. dollar have currency risk protection through derivative financial instruments (Note 7.9 Below are the movements in loans, borrowings and debentures occurred for the year ended December 31, 2020: At January 1, 2019 22,574,313 Proceeds 9,352,123 Repayment of principal ( 4,422,026 ) Payment of interest ( 1,384,184 ) Interest, exchange rate and fair value 2,931,989 At December 31, 2019 29,052,215 Proceeds 10,336,257 Repayment of principal ( 3,397,060 ) Payment of interest ( 1,782,976 ) Interest, exchange rate and fair value 8,041,024 At December 31, 2020 42,249,460 a) Guarantees Some financing agreements with the Brazilian National Economic and Social Development Bank ( Banco Nacional de Desenvolvimento Econômico e Social 1.04 3,687,323 1,920,185 Financing agreements with the European Investment Bank (“EIB”) intended for investments, are also guaranteed, according to each agreement, by bank guarantees with an average cost of 1.47 133,000 213,715 To calculate the average rates, the annual average CDI of 2.78 5.94 4.87 5.57 b) Available credit line As of December 31, 2020, the subsidiary Rumo had available credit lines from BNDES, which were not used, in the total amount of R$ 487,378 1,946,195 On December 31, 2020, the subsidiary Cosan S.A. had available credit lines from financial institutions with AA rating, which were not used, in the total amount of R $ 250,000 501,000 The use of these credit lines is subject to certain contractual conditions. c) Covenants Under the terms of the major borrowing facilities, the Company is required to comply with the following financial covenants: Debt Triggers Ratios BNDES - Comgás Net debt ( i ) ( ii) 4.00 1.69 Resolution 4,131 Promissory note Debentures of 5 th 8 th Debenture of 4 th Short-term indebtedness/Total indebtedness (iii) 0.6 0.26 Senior Notes Due 2027 Net debt pro forma (iv) pro forma ( ii) | (iv) 3.5 2.55 Senior Notes Due 2024 3.08 Senior Notes Due 2029 Senior Notes Due 2024 Net debt ( i ) ( ii) 3.3 1.96 Senior Notes Due 2025 BNDES – Rumo EBITDA ( ii) ( v) 2.0 4.78 (i) Net debt consists of current and non-current debt, net of cash and cash equivalents and marketable securities recorded in these consolidated financial statements. Net debt is a non-GAAP measure. (ii) Corresponds to the accumulated EBITDA of the last twelve (iii) Indebtedness means the sum of current and noncurrent loans, financing and debentures, leases and current and noncurrent derivative financial instruments. (iv) Net debt and EBITDA pro forma , including joint ventures financial information. Net debt and EBITDA pro forma (v) The consolidated financial result of the debt is represented by the cost of the consolidated net debt. For the other loans, borrowings and debentures of the Company there are no debt financial covenants. On December 31, 2020, the Company was in compliance with all debt financial covenants. The terms of loans included cross-default provisions. d) Fair value and exposure to financial risk The fair value of the loans and debentures is based on the discounted cash flow using its implicit discount rate. They are classified as a level 2 7.10 The details of the Company’s exposure to risks arising from loans are shown in Note 7.11 7.6 Leases Accounting policy The Company has adopted IFRS 16 Leases 2018 At the beginning or in the modification of a contract, the Company assesses whether a contract is or contains a lease. The lease liability is initially measured at the present value of lease payments that are not made on the start date, discounted at the interest rate implicit in the lease or, if that rate cannot be determined immediately, by the Company’s incremental loan rate. The Company generally uses its incremental loan rate as a discount rate. At December 31, 2020, the lessee’s incremental borrowing rate applied to the lease liabilities follows a range from 10.90 14.20 Assets and liabilities arising from a lease are initially measured on a present value basis. The lease payments included in the measurement of the lease liability comprise the following: fixed payments, including fixed payments in essence; variable lease payments that depend on index or rate, initially measured using the index or rate on the start date; amounts expected to be paid by the lessee, in accordance with the residual value guarantees; and the exercise price of the call option if the lessee is reasonably certain to exercise that option, and payment of fines for terminating the lease, if the lease term reflects the lessee exercising the option to terminate the lease. To determine the incremental borrowing rate, the Company: where possible, uses recent third-party financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third party financing was received; uses a build-up approach that starts with a risk-free interest rate adjusted for credit risk for leases held by the Company, which does not have recent third part financing; and makes adjustments specific to the lease, e.g. term, country, currency and security. The Company is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Payments associated with short-term leases of equipment and vehicles and all leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 In determining the lease term, the Company considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). For leases of warehouses, retail stores and equipment, the following factors are normally the most relevant: • If there are significant penalties to terminate (or not extend), the group is typically reasonably certain to extend (or not terminate). • If any leasehold improvements are expected to have a significant remaining value, the Company is typically reasonably certain to extend (or not terminate). • Otherwise, the Company considers other factors including historical lease durations and the costs and business disruption required to replace the leased asset. Most extension options in offices and vehicles leases have not been included in the lease liability, because the Company could replace the assets without significant cost or business disruption. Subsequent valuation of the lease liability is at amortized cost, using the effective interest method. It is remeasured when there is a change in future lease payments resulting from a change in index or rate, if there is a change in the amounts that are expected to be paid according to the residual value guarantee, if the Company changes its valuation, an option will be exercised purchase, extension or termination or if there is an essentially fixed revised lease payment. When the lease liability is remeasured in this way, an adjustment corresponding to the carrying amount of the right-of-use asset is made or is recorded in the income statement if the carrying amount of the right-of-use asset has been reduced to zero The balance sheet shows the following amounts relating to lease liabilities: At January 1, 2019 2,023,309 Additions 2,777,275 Interest 512,964 Transfer between liabilities (i) ( 117,428 ) Repayment of principal ( 423,283 ) Payment of interest ( 249,325 ) Monetary adjustment 71,376 At December 31, 2019 4,594,888 Additions 3,531,470 Interest 606,529 Transfer between liabilities (i) ( 111,737 ) Repayment of principal ( 5,424,917 ) Payment of interest ( 500,922 Monetary adjustment 306,536 At December 31, 2020 3,001,847 Current 531,410 Non-current 2,470,437 (i) Transfer of railroad concession payable to lease (Note 14 ). The lease agreements have varying expirations, with last due to expire in December 2058. The amounts are adjusted annually for inflation rates, as measured by the General Market Price Index ( Índice Geral de Preços – Mercado Índice Nacional de Preços ao Consumidor Amplo The Company does not face a significant liquidity risk with regard to its lease liabilities. Lease liabilities are monitored within the Company's treasury function. In addition to the payment and appropriation of interest and exchange variation highlighted in the previous tables, the following impacts on income during the year ended December 31, 2020 were recorded for other lease agreements that were not included in the measurement of lease liabilities: December 31, 2020 December 31, 2019 Variable lease payments not included in the measurement of lease liabilities 24,045 10,691 Expenses relating to short-term leases 34,101 37,143 Expenses relating to leases of low-value assets excluding short-term leases of low-value assets 1,547 348 59,693 48,182 7.7 Trade payables Accounting policy The carrying amounts of trade payables are the same as their fair values, due to their short-term nature. Trade payables are generally paid within 30 December 31, 2020 December 31, 2019 Materials and service suppliers 1,675,553 1,356,978 Natural gas and transportation suppliers 780,141 815,798 Electricity and transportation suppliers 141,418 — Fuels and lubricants suppliers 727 370 Other 32,215 17,118 2,630,054 2,190,264 7.8 Preferred shareholders payable in subsidiaries Accounting policy Financial liabilities are measured at amortized cost, taking into account the outstanding balance of the initial contribution, increased by interest on the principal, less dividends paid. On June 27, 2014, the subsidiary Cosan S.A. performed a corporate reorganization and created the subsidiary Cosan Investimentos e Participações S.A. (“CIP”), to optimize its capital structure and improve its debt profile. A contribution of R$ 2,000,000 two 50 The shareholders’ agreement has exit clauses, in which the Company may repurchase these interests and for the reason was recorded a financial liability and amount of R$ 2,000,000 The Company will be required to pay investors if they exercise the option to sell the investment in 2021 Below the movement of the obligation with preferred shareholders: At January 1, 2019 1,097,490 Dividend distribution ( 535,832 Monetary adjustment 49,879 At December 31, 2019 611,537 Dividend distribution ( 240,786 ) Monetary adjustment 16,293 At December 31, 2020 387,044 7.9 Derivative financial instruments Accounting policy Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured to their fair value at the end of each reporting period. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. The Company designates certain derivatives as either: hedges of the fair value of recognized assets or liabilities or a firm commitment (fair value hedges); or hedges of a particular risk associated with the cash flows of recognized assets and liabilities and highly probable forecast transactions (cash flow hedges). At inception of the hedge relationship, the Company documents the economic relationship between hedging instruments and hedged items including whether changes in the cash flows of the hedging instruments are expected to offset changes in the cash flows of hedged items. The Company documents its risk management objective and strategy for undertaking its hedge transactions. Changes in the fair value of any derivative instrument that does not qualify for hedge accounting are recognized immediately in profit or loss and are included in other gains / (losses). The fair values of derivative financial instruments designated in hedge relationships are disclosed below. The full fair value of a hedging derivative is classified as a non-current asset or liability when the remaining maturity of the hedged item is more than 12 12 The Company makes an assessment, both at the inception of the hedge relationship as well as on an ongoing basis, of whether the hedging instruments are expected to be highly effective in offsetting the changes in the fair value or cash flows of the respective hedged items attributable to the hedged risk, and whether the actual results of each hedge are within a range of 60 140 The Company has a portfolio of energy contracts (purchase and sale) aimed at meeting energy supply and demand requirements. There is also a portfolio of contracts that comprises forward positions, generally of short term. For this portfolio there is no purchase commitment with a sale contract. The Company has flexibility to manage the contracts in this portfolio in order to obtain gains due to variations in market prices, considering its risk policies and limits. Contracts in this portfolio may be settled in cash or in another financial instrument (for example: by entering into an offset contract with a counterparty; or “undoing its position” of the contract before its exercise or expiration; or shortly after the purchase, making a sale in order to generate profit from short-term fluctuations in the price or gain with resale margin. These energy purchase and sale transactions are carried out in an active market and meet the definition of financial instruments due to the fact that they are settled in cash and are readily convertible into money. These contracts are accounted for as derivatives and are recognized in the statement of financial position at fair value at the date a derivative contract is entered into and are remeasured to fair value at the end of the reporting period. Financial assets and financial liabilities are offset and the net amount presented in the statement of financial position when the Company currently has a legally enforceable right to set off the recognized amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. The legally enforceable rights must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the company or counterparty. The fair value of these derivatives is estimated partly based on price quotations published in active markets, to the extent that such observable market data exist, and partly through the use of valuation techniques which consider: (i) prices established in recent purchase and sale transactions, (ii) risk margin in supply, and (iii) forecast market price in the availability period. Whenever the fair value on initial recognition for these contracts differs from the transaction price, a fair vale gain or fair value loss is recognized at the end of |
Other tax receivables
Other tax receivables | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Other tax receivables | 8 Other tax receivables Accounting policy Tax assets are measured at cost and primarily include (i) tax effects which are recognized when the asset is sold to a third party or recovered through amortization of the asset’s remaining economic life; and (ii) income tax receivables that are expected to be recovered either as refunds from taxing authorities or as a reduction to future tax obligations. December 31, 2020 December 31, 2019 COFINS - Revenue tax (i) 625,174 706,165 ICMS - State VAT 754,749 602,127 ICMS CIAP - State VAT 124,006 141,514 PIS - Revenue tax (i) 136,765 150,099 Credit installment 42,138 41,516 Other 60,206 35,591 1,743,038 1,677,012 Current 785,367 950,246 Non-current 957,671 726,766 (i) In 2020, R$ 75,699 (R$ 28,141 as other income and R$ 43,859 as financial income) was accounted in the Cosan S.A., referring to the credit based on final court decision to exclude the ICMS on PIS and COFINS calculation basis. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2020 | |
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Inventories | 9 Inventories Accounting policy Inventories are stated at the lower of cost and net realizable value (it is the estimated selling price in the normal course of business, less estimated completion costs and estimated costs necessary to make the sale). The cost of finished and under construction products comprises direct materials, direct labor and an adequate proportion of variable and fixed overheads, the latter being allocated based on normal operational capacity. Costs are assigned to individual inventory items based on weighted average costs. The provision for obsolete inventories is made for the risks associated with the realization and sale of inventories due to obsolescence and measured at the net realizable value or the cost, whichever is less. December 31, 2020 December 31, 2019 Finished goods 560,028 457,447 Spare parts and accessories 219,831 236,347 Raw material 118,319 55,347 Warehouse and other 30,279 31,287 Fuels and lubricants 6,807 6,894 935,264 787,322 |
Investments in associates
Investments in associates | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Investments in associates | 10. Investments in associates 10.1 Investments in subsidiaries and associates Accounting policy a) Subsidiaries Subsidiaries are all entities over which the Company has control. Subsidiaries are fully consolidated from the date of acquisition of control and continue to be consolidated until the date that control ceases to exist. They are deconsolidated from the date that control ceases. The financial statements of subsidiaries are prepared for the same reporting period as that of the parent company, using consistent accounting policies. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with the Company’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Company are eliminated in full on consolidation. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Company’s interest in the investee. Unrealized losses are similarly eliminated, but only to the extent that there is no evidence of impairment. b) Associates Associates are those entities in which the Company has significant influence, but not control or joint control, over the financial and operating policies. Investments in associates are accounted for under the equity method and are recognized initially at cost. The cost of the investment includes transaction costs. Under the equity method of accounting, the share attributable to the Company of the profit or loss for the period of such investments is accounted for in the statement of profit or loss, in “Equity in investees.” Unrealized gains and losses arising on transactions between the Company and the investees are eliminated based on the percentage of interest held in such investees. The other comprehensive income of subsidiaries, associates and jointly controlled entities is recorded directly in the Company’s shareholders’ equity, in “Other comprehensive income.” Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Company’s interest in the investee. Unrealized losses are similarly eliminated, but only to the extent that there is no evidence of impairment. Cosan’s subsidiaries are listed below: December 31, 2020 December 31, 2019 Directly owned subsidiaries Cosan Logística 73.48 73.49 Cosan S.A. 66.74 64.59 Cosan Limited Partners Brasil Consultoria Ltda. 60.00 60.00 Sinlog Tecnologia em Logística S.A. 64.52 47.62 Interest of Cosan S.A. in its subsidiaries Companhia de Gás de São Paulo – Comgás (i) — 99.15 Compass Gás e Energia 99.01 100.00 Cosan Lubes Investments Limited 70.00 70.00 Cosan Cayman II Limited 100.00 100.00 Cosan Global Limited 100.00 100.00 Cosan Investimentos e Participações S.A. 100.00 100.00 Cosan Luxembourg S.A. (ii) 100.00 100.00 Cosan Overseas Limited 100.00 100.00 Pasadena Empreendimentos e Participações S.A. 100.00 100.00 Payly Soluções de Pagamentos S.A. 75.00 75.00 Rumo S.A. 2.16 1.71 Cosan Logística S.A. 0.10 0.10 Interest of Cosan Lubes Investments Limited in its subsidiaries Moove Lubricants Limited 100.00 100.00 Cosan Cinco S.A. 100.00 100.00 Airport Energy Limited 100.00 100.00 Airport Energy Services Limited 100.00 100.00 Wessesx Petroleum Limited 100.00 100.00 Stanbridge Group Limited 100.00 100.00 Cosan Lubricants España S.L.U. 100.00 100.00 TTA – SAS Techniques et Technologie Appliquées 75.00 75.00 Cosan Lubrificantes S.R.L. 98.00 98.00 LubrigrupoII– Comércio e Distribuição de Lubrificantes S.A. 100.00 100.00 December 31, 2020 December 31, 2020 Comma Oil & Chemicals Marketing SRL 100.00 100.00 Comma Otomotiv Yag Ve Kimyasallari 100.00 100.00 Pazarlama Limited Sirketi 100.00 100.00 Comma Oil & Chemicals Marketing B.V. 100.00 100.00 Commercial Lubricants Moove Corp 100.00 100.00 Cosan Lubrificantes e Especialidades S.A. 100.00 100.00 Cosan US, Inc. 100.00 100.00 Ilha Terminal Distribuição de Produtos Derivados de Petróleo Ltda. 100.00 100.00 Zip Lube S.A. 100.00 100.00 Cosan Paraguay S.A. 100.00 100.00 Interest of Cosan Logística S.A. in its subsidiaries Rumo S.A. 28.19 28.47 Rumo Malha Oeste S.A. 28.47 28.47 Rumo Malha Paulista S.A. 28.47 28.47 Rumo Malha Sul S.A. 28.47 28.47 Rumo Malha Norte S.A. 28.40 28.40 Rumo Malha Central S.A. 28.47 28.47 Elevações Portuárias S.A. 28.47 28.47 Logispot Armazéns Gerais S.A. 14.52 14.52 Rumo Luxembourg S.à r.l. 28.47 28.47 Rumo Intermodal S.A. 28.47 28.47 Boswells S.A. 28.47 28.47 ALL Argentina S.A. 28.47 28.47 Paranaguá S.A. 28.47 28.47 ALL Armazéns Gerais Ltda. 28.47 28.47 Portofer Ltda. 28.47 28.47 ALL Mesopotâmica S.A. 20.09 20.09 ALL Central S.A. 20.94 20.94 Servicios de Inversión Logística Integrales S.A. 28.47 28.47 Brado Logística e Participações S.A. 17.71 17.71 Brado Logística S.A. 17.71 17.71 (i) On January 14, 2020, S.A. contributed the totality of shares held by the Company to the share capital of subsidiary Compass e (See Note 2 (ii) Management has concluded that there are no material uncertainties that cast doubt on the continuity of the subsidiaries. The subsidiaries have the financial support of the Company. Set out below are the associates as of December 31, 2020, which are material to the Company: Shares Shares held Cosan Economic Radar II Propriedades Agrícolas S.A. 81,440,222 24,920,708 51.00 3.00 Radar Propriedades Agrícolas S.A. 1,735,703 531,125 51.00 2.51 Tellus Brasil Participações S.A. 120,920,492 61,359,624 50.74 5.00 Janus Brasil Participações S.A. 136,928,272 69,361,678 50.77 5.00 Interest in Other At January Dividends Capital Other At December 31, 2020 Tellus Brasil Participações S.A. 102,342 6,883 — ( 3,560 ) — — 105,665 Janus Brasil Participações S.A. 126,087 7,591 — ( 3,909 ) 1,132 — 130,901 Radar Propriedades Agrícolas S.A. 59,860 3,512 232 ( 1,233 ) — — 62,372 Radar II Propriedades Agrícolas S.A. 31,975 1,747 45 ( 563 ) — — 33,205 Other 57,443 9,068 ( 37 ) ( 8,187 ) 10 ( 6,587 ) 51,708 377,707 28,801 240 ( 17,452 ) 1,142 ( 6,587 ) 383,851 At January Interest in Sales or Other comprehensive income Dividends Capital Other At December 31, 2019 Tellus Brasil Participações S.A. 101,109 4,667 — — ( 3,434 ) — — 102,342 Novvi Limited Liability Company 13,449 168 — ( 136 ) — — ( 13,481 ) — Janus Brasil Participações S.A. 93,821 5,213 — — ( 4,060 ) 31,113 — 126,087 Radar Propriedades Agrícolas S.A. 59,584 1,475 — 142 ( 1,341 ) — — 59,860 Radar II Propriedades Agrícolas S.A. 32,236 1,528 — 27 ( 1,816 ) — — 31,975 Usina Santa Luiza S.A. 29,209 ( 29,209 ) — — — — — — Other 49,111 17,389 5,655 — ( 8,236 ) — ( 6,476 ) 57,443 378,519 1,231 5,655 33 ( 18,887 ) 31,113 ( 19,957 ) 377,707 Financial information of associates: December 31, 2020 December 31, 2019 Assets Liabilities Shareholders ’ Profit in Assets Liabilities Shareholders ’ Profit in Radar Propriedades Agrícolas S.A. 2,384,480 ( 334,962 ) 2,049,518 139,781 2,259,440 ( 309,910 ) 1,949,490 58,709 Radar II Propriedades Agrícolas S.A. 863,911 ( 947 ) 862,964 58,239 821,183 ( 19 ) 821,164 50,920 Tellus Brasil Participações Ltda. 2,235,872 ( 169,779 ) 2,066,093 134,441 2,137,559 ( 136,375 ) 2,001,184 91,431 Janus Brasil Participações S.A. 2,764,440 ( 197,906 ) 2,566,534 143,432 2,632,321 ( 160,167 ) 2,472,154 97,652 10.2 Non-controlling interests in subsidiaries Accounting policy Transactions with non-controlling interests that do not result in loss of control are accounted for as equity transactions – that is, as transactions with the owners in their capacity as owners. Set out below is summarized financial information for each subsidiary that has non-controlling interests that are material to the group. The amounts disclosed for each subsidiary are before inter-company elimination. Shares issued by Shares held by Non- Compass Gás e Energia 628,487,690 6,222,650 0.99 Comgás 132,520,587 1,124,363 0.85 Logispot Armazéns Gerais S.A. 2,040,816 1,000,000 49.00 Rumo 1,559,015,898 1,115,164,072 71.53 Brado Logística e Participações S.A. 12,962,963 4,897,407 37.78 Rumo Malha Norte S.A. 1,189,412,363 3,144,187 0.26 CLI 34,963,764 10,489,129 30.00 Cosan S.A. 394,210,000 132,924,458 33.67 Cosan Logística 463,224,241 122,813,171 26.51 Payly Soluções de Pagamentos S.A. 44,861,170 11,215,293 25.00 Sinlog Tecnologia em Logística S.A. 21,000 10,000 47.62 TTA – SAS Techniques et Technologie Appliquées 10,521 2,630 25.00 Cosan Limited Partners Brasil Consultoria Ltda. 10,000 4,000 40.00 The following table summarizes the information relating to each of the Company’s subsidiaries that has material non-controlling interests, before any intra-group elimination. At 2020 Interest in Sales or Other comprehensive income Dividends Capital Other At 2020 Cosan S.A. 3,604,875 336,885 ( 407,177 ) 28,573 ( 68,120 ) — ( 2,207 ) 3,492,829 Cosan Logística 630,185 12,966 14,006 1,006 ( 5 ) — — 658,158 Comgás 24,569 9,200 — 484 ( 9,535 ) — 11 24,729 Compass Gás e Energia — 7,848 30,431 552 ( 5,986 ) — 35 32,880 CLI 470,498 44,816 — 66,970 — — — 582,284 Rumo 6,058,973 212,463 4,424,537 15,786 ( 2,742 ) — — 10,709,017 Logispot Armazéns Gerais S.A. 34,218 1,879 — — ( 584 ) — — 35,513 Other 15,298 2,755 — 6,160 ( 9,566 ) 6,666 2,061 23,374 10,838,616 628,812 4,061,797 119,531 ( 96,538 ) 6,666 ( 100 ) 15,558,784 At 2019 Interest in earnings of subsidiaries Sales or Other comprehensive income Dividends IFRS 16 Capital Other At 2019 Cosan S.A. 3,765,964 988,382 ( 849,033 ) ( 94,672 ) ( 203,977 ) — — ( 1,789 ) 3,604,875 Cosan Logística 630,333 59,016 ( 21,187 ) — — ( 37,370 ) — ( 607 ) 630,185 Comgás 987,358 40,455 ( 972,988 ) ( 560 ) ( 16,969 ) — ( 12,727 ) — 24,569 CLI — 18,715 451,267 516 — — — — 470,498 Rumo 5,929,151 463,594 — 1,930 — ( 340,050 ) — 4,348 6,058,973 Logispot Armazéns Gerais S.A. 34,656 172 — — ( 610 ) — — — 34,218 Other 7,491 6,698 4,567 866 ( 1,859 ) — 789 ( 3,254 15,298 11,354,953 1,577,032 ( 1,387,374 ) ( 91,920 ) ( 223,415 ) ( 377,420 ) ( 11,938 ) ( 1,302 ) 10,838,616 Summarized statement of financial position: Compass Gás e Energia (i) Comgás Cosan S.A. Sinlog Tecnologia em Logística S.A. Rumo December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Current Assets 402,007 4 4,225,788 2,792,056 3,443,811 5,704,933 5,023 3,616 1,996,914 1,302,485 Liabilities ( 25,404 ) ( 2,614 ) ( 3,610,144 ) ( 2,807,891 ) ( 774,742 ) ( 2,437,233 ) ( 3,340 ) ( 479 ) ( 841,519 ) ( 1,105,899 ) Net current assets 376,603 ( 2,610 ) 615,644 ( 15,835 ) 2,669,069 3,267,700 1,683 3,137 1,155,395 196,586 Non-current Assets 2,944,593 989 6,391,096 9,246,044 16,998,133 15,107,843 14,398 3,081 19,624,672 12,271,883 Liabilities — — ( 6,416,687 ) ( 6,343,690 ) ( 8,819,535 ) ( 7,821,809 ) ( 242 ) — ( 5,796,462 ) ( 4,124,193 ) Net non-current assets 2,944,593 989 ( 25,591 ) 2,902,354 8,178,598 7,286,034 14,156 3,081 13,828,210 8,147,690 Equity 3,321,196 ( 1,621 ) 590,053 2,886,519 10,847,667 10,553,734 15,839 6,218 14,983,605 8,344,276 Parent Company information. Summarized statement of profit or loss and other comprehensive income: Compass Gás e Energia (i) Comgás Cosan S.A. December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 Net sales — — — 8,317,691 9,514,222 6,840,011 — — — Profit before taxes 920,426 ( 2,614 ) — 1,719,877 1,993,963 1,799,963 674,465 2,548,401 1,190,893 Income tax expenses 10,839 889 ( 1 ) ( 569,264 ) ( 626,784 ) ( 540,995 ) 177,394 ( 134,017 ) ( 10,342 ) Profit (loss) for the year 931,265 ( 1,725 ) ( 1 ) 1,150,613 1,367,179 1,258,968 851,859 2,414,384 1,180,551 Other comprehensive income (loss) — — — — — ( 32,300 ) — ( 253,507 ) ( 40,348 ) Total comprehensive income 931,265 ( 1,725 ) ( 1 ) 1,150,613 1,367,179 1,226,668 851,859 2,160,877 1,140,203 Comprehensive income attributable to non-controlling interests 9,220 — — 9,762 10,967 243,835 286,821 765,167 606,490 Dividends paid 600,000 — — 1,135,669 2,010,101 756,767 574,140 389,256 446,295 (i) Parent Company information. Sinlog Tecnologia em Logística S.A. Rumo December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 Net sales 776 95 — 950,269 596,415 645,088 Profit before taxes ( 9,378 ) ( 1,207 ) — 349,300 779,228 285,887 Income tax expenses — — — ( 52,137 ) ( 991 ) ( 21,530 ) Profit (loss) for the year ( 9,378 ) ( 1,207 ) — 297,163 778,237 264,357 Other comprehensive income (loss) — ( 390 ) — — 2,716 11,182 Total comprehensive income ( 9,378 ) ( 1,597 ) — 297,163 780,953 275,539 Comprehensive income attributable to non-controlling interests ( 4,466 ) 2,298 — 212,561 558,616 192,368 Dividends paid — — — — 4,233 3,346 Summarized statements of cash flows: Compass Gás e Energia (i) Comgás Cosan S.A. December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 Net cash (used in) from operating activities ( 19,028 ) — — 2,096,546 2,512,303 1,573,171 ( 489,406 ) 122,639 1,114,880 Net cash from (used in) investing activities 776,872 — — ( 1,768,298 ) 202,037 ( 1,121,605 ) 653,145 3,500,958 1,097,236 Net cash (used in) from financing activities ( 525,030 ) — — 198,890 ( 2,233,548 ) ( 1,576,470 ) ( 2,505,760 ) ( 1,060,967 ) ( 1,428,044 ) Net increase (decrease) in cash and cash equivalents 232,814 — — 527,138 480,792 ( 1,124,904 ) ( 2,342,021 ) 2,562,630 784,072 Cash and cash equivalents at beginning of year 5 5 5 1,083,410 602,618 1,727,522 3,490,707 928,077 144,005 Cash and cash equivalents at end of year 232,819 5 5 1,610,548 1,083,410 602,618 1,149,267 3,490,707 928,077 (i) Parent Company information. Sinlog Tecnologia em Logística S.A. Rumo December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 Net cash (used in) from operating activities ( 6,329 ) ( 1,384 ) — 463,170 197,313 166,085 Net cash from (used in) investing activities ( 2,942 ) ( 106 ) — ( 6,632,353 ) ( 929,861 ) 32,164 Net cash (used in) from financing activities 10,612 5,000 — 7,037,144 1,432,659 ( 198,584 ) Net increase (decrease) in cash and cash equivalents 1,341 3,510 — 867,961 700,111 ( 335 ) Cash and cash equivalents at beginning of year 3,510 — — 700,706 595 930 Cash and cash equivalents at end of year 4,851 3,510 — 1,568,667 700,706 595 10.3 Acquisition of subsidiaries Accounting policy Business combinations are accounted for using the acquisition method when the control is transferred to the Company. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired and liabilities assumed. Any goodwill that arises is tested annually for impairment. Any gain on a bargain purchase is recognized in profit or loss immediately. Transaction costs are expensed as incurred, except if related to the issue of debt or equity securities. The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognized in profit or loss for the year. Any contingent consideration is measured at fair value at the date of acquisition. If the contingent consideration is classified as equity instrument, then it is not remeasured and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes in the fair value of the contingent consideration is recognized in profit or loss for the year. If share-based payment awards (replacement awards) are required to be exchanged for awards held by the acquiree’s employees (acquiree’s awards), then all or a portion of the amount of the acquirer’s replacement awards is included in measuring the consideration transferred in the business combination. This determination is based on the market-based measure of the replacement awards compared with the market-based measure of the acquiree’s awards and the extent to which the replacement awards relate to pre-combination service. For convenience, the Company may designate the acquisition date at the end (or beginning) of a month, when the acquisition is concluded during the month. On January 30, 2020, the Company completed the acquisition of 100 95,000 Name of the acquiree Description of the operation Compass Comercializadora de Energia Ltda. Natural gas and electricity trading Compass Geração Ltda. Natural gas and electricity trading Compass Energia Ltda. No operation Black River Participações Ltda. No operation Accurate and reliable estimates of the purchase price were made to determine the amount of the goodwill paid on the transaction. Goodwill is the difference between the value of the net assets acquired and the price paid for the shares. The Company, through its independent consultants, assessed whether the fair value of all assets and liabilities in the opening statement of financial position is different from the stated carrying amount. The appraised assets and liabilities include property, plant and equipment items, customer portfolios, trademarks and, possibly, also long-term borrowings. No material differences between the fair value and the carrying amount were identified, and the net price paid was fully allocated to the goodwill. The balances of the acquired entities comprise basically assets and liabilities measured at fair value and, therefore, no adjustments to fair value and accounting policies were made. The fair value of the assets and liabilities acquired is as follows: Compass Compass Compass Total Cash and cash equivalents 4,539 177 37 4,753 Trade receivables 12,384 149,163 — 161,547 Other tax receivable 134 89 31 254 Derivative financial instruments 1,377 — — 1,377 Other current assets 24 28 — 52 Property, plant and equipment 69 — — 69 Trade payables ( 13,585 ) ( 83,669 ) — ( 97,254 ) Other taxes payable — ( 162 ) — ( 162 ) Other liabilities ( 97 — — ( 97 ) Other financial liabilities — ( 48,007 ) — ( 48,007 ) Dividends payable — ( 508 ) — ( 508 ) Payables to related parties — ( 17,063 ) — ( 17,063 ) Deferred tax liabilities ( 468 ) — — ( 468 ) Total identifiable assets, net 4,377 48 68 4,493 The fair value of goodwill at the acquisition date consisted of: Consideration transferred (i) 99,385 Total net assets acquired and liabilities assumed at fair value(-) 4,493 Goodwill 94,892 (i) On July 17, 2020, the Company made an additional payment for the acquisition of Compass Trading in the amount of R $ 4,385 , as provided for in the agreement. Information obtained on facts and circumstances existing at the acquisition date may result in adjustments in the goodwill allocation. The goodwill of R$ 94,892 Nature Valuation methodology Fair value Useful life Goodwill Represent the portion of the purchase price that is higher than the sum of the net fair value of all of the assets purchased in the acquisition and the liabilities assumed in the process. Discounted cash flow 94,892 Indefinite Had the subsidiaries acquired been consolidated since January 1, 2020, the result for the year ended December 31, 2020 would present a net sale of R$ 9,244,777 934,817 On November 30, 2020, the subsidiary Compass Comercializadora merged into Compass Comercialização, with Compass Comercialização being the surviving entity. |
Investments in joint ventures
Investments in joint ventures | 12 Months Ended |
Dec. 31, 2020 | |
Investments accounted for using equity method [abstract] | |
Investments in joint ventures | 11. Investments in joint ventures Accounting policy The Company entered into an agreement to form two 50 Cosan holds joint-control of Raízen Combustíveis and Raízen Energia by virtue of its 50 The two Changes to investments in joint ventures were as follows: Raízen Combustíveis Raízen Energia Total Shares issued by the joint venture 1,661,418,472 7,243,283,198 Shares held by Cosan 830,709,236 3,621,641,599 Cosan ownership interest 50.00 50.00 At January 1, 2019 3,104,613 4,973,294 8,077,907 Interest in earnings of joint ventures 1,223,557 ( 92,151 ) 1,131,406 Other comprehensive loss ( 4,770 ) ( 192,470 ) ( 197,240 ) Interest on capital ( 63,500 ) — ( 63,500 ) Dividends ( 1,047,299 ) ( 352,314 ) ( 1,399,613 ) At December 31, 2019 3,212,601 4,336,359 7,548,960 Interest in earnings of joint ventures 332,240 250,761 583,001 Other comprehensive income (loss) 376,053 ( 446,001 ) ( 69,948 ) Interest on capital ( 73,388 ) — ( 73,388 ) Dividends — ( 417 ) ( 417 ) At December 31, 2020 3,847,506 4,140,702 7,988,208 The statement of financial position and statement of profit or loss of the joint ventures are disclosed in Note 6 According to the terms of the Joint Venture - Raízen, Cosan is responsible for legal proceedings that existed before the formation of Raízen, net of judicial deposits on April 1, 2011, as well as tax installments under the terms of the tax amnesty and the Refinancing Program, or REFIS, recorded in “Other taxes payable.” In addition, Cosan granted Raízen access to a credit line (stand-by) in the amount of U.S.$ 350,000 |
Property, plant and equipment,
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets | 12. Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets Accounting policy The recoverable amount is determined based on calculations of the value in use, using the discounted cash flow determined by Management based on budgets that take into account the assumptions related to each business, using information available in the market and previous performance. Discounted cash flows were drawn up over a ten five The Company performs annually a review of impairment indicators for intangible assets with defined useful lives, property, plant and equipment and right-of-use assets. Also, an impairment test is undertaken for goodwill and intangible assets with indefinite useful lives. Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. Assumptions used in discounted cash flow projections – estimates of future business performance, cash generation, long term growth ( ten 12.1 Property, plant and equipment Accounting policy Recognition and measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. Subsequent expenditure is capitalized only when it is probable that the future economic benefits associated with the expenditure will flow to the Company. Ongoing repairs and maintenance are expensed as incurred. Items of property, plant and equipment are depreciated from the date they are available for use or, in respect of constructed assets, from the date that the asset is completed and ready for use. Depreciation is calculated on the carrying value of property, plant and equipment less their estimated residual values using the straight-line basis over their estimated useful lives, recognized in profit or loss, unless it is capitalized as part of the cost of another asset. Land is not depreciated. Depreciation methods, such as useful lives and residual values, are reviewed at the end of each year, or when there is a significant change without an expected consumption pattern, such as a relevant incident and technical obsolescence. Any adjustments are recognized as changes in accounting estimates, if appropriate. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets as follows: Buildings and improvements 4 5 Machinery, equipment and facilities 8 11 Airplanes, vessels and vehicles 10 20 Railcars 2.9 6 Locomotives 3.3 8 Permanent easement 3 4 Furniture and fixtures 10 15 Computer equipment 20 Reconciliation of carrying amount: Land, buildings and improvements Machinery, equipment and facilities Railcars and locomotives ( i ) Permanent Construction in progress Other Total Cost At January 1, 2019 1,113,427 1,043,032 5,263,961 6,127,139 1,054,128 400,767 15,002,454 Additions 125 1,986 29,773 1,802 1,979,943 2,437 2,016,066 Disposals ( 3,634 ) ( 21,474 ) ( 105,592 ) — ( 1,362 ) ( 26,010 ) ( 158,072 ) Transfers (ii) 132,461 205,355 812,130 595,381 ( 1,525,318 ) 59,638 279,647 Effect of exchange rate fluctuations 3,903 3,070 — — 1,634 939 9,546 Discontinued operation ( 59,917 ) ( 68,107 ) — — — ( 3,216 ) ( 131,240 ) At December 31, 2019 1,186,365 1,163,862 6,000,272 6,724,322 1,509,025 434,555 17,018,401 Additions 125 2,528 17,900 1,193 3,303,937 1,113 3,326,796 Disposals ( 576 ) ( 2,113 ) ( 94,689 ) — ( 506 ) ( 24,293 ) ( 122,177 ) Transfers (ii) 370,302 261,705 796,982 645,611 ( 2,008,901 ) 79,088 144,787 Effect of exchange rate fluctuations 21,028 31,252 — — 619 17,593 70,492 At December 31, 2020 1,577,244 1,457,234 6,720,465 7,371,126 2,804,174 508,056 20,438,299 Depreciation At January 1, 2019 ( 300,711 ) ( 440,677 ) ( 1,280,966 ) ( 1,406,964 ) ( 10,842 ) ( 6,067 ) ( 3,446,227 ) Additions ( 72,329 ) ( 135,267 ) ( 632,170 ) ( 611,575 ) — ( 28,758 ) ( 1,480,099 ) Disposals 131 20,287 104,872 6 — 21,383 146,679 Transfers (ii) 3,546 ( 2,884 ) ( 106,525 ) ( 2,234 ) 3,972 ( 18,897 ) ( 123,022 ) Effect of exchange rate fluctuations ( 549 ) ( 672 ) — — — ( 666 ) ( 1,887 ) Discontinued operation 9,478 27,194 — — — 2,619 39,291 At December 31, 2019 ( 360,434 ) ( 532,019 ) ( 1,914,789 ) ( 2,020,767 ) ( 6,870 ) ( 30,386 ) ( 4,865,265 ) Additions ( 60,907 ) ( 138,579 ) ( 566,259 ) ( 517,033 ) ( 2,048 ) ( 34,309 ) ( 1,319,135 ) Disposals 7 1,188 90,668 — — 20,654 112,517 Transfers (ii) ( 75,174 ) ( 38,107 ) ( 59,353 ) 67,841 2,795 ( 19,419 ) ( 121,417 ) Impairment ( 2,811 ) ( 8,898 ) ( 31,405 ) ( 80,340 ) ( 7,256 ) ( 12,308 ) ( 143,018 ) Effect of exchange rate fluctuations ( 8,054 ) ( 15,997 ) — — — ( 9,424 ) ( 33,475 ) At December 31, 2020 ( 507,373 ) ( 732,412 ) ( 2,481,138 ) ( 2,550,299 ) ( 13,379 ) ( 85,192 ) ( 6,369,793 ) At December 31, 2019 825,931 631,843 4,085,483 4,703,555 1,502,155 404,169 12,153,136 At December 31, 2020 1,069,871 724,822 4,239,327 4,820,827 2,790,795 422,864 14,068,506 (i) On December 31, 20 20 201 9 745,203 7 5 (ii) They are substantially transferring from property, plant and equipment under construction as a result of the capitalization of said assets. Capitalization of borrowing costs Capitalized borrowing costs for the year ended December 31, 2020, R$ 34,107 2,506 12.2 Intangible assets and goodwill Accounting policy a) G oodwill Goodwill is initially recognized based on the accounting policy for business combinations. Goodwill is measured at cost less accumulated impairment losses. Goodwill acquired in a business combination is allocated to the Company’s cash-generating units (“CGU”), or groups of CGUs, that are expected to benefit from the synergies of the combination. b) Customer relationships Costs incurred on development of gas systems for new customers (including pipelines, valves, and general equipment) are recognized as intangible assets and amortized over the contract period. c) Comgás’s concession rights Comgás has a public concession agreement for a natural gas distribution service in which the Granting Authority controls what services will be provided and the price, as well it holds a significant participation in the infrastructure at the end of the concession. This concession agreement represents the right to charge users for gas supply during the term of the agreement. Accordingly, the subsidiary Comgás recognizes this right as an intangible asset. Comgás is subject to regulation, control and supervision of ARSESP. ARSESP establishes the maximum values of Comgás’s rates and regulates and supervises its business. Pursuant to Comgás’s concession agreement, every five Such margins are adjusted annually by the IGP-M minus the efficiency factor determined for each tariff cycle by ARSESP. The intangible asset comprises: (i) the concession right recognized upon the business combination of Comgás, which is being amortized over the concession period on a straight line basis, considering the extension of the distribution services for another 20 The amortization of intangible assets reflects the pattern expected for the utilization of the future economic benefits by the Company, which corresponds to the useful lives of the assets comprising the infrastructure according to the ARSESP provisions. The amortization of the intangible assets is discontinued when the related asset is fully used or written off, and no longer is included in the calculation basis of the tariff for the rendering of the concession services, whichever occurs first. e) Rumo’s concession rights Rumo’s concession rights generated in the business combination of Rumo Malha Norte S.A. (“Rumo Malha Norte”) was fully allocated to the Rumo Malha Norte concession and amortized on a straight-line basis. e) Subsequent expenditure Subsequent expenditures are capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditures are recognized in profit or loss as incurred. f) Impairment The recoverable amount is determined based on calculations of the value in use, using the discounted cash flow determined by Management based on budgets that take into account the assumptions related to each business, using information available in the market and previous performance. Discounted cash flows were drawn up over a ten five The Company performs annually a review of impairment indicators for intangible assets with defined useful lives, property, plant and equipment items and contract asset. Also, an impairment test is undertaken for goodwill and intangible assets with indefinite useful lives. Impairment exists when the carrying amount of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. Assumptions used in discounted cash flow projections - estimates of future business performance, cash generation, long term growth ( ten Goodwill Concession Operating Trademarks Customer Other Total Cost At January 1, 2019 883,234 17,631,883 435,624 37,877 742,863 370,189 20,101,670 Additions 2,795 12,031 — — 85,438 13,254 113,518 Disposals — ( 67,259 ) — — ( 215 ) ( 8 ) ( 67,482 ) Transfers — 447,863 171 — ( 704 ) 6,263 453,593 Effect of exchange rate fluctuations 18,948 — — 8,293 1,709 ( 1,602 ) 27,348 Discontinued operation — — — — — ( 818 ) ( 818 ) At December 31, 2019 904,977 18,024,518 435,795 46,170 829,091 387,278 20,627,829 Additions 8,167 5,227 — — 111,656 12,149 137,199 Business combination (Note 10.3 94,892 — — — — — 94,892 Disposals — ( 48,442 ) — — ( 131 ) ( 12,474 ) ( 61,047 ) Transfers — 695,140 — ( 5,504 ) 408,470 ( 31,573 ) 1,066,533 Exchange variation 80,684 — — 13,541 75,861 10,919 181,005 At December 31, 2020 1,088,720 18,676,443 435,795 54,207 1,424,947 366,299 22,046,411 Amortization: At January 1, 2019 — ( 2,383,823 ) ( 224,356 ) — ( 314,619 ) ( 206,337 ) ( 3,129,135 ) Additions — ( 515,615 ) ( 11,766 ) ( 9,201 ) ( 95,034 ) ( 33,813 ) ( 665,429 ) Disposals — 14,747 — — 162 8 14,917 Transfers — ( 8 ) — — ( 3,626 ) ( 2,379 ) ( 6,013 ) Effect of exchange rate fluctuations — — — — 2,668 ( 1,761 ) 907 Discontinued operation — — — — — 583 583 At December 31, 2019 — ( 2,884,699 ) ( 236,122 ) ( 9,201 ) ( 410,449 ) ( 243,699 ) ( 3,784,170 ) Additions — ( 490,100 ) ( 11,774 ) — ( 86,162 ) ( 88,988 ) ( 677,024 ) Disposals — 17,030 — — 111 4,817 21,958 Transfers — ( 10 ) — 9,201 ( 390,554 ) 105,459 ( 275,904 ) Effect of exchange rate fluctuations — — — — ( 17,978 ) ( 4,854 ) ( 22,832 ) At December 31, 2020 — ( 3,357,779 ) ( 247,896 ) — ( 905,032 ) ( 227,265 ) ( 4,737,972 ) At December 31, 2019 904,977 15,139,819 199,673 36,969 418,642 143,579 16,843,659 At December 31, 2020 1,088,720 15,318,664 187,899 54,207 519,915 139,034 17,308,439 Capitalization of borrowing costs Capitalized borrowing costs for the year ended December 3 1 202 0 36,522 7.40 19,877 7.29 Amortization methods and useful lives Intangible assets (excluding goodwill) Annual rate of December 31, 2020 December 31, 2019 Comgás ( i ) Concession term 8,425,014 8,129,822 Rumo (ii) Concession term 6,893,650 7,009,997 15,318,664 15,139,819 Operating license for port terminal 3.70 187,899 199,673 Trademarks: Comma Undefined 54,207 36,969 Customer relationships: Comgás 20.00 210,038 161,786 Moove 6.00 309,877 256,856 519,915 418,642 Other Software license 20.00 86,090 81,669 Other 52,944 61,910 139,034 143,579 Total 16,219,719 15,938,682 (i) Refers to the intangible asset for the public gas distribution service concession, which represents the right to charge users for the supply of gas, comprised of: (i) the concession rights recognized in the business combination and (ii) concession assets. (ii) Refers to the railroad concession right agreement of Rumo. Impairment testing of cash-generating units (“CGU”) goodwill Cosan Logística and its subsidiaries In the period ended on December 31, 2020, the Company identified impairment indicators for the cash-generating unit represented by the Rumo Malha Oeste S.A. (“Rumo Malha Oeste”) concession: i) the Rumo Malha Oeste recorded a significant reduction in the volume transported due to operational problems on the railroad caused by heavy rains in the first quarter, causing management to seek alternatives to perform certain contracted volumes, volumes that supported the unit's cash flow projection cash-generating until then; ii) Management's decision to file the request for re-bidding generates uncertainty about the period in which Rumo Malha Oeste will be the operator since it depends on the progress of the process. Therefore, the Company recorded a provision for impairment of R$ 143,987 143,018 966 The Company also assessed the effects of the COVID- 19 2020 The determination of the recoverability of the assets depends on certain key assumptions, as previously described, which are influenced by the market, technological and economic conditions in force at the time that this recovery is tested and, therefore, it is not possible to determine whether new losses due to recovery will occur in the future and, if they occur, whether they would be material. Cosan S.A. and its subsidiaries The main assumptions used mainly consider the expectation of growth of the operations based on the gross domestic product ( Produto interno bruto , or “PIB” The annual impairment test for Moove, made with the following assumptions used (i) EBITDA for the cash-generating unit, within a period of 10 8.75 9 2019 7,377,386 1,647,756 The motivation for using a period of 10 All of these future cash flows were discounted at a rate of 8.75 IPCA 3.3 London interbank offered rate, or “ Libor 2.3 As of December 31, 20 20 no 12.3 Right-of-use assets Accounting policy Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. If the Company is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life. Right-of-use assets are measured at cost comprising the following: the amount of the initial measurement of lease liability; any lease payments made at or before the commencement date less any lease incentives received; any initial direct costs; and restoration costs. Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. If the Company is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life. Land, buildings and improvements Machinery, equipment and facilities Freight cars and locomotives Software Vehicles Port and rail infrastructure Total Cost: At January 1, 2019 230,615 11,168 1,286,671 66,931 13,085 842,783 2,451,253 Additions 7,073 3,045 1,004 — 732 2,904,778 2,916,632 Contractual adjustments 9,883 ( 956 ) 712 — 442 54,828 64,909 Transfers 327 ( 2,539 ) ( 249,746 ) — — 1,565 ( 250,393 ) Currency translation adjustments ( 468 ) — — — — — ( 468 ) At December 31, 2019 247,430 10,718 1,038,641 66,931 14,259 3,803,954 5,181,933 Additions 124,014 18,714 864 15,438 — 3,406,560 3,565,590 Contractual adjustments 187 10,397 1,783 — ( 334 ) 251,854 263,887 Transfers — — ( 107,963 ) — — — ( 107,963 ) Currency translation adjustments 9,197 ( 707 ) — — — — 8,490 At December 31, 2020 380,828 39,122 933,325 82,369 13,925 7,462,368 8,911,937 Amortization: At January 1, 2019 ( 50,450 ) ( 2,532 ) ( 462,748 ) — — ( 131,541 ) ( 647,271 ) Additions ( 21,282 ) ( 3,074 ) ( 9,018 ) ( 7,594 ) ( 6,459 ) ( 118,915 ) ( 166,342 ) Transfers ( 7,233 ) 2,532 104,694 — 2 — 99,995 At December 31, 2019 ( 78,965 ) ( 3,074 ) ( 367,072 ) ( 7,594 ) ( 6,457 ) ( 250,456 ) ( 713,618 ) Additions ( 34,977 ) ( 9,527 ) ( 53,413 ) ( 4,940 ) ( 6,572 ) ( 230,057 ) ( 339,486 ) Impairment — — — — — ( 966 ) ( 966 ) Transfers — — 59,745 — — — 59,745 Currency translation adjustments ( 1,888 ) 506 — — — — ( 1,382 ) At December 31, 2020 ( 115,830 ) ( 12,095 ) ( 360,740 ) ( 12,534 ) ( 13,029 ) ( 481,479 ) ( 995,707 ) At December 31, 2019 168,465 7,644 671,569 59,337 7,802 3,553,498 4,468,315 At December 31, 2020 264,998 27,027 572,585 69,835 896 6,980,889 7,916,230 12.4 Contract asset Accounting policy Contract assets are measured at acquisition cost, including capitalized borrowing costs. When the assets come into operation, the depreciable values within the concession agreement are transferred to intangible assets. Comgás reassess useful lives, whenever such assessment indicates that amortization period will exceed concession contract term, a portion of the asset is converted into financial asset as it represents an account receivable from the concession authority. Such classification is in accordance with IFRIC 12 At January 1, 2019 227,260 Additions 819,567 Disposals ( 9,691 ) Transfer to concession rights and customer relationships ( 436,595 ) At December 31, 2019 600,541 Additions 888,939 Disposals — Transfer to concession rights and customer relationships ( 793,542 ) At December 31, 2020 695,938 (i) The amount of the transfers also includes a portion of the intangible asset that was reclassified to a financial asset according to the provisions of IFRIC 12 . |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2020 | |
Commitments | |
Commitments | 13. Commitments Considering the current gas supply contracts, Comgás has a total financial commitment in an estimated present value of R$ 8,621,515 The sub-concession contracts to which the Rumo, through its subsidiaries, is a party, often include commitments to execute investments with certain characteristics during the term of the contract. We can highlight: The renewal addendum to the concession of Rumo Malha Paulista, which foresees the execution long with the concession of a set of investment projects to increase capacity and reduce urban conflicts, estimated by the agency at R$ 6,100,000 3,000,000 6 one three 620,050 56 The port elevation concession and lease agreement provide for investments aimed at improving and modernizing the facilities and equipment allocated therein, estimated in the amount of R$ 340,000 270,629 |
Concessions payable
Concessions payable | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Concessions payable | 14. Concessions payable Accounting policy Rumo recognizes lease installments included in disputes with the grantor. The initial registration takes place at the amount of the installment at maturity, by transferring the “Leases” account. Subsequently, the values are corrected by Selic. The concessions right is initially recognized with an intangible at cost (see Note 1 2 2 December 31, 2020 December 31, 2019 Court discussion Rumo Malha Paulista S.A. 101,871 1,870,018 Rumo Malha Oeste S.A. 1,617,764 1,528,238 1,719,635 3,398,256 Railroad concession payable Rumo Malha Paulista S.A. 1,154,919 — Payables Rumo Malha Sul S.A. 84,637 36,621 Rumo Malha Paulista S.A. 24,151 20,003 108,788 56,624 Total 2,983,342 3,454,880 Current 158,705 9,847 Non-current 2,824,637 3,445,033 Court Discussion Rumo Malha Oeste also pleads for the reestablishment of the economic and financial balance, lost due to the cancellation of transportation contracts existing at the time of privatization, configuring changes in the regulatory scenario and conditions established in the Privatization Notice - in addition, the growth forecasts that defined the business value did not materialize. The lawsuit is pending before the Federal Regional Court of the second Region. The amount referring to the Company's overdue installments was guaranteed by the acquisition of public debt securities ( Letras Financeiras do Tesouro Tribunal Regional Federal Management, supported by the opinion of its lawyers, assesses the chances of success as probable, but maintains the record of the liability because it is a contractual obligation not yet withdrawn from the Company, and because the amount is still pending. On July 21, 2020, the Company filed with the ANTT, a request to qualify for a new bidding process to third parties of the object of the Concession Contract signed between Rumo Malha Oeste and the Brazilian government, through the Ministry of Transport (“Re-bidding Process”), according to Federal Law No. 13,448 9,957 Judicial deposits at December 31, 20 20 9 December 31, 2020 December 31, 2019 Rumo Malha Paulista S.A. — 119,806 Rumo Malha Oeste S.A. 22,119 21,703 22,119 141,509 Railroad concession payable As a condition for entering into the renewal amendment for Rumo Malha Paulista, there was a need for the Company to resolve the dispute involving the economic and financial rebalancing of the original contract. To this end, an agreement was signed between Rumo Malha Paulista, Brazilian government and ANTT, in which it was agreed: i) a credit in favor of the Company related to labor liens paid up to 2005 eight The effects of the offsetting of balances were updated up to the registration date and resulted in a reversal of R$ 479,563 348,319 131,243 2005 Leases and grants under IFRS 16 7.6 December 31, 2020 December 31, 2019 Lease and concession in dispute Rumo Malha Sul 600,745 532,496 Rumo Malha Paulista 475,647 377,944 Rumo Malha Oeste 179,568 216,096 Elevações Portuárias 76,925 74,584 Portofer 12,463 13,435 1,345,348 1,214,555 Grants ( i ) Rumo Malha Paulista (renewal) 492,222 — Rumo Malha Central S.A. 491,354 2,728,931 983,576 2,728,931 Total 2,328,924 3,943,486 Current 232,212 402,991 Non-current 2,096,712 3,540,495 (i) On September 15, 2020, Rumo Malha Paulista and Rumo Malha Central paid 70 2,823,777 59 2,276,734 5,100,511 969 2020 968 2020 2 |
Sector financial asset and liab
Sector financial asset and liability | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Sector Financial Asset and Liability [Abstract] | |
Sector financial asset and liability | 15. Sector financial asset and liability Accounting policy Sector financial assets and liabilities aim to offset the economic impacts on profit or loss of subsidiary Comgás, due to the difference between the cost of gas and the tax rates provided for by the administrative rulings issued by ARSESP, and those effectively provided for by the tariff, upon each tariff adjustment/review. These differences between actual cost and cost considered in the tariff adjustments generate a right to the extent that the realized cost is higher than that per the tariff, or an obligation, when the costs are lower than those per the tariff. The differences are considered by ARSESP in the subsequent tariff adjustment, and are included in the Company's tariff adjustment index. On June 10, 2020, ARSESP published Resolution No. 1010 12 In addition, this resolution covered the balance contained in the current account of taxes, which accumulated amounts related to tax credits used by Comgás, but which essentially are part of the tariff composition and must be subsequently transferred in the tariff. With publication of this resolution, subsidiary Comgás understands that there is no longer significant uncertainty hindering recognition of sector financial assets and liabilities as amounts actually receivable or payable, respectively. Accordingly, as from June 10, 2020, it recognizes the sector financial assets and liabilities in its financial statements. The changes in net sector financial asset (liability) for the year ended December 31, 2020 were as follows: Sectorial Sectorial Total January 1, 2020 — — — Cost of gas 201,346 — 201,346 Credits of taxes (i) — ( 565,911 ) ( 565,911 ) Interest 13,458 — 13,458 Other revenue 26,945 — 26,945 December 31, 2020 241,749 ( 565,911 ) ( 324,162 ) Current 241,749 ( 91,912 ) 149,837 Non-current — ( 473,999 ) ( 473,999 ) (i) PIS and COFINS tax credits on certain operations. |
Other taxes payable
Other taxes payable | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Other taxes payable | 16. Other taxes payable Accounting policy The Company is subject to taxes, contributions and municipal, state and federal duties, in its respective jurisdictions. December 31, 2020 December 31, 2019 Tax amnesty and refinancing program 202,378 213,360 ICMS – State VAT 198,708 161,254 COFINS – Revenue tax 61,930 84,953 PIS – Revenue tax 16,578 19,426 INSS – 29,515 10,513 ISS – Service tax 1,108 6,753 IOF – Financial tax 873 309 Other 55,254 21,553 566,344 518,121 Current 417,326 363,051 Non-current 149,018 155,070 The amounts due on non-current liabilities present the following maturity schedule: December 31, 2020 December 31, 2019 13 24 7,254 5,654 25 36 3,143 4,936 37 48 1,478 4,486 49 60 691 3,225 61 72 134,151 136,558 73 84 691 48 85 96 691 48 Thereafter 919 115 149,018 155,070 |
Income tax and social contribut
Income tax and social contribution | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Income tax and social contribution | 17. Income tax and social contribution Accounting policy The income taxes rate is 34 a) Current tax Current tax is the expected tax payable or receivable on the taxable income or loss for the period, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. b) Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes and tax loss. The measurement of deferred tax reflects the way the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to taxes levied by the same tax authority and the same taxable entity. c) In determining the amount of current and deferred tax, the Company considers the impact of uncertain tax positions and whether additional taxes and interest may be due. This assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes the Company to change its judgment regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact tax expense in the period that such a determination is made. d) In assessing the recoverability of deferred taxes, management considers the projections of future taxable income. When it is not probable that part or all the taxes will be realized, the tax asset is reversed. There is no expiration date for the use of tax loss carryforwards and negative bases, but the use of these accumulated losses of previous years is limited to 30 a) Reconciliation of income tax and social contribution expenses December 31, 2020 December 31, 2019 December 31, 2018 Profit before taxes 1,990,961 3,661,948 2,871,897 Income tax and social contribution nominal rate ( 34 ( 676,927 ) ( 1,245,062 ) ( 976,445 ) Adjustments to determine the effective rate Interest in earnings of investees (non-taxable income) 207,940 385,097 337,058 Differences in tax rates on earnings (losses) of overseas companies 19,793 ( 78,026 ) ( 12,423 ) Granted income tax incentive 109,081 178,609 48,541 Share-based payment transactions 9,941 19,986 ( 1,363 ) Interest on shareholders’ equity ( 24,773 ) ( 26,766 ) ( 19,777 ) Non-deductible expenses (donations, gifts, etc.) ( 4,183 ) ( 16,925 ) ( 14,405 ) Tax losses not recorded ( 170,017 ) ( 69,335 ) ( 134,401 ) Goodwill amortization effect 1,271 1,271 1,853 Other 25,207 71,555 10,875 Income tax and social contribution expense - current and deferred ( 502,667 ) ( 779,596 ) ( 760,487 ) Effective rate 25.25 21.29 26.48 b) Deferred income tax assets and liabilities The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities are presented below: December 31, 2020 December 31, 2019 Assets credits of: Income tax losses 2,574,260 2,136,077 Social contribution losses 929,432 779,252 Temporary differences Regulatory assets — 53,875 Share-based payment transactions 19,129 9,879 Allowance for expected credit losses 31,416 26,969 Profit sharing 41,080 63,987 Tax credit losses 83,833 79,928 Interest on preferred shareholders payable in subsidiaries 167,412 89,931 Post-employment benefits 200,461 214,496 Loss allowances for impairment 226,092 203,057 Provision for legal proceedings 288,967 305,473 Miscellaneous expense allowance 366,224 348,212 Review of useful life of property, plant and equipment 399,537 408,581 Foreign exchange - Loans and borrowings (i) 1,962,892 921,811 Other 242,018 112,240 Total 7,532,753 5,753,768 (-) Deferred taxes assets net not recognized ( 2,318,998 ) ( 2,198,164 ) Liabilities credits of: Temporary differences Fair value option to loans 526,001 174,596 Fair value amortization of the property, plant and equipment ( 2,640 ) 27,666 Leases ( 25,460 ) ( 36,347 ) Tax deductible goodwill (ii) ( 839,939 ) ( 390,249 ) Income on formation of joint ventures ( 1,135,036 ) ( 1,135,036 ) Unrealized gains on derivatives instruments ( 2,206,216 ) ( 923,672 ) Fair value amortization of the intangible asset ( 3,603,568 ) ( 3,663,085 ) Other 282,212 114,525 ( 7,004,646 ) ( 5,831,602 ) Total deferred taxes recorded, net ( 1,790,891 ) ( 2,275,998 ) Deferred tax assets 1,900,241 1,607,566 Deferred tax liabilities ( 3,691,132 ) ( 3,883,564 ) (i) The Company opted for the cash regime for the taxation of the exchange variation on loans and financing for the years ended December 31, 2020. (ii) On January 14, 2020, S.A. contributed to the capital of the Compass e the investment it held in the . As a result, the costs recorded in shareholders' equity, derived from the goodwill paid on the acquisitions of shares in voluntary tender offer occurred during the year 2019 , totaling R$ 1,321,000 capital loss. Associated with this amount, a deferred income tax loss of R$ 449,000 was recorded. On the other hand, deferred income tax liabilities were recorded, canceling the effect of the result in the accounting, to be reversed when the future write-off of said goodwill. c) Changes in deferred income tax Tax loss and negative basis Employee Provisions Post-employment benefits Property, plant and equipment Unregistered credits Other Total Assets At January 1, 2019 2,991,933 56,847 950,991 175,177 277,924 ( 2,104,743 ) 1,072,369 3,240,498 (Charged) / credited to the profit for the year ( 76,604 ) 16,938 12,646 3,809 130,657 ( 118,087 ) ( 5,667 ) ( 36,308 ) Other comprehensive income (loss) — 81 — 35,510 — — ( 22,335 ) 13,256 Exchange differences — — — — — ( 2,827 ) 133,490 130,663 Discontinued operation — — — — — 27,493 — 27,493 At December 31, 2019 2,915,329 73,866 963,637 214,496 408,581 ( 2,198,164 ) 1,177,857 3,555,602 Credited / (charged) to the profit for the year 587,315 ( 13,657 ) ( 1,612 ) 14,958 ( 9,044 ) ( 120,834 ) 113,454 570,580 Other comprehensive income (loss) 1,048 — 34,505 ( 28,993 ) — — 39,930 46,490 Exchange differences — — — — — — 1,041,083 1,041,083 At December 31, 2020 3,503,692 60,209 996,530 200,461 399,537 ( 2,318,998 ) 2,372,324 5,213,755 Effects on the formation of Intangible assets Unrealized Leases Fair value Other Total Liabilities At January 1, 2019 ( 1,135,036 ) ( 3,725,546 ) ( 664,841 ) ( 186,345 ) 57,298 ( 276,644 ) ( 5,931,114 ) Credited / (charged) to the profit for the year — 62,461 ( 258,831 ) 149,999 117,299 28,584 99,512 At December 31, 2019 ( 1,135,036 ) ( 3,663,085 ) ( 923,672 ) ( 36,346 ) 174,597 ( 248,060 ) ( 5,831,602 ) Credited / (charged) to the profit for the year — 59,517 ( 1,282,808 ) 10,667 351,405 ( 311,745 ) ( 1,172,964 ) Other comprehensive income (loss) — — 264 220 — ( 34 ) 450 Business combination — — — — — ( 530 ) ( 530 ) At December 31, 2020 ( 1,135,036 ) ( 3,603,568 ) ( 2,206,216 ) ( 25,459 ) 526,002 ( 560,369 ) ( 7,004,646 ) Total deferred taxes recorded ( 1,790,891 ) The Company evaluated the recoverability of deferred taxes assets based on the generation of future taxable profits. The Company expects to realize the full-deferred tax on temporary differences. |
Provision for legal proceedings
Provision for legal proceedings and judicial deposits | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Provision for legal proceedings and judicial deposits | 18. Provision for legal proceedings and judicial deposits Accounting policy Provisions for legal proceedings are recognized as other expenses when the Company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. The assessment of probability loss includes the available evidence, hierarchy of laws, jurisprudence, the most recent court decisions and relevance in the legal system, as well as the opinion of outside counsel. Provisions are reviewed and adjusted according to circumstances, such as limitation period, conclusions of tax inspections or additional exposures identified based on new matters or court decisions. Provisions for legal proceedings resulting from business combinations are estimated at fair value at acquisition date. The Company had provision for legal proceedings and judicial deposits recorded at December 31, 2020 2019 Provision for legal Judicial deposit December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Tax 635,406 589,180 462,197 476,706 Civil, environmental and regulatory 350,769 332,527 140,833 220,932 Labor 374,723 432,464 272,812 245,819 1,360,898 1,354,171 875,842 943,457 Changes in provision for legal proceedings: Tax Civil, Labor Total At January 1, 2019 534,131 362,725 466,312 1,363,168 Provisions 34,962 39,323 83,500 157,785 Settlement / Write-offs ( 28,261 ) ( 117,449 ) ( 149,031 ) ( 294,741 ) Interes t (i) 48,348 47,928 31,683 127,959 At December 31, 2019 589,180 332,527 432,464 1,354,171 Provisions 25,443 46,989 68,049 140,481 Settlement / Write-offs ( 11,947 ) ( 76,772 ) ( 134,071 ) ( 222,790 ) Exchange rate - - 109 109 Interest (i) 32,730 48,025 8,172 88,927 At December 31, 2020 635,406 350,769 374,723 1,360,898 (i) Includes write-off of interest due to reversals. The Company’s legal proceedings are secured by assets, cash deposit, bank guarantee or insurance guarantee. The Company has indemnity actions in addition to those mentioned, which, since they are considered probable, were not recorded because they represent contingent assets. a) Probable losses Tax The principal tax proceedings for which the risk of loss is probable are described below: December 31, 2020 December 31, 2019 Compensation with FINSOCIAL (i) 296,445 293,291 INSS - Social security (ii) 97,928 95,979 State VAT - ICMS credit (iii) 93,743 97,534 IPI - Excise tax credit - NT (iv) 53,697 53,693 Federal income taxes 9,508 1,707 PIS and COFINS 2,304 2,889 Other 81,781 44,087 635,406 589,180 (i) The Brazilian federal tax authorities denied applications filed by CLE to set off credits derived from undue payments of FINSOCIAL, a social tax levy, against other federal tax debts. Based on a favorable judicial decision, Mobil acquired the right to set off credits of FINSOCIAL against certain COFINS liabilities. However, a subsequent favorable judicial decision granted CLE immunity against the enforcement of such COFINS-related debts. Therefore, previous set-off applications were canceled, because COFINS liabilities ceased to exist, and CLE sought to use the relevant tax credits to set off other federal tax debts. However, the Brazilian federal tax authorities refused to ratify the set-offs, claiming that the COFINS immunity applied only to the fiscal year during which the lawsuit was filed (i.e., in 1992 296,400 293,291 (ii) The amount provisioned for INSS, among other cases, is represented, essentially, by amounts related to social security contributions levied on billing, pursuant to Article 22 -A of the Law No. 8,212 / 91 , whose constitutionality is being challenged in court. Judicial deposits are made monthly. (iii) The provisioned amounts relating to tax assessments issued against us by the tax authorities related to several types of ICMS credits, including: (a) an assessment notice related to ICMS payments for raw material purchases which are considered for “use and consumption” and therefore, according to the tax authorities, are not eligible for compensation; (b) an assessment, as sole obligor, for allegedly disregarding withholding obligations of ICMS taxes in relation to a tolling agreement, arising from an agricultural partnership between the Company’s sugarcane plants and Central Paulista Ltda. Açúcar e Álcool; (c) an assessment notice related to ICMS payments related to the exportation of crystallized sugar not considered under tributary immunity; (d) assessment notice related to the ICMS under tributary substitution regime; and (e) ICMS assessment notice related to interstate operations taxed as internal transactions and, therefore, subject to a higher rate. No judicial deposits have been made in connection with these proceedings. These provisions amounted to R$ 93,407 97,534 (iv) IPI Selectivity proceedings, from November 1992 to December 1995, judged by the STF, using the General Repercussion method (RE No. 592,145 080 39,407 Civil, regulatory, environmental and other claims The Company and its subsidiaries and jointly-controlled entities are parties to a several numbers of civil legal claims related to ( 1 2 3 4 5 350,769 332,527 140,833 220,932 1 2 3 Labor claims The Company and its subsidiaries and jointly-controlled entities are also parties to a number of labor claims filed by former employees and service providers challenging, among other matters, the payment of overtime, night shift premiums and risk premiums, the recognition of employment relationships and the reimbursement of discounts from payroll, such as social contribution and trade union charges. Additionally, we are involved in several labor administrative and judicial proceedings such as labor investigations and class actions filed by the labor prosecutor’s office regarding alleged noncompliance with certain labor regulations, including work and safety rules, labor conditions and work environment, and social assistance plans. Moreover, we entered into certain consent orders ( Termos de Ajustamento de Conduta 2019 374,723 432.464 272,812 245,819 2019 b) Possible losses The principal proceedings for which we deem the risk of loss as possible are described below: December 31, 2020 December 31, 2019 Tax 13,416,966 11,382,113 Civil, environmental and regulatory 5,476,470 5,032,906 Labor 942,352 968,426 19,835,788 17,383,445 Tax December 31, 2020 December 31, 2019 Federal income taxes (i) 4,344,963 3,619,834 ICMS - State VAT (ii) 3,042,710 2,869,089 PIS and COFINS - Revenue taxes (iii) 2,182,933 1,529,885 IRRF - Withholding tax (iv) 1,227,555 1,030,981 Penalties related to tax positions (v) 473,690 483,577 IPI - Excise tax credit - NT (vi) 455,121 451,781 MP 470 (vii) 357,500 304,961 INSS - Social security and other (viii) 226,807 226,857 Compensation with IPI - IN 67 98 (ix) 183,585 181,655 Goodwill (x) 84,953 83,734 Stock option (xi) 63,986 70,072 Foreign financial operation (xii) 29,136 28,701 Financial transactions tax on loan 14,886 53,765 Other 729,141 447,221 13,416,966 11,382,113 (i) The Company and its subsidiaries have (a) assessment notices related to the disallowance of deductions from the amortization of goodwill expense; (b) The subsidiary Comgás was aware of the non-approval of tax debt offsetting carried out in 2015 2016 Imposto de Renda Pessoa Jurídica Contribuição Social sobre o Lucro Líquido Receita Federal do Brasil 50 74 9,430 96 6 13,670 2018 (ii) The legal claims related to the ICMS essentially involve: (a) The part related to the fine required in the infraction notices issued for alleged failure to pay ICMS and non-compliance with ancillary obligations, in an agricultural partnership and industrialization operation by order; (b) ICMS levied on exits of crystallized sugar destined for export, benefited by the Tax Immunity, which, in the view of farmers, such a product would be classified as semi-finished goods; (c) tax assessment notices related to the collection of the ICMS rate differential resulting from sales and / or purchases of goods that, after the operations, had their state registrations revoked; (d) ICMS requirement resulting from disallowance of diesel oil credits used in the agro-industrial production process; (e) ICMS requirement arising from alleged inventory differences; (f) ICMS requirement resulting from tax substitution and tax war and (g) payment of FEEF - State Tax Balance Fund (deposit of 10 155 2 88 7,248 2016 45,810 2016 (iii) The possible legal claims related to PIS and COFINS are substantially related to the disallowance of PIS and COFINS credits by the non-cumulative system, provided for in Laws No. 10,637 2002 10,833 2003 (iv) The subsidiary CLE had an assessment notice drawn up for the collection of income tax withheld at source, as a tax officer, due to an alleged capital gain resulting from the acquisition of assets from companies located abroad. (v) The Company was assessed due to the disregard of the tax benefits of REPORTO (PIS and COFINS suspension), on the grounds that the locomotives and freight cars purchased in 2010 50 (vi) Tax claims filed by the Brazilian federal government regarding the tax on industrialized products (Imposto sobre produtos industrializados), or “IPI,” mainly related to: (i) allegedly due as a result of the removal of certain types of sugar from 1995 1997 1992 1997 Three two 99.5 (vii) Brazilian federal tax authorities have partially rejected the Company’s application for payment of federal tax debts with carryforward losses, pursuant to the payment plan provided for by provisional measure No. 470 2009 (viii) The legal proceeding related to INSS payment involve the following: (a) the legality and constitutionality questioning Normative Instruction MPS/SRP Nº 03 2005 (ix) The lawsuits related to the IPI essentially involve: (a) Tax requirement on sugar sales subject to zero 99.5 67 98 (x) Tax assessment issued by the Brazilian Tax Authority in 2011 2013 2019 2019 (xi) Tax assessments issued against the Rumo S.A. for the collection of social security contributions ( 20 (xii) Tax assessment notices issued to require additional income tax, social contribution, PIS and COFINS, for the calendar years 2005 2008 The Company has not identified effects of IFRIC 23 Uncertainty over Income Tax Treatments Tax contingencies refer to tax assessments mainly at the Federal level assessed as possible losses by lawyers and management and, therefore, without a provision being recorded. Civil, environment and regulatory The Company and its subsidiaries are parties to a several numbers of civil legal claims related to ( 1 2 3 4 Labor One 15,000 c) Contingent assets (i) On March 15, 2017, in case that sets a judicial precedent, the STF granted Extraordinary Appeal No. 574,706 Imposto sobre Circulação Mercadorias Serviços ), or “ICMS,” in the calculation of the tax base of employees’ profit participation program ( Programa Integração ), or “PIS,” and social contribution for social security financing ( Contribuição Financiamento Seguridade ), or “COFINS.” There is still an approximate amount of R$ 932,000 , related to exclusion of ICMS from PIS and COFINS tax bases, arising prior to the STF ruling and not considered res judicata , which remains considered as a contingent asset. (ii) On December 6, 2019, ARSESP published Resolution No. 933 , which approved the amount of R$ 683,358 , upon termination of the concession, or to any amounts payable by 995 27 , 2020 . With the publication of the aforementioned resolution, there are no more ongoing discussions regarding tariffs related to previous periods with ARSESP. The amount indicated in Resolution No. 933 (iii) The Company has an indemnity proceeding due to the economic and financial imbalance of the Concession Agreement, with respect to tariff reviews. The right to recovery is the result of the wrong criteria followed for the tariff review. The updated case amount is R$ 658,096 . |
Shareholders' equity
Shareholders' equity | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Shareholders' equity | 19. Shareholders’ equity a) Share capital Accounting policy Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from equity. Income taxes relating to transaction costs of an equity transaction are accounted for in accordance with policy described in Note 1 7 At December 31, 20 20 , Cosan Limited’s share capital is composed of the following : Shareholders Class A common shares % Class B common shares % Total number of shares % Controlling group 33,625,380 23.66 % 96,332,044 100.00 % 129,957,424 54.50 % Renaissance Technologies LLC 5,923,094 4.17 % — 0.00 % 5,923,094 2.48 % Free float 102,567,060 72.17 % — 0.00 % 102,567,060 43.02 % Total of shares 142,115,534 100.00 % 96,332,044 100.00 % 238,447,578 100.00 % b) Treasury shares Accounting policy Treasury shares represent the stocks that are repurchased by the company and are available for specific and limited intents. For accounting purposes, Cosan hold the shares required to meet the future employee share-based payment plans and the volume is treated in the same manner as treasury shares . As of December 31, 2020, the Company did not hold any treasury shares. During the year ended December 31, 2020, the Company delivered 3,616,531 13,021,744 c) Dividends Accounting policy Cosan Limited is a holding company and can only pay dividends to the extent, if any, that funds are received from its subsidiaries . Company’s board of directors declared dividends to shareholders in the amount of R$ 1,402,899 d) O ther comprehensive (loss) income December 31, 2019 Comprehensive (loss) income December 31, 2020 Loss on cash flow hedge ( 790,403 ) ( 526,099 ) ( 1,316,502 ) Foreign currency translation differences 49,281 ( 42,767 ) 6,514 Actuarial loss on defined benefit plan ( 180,958 ) ( 36,813 ) ( 217,771 ) Gain on measurement of financial instrument 15,000 — 15,000 Change in fair value of financial assets 1,277 278 1,555 ( 905,803 ) ( 605,401 ) ( 1,511,204 ) Attributable to: Owners of the Company ( 805,471 ) ( 718,556 ( 1,524,027 Non-controlling interests ( 100,332 ) 113,155 12,823 December 31, 2018 Comprehensive (loss) income December 31, 2019 Loss on cash flow hedge ( 533,917 ) ( 256,486 ) ( 790,403 ) Foreign currency translation differences 21,493 27,788 49,281 Actuarial loss on defined benefit plan ( 99,246 ) ( 81,712 ) ( 180,958 ) Gain on measurement of financial instrument 15,000 — 15,000 Change in fair value of financial assets 1,085 192 1,277 ( 595,585 ) ( 310,218 ) ( 905,803 ) Attributable to: Owners of the Company ( 587,173 ) ( 218,298 ) ( 805,471 ) Non-controlling interests ( 8,412 ) ( 91,920 ) ( 100,332 ) |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Earnings per share | 20. Earnings per share Accounting policy a) Basic earnings per share Basic earnings per share are calculated by dividing: i . the profit attributable to the owners of the company, excluding any equity service costs other than common shares; and ii. by the weighted average number of common shares outstanding during the year, adjusted by the bonus elements in common shares issued during the period and excluding treasury shares, if applicable. b) Diluted earnings per share Diluted earnings per share adjust the amounts used in determining basic earnings per share to take into account: i. the effect after tax on interest income and other financing costs associated with potential diluting common shares; and ii. the weighted average number of additional common shares that would be outstanding, assuming conversion of all potential dilutive common shares. The following table sets forth the calculation of earnings per share (in thousands of Brazilian reais , except per share amounts): December 31, December 31, December 31, Profit attributable to the holders of the Company’s common shares used in the calculation of basic earnings per share 859,482 1,316,341 975,448 Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating basic earnings per share 859,482 1,305,320 1,003,678 Dilutive effect of the share-based plan of subsidiaries ( 5,739 ) ( 5,714 ) ( 2,882 ) Profit attributable to the holders of the Company’s common shares used in the calculation of diluted earnings per share 853,743 1,310,627 972,566 Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating diluted earnings per share 853,743 1,299,606 1,000,796 Weighted average number of outstanding in thousands of shares Basic 223,630 227,560 244,065 Dilutive effect of the share-based plan 6,741 8,530 10,061 Dilutive 230,371 236,090 254,126 Earnings per share Basic R$ 3.8433 R$ 5.7850 R$ 3.9970 Diluted R$ 3.7059 R$ 5.5510 R$ 4.1120 Earnings per share from continuing operations Basic R$ 3.8433 R$ 5.7360 R$ 3.8270 Diluted R$ 3.7059 R$ 5.5050 R$ 3.9500 |
Net sales
Net sales | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Net sales | 21. Net sales Accounting policy The Company recognizes revenues from the following main sources: a) Sale of products The Company operates in the production and distribution of lubricants including the brands Mobil and Comma. Products are sold in contracts identified with individual customers and in sets, as a package of goods or services . The Company recognizes sales revenues upon delivery to the customer as long as revenue and costs can be measured reliably, receipt of the consideration is probable and there is no continuous involvement of management with the products. Delivery is considered to be the moment when the customer accepts the goods, and the risks and benefits related to the property are transferred . Some lubricant sales contracts cannot be purchased separately from a package of services. However, the goods and services are clearly distinct in the contracts. This sales modality represents two measured and recorded separately. Trade incentives, including cash incentives, discounts and volume rebates, and free or discounted goods or services, are accounted for as a reduction of revenue . Discounts, rebates, credits, price concessions, performance bonuses and similar incentives are treated as variable consideration and included in the transaction price at the company’s best estimate, and is included in revenue to the extent that it is highly probable that there will be no significant reversal of the cumulative amount of revenue when any pricing uncertainty is resolved . b) Logistics services rendered Revenues from the provision of services are recognized when the entity transfers to the counterpart the significant risks and benefits inherent to the provision of services, when it is probable that the economic benefits associated with the transaction will flow to the Company, as well as when its related value and incurred costs can be reliably measured. Service prices are fixed based on service orders or contracts. The Company ’ s revenue is basically comprised of rail freight, road freight, container transport and port elevation services, which is why the above criteria are normally met to the extent that the logistics service is provided. c) Deferred revenue Consists in advances received from clients seeking investment in fixed assets in return for a rail service contract requiring future performance of services by the Company. d) Natural gas distribution Revenue is measured based on the consideration specified in a contract with a customer. Revenues from natural gas sales are recorded based on the volume of natural gas sold and its respective tariffs regulated by ARSESP, which provides for five Revenue is recognized when the gas is delivered to the delivery points (predetermined in the agreements with each customer) i.e. performance obligation on delivery of gas is satisfied. Customers obtain control of gas when it’s transferred through pipelines to the customer. In accordance with contractual terms, late payment fees and interests are calculated based on outstanding balances as of invoices original due dates. The transaction price does not have variable consideration. The Company recognizes revenues from the following main sources: Billed revenue The Company provides gas distribution services through the Comgás . Fair value and service selling prices are conveniently released and recognized when its value is measured reliably, recognized as having no result at the same volume as those delivered to customers based on the monthly measurements performed. The fair value and selling prices of individual services are fairly similar . Unbilled revenue Refers to natural gas delivered to customers, which billing to customers have not yet occurred. The Company estimates gas delivered to the various customer segments as a different tariff applies to each customer segment, based on historical consumption patterns. The corresponding revenues is recognized by multiplying the estimated unbilled gas per customer segment by the corresponding tariff. The actual amounts billed may differ from the estimates. The Company believes that, based on its historical experience, the unbilled estimated amount will not significantly differ from actual amounts. Infrastructure concessions The construction of the infrastructure necessary for gas distribution is considered a construction service rendered to the ARSESP, and the related income is recognized in profit or loss at finishing stage of the work. Construction costs are recognized by reference to the stage of completion of the construction activity at the end of the reporting year and are included in cost of sales. Services rendered The Company provides a service of installation of natural gas equipment. Such services are recognized as a performance obligation satisfied over time. Revenue is recognized for these installation services based on the stage of completion of the contract. The Company has assessed that the stage of completion determined as the proportion of the total time expected to install that has elapsed at the end of the reporting period is an appropriate measure of progress towards complete satisfaction of these performance obligations. Payment for services is not due from the customer until the installation services are complete and therefore a contract asset is recognized over the period in which the installation services are performed representing the Company’s right to consideration for the services performed to date. e) Electricity trading The Company recognizes revenue from electricity supply to customers and wholesalers at fair value of the related consideration, for delivery of electricity in a given period. The volume of electric energy delivered to buyer is determined on a monthly basis . Customers obtain control of electricity from the moment they consume it. Invoices are issued monthly and are usually paid within 30 Revenue from energy trading is recorded based on bilateral contracts signed with market agents and duly registered with the Electric Energy Trading Chamber ( Câmara de Comercialização de Energia Elétrica ), or “CCEE.” Revenue is recognized based on the energy sold and at prices specified under the supply to customers and wholesalers’ contracts. The Company may sell the energy produced in two i ) in the Free Contracting Environment ( Ambiente de Contratação Livre ), or “ACL,” where energy trading takes place through free negotiation of prices and conditions between the parties, through bilateral contracts; and (ii) in the Regulated Contracting Environment ( Ambiente de Contratação Regulada ), or “ACR,” where electricity is sold to distribution agents. Short-term market The Company recognizes revenue at the fair value of the consideration receivable when transactions in the short-term market occur. The price of energy in these operations is characterized by the link with the Differences Settlement Price ( Preço de Liquidação de Diferenças ), or “PLD.” Trading operations Energy trading operations are carried out in an active market and, for accounting measurement purposes, they meet the definition of financial instruments at fair value. The Compass Trading recognizes revenue when the energy is delivered to customers at fair value of the consideration. In addition, unrealized net gains resulting from mark-to-market - difference between contracted and market prices - from open net contracted operations on the date of the consolidated financial statements are recognized in revenue. The following is an analysis of the Company’s net sales for the year: December 31, December 31, December 31, Gross revenue from sales of products and services 24,040,536 23,703,245 19,609,252 Construction revenue 885,630 813,341 415,753 Indirect taxes and deductions ( 4,488,331 ) ( 3,905,177 ) ( 3,190,237 ) Net sales 20,437,835 20,611,409 16,834,768 In the following table, revenue is disaggregated by products and service lines and timing of revenue recognition: December 31, December 31, December 31, At a point in time Natural gas distribution 7,372,957 8,636,221 6,363,617 Electricity trading 775,479 — — Lubricants and base oil 4,283,704 3,916,504 3,414,536 Other 59,923 64,682 60,641 12,492,063 12,617,407 9,838,794 Over time Railroad transportation services 6,680,307 6,548,109 5,715,450 Port elevation 285,852 351,563 303,800 Construction revenue 885,630 813,341 415,753 Services rendered 131,871 317,960 601,098 7,983,660 8,030,973 7,036,101 Elimination ( 37,888 ) ( 36,971 ) ( 40,127 ) Total 20,437,835 20,611,409 16,834,768 |
Costs and expenses by nature
Costs and expenses by nature | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Costs and expenses by nature | 22. Costs and expenses by nature The costs and expenses are presented in the statement of profit and loss by function. The reconciliation of income by nature/purpose is as follows: December 31, 2020 December 31, 2019 December 31, 2018 Commodity cost (natural gas) (i) ( 3,867,044 ) ( 4,885,497 ) ( 3,767,874 ) Raw materials ( 3,289,845 ) ( 3,231,169 ) ( 2,754,546 ) Personnel expenses ( 2,533,429 ) ( 2,244,252 ) ( 1,998,898 ) Depreciation and amortization ( 2,340,854 ) ( 2,287,877 ) ( 2,051,824 ) Railroad transportation and port elevation expenses ( 1,897,975 ) ( 1,867,196 ) ( 1,695,600 ) Electricity purchased for resale ( 927,913 ) — — Construction cost ( 885,630 ) ( 813,341 ) ( 415,753 ) Natural gas transportation cost ( 753,603 ) ( 703,500 ) ( 718,088 ) Leases expenses ( 59,693 ) ( 48,182 ) ( 14,157 ) Selling expenses ( 23,387 ) ( 26,168 ) ( 30,139 ) Leases and concessions expenses — — ( 212,081 ) Other ( 672,176 ) ( 411,979 ) ( 444,119 ) ( 17,251,549 ) ( 16,519,161 ) ( 14,103,079 ) Cost of sales ( 14,501,725 ) ( 14,160,233 ) ( 12,108,305 ) Selling expenses ( 959,146 ) ( 1,122,866 ) ( 1,019,234 ) General and administrative expenses ( 1,790,678 ) ( 1,236,062 ) ( 975,540 ) ( 17,251,549 ) ( 16,519,161 ) ( 14,103,079 ) (i) Includes the amount of R$ 201,346 arising from the recognition of sector financial asset and liability. |
Other income (expenses), net
Other income (expenses), net | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Other income (expenses), net | 23. Other income (expenses), net December 31, 2020 December 31, 2019 December 31, 2018 Settlement of disputes in the renewal process (i) 278,496 — — Tax credits 132,399 165,398 199,027 Gain (loss) on disposal of non-current assets and intangibles 30,610 ( 35,274 ) ( 956 ) Reimbursement of natural gas loss in the process (ii) 26,945 — — Gain on compensation claims — 50,284 — Indemnity — — 726,000 Net effect of legal proceedings ( 32,704 ) ( 105,153 ) ( 115,383 ) D epreciation of right-of-use ( 100,593 ) ( 40,545 ) — Disposal of credit rights (iii) ( 68,311 ) 410,000 — Loss on impairment (Note 12.2 ( 143,984 ) — ( 72,448 ) Other 54,011 ( 40,024 ) 11,042 176,869 404,686 747,282 (i) R$ 348,319 Note 14 69,823 Rumo Malha Paulista , whose discussion the Company gave up as a prerequisite for the conclusion of the process of early renewal of the concession, one the requirements imposed by TCU . (ii) Reimbursement of expenses on regulatory losses pursuant to ARSESP Resolution No. 977 (iii) On September 19, 2019, Cosan S.A. entered into a definitive agreement with Jus Capital Gestão de Recursos Ltda. for the purchase and sale of credit rights arising from severance claims filed against the Brazilian federal government, which was required to pay compensation for material damages resulting from the fixing of sugar and alcohol prices below their cost of production. The total amount involved amounts to R$ 410,000 95 410,000 95 |
Finance results
Finance results | 12 Months Ended |
Dec. 31, 2020 | |
Investments accounted for using equity method [abstract] | |
Finance results | 24. Finance results Accounting policy Finance income comprises interest income on funds invested, dividend income, fair value gains on financial assets at fair value through profit or loss, gains on the remeasurement to fair value of any pre-existing interest in an acquire in a business combination, gains on hedging instruments that are recognized in profit or loss and reclassifications of net gains previously recognized in other comprehensive income. Interest income is recognized as it accrues in profit or loss, using the effective interest method. Dividend income is recognized in profit or loss on the date that the Company’s right to receive payment is established, which in the case of quoted securities is normally the ex-dividend date. Finance expense comprise interest expense on borrowings, unwinding of the discount on provisions and deferred consideration, dividends on preference shares classified as liabilities, fair value losses on financial assets at fair value through profit or loss and contingent consideration, impairment losses recognized on financial assets (other than trade receivables), losses on hedging instruments that are recognized in profit or loss and reclassifications of net losses previously recognized in other comprehensive income. Borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognized in profit or loss using the effective interest method. Foreign exchange gains and losses on financial assets and financial liabilities are reported on a net basis as financial income or financial cost, depending on whether the net foreign currency fluctuations result in a gain or loss position. Details of finance income and costs are as follows: December 31, December 31, December 31, Cost of gross debt Interest on debt ( 2,148,322 ) ( 1,626,911 ) ( 1,595,140 ) Monetary and exchange rate variation ( 3,253,446 ) ( 438,430 ) ( 1,488,293 ) Derivatives and fair value measurement 3,918,848 764,816 1,530,494 Amortization of borrowing costs ( 58,732 ) ( 56,397 ) ( 54,007 ) Guarantees and warranties ( 56,079 ) ( 65,207 ) ( 107,692 ) ( 1,597,731 ) ( 1,422,129 ) ( 1,714,638 ) Income from financial investment 369,690 407,701 437,583 369,690 407,701 437,583 Cost of debt, net ( 1,228,041 ) ( 1,014,428 ) ( 1,277,055 ) Other charges and monetary variations Interest on other receivables 201,060 435,498 460,886 Interest on other payables ( 16,293 ) ( 302,620 ) ( 87,499 ) Interest on leases and concessions agreements ( 37,657 ) ( 190,272 ) ( 186,259 ) Interest on leases payable ( 557,825 ) ( 368,968 ) ( 105,085 ) Advances on real state credits — — ( 5,091 ) Interest on shareholders' equity ( 4,959 ) ( 18,726 ) ( 13,011 ) Interest on contingencies and contracts ( 234,368 ) ( 222,617 ) ( 227,825 ) Bank charges and other ( 75,408 ) ( 196,230 ) ( 94,505 ) Foreign exchange, net ( 30,505 ) ( 89,260 ) ( 62,978 ) ( 755,955 ) ( 953,195 ) ( 321,367 ) Finance results, net ( 1,983,996 ) ( 1,967,623 ) ( 1,598,422 ) Reconciliation Finance expense ( 4,727,561 ) ( 3,690,578 ) ( 2,836,763 ) Finance income 407,710 974,604 1,032,158 Foreign exchange, net ( 3,258,656 ) ( 526,946 ) ( 1,552,366 ) Derivatives 5,594,511 1,275,297 1,758,549 Finance results, net (1,983,996 ) (1,967,623 ) (1,598,422 ) |
Post-employment benefits
Post-employment benefits | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Post-employment benefits | 25. Post-employment benefits Accounting policy The cost of defined benefit pension plans and other post-employment and the present value of the pension obligation is determined using actuarial valuations. An actuarial valuation involves the use of various assumptions which may differ from actual results in the future. These include the determination of the discount rate, future salary increases, mortality rates and future pension increases. A defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed by management at each reporting date. a) Defined contribution A defined contribution plan is a post-employment benefit plan under which the Company pays fixed contributions into a separate entity and has no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution plans are recognized as an employee benefit expense in profit or loss in the periods during which related services are rendered by employees. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in future payments is available. Contributions to a defined contribution plan that is due more than 12 The Company provides defined contribution plans to all employees. The plan assets are Futura II - Entidade de Previdência Complementar (“Futura”) and Plano de Pensões Comgás (“PLAC”). The Company and its subsidiaries do not have a legal or constructive obligation to pay further contributions if the fund does not have sufficient assets to pay all of the benefits owed. b) The Company is the sponsor of defined benefit pension plans for some of its employees. A defined benefit plan is a post-employment benefit plans other than a defined contribution plan. The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows, using interest rates that are denominated in the currency in which the benefits will be paid, and that have terms approximating to the terms of the related obligation. Gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized in the period in which they occur, directly in other comprehensive income. Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognized immediately in profit or loss as past service costs. Some of the Company’s pension plan, even though it is substantially defined contribution, has a variable component, whose risk is linked to the payment of minimum benefit and to the increase of the future contributions of the sponsors in the benefits in the event of Death Tax of the active taxpayer as well as in Disability Retirement, limited to three Defined benefit plan paid off, whose active participants have a paid-up benefit calculated in accordance with the regulation, which is being updated to the date of receipt by the plan of readjustment index, which leads the company to adopt such a provision the present value of benefits and that assisted participants receive annuity under the plan. The main actuarial risks are: higher survival to that specified in mortality tables; the return on equity under the actuarial discount rate plus the accumulated IGP-DI; and real family structure of different retirees established hypothesis. c) The Company offers the following post-employment health care benefits, granted to former employees and their dependents who retired up to May 31, 2000 20 Instituto Nacional do Seguro Social 15 The liability recognized in the statement of financial position in respect of defined benefit post-employment plans is calculated annually by independent actuaries. The amount recognized in the statement of financial position in relation to health plan liabilities represents the present value of the obligations less the fair value of the assets, including actuarial gains and losses. Remeasurement of the net obligation, which include: actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset cap (if any, excluding interest), are recognized immediately in other comprehensive income. Net interest and other expenses related to defined benefit plans are recognized in profit or loss. Actuarial gains and losses based on experience adjustments and changes in actuarial assumptions are recognized directly in equity as other comprehensive income, when incurred. December 31, December 31, Defined contribution Futura II 186 361 Defined benefit Futura 163,972 74,093 Health Plan 564,576 630,549 728,734 705,003 a) Defined contribution During the year ended December 31, 20 20 214 215 459 9 201 8 b) Defined benefit The subsidiary CLE sponsors Futura - Supplementary Pension Entity (“Futura”), formerly Previd Exxon - Supplementary Pension Entity, whose main purpose is the complementary benefits, within certain limits established in the Regulation of the Retirement Plan. This plan was amended to close it to new participants and approved by the competent authorities on May 5, 2011. During the year ended December 31, 2020, the amounts of contributions totaled R$ 7,044 4,349 10.2 2020 4,700 c) Health p lan Comgás has obligations relating to post-employment benefit plans, which include medical assistance and incentive retirement, sick pay and disability benefits are recorded in accordance with CVM Regulation No. 695 The defined pension plan is governed by employment laws of the Brazil, which require final salary payments to be adjusted for the consumer price index upon payment during retirement. The level of benefits provide depends on the member’s length of service and salary at retirement age. During the year ended December 31, 2020, the amounts of contributions totaled R$ 24,690 30,151 14.9 16.5 2019 Details of the present value of the defined benefit obligation and the fair value of plan assets are as follows: December 31, December 31, Actuarial obligation at beginning of the year 1,249,630 1,012,792 Current service cost 540 480 Interest on actuarial obligation 89,253 91,849 Actuarial (gain) loss arising from financial assumptions ( 58,250 ) 211,030 Actuarial loss (gain) arising from experience adjustment 30,267 ( 1,216 ) Actuarial loss arising from demographic assumptions 14 — Benefits payment ( 62,298 ) ( 65,305 ) Actuarial obligation at the end of the year 1,249,156 1,249,630 Fair value of plan assets at the beginning of the year ( 544,988 ) ( 433,174 ) Interest income ( 38,452 ) ( 39,299 ) Return on investments in the year (excluding interest income) 34,370 ( 105,417 ) Employer contributions ( 33,836 ) ( 32,403 ) Benefit payments 62,298 65,305 Fair value of plan assets at the end of the year ( 520,608 ) ( 544,988 ) Net defined benefit liability 728,548 704,642 Total expense recognized in profit or loss is as follows: December 31, December 31, Current service cost ( 540 ) ( 480 ) Interest on actuarial obligation ( 45,567 ) ( 45,601 ) ( 46,107 ) ( 46,081 ) Total amount recognized as other accumulated comprehensive income: December 31, December 31, Accumulated at the beginning of the year 66,305 170,702 Actuarial gain (loss) arising from financial assumptions 58,250 ( 211,030 ) Actuarial (loss) gain arising from experience adjustment ( 30,267 ) 1,216 Actuarial loss arising from demographic assumptions ( 14 ) — Return on investments in the year (excluding interest income) ( 34,370 ) 105,417 Accumulated at the end of the year 59,904 66,305 The plan assets are composed of the following: December 31, 2020 December 31, 2019 Amount % Amount % Fixed income bonds 513,470 99.96 % 540,804 99.98 % Other 180 0.04 % 84 0.02 % 513,650 100.00 % 540,888 100.00 % Plan assets are comprised of financial assets with quoted prices in active markets and therefore are classified as level 1 2 The tax effects from this provision are detailed in Note 1 7 The main assumptions used to determine the benefit obligations of the Company are as follows: Defined benefit Health plan December 31, December 31, December 31, December 31, Discount rate (per year) 7.20 % 7.28 % 7.43 % 7.43 % Inflation rate (per year) 3.00 % 3.70 % 3.50 % 3.70 % Future salary increases (per year) N/A N/A 6.60 % 6.81 % Increase in pension plans (per year) 3.00 % 3.70 % 6.60 % 6.81 % Sensitivity analysis Change in the discount rate for the statement of financial position date in one Discount rate 0.50 ( 0.50 Defined benefit ( 31,358 ) 34,201 Health plan ( 35,907 ) 40,575 There was no change in relation to previous years in the methods and assumptions used in preparing the sensitivity analysis. |
Share-based payment
Share-based payment | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Share-based payment | 26. Share-based payment Accounting policy The fair value of share-based payment benefits at the grant date is recognized as employee benefit expense with a corresponding increase in shareholders’ equity for the period in which employees unconditionally acquire the right to benefits. The amount recognized as an expense is adjusted to reflect the number of shares for which there is an expectation that the conditions of service and non-market acquisition conditions will be met in such a way that the amount finally recognized as an expense is based on the number of actions that actually meet the conditions of the service and non-market acquisition conditions on the date the vesting date is acquired. For non-vesting share-based payment benefits, the fair value on the grant date of the share-based payment is measured to reflect such conditions and there is no change to the difference between expected and actual benefits. The plans have been administered by the Board of Directors, at its option, by a Committee, within the limits established in the guidelines for the preparation and structuring of each plan and in the applicable legislation. Description of share-based payment arrangements follow: a) A scheme under which share may be issued by the Company to employees for no cash consideration was approved by shareholders at the 2016 Under the scheme, eligible employees may be granted common shares annually for no cash consideration. The number of shares issued to plan participants is the offer amount divided by the weighted average price at which the Company’s shares are traded on the Stock Exchange. The shares are recognized at the closing share price on the grant date (grant date fair value) as an issue of treasury shares and as part of employee benefit costs in the period the shares are granted. For equity-settled share based compensation, expense is based on the grant date of fair value of the awards expected to vest over the vesting period. For awards with graded vesting, the fair value of each tranche is recognized over the respective vesting period. At the end of each reporting period, the Company re-assesses its estimates of the number of awards that are expected to vest and recognizes the impact of the revisions in the statement of profit or loss. The Black-Scholes methodology was used to calculate the fair value under the terms of the Stock-Based Compensation Plan. b) The Company has phantom stock plan that provides for the granting of stock appreciation rights (“SARs”) and other cash-based awards to certain employees. SARs provide the opportunity to receive a cash payment equal to the fair market value of the Company’s common shares less the grant prince. Compensation expense is recognized based on the fair value, measured according to the market-to-market of the Cosan’s shares. Any changes in the liability are recognized in profit or loss. c) The cost of equity-settled transactions with employees is measured by reference to fair value of the equity instruments on the date on which they are granted and is recognized as an expense over the vesting period, which ends on the date on which the employees become fully entitled to the award. A corresponding credit is recognized within equity. In valuing equity-settled transactions, no account is taken of any vesting conditions, other than conditions linked to the price of the shares of the company (market conditions). Non-vesting conditions, such as the condition that employees contribute to a savings-related plan, are taken into account in the grant-date fair value, a failure to meet a non-vesting condition, where this within the control of the employee is treated as a cancellation and any remaining unrecognized cost is expensed. The Black-Scholes model was developed for use in estimating the fair value of traded options that have on vesting restrictions. The model requires the use of subjective assumptions, including expected stock-price volatility, expected life of the stock option or stock grant and yield. The last two Expected volatility has been based on an evaluation of the historical volatility the Company’s share price, particularly over the historical period commensurate with the expected term. The expected term of the instruments has been based on historical experience and general option holder behavior. For other equity-settled share-based payment transactions, the goods or services received and the corresponding increase inequity are measured at the fair value of the goods or services received unless their fair value cannot reliably estimated. If the fair value of the goods and services received cannot be reliably estimated, the transaction is measured by reference to the fair value of the equity instruments granted. Cosan Limited’s and Cosan Logística’s equity-based compensation plan were discontinued and all outstanding awards were settled before the merger of Cosan Limited and Cosan Logística with and into Cosan S.A. The following share-based payment arrangements: Type of award / Grant date Company Expected life (years) Shares granted Exercised / canceled / transferred Available Share-based payment plan April 27, 2017 Cosan S.A. 5 274,000 ( 84,000 ) 190,000 July 31, 2017 Cosan S.A. 5 298,107 ( 90,262 ) 207,845 July 31, 2018 Cosan S.A. 5 210,602 ( 17,868 ) 192,734 July 31, 2019 Cosan S.A. 5 57,255 — 57,255 July 31, 2020 Cosan S.A. 5 17,243 — 17,243 857,207 ( 192,130 ) 665,077 April 20, 2017 Comgás 5 61,300 ( 14,405 ) 46,895 August 12, 2017 Comgás 5 97,780 ( 13,616 ) 84,164 August 1, 2018 Comgás 5 96,787 ( 5,338 ) 91,449 July 31, 2019 Comgás 5 83,683 ( 3,997 ) 79,686 February 01, 2020 Compass Gás e Energia 5 1,858,969 — 1,858,969 2,198,519 ( 37,356 ) 2,161,163 October 1, 2015 Rumo 5 1,485,900 ( 1,485,900 ) — January 2, 2017 Rumo 5 1,476,000 ( 23,600 ) 1,452,400 September 1, 2017 Rumo 5 870,900 ( 144,450 ) 726,450 August 1, 2018 Rumo 5 1,149,544 ( 173,453 ) 976,091 August 15, 2019 Rumo 5 843,152 ( 29,074 ) 814,078 August 15, 2019 Rumo 5 776,142 — 776,142 6,601,638 ( 2,068,877 ) 4,745,161 August 18, 2017 (i) Cosan Limited 5 7,146,694 ( 7,146,694 ) — 7,146,694 ( 7,146,694 ) — Share-based payment plan (modification plans) August 18, 2011 Cosan S.A. 1 12 1,501,626 ( 1,276,283 ) 225,343 December 12, 2012 Cosan S.A. 1 7 24,647 ( 24,647 ) — April 24, 2013 Cosan S.A. 5 7 122,123 ( 122,123 ) — April 25, 2014 Cosan S.A. 5 7 283,808 ( 283,808 ) — August 31, 2015 Cosan S.A. 5 7 463,906 ( 453,515 ) 10,391 2,396,110 ( 2,160,376 ) 235,734 Cash-settled transactions July 31, 2019 Cosan Limited 5 255,000 ( 255,000 ) — July 31, 2019 Moove 5 132,670 — 132,670 July 31, 2020 Moove 5 106,952 — 106,952 239,622 — 239,622 Total 19,694,790 ( 11,648,033 ) 8,046,757 (i) The expense of acceleration of the vesting of the awards in the share-based compensation plan of Cosan Limited in connection with the merger of Cosan Limited with and into Cosan S.A. was R$246,900. Measurement of fair values The weighted average fair value of the programs granted during the financial years ended December 3 1 2020 2019 Stock grant programs Cosan S.A. Rumo S.A. Comgás Compass Gás e Energia December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Weighted average fair value at grant date 50.88 50.88 13.12 22.17 60.07 78.58 13.58 — Key assumptions: Share price at grant date 83.79 50.88 20.01 22.17 — 78.58 13.58 — Risk-free interest rate 6.94 6.82 6.94 6.82 6.94 6.82 N.A — Volatility factor 36.50 36.50 36.50 27.46 32.81 32.80 N.A — Reconciliation of outstanding share options The movement in the number of awards outstanding and their related weighted-average exercise prices are a s follows At January 1, 2019 10,667,826 Granted 1,090,536 Vested ( 963,430 Cancelled ( 3,492,003 At December 31, 2019 7,302,929 Granted 2,883,559 Vested ( 1,942,401 Cancelled ( 197,330 At December 31, 2020 8,046,757 E xpense recognized in profit or loss Share-based compensation expense included in the statement of profit and loss for the years ended December 31, 2020 and 2019 was R$ 293,011 96,212 |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Subsequent events | 27. Subsequent events 27.1 ARSESP Resolution No. 1,111 On January 13, 2021, ARSESP published Resolution No. 1 111 1 065 27.2 Settlement of Promissory Notes at indirect subsidiary Comgás On January 5, 2021, the subsidiary Comgás released and approved the payment of principal, interest and premiums on the 4 th 5 th 6 1,125,092 1 2020 27.3 Corporate reorganization On January 22, 2021, the Extraordinary Shareholders’ Meeting approved the corporate reorganization as detailed in Note 3 27.4 Rumo ’ s debentures issuance On February 3, 2021, Rumo completed its fifteenth issuance of simple, nonconvertible, unsecured debentures, in a total amount of R$ 1,200,000 27.5 Share Buyback Program On February 5, 2021, the Board of Directors approved a new share buyback program for the common shares issued by the Cosan S.A. The maximum number of shares that can be repurchased within the period to 18 10,000,000 27.6 Acquisition of Biosev S.A. by Raízen On February 8, 2021, Raízen entered into an acquisition agreement with Biosev S.A., or “Biosev,” and Hédera Investimentos e Participações S.A., or “Hédera,” in its capacity as the controlling shareholder of Biosev, among other parties, pursuant to which Raízen has agreed, on the terms and subject to the conditions set forth therein, to acquire up to 100 3.5 3,600,000 1.49 Conselho Administrativo de Defesa Econômica 27.7 Dividends proposed by Compass Gás e Energia On February 9, 2021, the Board of Directors of the subsidiary Compass Gás e Energia approved the distribution of interim dividends in the amount of R$ 200,000 27.8. Ordinary general meeting of Cosan S.A. On April 30, 2021 at Cosan S.A. ordinary general meeting, the shareholders approved a share split at a ratio of one four 468,517,733 1,874,070,932 |
Recent accounting developments
Recent accounting developments adopted by the Company | 12 Months Ended |
Dec. 31, 2020 | |
Recent accounting developments adopted by the Company [abstract] | |
Recent accounting developments adopted by the Company | 28. Recent accounting developments adopted by the Company Applicable standard Key requirements Impact Interest Rate Benchmark Reform (Phase 1) Amendments to IFRS 9, IAS 39 and IFRS 7 The amendments modified specific hedge accounting requirements so entities can continue to forecast future cash flows assuming that the interest rate benchmark continue despite ongoing reviews of interest rate benchmark reform. As a result there is no requirement for an entity to discontinue hedge relationships or to reassess the economic relationships between hedged items and hedging instruments as a result of the uncertainties of the interest rate benchmark reform. We do not have significant derivatives that refer to an interest rate benchmark, so these amendments have not had a material impact in the Company. COVID-19 − Related Rent Concessions (Amendment to IFRS 16) Under the practical expedient, lessees are not required to assess whether eligible rent concessions are lease modifications, and instead are permitted to account for them as if they were not lease modifications. Rent concessions are eligible for the practical expedient if they occur as a direct consequence of the COVID-19 pandemic and if all of the following criteria are met: • • • The amendment is effective for annual periods beginning on or after June 1, 2020. There has been no change in the consideration for the leases that we are both lessees and lessors. All other standards or amendments to standards that have been issued by the IASB and were effective by January 1, 2020 were not applicable or material to the Company. |
New standards and interpretatio
New standards and interpretations not yet effective | 12 Months Ended |
Dec. 31, 2020 | |
New standards and interpretations not yet effective [abstract] | |
New standards and interpretations not yet effective | 29 New standards and interpretations not yet effective The following new standards, interpretations and amendments were issued by the IASB, but are not effective for annual periods beginning after January 1, 2020. Although early adoption is permitted, the Company did not adopt them in advance in the preparation of these consolidated financial statements. In addition, based on an initial review the Company does not currently believe adoption of the following standard/amendments will have a material impact on the consolidated profit or loss or financial position of the Company. Applicable standard Key requirements or changes in accounting policy Interest Rate Benchmark Reform (Phase 2 Amendments to IFRS 9 39 7 4 16 Effective from the year ended 31 December 2021 The amendments are applicable when an existing interest rate benchmark is replaced by another interest rate benchmark. The amendments provide a practical expedient that modifications to asset and liability values as a direct consequence of the interest rate benchmark reform and made on an economically equivalent basis (i.e. where the basis for determining contractual cash flows is the same), can be accounted for by only updating the effective interest rate. Additionally, hedge accounting is not discontinued solely because of the replacement of another interest rate benchmark. Hedging relationships (and related documentation) must instead be amended to reflect modifications to the hedged item, hedging instrument and hedged risk. IFRS 17 Effective from the year ended December 31, 2023 This standard introduces a new model for accounting for insurance contracts. Work continues to review existing arrangements to determine the impact on adoption. All other standards or amendments to standards that have been issued by the IASB and are effective from January 1, 2021 onwards are not applicable or material to the Company. |
Accounting policies (Policies)
Accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Functional and presentation currency | 5.1 Functional and presentation currency The consolidated financial statements are presented in Brazilian reais Transactions in foreign currencies are translated to the respective functional currencies of each subsidiary using the exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency using the exchange rate at the reporting date. The assets and liabilities derived from foreign operations, including goodwill and fair value adjustments arising on acquisition, are translated to Brazilian reais using the exchange rates at the reporting date. Income and expenses of foreign operations are translated to Brazilian Reais using the exchange rates at the dates of the transactions. Foreign currency translation is recognized and presented in other comprehensive income in equity. However, if the foreign operation is a non-wholly owned subsidiary, then the relevant proportion of the translation difference is allocated to non-controlling interests. When a foreign operation is disposed of such that control, significant influence or joint control is lost, the cumulative amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal. These consolidated financial statements have been translated to the Brazilian real using the following criteria: a) assets and liabilities have been translated using the exchange rate at the statement of financial position date; b) statement of profit or loss, comprehensive income and statement of cash flows have been translated using the monthly average exchange rate; and c) shareholders’ equity has been translated using the historical exchange rate. Translation effects have been recognized in shareholders’ equity in “Foreign currency translation effects.” The following tables set forth the exchange rate, expressed in reais per U.S. dollar, British pound and Euro for the periods indicated, as reported by the Brazilian Central Bank: Currency December 31, 2020 December 31, 2019 December 31, 2018 U.S. dollar (U.S.$) 5.197 4.031 3.875 British pound (£) 7.101 5.325 4.962 Euro (€) 6.378 4.531 4.439 All amounts have been rounded to the nearest thousand, unless otherwise indicated. |
Use of judgments and estimates | 5.2 Use of judgments and estimates In preparing these consolidated financial statements, Management has made judgments and estimates that affect the application of the Company’s accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Those estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable and relevant under the circumstances. Estimates and underlying assumptions are reviewed on an ongoing basis and recognized prospectively. Information about critical judgments, assumptions and estimation uncertainties in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following notes: Note 7.3 Note 7.10 Note 11 Notes 10.1 10.2 Note 13 Note 15 Note 17 Note 18 Note 25 Note 26 |
Accounting policies (Tables)
Accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Schedule of Exchange Rates of Real for Functional Currencies of Subsidiaries | The following tables set forth the exchange rate, expressed in reais per U.S. dollar, British pound and Euro for the periods indicated, as reported by the Brazilian Central Bank: Currency December 31, 2020 December 31, 2019 December 31, 2018 U.S. dollar (U.S.$) 5.197 4.031 3.875 British pound (£) 7.101 5.325 4.962 Euro (€) 6.378 4.531 4.439 |
Segment information (Tables)
Segment information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Selected information by segment | December 31, 2020 Reported segments Reconciliation Raízen Raízen Combustíveis Gas and Moove Logistics Cosan Deconsolidated Segment elimination Brazil Argentina Consolidated Statement of profit or loss Gross sales 33,198,096 79,748,342 14,886,280 12,024,615 5,588,754 7,349,804 880 ( 127,832,718 ) ( 37,887 ) 24,926,166 Domestic market ( i ) 23,153,941 79,748,342 14,886,280 12,024,615 5,117,770 6,978,624 880 ( 117,788,563 ) ( 37,887 ) 24,084,002 External market ( i ) 10,044,155 — — — 470,984 371,180 — ( 10,044,155 ) — 842,164 Net sales 31,661,546 76,387,354 10,000,822 9,093,170 4,415,575 6,966,159 818 ( 118,049,722 ) ( 37,887 ) 20,437,835 Cost of sales ( 28,207,626 ) ( 73,450,143 ) ( 9,142,729 ) ( 6,434,190 ) ( 3,380,304 ) ( 4,721,507 ) ( 3,611 ) 110,800,498 37,887 ( 14,501,725 ) Gross profit 3,453,920 2,937,211 858,093 2,658,980 1,035,271 2,244,652 ( 2,793 ) ( 7,249,224 ) — 5,936,110 Selling expenses ( 1,119,878 ) ( 1,413,556 ) ( 731,322 ) ( 454,131 ) ( 471,829 ) ( 30,670 ) ( 2,516 ) 3,264,756 — ( 959,146 ) General and administrative expenses ( 647,492 ) ( 437,681 ) ( 178,560 ) ( 577,474 ) ( 229,672 ) ( 411,336 ) ( 572,196 ) 1,263,733 — ( 1,790,678 ) Other expenses, net 161,236 263,271 129,619 56,176 34,876 128,388 ( 42,571 ) ( 554,126 ) — 176,869 Interest in earnings of associates — ( 88,323 ) — — — 13,087 1,746,969 88,323 ( 1,731,255 ) 28,801 Interest in earnings of joint ventures ( 86,630 ) ( 937 ) — — — — 583,001 87,567 — 583,001 Finance results, net ( 1,023,562 ) ( 204,275 ) ( 203,430 ) ( 282,773 ) ( 129,342 ) ( 1,503,221 ) ( 68,660 ) 1,431,267 — ( 1,983,996 ) Finance expense ( 1,610,586 ) ( 619,403 ) ( 115,782 ) ( 374,252 ) ( 30,910 ) ( 2,920,241 ) ( 1,402,158 ) 2,345,771 — ( 4,727,561 ) Finance income 391,308 263,493 35,877 72,500 20,086 177,206 137,918 ( 690,678 ) — 407,710 Foreign exchange, net ( 603,224 ) ( 3,154,960 ) ( 63,278 ) ( 150,227 ) ( 161,636 ) ( 1,577,342 ) ( 1,369,451 ) 3,821,462 — ( 3,258,656 ) Derivatives 798,940 3,306,595 ( 60,247 ) 169,206 43,118 2,817,156 2,565,031 ( 4,045,288 ) — 5,594,511 Income taxes ( 211,932 ) ( 362,349 ) 37,277 ( 460,312 ) ( 87,941 ) ( 169,990 ) 215,576 537,004 — ( 502,667 ) Profit (loss) for the year 525,662 693,361 ( 88,323 ) 940,466 151,363 270,910 1,856,810 ( 1,130,700 ) ( 1,731,255 ) 1,488,294 Profit (loss) attributable to: Owners of the Company 503,120 666,379 ( 88,323 ) 923,420 104,570 43,602 1,519,145 ( 1,081,176 ) ( 1,731,255 ) 859,482 Non-controlling interests 22,542 26,982 — 17,046 46,793 227,308 337,665 ( 49,524 ) — 628,812 525,662 693,361 ( 88,323 ) 940,466 151,363 270,910 1,856,810 ( 1,130,700 ) ( 1,731,255 ) 1,488,294 Other select data Depreciation and amortization 4,092,682 306,142 660,415 500,714 108,687 1,715,527 15,926 ( 5,059,239 ) — 2,340,854 EBITDA 5,853,838 1,566,127 738,245 2,184,265 477,333 3,659,648 1,725,820 ( 8,158,210 ) ( 1,731,255 ) 6,315,811 Additions to PP&E, intangible and contract asset 2,669,052 229,473 260,890 1,006,881 29,658 2,979,213 18,936 ( 3,159,415 ) — 4,034,688 Reconciliation of EBITDA Profit (loss) for the year 525,662 693,361 ( 88,323 ) 940,466 151,363 270,910 1,856,810 ( 1,130,700 ) ( 1,731,255 ) 1,488,294 Income taxes 211,932 362,349 ( 37,277 ) 460,312 87,941 169,990 ( 215,576 ) ( 537,004 ) — 502,667 Finance results, net 1,023,562 204,275 203,430 282,773 129,342 1,503,221 68,660 ( 1,431,267 ) — 1,983,996 Depreciation and amortization 4,092,682 306,142 660,415 500,714 108,687 1,715,527 15,926 ( 5,059,239 ) — 2,340,854 EBITDA 5,853,838 1,566,127 738,245 2,184,265 477,333 3,659,648 1,725,820 ( 8,158,210 ) ( 1,731,255 ) 6,315,811 (i) Domestic markets: sales within the countries where each entity is located; external markets: sales export. December 31, 2019 Reported segments Reconciliation Raízen Raízen Combustíveis Gas and Moove Logistics Cosan Deconsolidated Segment Brazil Argentina Consolidated Statement of profit or loss Gross sales 30,458,300 92,116,093 17,655,659 12,007,634 5,072,163 7,473,730 106 ( 140,230,052 ) ( 37,047 ) 24,516,586 Domestic market ( i ) 24,180,375 90,619,697 17,655,659 12,007,634 4,948,678 7,232,158 106 ( 132,455,731 ) ( 37,047 ) 24,151,529 External market ( i ) 6,277,925 1,496,396 — — 123,485 241,572 — ( 7,774,321 ) — 365,057 Net sales 28,835,309 87,946,233 12,567,921 9,514,222 4,046,296 7,087,840 98 ( 129,349,463 ) ( 37,047 ) 20,611,409 Cost of sales ( 26,951,969 ) ( 84,137,215 ) ( 11,340,151 ) ( 6,402,338 ) ( 3,185,745 ) ( 4,608,781 ) ( 416 ) 122,429,335 37,047 ( 14,160,233 ) Gross profit 1,883,340 3,809,018 1,227,770 3,111,884 860,551 2,479,059 ( 318 ) ( 6,920,128 ) — 6,451,176 Selling expenses ( 866,330 ) ( 1,489,100 ) ( 713,874 ) ( 614,492 ) ( 492,482 ) ( 6,983 ) ( 8,909 ) 3,069,304 — ( 1,122,866 ) General and administrative expenses ( 621,843 ) ( 486,149 ) ( 124,674 ) ( 404,441 ) ( 173,212 ) ( 364,555 ) ( 293,854 ) 1,232,666 — ( 1,236,062 ) Other expenses, net 136,695 1,810,364 73,942 ( 31,534 ) 31,806 ( 24,084 ) 428,498 ( 2,021,001 ) — 404,686 Interest in earnings of associates — 115,168 — — 439 21,876 2,822,914 ( 115,168 ) ( 2,843,998 ) 1,231 Interest in earnings of joint ventures ( 12,179 ) 4,973 — — — — 1,131,406 7,206 — 1,131,406 Finance results, net ( 759,350 ) ( 216,381 ) ( 320,506 ) ( 180,381 ) ( 96,794 ) ( 1,197,817 ) ( 492,631 ) 1,296,237 — ( 1,967,623 ) Finance expense ( 1,449,680 ) ( 649,509 ) ( 81,237 ) ( 495,958 ) ( 38,514 ) ( 1,871,221 ) ( 1,284,885 ) 2,180,426 — ( 3,690,578 ) Finance income 471,581 268,801 26,954 315,634 22,385 202,875 433,710 ( 767,336 ) — 974,604 Foreign exchange, net ( 36,107 ) ( 259,014 ) ( 276,256 ) ( 27,518 ) ( 92,989 ) ( 205,839 ) ( 200,600 ) 571,377 — ( 526,946 ) Derivatives 254,856 423,341 10,033 27,461 12,324 676,368 559,144 ( 688,230 ) — 1,275,297 Income taxes 117,371 ( 1,013,037 ) ( 27,490 ) ( 588,389 ) ( 55,206 ) ( 129,247 ) ( 6,754 ) 923,156 — ( 779,596 ) Profit from continuing operations ( 122,296 ) 2,534,856 115,168 1,292,647 75,102 778,249 3,580,352 ( 2,527,728 ) ( 2,843,998 ) 2,882,352 Profit (loss) from discontinued operation, net of tax — — — — — — 11,021 — — 11,021 Profit (loss) for the year ( 122,296 ) 2,534,856 115,168 1,292,647 75,102 778,249 3,591,373 ( 2,527,728 ) ( 2,843,998 ) 2,893,373 Profit (loss) attributable to: Owners of the Company ( 183,784 ) 2,467,692 115,168 1,255,369 72,971 157,216 3,586,632 ( 2,399,076 ) ( 3,755,847 ) 1,316,341 Non-controlling interests 61,488 67,164 — 37,278 2,131 621,033 4,741 ( 128,652 ) 911,849 1,577,032 ( 122,296 ) 2,534,856 115,168 1,292,647 75,102 778,249 3,591,373 ( 2,527,728 ) ( 2,843,998 ) 2,893,373 Other select data Depreciation and amortization 2,833,200 284,952 507,702 459,584 97,827 1,716,185 14,281 ( 3,625,854 ) — 2,287,877 EBITDA 3,352,883 4,049,226 970,866 2,521,001 324,929 3,821,498 4,094,018 ( 8,372,975 ) ( 2,843,998 ) 7,917,448 Additions to PP&E, intangible 2,902,907 339,987 343,367 775,769 32,854 1,943,063 11,251 ( 3,586,261 ) — 2,762,937 Reconciliation of EBITDA Profit (loss) for the year ( 122,296 ) 2,534,856 115,168 1,292,647 75,102 778,249 3,580,352 ( 2,527,728 ) ( 2,843,998 ) 2,882,352 Income taxes ( 117,371 ) 1,013,037 27,490 588,389 55,206 129,247 6,754 ( 923,156 ) — 779,596 Finance results, net 759,350 216,381 320,506 180,381 96,794 1,197,817 492,631 ( 1,296,237 ) — 1,967,623 Depreciation and amortization 2,833,200 284,952 507,702 459,584 97,827 1,716,185 14,281 ( 3,625,854 ) — 2,287,877 EBITDA 3,352,883 4,049,226 970,866 2,521,001 324,929 3,821,498 4,094,018 ( 8,372,975 ) ( 2,843,998 ) 7,917,448 (i) December 31, 2018 Reported segments Reconciliation Raízen Raízen Combustíveis Gas and Moove Logistics Cosan Deconsolidated Segment Brazil Argentina Consolidated Statement of profit or loss Gross sales 21,296,564 85,793,511 4,497,337 8,695,208 4,381,188 6,889,477 — ( 111,587,412 ) ( 40,128 ) 19,925,745 Domestic market ( i ) 16,271,074 83,350,683 4,497,337 8,695,208 4,242,819 6,889,177 — ( 104,119,094 ) ( 40,128 ) 19,787,076 External market ( i ) 5,025,490 2,442,828 — — 138,369 300 — ( 7,468,318 ) — 138,669 Net sales 19,798,546 81,960,154 3,243,937 6,840,011 3,449,949 6,584,937 ( 1 ) ( 105,002,637 ) ( 40,128 ) 16,834,768 Cost of sales ( 18,136,443 ) ( 78,223,747 ) ( 3,074,701 ) ( 4,901,715 ) ( 2,781,084 ) ( 4,465,634 ) — 99,434,891 40,128 ( 12,108,305 ) Gross profit 1,662,103 3,736,407 169,236 1,938,296 668,865 2,119,303 ( 1 ( 5,567,746 ) — 4,726,463 Selling expenses ( 768,831 ) ( 1,378,292 ) ( 128,443 ) ( 613,046 ) ( 393,317 ) ( 12,871 ) — 2,275,566 — ( 1,019,234 ) General and administrative expenses ( 664,690 ) ( 479,848 ) ( 46,400 ) ( 367,670 ) ( 132,336 ) ( 301,698 ) ( 173,836 ) 1,190,938 — ( 975,540 ) Other expenses, net 570,343 455,250 11,566 763,608 2,393 ( 65,303 ) 46,584 ( 1,037,159 ) — 747,282 Interest in earnings of associates — ( 9,954 ) — — ( 349 ) 10,179 2,119,282 9,954 ( 2,084,046 ) 45,066 Interest in earnings of joint ventures 22,139 1 — — — — 946,282 ( 22,140 ) — 946,282 Finance results, net ( 318,335 ) ( 445,909 ) ( 7,692 ) 78,773 ( 27,279 ) ( 1,208,820 ) ( 441,096 ) 771,936 — ( 1,598,422 ) Finance expense ( 968,066 ) ( 460,734 ) ( 12,818 ) ( 504,071 ) ( 35,157 ) ( 1,518,156 ) ( 779,379 ) 1,441,618 — ( 2,836,763 ) Finance income 583,546 206,718 5,686 581,181 9,928 224,531 216,518 ( 795,950 ) — 1,032,158 Foreign exchange, net ( 90,780 ) ( 763,008 ) ( 560 ) ( 93,780 ) ( 26,875 ) ( 668,064 ) ( 763,647 ) 854,348 — ( 1,552,366 ) Derivatives 156,965 571,115 — 95,443 24,825 752,869 885,412 ( 728,080 ) — 1,758,549 Income taxes 9,007 ( 443,136 ) ( 8,221 ) ( 540,995 ) ( 49,439 ) ( 268,439 ) 98,386 442,350 — ( 760,487 ) Profit from continuing operations 511,736 1,434,519 ( 9,954 ) 1,258,966 68,538 272,351 2,595,601 ( 1,936,301 ) ( 2,084,046 ) 2,111,410 Profit (loss) from discontinued operation, net of tax — — — — — — ( 28,230 ) — — ( 28,230 ) Profit (loss) for the year 511,736 1,434,519 ( 9,954 ) 1,258,966 68,538 272,351 2,567,371 ( 1,936,301 ) ( 2,084,046 ) 2,083,180 Profit (loss) attributable to: Owners of the Company 507,580 1,386,361 ( 9,954 ) 1,008,190 67,882 54,114 2,562,278 ( 1,883,987 ) ( 2,717,016 ) 975,448 Non-controlling interests 4,156 48,158 — 250,776 656 218,237 5,093 ( 52,314 ) 632,970 1,107,732 511,736 1,434,519 ( 9,954 ) 1,258,966 68,538 272,351 2,567,371 ( 1,936,301 ) ( 2,084,046 ) 2,083,180 Other select data Depreciation and amortization 2,147,455 191,114 76,140 464,517 91,972 1,491,306 4,029 ( 2,414,709 ) — 2,051,824 EBITDA 2,968,519 2,514,678 82,099 2,185,705 237,228 3,240,916 2,942,340 ( 5,565,296 ) ( 2,084,046 ) 6,522,143 Additions to PP&E, intangible and contract asset 2,571,359 51,424 343,367 531,739 47,346 1,996,746 52,322 ( 2,966,150 ) — 2,628,153 Reconciliation of EBITDA Profit (loss) for the year 511,736 1,434,519 ( 9,954 ) 1,258,966 68,538 272,351 2,595,601 ( 1,936,301 ) ( 2,084,046 ) 2,111,410 Income taxes ( 9,007 ) 443,136 8,221 540,995 49,439 268,439 ( 98,386 ) ( 442,350 ) — 760,487 Finance results, net 318,335 445,909 7,692 ( 78,773 ) 27,279 1,208,820 441,096 ( 771,936 ) — 1,598,422 Depreciation and amortization 2,147,455 191,114 76,140 464,517 91,972 1,491,306 4,029 ( 2,414,709 ) — 2,051,824 EBITDA 2,968,519 2,514,678 82,099 2,185,705 237,228 3,240,916 2,942,340 ( 5,565,296 ) ( 2,084,046 ) 6,522,143 (i) December 31, 2020 Reported segments Reconciliation Raízen Raízen Combustíveis Gas and Moove Logistics Cosan Deconsolidated Segment Brazil Argentina Consolidated Statement of financial position Assets 44,981,452 25,923,490 7,344,448 15,027,675 4,439,453 45,912,604 33,324,494 ( 78,249,390 ) ( 14,990,661 ) 83,713,565 Cash and cash equivalents 2,293,506 752,369 396,039 1,899,533 936,345 7,778,612 3,028,428 ( 3,441,914 ) — 13,642,918 Marketable securities — — — 1,188,625 168,066 1,396,723 915,695 — — 3,669,109 Trade receivables 1,835,656 2,070,824 358,816 1,121,612 483,227 428,492 110 ( 4,265,296 ) — 2,033,441 Derivative financial instruments 4,904,580 2,835,980 — 517,181 28,463 3,988,524 3,606,532 ( 7,740,560 ) — 8,140,700 Inventories 3,975,086 3,068,435 1,274,045 121,064 564,836 249,318 46 ( 8,317,566 ) — 935,264 Sector financial assets — — — 241,749 — — — — — 241,749 Other financial assets 160,600 — — — 69,126 — — ( 160,600 ) — 69,126 Other current assets 4,862,274 3,526,980 769,740 276,139 146,166 685,659 1,938,096 ( 9,158,994 ) ( 764,392 ) 2,281,668 Other non-current assets 5,374,084 2,247,516 61,018 169,905 398,796 2,613,480 1,566,428 ( 7,682,618 ) ( 410,191 ) 4,338,418 Investments in associates — 3,299,738 356 — — 50,715 14,149,214 ( 3,300,094 ) ( 13,816,078 ) 383,851 Investments in joint ventures 536,540 769,252 — — — — 7,988,208 ( 1,305,792 ) — 7,988,208 Biological assets 1,073,582 — — — — — — ( 1,073,582 ) — — Contract asset — 2,241,618 95,840 686,690 9,248 — — ( 2,337,458 ) — 695,938 Right-of-use assets 4,698,238 86,737 425,391 19,865 39,550 7,823,401 33,414 ( 5,210,366 ) — 7,916,230 Property, plant and equipment 11,667,442 2,544,094 3,953,982 15,326 327,535 13,646,248 79,397 ( 18,165,518 ) — 14,068,506 Intangible assets and goodwill 3,599,864 2,479,947 9,221 8,769,986 1,268,095 7,251,432 18,926 ( 6,089,032 ) — 17,308,439 Liabilities ( 34,923,572 ) ( 19,568,358 ) ( 4,044,354 ) ( 11,681,752 ) ( 2,473,884 ) ( 32,359,866 ) ( 17,553,779 ) 58,536,284 1,174,583 ( 62,894,698 ) Loans, borrowings and debentures ( 17,516,886 ) ( 6,258,929 ) ( 781,703 ) ( 7,043,909 ) ( 802,938 ) ( 21,656,908 ) ( 12,745,705 ) 24,557,518 — ( 42,249,460 ) Derivative financial instruments ( 4,502,866 ) ( 246,237 ) ( 15,155 ) ( 286,018 ) ( 348 ) — ( 159,695 ) 4,764,258 — ( 446,061 ) Trade payables ( 3,244,436 ) ( 5,203,174 ) ( 863,672 ) ( 1,182,111 ) ( 688,139 ) ( 754,546 ) ( 5,258 ) 9,311,282 — ( 2,630,054 ) Employee benefits payable ( 383,114 ) ( 85,993 ) ( 65,269 ) ( 74,543 ) ( 96,192 ) ( 139,058 ) ( 26,673 ) 534,376 — ( 336,466 ) Sector financial liabilities — — — ( 565,911 ) — — — — — ( 565,911 ) Other current liabilities ( 3,014,286 ) ( 2,729,837 ) ( 1,186,505 ) ( 662,779 ) ( 290,827 ) ( 950,582 ) ( 2,006,371 ) 6,930,628 204,366 ( 3,706,193 ) Preferred shareholders payable in subsidiaries — — — — — — ( 387,044 ) — — ( 387,044 ) Leases ( 4,246,196 ) ( 101,500 ) ( 387,074 ) ( 10,320 ) ( 41,299 ) ( 2,912,317 ) ( 37,911 ) 4,734,770 — ( 3,001,847 ) Other non-current liabilities ( 2,015,788 ) ( 4,942,688 ) ( 744,976 ) ( 1,856,161 ) ( 554,141 ) ( 5,946,455 ) ( 2,185,122 ) 7,703,452 970,217 ( 9,571,662 ) Total assets (net of liabilities) allocated by segment 10,057,880 6,355,132 3,300,094 3,345,923 1,965,569 13,552,738 15,770,715 ( 19,713,106 ) ( 13,816,078 ) 20,818,867 Equity attributable to: Owners of the Company 9,967,891 6,075,393 3,300,094 3,288,315 1,367,157 2,150,052 12,270,637 ( 19,343,378 ) ( 13,816,078 ) 5,260,083 Non-controlling interests 89,989 279,739 — 57,608 598,412 11,402,686 3,500,078 ( 369,728 ) — 15,558,784 Total shareholders’ equity 10,057,880 6,355,132 3,300,094 3,345,923 1,965,569 13,552,738 15,770,715 ( 19,713,106 ) ( 13,816,078 ) 20,818,867 December 31, 2019 Reported segments Reconciliation Raízen Raízen Combustíveis Gas and Moove Logistics Cosan Deconsolidated Segment Brazil Argentina Consolidated Statement of financial position Assets 42,843,360 24,252,100 6,549,006 12,038,100 3,499,109 32,838,038 31,055,233 ( 73,644,466 ) ( 13,712,606 ) 65,717,874 Cash and cash equivalents 2,715,055 1,036,151 266,309 1,083,410 610,605 1,963,018 4,815,241 ( 4,017,515 ) — 8,472,274 Marketable securities — — — 200,233 43,856 1,751,853 1,119,561 — — 3,115,503 Trade receivables 1,135,079 2,455,365 442,204 987,397 427,714 399,249 34 ( 4,032,648 ) — 1,814,394 Derivative financial instruments 2,139,240 911,874 5,164 374,730 17,005 1,624,023 1,808,652 ( 3,056,278 ) — 3,824,410 Inventories 4,592,428 3,007,893 1,099,632 89,586 449,211 248,456 69 ( 8,699,953 ) — 787,322 Other financial assets 602,542 — — — 134,636 — 17,127 ( 602,542 ) — 151,763 Other current assets 7,125,332 3,506,579 872,413 315,744 165,070 604,988 1,307,712 ( 11,504,324 ) ( 789,265 ) 1,604,249 Other non-current assets 4,196,166 2,014,958 24,095 90,662 150,683 2,638,286 1,562,823 ( 6,235,219 ) ( 488,228 ) 3,954,226 Investments in associates — 2,612,576 276 — 365 52,012 12,760,443 ( 2,612,852 ) ( 12,435,113 ) 377,707 Investments in joint ventures 577,008 727,936 — — — — 7,548,960 ( 1,304,944 ) — 7,548,960 Biological asset 734,495 — — — — — — ( 734,495 ) — — Contract asset — 2,736,589 48,985 594,602 5,939 — — ( 2,785,574 ) — 600,541 Right-of-use assets 4,017,503 97,374 476,251 10,128 22,592 4,410,952 26,058 ( 4,591,128 ) — 4,469,730 Property, plant and equipment 11,342,326 2,595,878 3,304,040 — 310,007 11,770,168 72,961 ( 17,242,244 ) — 12,153,136 Intangible assets and goodwill 3,666,186 2,548,927 9,637 8,291,608 1,161,426 7,375,033 15,592 ( 6,224,750 ) — 16,843,659 Liabilities ( 32,407,587 ) ( 19,173,669 ) ( 3,936,154 ) ( 9,151,581 ) ( 1,911,413 ) ( 24,222,467 ) ( 15,469,425 ) 55,517,410 1,277,493 ( 49,477,393 ) Loans, borrowings and debentures ( 15,653,705 ) ( 5,745,735 ) ( 912,807 ) ( 5,244,942 ) ( 670,263 ) ( 11,720,477 ) ( 11,416,533 ) 22,312,247 — ( 29,052,215 ) Derivative financial instruments ( 1,422,923 ) ( 325,018 ) — — ( 1,801 ) ( 482 ) ( 78,768 ) 1,747,941 — ( 81,051 ) Trade payables ( 5,101,474 ) ( 2,568,885 ) ( 943,789 ) ( 1,154,206 ) ( 515,759 ) ( 513,325 ) ( 6,974 ) 8,614,148 — ( 2,190,264 ) Employee benefits payable ( 360,414 ) ( 77,692 ) ( 48,752 ) ( 59,928 ) ( 70,068 ) ( 216,685 ) ( 34,656 ) 486,858 — ( 381,337 ) Other current liabilities ( 4,317,609 ) ( 5,859,807 ) ( 856,185 ) ( 683,555 ) ( 217,705 ) ( 711,305 ) ( 1,113,182 ) 11,033,601 471,621 ( 2,254,126 ) Preferred shareholders payable in subsidiaries — — — — — — ( 611,537 ) — — ( 611,537 ) Leases ( 3,504,501 ) ( 103,807 ) ( 439,860 ) ( 10,843 ) ( 27,431 ) ( 4,529,139 ) ( 27,475 ) 4,048,168 — ( 4,594,888 ) Other non-current liabilities ( 2,046,961 ) ( 4,492,725 ) ( 734,761 ) ( 1,998,107 ) ( 408,386 ) ( 6,531,054 ) ( 2,180,300 ) 7,274,447 805,872 ( 10,311,975 ) Total assets (net of liabilities) allocated by segment 10,435,773 5,078,431 2,612,852 2,886,519 1,587,696 8,615,571 15,585,808 ( 18,127,056 ) ( 12,435,113 ) 16,240,481 Equity attributable to: Owners of the Company 10,358,052 4,808,076 2,612,852 2,861,954 1,107,136 1,746,668 5,401,865 ( 17,778,980 ) ( 5,715,758 ) 5,401,865 Non-controlling interests 77,721 270,355 — 24,565 480,560 6,868,903 10,183,943 ( 348,076 ) ( 6,719,355 ) 10,838,616 Total shareholders’ equity 10,435,773 5,078,431 2,612,852 2,886,519 1,587,696 8,615,571 15,585,808 ( 18,127,056 ) ( 12,435,113 ) 16,240,481 |
Summary of net sales by customer by segment | December 31, December 31, December 31, Reported segment Raízen Energia Ethanol 12,372,878 11,388,766 8,569,437 Sugar 10,241,141 3,925,499 3,670,749 Gas 1,655,484 2,967,137 758,572 Diesel 4,626,749 6,469,695 3,314,377 Cogeneration 2,282,158 3,934,639 2,836,658 Other 483,136 149,573 648,753 31,661,546 28,835,309 19,798,546 Raízen Combustíveis Fuels 85,342,742 99,000,662 84,031,837 Other 1,045,434 1,513,492 1,172,254 86,388,176 100,514,154 85,204,091 Gas and Energy Natural gas distribution Industrial 5,030,738 6,045,600 4,411,737 Residential 1,381,597 1,295,107 986,073 Cogeneration 389,732 437,327 315,925 Automotive 220,130 350,637 262,813 Commercial 350,760 507,550 387,069 Construction revenue 885,630 813,341 415,753 Other 59,104 64,660 60,641 8,317,691 9,514,222 6,840,011 Electricity trading 775,479 — — 9,093,170 9,514,222 6,840,011 Moove Finished goods 3,891,551 3,786,636 3,096,658 Base oil 392,153 194,353 317,878 Services 131,871 65,307 35,413 4,415,575 4,046,296 3,449,949 Logistics North operations 5,270,436 5,313,757 4,913,437 South operations 1,409,872 1,478,314 1,412,300 Container operations 285,851 295,769 259,200 6,966,159 7,087,840 6,584,937 Reconciliation Cosan Corporate 818 98 ( 1 ) Deconsolidated ( 118,087,609 ) ( 129,386,510 ) ( 105,042,765 ) Total 20,437,835 20,611,409 16,834,768 |
Summary of Information on Geographical Area | Net sales Non-current assets December 31, December 31, December 31, December 31, December 31, Brazil 18,100,012 18,522,108 14,720,088 12,577,376 8,238,016 Europe ( i ) 1,867,284 1,719,262 1,836,739 11,401 71,689 Latin America (ii) 360,798 184,981 157,287 — — North America 62,760 157,665 55,549 24,684 23,140 Asia and other 46,981 27,393 65,105 — — Total 20,437,835 20,611,409 16,834,768 12,613,461 8,332,845 Main countries: (i) England, France, Spain and Portugal; and (ii) Argentina, Bolivia, Uruguay and Paraguay. |
Financial assets and liabilit_2
Financial assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial assets and liabilities | |
Summary of Carrying Amount of Financial Assets and Liabilities | December 31, 2020 December 31, 2019 Note Assets Fair value through profit or loss Cash and cash equivalents 7.1 2,155,446 3,279,170 Marketable securities 7.2 3,669,109 3,115,503 Other financial assets 69,126 151,763 Derivate financial instruments 7.9 8,140,700 3,824,410 14,034,381 10,370,846 Amortized cost Cash and cash equivalents 7.1 11,487,472 5,193,104 Trade receivables 7.3 2,033,441 1,814,394 Receivables from related parties 7.4 929,690 173,341 Sector financial assets 15 241,749 — Dividend receivable 80,755 23,252 14,773,107 7,204,091 Total assets 28,807,488 17,574,937 Liabilities Amortized cost Loans, borrowings and debentures 7.5 ( 23,393,880 ) ( 12,682,049 ) Leases 7.6 ( 3,001,847 ) ( 4,594,888 ) Trade payables 7.7 ( 2,630,054 ) ( 2,190,264 ) Other financial liabilities ( 594,188 ) ( 543,879 ) Payables to related parties 7.4 ( 307,080 ) ( 392,458 ) Railroad concession payable 14 ( 1,154,919 ) — Preferred shareholders payable in subsidiaries 7.8 ( 387,044 ) ( 611,537 ) Dividends payable ( 1,413,222 ) ( 214,104 ) Sector financial liabilities 15 ( 565,911 ) — Tax installments - REFIS 16 ( 202,377 ) ( 213,360 ) ( 33,650,522 ) ( 21,442,539 ) Fair value through profit or loss Loans, borrowings and debentures 7.5 ( 18,855,580 ) ( 16,370,166 ) Consideration payable ( 224,787 ) ( 184,370 ) Derivative financial instruments 7.9 ( 446,061 ) ( 81,051 ) ( 19,526,428 ) ( 16,635,587 ) Total liabilities ( 53,176,950 ) ( 38,078,126 ) |
Summary of Cash and Cash Equivalents | December 31, 2020 December 31, 2019 Cash and bank accounts 4,134,074 363,084 Savings account 986,379 885,740 Financial investments 8,522,465 7,223,450 13,642,918 8,472,274 |
Summary of Financial Investments | Financial investments include the following: December 31, 2020 December 31, 2019 Investment fund Repurchase agreements 1,672,688 2,799,706 Bank certificate of deposits 475,213 479,464 Other 7,545 — 2,155,446 3,279,170 Bank investments Repurchase agreements 1,293,833 1,400,735 Bank certificate of deposits 5,015,244 2,340,125 Other 57,942 203,420 6,367,019 3,944,280 8,522,465 7,223,450 |
Summary of marketable securities and restricted cash | December 31, 2020 December 31, 2019 Marketable securities Government security (i) 3,543,886 2,719,630 CDB 116,963 125,413 Repurchase agreements 8,260 270,460 3,669,109 3,115,503 Restricted cash Investments linked to loans — 86,681 Securities pledged as collateral 34,562 61,229 34,562 147,910 (i) Government securities have stated interest connected to Special System for Settlement and Custody ( Sistema Especial de Liquidação e de Custódia two and five years |
Summary of Trade Receivables | December 31, 2020 December 31, 2019 Domestic – Brazilian reais 1,432,805 1,251,828 Export – foreign currency 68,867 60,401 Unbilled receivables (i) 667,793 622,572 2,169,465 1,934,801 Expected credit losses (ii) ( 136,024 ) ( 120,407 ) 2,033,441 1,814,394 Current 2,007,140 1,786,095 Non-current 26,301 28,299 2,033,441 1,814,394 (i) Accrued unbilled revenue based on estimated amounts of natural gas and electricity delivered but not yet billed to customers. See accounting policy in Note 21 (ii) Of the total recognized, the amount of R$ 14,000 19 pandemic, as detailed in Note 2.1 |
Summary of Ageing analysis of Trade Receivables | The aging of trade receivables is as follows: December 31, 2020 December 31, 2019 Not overdue 1,814,202 1,552,912 Overdue: From 1 30 166,467 175,112 From 31 60 23,169 32,925 From 61 90 14,156 36,337 More than 90 151,471 137,515 Expected credit losses ( 136,024 ) ( 120,407 ) 2,033,441 1,814,394 |
Summary of Changes in Allowance for Doubtful Accounts | Changes in the expected credit losses are as follows: At January 1, 2019 ( 125,584 ) Provision / reversal ( 32,041 ) Write-off 37,218 At December 31, 2019 ( 120,407 ) Provision / reversal ( 39,187 ) Write-off 23,570 At December 31, 2020 ( 136,024 ) |
Summary of Receivables from and Payables to Related Parties | a) Summary of balances with related parties December 31, 2020 December 31, 2019 Current assets Corporate / agreement operations Raízen Energia (i) 73,913 50,296 Aguassanta Participações S.A. 837 444 Raízen Combustíveis (i) 11,171 7,588 Other 17,171 291 103,092 58,619 Financial operations Aguassanta Participações S.A. (ii) 576,957 — 576,957 — Total current assets 680,049 58,619 Non-current assets Corporate / agreement operations Raízen Combustíveis (i) 45,895 36,410 Other 48,571 — 94,466 36,410 Preferred shares Raízen Energia (i) 155,175 78,304 Janus Brasil Participações S.A. — 8 155,175 78,312 Total non-current assets 249,641 114,722 Total assets 929,690 173,341 Current liabilities Corporate / agreement operations Raízen Energia (i) 146,722 262,612 Raízen Combustíveis (i) 154,366 127,773 Other 1,158 2,073 302,246 392,458 Financial operations Raízen Energia 4,834 — 4,834 — Total liabilities 307,080 392,458 (i) Current and non-current assets receivable from Raízen Energia and Raízen Combustíveis are, primarily, tax credits which will be reimbursed to the Company when realized. The preferred shares are used to Raízen reimburse Cosan, with preferential dividends, when the net operating loss is consumed in Raízen. Current liabilities represent reimburse to Raízen Energia and Raízen Combustíveis related to expenses regarding legal disputes and other liabilities, generated before the formation of joint ventures, which are responsibility of Cosan S.A. (ii) On December 11, 2020, the Company disposal 13,021,744 shares that were held in treasury to S.A. (“ ”) paid on January 8, 2021. |
Summary of Related Party Transactions | b) Related party transactions December 31, 2020 December 31, 2019 December 31, 2018 Revenue Raízen International Universal Corporation 5,143 — — Raízen Energia 483,934 298,980 304,648 Raízen Combustíveis 186,359 221,369 188,895 Other 268 7,010 15,117 675,704 527,359 508,660 Purchase of goods / inputs / services Raízen Energia ( 6,160 ) ( 7,010 ) ( 3,672 ) Raízen Combustíveis ( 1,130,531 ) ( 1,240,781 ) ( 1,205,231 ) Other ( 939 ) — — ( 1,137,630 ) ( 1,247,791 ) ( 1,208,903 ) Shared expense Raízen Energia ( 81,018 ) ( 71,978 ) ( 73,105 ) ( 81,018 ) ( 71,978 ) ( 73,105 ) Financial result Usina Santa Luiza S.A. — ( 41 ) ( 241 ) Raízen Energia 4 — 4,100 Raízen Combustíveis 6,341 5,729 — Other 47 ( 5 ) 2,879 6,392 5,683 6,738 Total ( 536,552 ) ( 786,727 ) ( 766,610 ) |
Summary of Officers' and Directors' Compensation | December 31, 2020 December 31, 2019 December 31, 2018 Short-term benefits to officers and directors 102,250 88,440 86,810 Share-based payment transactions 15,441 16,823 11,423 Post-employment benefits 1,045 728 2,216 118,736 105,991 100,449 |
Summary of Carrying Amounts of Loans, Borrowings and Debentures | Annual December 31, 2020 December 31, 2019 Description Index Maturity Objective Secured BNDES TJLP 5.09 — 1,667 Jun-2023 Investment URTJLP 6.63 3,321,839 2,213,704 Dec-2029 Investment Fixed 5.61 647,435 834,039 Jan-2025 Investment TJ462 + 1.80% 7.89 — 144,573 Oct-2020 Investment TJLP + 2.00% 7.09 — 83,174 Jun-2023 Investment Selic + 1.80% 5.52 — 73,540 Oct-2020 Investment Selic 3.52 — 1,118 Sep- 2020 Investment Selic + 1.96% 5.68 — 52,031 Jun-2023 Investment IPCA 7.46 796 1,528 Nov-2021 Investment URTJLP 10.34 396 4,952 Mar- 2022 Investment Fixed 3.50 1,077 1,426 Jan-2024 Investment IPCA + 3.25% 7.75 807,438 — Apr-2029 Investment IPCA + 4.10% 8.64 175,374 — Apr-2029 Investment Export credit agreement Euribor + 0.58% 0.58 104,108 79,528 Sep-2026 Investment European investment bank U.S.$ + 3.88% 3.88 — 31,770 Jun-2020 Investment U .S.$ + 2.94 2.94 — 29,081 Sep-2020 Investment U.S.$ + Libor 6-month + 0.54% 0.80 30,817 71,129 May-2021 Investment U.S.$ + Libor 6-month + 0.61% 0.89 57,813 89,336 Sep-2021 Investment 5,147,093 3,712,596 Unsecured Foreign loans GBP + Libor 6-month + 1.50% 1.68 143,039 150,253 Jul-2021 Acquisition GBP | Fixed 1.40 35,556 — Nov-2022 Acquisition GBP + Libor 6-month + 1.10% 1.21 142,091 106,643 Dec-2021 Acquisition GBP + Libor 6-month + 1.50% 1.53 248,666 186,604 Dec-2022 Acquisition EUR | Fixed 1.16 2,095 3,561 Sep-2022 Investment Export credit notes CDI + 1.03% 3.12 82,185 — Feb-2023 Investment CDI + 0.80% 2.72 505,061 512,078 Dec-2023 Investment CDI + 3.05% 5.01 208,464 — Mar-2021 Investment CDI + 3.15% 5.11 468,516 — Mar-2021 Investment Resolution 4,131 U.S.$ + Libor 2.90 — 81,107 Feb-2020 Working capital U.S.$ 4.79 — 20,688 Oct-2020 Working capital U.S.$ | Fixed 1.60 483,625 217,537 Nov-2022 Working capital CDI 4.60 206,908 — Apr-2021 Working capital U.S.$ + 3.67% 3.67 415,232 313,493 May-2023 Investment U.S.$ + 1.59% 1.59 388,912 — Apr-2021 Investment Banking credit certificates IPCA + 0.81% 5.31 239,068 — Jan-2048 Working capital Perpetual Notes U.S.$ 8.25 2,631,100 2,040,752 Nov-2040 Acquisition Senior Notes Due 2023 U.S.$ | Fixed 5.00 569,466 438,985 Mar-2023 Acquisition Senior Notes Due 2024 U.S.$ | Fixed 7.38 4,514,289 3,318,895 Feb-2024 Acquisition Senior Notes Due 2024 U.S.$ | Fixed 5.95 1,232,844 903,636 Sep-2024 Acquisition Senior Notes Due 2025 U.S.$ | Fixed 5.88 3,067,359 2,182,089 Jan-2025 Acquisition Senior Notes Due 2027 U.S.$ | Fixed 7.00 4,379,812 3,234,648 Jan-2027 Acquisition Senior Notes Due 2028 U.S.$ | Fixed 5.25 2,640,840 — Jan-2028 Acquisition Senior Notes Due 2029 U.S.$ | Fixed 5.50 3,932,483 3,071,052 Sep-2029 Acquisition Prepayment Libor 3-month + 3.50% 3.75 27,129 — Mar-2021 Working capital Libor 3-month + 1.00% 1.21 104,318 80,931 Nov-2021 Working capital Libor 12-month + 0.76% 2.72 — 40,474 Oct-2020 Working capital Bank overdrafts 125% of CDI 5.53 4,318 740 Feb-2021 Working capital Debentures 106% of CDI 2.94 — 1,727,459 Feb-2021 Working capital IPCA +4.68% 9.24 595,847 570,098 Feb-2026 Investment IPCA +4.50% 9.06 739,202 668,034 Feb-2029 Investment IPCA +5.57% 7.29 — 108,133 Sep-2020 Investment CDI + 2.65% 4.60 1,740,551 — Aug-2025 Investment IPCA + 6.80% 11.46 803,745 — Apr-2030 Investment IPCA + 3.90% 8.43 1,025,777 895,249 Oct-2029 Investment IPCA + 4.00% 8.53 255,501 219,466 Oct-2029 Investment IPCA + 7.14% 9.40 — 318,412 Dec-2020 Investment IPCA + 7.48% 12.17 299,524 286,271 Dec-2022 Investment IPCA + 7.36% 12.04 97,956 94,367 Dec-2025 Investment IPCA + 5.87% 10.49 890,658 859,996 Dec-2023 Investment IPCA + 4.33% 8.88 452,457 431,817 Oct-2024 Investment IGPM + 6.10% 31.46 298,706 240,900 May-2028 Investment CDI + 0.50% 2.41 2,007,848 2,015,251 Oct-2022 Investment Working capital CDI + 2.75% 4.70 100,045 — Jun-2022 Working capital Promissory notes CDI + 3.00% 4.96 601,058 — Apr-2021 Investment CDI + 3.40% 5.36 520,116 — Apr-2021 Investment 37,102,367 25,339,619 Total 42,249,460 29,052,215 Current 4,929,069 3,518,225 Non-current 37,320,391 25,533,990 |
Summary of Non-current Borrowings | Non-current borrowings are scheduled to fall due as follows: December 31, 2020 December 31, 2019 13 24 3,759,874 1,813,849 25 36 3,667,857 3,240,861 37 48 7,480,137 2,294,198 49 60 4,298,007 5,032,388 61 72 640,000 2,520,671 73 84 5,427,729 456,983 85 96 4,023,694 3,821,149 Thereafter 8,023,093 6,353,891 37,320,391 25,533,990 |
Summary of carrying amounts of loans, borrowings and debentures are denominated by currencies | The carrying amounts of loans, borrowings and debentures are denominated in the following currencies: December 31, 2020 December 31, 2019 Brazilian reais 17,022,405 12,360,023 U.S. dollar 24,551,500 16,165,603 British pound 569,352 443,500 Euro 106,203 83,089 42,249,460 29,052,215 |
Schedule of movements in loans, borrowings and debentures | Below are the movements in loans, borrowings and debentures occurred for the year ended December 31, 2020: At January 1, 2019 22,574,313 Proceeds 9,352,123 Repayment of principal ( 4,422,026 ) Payment of interest ( 1,384,184 ) Interest, exchange rate and fair value 2,931,989 At December 31, 2019 29,052,215 Proceeds 10,336,257 Repayment of principal ( 3,397,060 ) Payment of interest ( 1,782,976 ) Interest, exchange rate and fair value 8,041,024 At December 31, 2020 42,249,460 |
Schedule Required to Comply Financial Covenants | Under the terms of the major borrowing facilities, the Company is required to comply with the following financial covenants: Debt Triggers Ratios BNDES - Comgás Net debt ( i ) ( ii) 4.00 1.69 Resolution 4,131 Promissory note Debentures of 5 th 8 th Debenture of 4 th Short-term indebtedness/Total indebtedness (iii) 0.6 0.26 Senior Notes Due 2027 Net debt pro forma (iv) pro forma ( ii) | (iv) 3.5 2.55 Senior Notes Due 2024 3.08 Senior Notes Due 2029 Senior Notes Due 2024 Net debt ( i ) ( ii) 3.3 1.96 Senior Notes Due 2025 BNDES – Rumo EBITDA ( ii) ( v) 2.0 4.78 (i) Net debt consists of current and non-current debt, net of cash and cash equivalents and marketable securities recorded in these consolidated financial statements. Net debt is a non-GAAP measure. (ii) Corresponds to the accumulated EBITDA of the last twelve (iii) Indebtedness means the sum of current and noncurrent loans, financing and debentures, leases and current and noncurrent derivative financial instruments. (iv) Net debt and EBITDA pro forma , including joint ventures financial information. Net debt and EBITDA pro forma (v) The consolidated financial result of the debt is represented by the cost of the consolidated net debt. |
Summary of lease liabilities | The balance sheet shows the following amounts relating to lease liabilities: At January 1, 2019 2,023,309 Additions 2,777,275 Interest 512,964 Transfer between liabilities (i) ( 117,428 ) Repayment of principal ( 423,283 ) Payment of interest ( 249,325 ) Monetary adjustment 71,376 At December 31, 2019 4,594,888 Additions 3,531,470 Interest 606,529 Transfer between liabilities (i) ( 111,737 ) Repayment of principal ( 5,424,917 ) Payment of interest ( 500,922 Monetary adjustment 306,536 At December 31, 2020 3,001,847 Current 531,410 Non-current 2,470,437 (i) Transfer of railroad concession payable to lease (Note 14 ). |
Summary of impacts on income during the year that were recorded for other lease agreements that were not included in the measurement of lease liabilities | December 31, 2020 December 31, 2019 Variable lease payments not included in the measurement of lease liabilities 24,045 10,691 Expenses relating to short-term leases 34,101 37,143 Expenses relating to leases of low-value assets excluding short-term leases of low-value assets 1,547 348 59,693 48,182 |
Summary of carrying amounts of trade payables | December 31, 2020 December 31, 2019 Materials and service suppliers 1,675,553 1,356,978 Natural gas and transportation suppliers 780,141 815,798 Electricity and transportation suppliers 141,418 — Fuels and lubricants suppliers 727 370 Other 32,215 17,118 2,630,054 2,190,264 |
Summary of movement of the obligation with preferred shareholders | Below the movement of the obligation with preferred shareholders: At January 1, 2019 1,097,490 Dividend distribution ( 535,832 Monetary adjustment 49,879 At December 31, 2019 611,537 Dividend distribution ( 240,786 ) Monetary adjustment 16,293 At December 31, 2020 387,044 |
Summary of Derivative Financial Instruments | The impact of the hedging instruments on the consolidated statement of financial position is, as follows: Notional Fair value December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Electricity derivatives Commodity forwards (i) 1,354,967 — ( 189,423 ) — Exchange rate derivatives Forward agreements 1,656,489 1,542,535 ( 10,227 ) ( 30,784 ) Commodity forwards (ii) 13,422 — ( 348 ) — 1,669,911 1,542,535 ( 10,575 ) ( 30,784 ) Interest rate and exchange rate risk Swap agreements (shares) (iii) 600,000 — 79,950 — Swap agreements (inflation and interest rate) (iv) 2,229,136 — 408,867 — Swap agreements (interest rate) 3,399,997 2,633,796 755,355 692,642 Swap agreements (exchange and interest rate) 10,405,896 10,888,474 6,650,465 3,081,501 16,635,029 13,522,270 7,894,637 3,774,143 Total financial instruments 7,694,639 3,743,359 Assets 8,140,700 3,824,410 Liabilities ( 446,061 ) ( 81,051 ) (i) Notional amounts in U.S. dollars are converted into Brazilian reais |
Summary of designated as hedging instruments | The values related to the items designated as hedging instruments were as follows: Accumulated fair value Book value December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Notional Loans, financing and debentures Designated items Debenture 3 rd 3 rd — — ( 108,133 ) 575 ( 14,822 ) Debenture 5 th 684,501 ( 890,658 ) ( 859,996 ) ( 22,040 ) ( 90,110 ) Debenture (Rumo) 1,129,136 ( 1,281,278 ) ( 1,114,715 ) ( 239,437 ) ( 10,164 ) Senior notes 2023 519,670 ( 569,466 ) ( 438,985 ) ( 237,050 ) ( 99,541 ) Senior notes 2024 2,405,595 ( 4,514,289 ) ( 3,318,895 ) ( 959,017 ) ( 471,159 ) Senior notes 2025 1,740,550 ( 3,067,359 ) ( 2,182,089 ) ( 779,581 ) ( 295,208 ) Senior notes 2024 1,039,340 ( 1,232,844 ) ( 903,636 ) ( 18,357 ) ( 865,908 ) Debt 7,518,792 ( 11,555,894 ) ( 8,926,449 ) ( 2,254,907 ) ( 1,846,912 ) Derivative financial instruments Hedge instruments Debenture 3 rd 3 rd — — 24,842 862 5,510 Debenture 5 th ( 684,501 ) 211,741 175,262 10,731 88,583 Debenture (Rumo) ( 1,154,964 ) 176,693 — 183,595 — Senior swaps note 2023 ( 519,670 ) 392,899 418,340 ( 42,532 ) 128,357 Senior swaps note 2024 ( 2,405,595 ) 2,118,028 989,022 1,021,045 340,265 Senior swaps note 2025 ( 1,740,550 ) 1,341,379 479,481 825,015 201,679 Senior swaps note 2024 ( 1,039,340 ) 463,502 2,156,068 ( 78,913 ) 805,312 Derivative ( 7,544,620 ) 4,704,242 4,243,015 1,919,803 1,569,706 Total ( 25,828 ) ( 6,851,652 ) ( 4,683,434 ) ( 335,104 ) ( 277,206 ) |
Summary of Market Value of Senior Notes that are listed on Luxembourg Stock Exchange | The market values of the Senior Notes are listed on the Luxembourg Stock Exchange (Note 7.5 Company December 31, 2020 December 31, 2019 Senior notes 2023 Cosan Luxembourg S.A. 101.02 101.46 Senior notes 2024 Rumo Luxembourg S.à r.l. 104.17 107.90 Senior notes 2024 Cosan Limited 103.22 105.18 Senior notes 2025 Rumo Luxembourg S.à r.l. 105.96 107.27 Senior notes 2027 Cosan Luxembourg S.A. 108.20 109.18 Senior notes 2028 Rumo Luxembourg S.à r.l. 108.75 — Senior notes 2029 Cosan Limited 110.05 104.48 Perpetual notes Cosan Luxembourg S.A. 102.88 104.06 |
Summary of carrying amounts and fair value of financial assets and financial liabilities | The carrying amounts and fair value of financial assets and financial liabilities are as follows: Carrying amount Assets and liabilities measured at fair value December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Note Level 1 Level 2 Level 1 Level 2 Level 3 Assets Investment funds 7.1 2,155,446 3,279,170 — 2,155,446 — 3,279,170 — Marketable securities 7.2 3,669,109 3,115,503 — 3,669,109 — 3,115,503 — Other financial assets 69,126 151,763 69,126 — 151,763 — — Derivate financial instruments 7.9 8,140,700 3,824,410 — 8,140,700 — 3,824,410 — Total 14,034,381 10,370,846 69,126 13,965,255 151,763 10,219,083 — Liabilities Loans, borrowings and debentures 7.5 ( 18,855,580 ) ( 16,370,166 ) — ( 18,855,580 ) — ( 16,370,166 ) — Consideration payable ( i ) ( 224,787 ) ( 184,370 ) — ( 224,787 ) — ( 158,251 ) ( 26,119 ) Derivative financial instruments 7.9 ( 446,061 ) ( 81,051 ) — ( 446,061 ) — ( 81,051 ) — Total ( 19,526,428 ) ( 16,635,587 ) — ( 19,526,428 ) — ( 16,609,468 ) ( 26,119 ) (i) In 2019 , the consideration payable related to the contingent variable consideration payable of was considered level 3 , however the nature of the calculation has changed. In 2020 , the Company reviewed the fair value hierarchy, and the contingent is now framed as level 2 . |
Schedule of exposure to financial risks | Risk Exposure arising from Measurement Management Market risk – foreign exchange (i) Future commercial transactions. (ii) Recognized financial assets and liabilities not denominated in Brazilian reais. (i) Cash flow forecasting (ii) Sensitivity analysis Foreign currency. Market risk – interest rate Cash and cash equivalents, marketable securities, loans, borrowings and debentures, leases and derivatives. (i) Sensitivity analysis Interest rate Swap. Market risk - prices (i) Future commercial transactions. (i) Cash flow forecasting (ii) Sensitivity analysis Future electric energy price (purchase and sale). Credit risk Cash and cash equivalents, marketable securities, restricted cash, trade receivables, derivatives, receivables from related parties and dividends. (i) Aging analysis (ii) Credit ratings Diversification of bank deposits, credit limits and letters of credit. Liquidity risk Loans, borrowings and debentures, trade payables, other financial liabilities, tax installments, leases, derivatives, payables to related parties and dividends. (i) Rolling cash flow forecasts Availability of committed credit lines and borrowing facilities. |
Schedule of net exposure to the exchange rate variations on assets and liabilities denominated in U.S. dollar and Euro | Net exposure to the exchange rate variations on assets and liabilities denominated in U.S. dollar, British pound December 31, 2020 December 31, 2019 Cash and cash equivalents 2,995,284 901,718 Trade receivables 24,619 22,771 Trade payables ( 229,750 ) ( 86,732 ) Loans, borrowings and debentures ( 25,227,055 ) ( 16,245,131 ) Leases ( 99,217 ) ( 65,348 ) Contingent consideration ( 224,787 ) ( 184,370 ) Derivative financial instruments 17,981,375 13,621,791 Foreign exchange exposure, net ( 4,779,531 ) ( 2,035,301 ) |
Summary of Sensitivity Analysis on Changes in Foreign Exchange Rates Impact on Profit Loss | Variation scenario Instrument Risk factor Probable 25 50 ( 25 ( 50 Cash and cash equivalents Currency fluctuation ( 290,188 ) 886,269 2,062,728 ( 1,466,646 ) ( 2,643,104 ) Trade receivables Currency fluctuation 15,860 13,437 11,014 18,284 20,706 Trade payables Currency fluctuation ( 162,557 ) ( 121,918 ) ( 81,278 ) ( 203,196 ) ( 243,836 ) Derivative financial instruments Currency fluctuation 1,781,477 5,366,505 9,335,649 ( 1,772,852 ) ( 5,475,686 ) Loans, borrowings and debentures Currency fluctuation 1,669,049 ( 3,988,858 ) ( 9,578,464 ) 7,190,352 12,779,956 Leases Currency fluctuation 6,619 ( 16,530 ) ( 39,680 ) 29,769 52,918 Contingent consideration Currency fluctuation ( 209,792 ) ( 157,344 ) ( 104,896 ) ( 262,240 ) ( 314,688 ) Impacts on profit or loss 2,810,468 1,981,561 1,605,073 3,533,471 4,176,266 |
Summary of Sensitivity Analysis on Changes in Foreign Exchange Rates | The probable scenario considers the estimated exchange rates, made by a specialized third part, at the due date of the transactions for the companies with functional currency Brazilian reais Exchange rate sensitivity analysis (R$/U.S.$) and (R$/€) December 31, 2020 Scenario Probable 25 50 ( 25 ( 50 U.S.$ 5.1967 4.8500 6.0625 7.2750 3.6375 2.4250 € 6.3779 5.9170 7.3963 8.8755 4.4378 2.9585 |
Summary of sensitivity analysis on interest rates on loans and borrowings which impacts on profit or loss | Variation scenario Exposure interest rate Probable 25 50 ( 25 ( 50 Cash and cash equivalents 217,985 266,883 321,519 158,031 103,535 Marketable securities 82,335 99,172 119,783 58,004 37,420 Consideration asset 63,709 79,636 95,564 47,782 31,854 Restricted cash 811 1,014 1,216 608 405 Leases ( 305,868 ) ( 307,463 ) ( 309,059 ) ( 304,273 ) ( 302,678 ) Railroad concession payable ( 25,755 ) ( 32,222 ) ( 38,690 ) ( 19,403 ) ( 12,935 ) Derivative financial instruments 3,206,385 ( 114,764 ) ( 504,796 ) 768,421 1,270,000 Loans, borrowings and debentures ( 1,655,586 ) ( 933,805 ) ( 1,053,793 ) ( 693,831 ) ( 573,845 ) Other financial liabilities ( 10,548 ) ( 11,884 ) ( 13,220 ) ( 9,213 ) ( 7,877 ) Impacts on profit or loss 1,573,468 ( 953,433 ) ( 1,381,476 ) 6,126 545,879 |
Summary of probable scenario considers the estimated interest rate | The probable scenario considers the estimated interest rate, made by a specialized third party and Central Bank of Brazil ( Banco Central do Brasil Probable 25 50 ( 25 ( 50 SELIC 2.23 2.79 3.35 1.68 1.12 CDI 2.23 2.79 3.35 1.68 1.12 TJLP 462 1 5.70 6.88 8.05 4.53 3.35 TJLP 4.70 5.88 7.05 3.53 2.35 IPCA 3.37 4.21 5.05 2.53 1.68 IGPM 4.34 5.43 6.52 3.26 2.17 Libor 0.48 0.60 0.72 0.36 0.24 Fed Funds 0.15 0.19 0.23 0.11 0.08 |
Schedule of outstanding energy trading operations | Statement of financial position balances referring to outstanding energy trading operations are as follows: December 31, 2020 Assets Liabilities Net loss Electricity trading 96,595 ( 286,017 ( 189,422 |
Schedule of sensitivity analysis on price risk of energy trading operations | Variation scenario Probable 25 50 ( 25 ( 50 Unrealized loss from electricity trading ( 189,423 ) ( 163,920 ) ( 328,798 ) 165,836 330,714 |
Summary of Credit Risk | The exposure to credit risk was as follows: December 31, 2020 December 31, 2019 Cash and cash equivalents 13,642,918 8,472,274 Marketable securities 3,669,109 3,115,503 Trade receivables ( i ) 2,033,441 1,814,394 Derivative financial instruments 8,140,700 3,824,410 Receivables from related parties 929,690 173,341 Dividend receivable 80,755 23,252 Restricted cash 34,562 147,910 28,531,175 17,571,084 (i) On December 31, 2020, the Company had no concentration of credit in consumers greater than 10 % of sales, diluting the risk of default. |
Summary of Credit Risk Rating | December 31, 2020 December 31, 2019 AAA 20,878,272 11,538,846 AA 3,991,846 4,021,251 A+ 617,171 — 25,487,289 15,560,097 |
Summary of financial liabilities by due dates based on undiscounted cash flows contracted | The main financial assets and liabilities of the Company by due dates (based on undiscounted cash flows contracted) are as follows: December 31, 2020 December 31, 2019 Up to 1 1 2 3 5 More than 5 Total Total Loans, borrowings and debentures ( 4,077,288 ) ( 4,458,809 ) ( 16,932,517 ) ( 20,543,562 ) ( 46,012,176 ) ( 43,054,826 ) Trade payables ( 2,629,734 ) — — — ( 2,629,734 ) ( 2,190,264 ) Other financial liabilities ( 562,763 ) — — — ( 562,763 ) ( 543,879 ) Tax installments - REFIS ( 7,548 ) ( 4,574 ) ( 5,912 ) ( 185,188 ) ( 203,222 ) ( 207,416 ) Leases ( 574,156 ) ( 390,726 ) ( 1,075,955 ) ( 12,307,459 ) ( 14,348,296 ) ( 11,666,959 ) Railroad concession payable ( 51,167 ) ( 365,087 ) ( 369,881 ) ( 433,053 ) ( 1,219,188 ) — Derivative financial instruments 413,170 236,776 2,933,974 404,604 3,988,524 4,396,997 Payables to related parties ( 315,433 ) — — — ( 315,433 ) ( 392,458 ) Dividends payable ( 24,238 ) — — — ( 24,238 ) ( 214,104 ) Preferred shareholders payable in subsidiaries — ( 387,044 ) — — ( 387,044 ) ( 611,537 ) ( 7,829,157 ) ( 5,369,464 ) ( 15,450,291 ) ( 33,064,658 ) ( 61,713,570 ) ( 54,484,446 ) |
Other tax receivables (Tables)
Other tax receivables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Other Tax Receivables | December 31, 2020 December 31, 2019 COFINS - Revenue tax (i) 625,174 706,165 ICMS - State VAT 754,749 602,127 ICMS CIAP - State VAT 124,006 141,514 PIS - Revenue tax (i) 136,765 150,099 Credit installment 42,138 41,516 Other 60,206 35,591 1,743,038 1,677,012 Current 785,367 950,246 Non-current 957,671 726,766 (i) In 2020, R$ 75,699 (R$ 28,141 as other income and R$ 43,859 as financial income) was accounted in the Cosan S.A., referring to the credit based on final court decision to exclude the ICMS on PIS and COFINS calculation basis. |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of inventories and written down of inventories | The provision for obsolete inventories is made for the risks associated with the realization and sale of inventories due to obsolescence and measured at the net realizable value or the cost, whichever is less. December 31, 2020 December 31, 2019 Finished goods 560,028 457,447 Spare parts and accessories 219,831 236,347 Raw material 118,319 55,347 Warehouse and other 30,279 31,287 Fuels and lubricants 6,807 6,894 935,264 787,322 |
Investments in associates (Tabl
Investments in associates (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Basis of Consolidation | Cosan’s subsidiaries are listed below: December 31, 2020 December 31, 2019 Directly owned subsidiaries Cosan Logística 73.48 73.49 Cosan S.A. 66.74 64.59 Cosan Limited Partners Brasil Consultoria Ltda. 60.00 60.00 Sinlog Tecnologia em Logística S.A. 64.52 47.62 Interest of Cosan S.A. in its subsidiaries Companhia de Gás de São Paulo – Comgás (i) — 99.15 Compass Gás e Energia 99.01 100.00 Cosan Lubes Investments Limited 70.00 70.00 Cosan Cayman II Limited 100.00 100.00 Cosan Global Limited 100.00 100.00 Cosan Investimentos e Participações S.A. 100.00 100.00 Cosan Luxembourg S.A. (ii) 100.00 100.00 Cosan Overseas Limited 100.00 100.00 Pasadena Empreendimentos e Participações S.A. 100.00 100.00 Payly Soluções de Pagamentos S.A. 75.00 75.00 Rumo S.A. 2.16 1.71 Cosan Logística S.A. 0.10 0.10 Interest of Cosan Lubes Investments Limited in its subsidiaries Moove Lubricants Limited 100.00 100.00 Cosan Cinco S.A. 100.00 100.00 Airport Energy Limited 100.00 100.00 Airport Energy Services Limited 100.00 100.00 Wessesx Petroleum Limited 100.00 100.00 Stanbridge Group Limited 100.00 100.00 Cosan Lubricants España S.L.U. 100.00 100.00 TTA – SAS Techniques et Technologie Appliquées 75.00 75.00 Cosan Lubrificantes S.R.L. 98.00 98.00 LubrigrupoII– Comércio e Distribuição de Lubrificantes S.A. 100.00 100.00 December 31, 2020 December 31, 2020 Comma Oil & Chemicals Marketing SRL 100.00 100.00 Comma Otomotiv Yag Ve Kimyasallari 100.00 100.00 Pazarlama Limited Sirketi 100.00 100.00 Comma Oil & Chemicals Marketing B.V. 100.00 100.00 Commercial Lubricants Moove Corp 100.00 100.00 Cosan Lubrificantes e Especialidades S.A. 100.00 100.00 Cosan US, Inc. 100.00 100.00 Ilha Terminal Distribuição de Produtos Derivados de Petróleo Ltda. 100.00 100.00 Zip Lube S.A. 100.00 100.00 Cosan Paraguay S.A. 100.00 100.00 Interest of Cosan Logística S.A. in its subsidiaries Rumo S.A. 28.19 28.47 Rumo Malha Oeste S.A. 28.47 28.47 Rumo Malha Paulista S.A. 28.47 28.47 Rumo Malha Sul S.A. 28.47 28.47 Rumo Malha Norte S.A. 28.40 28.40 Rumo Malha Central S.A. 28.47 28.47 Elevações Portuárias S.A. 28.47 28.47 Logispot Armazéns Gerais S.A. 14.52 14.52 Rumo Luxembourg S.à r.l. 28.47 28.47 Rumo Intermodal S.A. 28.47 28.47 Boswells S.A. 28.47 28.47 ALL Argentina S.A. 28.47 28.47 Paranaguá S.A. 28.47 28.47 ALL Armazéns Gerais Ltda. 28.47 28.47 Portofer Ltda. 28.47 28.47 ALL Mesopotâmica S.A. 20.09 20.09 ALL Central S.A. 20.94 20.94 Servicios de Inversión Logística Integrales S.A. 28.47 28.47 Brado Logística e Participações S.A. 17.71 17.71 Brado Logística S.A. 17.71 17.71 (i) On January 14, 2020, S.A. contributed the totality of shares held by the Company to the share capital of subsidiary Compass e (See Note 2 (ii) Management has concluded that there are no material uncertainties that cast doubt on the continuity of the subsidiaries. The subsidiaries have the financial support of the Company. |
Summary of Information in Associates of Company and Company's Ownership | Set out below are the associates as of December 31, 2020, which are material to the Company: Shares Shares held Cosan Economic Radar II Propriedades Agrícolas S.A. 81,440,222 24,920,708 51.00 3.00 Radar Propriedades Agrícolas S.A. 1,735,703 531,125 51.00 2.51 Tellus Brasil Participações S.A. 120,920,492 61,359,624 50.74 5.00 Janus Brasil Participações S.A. 136,928,272 69,361,678 50.77 5.00 Interest in Other At January Dividends Capital Other At December 31, 2020 Tellus Brasil Participações S.A. 102,342 6,883 — ( 3,560 ) — — 105,665 Janus Brasil Participações S.A. 126,087 7,591 — ( 3,909 ) 1,132 — 130,901 Radar Propriedades Agrícolas S.A. 59,860 3,512 232 ( 1,233 ) — — 62,372 Radar II Propriedades Agrícolas S.A. 31,975 1,747 45 ( 563 ) — — 33,205 Other 57,443 9,068 ( 37 ) ( 8,187 ) 10 ( 6,587 ) 51,708 377,707 28,801 240 ( 17,452 ) 1,142 ( 6,587 ) 383,851 At January Interest in Sales or Other comprehensive income Dividends Capital Other At December 31, 2019 Tellus Brasil Participações S.A. 101,109 4,667 — — ( 3,434 ) — — 102,342 Novvi Limited Liability Company 13,449 168 — ( 136 ) — — ( 13,481 ) — Janus Brasil Participações S.A. 93,821 5,213 — — ( 4,060 ) 31,113 — 126,087 Radar Propriedades Agrícolas S.A. 59,584 1,475 — 142 ( 1,341 ) — — 59,860 Radar II Propriedades Agrícolas S.A. 32,236 1,528 — 27 ( 1,816 ) — — 31,975 Usina Santa Luiza S.A. 29,209 ( 29,209 ) — — — — — — Other 49,111 17,389 5,655 — ( 8,236 ) — ( 6,476 ) 57,443 378,519 1,231 5,655 33 ( 18,887 ) 31,113 ( 19,957 ) 377,707 |
Summary of Financial Information of Associates | Financial information of associates: December 31, 2020 December 31, 2019 Assets Liabilities Shareholders ’ Profit in Assets Liabilities Shareholders ’ Profit in Radar Propriedades Agrícolas S.A. 2,384,480 ( 334,962 ) 2,049,518 139,781 2,259,440 ( 309,910 ) 1,949,490 58,709 Radar II Propriedades Agrícolas S.A. 863,911 ( 947 ) 862,964 58,239 821,183 ( 19 ) 821,164 50,920 Tellus Brasil Participações Ltda. 2,235,872 ( 169,779 ) 2,066,093 134,441 2,137,559 ( 136,375 ) 2,001,184 91,431 Janus Brasil Participações S.A. 2,764,440 ( 197,906 ) 2,566,534 143,432 2,632,321 ( 160,167 ) 2,472,154 97,652 |
Summary of Non-controlling Interests in Subsidiaries | Set out below is summarized financial information for each subsidiary that has non-controlling interests that are material to the group. The amounts disclosed for each subsidiary are before inter-company elimination. Shares issued by Shares held by Non- Compass Gás e Energia 628,487,690 6,222,650 0.99 Comgás 132,520,587 1,124,363 0.85 Logispot Armazéns Gerais S.A. 2,040,816 1,000,000 49.00 Rumo 1,559,015,898 1,115,164,072 71.53 Brado Logística e Participações S.A. 12,962,963 4,897,407 37.78 Rumo Malha Norte S.A. 1,189,412,363 3,144,187 0.26 CLI 34,963,764 10,489,129 30.00 Cosan S.A. 394,210,000 132,924,458 33.67 Cosan Logística 463,224,241 122,813,171 26.51 Payly Soluções de Pagamentos S.A. 44,861,170 11,215,293 25.00 Sinlog Tecnologia em Logística S.A. 21,000 10,000 47.62 TTA – SAS Techniques et Technologie Appliquées 10,521 2,630 25.00 Cosan Limited Partners Brasil Consultoria Ltda. 10,000 4,000 40.00 The following table summarizes the information relating to each of the Company’s subsidiaries that has material non-controlling interests, before any intra-group elimination. At 2020 Interest in Sales or Other comprehensive income Dividends Capital Other At 2020 Cosan S.A. 3,604,875 336,885 ( 407,177 ) 28,573 ( 68,120 ) — ( 2,207 ) 3,492,829 Cosan Logística 630,185 12,966 14,006 1,006 ( 5 ) — — 658,158 Comgás 24,569 9,200 — 484 ( 9,535 ) — 11 24,729 Compass Gás e Energia — 7,848 30,431 552 ( 5,986 ) — 35 32,880 CLI 470,498 44,816 — 66,970 — — — 582,284 Rumo 6,058,973 212,463 4,424,537 15,786 ( 2,742 ) — — 10,709,017 Logispot Armazéns Gerais S.A. 34,218 1,879 — — ( 584 ) — — 35,513 Other 15,298 2,755 — 6,160 ( 9,566 ) 6,666 2,061 23,374 10,838,616 628,812 4,061,797 119,531 ( 96,538 ) 6,666 ( 100 ) 15,558,784 At 2019 Interest in earnings of subsidiaries Sales or Other comprehensive income Dividends IFRS 16 Capital Other At 2019 Cosan S.A. 3,765,964 988,382 ( 849,033 ) ( 94,672 ) ( 203,977 ) — — ( 1,789 ) 3,604,875 Cosan Logística 630,333 59,016 ( 21,187 ) — — ( 37,370 ) — ( 607 ) 630,185 Comgás 987,358 40,455 ( 972,988 ) ( 560 ) ( 16,969 ) — ( 12,727 ) — 24,569 CLI — 18,715 451,267 516 — — — — 470,498 Rumo 5,929,151 463,594 — 1,930 — ( 340,050 ) — 4,348 6,058,973 Logispot Armazéns Gerais S.A. 34,656 172 — — ( 610 ) — — — 34,218 Other 7,491 6,698 4,567 866 ( 1,859 ) — 789 ( 3,254 15,298 11,354,953 1,577,032 ( 1,387,374 ) ( 91,920 ) ( 223,415 ) ( 377,420 ) ( 11,938 ) ( 1,302 ) 10,838,616 |
Summary of Financial Statements | Summarized statement of financial position: Compass Gás e Energia (i) Comgás Cosan S.A. Sinlog Tecnologia em Logística S.A. Rumo December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Current Assets 402,007 4 4,225,788 2,792,056 3,443,811 5,704,933 5,023 3,616 1,996,914 1,302,485 Liabilities ( 25,404 ) ( 2,614 ) ( 3,610,144 ) ( 2,807,891 ) ( 774,742 ) ( 2,437,233 ) ( 3,340 ) ( 479 ) ( 841,519 ) ( 1,105,899 ) Net current assets 376,603 ( 2,610 ) 615,644 ( 15,835 ) 2,669,069 3,267,700 1,683 3,137 1,155,395 196,586 Non-current Assets 2,944,593 989 6,391,096 9,246,044 16,998,133 15,107,843 14,398 3,081 19,624,672 12,271,883 Liabilities — — ( 6,416,687 ) ( 6,343,690 ) ( 8,819,535 ) ( 7,821,809 ) ( 242 ) — ( 5,796,462 ) ( 4,124,193 ) Net non-current assets 2,944,593 989 ( 25,591 ) 2,902,354 8,178,598 7,286,034 14,156 3,081 13,828,210 8,147,690 Equity 3,321,196 ( 1,621 ) 590,053 2,886,519 10,847,667 10,553,734 15,839 6,218 14,983,605 8,344,276 Parent Company information. Summarized statement of profit or loss and other comprehensive income: Compass Gás e Energia (i) Comgás Cosan S.A. December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 Net sales — — — 8,317,691 9,514,222 6,840,011 — — — Profit before taxes 920,426 ( 2,614 ) — 1,719,877 1,993,963 1,799,963 674,465 2,548,401 1,190,893 Income tax expenses 10,839 889 ( 1 ) ( 569,264 ) ( 626,784 ) ( 540,995 ) 177,394 ( 134,017 ) ( 10,342 ) Profit (loss) for the year 931,265 ( 1,725 ) ( 1 ) 1,150,613 1,367,179 1,258,968 851,859 2,414,384 1,180,551 Other comprehensive income (loss) — — — — — ( 32,300 ) — ( 253,507 ) ( 40,348 ) Total comprehensive income 931,265 ( 1,725 ) ( 1 ) 1,150,613 1,367,179 1,226,668 851,859 2,160,877 1,140,203 Comprehensive income attributable to non-controlling interests 9,220 — — 9,762 10,967 243,835 286,821 765,167 606,490 Dividends paid 600,000 — — 1,135,669 2,010,101 756,767 574,140 389,256 446,295 (i) Parent Company information. Sinlog Tecnologia em Logística S.A. Rumo December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 Net sales 776 95 — 950,269 596,415 645,088 Profit before taxes ( 9,378 ) ( 1,207 ) — 349,300 779,228 285,887 Income tax expenses — — — ( 52,137 ) ( 991 ) ( 21,530 ) Profit (loss) for the year ( 9,378 ) ( 1,207 ) — 297,163 778,237 264,357 Other comprehensive income (loss) — ( 390 ) — — 2,716 11,182 Total comprehensive income ( 9,378 ) ( 1,597 ) — 297,163 780,953 275,539 Comprehensive income attributable to non-controlling interests ( 4,466 ) 2,298 — 212,561 558,616 192,368 Dividends paid — — — — 4,233 3,346 Summarized statements of cash flows: Compass Gás e Energia (i) Comgás Cosan S.A. December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 Net cash (used in) from operating activities ( 19,028 ) — — 2,096,546 2,512,303 1,573,171 ( 489,406 ) 122,639 1,114,880 Net cash from (used in) investing activities 776,872 — — ( 1,768,298 ) 202,037 ( 1,121,605 ) 653,145 3,500,958 1,097,236 Net cash (used in) from financing activities ( 525,030 ) — — 198,890 ( 2,233,548 ) ( 1,576,470 ) ( 2,505,760 ) ( 1,060,967 ) ( 1,428,044 ) Net increase (decrease) in cash and cash equivalents 232,814 — — 527,138 480,792 ( 1,124,904 ) ( 2,342,021 ) 2,562,630 784,072 Cash and cash equivalents at beginning of year 5 5 5 1,083,410 602,618 1,727,522 3,490,707 928,077 144,005 Cash and cash equivalents at end of year 232,819 5 5 1,610,548 1,083,410 602,618 1,149,267 3,490,707 928,077 (i) Parent Company information. Sinlog Tecnologia em Logística S.A. Rumo December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 Net cash (used in) from operating activities ( 6,329 ) ( 1,384 ) — 463,170 197,313 166,085 Net cash from (used in) investing activities ( 2,942 ) ( 106 ) — ( 6,632,353 ) ( 929,861 ) 32,164 Net cash (used in) from financing activities 10,612 5,000 — 7,037,144 1,432,659 ( 198,584 ) Net increase (decrease) in cash and cash equivalents 1,341 3,510 — 867,961 700,111 ( 335 ) Cash and cash equivalents at beginning of year 3,510 — — 700,706 595 930 Cash and cash equivalents at end of year 4,851 3,510 — 1,568,667 700,706 595 |
Schedule of fair value of the assets and liabilities, goodwill acquired at the acquisition date | The fair value of the assets and liabilities acquired is as follows: Compass Compass Compass Total Cash and cash equivalents 4,539 177 37 4,753 Trade receivables 12,384 149,163 — 161,547 Other tax receivable 134 89 31 254 Derivative financial instruments 1,377 — — 1,377 Other current assets 24 28 — 52 Property, plant and equipment 69 — — 69 Trade payables ( 13,585 ) ( 83,669 ) — ( 97,254 ) Other taxes payable — ( 162 ) — ( 162 ) Other liabilities ( 97 — — ( 97 ) Other financial liabilities — ( 48,007 ) — ( 48,007 ) Dividends payable — ( 508 ) — ( 508 ) Payables to related parties — ( 17,063 ) — ( 17,063 ) Deferred tax liabilities ( 468 ) — — ( 468 ) Total identifiable assets, net 4,377 48 68 4,493 The fair value of goodwill at the acquisition date consisted of: Consideration transferred (i) 99,385 Total net assets acquired and liabilities assumed at fair value(-) 4,493 Goodwill 94,892 (i) On July 17, 2020, the Company made an additional payment for the acquisition of Compass Trading in the amount of R $ 4,385 , as provided for in the agreement. |
Investments in joint ventures (
Investments in joint ventures (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investments accounted for using equity method [abstract] | |
Summary of Changes to Investments in Joint Ventures | Changes to investments in joint ventures were as follows: Raízen Combustíveis Raízen Energia Total Shares issued by the joint venture 1,661,418,472 7,243,283,198 Shares held by Cosan 830,709,236 3,621,641,599 Cosan ownership interest 50.00 50.00 At January 1, 2019 3,104,613 4,973,294 8,077,907 Interest in earnings of joint ventures 1,223,557 ( 92,151 ) 1,131,406 Other comprehensive loss ( 4,770 ) ( 192,470 ) ( 197,240 ) Interest on capital ( 63,500 ) — ( 63,500 ) Dividends ( 1,047,299 ) ( 352,314 ) ( 1,399,613 ) At December 31, 2019 3,212,601 4,336,359 7,548,960 Interest in earnings of joint ventures 332,240 250,761 583,001 Other comprehensive income (loss) 376,053 ( 446,001 ) ( 69,948 ) Interest on capital ( 73,388 ) — ( 73,388 ) Dividends — ( 417 ) ( 417 ) At December 31, 2020 3,847,506 4,140,702 7,988,208 |
Property, plant and equipment_2
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Depreciation on Straight-line Basis Over the Estimated Useful life of Assets | Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets as follows: Buildings and improvements 4 5 Machinery, equipment and facilities 8 11 Airplanes, vessels and vehicles 10 20 Railcars 2.9 6 Locomotives 3.3 8 Permanent easement 3 4 Furniture and fixtures 10 15 Computer equipment 20 |
Schedule of Property Plant and Equipment | Land, buildings and improvements Machinery, equipment and facilities Railcars and locomotives ( i ) Permanent Construction in progress Other Total Cost At January 1, 2019 1,113,427 1,043,032 5,263,961 6,127,139 1,054,128 400,767 15,002,454 Additions 125 1,986 29,773 1,802 1,979,943 2,437 2,016,066 Disposals ( 3,634 ) ( 21,474 ) ( 105,592 ) — ( 1,362 ) ( 26,010 ) ( 158,072 ) Transfers (ii) 132,461 205,355 812,130 595,381 ( 1,525,318 ) 59,638 279,647 Effect of exchange rate fluctuations 3,903 3,070 — — 1,634 939 9,546 Discontinued operation ( 59,917 ) ( 68,107 ) — — — ( 3,216 ) ( 131,240 ) At December 31, 2019 1,186,365 1,163,862 6,000,272 6,724,322 1,509,025 434,555 17,018,401 Additions 125 2,528 17,900 1,193 3,303,937 1,113 3,326,796 Disposals ( 576 ) ( 2,113 ) ( 94,689 ) — ( 506 ) ( 24,293 ) ( 122,177 ) Transfers (ii) 370,302 261,705 796,982 645,611 ( 2,008,901 ) 79,088 144,787 Effect of exchange rate fluctuations 21,028 31,252 — — 619 17,593 70,492 At December 31, 2020 1,577,244 1,457,234 6,720,465 7,371,126 2,804,174 508,056 20,438,299 Depreciation At January 1, 2019 ( 300,711 ) ( 440,677 ) ( 1,280,966 ) ( 1,406,964 ) ( 10,842 ) ( 6,067 ) ( 3,446,227 ) Additions ( 72,329 ) ( 135,267 ) ( 632,170 ) ( 611,575 ) — ( 28,758 ) ( 1,480,099 ) Disposals 131 20,287 104,872 6 — 21,383 146,679 Transfers (ii) 3,546 ( 2,884 ) ( 106,525 ) ( 2,234 ) 3,972 ( 18,897 ) ( 123,022 ) Effect of exchange rate fluctuations ( 549 ) ( 672 ) — — — ( 666 ) ( 1,887 ) Discontinued operation 9,478 27,194 — — — 2,619 39,291 At December 31, 2019 ( 360,434 ) ( 532,019 ) ( 1,914,789 ) ( 2,020,767 ) ( 6,870 ) ( 30,386 ) ( 4,865,265 ) Additions ( 60,907 ) ( 138,579 ) ( 566,259 ) ( 517,033 ) ( 2,048 ) ( 34,309 ) ( 1,319,135 ) Disposals 7 1,188 90,668 — — 20,654 112,517 Transfers (ii) ( 75,174 ) ( 38,107 ) ( 59,353 ) 67,841 2,795 ( 19,419 ) ( 121,417 ) Impairment ( 2,811 ) ( 8,898 ) ( 31,405 ) ( 80,340 ) ( 7,256 ) ( 12,308 ) ( 143,018 ) Effect of exchange rate fluctuations ( 8,054 ) ( 15,997 ) — — — ( 9,424 ) ( 33,475 ) At December 31, 2020 ( 507,373 ) ( 732,412 ) ( 2,481,138 ) ( 2,550,299 ) ( 13,379 ) ( 85,192 ) ( 6,369,793 ) At December 31, 2019 825,931 631,843 4,085,483 4,703,555 1,502,155 404,169 12,153,136 At December 31, 2020 1,069,871 724,822 4,239,327 4,820,827 2,790,795 422,864 14,068,506 (i) On December 31, 20 20 201 9 745,203 7 5 (ii) They are substantially transferring from property, plant and equipment under construction as a result of the capitalization of said assets. |
Summary Intangible Assets and Goodwill | Goodwill Concession Operating Trademarks Customer Other Total Cost At January 1, 2019 883,234 17,631,883 435,624 37,877 742,863 370,189 20,101,670 Additions 2,795 12,031 — — 85,438 13,254 113,518 Disposals — ( 67,259 ) — — ( 215 ) ( 8 ) ( 67,482 ) Transfers — 447,863 171 — ( 704 ) 6,263 453,593 Effect of exchange rate fluctuations 18,948 — — 8,293 1,709 ( 1,602 ) 27,348 Discontinued operation — — — — — ( 818 ) ( 818 ) At December 31, 2019 904,977 18,024,518 435,795 46,170 829,091 387,278 20,627,829 Additions 8,167 5,227 — — 111,656 12,149 137,199 Business combination (Note 10.3 94,892 — — — — — 94,892 Disposals — ( 48,442 ) — — ( 131 ) ( 12,474 ) ( 61,047 ) Transfers — 695,140 — ( 5,504 ) 408,470 ( 31,573 ) 1,066,533 Exchange variation 80,684 — — 13,541 75,861 10,919 181,005 At December 31, 2020 1,088,720 18,676,443 435,795 54,207 1,424,947 366,299 22,046,411 Amortization: At January 1, 2019 — ( 2,383,823 ) ( 224,356 ) — ( 314,619 ) ( 206,337 ) ( 3,129,135 ) Additions — ( 515,615 ) ( 11,766 ) ( 9,201 ) ( 95,034 ) ( 33,813 ) ( 665,429 ) Disposals — 14,747 — — 162 8 14,917 Transfers — ( 8 ) — — ( 3,626 ) ( 2,379 ) ( 6,013 ) Effect of exchange rate fluctuations — — — — 2,668 ( 1,761 ) 907 Discontinued operation — — — — — 583 583 At December 31, 2019 — ( 2,884,699 ) ( 236,122 ) ( 9,201 ) ( 410,449 ) ( 243,699 ) ( 3,784,170 ) Additions — ( 490,100 ) ( 11,774 ) — ( 86,162 ) ( 88,988 ) ( 677,024 ) Disposals — 17,030 — — 111 4,817 21,958 Transfers — ( 10 ) — 9,201 ( 390,554 ) 105,459 ( 275,904 ) Effect of exchange rate fluctuations — — — — ( 17,978 ) ( 4,854 ) ( 22,832 ) At December 31, 2020 — ( 3,357,779 ) ( 247,896 ) — ( 905,032 ) ( 227,265 ) ( 4,737,972 ) At December 31, 2019 904,977 15,139,819 199,673 36,969 418,642 143,579 16,843,659 At December 31, 2020 1,088,720 15,318,664 187,899 54,207 519,915 139,034 17,308,439 |
Summary Intangible Assets (Excluding Goodwill) | Intangible assets (excluding goodwill) Annual rate of December 31, 2020 December 31, 2019 Comgás ( i ) Concession term 8,425,014 8,129,822 Rumo (ii) Concession term 6,893,650 7,009,997 15,318,664 15,139,819 Operating license for port terminal 3.70 187,899 199,673 Trademarks: Comma Undefined 54,207 36,969 Customer relationships: Comgás 20.00 210,038 161,786 Moove 6.00 309,877 256,856 519,915 418,642 Other Software license 20.00 86,090 81,669 Other 52,944 61,910 139,034 143,579 Total 16,219,719 15,938,682 (i) Refers to the intangible asset for the public gas distribution service concession, which represents the right to charge users for the supply of gas, comprised of: (i) the concession rights recognized in the business combination and (ii) concession assets. (ii) Refers to the railroad concession right agreement of Rumo. |
Summary of transaction charts of right of use assets | Land, buildings and improvements Machinery, equipment and facilities Freight cars and locomotives Software Vehicles Port and rail infrastructure Total Cost: At January 1, 2019 230,615 11,168 1,286,671 66,931 13,085 842,783 2,451,253 Additions 7,073 3,045 1,004 — 732 2,904,778 2,916,632 Contractual adjustments 9,883 ( 956 ) 712 — 442 54,828 64,909 Transfers 327 ( 2,539 ) ( 249,746 ) — — 1,565 ( 250,393 ) Currency translation adjustments ( 468 ) — — — — — ( 468 ) At December 31, 2019 247,430 10,718 1,038,641 66,931 14,259 3,803,954 5,181,933 Additions 124,014 18,714 864 15,438 — 3,406,560 3,565,590 Contractual adjustments 187 10,397 1,783 — ( 334 ) 251,854 263,887 Transfers — — ( 107,963 ) — — — ( 107,963 ) Currency translation adjustments 9,197 ( 707 ) — — — — 8,490 At December 31, 2020 380,828 39,122 933,325 82,369 13,925 7,462,368 8,911,937 Amortization: At January 1, 2019 ( 50,450 ) ( 2,532 ) ( 462,748 ) — — ( 131,541 ) ( 647,271 ) Additions ( 21,282 ) ( 3,074 ) ( 9,018 ) ( 7,594 ) ( 6,459 ) ( 118,915 ) ( 166,342 ) Transfers ( 7,233 ) 2,532 104,694 — 2 — 99,995 At December 31, 2019 ( 78,965 ) ( 3,074 ) ( 367,072 ) ( 7,594 ) ( 6,457 ) ( 250,456 ) ( 713,618 ) Additions ( 34,977 ) ( 9,527 ) ( 53,413 ) ( 4,940 ) ( 6,572 ) ( 230,057 ) ( 339,486 ) Impairment — — — — — ( 966 ) ( 966 ) Transfers — — 59,745 — — — 59,745 Currency translation adjustments ( 1,888 ) 506 — — — — ( 1,382 ) At December 31, 2020 ( 115,830 ) ( 12,095 ) ( 360,740 ) ( 12,534 ) ( 13,029 ) ( 481,479 ) ( 995,707 ) At December 31, 2019 168,465 7,644 671,569 59,337 7,802 3,553,498 4,468,315 At December 31, 2020 264,998 27,027 572,585 69,835 896 6,980,889 7,916,230 |
Schedule of changes in contract assets | Contract assets are measured at acquisition cost, including capitalized borrowing costs. When the assets come into operation, the depreciable values within the concession agreement are transferred to intangible assets. Comgás reassess useful lives, whenever such assessment indicates that amortization period will exceed concession contract term, a portion of the asset is converted into financial asset as it represents an account receivable from the concession authority. Such classification is in accordance with IFRIC 12 At January 1, 2019 227,260 Additions 819,567 Disposals ( 9,691 ) Transfer to concession rights and customer relationships ( 436,595 ) At December 31, 2019 600,541 Additions 888,939 Disposals — Transfer to concession rights and customer relationships ( 793,542 ) At December 31, 2020 695,938 (i) The amount of the transfers also includes a portion of the intangible asset that was reclassified to a financial asset according to the provisions of IFRIC 12 . |
Concessions payable (Tables)
Concessions payable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Concessions Payable | December 31, 2020 December 31, 2019 Court discussion Rumo Malha Paulista S.A. 101,871 1,870,018 Rumo Malha Oeste S.A. 1,617,764 1,528,238 1,719,635 3,398,256 Railroad concession payable Rumo Malha Paulista S.A. 1,154,919 — Payables Rumo Malha Sul S.A. 84,637 36,621 Rumo Malha Paulista S.A. 24,151 20,003 108,788 56,624 Total 2,983,342 3,454,880 Current 158,705 9,847 Non-current 2,824,637 3,445,033 |
Summary of Judicial Deposits | Judicial deposits at December 31, 20 20 9 December 31, 2020 December 31, 2019 Rumo Malha Paulista S.A. — 119,806 Rumo Malha Oeste S.A. 22,119 21,703 22,119 141,509 |
Schedule of leases and grants related to concession payable | December 31, 2020 December 31, 2019 Lease and concession in dispute Rumo Malha Sul 600,745 532,496 Rumo Malha Paulista 475,647 377,944 Rumo Malha Oeste 179,568 216,096 Elevações Portuárias 76,925 74,584 Portofer 12,463 13,435 1,345,348 1,214,555 Grants ( i ) Rumo Malha Paulista (renewal) 492,222 — Rumo Malha Central S.A. 491,354 2,728,931 983,576 2,728,931 Total 2,328,924 3,943,486 Current 232,212 402,991 Non-current 2,096,712 3,540,495 |
Sector financial asset and li_2
Sector financial asset and liability (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Sector Financial Asset and Liability [Abstract] | |
Schedule of changes in net sector financial asset (liability) | The changes in net sector financial asset (liability) for the year ended December 31, 2020 were as follows: Sectorial Sectorial Total January 1, 2020 — — — Cost of gas 201,346 — 201,346 Credits of taxes (i) — ( 565,911 ) ( 565,911 ) Interest 13,458 — 13,458 Other revenue 26,945 — 26,945 December 31, 2020 241,749 ( 565,911 ) ( 324,162 ) Current 241,749 ( 91,912 ) 149,837 Non-current — ( 473,999 ) ( 473,999 ) (i) PIS and COFINS tax credits on certain operations. |
Other taxes payable (Tables)
Other taxes payable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Other Tax Payable | Accounting policy The Company is subject to taxes, contributions and municipal, state and federal duties, in its respective jurisdictions. December 31, 2020 December 31, 2019 Tax amnesty and refinancing program 202,378 213,360 ICMS – State VAT 198,708 161,254 COFINS – Revenue tax 61,930 84,953 PIS – Revenue tax 16,578 19,426 INSS – 29,515 10,513 ISS – Service tax 1,108 6,753 IOF – Financial tax 873 309 Other 55,254 21,553 566,344 518,121 Current 417,326 363,051 Non-current 149,018 155,070 |
Summary of Amounts Due on Non-Current Liabilities and Maturity Schedule | The amounts due on non-current liabilities present the following maturity schedule: December 31, 2020 December 31, 2019 13 24 7,254 5,654 25 36 3,143 4,936 37 48 1,478 4,486 49 60 691 3,225 61 72 134,151 136,558 73 84 691 48 85 96 691 48 Thereafter 919 115 149,018 155,070 |
Income tax and social contrib_2
Income tax and social contribution (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Schedule of Reconciliation of Income and Social Contribution Tax Expenses | a) Reconciliation of income tax and social contribution expenses December 31, 2020 December 31, 2019 December 31, 2018 Profit before taxes 1,990,961 3,661,948 2,871,897 Income tax and social contribution nominal rate ( 34 ( 676,927 ) ( 1,245,062 ) ( 976,445 ) Adjustments to determine the effective rate Interest in earnings of investees (non-taxable income) 207,940 385,097 337,058 Differences in tax rates on earnings (losses) of overseas companies 19,793 ( 78,026 ) ( 12,423 ) Granted income tax incentive 109,081 178,609 48,541 Share-based payment transactions 9,941 19,986 ( 1,363 ) Interest on shareholders’ equity ( 24,773 ) ( 26,766 ) ( 19,777 ) Non-deductible expenses (donations, gifts, etc.) ( 4,183 ) ( 16,925 ) ( 14,405 ) Tax losses not recorded ( 170,017 ) ( 69,335 ) ( 134,401 ) Goodwill amortization effect 1,271 1,271 1,853 Other 25,207 71,555 10,875 Income tax and social contribution expense - current and deferred ( 502,667 ) ( 779,596 ) ( 760,487 ) Effective rate 25.25 21.29 26.48 |
Summary of Deferred Income Tax Assets and Liabilities | b) Deferred income tax assets and liabilities The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities are presented below: December 31, 2020 December 31, 2019 Assets credits of: Income tax losses 2,574,260 2,136,077 Social contribution losses 929,432 779,252 Temporary differences Regulatory assets — 53,875 Share-based payment transactions 19,129 9,879 Allowance for expected credit losses 31,416 26,969 Profit sharing 41,080 63,987 Tax credit losses 83,833 79,928 Interest on preferred shareholders payable in subsidiaries 167,412 89,931 Post-employment benefits 200,461 214,496 Loss allowances for impairment 226,092 203,057 Provision for legal proceedings 288,967 305,473 Miscellaneous expense allowance 366,224 348,212 Review of useful life of property, plant and equipment 399,537 408,581 Foreign exchange - Loans and borrowings (i) 1,962,892 921,811 Other 242,018 112,240 Total 7,532,753 5,753,768 (-) Deferred taxes assets net not recognized ( 2,318,998 ) ( 2,198,164 ) Liabilities credits of: Temporary differences Fair value option to loans 526,001 174,596 Fair value amortization of the property, plant and equipment ( 2,640 ) 27,666 Leases ( 25,460 ) ( 36,347 ) Tax deductible goodwill (ii) ( 839,939 ) ( 390,249 ) Income on formation of joint ventures ( 1,135,036 ) ( 1,135,036 ) Unrealized gains on derivatives instruments ( 2,206,216 ) ( 923,672 ) Fair value amortization of the intangible asset ( 3,603,568 ) ( 3,663,085 ) Other 282,212 114,525 ( 7,004,646 ) ( 5,831,602 ) Total deferred taxes recorded, net ( 1,790,891 ) ( 2,275,998 ) Deferred tax assets 1,900,241 1,607,566 Deferred tax liabilities ( 3,691,132 ) ( 3,883,564 ) (i) The Company opted for the cash regime for the taxation of the exchange variation on loans and financing for the years ended December 31, 2020. (ii) On January 14, 2020, S.A. contributed to the capital of the Compass e the investment it held in the . As a result, the costs recorded in shareholders' equity, derived from the goodwill paid on the acquisitions of shares in voluntary tender offer occurred during the year 2019 , totaling R$ 1,321,000 capital loss. Associated with this amount, a deferred income tax loss of R$ 449,000 was recorded. On the other hand, deferred income tax liabilities were recorded, canceling the effect of the result in the accounting, to be reversed when the future write-off of said goodwill. |
Summary of Changes in Deferred Tax | c) Changes in deferred income tax Tax loss and negative basis Employee Provisions Post-employment benefits Property, plant and equipment Unregistered credits Other Total Assets At January 1, 2019 2,991,933 56,847 950,991 175,177 277,924 ( 2,104,743 ) 1,072,369 3,240,498 (Charged) / credited to the profit for the year ( 76,604 ) 16,938 12,646 3,809 130,657 ( 118,087 ) ( 5,667 ) ( 36,308 ) Other comprehensive income (loss) — 81 — 35,510 — — ( 22,335 ) 13,256 Exchange differences — — — — — ( 2,827 ) 133,490 130,663 Discontinued operation — — — — — 27,493 — 27,493 At December 31, 2019 2,915,329 73,866 963,637 214,496 408,581 ( 2,198,164 ) 1,177,857 3,555,602 Credited / (charged) to the profit for the year 587,315 ( 13,657 ) ( 1,612 ) 14,958 ( 9,044 ) ( 120,834 ) 113,454 570,580 Other comprehensive income (loss) 1,048 — 34,505 ( 28,993 ) — — 39,930 46,490 Exchange differences — — — — — — 1,041,083 1,041,083 At December 31, 2020 3,503,692 60,209 996,530 200,461 399,537 ( 2,318,998 ) 2,372,324 5,213,755 Effects on the formation of Intangible assets Unrealized Leases Fair value Other Total Liabilities At January 1, 2019 ( 1,135,036 ) ( 3,725,546 ) ( 664,841 ) ( 186,345 ) 57,298 ( 276,644 ) ( 5,931,114 ) Credited / (charged) to the profit for the year — 62,461 ( 258,831 ) 149,999 117,299 28,584 99,512 At December 31, 2019 ( 1,135,036 ) ( 3,663,085 ) ( 923,672 ) ( 36,346 ) 174,597 ( 248,060 ) ( 5,831,602 ) Credited / (charged) to the profit for the year — 59,517 ( 1,282,808 ) 10,667 351,405 ( 311,745 ) ( 1,172,964 ) Other comprehensive income (loss) — — 264 220 — ( 34 ) 450 Business combination — — — — — ( 530 ) ( 530 ) At December 31, 2020 ( 1,135,036 ) ( 3,603,568 ) ( 2,206,216 ) ( 25,459 ) 526,002 ( 560,369 ) ( 7,004,646 ) Total deferred taxes recorded ( 1,790,891 ) |
Provision for legal proceedin_2
Provision for legal proceedings and judicial deposits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Contingent Liabilities | Provision for legal Judicial deposit December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Tax 635,406 589,180 462,197 476,706 Civil, environmental and regulatory 350,769 332,527 140,833 220,932 Labor 374,723 432,464 272,812 245,819 1,360,898 1,354,171 875,842 943,457 |
Summary Changes in Provision for Legal Procedings | Changes in provision for legal proceedings: Tax Civil, Labor Total At January 1, 2019 534,131 362,725 466,312 1,363,168 Provisions 34,962 39,323 83,500 157,785 Settlement / Write-offs ( 28,261 ) ( 117,449 ) ( 149,031 ) ( 294,741 ) Interes t (i) 48,348 47,928 31,683 127,959 At December 31, 2019 589,180 332,527 432,464 1,354,171 Provisions 25,443 46,989 68,049 140,481 Settlement / Write-offs ( 11,947 ) ( 76,772 ) ( 134,071 ) ( 222,790 ) Exchange rate - - 109 109 Interest (i) 32,730 48,025 8,172 88,927 At December 31, 2020 635,406 350,769 374,723 1,360,898 (i) Includes write-off of interest due to reversals. |
Summary of Principal Tax Proceedings for Which Risk of Loss is Probable | (i) The Brazilian federal tax authorities denied applications filed by CLE to set off credits derived from undue payments of FINSOCIAL, a social tax levy, against other federal tax debts. Based on a favorable judicial decision, Mobil acquired the right to set off credits of FINSOCIAL against certain COFINS liabilities. However, a subsequent favorable judicial decision granted CLE immunity against the enforcement of such COFINS-related debts. Therefore, previous set-off applications were canceled, because COFINS liabilities ceased to exist, and CLE sought to use the relevant tax credits to set off other federal tax debts. However, the Brazilian federal tax authorities refused to ratify the set-offs, claiming that the COFINS immunity applied only to the fiscal year during which the lawsuit was filed (i.e., in 1992 296,400 293,291 (ii) The amount provisioned for INSS, among other cases, is represented, essentially, by amounts related to social security contributions levied on billing, pursuant to Article 22 -A of the Law No. 8,212 / 91 , whose constitutionality is being challenged in court. Judicial deposits are made monthly. (iii) The provisioned amounts relating to tax assessments issued against us by the tax authorities related to several types of ICMS credits, including: (a) an assessment notice related to ICMS payments for raw material purchases which are considered for “use and consumption” and therefore, according to the tax authorities, are not eligible for compensation; (b) an assessment, as sole obligor, for allegedly disregarding withholding obligations of ICMS taxes in relation to a tolling agreement, arising from an agricultural partnership between the Company’s sugarcane plants and Central Paulista Ltda. Açúcar e Álcool; (c) an assessment notice related to ICMS payments related to the exportation of crystallized sugar not considered under tributary immunity; (d) assessment notice related to the ICMS under tributary substitution regime; and (e) ICMS assessment notice related to interstate operations taxed as internal transactions and, therefore, subject to a higher rate. No judicial deposits have been made in connection with these proceedings. These provisions amounted to R$ 93,407 97,534 (iv) IPI Selectivity proceedings, from November 1992 to December 1995, judged by the STF, using the General Repercussion method (RE No. 592,145 080 39,407 December 31, 2020 December 31, 2019 Compensation with FINSOCIAL (i) 296,445 293,291 INSS - Social security (ii) 97,928 95,979 State VAT - ICMS credit (iii) 93,743 97,534 IPI - Excise tax credit - NT (iv) 53,697 53,693 Federal income taxes 9,508 1,707 PIS and COFINS 2,304 2,889 Other 81,781 44,087 635,406 589,180 |
Summary of Principal Proceedings for Which Deem Risk of Loss as Possible | (vii) Brazilian federal tax authorities have partially rejected the Company’s application for payment of federal tax debts with carryforward losses, pursuant to the payment plan provided for by provisional measure No. 470 2009 (viii) The legal proceeding related to INSS payment involve the following: (a) the legality and constitutionality questioning Normative Instruction MPS/SRP Nº 03 2005 (ix) The lawsuits related to the IPI essentially involve: (a) Tax requirement on sugar sales subject to zero 99.5 67 98 (x) Tax assessment issued by the Brazilian Tax Authority in 2011 2013 2019 2019 (xi) Tax assessments issued against the Rumo S.A. for the collection of social security contributions ( 20 (xii) Tax assessment notices issued to require additional income tax, social contribution, PIS and COFINS, for the calendar years 2005 2008 (ii) The legal claims related to the ICMS essentially involve: (a) The part related to the fine required in the infraction notices issued for alleged failure to pay ICMS and non-compliance with ancillary obligations, in an agricultural partnership and industrialization operation by order; (b) ICMS levied on exits of crystallized sugar destined for export, benefited by the Tax Immunity, which, in the view of farmers, such a product would be classified as semi-finished goods; (c) tax assessment notices related to the collection of the ICMS rate differential resulting from sales and / or purchases of goods that, after the operations, had their state registrations revoked; (d) ICMS requirement resulting from disallowance of diesel oil credits used in the agro-industrial production process; (e) ICMS requirement arising from alleged inventory differences; (f) ICMS requirement resulting from tax substitution and tax war and (g) payment of FEEF - State Tax Balance Fund (deposit of 10 155 2 88 7,248 2016 45,810 2016 (iii) The possible legal claims related to PIS and COFINS are substantially related to the disallowance of PIS and COFINS credits by the non-cumulative system, provided for in Laws No. 10,637 2002 10,833 2003 (iv) The subsidiary CLE had an assessment notice drawn up for the collection of income tax withheld at source, as a tax officer, due to an alleged capital gain resulting from the acquisition of assets from companies located abroad. (v) The Company was assessed due to the disregard of the tax benefits of REPORTO (PIS and COFINS suspension), on the grounds that the locomotives and freight cars purchased in 2010 50 (vi) Tax claims filed by the Brazilian federal government regarding the tax on industrialized products (Imposto sobre produtos industrializados), or “IPI,” mainly related to: (i) allegedly due as a result of the removal of certain types of sugar from 1995 1997 1992 1997 Three two 99.5 b) Possible losses The principal proceedings for which we deem the risk of loss as possible are described below: December 31, 2020 December 31, 2019 Tax 13,416,966 11,382,113 Civil, environmental and regulatory 5,476,470 5,032,906 Labor 942,352 968,426 19,835,788 17,383,445 Tax December 31, 2020 December 31, 2019 Federal income taxes (i) 4,344,963 3,619,834 ICMS - State VAT (ii) 3,042,710 2,869,089 PIS and COFINS - Revenue taxes (iii) 2,182,933 1,529,885 IRRF - Withholding tax (iv) 1,227,555 1,030,981 Penalties related to tax positions (v) 473,690 483,577 IPI - Excise tax credit - NT (vi) 455,121 451,781 MP 470 (vii) 357,500 304,961 INSS - Social security and other (viii) 226,807 226,857 Compensation with IPI - IN 67 98 (ix) 183,585 181,655 Goodwill (x) 84,953 83,734 Stock option (xi) 63,986 70,072 Foreign financial operation (xii) 29,136 28,701 Financial transactions tax on loan 14,886 53,765 Other 729,141 447,221 13,416,966 11,382,113 (i) The Company and its subsidiaries have (a) assessment notices related to the disallowance of deductions from the amortization of goodwill expense; (b) The subsidiary Comgás was aware of the non-approval of tax debt offsetting carried out in 2015 2016 Imposto de Renda Pessoa Jurídica Contribuição Social sobre o Lucro Líquido Receita Federal do Brasil 50 74 9,430 96 6 13,670 2018 |
Shareholders' equity (Tables)
Shareholders' equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Share Capital | At December 31, 20 20 , Cosan Limited’s share capital is composed of the following : Shareholders Class A common shares % Class B common shares % Total number of shares % Controlling group 33,625,380 23.66 % 96,332,044 100.00 % 129,957,424 54.50 % Renaissance Technologies LLC 5,923,094 4.17 % — 0.00 % 5,923,094 2.48 % Free float 102,567,060 72.17 % — 0.00 % 102,567,060 43.02 % Total of shares 142,115,534 100.00 % 96,332,044 100.00 % 238,447,578 100.00 % |
Summary of Other Comprehensive (Loss) Income | d) O ther comprehensive (loss) income December 31, 2019 Comprehensive (loss) income December 31, 2020 Loss on cash flow hedge ( 790,403 ) ( 526,099 ) ( 1,316,502 ) Foreign currency translation differences 49,281 ( 42,767 ) 6,514 Actuarial loss on defined benefit plan ( 180,958 ) ( 36,813 ) ( 217,771 ) Gain on measurement of financial instrument 15,000 — 15,000 Change in fair value of financial assets 1,277 278 1,555 ( 905,803 ) ( 605,401 ) ( 1,511,204 ) Attributable to: Owners of the Company ( 805,471 ) ( 718,556 ( 1,524,027 Non-controlling interests ( 100,332 ) 113,155 12,823 December 31, 2018 Comprehensive (loss) income December 31, 2019 Loss on cash flow hedge ( 533,917 ) ( 256,486 ) ( 790,403 ) Foreign currency translation differences 21,493 27,788 49,281 Actuarial loss on defined benefit plan ( 99,246 ) ( 81,712 ) ( 180,958 ) Gain on measurement of financial instrument 15,000 — 15,000 Change in fair value of financial assets 1,085 192 1,277 ( 595,585 ) ( 310,218 ) ( 905,803 ) Attributable to: Owners of the Company ( 587,173 ) ( 218,298 ) ( 805,471 ) Non-controlling interests ( 8,412 ) ( 91,920 ) ( 100,332 ) |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Calculation of Earnings per Share | The following table sets forth the calculation of earnings per share (in thousands of Brazilian reais , except per share amounts): December 31, December 31, December 31, Profit attributable to the holders of the Company’s common shares used in the calculation of basic earnings per share 859,482 1,316,341 975,448 Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating basic earnings per share 859,482 1,305,320 1,003,678 Dilutive effect of the share-based plan of subsidiaries ( 5,739 ) ( 5,714 ) ( 2,882 ) Profit attributable to the holders of the Company’s common shares used in the calculation of diluted earnings per share 853,743 1,310,627 972,566 Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating diluted earnings per share 853,743 1,299,606 1,000,796 Weighted average number of outstanding in thousands of shares Basic 223,630 227,560 244,065 Dilutive effect of the share-based plan 6,741 8,530 10,061 Dilutive 230,371 236,090 254,126 Earnings per share Basic R$ 3.8433 R$ 5.7850 R$ 3.9970 Diluted R$ 3.7059 R$ 5.5510 R$ 4.1120 Earnings per share from continuing operations Basic R$ 3.8433 R$ 5.7360 R$ 3.8270 Diluted R$ 3.7059 R$ 5.5050 R$ 3.9500 |
Net sales (Tables)
Net sales (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Analysis of Revenue from Continuing Operations | The following is an analysis of the Company’s net sales for the year: December 31, December 31, December 31, Gross revenue from sales of products and services 24,040,536 23,703,245 19,609,252 Construction revenue 885,630 813,341 415,753 Indirect taxes and deductions ( 4,488,331 ) ( 3,905,177 ) ( 3,190,237 ) Net sales 20,437,835 20,611,409 16,834,768 |
Revenue Disaggregated by Products and Service Lines and Timing of Revenue Recognition | In the following table, revenue is disaggregated by products and service lines and timing of revenue recognition: December 31, December 31, December 31, At a point in time Natural gas distribution 7,372,957 8,636,221 6,363,617 Electricity trading 775,479 — — Lubricants and base oil 4,283,704 3,916,504 3,414,536 Other 59,923 64,682 60,641 12,492,063 12,617,407 9,838,794 Over time Railroad transportation services 6,680,307 6,548,109 5,715,450 Port elevation 285,852 351,563 303,800 Construction revenue 885,630 813,341 415,753 Services rendered 131,871 317,960 601,098 7,983,660 8,030,973 7,036,101 Elimination ( 37,888 ) ( 36,971 ) ( 40,127 ) Total 20,437,835 20,611,409 16,834,768 |
Costs and expenses by nature (T
Costs and expenses by nature (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Expenses by Nature/Purpose | The costs and expenses are presented in the statement of profit and loss by function. The reconciliation of income by nature/purpose is as follows: December 31, 2020 December 31, 2019 December 31, 2018 Commodity cost (natural gas) (i) ( 3,867,044 ) ( 4,885,497 ) ( 3,767,874 ) Raw materials ( 3,289,845 ) ( 3,231,169 ) ( 2,754,546 ) Personnel expenses ( 2,533,429 ) ( 2,244,252 ) ( 1,998,898 ) Depreciation and amortization ( 2,340,854 ) ( 2,287,877 ) ( 2,051,824 ) Railroad transportation and port elevation expenses ( 1,897,975 ) ( 1,867,196 ) ( 1,695,600 ) Electricity purchased for resale ( 927,913 ) — — Construction cost ( 885,630 ) ( 813,341 ) ( 415,753 ) Natural gas transportation cost ( 753,603 ) ( 703,500 ) ( 718,088 ) Leases expenses ( 59,693 ) ( 48,182 ) ( 14,157 ) Selling expenses ( 23,387 ) ( 26,168 ) ( 30,139 ) Leases and concessions expenses — — ( 212,081 ) Other ( 672,176 ) ( 411,979 ) ( 444,119 ) ( 17,251,549 ) ( 16,519,161 ) ( 14,103,079 ) Cost of sales ( 14,501,725 ) ( 14,160,233 ) ( 12,108,305 ) Selling expenses ( 959,146 ) ( 1,122,866 ) ( 1,019,234 ) General and administrative expenses ( 1,790,678 ) ( 1,236,062 ) ( 975,540 ) ( 17,251,549 ) ( 16,519,161 ) ( 14,103,079 ) (i) Includes the amount of R$ 201,346 arising from the recognition of sector financial asset and liability. |
Other income (expenses), net (T
Other income (expenses), net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Details of Other Expense Income Net | December 31, 2020 December 31, 2019 December 31, 2018 Settlement of disputes in the renewal process (i) 278,496 — — Tax credits 132,399 165,398 199,027 Gain (loss) on disposal of non-current assets and intangibles 30,610 ( 35,274 ) ( 956 ) Reimbursement of natural gas loss in the process (ii) 26,945 — — Gain on compensation claims — 50,284 — Indemnity — — 726,000 Net effect of legal proceedings ( 32,704 ) ( 105,153 ) ( 115,383 ) D epreciation of right-of-use ( 100,593 ) ( 40,545 ) — Disposal of credit rights (iii) ( 68,311 ) 410,000 — Loss on impairment (Note 12.2 ( 143,984 ) — ( 72,448 ) Other 54,011 ( 40,024 ) 11,042 176,869 404,686 747,282 (i) R$ 348,319 Note 14 69,823 Rumo Malha Paulista , whose discussion the Company gave up as a prerequisite for the conclusion of the process of early renewal of the concession, one the requirements imposed by TCU . (ii) Reimbursement of expenses on regulatory losses pursuant to ARSESP Resolution No. 977 (iii) On September 19, 2019, Cosan S.A. entered into a definitive agreement with Jus Capital Gestão de Recursos Ltda. for the purchase and sale of credit rights arising from severance claims filed against the Brazilian federal government, which was required to pay compensation for material damages resulting from the fixing of sugar and alcohol prices below their cost of production. The total amount involved amounts to R$ 410,000 95 410,000 95 |
Finance results (Tables)
Finance results (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investments accounted for using equity method [abstract] | |
Summary of Finance Income and Costs | Details of finance income and costs are as follows: December 31, December 31, December 31, Cost of gross debt Interest on debt ( 2,148,322 ) ( 1,626,911 ) ( 1,595,140 ) Monetary and exchange rate variation ( 3,253,446 ) ( 438,430 ) ( 1,488,293 ) Derivatives and fair value measurement 3,918,848 764,816 1,530,494 Amortization of borrowing costs ( 58,732 ) ( 56,397 ) ( 54,007 ) Guarantees and warranties ( 56,079 ) ( 65,207 ) ( 107,692 ) ( 1,597,731 ) ( 1,422,129 ) ( 1,714,638 ) Income from financial investment 369,690 407,701 437,583 369,690 407,701 437,583 Cost of debt, net ( 1,228,041 ) ( 1,014,428 ) ( 1,277,055 ) Other charges and monetary variations Interest on other receivables 201,060 435,498 460,886 Interest on other payables ( 16,293 ) ( 302,620 ) ( 87,499 ) Interest on leases and concessions agreements ( 37,657 ) ( 190,272 ) ( 186,259 ) Interest on leases payable ( 557,825 ) ( 368,968 ) ( 105,085 ) Advances on real state credits — — ( 5,091 ) Interest on shareholders' equity ( 4,959 ) ( 18,726 ) ( 13,011 ) Interest on contingencies and contracts ( 234,368 ) ( 222,617 ) ( 227,825 ) Bank charges and other ( 75,408 ) ( 196,230 ) ( 94,505 ) Foreign exchange, net ( 30,505 ) ( 89,260 ) ( 62,978 ) ( 755,955 ) ( 953,195 ) ( 321,367 ) Finance results, net ( 1,983,996 ) ( 1,967,623 ) ( 1,598,422 ) Reconciliation Finance expense ( 4,727,561 ) ( 3,690,578 ) ( 2,836,763 ) Finance income 407,710 974,604 1,032,158 Foreign exchange, net ( 3,258,656 ) ( 526,946 ) ( 1,552,366 ) Derivatives 5,594,511 1,275,297 1,758,549 Finance results, net (1,983,996 ) (1,967,623 ) (1,598,422 ) |
Post-employment benefits (Table
Post-employment benefits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Post-employment Benefits | December 31, December 31, Defined contribution Futura II 186 361 Defined benefit Futura 163,972 74,093 Health Plan 564,576 630,549 728,734 705,003 |
Summary of Defined Benefit Obligation and Fair Value of Plan Assets | Details of the present value of the defined benefit obligation and the fair value of plan assets are as follows: December 31, December 31, Actuarial obligation at beginning of the year 1,249,630 1,012,792 Current service cost 540 480 Interest on actuarial obligation 89,253 91,849 Actuarial (gain) loss arising from financial assumptions ( 58,250 ) 211,030 Actuarial loss (gain) arising from experience adjustment 30,267 ( 1,216 ) Actuarial loss arising from demographic assumptions 14 — Benefits payment ( 62,298 ) ( 65,305 ) Actuarial obligation at the end of the year 1,249,156 1,249,630 Fair value of plan assets at the beginning of the year ( 544,988 ) ( 433,174 ) Interest income ( 38,452 ) ( 39,299 ) Return on investments in the year (excluding interest income) 34,370 ( 105,417 ) Employer contributions ( 33,836 ) ( 32,403 ) Benefit payments 62,298 65,305 Fair value of plan assets at the end of the year ( 520,608 ) ( 544,988 ) Net defined benefit liability 728,548 704,642 |
Summary of Expense Recognized in Profit or Loss | Total expense recognized in profit or loss is as follows: December 31, December 31, Current service cost ( 540 ) ( 480 ) Interest on actuarial obligation ( 45,567 ) ( 45,601 ) ( 46,107 ) ( 46,081 ) |
Summary of Amount Recognised as Accumulated Other Comprehensive Income | Total amount recognized as other accumulated comprehensive income: December 31, December 31, Accumulated at the beginning of the year 66,305 170,702 Actuarial gain (loss) arising from financial assumptions 58,250 ( 211,030 ) Actuarial (loss) gain arising from experience adjustment ( 30,267 ) 1,216 Actuarial loss arising from demographic assumptions ( 14 ) — Return on investments in the year (excluding interest income) ( 34,370 ) 105,417 Accumulated at the end of the year 59,904 66,305 |
Summary of Plan Assets | The plan assets are composed of the following: December 31, 2020 December 31, 2019 Amount % Amount % Fixed income bonds 513,470 99.96 % 540,804 99.98 % Other 180 0.04 % 84 0.02 % 513,650 100.00 % 540,888 100.00 % |
Summary of Assumptions to Determine Defined Benefit Obligations | The main assumptions used to determine the benefit obligations of the Company are as follows: Defined benefit Health plan December 31, December 31, December 31, December 31, Discount rate (per year) 7.20 % 7.28 % 7.43 % 7.43 % Inflation rate (per year) 3.00 % 3.70 % 3.50 % 3.70 % Future salary increases (per year) N/A N/A 6.60 % 6.81 % Increase in pension plans (per year) 3.00 % 3.70 % 6.60 % 6.81 % |
Summary of Changes in Discount Rate | Change in the discount rate for the statement of financial position date in one Discount rate 0.50 ( 0.50 Defined benefit ( 31,358 ) 34,201 Health plan ( 35,907 ) 40,575 |
Share-based payment (Tables)
Share-based payment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Statement [LineItems] | |
Summary of Weighted Average Fair Value of Programs Granted and Principal Assumptions used in Applying Black-Scholes Model | The weighted average fair value of the programs granted during the financial years ended December 3 1 2020 2019 Stock grant programs Cosan S.A. Rumo S.A. Comgás Compass Gás e Energia December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Weighted average fair value at grant date 50.88 50.88 13.12 22.17 60.07 78.58 13.58 — Key assumptions: Share price at grant date 83.79 50.88 20.01 22.17 — 78.58 13.58 — Risk-free interest rate 6.94 6.82 6.94 6.82 6.94 6.82 N.A — Volatility factor 36.50 36.50 36.50 27.46 32.81 32.80 N.A — |
Summary of Number and Weighted-average Exercise Prices of Share Options | The movement in the number of awards outstanding and their related weighted-average exercise prices are a s follows At January 1, 2019 10,667,826 Granted 1,090,536 Vested ( 963,430 Cancelled ( 3,492,003 At December 31, 2019 7,302,929 Granted 2,883,559 Vested ( 1,942,401 Cancelled ( 197,330 At December 31, 2020 8,046,757 |
Cosan S.A. Industria e Comercio [member] | Equity-settled plans [member] | |
Statement [LineItems] | |
Summary of Share-based Payment Arrangements | Type of award / Grant date Company Expected life (years) Shares granted Exercised / canceled / transferred Available Share-based payment plan April 27, 2017 Cosan S.A. 5 274,000 ( 84,000 ) 190,000 July 31, 2017 Cosan S.A. 5 298,107 ( 90,262 ) 207,845 July 31, 2018 Cosan S.A. 5 210,602 ( 17,868 ) 192,734 July 31, 2019 Cosan S.A. 5 57,255 — 57,255 July 31, 2020 Cosan S.A. 5 17,243 — 17,243 857,207 ( 192,130 ) 665,077 April 20, 2017 Comgás 5 61,300 ( 14,405 ) 46,895 August 12, 2017 Comgás 5 97,780 ( 13,616 ) 84,164 August 1, 2018 Comgás 5 96,787 ( 5,338 ) 91,449 July 31, 2019 Comgás 5 83,683 ( 3,997 ) 79,686 February 01, 2020 Compass Gás e Energia 5 1,858,969 — 1,858,969 2,198,519 ( 37,356 ) 2,161,163 October 1, 2015 Rumo 5 1,485,900 ( 1,485,900 ) — January 2, 2017 Rumo 5 1,476,000 ( 23,600 ) 1,452,400 September 1, 2017 Rumo 5 870,900 ( 144,450 ) 726,450 August 1, 2018 Rumo 5 1,149,544 ( 173,453 ) 976,091 August 15, 2019 Rumo 5 843,152 ( 29,074 ) 814,078 August 15, 2019 Rumo 5 776,142 — 776,142 6,601,638 ( 2,068,877 ) 4,745,161 August 18, 2017 (i) Cosan Limited 5 7,146,694 ( 7,146,694 ) — 7,146,694 ( 7,146,694 ) — Share-based payment plan (modification plans) August 18, 2011 Cosan S.A. 1 12 1,501,626 ( 1,276,283 ) 225,343 December 12, 2012 Cosan S.A. 1 7 24,647 ( 24,647 ) — April 24, 2013 Cosan S.A. 5 7 122,123 ( 122,123 ) — April 25, 2014 Cosan S.A. 5 7 283,808 ( 283,808 ) — August 31, 2015 Cosan S.A. 5 7 463,906 ( 453,515 ) 10,391 2,396,110 ( 2,160,376 ) 235,734 Cash-settled transactions July 31, 2019 Cosan Limited 5 255,000 ( 255,000 ) — July 31, 2019 Moove 5 132,670 — 132,670 July 31, 2020 Moove 5 106,952 — 106,952 239,622 — 239,622 Total 19,694,790 ( 11,648,033 ) 8,046,757 |
Operations - Additional Informa
Operations - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cosan S.A. [member] | Capital Reserve [member] | ||
Disclosure of background and operations [Line Items] | ||
Percentage of ownership held in subsidiary | 66.74% | |
Cosan Logistica S.A. [member] | ||
Disclosure of background and operations [Line Items] | ||
Percentage of ownership held in subsidiary | 0.10% | 0.10% |
Cosan Logistica S.A. [member] | Capital Reserve [member] | ||
Disclosure of background and operations [Line Items] | ||
Percentage of ownership held in subsidiary | 73.48% |
Development of the Company - Ad
Development of the Company - Additional Information (Detail) R$ / shares in Units, R$ in Thousands | Apr. 15, 2021BRL (R$) | Aug. 23, 2020BRL (R$)R$ / sharesshares | May 27, 2020BRL (R$) | Mar. 31, 2020BRL (R$) | Jan. 14, 2020BRL (R$)shares | Nov. 01, 2019BRL (R$) | Mar. 28, 2019BRL (R$) | Dec. 21, 2018BRL (R$) | Dec. 31, 2020BRL (R$)shares | Dec. 31, 2020BRL (R$)GTshares | Dec. 31, 2019BRL (R$) | Dec. 31, 2018BRL (R$) | Apr. 09, 2020BRL (R$)shares | Apr. 24, 2018BRL (R$) |
Development of the Company | ||||||||||||||
Consolidated working capital | R$ 10887874 | R$ 10887874 | ||||||||||||
Profit for the year | 1,488,294 | R$ 2893373 | R$ 2083180 | |||||||||||
Cash and cash equivalents and marketable securities | R$ 17312027 | R$ 17312027 | ||||||||||||
Leverage ratio | 3.1 | 3.1 | 2.3 | |||||||||||
Covid 19 [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Financing facilities drew down | R$ 8222950 | |||||||||||||
Proceeds from financing facilities contracted by joint ventures | R$ 2276000 | |||||||||||||
Covid 19 [member] | Raizen Combustiveis [member] | Fuels [member] | Brazil [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of decreased consumption | 7.00% | |||||||||||||
Covid 19 [member] | Raizen Combustiveis [member] | Fuels [member] | ARGENTINA [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of decreased sales | 25.00% | |||||||||||||
Covid 19 [member] | Raizen Combustiveis [member] | Gasoline and ethanol [member] | Brazil [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of decreased demand | 9.00% | |||||||||||||
Covid 19 [member] | Raizen Combustiveis [member] | Gasoline and ethanol [member] | ARGENTINA [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of decreased consumption | 22.00% | |||||||||||||
Covid 19 [member] | Raizen Combustiveis [member] | Aviation fuels [member] | Brazil [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of decreased demand | 49.00% | |||||||||||||
Covid 19 [member] | Raizen Combustiveis [member] | Aviation fuels [member] | ARGENTINA [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of decreased consumption | 65.00% | |||||||||||||
Covid 19 [member] | Gas and Energy [member] | Industrial segment [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of decreased demand for natural gas | 6.00% | |||||||||||||
Covid 19 [member] | Gas and Energy [member] | Commercial segment [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of decreased demand for natural gas | 28.00% | |||||||||||||
Covid 19 [member] | Gas and Energy [member] | Residential Segment [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of increased demand for natural gas | 8.00% | |||||||||||||
Covid 19 [member] | Moove [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of increased volume sold | 18.00% | |||||||||||||
Banco Santander (Brasil) S.A. [member] | Swap agreements for shares | ||||||||||||||
Development of the Company | ||||||||||||||
Maximum aggregate amount of derivatives which may be negotiated pursuant to agreement | R$ 600000 | |||||||||||||
Maximum aggregate number of underlying shares pursuant to agreement | shares | 19,500,000 | |||||||||||||
Rede Integrada de Lojas de Convenencias e Proximidade S.A [Member] | ||||||||||||||
Development of the Company | ||||||||||||||
Investment in joint venture | R$ 1122000 | |||||||||||||
Gain (loss) from formation of joint venture | R$ 528967 | |||||||||||||
Proportion of ownership interest in joint venture | 50.00% | |||||||||||||
Raizen Combustiveis S A [member] | Raizen argentina [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Acquisition consideration price | R$ 3917438 | |||||||||||||
Cosan Lubes Investments Limited [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Issue of shares for investment agreement | R$ 588637 | |||||||||||||
Percentage of issuance of new common shares for investment agreement | 30.00% | |||||||||||||
Proceeds from issue of share capital for investment agreement | R$ 65478 | R$ 454000 | ||||||||||||
Cosan Lubes Investments Limited [member] | Major ordinary share transactions [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Proceeds from issue of share capital for investment agreement | R$ 68876 | |||||||||||||
Rumo S.A. [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Number of shares issued | shares | 1,559,015,898 | 1,559,015,898 | ||||||||||||
Rumo S.A. [member] | Covid 19 [member] | Logistics [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Volume transported per kilometer | GT | 62.5 | |||||||||||||
Percentage of increased volume transported | 3.90% | |||||||||||||
Rumo S.A. [member] | Covid 19 [member] | Logistics [member] | Industrial segment [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of decreased volume transported | 5.80% | |||||||||||||
Percentage of decreased demand for transportation of grains | 10.40% | |||||||||||||
Rumo S.A. [member] | Common shares [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Proceeds from issue of share through follow-on offering | R$ 6400000 | |||||||||||||
Number of shares issued | shares | 294,252,874 | |||||||||||||
Share issue price | R$ / shares | R$ 21.75 | |||||||||||||
Rumo S.A. [member] | Railroad Network [Member] | ||||||||||||||
Development of the Company | ||||||||||||||
Contractual Term | 30 years | |||||||||||||
Contractual bid amount | R$ 2719530 | |||||||||||||
Contractual bid amount adjusted with contratual parameters | R$ 2904778 | |||||||||||||
Percentage of cash payment in auction | 5.00% | |||||||||||||
Period of cash payment to be made in auction | 45 days | |||||||||||||
Number of quarterly installments calculated pursuant to the terms of the concession agreement | 120 | |||||||||||||
Payments for auction | R$ 145239 | |||||||||||||
Comgas [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Number of shares issued | shares | 132,520,587 | 132,520,587 | ||||||||||||
Rumo Malha Paulista S.A. [member] | ||||||||||||||
Development of the Company | ||||||||||||||
New grant amount for sub-concession contracts | R$ 3382030 | |||||||||||||
Repayment of grants for sub-concession contracts | 2,823,777 | |||||||||||||
Estimated investments to be made for sub-concession contracts | R$ 6100000 | R$ 6100000 | R$ 6100000 | |||||||||||
Cosan S.A. [member] | Cosan Lubes Investments Limited [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of ownership held in subsidiary | 70.00% | 70.00% | ||||||||||||
Cosan S.A. [member] | Rumo S.A. [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of ownership held in subsidiary | 2.16% | 1.71% | ||||||||||||
Cosan S.A. [member] | Comgas [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Percentage of ownership held in subsidiary | 99.15% | |||||||||||||
Investment in subsidiary was derecognized | R$ 2861936 | |||||||||||||
Cosan S.A. [member] | Comgas [member] | Common shares [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Shares held in subsidiary | shares | 103,699,333 | |||||||||||||
Cosan S.A. [member] | Comgas [member] | Preference shares [member] | ||||||||||||||
Development of the Company | ||||||||||||||
Shares held in subsidiary | shares | 27,682,044 |
Corporate reorganization - Addi
Corporate reorganization - Additional Information (Detail) - Cosan S.A. [member] | 12 Months Ended |
Dec. 31, 2020 | |
Cosan Limited [member] | |
Corporate reorganization | |
Conversion ratio per share of acquiree upon merger | 1.29401595263 |
Conversion ratio per share of acquirer upon merger | 0.772788 |
Cosan Logistica S.A. [member] | |
Corporate reorganization | |
Conversion ratio per share of acquiree upon merger | 0.25360679585 |
Conversion ratio per share of acquirer upon merger | 3.943112 |
Accounting policies - Schedule
Accounting policies - Schedule of Exchange Rates of Real for Functional Currencies of Subsidiaries (Detail) | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
United States dollar (U.S.$) [member] | |||
Disclosure of foreign exchange rates [line items] | |||
Foreign currency exchange rate | 5.197 | 4.031 | 3.875 |
British pound (GBP) [member] | |||
Disclosure of foreign exchange rates [line items] | |||
Foreign currency exchange rate | 7.101 | 5.325 | 4.962 |
Euro Member Countries, Euro | |||
Disclosure of foreign exchange rates [line items] | |||
Foreign currency exchange rate | 6.378 | 4.531 | 4.439 |
Segment Information - Summary o
Segment Information - Summary of Income or Loss (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of operating segments [line items] | ||||
Gross Sale | R$ 24926166 | R$ 24516586 | R$ 19925745 | |
Net sales | 20,437,835 | 20,611,409 | 16,834,768 | |
Cost of sales | (14,501,725) | (14,160,233) | (12,108,305) | |
Gross profit | 5,936,110 | 6,451,176 | 4,726,463 | |
Selling expenses | (959,146) | (1,122,866) | (1,019,234) | |
General and administrative expenses | (1,790,678) | (1,236,062) | (975,540) | |
Other expenses, net | 176,869 | 404,686 | 747,282 | |
Interest in earnings of associates | 28,801 | 1,231 | 45,066 | |
Interest in earnings of joint ventures | 583,001 | 1,131,406 | 946,282 | |
Finance results, net | (1,983,996) | (1,967,623) | (1,598,422) | |
Finance expense | (4,727,561) | (3,690,578) | (2,836,763) | |
Finance income | 407,710 | 974,604 | 1,032,158 | |
Foreign exchange, net | (3,258,656) | (526,946) | (1,552,366) | |
Derivatives | 5,594,511 | 1,275,297 | 1,758,549 | |
Income taxes | (502,667) | (779,596) | (760,487) | |
Profit (loss) from continuing operations | 1,488,294 | 2,882,352 | 2,111,410 | |
Profit (loss) from discontinued operation, net of tax | 11,021 | (28,230) | ||
Profit (loss) for the year | 1,488,294 | 2,893,373 | 2,083,180 | |
Profit (loss) attributable to: | ||||
Owners of the Company | 859,482 | 1,316,341 | 975,448 | |
Non-controlling interests | 628,812 | 1,577,032 | 1,107,732 | |
Profit (loss) for the year | 1,488,294 | 2,893,373 | 2,083,180 | |
Other select data | ||||
Depreciation and amortization | 2,340,854 | 2,287,877 | 2,051,824 | |
EBITDA | 6,315,811 | 7,917,448 | 6,522,143 | |
Additions to Property Plant and Equipment Intangible and Contract Assets | 4,034,688 | 2,762,937 | 2,628,153 | |
Reconciliation of EBITDA | ||||
Profit (loss) for the year | 1,488,294 | 2,893,373 | 2,083,180 | |
Income taxes | 502,667 | 779,596 | 760,487 | |
Finance results, net | 1,983,996 | 1,967,623 | 1,598,422 | |
Depreciation and amortization | 2,340,854 | 2,287,877 | 2,051,824 | |
EBITDA | 6,315,811 | 7,917,448 | 6,522,143 | |
Brazil [member] | ||||
Disclosure of operating segments [line items] | ||||
Net sales | 18,100,012 | 18,522,108 | 14,720,088 | |
Domestic market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 24,084,002 | 24,151,529 | 19,787,076 |
External market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 842,164 | 365,057 | 138,669 |
Operating segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Net sales | 9,093,170 | 9,514,222 | 6,840,011 | |
Operating segments [member] | Raizen Energia S.A. [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | 33,198,096 | 30,458,300 | 21,296,564 | |
Net sales | 31,661,546 | 28,835,309 | 19,798,546 | |
Cost of sales | (28,207,626) | (26,951,969) | (18,136,443) | |
Gross profit | 3,453,920 | 1,883,340 | 1,662,103 | |
Selling expenses | (1,119,878) | (866,330) | (768,831) | |
General and administrative expenses | (647,492) | (621,843) | (664,690) | |
Other expenses, net | 161,236 | 136,695 | 570,343 | |
Interest in earnings of associates | 0 | 0 | 0 | |
Interest in earnings of joint ventures | (86,630) | (12,179) | 22,139 | |
Finance results, net | (1,023,562) | (759,350) | (318,335) | |
Finance expense | (1,610,586) | (1,449,680) | (968,066) | |
Finance income | 391,308 | 471,581 | 583,546 | |
Foreign exchange, net | (603,224) | (36,107) | (90,780) | |
Derivatives | 798,940 | 254,856 | 156,965 | |
Income taxes | (211,932) | 117,371 | 9,007 | |
Profit (loss) from continuing operations | (122,296) | 511,736 | ||
Profit (loss) from discontinued operation, net of tax | 0 | 0 | ||
Profit (loss) for the year | 525,662 | (122,296) | 511,736 | |
Profit (loss) attributable to: | ||||
Owners of the Company | 503,120 | (183,784) | 507,580 | |
Non-controlling interests | 22,542 | 61,488 | 4,156 | |
Profit (loss) for the year | 525,662 | (122,296) | 511,736 | |
Other select data | ||||
Depreciation and amortization | 4,092,682 | 2,833,200 | 2,147,455 | |
EBITDA | 5,853,838 | 3,352,883 | 2,968,519 | |
Additions to Property Plant and Equipment Intangible and Contract Assets | 2,669,052 | 2,902,907 | 2,571,359 | |
Reconciliation of EBITDA | ||||
Profit (loss) for the year | 525,662 | (122,296) | 511,736 | |
Income taxes | 211,932 | (117,371) | (9,007) | |
Finance results, net | 1,023,562 | 759,350 | 318,335 | |
Depreciation and amortization | 4,092,682 | 2,833,200 | 2,147,455 | |
EBITDA | 5,853,838 | 3,352,883 | 2,968,519 | |
Operating segments [member] | Raizen Energia S.A. [member] | Domestic market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 23,153,941 | 24,180,375 | 16,271,074 |
Operating segments [member] | Raizen Energia S.A. [member] | External market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 10,044,155 | 6,277,925 | 5,025,490 |
Operating segments [member] | Raizen Combustiveis [member] | ||||
Disclosure of operating segments [line items] | ||||
Net sales | 86,388,176 | 100,514,154 | 85,204,091 | |
Operating segments [member] | Raizen Combustiveis [member] | Brazil [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | 79,748,342 | 92,116,093 | 85,793,511 | |
Net sales | 76,387,354 | 87,946,233 | 81,960,154 | |
Cost of sales | (73,450,143) | (84,137,215) | (78,223,747) | |
Gross profit | 2,937,211 | 3,809,018 | 3,736,407 | |
Selling expenses | (1,413,556) | (1,489,100) | (1,378,292) | |
General and administrative expenses | (437,681) | (486,149) | (479,848) | |
Other expenses, net | 263,271 | 1,810,364 | 455,250 | |
Interest in earnings of associates | (88,323) | 115,168 | (9,954) | |
Interest in earnings of joint ventures | (937) | 4,973 | 1 | |
Finance results, net | (204,275) | (216,381) | (445,909) | |
Finance expense | (619,403) | (649,509) | (460,734) | |
Finance income | 263,493 | 268,801 | 206,718 | |
Foreign exchange, net | (3,154,960) | (259,014) | (763,008) | |
Derivatives | 3,306,595 | 423,341 | 571,115 | |
Income taxes | (362,349) | (1,013,037) | (443,136) | |
Profit (loss) from continuing operations | 2,534,856 | 1,434,519 | ||
Profit (loss) from discontinued operation, net of tax | 0 | 0 | ||
Profit (loss) for the year | 693,361 | 2,534,856 | 1,434,519 | |
Profit (loss) attributable to: | ||||
Owners of the Company | 666,379 | 2,467,692 | 1,386,361 | |
Non-controlling interests | 26,982 | 67,164 | 48,158 | |
Profit (loss) for the year | 693,361 | 2,534,856 | 1,434,519 | |
Other select data | ||||
Depreciation and amortization | 306,142 | 284,952 | 191,114 | |
EBITDA | 1,566,127 | 4,049,226 | 2,514,678 | |
Additions to Property Plant and Equipment Intangible and Contract Assets | 229,473 | 339,987 | 51,424 | |
Reconciliation of EBITDA | ||||
Profit (loss) for the year | 693,361 | 2,534,856 | 1,434,519 | |
Income taxes | 362,349 | 1,013,037 | 443,136 | |
Finance results, net | 204,275 | 216,381 | 445,909 | |
Depreciation and amortization | 306,142 | 284,952 | 191,114 | |
EBITDA | 1,566,127 | 4,049,226 | 2,514,678 | |
Operating segments [member] | Raizen Combustiveis [member] | ARGENTINA [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | 14,886,280 | 17,655,659 | 4,497,337 | |
Net sales | 10,000,822 | 12,567,921 | 3,243,937 | |
Cost of sales | (9,142,729) | (11,340,151) | (3,074,701) | |
Gross profit | 858,093 | 1,227,770 | 169,236 | |
Selling expenses | (731,322) | (713,874) | (128,443) | |
General and administrative expenses | (178,560) | (124,674) | (46,400) | |
Other expenses, net | 129,619 | 73,942 | 11,566 | |
Interest in earnings of associates | 0 | 0 | 0 | |
Interest in earnings of joint ventures | 0 | 0 | 0 | |
Finance results, net | (203,430) | (320,506) | (7,692) | |
Finance expense | (115,782) | (81,237) | (12,818) | |
Finance income | 35,877 | 26,954 | 5,686 | |
Foreign exchange, net | (63,278) | (276,256) | (560) | |
Derivatives | (60,247) | 10,033 | 0 | |
Income taxes | 37,277 | (27,490) | (8,221) | |
Profit (loss) from continuing operations | 115,168 | (9,954) | ||
Profit (loss) from discontinued operation, net of tax | 0 | 0 | ||
Profit (loss) for the year | (88,323) | 115,168 | (9,954) | |
Profit (loss) attributable to: | ||||
Owners of the Company | (88,323) | 115,168 | (9,954) | |
Non-controlling interests | 0 | 0 | 0 | |
Profit (loss) for the year | (88,323) | 115,168 | (9,954) | |
Other select data | ||||
Depreciation and amortization | 660,415 | 507,702 | 76,140 | |
EBITDA | 738,245 | 970,866 | 82,099 | |
Additions to Property Plant and Equipment Intangible and Contract Assets | 260,890 | 343,367 | 343,367 | |
Reconciliation of EBITDA | ||||
Profit (loss) for the year | (88,323) | 115,168 | (9,954) | |
Income taxes | (37,277) | 27,490 | 8,221 | |
Finance results, net | 203,430 | 320,506 | 7,692 | |
Depreciation and amortization | 660,415 | 507,702 | 76,140 | |
EBITDA | 738,245 | 970,866 | 82,099 | |
Operating segments [member] | Raizen Combustiveis [member] | Domestic market [member] | Brazil [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 79,748,342 | 90,619,697 | 83,350,683 |
Operating segments [member] | Raizen Combustiveis [member] | Domestic market [member] | ARGENTINA [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 14,886,280 | 17,655,659 | 4,497,337 |
Operating segments [member] | Raizen Combustiveis [member] | External market [member] | Brazil [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 1,496,396 | 2,442,828 | |
Operating segments [member] | Raizen Combustiveis [member] | External market [member] | ARGENTINA [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 0 | 0 | |
Operating segments [member] | Gas and Energy [Member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | 12,024,615 | 12,007,634 | 8,695,208 | |
Net sales | 9,093,170 | 9,514,222 | 6,840,011 | |
Cost of sales | (6,434,190) | (6,402,338) | (4,901,715) | |
Gross profit | 2,658,980 | 3,111,884 | 1,938,296 | |
Selling expenses | (454,131) | (614,492) | (613,046) | |
General and administrative expenses | (577,474) | (404,441) | (367,670) | |
Other expenses, net | 56,176 | (31,534) | 763,608 | |
Interest in earnings of associates | 0 | 0 | 0 | |
Interest in earnings of joint ventures | 0 | 0 | 0 | |
Finance results, net | (282,773) | (180,381) | 78,773 | |
Finance expense | (374,252) | (495,958) | (504,071) | |
Finance income | 72,500 | 315,634 | 581,181 | |
Foreign exchange, net | (150,227) | (27,518) | (93,780) | |
Derivatives | 169,206 | 27,461 | 95,443 | |
Income taxes | (460,312) | (588,389) | (540,995) | |
Profit (loss) from continuing operations | 1,292,647 | 1,258,966 | ||
Profit (loss) from discontinued operation, net of tax | 0 | 0 | ||
Profit (loss) for the year | 940,466 | 1,292,647 | 1,258,966 | |
Profit (loss) attributable to: | ||||
Owners of the Company | 923,420 | 1,255,369 | 1,008,190 | |
Non-controlling interests | 17,046 | 37,278 | 250,776 | |
Profit (loss) for the year | 940,466 | 1,292,647 | 1,258,966 | |
Other select data | ||||
Depreciation and amortization | 500,714 | 459,584 | 464,517 | |
EBITDA | 2,184,265 | 2,521,001 | 2,185,705 | |
Additions to Property Plant and Equipment Intangible and Contract Assets | 1,006,881 | 775,769 | 531,739 | |
Reconciliation of EBITDA | ||||
Profit (loss) for the year | 940,466 | 1,292,647 | 1,258,966 | |
Income taxes | 460,312 | 588,389 | 540,995 | |
Finance results, net | 282,773 | 180,381 | (78,773) | |
Depreciation and amortization | 500,714 | 459,584 | 464,517 | |
EBITDA | 2,184,265 | 2,521,001 | 2,185,705 | |
Operating segments [member] | Gas and Energy [Member] | Domestic market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 12,024,615 | 12,007,634 | 8,695,208 |
Operating segments [member] | Gas and Energy [Member] | External market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 0 | 0 | |
Operating segments [member] | Moove [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | 5,588,754 | 5,072,163 | 4,381,188 | |
Net sales | 4,415,575 | 4,046,296 | 3,449,949 | |
Cost of sales | (3,380,304) | (3,185,745) | (2,781,084) | |
Gross profit | 1,035,271 | 860,551 | 668,865 | |
Selling expenses | (471,829) | (492,482) | (393,317) | |
General and administrative expenses | (229,672) | (173,212) | (132,336) | |
Other expenses, net | 34,876 | 31,806 | 2,393 | |
Interest in earnings of associates | 0 | 439 | (349) | |
Interest in earnings of joint ventures | 0 | 0 | 0 | |
Finance results, net | (129,342) | (96,794) | (27,279) | |
Finance expense | (30,910) | (38,514) | (35,157) | |
Finance income | 20,086 | 22,385 | 9,928 | |
Foreign exchange, net | (161,636) | (92,989) | (26,875) | |
Derivatives | 43,118 | 12,324 | 24,825 | |
Income taxes | (87,941) | (55,206) | (49,439) | |
Profit (loss) from continuing operations | 75,102 | 68,538 | ||
Profit (loss) from discontinued operation, net of tax | 0 | 0 | ||
Profit (loss) for the year | 151,363 | 75,102 | 68,538 | |
Profit (loss) attributable to: | ||||
Owners of the Company | 104,570 | 72,971 | 67,882 | |
Non-controlling interests | 46,793 | 2,131 | 656 | |
Profit (loss) for the year | 151,363 | 75,102 | 68,538 | |
Other select data | ||||
Depreciation and amortization | 108,687 | 97,827 | 91,972 | |
EBITDA | 477,333 | 324,929 | 237,228 | |
Additions to Property Plant and Equipment Intangible and Contract Assets | 29,658 | 32,854 | 47,346 | |
Reconciliation of EBITDA | ||||
Profit (loss) for the year | 151,363 | 75,102 | 68,538 | |
Income taxes | 87,941 | 55,206 | 49,439 | |
Finance results, net | 129,342 | 96,794 | 27,279 | |
Depreciation and amortization | 108,687 | 97,827 | 91,972 | |
EBITDA | 477,333 | 324,929 | 237,228 | |
Operating segments [member] | Moove [member] | Domestic market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 5,117,770 | 4,948,678 | 4,242,819 |
Operating segments [member] | Moove [member] | External market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 470,984 | 123,485 | 138,369 |
Operating segments [member] | Logistics [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | 7,349,804 | 7,473,730 | 6,889,477 | |
Net sales | 6,966,159 | 7,087,840 | 6,584,937 | |
Cost of sales | (4,721,507) | (4,608,781) | (4,465,634) | |
Gross profit | 2,244,652 | 2,479,059 | 2,119,303 | |
Selling expenses | (30,670) | (6,983) | (12,871) | |
General and administrative expenses | (411,336) | (364,555) | (301,698) | |
Other expenses, net | 128,388 | (24,084) | (65,303) | |
Interest in earnings of associates | 13,087 | 21,876 | 10,179 | |
Interest in earnings of joint ventures | 0 | 0 | 0 | |
Finance results, net | (1,503,221) | (1,197,817) | (1,208,820) | |
Finance expense | (2,920,241) | (1,871,221) | (1,518,156) | |
Finance income | 177,206 | 202,875 | 224,531 | |
Foreign exchange, net | (1,577,342) | (205,839) | (668,064) | |
Derivatives | 2,817,156 | 676,368 | 752,869 | |
Income taxes | (169,990) | (129,247) | (268,439) | |
Profit (loss) from continuing operations | 778,249 | 272,351 | ||
Profit (loss) from discontinued operation, net of tax | 0 | 0 | ||
Profit (loss) for the year | 270,910 | 778,249 | 272,351 | |
Profit (loss) attributable to: | ||||
Owners of the Company | 43,602 | 157,216 | 54,114 | |
Non-controlling interests | 227,308 | 621,033 | 218,237 | |
Profit (loss) for the year | 270,910 | 778,249 | 272,351 | |
Other select data | ||||
Depreciation and amortization | 1,715,527 | 1,716,185 | 1,491,306 | |
EBITDA | 3,659,648 | 3,821,498 | 3,240,916 | |
Additions to Property Plant and Equipment Intangible and Contract Assets | 2,979,213 | 1,943,063 | 1,996,746 | |
Reconciliation of EBITDA | ||||
Profit (loss) for the year | 270,910 | 778,249 | 272,351 | |
Income taxes | 169,990 | 129,247 | 268,439 | |
Finance results, net | 1,503,221 | 1,197,817 | 1,208,820 | |
Depreciation and amortization | 1,715,527 | 1,716,185 | 1,491,306 | |
EBITDA | 3,659,648 | 3,821,498 | 3,240,916 | |
Operating segments [member] | Logistics [member] | Domestic market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 6,978,624 | 7,232,158 | 6,889,177 |
Operating segments [member] | Logistics [member] | External market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 371,180 | 241,572 | 300 |
Unallocated amounts [member] | Cosan Corporate [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | 880 | 106 | 0 | |
Net sales | 818 | 98 | (1) | |
Cost of sales | (3,611) | (416) | 0 | |
Gross profit | (2,793) | (318) | (1) | |
Selling expenses | (2,516) | (8,909) | 0 | |
General and administrative expenses | (572,196) | (293,854) | (173,836) | |
Other expenses, net | (42,571) | 428,498 | 46,584 | |
Interest in earnings of associates | 1,746,969 | 2,822,914 | 2,119,282 | |
Interest in earnings of joint ventures | 583,001 | 1,131,406 | 946,282 | |
Finance results, net | (68,660) | (492,631) | (441,096) | |
Finance expense | (1,402,158) | (1,284,885) | (779,379) | |
Finance income | 137,918 | 433,710 | 216,518 | |
Foreign exchange, net | (1,369,451) | (200,600) | (763,647) | |
Derivatives | 2,565,031 | 559,144 | 885,412 | |
Income taxes | 215,576 | (6,754) | 98,386 | |
Profit (loss) from continuing operations | 3,580,352 | 2,595,601 | ||
Profit (loss) from discontinued operation, net of tax | 11,021 | (28,230) | ||
Profit (loss) for the year | 1,856,810 | 3,591,373 | 2,567,371 | |
Profit (loss) attributable to: | ||||
Owners of the Company | 1,519,145 | 3,586,632 | 2,562,278 | |
Non-controlling interests | 337,665 | 4,741 | 5,093 | |
Profit (loss) for the year | 1,856,810 | 3,591,373 | 2,567,371 | |
Other select data | ||||
Depreciation and amortization | 15,926 | 14,281 | 4,029 | |
EBITDA | 1,725,820 | 4,094,018 | 2,942,340 | |
Additions to Property Plant and Equipment Intangible and Contract Assets | 18,936 | 11,251 | 52,322 | |
Reconciliation of EBITDA | ||||
Profit (loss) for the year | 1,856,810 | 3,591,373 | 2,567,371 | |
Income taxes | (215,576) | 6,754 | (98,386) | |
Finance results, net | 68,660 | 492,631 | 441,096 | |
Depreciation and amortization | 15,926 | 14,281 | 4,029 | |
EBITDA | 1,725,820 | 4,094,018 | 2,942,340 | |
Unallocated amounts [member] | Cosan Corporate [member] | Domestic market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 880 | 106 | 0 |
Unallocated amounts [member] | Cosan Corporate [member] | External market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | 0 | 0 | |
Deconsolidation Of Joint Ventures [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | (127,832,718) | (140,230,052) | (111,587,412) | |
Net sales | (118,049,722) | (129,349,463) | (105,002,637) | |
Cost of sales | 110,800,498 | 122,429,335 | 99,434,891 | |
Gross profit | (7,249,224) | (6,920,128) | (5,567,746) | |
Selling expenses | 3,264,756 | 3,069,304 | 2,275,566 | |
General and administrative expenses | 1,263,733 | 1,232,666 | 1,190,938 | |
Other expenses, net | (554,126) | (2,021,001) | (1,037,159) | |
Interest in earnings of associates | 88,323 | (115,168) | 9,954 | |
Interest in earnings of joint ventures | 87,567 | 7,206 | (22,140) | |
Finance results, net | 1,431,267 | 1,296,237 | 771,936 | |
Finance expense | 2,345,771 | 2,180,426 | 1,441,618 | |
Finance income | (690,678) | (767,336) | (795,950) | |
Foreign exchange, net | 3,821,462 | 571,377 | 854,348 | |
Derivatives | (4,045,288) | (688,230) | (728,080) | |
Income taxes | 537,004 | 923,156 | 442,350 | |
Profit (loss) from continuing operations | (2,527,728) | (1,936,301) | ||
Profit (loss) from discontinued operation, net of tax | 0 | 0 | ||
Profit (loss) for the year | (1,130,700) | (2,527,728) | (1,936,301) | |
Profit (loss) attributable to: | ||||
Owners of the Company | (1,081,176) | (2,399,076) | (1,883,987) | |
Non-controlling interests | (49,524) | (128,652) | (52,314) | |
Profit (loss) for the year | (1,130,700) | (2,527,728) | (1,936,301) | |
Other select data | ||||
Depreciation and amortization | (5,059,239) | (3,625,854) | (2,414,709) | |
EBITDA | (8,158,210) | (8,372,975) | (5,565,296) | |
Additions to Property Plant and Equipment Intangible and Contract Assets | (3,159,415) | (3,586,261) | (2,966,150) | |
Reconciliation of EBITDA | ||||
Profit (loss) for the year | (1,130,700) | (2,527,728) | (1,936,301) | |
Income taxes | (537,004) | (923,156) | (442,350) | |
Finance results, net | (1,431,267) | (1,296,237) | (771,936) | |
Depreciation and amortization | (5,059,239) | (3,625,854) | (2,414,709) | |
EBITDA | (8,158,210) | (8,372,975) | (5,565,296) | |
Deconsolidation Of Joint Ventures [member] | Domestic market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | (117,788,563) | (132,455,731) | (104,119,094) |
Deconsolidation Of Joint Ventures [member] | External market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | (10,044,155) | (7,774,321) | (7,468,318) |
Elimination of intersegment amounts [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | (37,887) | (37,047) | (40,128) | |
Net sales | (37,887) | (37,047) | (40,128) | |
Cost of sales | 37,887 | 37,047 | 40,128 | |
Gross profit | 0 | 0 | 0 | |
Selling expenses | 0 | 0 | 0 | |
General and administrative expenses | 0 | 0 | 0 | |
Other expenses, net | 0 | 0 | 0 | |
Interest in earnings of associates | (1,731,255) | (2,843,998) | (2,084,046) | |
Interest in earnings of joint ventures | 0 | 0 | 0 | |
Finance results, net | 0 | 0 | 0 | |
Finance expense | 0 | 0 | 0 | |
Finance income | 0 | 0 | 0 | |
Foreign exchange, net | 0 | 0 | 0 | |
Derivatives | 0 | 0 | 0 | |
Income taxes | 0 | 0 | 0 | |
Profit (loss) from continuing operations | (2,843,998) | (2,084,046) | ||
Profit (loss) from discontinued operation, net of tax | 0 | 0 | ||
Profit (loss) for the year | (1,731,255) | (2,843,998) | (2,084,046) | |
Profit (loss) attributable to: | ||||
Owners of the Company | (1,731,255) | (3,755,847) | (2,717,016) | |
Non-controlling interests | 0 | 911,849 | 632,970 | |
Profit (loss) for the year | (1,731,255) | (2,843,998) | (2,084,046) | |
Other select data | ||||
Depreciation and amortization | 0 | 0 | 0 | |
EBITDA | (1,731,255) | (2,843,998) | (2,084,046) | |
Additions to Property Plant and Equipment Intangible and Contract Assets | 0 | 0 | 0 | |
Reconciliation of EBITDA | ||||
Profit (loss) for the year | (1,731,255) | (2,843,998) | (2,084,046) | |
Income taxes | 0 | 0 | 0 | |
Finance results, net | 0 | 0 | 0 | |
Depreciation and amortization | 0 | 0 | 0 | |
EBITDA | (1,731,255) | (2,843,998) | (2,084,046) | |
Elimination of intersegment amounts [member] | Domestic market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | (37,887) | (37,047) | (40,128) |
Elimination of intersegment amounts [member] | External market [member] | ||||
Disclosure of operating segments [line items] | ||||
Gross Sale | [1] | R$ 0 | R$ 0 | |
[1] | Domestic markets: sales within the countries where each entity is located; external markets: sales export. |
Segment Information - Summary_2
Segment Information - Summary of Financial Position (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Statement of financial position: | ||||
Total assets | R$ 83713565 | R$ 65717874 | ||
Cash and cash equivalents | 13,642,918 | 8,472,274 | R$ 3621798 | R$ 4555177 |
Marketable securities | 3,669,109 | 3,115,503 | ||
Trade receivables | 2,033,441 | 1,814,394 | ||
Derivative financial instruments | 8,140,700 | 3,824,410 | ||
Inventories | 935,264 | 787,322 | ||
Sector financial assets | 241,749 | |||
Other financial assets | 69,126 | 151,763 | ||
Other current assets | 2,281,668 | 1,604,249 | ||
Other non-current assets | 4,338,418 | 3,954,226 | ||
Investments in associates | 383,851 | 377,707 | ||
Investments in joint ventures | 7,988,208 | 7,548,960 | 8,077,907 | |
Biological assets | 0 | 0 | ||
Contract asset | 695,938 | 600,541 | ||
Right-of-use assets | 7,916,230 | 4,469,730 | ||
Property, plant and equipment | 14,068,506 | 12,153,136 | ||
Intangible assets and goodwill | 17,308,439 | 16,843,659 | ||
Liabilities | (62,894,698) | (49,477,393) | ||
Loans, borrowings and debentures | (42,249,460) | (29,052,215) | (22,574,313) | |
Derivative financial instruments | (446,061) | (81,051) | ||
Trade payables | (2,630,054) | (2,190,264) | ||
Employee benefits payables | (336,466) | (381,337) | ||
Sector financial liabilities | (565,911) | |||
Other current liabilities | (3,706,193) | (2,254,126) | ||
Preferred shareholders payable in subsidiaries | (387,044) | (611,537) | (1,097,490) | |
Lease | (3,001,847) | (4,594,888) | ||
Other non-current liabilities | (9,571,662) | (10,311,975) | ||
Total assets (net of liabilities) allocated by segment | 20,818,867 | 16,240,481 | 17,969,356 | 17,059,413 |
Shareholders' equity attributable to: | ||||
Owners of the Company | 5,260,083 | 5,401,865 | ||
Non-controlling interests | 15,558,784 | 10,838,616 | ||
Total shareholders' equity | 20,818,867 | 16,240,481 | R$ 17969356 | R$ 17059413 |
Operating segments [member] | Raizen Energia S.A. [member] | ||||
Statement of financial position: | ||||
Total assets | 44,981,452 | 42,843,360 | ||
Cash and cash equivalents | 2,293,506 | 2,715,055 | ||
Marketable securities | 0 | 0 | ||
Trade receivables | 1,835,656 | 1,135,079 | ||
Derivative financial instruments | 4,904,580 | 2,139,240 | ||
Inventories | 3,975,086 | 4,592,428 | ||
Sector financial assets | 0 | |||
Other financial assets | 160,600 | 602,542 | ||
Other current assets | 4,862,274 | 7,125,332 | ||
Other non-current assets | 5,374,084 | 4,196,166 | ||
Investments in associates | 0 | 0 | ||
Investments in joint ventures | 536,540 | 577,008 | ||
Biological assets | 1,073,582 | 734,495 | ||
Contract asset | 0 | 0 | ||
Right-of-use assets | 4,698,238 | 4,017,503 | ||
Property, plant and equipment | 11,667,442 | 11,342,326 | ||
Intangible assets and goodwill | 3,599,864 | 3,666,186 | ||
Liabilities | (34,923,572) | (32,407,587) | ||
Loans, borrowings and debentures | (17,516,886) | (15,653,705) | ||
Derivative financial instruments | (4,502,866) | (1,422,923) | ||
Trade payables | (3,244,436) | (5,101,474) | ||
Employee benefits payables | (383,114) | (360,414) | ||
Sector financial liabilities | 0 | |||
Other current liabilities | (3,014,286) | (4,317,609) | ||
Preferred shareholders payable in subsidiaries | 0 | 0 | ||
Lease | (4,246,196) | (3,504,501) | ||
Other non-current liabilities | (2,015,788) | (2,046,961) | ||
Total assets (net of liabilities) allocated by segment | 10,057,880 | 10,435,773 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 9,967,891 | 10,358,052 | ||
Non-controlling interests | 89,989 | 77,721 | ||
Total shareholders' equity | 10,057,880 | 10,435,773 | ||
Operating segments [member] | Raizen Combustiveis [member] | Brazil [member] | ||||
Statement of financial position: | ||||
Total assets | 25,923,490 | 24,252,100 | ||
Cash and cash equivalents | 752,369 | 1,036,151 | ||
Marketable securities | 0 | 0 | ||
Trade receivables | 2,070,824 | 2,455,365 | ||
Derivative financial instruments | 2,835,980 | 911,874 | ||
Inventories | 3,068,435 | 3,007,893 | ||
Sector financial assets | 0 | |||
Other financial assets | 0 | 0 | ||
Other current assets | 3,526,980 | 3,506,579 | ||
Other non-current assets | 2,247,516 | 2,014,958 | ||
Investments in associates | 3,299,738 | 2,612,576 | ||
Investments in joint ventures | 769,252 | 727,936 | ||
Biological assets | 0 | 0 | ||
Contract asset | 2,241,618 | 2,736,589 | ||
Right-of-use assets | 86,737 | 97,374 | ||
Property, plant and equipment | 2,544,094 | 2,595,878 | ||
Intangible assets and goodwill | 2,479,947 | 2,548,927 | ||
Liabilities | (19,568,358) | (19,173,669) | ||
Loans, borrowings and debentures | (6,258,929) | (5,745,735) | ||
Derivative financial instruments | (246,237) | (325,018) | ||
Trade payables | (5,203,174) | (2,568,885) | ||
Employee benefits payables | (85,993) | (77,692) | ||
Sector financial liabilities | 0 | |||
Other current liabilities | (2,729,837) | (5,859,807) | ||
Preferred shareholders payable in subsidiaries | 0 | 0 | ||
Lease | (101,500) | (103,807) | ||
Other non-current liabilities | (4,942,688) | (4,492,725) | ||
Total assets (net of liabilities) allocated by segment | 6,355,132 | 5,078,431 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 6,075,393 | 4,808,076 | ||
Non-controlling interests | 279,739 | 270,355 | ||
Total shareholders' equity | 6,355,132 | 5,078,431 | ||
Operating segments [member] | Raizen Combustiveis [member] | ARGENTINA [member] | ||||
Statement of financial position: | ||||
Total assets | 7,344,448 | 6,549,006 | ||
Cash and cash equivalents | 396,039 | 266,309 | ||
Marketable securities | 0 | 0 | ||
Trade receivables | 358,816 | 442,204 | ||
Derivative financial instruments | 0 | 5,164 | ||
Inventories | 1,274,045 | 1,099,632 | ||
Sector financial assets | 0 | |||
Other financial assets | 0 | 0 | ||
Other current assets | 769,740 | 872,413 | ||
Other non-current assets | 61,018 | 24,095 | ||
Investments in associates | 356 | 276 | ||
Investments in joint ventures | 0 | 0 | ||
Biological assets | 0 | 0 | ||
Contract asset | 95,840 | 48,985 | ||
Right-of-use assets | 425,391 | 476,251 | ||
Property, plant and equipment | 3,953,982 | 3,304,040 | ||
Intangible assets and goodwill | 9,221 | 9,637 | ||
Liabilities | (4,044,354) | (3,936,154) | ||
Loans, borrowings and debentures | (781,703) | (912,807) | ||
Derivative financial instruments | (15,155) | 0 | ||
Trade payables | (863,672) | (943,789) | ||
Employee benefits payables | (65,269) | (48,752) | ||
Sector financial liabilities | 0 | |||
Other current liabilities | (1,186,505) | (856,185) | ||
Preferred shareholders payable in subsidiaries | 0 | 0 | ||
Lease | (387,074) | (439,860) | ||
Other non-current liabilities | (744,976) | (734,761) | ||
Total assets (net of liabilities) allocated by segment | 3,300,094 | 2,612,852 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 3,300,094 | 2,612,852 | ||
Non-controlling interests | 0 | 0 | ||
Total shareholders' equity | 3,300,094 | 2,612,852 | ||
Operating segments [member] | Gas and Energy [Member] | ||||
Statement of financial position: | ||||
Total assets | 15,027,675 | 12,038,100 | ||
Cash and cash equivalents | 1,899,533 | 1,083,410 | ||
Marketable securities | 1,188,625 | 200,233 | ||
Trade receivables | 1,121,612 | 987,397 | ||
Derivative financial instruments | 517,181 | 374,730 | ||
Inventories | 121,064 | 89,586 | ||
Sector financial assets | 241,749 | |||
Other financial assets | 0 | 0 | ||
Other current assets | 276,139 | 315,744 | ||
Other non-current assets | 169,905 | 90,662 | ||
Investments in associates | 0 | 0 | ||
Investments in joint ventures | 0 | 0 | ||
Biological assets | 0 | 0 | ||
Contract asset | 686,690 | 594,602 | ||
Right-of-use assets | 19,865 | 10,128 | ||
Property, plant and equipment | 15,326 | 0 | ||
Intangible assets and goodwill | 8,769,986 | 8,291,608 | ||
Liabilities | (11,681,752) | (9,151,581) | ||
Loans, borrowings and debentures | (7,043,909) | (5,244,942) | ||
Derivative financial instruments | (286,018) | 0 | ||
Trade payables | (1,182,111) | (1,154,206) | ||
Employee benefits payables | (74,543) | (59,928) | ||
Sector financial liabilities | (565,911) | |||
Other current liabilities | (662,779) | (683,555) | ||
Preferred shareholders payable in subsidiaries | 0 | 0 | ||
Lease | (10,320) | (10,843) | ||
Other non-current liabilities | (1,856,161) | (1,998,107) | ||
Total assets (net of liabilities) allocated by segment | 3,345,923 | 2,886,519 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 3,288,315 | 2,861,954 | ||
Non-controlling interests | 57,608 | 24,565 | ||
Total shareholders' equity | 3,345,923 | 2,886,519 | ||
Operating segments [member] | Moove [member] | ||||
Statement of financial position: | ||||
Total assets | 4,439,453 | 3,499,109 | ||
Cash and cash equivalents | 936,345 | 610,605 | ||
Marketable securities | 168,066 | 43,856 | ||
Trade receivables | 483,227 | 427,714 | ||
Derivative financial instruments | 28,463 | 17,005 | ||
Inventories | 564,836 | 449,211 | ||
Sector financial assets | 0 | |||
Other financial assets | 69,126 | 134,636 | ||
Other current assets | 146,166 | 165,070 | ||
Other non-current assets | 398,796 | 150,683 | ||
Investments in associates | 0 | 365 | ||
Investments in joint ventures | 0 | 0 | ||
Biological assets | 0 | 0 | ||
Contract asset | 9,248 | 5,939 | ||
Right-of-use assets | 39,550 | 22,592 | ||
Property, plant and equipment | 327,535 | 310,007 | ||
Intangible assets and goodwill | 1,268,095 | 1,161,426 | ||
Liabilities | (2,473,884) | (1,911,413) | ||
Loans, borrowings and debentures | (802,938) | (670,263) | ||
Derivative financial instruments | (348) | (1,801) | ||
Trade payables | (688,139) | (515,759) | ||
Employee benefits payables | (96,192) | (70,068) | ||
Sector financial liabilities | 0 | |||
Other current liabilities | (290,827) | (217,705) | ||
Preferred shareholders payable in subsidiaries | 0 | 0 | ||
Lease | (41,299) | (27,431) | ||
Other non-current liabilities | (554,141) | (408,386) | ||
Total assets (net of liabilities) allocated by segment | 1,965,569 | 1,587,696 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 1,367,157 | 1,107,136 | ||
Non-controlling interests | 598,412 | 480,560 | ||
Total shareholders' equity | 1,965,569 | 1,587,696 | ||
Operating segments [member] | Logistics [member] | ||||
Statement of financial position: | ||||
Total assets | 45,912,604 | 32,838,038 | ||
Cash and cash equivalents | 7,778,612 | 1,963,018 | ||
Marketable securities | 1,396,723 | 1,751,853 | ||
Trade receivables | 428,492 | 399,249 | ||
Derivative financial instruments | 3,988,524 | 1,624,023 | ||
Inventories | 249,318 | 248,456 | ||
Sector financial assets | 0 | |||
Other financial assets | 0 | 0 | ||
Other current assets | 685,659 | 604,988 | ||
Other non-current assets | 2,613,480 | 2,638,286 | ||
Investments in associates | 50,715 | 52,012 | ||
Investments in joint ventures | 0 | 0 | ||
Biological assets | 0 | 0 | ||
Contract asset | 0 | 0 | ||
Right-of-use assets | 7,823,401 | 4,410,952 | ||
Property, plant and equipment | 13,646,248 | 11,770,168 | ||
Intangible assets and goodwill | 7,251,432 | 7,375,033 | ||
Liabilities | (32,359,866) | (24,222,467) | ||
Loans, borrowings and debentures | (21,656,908) | (11,720,477) | ||
Derivative financial instruments | 0 | (482) | ||
Trade payables | (754,546) | (513,325) | ||
Employee benefits payables | (139,058) | (216,685) | ||
Sector financial liabilities | 0 | |||
Other current liabilities | (950,582) | (711,305) | ||
Preferred shareholders payable in subsidiaries | 0 | 0 | ||
Lease | (2,912,317) | (4,529,139) | ||
Other non-current liabilities | (5,946,455) | (6,531,054) | ||
Total assets (net of liabilities) allocated by segment | 13,552,738 | 8,615,571 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 2,150,052 | 1,746,668 | ||
Non-controlling interests | 11,402,686 | 6,868,903 | ||
Total shareholders' equity | 13,552,738 | 8,615,571 | ||
Unallocated amounts [member] | Cosan Corporate [member] | ||||
Statement of financial position: | ||||
Total assets | 33,324,494 | 31,055,233 | ||
Cash and cash equivalents | 3,028,428 | 4,815,241 | ||
Marketable securities | 915,695 | 1,119,561 | ||
Trade receivables | 110 | 34 | ||
Derivative financial instruments | 3,606,532 | 1,808,652 | ||
Inventories | 46 | 69 | ||
Sector financial assets | 0 | |||
Other financial assets | 0 | 17,127 | ||
Other current assets | 1,938,096 | 1,307,712 | ||
Other non-current assets | 1,566,428 | 1,562,823 | ||
Investments in associates | 14,149,214 | 12,760,443 | ||
Investments in joint ventures | 7,988,208 | 7,548,960 | ||
Biological assets | 0 | 0 | ||
Contract asset | 0 | 0 | ||
Right-of-use assets | 33,414 | 26,058 | ||
Property, plant and equipment | 79,397 | 72,961 | ||
Intangible assets and goodwill | 18,926 | 15,592 | ||
Liabilities | (17,553,779) | (15,469,425) | ||
Loans, borrowings and debentures | (12,745,705) | (11,416,533) | ||
Derivative financial instruments | (159,695) | (78,768) | ||
Trade payables | (5,258) | (6,974) | ||
Employee benefits payables | (26,673) | (34,656) | ||
Sector financial liabilities | 0 | |||
Other current liabilities | (2,006,371) | (1,113,182) | ||
Preferred shareholders payable in subsidiaries | (387,044) | (611,537) | ||
Lease | (37,911) | (27,475) | ||
Other non-current liabilities | (2,185,122) | (2,180,300) | ||
Total assets (net of liabilities) allocated by segment | 15,770,715 | 15,585,808 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 12,270,637 | 5,401,865 | ||
Non-controlling interests | 3,500,078 | 10,183,943 | ||
Total shareholders' equity | 15,770,715 | 15,585,808 | ||
Deconsolidation effects IFRS 11 [member] | ||||
Statement of financial position: | ||||
Total assets | (78,249,390) | (73,644,466) | ||
Cash and cash equivalents | (3,441,914) | (4,017,515) | ||
Marketable securities | 0 | 0 | ||
Trade receivables | (4,265,296) | (4,032,648) | ||
Derivative financial instruments | (7,740,560) | (3,056,278) | ||
Inventories | (8,317,566) | (8,699,953) | ||
Sector financial assets | 0 | |||
Other financial assets | (160,600) | (602,542) | ||
Other current assets | (9,158,994) | (11,504,324) | ||
Other non-current assets | (7,682,618) | (6,235,219) | ||
Investments in associates | (3,300,094) | (2,612,852) | ||
Investments in joint ventures | (1,305,792) | (1,304,944) | ||
Biological assets | (1,073,582) | (734,495) | ||
Contract asset | (2,337,458) | (2,785,574) | ||
Right-of-use assets | (5,210,366) | (4,591,128) | ||
Property, plant and equipment | (18,165,518) | (17,242,244) | ||
Intangible assets and goodwill | (6,089,032) | (6,224,750) | ||
Liabilities | 58,536,284 | 55,517,410 | ||
Loans, borrowings and debentures | 24,557,518 | 22,312,247 | ||
Derivative financial instruments | 4,764,258 | 1,747,941 | ||
Trade payables | 9,311,282 | 8,614,148 | ||
Employee benefits payables | 534,376 | 486,858 | ||
Sector financial liabilities | 0 | |||
Other current liabilities | 6,930,628 | 11,033,601 | ||
Preferred shareholders payable in subsidiaries | 0 | 0 | ||
Lease | 4,734,770 | 4,048,168 | ||
Other non-current liabilities | 7,703,452 | 7,274,447 | ||
Total assets (net of liabilities) allocated by segment | (19,713,106) | (18,127,056) | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | (19,343,378) | (17,778,980) | ||
Non-controlling interests | (369,728) | (348,076) | ||
Total shareholders' equity | (19,713,106) | (18,127,056) | ||
Elimination of intersegment amounts [member] | ||||
Statement of financial position: | ||||
Total assets | (14,990,661) | (13,712,606) | ||
Cash and cash equivalents | 0 | 0 | ||
Marketable securities | 0 | 0 | ||
Trade receivables | 0 | 0 | ||
Derivative financial instruments | 0 | 0 | ||
Inventories | 0 | 0 | ||
Sector financial assets | 0 | |||
Other financial assets | 0 | 0 | ||
Other current assets | (764,392) | (789,265) | ||
Other non-current assets | (410,191) | (488,228) | ||
Investments in associates | (13,816,078) | (12,435,113) | ||
Investments in joint ventures | 0 | 0 | ||
Biological assets | 0 | 0 | ||
Contract asset | 0 | 0 | ||
Right-of-use assets | 0 | 0 | ||
Property, plant and equipment | 0 | 0 | ||
Intangible assets and goodwill | 0 | 0 | ||
Liabilities | 1,174,583 | 1,277,493 | ||
Loans, borrowings and debentures | 0 | 0 | ||
Derivative financial instruments | 0 | 0 | ||
Trade payables | 0 | 0 | ||
Employee benefits payables | 0 | 0 | ||
Sector financial liabilities | 0 | |||
Other current liabilities | 204,366 | 471,621 | ||
Preferred shareholders payable in subsidiaries | 0 | 0 | ||
Lease | 0 | 0 | ||
Other non-current liabilities | 970,217 | 805,872 | ||
Total assets (net of liabilities) allocated by segment | (13,816,078) | (12,435,113) | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | (13,816,078) | (5,715,758) | ||
Non-controlling interests | 0 | (6,719,355) | ||
Total shareholders' equity | R$ 13816078 | R$ 12435113 |
Segment Information - Summary_3
Segment Information - Summary of Net Sales by Customer by Segment (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Revenue | R$ 20437835 | R$ 20611409 | R$ 16834768 |
Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 9,093,170 | 9,514,222 | 6,840,011 |
Operating segments [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 8,317,691 | 9,514,222 | 6,840,011 |
Operating segments [member] | Electricity distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 775,479 | 0 | 0 |
Operating segments [member] | Cogeneration [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 389,732 | 437,327 | 315,925 |
Operating segments [member] | Other [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 59,104 | 64,660 | 60,641 |
Operating segments [member] | Industrial [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 5,030,738 | 6,045,600 | 4,411,737 |
Operating segments [member] | Residential [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,381,597 | 1,295,107 | 986,073 |
Operating segments [member] | Automotive [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 220,130 | 350,637 | 262,813 |
Operating segments [member] | Construction revenue [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 885,630 | 813,341 | 415,753 |
Operating segments [member] | Commercial [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 350,760 | 507,550 | 387,069 |
Operating segments [member] | Raizen Energia S.A. [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 31,661,546 | 28,835,309 | 19,798,546 |
Operating segments [member] | Raizen Energia S.A. [member] | Ethanol [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 12,372,878 | 11,388,766 | 8,569,437 |
Operating segments [member] | Raizen Energia S.A. [member] | Sugar [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 10,241,141 | 3,925,499 | 3,670,749 |
Operating segments [member] | Raizen Energia S.A. [member] | Cogeneration [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 2,282,158 | 3,934,639 | 2,836,658 |
Operating segments [member] | Raizen Energia S.A. [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 483,136 | 149,573 | 648,753 |
Operating segments [member] | Raizen Energia S.A. [member] | Gas [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,655,484 | 2,967,137 | 758,572 |
Operating segments [member] | Raizen Energia S.A. [member] | Diesel [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 4,626,749 | 6,469,695 | 3,314,377 |
Operating segments [member] | Raizen Combustiveis [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 86,388,176 | 100,514,154 | 85,204,091 |
Operating segments [member] | Raizen Combustiveis [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,045,434 | 1,513,492 | 1,172,254 |
Operating segments [member] | Raizen Combustiveis [member] | Fuels [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 85,342,742 | 99,000,662 | 84,031,837 |
Operating segments [member] | Gas and Energy [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 9,093,170 | 9,514,222 | 6,840,011 |
Operating segments [member] | Moove [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 4,415,575 | 4,046,296 | 3,449,949 |
Operating segments [member] | Moove [member] | Finished goods [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 3,891,551 | 3,786,636 | 3,096,658 |
Operating segments [member] | Moove [member] | Basic oil [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 392,153 | 194,353 | 317,878 |
Operating segments [member] | Moove [member] | Services [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 131,871 | 65,307 | 35,413 |
Operating segments [member] | Logistics [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 6,966,159 | 7,087,840 | 6,584,937 |
Operating segments [member] | Logistics [member] | North Operation [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 5,270,436 | 5,313,757 | 4,913,437 |
Operating segments [member] | Logistics [member] | South Operation [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,409,872 | 1,478,314 | 1,412,300 |
Operating segments [member] | Logistics [member] | Container Operations [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 285,851 | 295,769 | 259,200 |
Unallocated amounts [member] | Cosan Corporate [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 818 | 98 | (1) |
Deconsolidation of joint ventures, adjustments and eliminations [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | R$ 118087609 | R$ 129386510 | R$ 105042765 |
Segment Information - Summary_4
Segment Information - Summary of Information on Geographical Area (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of geographical areas [line items] | ||||
Net sales | R$ 20437835 | R$ 20611409 | R$ 16834768 | |
Non-current assets | 12,613,461 | 8,332,845 | ||
Brazil [member] | ||||
Disclosure of geographical areas [line items] | ||||
Net sales | 18,100,012 | 18,522,108 | 14,720,088 | |
Non-current assets | 12,577,376 | 8,238,016 | ||
Europe [member] | ||||
Disclosure of geographical areas [line items] | ||||
Net sales | [1] | 1,867,284 | 1,719,262 | 1,836,739 |
Non-current assets | [1] | 11,401 | 71,689 | |
Latin America [member] | ||||
Disclosure of geographical areas [line items] | ||||
Net sales | [2] | 360,798 | 184,981 | 157,287 |
Non-current assets | [2] | 0 | 0 | |
North America [member] | ||||
Disclosure of geographical areas [line items] | ||||
Net sales | 62,760 | 157,665 | 55,549 | |
Non-current assets | 24,684 | 23,140 | ||
Asia and Other [member] | ||||
Disclosure of geographical areas [line items] | ||||
Net sales | 46,981 | 27,393 | R$ 65105 | |
Non-current assets | R$ 0 | R$ 0 | ||
[1] | England, France, Spain and Portugal; and | |||
[2] | Argentina, Bolivia, Uruguay and Paraguay. |
Segment Information - Additiona
Segment Information - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Revenue from Major Customer | R$ 20437835 | R$ 20611409 | R$ 16834768 |
Major Customers [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from Major Customer | R$ 2939945 | R$ 773286 | R$ 912943 |
Financial Instruments - Summary
Financial Instruments - Summary of Carrying Amount of Financial Assets (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | R$ 28807488 | R$ 17574937 |
Fair value through profit or loss [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 14,034,381 | 10,370,846 |
Fair value through profit or loss [member] | Cash and cash equivalents [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,155,446 | 3,279,170 |
Fair value through profit or loss [member] | Marketable securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,669,109 | 3,115,503 |
Fair value through profit or loss [member] | Derivate financial instruments [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8,140,700 | 3,824,410 |
Fair value through profit or loss [member] | Other financial assets [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 69,126 | 151,763 |
Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 14,773,107 | 7,204,091 |
Financial assets at amortised cost, category [member] | Cash and cash equivalents [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 11,487,472 | 5,193,104 |
Financial assets at amortised cost, category [member] | Trade receivables [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,033,441 | 1,814,394 |
Financial assets at amortised cost, category [member] | Receivables from related parties [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 929,690 | 173,341 |
Financial assets at amortised cost, category [member] | Sector financial assets [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 241,749 | 0 |
Financial assets at amortised cost, category [member] | Dividend receivable [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | R$ 80755 | R$ 23252 |
Financial Instruments - Summa_2
Financial Instruments - Summary of Carrying Amount of Financial Liabilities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | R$ 53176950 | R$ 38078126 |
Liabilities amortized cost [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (33,650,522) | (21,442,539) |
Liabilities amortized cost [member] | Loans, borrowings and debentures [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (23,393,880) | (12,682,049) |
Liabilities amortized cost [member] | Leases [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (3,001,847) | (4,594,888) |
Liabilities amortized cost [member] | Trade payables [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (2,630,054) | (2,190,264) |
Liabilities amortized cost [member] | Other financial liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (594,188) | (543,879) |
Liabilities amortized cost [member] | Payables to related parties [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (307,080) | (392,458) |
Liabilities amortized cost [member] | Railroad concession payable [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (1,154,919) | 0 |
Liabilities amortized cost [member] | Preferred shareholders payable in subsidiaries [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (387,044) | (611,537) |
Liabilities amortized cost [member] | Dividends payable [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (1,413,222) | (214,104) |
Liabilities amortized cost [member] | Sector financial liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (565,911) | 0 |
Liabilities amortized cost [member] | REFIS [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (202,377) | (213,360) |
Fair value through profit or loss [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (19,526,428) | (16,635,587) |
Fair value through profit or loss [member] | Loans, borrowings and debentures [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (18,855,580) | (16,370,166) |
Fair value through profit or loss [member] | Contingent consideration [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (224,787) | (184,370) |
Fair value through profit or loss [member] | Derivate financial instruments [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | R$ 446061 | R$ 81051 |
Financial Assets and Liabilit_3
Financial Assets and Liabilities - Summary of Cash and Cash Equivalents (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Cash and cash equivalents [abstract] | ||||
Cash and bank accounts | R$ 4134074 | R$ 363084 | ||
Savings account | 986,379 | 885,740 | ||
Financial investments | 8,522,465 | 7,223,450 | ||
Cash and cash equivalents | R$ 13642918 | R$ 8472274 | R$ 3621798 | R$ 4555177 |
Financial Assets and Liabilit_4
Financial Assets and Liabilities - Summary of Financial Investments (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and cash equivalents1 [line items] | ||
Financial investments | R$ 8522465 | R$ 7223450 |
Investment funds [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 2,155,446 | 3,279,170 |
Investment funds [member] | Repurchase agreements [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 1,672,688 | 2,799,706 |
Investment funds [member] | CDB [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 475,213 | 479,464 |
Investment funds [member] | Other [Member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 7,545 | 0 |
Bank investments [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 6,367,019 | 3,944,280 |
Bank investments [member] | Repurchase agreements [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 1,293,833 | 1,400,735 |
Bank investments [member] | CDB [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 5,015,244 | 2,340,125 |
Bank investments [member] | Other [Member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | R$ 57942 | R$ 203420 |
Financial Assets and Liabilit_5
Financial Assets and Liabilities - Additional information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Jun. 27, 2014 | |
Disclosure of Financial Resources [line items] | |||
Non-voting preferred shares paid in amount | R$ 2000000 | ||
Inter Bank Deposit Certificate [member] | |||
Disclosure of Financial Resources [line items] | |||
Onshore financial investments remunerated rate | 97.00% | 100.00% | |
Fed Funds [member] | |||
Disclosure of Financial Resources [line items] | |||
Offshore financial investments remunerated rate | 100.00% | ||
Bottom of range [member] | |||
Disclosure of Financial Resources [line items] | |||
Hedged risk position percentage | 60.00% | ||
Lessee’s incremental borrowing rate applied to the lease liabilities | 10.90% | ||
Top of range [member] | |||
Disclosure of Financial Resources [line items] | |||
Hedged risk position percentage | 140.00% | ||
Lessee’s incremental borrowing rate applied to the lease liabilities | 14.20% | ||
Rumo S.A. [member] | BNDES [member] | |||
Disclosure of Financial Resources [line items] | |||
Unused line of credit | R$ 487378 | R$ 1946195 | |
Cosan Logistica S.A. [member] | Three Brazilian financial institutions [member] | |||
Disclosure of Financial Resources [line items] | |||
Unused line of credit | R$ 250000 | R$ 501000 |
Financial Assets and Liabilit_6
Financial Assets and Liabilities - Summary of Marketable Securities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of Marketable Securities [line items] | |||
Marketable securities | R$ 3669109 | R$ 3115503 | |
Government security [member] | |||
Disclosure of Marketable Securities [line items] | |||
Marketable securities | [1] | 3,543,886 | 2,719,630 |
CDB [member] | |||
Disclosure of Marketable Securities [line items] | |||
Marketable securities | 116,963 | 125,413 | |
Repurchase agreements [Member] | |||
Disclosure of Marketable Securities [line items] | |||
Marketable securities | R$ 8260 | R$ 270460 | |
[1] | Government securities have stated interest connected to Special System for Settlement and Custody (Sistema Especial de Liquidação e de Custódia), or “Selic,” and maturities between twoand five years with daily liquidity. |
Financial Assets and Liabilit_7
Financial Assets and Liabilities - Summary of Restricted Cash (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Restricted Cash and Cash Equivalents [line items] | ||
Restricted cash | R$ 34562 | R$ 147910 |
Investments linked to loans [member] | ||
Disclosure of Restricted Cash and Cash Equivalents [line items] | ||
Restricted cash | 0 | 86,681 |
Securities pledged as collateral [member] | ||
Disclosure of Restricted Cash and Cash Equivalents [line items] | ||
Restricted cash | R$ 34562 | R$ 61229 |
Financial Assets and Liabilit_8
Financial Assets and Liabilities - Summary of Trade Receivables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of Trade Receivables [line items] | |||
Trade receivables | R$ 2033441 | R$ 1814394 | |
Current | 2,007,140 | 1,786,095 | |
Non-current | 26,301 | 28,299 | |
Cost [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | 2,169,465 | 1,934,801 | |
Expected credit losses [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | [1] | (136,024) | (120,407) |
Unbilled receivables | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | [2] | 667,793 | 622,572 |
Domestic - Brazilian Reais [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | 1,432,805 | 1,251,828 | |
Export - Foreign currency [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | R$ 68867 | R$ 60401 | |
[1] | Of the total recognized, the amount of R$14,000 was added by revising the expected loss as a consequence of COVID-19pandemic, as detailed in Note 2.1. | ||
[2] | Accrued unbilled revenue based on estimated amounts of natural gas and electricity delivered but not yet billed to customers. See accounting policy in Note 21. |
Financial Assets and Liabilit_9
Financial Assets and Liabilities - Summary of Trade Receivables (Parenthetical) (Detail) R$ in Thousands | 12 Months Ended |
Dec. 31, 2020BRL (R$) | |
Expected credit losses [member] | |
Disclosure of Trade receivables [line items] | |
Reversal of expected loss as a consequence of COVID-19 pandemic | R$ 14000 |
Financial Assets and Liabili_10
Financial Assets and Liabilities - Summary of Ageing of Trade Receivables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of Trade Receivables [line items] | |||
Trade receivables | R$ 2033441 | R$ 1814394 | |
Expected credit losses [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | [1] | (136,024) | (120,407) |
Not overdue [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | 1,814,202 | 1,552,912 | |
Overdue From 1 to 30 days [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | 166,467 | 175,112 | |
Overdue From 31 to 60 days [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | 23,169 | 32,925 | |
Overdue From 61 to 90 days [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | 14,156 | 36,337 | |
More than 90 days [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | R$ 151471 | R$ 137515 | |
[1] | Of the total recognized, the amount of R$14,000 was added by revising the expected loss as a consequence of COVID-19pandemic, as detailed in Note 2.1. |
Financial Assets and Liabili_11
Financial Assets and Liabilities - Summary of Changes in Expected Credit Losses (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Trade Receivables [abstract] | ||
Beginning balance | R$ 120407 | R$ 125584 |
Provision / reversal | 39,187 | 32,041 |
Write-off | 23,570 | 37,218 |
Ending balance | R$ 136024 | R$ 120407 |
Financial Assets and Liabili_12
Financial Assets and Liabilities - Summary of Receivables from and Payables to Related Parties (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | R$ 680049 | R$ 58619 | |
Receivables from related parties, non-current | 249,641 | 114,722 | |
Total assets | 929,690 | 173,341 | |
Payables to related parties | 307,080 | 392,458 | |
Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | 680,049 | 58,619 | |
Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | 249,641 | 114,722 | |
Corporate operation agreements [member] | |||
Disclosure of receivables and payables [line items] | |||
Payables to related parties | 302,246 | 392,458 | |
Corporate operation agreements [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | 103,092 | 58,619 | |
Corporate operation agreements [member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | 94,466 | 36,410 | |
Corporate operation agreements [member] | Raizen Energia S.A. [member] | |||
Disclosure of receivables and payables [line items] | |||
Payables to related parties | [1] | 146,722 | 262,612 |
Corporate operation agreements [member] | Raizen Energia S.A. [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | [1] | 73,913 | 50,296 |
Corporate operation agreements [member] | Raizen Combustiveis S A [member] | |||
Disclosure of receivables and payables [line items] | |||
Payables to related parties | [1] | 154,366 | 127,773 |
Corporate operation agreements [member] | Raizen Combustiveis S A [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | [1] | 11,171 | 7,588 |
Corporate operation agreements [member] | Raizen Combustiveis S A [member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | [1] | 45,895 | 36,410 |
Corporate operation agreements [member] | Aguassanta Participacoes S.A. [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | 837 | 444 | |
Corporate operation agreements [member] | Other [member] | |||
Disclosure of receivables and payables [line items] | |||
Payables to related parties | 1,158 | 2,073 | |
Corporate operation agreements [member] | Other [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | 17,171 | 291 | |
Corporate operation agreements [member] | Other [member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | 48,571 | 0 | |
Preferred shares [member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | 155,175 | 78,312 | |
Preferred shares [member] | Raizen Energia S.A. [member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | [1] | 155,175 | 78,304 |
Preferred shares [member] | Janus Brasil Participacoes S.A. [member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | 0 | 8 | |
Financial operations [member] | |||
Disclosure of receivables and payables [line items] | |||
Payables to related parties | 4,834 | 0 | |
Financial operations [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | 576,957 | 0 | |
Financial operations [member] | Raizen Energia S.A. [member] | |||
Disclosure of receivables and payables [line items] | |||
Payables to related parties | 4,834 | 0 | |
Financial operations [member] | Aguassanta Participacoes S.A. [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | [2] | R$ 576957 | R$ 0 |
[1] | Current and non-current assets receivable from Raízen Energia and Raízen Combustíveis are, primarily, tax credits which will be reimbursed to the Company when realized. The preferred shares are used to Raízen reimburse Cosan, with preferential dividends, when the net operating loss is consumed in Raízen. Current liabilities represent reimburse to Raízen Energia and Raízen Combustíveis related to expenses regarding legal disputes and other liabilities, generated before the formation of joint ventures, which are responsibility of Cosan S.A. | ||
[2] | On December 11, 2020, the Company disposal13,021,744shares that were held in treasury toAguassantaInvestimentosS.A. (“Aguassanta”) paid on January 8, 2021. |
Financial Assets and Liabili_13
Financial Assets and Liabilities - Summary of Receivables from and Payables to Related Parties (Parenthetical) (Detail) | Dec. 11, 2020shares |
Aguassanta Investimentos S.A. | |
Disclosure of receivables and payables [line items] | |
Disposal of shares that were held in treasury | 13,021,744 |
Financial Assets and Liabili_14
Financial Assets and Liabilities - Summary of Related Party Transactions (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of receivables and payables [line items] | |||
Shared expense | R$ 81018 | R$ 71978 | R$ 73105 |
Total | (536,552) | (786,727) | (766,610) |
Other [member] | |||
Disclosure of receivables and payables [line items] | |||
Revenue | 675,704 | 527,359 | 508,660 |
Financial Result [Member] | |||
Disclosure of receivables and payables [line items] | |||
Finance result | 6,392 | 5,683 | 6,738 |
Raizen International Universal Corporation | |||
Disclosure of receivables and payables [line items] | |||
Revenue | 5,143 | 0 | 0 |
Raizen Energia S.A. [member] | |||
Disclosure of receivables and payables [line items] | |||
Revenue | 483,934 | 298,980 | 304,648 |
Purchase of goods / inputs / services | (6,160) | (7,010) | (3,672) |
Shared expense | (81,018) | (71,978) | (73,105) |
Finance result | 4 | 0 | 4,100 |
Raizen Combustiveis S A [member] | |||
Disclosure of receivables and payables [line items] | |||
Revenue | 186,359 | 221,369 | 188,895 |
Purchase of goods / inputs / services | (1,130,531) | (1,240,781) | (1,205,231) |
Finance result | 6,341 | 5,729 | 0 |
Other [member] | |||
Disclosure of receivables and payables [line items] | |||
Revenue | 268 | 7,010 | 15,117 |
Purchase of goods / inputs / services | (939) | 0 | 0 |
Finance result | 47 | (5) | 2,879 |
Usina Santa Luiza [member] | |||
Disclosure of receivables and payables [line items] | |||
Finance result | 0 | (41) | (241) |
Purchase Of Goods [Member] | |||
Disclosure of receivables and payables [line items] | |||
Purchase of goods / inputs / services | R$ 1137630 | R$ 1247791 | R$ 1208903 |
Financial Assets and Liabili_15
Financial Assets and Liabilities - Summary of Officers' and Directors' Compensation (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of transactions between related parties [abstract] | |||
Short-term benefits to officers and directors | R$ 102250 | R$ 88440 | R$ 86810 |
Share-based payment transactions | 15,441 | 16,823 | 11,423 |
Post-employment benefits | 1,045 | 728 | 2,216 |
Officers' and directors' compensation | R$ 118736 | R$ 105991 | R$ 100449 |
Financial Assets and Liabili_16
Financial Assets and Liabilities - Summary of Loans, Borrowings and Debentures (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about borrowings [line items] | |||
Total | R$ 42249460 | R$ 29052215 | R$ 22574313 |
Current | 4,929,069 | 3,518,225 | |
Non-current | R$ 37320391 | 25,533,990 | |
Weighted average | |||
Disclosure of detailed information about borrowings [line items] | |||
Annual interest | 4.55% | ||
CDI | Weighted average | |||
Disclosure of detailed information about borrowings [line items] | |||
Annual interest | 1.90% | ||
Secured | |||
Disclosure of detailed information about borrowings [line items] | |||
Loans, borrowings and debentures | R$ 5147093 | R$ 3712596 | |
Secured | TJLP | Weighted average | |||
Disclosure of detailed information about borrowings [line items] | |||
Annual interest | 4.87% | 5.57% | |
Secured | CDI | Weighted average | |||
Disclosure of detailed information about borrowings [line items] | |||
Annual interest | 2.78% | 5.94% | |
Secured | BNDES | June-2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | TJLP + 2.00% | ||
Annual interest | 7.09% | ||
Maturity | Jun-2023 | ||
Loans, borrowings and debentures | R$ 0 | R$ 83174 | |
Objective | Investment | ||
Secured | BNDES | TJLP | June-2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | TJLP | ||
Annual interest | 5.09% | ||
Maturity | Jun-2023 | ||
Loans, borrowings and debentures | R$ 0 | 1,667 | |
Objective | Investment | ||
Secured | BNDES | URTJLP | December-2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | URTJLP | ||
Annual interest | 6.63% | ||
Maturity | Dec-2029 | ||
Loans, borrowings and debentures | R$ 3321839 | 2,213,704 | |
Objective | Investment | ||
Secured | BNDES | URTJLP | March-2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | URTJLP | ||
Annual interest | 10.34% | ||
Maturity | Mar-2022 | ||
Loans, borrowings and debentures | R$ 396 | 4,952 | |
Objective | Investment | ||
Secured | BNDES | Fixed | January-2025 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Fixed | ||
Annual interest | 5.61% | ||
Maturity | Jan-2025 | ||
Loans, borrowings and debentures | R$ 647435 | 834,039 | |
Objective | Investment | ||
Secured | BNDES | Fixed | January-2024 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Fixed | ||
Annual interest | 3.50% | ||
Maturity | Jan-2024 | ||
Loans, borrowings and debentures | R$ 1077 | 1,426 | |
Objective | Investment | ||
Secured | BNDES | TJ462 + 1.80% | October-2020 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | TJ462 + 1.80% | ||
Annual interest | 7.89% | ||
Maturity | Oct-2020 | ||
Loans, borrowings and debentures | R$ 0 | 144,573 | |
Objective | Investment | ||
Secured | BNDES | Selic + 1.80% | October-2020 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Selic + 1.80% | ||
Annual interest | 5.52% | ||
Maturity | Oct-2020 | ||
Loans, borrowings and debentures | R$ 0 | 73,540 | |
Objective | Investment | ||
Secured | BNDES | Selic | September-2020 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Selic | ||
Annual interest | 3.52% | ||
Maturity | Sep-2020 | ||
Loans, borrowings and debentures | R$ 0 | 1,118 | |
Objective | Investment | ||
Secured | BNDES | Selic + 1.96% | June-2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Selic + 1.96% | ||
Annual interest | 5.68% | ||
Maturity | Jun-2023 | ||
Loans, borrowings and debentures | R$ 0 | 52,031 | |
Objective | Investment | ||
Secured | BNDES | IPCA [member] | November-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA | ||
Annual interest | 7.46% | ||
Maturity | Nov-2021 | ||
Loans, borrowings and debentures | R$ 796 | 1,528 | |
Objective | Investment | ||
Secured | BNDES | IPCA + 3.25% | April-2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 3.25% | ||
Annual interest | 7.75% | ||
Maturity | Apr-2029 | ||
Loans, borrowings and debentures | R$ 807438 | 0 | |
Objective | Investment | ||
Secured | BNDES | IPCA + 4.10% | April-2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 4.10% | ||
Annual interest | 8.64% | ||
Maturity | Apr-2029 | ||
Loans, borrowings and debentures | R$ 175374 | 0 | |
Objective | Investment | ||
Secured | Export credit agreement | Euribor + 0.58% | September-2026 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Euribor + 0.58% | ||
Annual interest | 0.58% | ||
Maturity | Sep-2026 | ||
Loans, borrowings and debentures | R$ 104108 | 79,528 | |
Objective | Investment | ||
Secured | European investment bank | U.S. Dollar + 3.88% | June-2020 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ + 3.88% | ||
Annual interest | 3.88% | ||
Maturity | Jun-2020 | ||
Loans, borrowings and debentures | R$ 0 | 31,770 | |
Objective | Investment | ||
Secured | European investment bank | U.S. Dollar + 2.94% | September-2020 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ + 2.94% | ||
Annual interest | 2.94% | ||
Maturity | Sep-2020 | ||
Loans, borrowings and debentures | R$ 0 | 29,081 | |
Objective | Investment | ||
Secured | European investment bank | U.S. Dollar + Libor 6-month + 0.54% | May-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ + Libor 6-month + 0.54% | ||
Annual interest | 0.80% | ||
Maturity | May-2021 | ||
Loans, borrowings and debentures | R$ 30817 | 71,129 | |
Objective | Investment | ||
Secured | European investment bank | U.S. Dollar + Libor 6-month + 0.61% | September-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ + Libor 6-month + 0.61% | ||
Annual interest | 0.89% | ||
Maturity | Sep-2021 | ||
Loans, borrowings and debentures | R$ 57813 | 89,336 | |
Objective | Investment | ||
Unsecured | |||
Disclosure of detailed information about borrowings [line items] | |||
Loans, borrowings and debentures | R$ 37102367 | 25,339,619 | |
Unsecured | Foreign loans | GBP + Libor 6-month + 1.50% | July-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | GBP + Libor 6-month + 1.50% | ||
Annual interest | 1.68% | ||
Maturity | Jul-2021 | ||
Loans, borrowings and debentures | R$ 143039 | 150,253 | |
Objective | Acquisition | ||
Unsecured | Foreign loans | GBP + Libor 6-month + 1.50% | December-2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | GBP + Libor 6-month + 1.50% | ||
Annual interest | 1.53% | ||
Maturity | Dec-2022 | ||
Loans, borrowings and debentures | R$ 248666 | 186,604 | |
Objective | Acquisition | ||
Unsecured | Foreign loans | GBP | Fixed | November-2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | GBP | Fixed | ||
Annual interest | 1.40% | ||
Maturity | Nov-2022 | ||
Loans, borrowings and debentures | R$ 35556 | 0 | |
Objective | Acquisition | ||
Unsecured | Foreign loans | GBP | Fixed | September-2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | EUR | Fixed | ||
Annual interest | 1.16% | ||
Maturity | Sep-2022 | ||
Loans, borrowings and debentures | R$ 2095 | 3,561 | |
Objective | Investment | ||
Unsecured | Foreign loans | GBP + Libor 6-month + 1.10% | December-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | GBP + Libor 6-month + 1.10% | ||
Annual interest | 1.21% | ||
Maturity | Dec-2021 | ||
Loans, borrowings and debentures | R$ 142091 | 106,643 | |
Objective | Acquisition | ||
Unsecured | Export Credit Note | CDI + 1.03% | February-2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 1.03% | ||
Annual interest | 3.12% | ||
Maturity | Feb-2023 | ||
Loans, borrowings and debentures | R$ 82185 | 0 | |
Objective | Investment | ||
Unsecured | Export Credit Note | CDI + 0.80% | December-2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 0.80% | ||
Annual interest | 2.72% | ||
Maturity | Dec-2023 | ||
Loans, borrowings and debentures | R$ 505061 | 512,078 | |
Objective | Investment | ||
Unsecured | Export Credit Note | CDI + 3.05% | March-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 3.05% | ||
Annual interest | 5.01% | ||
Maturity | Mar-2021 | ||
Loans, borrowings and debentures | R$ 208464 | 0 | |
Objective | Investment | ||
Unsecured | Export Credit Note | CDI + 3.15% | May-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 3.15% | ||
Annual interest | 5.11% | ||
Maturity | Mar-2021 | ||
Loans, borrowings and debentures | R$ 468516 | 0 | |
Objective | Investment | ||
Unsecured | Resolution 4131 | U.S. Dollar + Libor | February-2020 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ + Libor | ||
Annual interest | 2.90% | ||
Maturity | Feb-2020 | ||
Loans, borrowings and debentures | R$ 0 | 81,107 | |
Objective | Working capital | ||
Unsecured | Resolution 4131 | U.S. Dollar | October-2020 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ | ||
Annual interest | 4.79% | ||
Maturity | Oct-2020 | ||
Loans, borrowings and debentures | R$ 0 | 20,688 | |
Objective | Working capital | ||
Unsecured | Resolution 4131 | U.S. Dollar | Fixed | November-2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ | Fixed | ||
Annual interest | 1.60% | ||
Maturity | Nov-2022 | ||
Loans, borrowings and debentures | R$ 483625 | 217,537 | |
Objective | Working capital | ||
Unsecured | Resolution 4131 | CDI | April-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI | ||
Annual interest | 4.60% | ||
Maturity | Apr-2021 | ||
Loans, borrowings and debentures | R$ 206908 | 0 | |
Objective | Working capital | ||
Unsecured | Resolution 4131 | U.S. Dollar + 3.67% | March-2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ + 3.67% | ||
Annual interest | 3.67% | ||
Maturity | May-2023 | ||
Loans, borrowings and debentures | R$ 415232 | 313,493 | |
Objective | Investment | ||
Unsecured | Resolution 4131 | U.S. Dollar + 1.59% | April-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ + 1.59% | ||
Annual interest | 1.59% | ||
Maturity | Apr-2021 | ||
Loans, borrowings and debentures | R$ 388912 | 0 | |
Objective | Investment | ||
Unsecured | Banking credit certificates | IPCA + 0.81% | January-2048 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 0.81% | ||
Annual interest | 5.31% | ||
Maturity | Jan-2048 | ||
Loans, borrowings and debentures | R$ 239068 | 0 | |
Objective | Working capital | ||
Unsecured | Perpetual notes | U.S. Dollar | November-2040 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ | ||
Annual interest | 8.25% | ||
Maturity | Nov-2040 | ||
Loans, borrowings and debentures | R$ 2631100 | 2,040,752 | |
Objective | Acquisition | ||
Unsecured | Senior notes due 2023 | U.S. Dollar | Fixed | March-2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ | Fixed | ||
Annual interest | 5.00% | ||
Maturity | Mar-2023 | ||
Loans, borrowings and debentures | R$ 569466 | 438,985 | |
Objective | Acquisition | ||
Unsecured | Senior notes due 2024 | U.S. Dollar | Fixed | February-2024 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ | Fixed | ||
Annual interest | 7.38% | ||
Maturity | Feb-2024 | ||
Loans, borrowings and debentures | R$ 4514289 | 3,318,895 | |
Objective | Acquisition | ||
Unsecured | Senior notes due 2024 | U.S. Dollar | Fixed | September-2024 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ | Fixed | ||
Annual interest | 5.95% | ||
Maturity | Sep-2024 | ||
Loans, borrowings and debentures | R$ 1232844 | 903,636 | |
Objective | Acquisition | ||
Unsecured | Senior notes due 2025 | U.S. Dollar | Fixed | January-2025 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ | Fixed | ||
Annual interest | 5.88% | ||
Maturity | Jan-2025 | ||
Loans, borrowings and debentures | R$ 3067359 | 2,182,089 | |
Objective | Acquisition | ||
Unsecured | Senior notes due 2027 | U.S. Dollar | Fixed | January-2027 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ | Fixed | ||
Annual interest | 7.00% | ||
Maturity | Jan-2027 | ||
Loans, borrowings and debentures | R$ 4379812 | 3,234,648 | |
Objective | Acquisition | ||
Unsecured | Senior notes due 2028 | U.S. Dollar | Fixed | January-2028 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ | Fixed | ||
Annual interest | 5.25% | ||
Maturity | Jan-2028 | ||
Loans, borrowings and debentures | R$ 2640840 | 0 | |
Objective | Acquisition | ||
Unsecured | Senior notes due 2029 | U.S. Dollar | Fixed | September-2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | U.S.$ | Fixed | ||
Annual interest | 5.50% | ||
Maturity | Sep-2029 | ||
Loans, borrowings and debentures | R$ 3932483 | 3,071,052 | |
Objective | Acquisition | ||
Unsecured | Prepayment | Libor 3-month + 3.50% | March-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Libor 3-month + 3.50% | ||
Annual interest | 3.75% | ||
Maturity | Mar-2021 | ||
Loans, borrowings and debentures | R$ 27129 | 0 | |
Objective | Working capital | ||
Unsecured | Prepayment | Libor 3-month + 1.00% | November-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Libor 3-month + 1.00% | ||
Annual interest | 1.21% | ||
Maturity | Nov-2021 | ||
Loans, borrowings and debentures | R$ 104318 | 80,931 | |
Objective | Working capital | ||
Unsecured | Prepayment | Libor 12-month + 0.76% | October-2020 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Libor 12-month + 0.76% | ||
Annual interest | 2.72% | ||
Maturity | Oct-2020 | ||
Loans, borrowings and debentures | R$ 0 | 40,474 | |
Objective | Working capital | ||
Unsecured | Bank overdrafts | 125% of CDI | February-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | 125% of CDI | ||
Annual interest | 5.53% | ||
Maturity | Feb-2021 | ||
Loans, borrowings and debentures | R$ 4318 | 740 | |
Objective | Working capital | ||
Unsecured | Debentures | 106% of CDI | February-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | 106% of CDI | ||
Annual interest | 2.94% | ||
Maturity | Feb-2021 | ||
Loans, borrowings and debentures | R$ 0 | 1,727,459 | |
Objective | Working capital | ||
Unsecured | Debentures | IPCA + 4.68% | February-2026 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA +4.68% | ||
Annual interest | 9.24% | ||
Maturity | Feb-2026 | ||
Loans, borrowings and debentures | R$ 595847 | 570,098 | |
Objective | Investment | ||
Unsecured | Debentures | IPCA + 4.50% | February-2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA +4.50% | ||
Annual interest | 9.06% | ||
Maturity | Feb-2029 | ||
Loans, borrowings and debentures | R$ 739202 | 668,034 | |
Objective | Investment | ||
Unsecured | Debentures | IPCA + 5.57% | September-2020 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA +5.57% | ||
Annual interest | 7.29% | ||
Maturity | Sep-2020 | ||
Loans, borrowings and debentures | R$ 0 | 108,133 | |
Objective | Investment | ||
Unsecured | Debentures | CDI + 2.65% | August-2025 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 2.65% | ||
Annual interest | 4.60% | ||
Maturity | Aug-2025 | ||
Loans, borrowings and debentures | R$ 1740551 | 0 | |
Objective | Investment | ||
Unsecured | Debentures | IPCA + 6.80% | April-2030 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 6.80% | ||
Annual interest | 11.46% | ||
Maturity | Apr-2030 | ||
Loans, borrowings and debentures | R$ 803745 | 0 | |
Objective | Investment | ||
Unsecured | Debentures | IPCA + 3.90% | October-2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 3.90% | ||
Annual interest | 8.43% | ||
Maturity | Oct-2029 | ||
Loans, borrowings and debentures | R$ 1025777 | 895,249 | |
Objective | Investment | ||
Unsecured | Debentures | IPCA + 4.00% | October-2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 4.00% | ||
Annual interest | 8.53% | ||
Maturity | Oct-2029 | ||
Loans, borrowings and debentures | R$ 255501 | 219,466 | |
Objective | Investment | ||
Unsecured | Debentures | IPCA + 7.14% | December-2020 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 7.14% | ||
Annual interest | 9.40% | ||
Maturity | Dec-2020 | ||
Loans, borrowings and debentures | R$ 0 | 318,412 | |
Objective | Investment | ||
Unsecured | Debentures | IPCA + 7.48% | December-2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 7.48% | ||
Annual interest | 12.17% | ||
Maturity | Dec-2022 | ||
Loans, borrowings and debentures | R$ 299524 | 286,271 | |
Objective | Investment | ||
Unsecured | Debentures | IPCA + 7.36% | December-2025 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 7.36% | ||
Annual interest | 12.04% | ||
Maturity | Dec-2025 | ||
Loans, borrowings and debentures | R$ 97956 | 94,367 | |
Objective | Investment | ||
Unsecured | Debentures | IPCA + 5.87% | December-2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 5.87% | ||
Annual interest | 10.49% | ||
Maturity | Dec-2023 | ||
Loans, borrowings and debentures | R$ 890658 | 859,996 | |
Objective | Investment | ||
Unsecured | Debentures | IPCA + 4.33% | October-2024 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 4.33% | ||
Annual interest | 8.88% | ||
Maturity | Oct-2024 | ||
Loans, borrowings and debentures | R$ 452457 | 431,817 | |
Objective | Investment | ||
Unsecured | Debentures | IGPM + 6.10% | May-2028 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IGPM + 6.10% | ||
Annual interest | 31.46% | ||
Maturity | May-2028 | ||
Loans, borrowings and debentures | R$ 298706 | 240,900 | |
Objective | Investment | ||
Unsecured | Debentures | CDI + 0.50% | October-2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 0.50% | ||
Annual interest | 2.41% | ||
Maturity | Oct-2022 | ||
Loans, borrowings and debentures | R$ 2007848 | 2,015,251 | |
Objective | Investment | ||
Unsecured | Working capital | CDI + 2.75% | July-2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 2.75% | ||
Annual interest | 4.70% | ||
Maturity | Jun-2022 | ||
Loans, borrowings and debentures | R$ 100045 | 0 | |
Objective | Working capital | ||
Unsecured | Promissory Notes | CDI + 3.00% | April-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 3.00% | ||
Annual interest | 4.96% | ||
Maturity | Apr-2021 | ||
Loans, borrowings and debentures | R$ 601058 | 0 | |
Objective | Investment | ||
Unsecured | Promissory Notes | CDI + 3.40% | April-2021 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 3.40% | ||
Annual interest | 5.36% | ||
Maturity | Apr-2021 | ||
Loans, borrowings and debentures | R$ 520116 | R$ 0 | |
Objective | Investment |
Financial Assets and Liabili_17
Financial Assets and Liabilities - Summary of Non-current Borrowings (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | R$ 37320391 | R$ 25533990 |
1 - 2 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 3,759,874 | 1,813,849 |
25 to 36 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 3,667,857 | 3,240,861 |
37 to 48 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 7,480,137 | 2,294,198 |
49 to 60 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 4,298,007 | 5,032,388 |
61 to 72 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 640,000 | 2,520,671 |
73 to 84 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 5,427,729 | 456,983 |
85 to 96 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 4,023,694 | 3,821,149 |
Thereafter [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | R$ 8023093 | R$ 6353891 |
Financial Assets and Liabili_18
Financial Assets and Liabilities - Summary of Carrying in Loans, Borrowings and Debentures (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | R$ 42249460 | R$ 29052215 | R$ 22574313 |
Brazilian reais (R$) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | 17,022,405 | 12,360,023 | |
U.S. dollar (U.S.$) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | 24,551,500 | 16,165,603 | |
British pound (GBP) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | 569,352 | 443,500 | |
Euro (EUR) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | R$ 106203 | R$ 83089 |
Financial Assets and Liabili_19
Financial Assets and Liabilities - Summary of Changes in Loans, Borrowings and Debentures (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about borrowings [abstract] | |||
Beginning Balance | R$ 29052215 | R$ 22574313 | |
Raised | 10,336,257 | 9,352,123 | |
Repayment of principal | (3,397,060) | (4,422,026) | |
Payment of interest on loans, borrowings and debentures | (1,782,976) | (1,384,184) | R$ 1454712 |
Interest, exchange rate and fair value | 8,041,024 | 2,931,989 | |
Ending balance | R$ 42249460 | R$ 29052215 | R$ 22574313 |
Financial Assets and Liabili_20
Financial Assets and Liabilities - Schedule Required to Comply Financial Covenants (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Brazilian National Economic and Social Development Bank [Member] | Comgas [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt/EBITDA cannot exceed 4.00 |
Ratios | 1.69% |
Brazilian National Economic and Social Development Bank [Member] | Rumo S.A. [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | EBITDA/Consolidated financial result higher or equal to 2.0 |
Ratios | 4.78% |
Resolution 4131 | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt/EBITDA cannot exceed 4.00 |
Ratios | 1.69% |
Promissory Notes | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt/EBITDA cannot exceed 4.00 |
Ratios | 1.69% |
Debentures 5Th To 8Th Issues [Member] | Comgas [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt/EBITDA cannot exceed 4.00 |
Ratios | 1.69% |
Debentures fourth issue [member] | Comgas [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Short-term indebtedness/Total indebtedness cannot exceed 0.6 |
Ratios | 0.26% |
Senior notes due 2024 | Cosan Limited [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt pro forma/EBITDA pro forma not higher than or equal to 3.5 |
Ratios | 3.08% |
Senior notes due 2024 | Rumo S.A. [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt/EBITDA not higher than or equal to 3.3 |
Ratios | 1.96% |
Senior notes due 2025 | Rumo S.A. [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt/EBITDA not higher than or equal to 3.3 |
Ratios | 1.96% |
Senior notes due 2027 | Cosan SA [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt pro forma/EBITDA pro forma not higher than or equal to 3.5 |
Ratios | 2.55% |
Senior notes due 2029 | Cosan Limited [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt pro forma/EBITDA pro forma not higher than or equal to 3.5 |
Ratios | 3.08% |
Financial Assets and Liabili_21
Financial Assets and Liabilities - Loans, borrowings and debentures - Additional information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Weighted average | ||
Disclosure of detailed information about borrowings [line items] | ||
Annual interest | 4.55% | |
CDI | Weighted average | ||
Disclosure of detailed information about borrowings [line items] | ||
Annual interest | 1.90% | |
Secured | CDI | Weighted average | ||
Disclosure of detailed information about borrowings [line items] | ||
Annual interest | 2.78% | 5.94% |
Secured | TJLP | Weighted average | ||
Disclosure of detailed information about borrowings [line items] | ||
Annual interest | 4.87% | 5.57% |
Secured | BNDES | ||
Disclosure of detailed information about borrowings [line items] | ||
Balance of bank guarantees contracted | R$ 3687323 | R$ 1920185 |
Secured | BNDES | Weighted average | ||
Disclosure of detailed information about borrowings [line items] | ||
Bank guarantee rate | 1.04% | |
Secured | European investment bank | ||
Disclosure of detailed information about borrowings [line items] | ||
Balance of bank guarantees contracted | R$ 133000 | R$ 213715 |
Secured | European investment bank | Weighted average | ||
Disclosure of detailed information about borrowings [line items] | ||
Bank guarantee rate | 1.47% |
Financial Assets and Liabili_22
Financial Assets and Liabilities - Summary of movement of leases (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure Of Movement Of Leases [Line Items] | |||
Beginning balance | R$ 4594888 | R$ 2023309 | |
Additions | 3,531,470 | 2,777,275 | |
Interest | 606,529 | 512,964 | |
Transfer between liabilities | [1] | (111,737) | (117,428) |
Payment of principal | (5,424,917) | (423,283) | |
Payment of interest | (500,922) | (249,325) | |
Monetary adjustment | 306,536 | 71,376 | |
Current | 531,410 | ||
Non-current | 2,470,437 | ||
Ending balance | R$ 3001847 | R$ 4594888 | |
[1] | Transfer of railroad concession payable to lease (Note 14). |
Financial Assets and Liabili_23
Financial Assets and Liabilities - Summary of lease expense (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Lease Expense [Line Items] | ||
Variable lease payments not included in the measurement of lease liabilities | R$ 24045 | R$ 10691 |
Expenses relating to short-term leases | 34,101 | 37,143 |
Expenses relating to leases of low-value assets, excluding short-term leases of low-value assets | 1,547 | 348 |
Lease expense | R$ 59693 | R$ 48182 |
Financial Assets and Liabili_24
Financial Assets and Liabilities - Summary of Trade Payables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of trade and other payables [line items] | ||
Other | R$ 32215 | R$ 17118 |
Total trade and other payables | 2,630,054 | 2,190,264 |
Materials and service suppliers [member] | ||
Disclosure of trade and other payables [line items] | ||
Trade and other payables to trade suppliers | 1,675,553 | 1,356,978 |
Natural Gas and Transportation Suppliers [Member] | ||
Disclosure of trade and other payables [line items] | ||
Trade and other payables to trade suppliers | 780,141 | 815,798 |
Electricity and Transportation Suppliers [Member] | ||
Disclosure of trade and other payables [line items] | ||
Trade and other payables to trade suppliers | 141,418 | 0 |
Fuel and lubricants suppliers [member] | ||
Disclosure of trade and other payables [line items] | ||
Trade and other payables to trade suppliers | R$ 727 | R$ 370 |
Financial Assets and Liabili_25
Financial Assets and Liabilities - Summary of movement of the obligation with preferred shareholders (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Movement Obligation With Preferred Shareholders [Line Items] | ||
Beginning balance | R$ 611537 | R$ 1097490 |
Preferred share holders dividend distribution | (240,786) | (535,832) |
Preferred share holders monetary variation | 16,293 | 49,879 |
Ending balance | R$ 387044 | R$ 611537 |
Financial Assets and Liabili_26
Financial Assets and Liabilities - Summary of Derivative Financial Instruments (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Total financial instruments | R$ 7694639 | R$ 3743359 |
Assets | 8,140,700 | 3,824,410 |
Liabilities | (446,061) | (81,051) |
Electricity Derivatives [Member] | Commodity Forward Contract [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional | 1,354,967 | 0 |
Fair value | (189,423) | 0 |
Exchange Rate Derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional | 1,669,911 | 1,542,535 |
Fair value | (10,575) | (30,784) |
Exchange Rate Derivatives [member] | Forward agreements [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional | 1,656,489 | 1,542,535 |
Fair value | (10,227) | (30,784) |
Exchange Rate Derivatives [member] | Commodity Forward Contract [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional | 13,422 | 0 |
Fair value | (348) | 0 |
Interest Rate and Exchange Rate Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional | 16,635,029 | 13,522,270 |
Fair value | 7,894,637 | 3,774,143 |
Interest Rate and Exchange Rate Risk [Member] | Swap Contract for Shares [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional | 600,000 | 0 |
Fair value | 79,950 | 0 |
Interest Rate and Exchange Rate Risk [Member] | Inflation and Interest Rate Swap Contract [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional | 2,229,136 | 0 |
Fair value | 408,867 | 0 |
Interest Rate and Exchange Rate Risk [Member] | Interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional | 3,399,997 | 2,633,796 |
Fair value | 755,355 | 692,642 |
Interest Rate and Exchange Rate Risk [Member] | Exchange and interest rate [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional | 10,405,896 | 10,888,474 |
Fair value | R$ 6650465 | R$ 3081501 |
Financial Assets and Liabili_27
Financial Assets and Liabilities - Summary of foreign currency-related hedging instruments and interest rate swaps (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Loans, financing and debentures | R$ 42249460 | R$ 29052215 | R$ 22574313 |
Designated as Hedging Instruments [Member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | 7,518,792 | ||
Loans, financing and debentures | (11,555,894) | (8,926,449) | |
Accumulated fair value adjustment of Loans, financing and debentures | (2,254,907) | (1,846,912) | |
Notional amount of derivatives | (7,544,620) | ||
Hedging instrument, assets | 4,704,242 | 4,243,015 | |
Derivative hedging instruments accumulated fair value adjustment | R$ 1919803 | 1,569,706 | |
Notional amount of hedging instruments | (25,828) | ||
Net currency and interest rate instruments | R$ 6851652 | (4,683,434) | |
Net accumulated fair value adjustment of currency and interest rate instruments | (335,104) | (277,206) | |
Designated as Hedging Instruments [Member] | Debenture 3rd issue - 3rd series [member] | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | |||
Hedging instrument, assets | 24,842 | ||
Derivative hedging instruments accumulated fair value adjustment | 862 | 5,510 | |
Designated as Hedging Instruments [Member] | Debenture 5th issue - single series [member] | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | (684,501) | ||
Hedging instrument, assets | 211,741 | 175,262 | |
Derivative hedging instruments accumulated fair value adjustment | 10,731 | 88,583 | |
Designated as Hedging Instruments [Member] | Debentures | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | (1,154,964) | ||
Hedging instrument, assets | 176,693 | ||
Derivative hedging instruments accumulated fair value adjustment | 183,595 | ||
Designated as Hedging Instruments [Member] | Senior swaps notes due 2023 | Cosan S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | (519,670) | ||
Hedging instrument, assets | 392,899 | 418,340 | |
Derivative hedging instruments accumulated fair value adjustment | 42,532 | 128,357 | |
Designated as Hedging Instruments [Member] | Senior swaps notes due 2024 | Cosan Limited [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | (1,039,340) | ||
Hedging instrument, assets | 463,502 | 2,156,068 | |
Derivative hedging instruments accumulated fair value adjustment | 78,913 | 805,312 | |
Designated as Hedging Instruments [Member] | Senior swaps notes due 2024 | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | (2,405,595) | ||
Hedging instrument, assets | 2,118,028 | 989,022 | |
Derivative hedging instruments accumulated fair value adjustment | 1,021,045 | 340,265 | |
Designated as Hedging Instruments [Member] | Senior swaps notes due 2025 | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | (1,740,550) | ||
Hedging instrument, assets | 1,341,379 | 479,481 | |
Derivative hedging instruments accumulated fair value adjustment | 825,015 | 201,679 | |
Designated as Hedging Instruments [Member] | Debenture 3rd issue - 3rd series [member] | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | |||
Loans, financing and debentures | (108,133) | ||
Accumulated fair value adjustment of Loans, financing and debentures | (575) | (14,822) | |
Designated as Hedging Instruments [Member] | Debenture 5th issue - single series [member] | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | 684,501 | ||
Loans, financing and debentures | (890,658) | (859,996) | |
Accumulated fair value adjustment of Loans, financing and debentures | (22,040) | (90,110) | |
Designated as Hedging Instruments [Member] | Debentures | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | 1,129,136 | ||
Loans, financing and debentures | (1,281,278) | (1,114,715) | |
Accumulated fair value adjustment of Loans, financing and debentures | (239,437) | (10,164) | |
Designated as Hedging Instruments [Member] | Senior notes due 2023 | Cosan S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | 519,670 | ||
Loans, financing and debentures | (569,466) | (438,985) | |
Accumulated fair value adjustment of Loans, financing and debentures | (237,050) | (99,541) | |
Designated as Hedging Instruments [Member] | Senior notes due 2024 | Cosan Limited [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | 1,039,340 | ||
Loans, financing and debentures | (1,232,844) | (903,636) | |
Accumulated fair value adjustment of Loans, financing and debentures | (18,357) | (865,908) | |
Designated as Hedging Instruments [Member] | Senior notes due 2024 | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | 2,405,595 | ||
Loans, financing and debentures | (4,514,289) | (3,318,895) | |
Accumulated fair value adjustment of Loans, financing and debentures | (959,017) | (471,159) | |
Designated as Hedging Instruments [Member] | Senior notes due 2025 | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | 1,740,550 | ||
Loans, financing and debentures | (3,067,359) | (2,182,089) | |
Accumulated fair value adjustment of Loans, financing and debentures | R$ 779581 | R$ 295208 |
Financial Assets and Liabili_28
Financial Assets and Liabilities - Summary of Market Value of Senior Notes that are listed on Luxembourg Stock Exchange (Detail) | Dec. 31, 2020 | Dec. 31, 2019 |
Senior notes due 2023 [member] | Cosan S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 101.02% | 101.46% |
Senior notes due 2024 [member] | Rumo S A [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 104.17% | 107.90% |
Senior notes due 2024 [member] | Cosan Limited [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 103.22% | 105.18% |
Senior notes due 2025[member] | Rumo S A [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 105.96% | 107.27% |
Senior notes due 2027 [member] | Cosan S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 108.20% | 109.18% |
Senior Notes Due 2028 [Member] | Rumo S A [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 108.75% | 0.00% |
Senior Notes Due 2029[Member] | Cosan Limited [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 110.05% | 104.48% |
Perpetual notes [member] | Cosan S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 102.88% | 104.06% |
Financial Assets and Liabili_29
Financial Assets and Liabilities - Summary of Carrying Amounts and Fair Value of Financial Assets and Financial Liabilities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | R$ 28807488 | R$ 17574937 | |
Financial liabilities | (53,176,950) | (38,078,126) | |
Cost [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 14,034,381 | 10,370,846 | |
Financial liabilities | (19,526,428) | (16,635,587) | |
Cost [member] | Investment fund [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 2,155,446 | 3,279,170 | |
Cost [member] | Marketable securities [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 3,669,109 | 3,115,503 | |
Cost [member] | Derivative financial instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 8,140,700 | 3,824,410 | |
Financial liabilities | (446,061) | (81,051) | |
Cost [member] | Loans, borrowings and debentures [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | (18,855,580) | (16,370,166) | |
Cost [member] | Contingent consideration [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | [1] | (224,787) | (184,370) |
Cost [member] | Other financial assets [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 69,126 | 151,763 | |
Fair value [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 151,763 | ||
Financial liabilities | 0 | ||
Fair value [member] | Investment fund [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 0 | ||
Fair value [member] | Marketable securities [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 0 | ||
Fair value [member] | Derivative financial instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 0 | ||
Financial liabilities | 0 | ||
Fair value [member] | Loans, borrowings and debentures [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 0 | ||
Fair value [member] | Contingent consideration [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | [1] | 0 | |
Fair value [member] | Other financial assets [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 151,763 | ||
Fair value [member] | Level 1 [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 69,126 | ||
Financial liabilities | 0 | ||
Fair value [member] | Level 1 [member] | Investment fund [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 0 | ||
Fair value [member] | Level 1 [member] | Marketable securities [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 0 | ||
Fair value [member] | Level 1 [member] | Derivative financial instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 0 | ||
Financial liabilities | 0 | ||
Fair value [member] | Level 1 [member] | Loans, borrowings and debentures [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 0 | ||
Fair value [member] | Level 1 [member] | Contingent consideration [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | [1] | 0 | |
Fair value [member] | Level 1 [member] | Other financial assets [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 69,126 | ||
Fair value [member] | Level 2 [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 13,965,255 | 10,219,083 | |
Financial liabilities | (19,526,428) | (16,609,468) | |
Fair value [member] | Level 2 [member] | Investment fund [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 2,155,446 | 3,279,170 | |
Fair value [member] | Level 2 [member] | Marketable securities [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 3,669,109 | 3,115,503 | |
Fair value [member] | Level 2 [member] | Derivative financial instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 8,140,700 | 3,824,410 | |
Financial liabilities | (446,061) | (81,051) | |
Fair value [member] | Level 2 [member] | Loans, borrowings and debentures [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | (18,855,580) | (16,370,166) | |
Fair value [member] | Level 2 [member] | Contingent consideration [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | [1] | (224,787) | (158,251) |
Fair value [member] | Level 2 [member] | Other financial assets [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | R$ 0 | 0 | |
Fair value [member] | Level 3 [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 0 | ||
Financial liabilities | (26,119) | ||
Fair value [member] | Level 3 [member] | Investment fund [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 0 | ||
Fair value [member] | Level 3 [member] | Marketable securities [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 0 | ||
Fair value [member] | Level 3 [member] | Derivative financial instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 0 | ||
Financial liabilities | 0 | ||
Fair value [member] | Level 3 [member] | Loans, borrowings and debentures [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 0 | ||
Fair value [member] | Level 3 [member] | Contingent consideration [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | [1] | (26,119) | |
Fair value [member] | Level 3 [member] | Other financial assets [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | R$ 0 | ||
[1] | In2019, the consideration payable related to the contingent variable consideration payable ofExxonMobil’swas considered level3, however the nature of the calculation has changed. In2020, the Company reviewed the fair value hierarchy, and the contingent is now framed as level2. |
Financial assets and liabili_30
Financial assets and liabilities - Summary of Financial Risks and Financial Performance (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of financial assets [line items] | |
Measurement | Stressed scenarios (positive and negative effects, before tax effects) were defined based on changes of a 25% and 50% to the U.S. dollar and Euro exchange rate used in the probable scenario. |
Currency risk [member] | Cash flow forecasting [member] | |
Disclosure of financial assets [line items] | |
Exposure | (i) Future commercial transactions. |
Measurement | (i) Cash flow forecasting |
Management | Foreign currency |
Currency risk [member] | Sensitivity analysis [member] | |
Disclosure of financial assets [line items] | |
Exposure | (ii) Recognized financial assets and liabilities not denominated in Brazilian reais. |
Measurement | (ii) Sensitivity analysis |
Interest rate risk [member] | Sensitivity analysis [member] | |
Disclosure of financial assets [line items] | |
Exposure | Cash and cash equivalents, marketable securities, loans, borrowings and debentures, leases and derivatives. |
Measurement | (i) Sensitivity analysis |
Management | Interest rate Swap. |
Market risk - prices [member] | |
Disclosure of financial assets [line items] | |
Exposure | Future commercial transactions. |
Management | Future electric energy price (purchase and sale). |
Market risk - prices [member] | Cash flow forecasting [member] | |
Disclosure of financial assets [line items] | |
Exposure | (i) Future commercial transactions. |
Measurement | (i) Cash flow forecasting |
Management | Future electric energy price (purchase and sale). |
Market risk - prices [member] | Sensitivity analysis [member] | |
Disclosure of financial assets [line items] | |
Measurement | (ii) Sensitivity analysis |
Credit risk [member] | |
Disclosure of financial assets [line items] | |
Exposure | Cash and cash equivalents, marketable securities, restricted cash, trade receivables, derivatives, receivables from related parties and dividends. |
Measurement | (i) Aging analysis |
Management | Diversification of bank deposits, credit limits and letters of credit. |
Credit risk [member] | Aging analysis [member] | |
Disclosure of financial assets [line items] | |
Measurement | (ii) Credit ratings |
Liquidity risk [member] | A Credit Rating [member] | |
Disclosure of financial assets [line items] | |
Exposure | Loans, borrowings and debentures, trade payables, other financial liabilities, tax installments, leases, derivatives, payables to related parties and dividends. |
Measurement | (i) Rolling cash flow forecasts |
Management | Availability of committed credit lines and borrowing facilities. |
Financial assets and liabili_31
Financial assets and liabilities - Summary of Net Exposure to Exchange Rate Variations on Assets and Liabilities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | R$ 28531175 | R$ 17571084 | |
Cash and cash equivalents [member] | |||
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | 13,642,918 | 8,472,274 | |
Trade receivables [member] | |||
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | [1] | 2,033,441 | 1,814,394 |
Derivative financial instruments (notional) [member] | |||
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | 8,140,700 | 3,824,410 | |
Foreign exchange risk [member] | |||
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | (4,779,531) | (2,035,301) | |
Foreign exchange risk [member] | Cash and cash equivalents [member] | |||
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | 2,995,284 | 901,718 | |
Foreign exchange risk [member] | Trade receivables [member] | |||
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | 24,619 | 22,771 | |
Foreign exchange risk [member] | Trade payables [member] | |||
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | (229,750) | (86,732) | |
Foreign exchange risk [member] | Loans, borrowings and debentures [member] | |||
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | (25,227,055) | (16,245,131) | |
Foreign exchange risk [member] | Leases [member] | |||
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | (99,217) | (65,348) | |
Foreign exchange risk [member] | Contingent consideration [member] | |||
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | (224,787) | (184,370) | |
Foreign exchange risk [member] | Derivative financial instruments (notional) [member] | |||
Disclosure of foreign exchange risk [Line Items] | |||
Exposure to risk | R$ 17981375 | R$ 13621791 | |
[1] | On December 31, 2020, the Company had no concentration of credit in consumers greater than10% of sales, diluting the risk of default. |
Financial assets and liabili_32
Financial assets and liabilities - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |
Description of methods and assumptions used in preparing sensitivity analysis | Stressed scenarios (positive and negative effects, before tax effects) were defined based on changes of a 25% and 50% to the U.S. dollar and Euro exchange rate used in the probable scenario. |
Percentage of increase in actuarial assumption | 0.50% |
Percentage of decrease in actuarial assumption | 0.50% |
25% [member] | |
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |
Percentage of increase in actuarial assumption | 25.00% |
Percentage of decrease in actuarial assumption | (25.00%) |
50% [member] | |
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |
Percentage of increase in actuarial assumption | 50.00% |
Percentage of decrease in actuarial assumption | (50.00%) |
Financial assets and liabili_33
Financial assets and liabilities - Summary of Sensitivity Analysis on Changes in Foreign Exchange Rates Impact on Profit Loss (Detail) R$ in Thousands | 12 Months Ended |
Dec. 31, 2020BRL (R$) | |
Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Trade receivables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Contingent consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Probable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | R$ 2810468 |
Probable [member] | Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (290,188) |
Probable [member] | Trade receivables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 15,860 |
Probable [member] | Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (162,557) |
Probable [member] | Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 1,781,477 |
Probable [member] | Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 1,669,049 |
Probable [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 6,619 |
Probable [member] | Contingent consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (209,792) |
25% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 1,981,561 |
25% [member] | Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 886,269 |
25% [member] | Trade receivables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 13,437 |
25% [member] | Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (121,918) |
25% [member] | Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 5,366,505 |
25% [member] | Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (3,988,858) |
25% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (16,530) |
25% [member] | Contingent consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (157,344) |
50% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 1,605,073 |
50% [member] | Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 2,062,728 |
50% [member] | Trade receivables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 11,014 |
50% [member] | Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (81,278) |
50% [member] | Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 9,335,649 |
50% [member] | Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (9,578,464) |
50% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (39,680) |
50% [member] | Contingent consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (104,896) |
-25% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 3,533,471 |
-25% [member] | Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (1,466,646) |
-25% [member] | Trade receivables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 18,284 |
-25% [member] | Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (203,196) |
-25% [member] | Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (1,772,852) |
-25% [member] | Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 7,190,352 |
-25% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 29,769 |
-25% [member] | Contingent consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (262,240) |
-50% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 4,176,266 |
-50% [member] | Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (2,643,104) |
-50% [member] | Trade receivables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 20,706 |
-50% [member] | Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (243,836) |
-50% [member] | Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (5,475,686) |
-50% [member] | Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 12,779,956 |
-50% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 52,918 |
-50% [member] | Contingent consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | R$ 314688 |
Financial assets and liabili_34
Financial assets and liabilities - Summary of Sensitivity Analysis on Changes in Foreign Exchange Rates (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 5.1967% |
Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 6.3779% |
Probable [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 4.85% |
Probable [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 5.917% |
25% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 6.0625% |
25% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 7.3963% |
50% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 7.275% |
50% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 8.8755% |
-25% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 3.6375% |
-25% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 4.4378% |
-50% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 2.425% |
-50% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 2.9585% |
Financial assets and liabili_35
Financial assets and liabilities - Summary of Sensitivity Analysis on Interest Rates on Loans and Borrowings (Detail) R$ in Thousands | 12 Months Ended |
Dec. 31, 2020BRL (R$) | |
Probable [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | R$ 1573468 |
Probable [member] | Cash and cash equivalents [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 217,985 |
Probable [member] | Marketable securities [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 82,335 |
Probable [member] | Consideration asset [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 63,709 |
Probable [member] | Restricted cash [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 811 |
Probable [member] | Railroad Concession Payable [Member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (25,755) |
Probable [member] | Leases [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (305,868) |
Probable [member] | Derivative financial instruments [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 3,206,385 |
Probable [member] | Loans, borrowings and debentures [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (1,655,586) |
Probable [member] | Other financial liabilities [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (10,548) |
25% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (953,433) |
25% [member] | Cash and cash equivalents [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 266,883 |
25% [member] | Marketable securities [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 99,172 |
25% [member] | Consideration asset [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 79,636 |
25% [member] | Restricted cash [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 1,014 |
25% [member] | Railroad Concession Payable [Member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (32,222) |
25% [member] | Leases [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (307,463) |
25% [member] | Derivative financial instruments [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (114,764) |
25% [member] | Loans, borrowings and debentures [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (933,805) |
25% [member] | Other financial liabilities [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (11,884) |
50% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (1,381,476) |
50% [member] | Cash and cash equivalents [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 321,519 |
50% [member] | Marketable securities [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 119,783 |
50% [member] | Consideration asset [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 95,564 |
50% [member] | Restricted cash [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 1,216 |
50% [member] | Railroad Concession Payable [Member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (38,690) |
50% [member] | Leases [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (309,059) |
50% [member] | Derivative financial instruments [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (504,796) |
50% [member] | Loans, borrowings and debentures [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (1,053,793) |
50% [member] | Other financial liabilities [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (13,220) |
-25% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 6,126 |
-25% [member] | Cash and cash equivalents [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 158,031 |
-25% [member] | Marketable securities [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 58,004 |
-25% [member] | Consideration asset [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 47,782 |
-25% [member] | Restricted cash [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 608 |
-25% [member] | Railroad Concession Payable [Member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (19,403) |
-25% [member] | Leases [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (304,273) |
-25% [member] | Derivative financial instruments [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 768,421 |
-25% [member] | Loans, borrowings and debentures [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (693,831) |
-25% [member] | Other financial liabilities [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (9,213) |
-50% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 545,879 |
-50% [member] | Cash and cash equivalents [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 103,535 |
-50% [member] | Marketable securities [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 37,420 |
-50% [member] | Consideration asset [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 31,854 |
-50% [member] | Restricted cash [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 405 |
-50% [member] | Railroad Concession Payable [Member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (12,935) |
-50% [member] | Leases [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (302,678) |
-50% [member] | Derivative financial instruments [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 1,270,000 |
-50% [member] | Loans, borrowings and debentures [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (573,845) |
-50% [member] | Other financial liabilities [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | R$ 7877 |
Financial assets and liabili_36
Financial assets and liabilities - Summary of Probable Scenario Considers Estimated Interest Rate (Detail) | Dec. 31, 2020 |
Probable [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.23% |
Probable [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.23% |
Probable [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.70% |
Probable [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 4.70% |
Probable [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.37% |
Probable [member] | IGPM [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 4.34% |
Probable [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.48% |
Probable [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.15% |
25% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.79% |
25% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.79% |
25% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.88% |
25% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.88% |
25% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 4.21% |
25% [member] | IGPM [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.43% |
25% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.60% |
25% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.19% |
50% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.35% |
50% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.35% |
50% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 8.05% |
50% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 7.05% |
50% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.05% |
50% [member] | IGPM [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.52% |
50% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.72% |
50% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.23% |
-25% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 1.68% |
-25% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 1.68% |
-25% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 4.53% |
-25% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.53% |
-25% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.53% |
-25% [member] | IGPM [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.26% |
-25% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.36% |
-25% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.11% |
-50% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 1.12% |
-50% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 1.12% |
-50% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.35% |
-50% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.35% |
-50% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 1.68% |
-50% [member] | IGPM [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.17% |
-50% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.24% |
-50% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.08% |
Financial risk management - Sch
Financial risk management - Schedule of outstanding energy trading operations (Detail) - Price risk - Electricity trading [member] R$ in Thousands | 12 Months Ended |
Dec. 31, 2020BRL (R$) | |
Financial position and unrealized gains on electricity trading operations, net | |
Assets | R$ 96595 |
Liabilities | (286,017) |
Net loss | R$ 189422 |
Financial risk management - S_2
Financial risk management - Schedule of outstanding energy trading operations (Details) - Price risk - Electricity trading [member] R$ in Thousands | 12 Months Ended |
Dec. 31, 2020BRL (R$) | |
Scenarios for sensitivity analysis | |
Unrealized loss | R$ 189422 |
Probable | |
Scenarios for sensitivity analysis | |
Unrealized loss | (189,423) |
25% [member] | |
Scenarios for sensitivity analysis | |
Unrealized loss | (163,920) |
50% [member] | |
Scenarios for sensitivity analysis | |
Unrealized loss | (328,798) |
(25)% [member] | |
Scenarios for sensitivity analysis | |
Unrealized loss | 165,836 |
(50%) [member] | |
Scenarios for sensitivity analysis | |
Unrealized loss | R$ 330714 |
Financial assets and liabili_37
Financial assets and liabilities - Summary of Credit Risk (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of credit risk exposure [line items] | |||
Exposure to risk | R$ 28531175 | R$ 17571084 | |
Concentration of credit in consumers greater than 10% of sales | 0 | ||
Cash and cash equivalents [member] | |||
Disclosure of credit risk exposure [line items] | |||
Exposure to risk | 13,642,918 | 8,472,274 | |
Marketable securities [member] | |||
Disclosure of credit risk exposure [line items] | |||
Exposure to risk | 3,669,109 | 3,115,503 | |
Trade receivables [member] | |||
Disclosure of credit risk exposure [line items] | |||
Exposure to risk | [1] | 2,033,441 | 1,814,394 |
Derivative financial instruments [member] | |||
Disclosure of credit risk exposure [line items] | |||
Exposure to risk | 8,140,700 | 3,824,410 | |
Receivables from related parties [member] | |||
Disclosure of credit risk exposure [line items] | |||
Exposure to risk | 929,690 | 173,341 | |
Dividend receivable [member] | |||
Disclosure of credit risk exposure [line items] | |||
Exposure to risk | 80,755 | 23,252 | |
Restricted cash [member] | |||
Disclosure of credit risk exposure [line items] | |||
Exposure to risk | R$ 34562 | R$ 147910 | |
[1] | On December 31, 2020, the Company had no concentration of credit in consumers greater than10% of sales, diluting the risk of default. |
Financial assets and liabili_38
Financial assets and liabilities - Summary of Credit Risk Rating (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of external credit grades [line items] | ||
Credit rating | R$ 25487289 | R$ 15560097 |
AAA credit rating [member] | ||
Disclosure of external credit grades [line items] | ||
Credit rating | 20,878,272 | 11,538,846 |
AA credit rating [member] | ||
Disclosure of external credit grades [line items] | ||
Credit rating | 3,991,846 | 4,021,251 |
A+ credit rating [member] | ||
Disclosure of external credit grades [line items] | ||
Credit rating | R$ 617171 | R$ 0 |
Financial assets and liabili_39
Financial assets and liabilities - Summary of Financial Liabilities (Detail) - Liquidity risk [member] - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | R$ 61713570 | R$ 54484446 |
Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (7,829,157) | |
1 - 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (5,369,464) | |
3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (15,450,291) | |
More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (33,064,658) | |
Loans, borrowings and debentures [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (46,012,176) | (43,054,826) |
Loans, borrowings and debentures [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (4,077,288) | |
Loans, borrowings and debentures [member] | 1 - 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (4,458,809) | |
Loans, borrowings and debentures [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (16,932,517) | |
Loans, borrowings and debentures [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (20,543,562) | |
Trade payables [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (2,629,734) | (2,190,264) |
Trade payables [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (2,629,734) | |
Trade payables [member] | 1 - 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Trade payables [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Trade payables [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Other financial liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (562,763) | (543,879) |
Other financial liabilities [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (562,763) | |
Other financial liabilities [member] | 1 - 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Other financial liabilities [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Other financial liabilities [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
REFIS [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (203,222) | (207,416) |
REFIS [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (7,548) | |
REFIS [member] | 1 - 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (4,574) | |
REFIS [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (5,912) | |
REFIS [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (185,188) | |
Leases [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (14,348,296) | (11,666,959) |
Leases [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (574,156) | |
Leases [member] | 1 - 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (390,726) | |
Leases [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (1,075,955) | |
Leases [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (12,307,459) | |
Railroad concession payable [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (1,219,188) | 0 |
Railroad concession payable [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (51,167) | |
Railroad concession payable [member] | 1 - 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (365,087) | |
Railroad concession payable [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (369,881) | |
Railroad concession payable [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (433,053) | |
Derivative financial instruments [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 3,988,524 | 4,396,997 |
Derivative financial instruments [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 413,170 | |
Derivative financial instruments [member] | 1 - 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 236,776 | |
Derivative financial instruments [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 2,933,974 | |
Derivative financial instruments [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 404,604 | |
Payables to related parties [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (315,433) | (392,458) |
Payables to related parties [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (315,433) | |
Payables to related parties [member] | 1 - 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Payables to related parties [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Payables to related parties [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Dividends payable [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (24,238) | (214,104) |
Dividends payable [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (24,238) | |
Dividends payable [member] | 1 - 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Dividends payable [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Dividends payable [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Preferred shareholders payable in subsidiaries [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (387,044) | R$ 611537 |
Preferred shareholders payable in subsidiaries [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Preferred shareholders payable in subsidiaries [member] | 1 - 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (387,044) | |
Preferred shareholders payable in subsidiaries [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 0 | |
Preferred shareholders payable in subsidiaries [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | R$ 0 |
Other Tax Receivables - Summary
Other Tax Receivables - Summary of Other Tax Receivables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Trade and Other Current Receivables [line items] | ||
Receivables from taxes other than income tax | R$ 1743038 | R$ 1677012 |
Current | 785,367 | 950,246 |
Non-Current | 957,671 | 726,766 |
COFINS - Revenue tax [member] | ||
Trade and Other Current Receivables [line items] | ||
Receivables from taxes other than income tax | 625,174 | 706,165 |
ICMS - State VAT [member] | ||
Trade and Other Current Receivables [line items] | ||
Receivables from taxes other than income tax | 754,749 | 602,127 |
ICMS CIAP - State VAT [member] | ||
Trade and Other Current Receivables [line items] | ||
Receivables from taxes other than income tax | 124,006 | 141,514 |
PIS - Revenue tax [member] | ||
Trade and Other Current Receivables [line items] | ||
Receivables from taxes other than income tax | 136,765 | 150,099 |
Credit installment [member] | ||
Trade and Other Current Receivables [line items] | ||
Receivables from taxes other than income tax | 42,138 | 41,516 |
Other [member] | ||
Trade and Other Current Receivables [line items] | ||
Receivables from taxes other than income tax | R$ 60206 | R$ 35591 |
Other Tax Receivables - Additio
Other Tax Receivables - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Trade and Other Current Receivables [line items] | |||
Financial result | R$ 1983996 | R$ 1967623 | R$ 1598422 |
Cosan S.A. [member] | PIS and COFINS [member] | |||
Trade and Other Current Receivables [line items] | |||
Tax benefit from federal tax authorities | 75,699 | ||
Other income | 28,141 | ||
Financial result | R$ 43859 |
Inventories - Summary of invent
Inventories - Summary of inventories and written down of inventories (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Classes of current inventories [abstract] | ||
Finished goods | R$ 560028 | R$ 457447 |
Spare parts and accessories | 219,831 | 236,347 |
Raw material | 118,319 | 55,347 |
Warehouse and other | 30,279 | 31,287 |
Fuels and lubricants | 6,807 | 6,894 |
Inventories | R$ 935264 | R$ 787322 |
Investments in Associates - Sum
Investments in Associates - Summary of Information in Associates of Company and Company's Ownership (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of associates and joint ventures [line items] | ||||
Beginning balance | R$ 377707 | |||
Interest in earnings (losses) of associates | (28,801) | R$ 1231 | R$ 45066 | |
Ending balance | R$ 383851 | R$ 377707 | ||
Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 0.10% | 0.10% | ||
Companhia de Gas de Sao Paulo – COMGAS [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [1] | 99.15% | ||
Compass Gás e Energia [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 628,487,690 | |||
Compass Gás e Energia [member] | Cosan SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 99.01% | 100.00% | ||
Cosan Lubes Investments Limited [member] | Cosan SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 70.00% | 70.00% | ||
Cosan Cayman I I Limited [member] | Cosan SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Cosan Global Limited [member] | Cosan SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Cosan Investimentose Participacoes S A [member] | Cosan SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Cosan Luxembourg S A [member] | Cosan SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 100.00% | |
Cosan Overseas Limited [member] | Cosan SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Pasadena Empreendimentose Participacoes S A [member] | Cosan SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Payly Solucoes de Pagamentos S.A. [member] | Cosan SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 75.00% | 75.00% | ||
Rumo S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 1,559,015,898 | |||
Rumo S.A. [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.19% | 28.47% | ||
Rumo S.A. [member] | Cosan SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 2.16% | 1.71% | ||
Moove Lubricants Limited [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Cosan Cinco S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Airport Energy Limited [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Airport Energy Services Limited [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Wessesx Petroleum Limited [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Stanbridge Group Limited [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Cosan Lubricants Espana S.L.U. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
TTA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 75.00% | 75.00% | ||
Cosan Lubrificantes S.R.L [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 98.00% | 98.00% | ||
LubrigrupoII [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Comma Oil & Chemicals Marketing SRL [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Comma Otomotiv Yag Ve Kimyasallari [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Pazarlama Limited Sirketi [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Comma Oil & Chemicals Marketing B.V. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Commercial Lubricants Moove Corp [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Cosan Lubrificantese Especialidades S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Cosan U.S Inc [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Ilha Terminal Distribuicao de Produtos Quimicos [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Zip Lube S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Cosan Paraguay S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Rumo Malha Oeste S.A. [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
Rumo Malha Paulista S.A. [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
Rumo Malha Sul S.A. [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
Rumo Malha Norte SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 1,189,412,363 | |||
Rumo Malha Norte SA [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.40% | 28.40% | ||
Rumo Malha Central S A [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
Elevacoes Portuarias S A [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
Logispot Armazens Gerais S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 2,040,816 | |||
Logispot Armazens Gerais S A [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 14.52% | 14.52% | ||
Rumo Luxembourg Sarl [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
Rumo Intermodal SA [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
Boswells S A [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
A L L Argentina S A [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
Paranagua S A [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
A L L Armazens Gerais Ltda [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
Portofer Ltda [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
A L L Mesopotamica S A [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 20.09% | 20.09% | ||
A L L Central S A [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 20.94% | 20.94% | ||
Servicios De Inversion Logistica Integrales SA [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 28.47% | 28.47% | ||
Brado Logisticae Participacoes S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 12,962,963 | |||
Brado Logisticae Participacoes S A [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 17.71% | 17.71% | ||
Brado Logistica S A [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 17.71% | 17.71% | ||
Associates [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Beginning balance | R$ 377707 | R$ 378519 | ||
Interest in earnings (losses) of associates | 28,801 | 1,231 | ||
Sales or purchase of interests | 5,655 | |||
Other comprehensive (losses) D | 240 | 33 | ||
Dividends | (17,452) | (18,887) | ||
Increase/ reduction of f capital and li | 1,142 | 31,113 | ||
Other | (6,587) | (19,957) | ||
Ending balance | R$ 383851 | R$ 377707 | 378,519 | |
Associates [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 73.48% | 73.49% | ||
Associates [member] | Cosan SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 66.74% | 64.59% | ||
Associates [member] | Cosan Limited Partners Brasil Consultoria Ltda [Member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 60.00% | 60.00% | ||
Associates [member] | Sinlog Tecnologia em Logstica SA [Member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 64.52% | 47.62% | ||
Associates [member] | Radar II Propriedades Agricolas S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 81,440,222 | |||
Shares held by Cosan | 24,920,708 | |||
Cosan ownership interest | 51.00% | |||
Economic benefits % | 3.00% | |||
Beginning balance | R$ 31975 | R$ 32236 | ||
Interest in earnings (losses) of associates | 1,747 | 1,528 | ||
Sales or purchase of interests | ||||
Other comprehensive (losses) D | 45 | 27 | ||
Dividends | (563) | (1,816) | ||
Increase/ reduction of f capital and li | ||||
Other | ||||
Ending balance | R$ 33205 | 31,975 | 32,236 | |
Associates [member] | Radar Propriedades Agricolas S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 1,735,703 | |||
Shares held by Cosan | 531,125 | |||
Cosan ownership interest | 51.00% | |||
Economic benefits % | 2.51% | |||
Beginning balance | R$ 59860 | 59,584 | ||
Interest in earnings (losses) of associates | 3,512 | 1,475 | ||
Sales or purchase of interests | ||||
Other comprehensive (losses) D | 232 | 142 | ||
Dividends | (1,233) | (1,341) | ||
Increase/ reduction of f capital and li | ||||
Other | ||||
Ending balance | R$ 62372 | 59,860 | 59,584 | |
Associates [member] | Tellus Brasil Participacoes S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 120,920,492 | |||
Shares held by Cosan | 61,359,624 | |||
Cosan ownership interest | 50.74% | |||
Economic benefits % | 5.00% | |||
Beginning balance | R$ 102342 | 101,109 | ||
Interest in earnings (losses) of associates | 6,883 | 4,667 | ||
Sales or purchase of interests | ||||
Other comprehensive (losses) D | ||||
Dividends | (3,560) | (3,434) | ||
Increase/ reduction of f capital and li | ||||
Other | ||||
Ending balance | R$ 105665 | 102,342 | 101,109 | |
Associates [member] | Janus Brasil Participacoes S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 136,928,272 | |||
Shares held by Cosan | 69,361,678 | |||
Cosan ownership interest | 50.77% | |||
Economic benefits % | 5.00% | |||
Beginning balance | R$ 126087 | 93,821 | ||
Interest in earnings (losses) of associates | 7,591 | 5,213 | ||
Sales or purchase of interests | ||||
Other comprehensive (losses) D | ||||
Dividends | (3,909) | (4,060) | ||
Increase/ reduction of f capital and li | 1,132 | 31,113 | ||
Other | ||||
Ending balance | 130,901 | 126,087 | 93,821 | |
Associates [member] | Novvi Limited Liability Company [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Beginning balance | 13,449 | |||
Interest in earnings (losses) of associates | 168 | |||
Sales or purchase of interests | ||||
Other comprehensive (losses) D | (136) | |||
Dividends | ||||
Increase/ reduction of f capital and li | ||||
Other | (13,481) | |||
Ending balance | 13,449 | |||
Associates [member] | Usina Santa Luiza SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Beginning balance | 29,209 | |||
Interest in earnings (losses) of associates | (29,209) | |||
Sales or purchase of interests | ||||
Other comprehensive (losses) D | ||||
Dividends | ||||
Increase/ reduction of f capital and li | ||||
Other | ||||
Ending balance | 29,209 | |||
Associates [member] | Other investments [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Beginning balance | 57,443 | 49,111 | ||
Interest in earnings (losses) of associates | 9,068 | 17,389 | ||
Sales or purchase of interests | 5,655 | |||
Other comprehensive (losses) D | (37) | |||
Dividends | (8,187) | (8,236) | ||
Increase/ reduction of f capital and li | 10 | |||
Other | (6,587) | (6,476) | ||
Ending balance | R$ 51708 | R$ 57443 | R$ 49111 | |
[1] | On January 14, 2020,CosanS.A. contributed the totality ofComgásshares held by the Company to the share capital of subsidiary CompassGáseEnergia(See Note 2). | |||
[2] | Management has concluded that there are no material uncertainties that cast doubt on the continuity of the subsidiaries. The subsidiaries have the financial support of the Company. |
Investments in Associates - S_2
Investments in Associates - Summary of Information in Associates of Company and Company's Ownership (Parenthetical) (Detail) R$ in Thousands | Dec. 17, 2020BRL (R$) |
Disclosure of subsidiaries [line items] | |
Dividend payables | R$ 1402899 |
Investments in Associates - S_3
Investments in Associates - Summary of Financial Information of Associates (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of financial statements [line items] | ||||
Assets | R$ 83713565 | R$ 65717874 | ||
Liabilities | (62,894,698) | (49,477,393) | ||
Shareholders' equity | 20,818,867 | 16,240,481 | R$ 17969356 | R$ 17059413 |
Profit (loss) for the year | 1,488,294 | 2,893,373 | R$ 2083180 | |
Radar Propriedades Agricolas S.A. [member] | ||||
Statement of financial statements [line items] | ||||
Assets | 2,384,480 | 2,259,440 | ||
Liabilities | (334,962) | (309,910) | ||
Shareholders' equity | 2,049,518 | 1,949,490 | ||
Profit (loss) for the year | 139,781 | 58,709 | ||
Radar II Propriedades Agricolas S.A. [member] | ||||
Statement of financial statements [line items] | ||||
Assets | 863,911 | 821,183 | ||
Liabilities | (947) | (19) | ||
Shareholders' equity | 862,964 | 821,164 | ||
Profit (loss) for the year | 58,239 | 50,920 | ||
Tellus Brasil Participacoes S.A. [member] | ||||
Statement of financial statements [line items] | ||||
Assets | 2,235,872 | 2,137,559 | ||
Liabilities | (169,779) | (136,375) | ||
Shareholders' equity | 2,066,093 | 2,001,184 | ||
Profit (loss) for the year | 134,441 | 91,431 | ||
Janus Brasil Participacoes S.A. [member] | ||||
Statement of financial statements [line items] | ||||
Assets | 2,764,440 | 2,632,321 | ||
Liabilities | (197,906) | (160,167) | ||
Shareholders' equity | 2,566,534 | 2,472,154 | ||
Profit (loss) for the year | R$ 143432 | R$ 97652 |
Investments in Associates - S_4
Investments in Associates - Summary of Non-controlling Interests in Subsidiaries (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of financial statements [line items] | |||
Beginning balance | R$ 10838616 | ||
Interest in earnings (losses) of associates | 3,695,493 | R$ 3836639 | R$ 955793 |
Ending balance | 15,558,784 | 10,838,616 | |
Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | 10,838,616 | 11,354,953 | |
Interest in earnings (losses) of associates | 628,812 | 1,577,032 | |
Sales or purchase of interests | 4,061,797 | (1,387,374) | |
Other comprehensive income (losses) | 119,531 | (91,920) | |
Dividends | (96,538) | (223,415) | |
IFRS 16 adoption | (377,420) | ||
Capital increase (decrease) | 6,666 | (11,938) | |
Other | (100) | (1,302) | |
Ending balance | R$ 15558784 | 10,838,616 | 11,354,953 |
Compass Gás e Energia [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 628,487,690 | ||
Shares held by non-controlling shareholders | 6,222,650 | ||
Non-controlling interest | 0.99% | ||
Compass Gás e Energia [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | |||
Interest in earnings (losses) of associates | 7,848 | ||
Sales or purchase of interests | 30,431 | ||
Other comprehensive income (losses) | 552 | ||
Dividends | (5,986) | ||
Capital increase (decrease) | |||
Other | 35 | ||
Ending balance | R$ 32880 | ||
Comgas [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 132,520,587 | ||
Shares held by non-controlling shareholders | 1,124,363 | ||
Non-controlling interest | 0.85% | ||
Comgas [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | R$ 24569 | 987,358 | |
Interest in earnings (losses) of associates | 9,200 | 40,455 | |
Sales or purchase of interests | (972,988) | ||
Other comprehensive income (losses) | 484 | (560) | |
Dividends | (9,535) | (16,969) | |
IFRS 16 adoption | |||
Capital increase (decrease) | (12,727) | ||
Other | 11 | ||
Ending balance | R$ 24729 | 24,569 | 987,358 |
Logispot Armazens Gerais S A [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 2,040,816 | ||
Shares held by non-controlling shareholders | 1,000,000 | ||
Non-controlling interest | 49.00% | ||
Logispot Armazens Gerais S A [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | R$ 34218 | 34,656 | |
Interest in earnings (losses) of associates | 1,879 | 172 | |
Sales or purchase of interests | |||
Other comprehensive income (losses) | |||
Dividends | (584) | (610) | |
IFRS 16 adoption | |||
Capital increase (decrease) | |||
Other | |||
Ending balance | R$ 35513 | 34,218 | 34,656 |
Rumo S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 1,559,015,898 | ||
Shares held by non-controlling shareholders | 1,115,164,072 | ||
Non-controlling interest | 71.53% | ||
Rumo S.A. [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | R$ 6058973 | 5,929,151 | |
Interest in earnings (losses) of associates | 212,463 | 463,594 | |
Sales or purchase of interests | 4,424,537 | ||
Other comprehensive income (losses) | 15,786 | 1,930 | |
Dividends | (2,742) | ||
IFRS 16 adoption | (340,050) | ||
Capital increase (decrease) | |||
Other | 4,348 | ||
Ending balance | R$ 10709017 | 6,058,973 | 5,929,151 |
Brado Logisticae Participacoes S A [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 12,962,963 | ||
Shares held by non-controlling shareholders | 4,897,407 | ||
Non-controlling interest | 37.78% | ||
Rumo Malha Norte SA [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 1,189,412,363 | ||
Shares held by non-controlling shareholders | 3,144,187 | ||
Non-controlling interest | 0.26% | ||
CLI [Member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 34,963,764 | ||
Shares held by non-controlling shareholders | 10,489,129 | ||
Non-controlling interest | 30.00% | ||
CLI [Member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | R$ 470498 | ||
Interest in earnings (losses) of associates | 44,816 | 18,715 | |
Sales or purchase of interests | 451,267 | ||
Other comprehensive income (losses) | 66,970 | 516 | |
Dividends | |||
IFRS 16 adoption | |||
Capital increase (decrease) | |||
Other | |||
Ending balance | R$ 582284 | 470,498 | |
Cosan S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 394,210,000 | ||
Shares held by non-controlling shareholders | 132,924,458 | ||
Non-controlling interest | 33.67% | ||
Cosan S.A. [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | R$ 3604875 | 3,765,964 | |
Interest in earnings (losses) of associates | 336,885 | 988,382 | |
Sales or purchase of interests | (407,177) | (849,033) | |
Other comprehensive income (losses) | 28,573 | (94,672) | |
Dividends | (68,120) | (203,977) | |
IFRS 16 adoption | |||
Capital increase (decrease) | |||
Other | (2,207) | (1,789) | |
Ending balance | R$ 3492829 | 3,604,875 | 3,765,964 |
Cosan Logistica S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 463,224,241 | ||
Shares held by non-controlling shareholders | 122,813,171 | ||
Non-controlling interest | 26.51% | ||
Payly [Member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 44,861,170 | ||
Shares held by non-controlling shareholders | 11,215,293 | ||
Non-controlling interest | 25.00% | ||
Sinlog Tecnologia em Logistica SA [Member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 21,000 | ||
Shares held by non-controlling shareholders | 10,000 | ||
Non-controlling interest | 47.62% | ||
TTA [Member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 10,521 | ||
Shares held by non-controlling shareholders | 2,630 | ||
Non-controlling interest | 25.00% | ||
Cosan Limited Partners Brasil Consultoria Ltda [Member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 10,000 | ||
Shares held by non-controlling shareholders | 4,000 | ||
Non-controlling interest | 40.00% | ||
Other investments [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | R$ 15298 | 7,491 | |
Interest in earnings (losses) of associates | 2,755 | 6,698 | |
Sales or purchase of interests | 4,567 | ||
Other comprehensive income (losses) | 6,160 | 866 | |
Dividends | (9,566) | (1,859) | |
IFRS 16 adoption | |||
Capital increase (decrease) | 6,666 | 789 | |
Other | 2,061 | (3,254) | |
Ending balance | 23,374 | 15,298 | 7,491 |
Cosan Logistica [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | 630,185 | 630,333 | |
Interest in earnings (losses) of associates | 12,966 | 59,016 | |
Sales or purchase of interests | 14,006 | (21,187) | |
Other comprehensive income (losses) | 1,006 | ||
Dividends | (5) | ||
IFRS 16 adoption | (37,370) | ||
Capital increase (decrease) | |||
Other | (607) | ||
Ending balance | R$ 658158 | R$ 630185 | R$ 630333 |
Investments in Associates - S_5
Investments in Associates - Summary of Financial Position (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current | |||||
Assets | R$ 23434868 | R$ 15991837 | |||
Liabilities | (12,546,994) | (8,917,211) | |||
Net current assets | (10,887,874) | ||||
Non-current | |||||
Assets | 60,278,697 | 49,726,037 | |||
Liabilities | (50,347,704) | (40,560,182) | |||
Total shareholders' equity | 20,818,867 | 16,240,481 | R$ 17969356 | R$ 17059413 | |
Compass Gás e Energia [member] | |||||
Current | |||||
Assets | [1] | 402,007 | 4 | ||
Liabilities | [1] | (25,404) | (2,614) | ||
Net current assets | [1] | 376,603 | (2,610) | ||
Non-current | |||||
Assets | [1] | 2,944,593 | 989 | ||
Liabilities | [1] | ||||
Net non-current assets | [1] | 2,944,593 | (989) | ||
Total shareholders' equity | [1] | 3,321,196 | (1,621) | ||
Comgas [member] | |||||
Current | |||||
Assets | 4,225,788 | 2,792,056 | |||
Liabilities | (3,610,144) | (2,807,891) | |||
Net current assets | 615,644 | 15,835 | |||
Non-current | |||||
Assets | 6,391,096 | 9,246,044 | |||
Liabilities | (6,416,687) | (6,343,690) | |||
Net non-current assets | (25,591) | 2,902,354 | |||
Total shareholders' equity | 590,053 | 2,886,519 | |||
Cosan S.A. [member] | |||||
Current | |||||
Assets | 3,443,811 | 5,704,933 | |||
Liabilities | (774,742) | (2,437,233) | |||
Net current assets | 2,669,069 | 3,267,700 | |||
Non-current | |||||
Assets | 16,998,133 | 15,107,843 | |||
Liabilities | (8,819,535) | (7,821,809) | |||
Net non-current assets | 8,178,598 | 7,286,034 | |||
Total shareholders' equity | 10,847,667 | 10,553,734 | |||
Sinlog Tecnologia em Logistica SA [Member] | |||||
Current | |||||
Assets | 5,023 | 3,616 | |||
Liabilities | (3,340) | (479) | |||
Net current assets | 1,683 | (3,137) | |||
Non-current | |||||
Assets | 14,398 | 3,081 | |||
Liabilities | (242) | ||||
Net non-current assets | 14,156 | (3,081) | |||
Total shareholders' equity | 15,839 | 6,218 | |||
Rumo S.A. [member] | |||||
Current | |||||
Assets | 1,996,914 | 1,302,485 | |||
Liabilities | (841,519) | (1,105,899) | |||
Net current assets | 1,155,395 | 196,586 | |||
Non-current | |||||
Assets | 19,624,672 | 12,271,883 | |||
Liabilities | (5,796,462) | (4,124,193) | |||
Net non-current assets | 13,828,210 | 8,147,690 | |||
Total shareholders' equity | R$ 14983605 | R$ 8344276 | |||
[1] | Parent Company information. |
Investments in Associates - S_6
Investments in Associates - Summary of Profit or Loss and Other Comprehensive Income (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Statement of financial statements [line items] | ||||
Net sales | R$ 20437835 | R$ 20611409 | R$ 16834768 | |
Profit before taxes | 1,990,961 | 3,661,948 | 2,871,897 | |
Income tax expenses | (502,667) | (779,596) | (760,487) | |
Profit for the year | 1,488,294 | 2,893,373 | 2,083,180 | |
Other comprehensive income (loss) | (605,401) | (310,218) | (208,756) | |
Total comprehensive income for the year | 882,893 | 2,583,155 | 1,874,424 | |
Comprehensive income attributable to non-controlling interests | 741,967 | 1,485,112 | 1,091,937 | |
Dividends paid | 1,514,114 | 243,317 | 425,493 | |
Compass Gás e Energia [member] | ||||
Statement of financial statements [line items] | ||||
Net sales | [1] | |||
Profit before taxes | [1] | 920,426 | (2,614) | |
Income tax expenses | [1] | 10,839 | 889 | (1) |
Profit for the year | [1] | 931,265 | (1,725) | (1) |
Other comprehensive income (loss) | [1] | |||
Total comprehensive income for the year | [1] | 931,265 | (1,725) | (1) |
Comprehensive income attributable to non-controlling interests | [1] | 9,220 | ||
Dividends paid | [1] | 600,000 | ||
Comgas [member] | ||||
Statement of financial statements [line items] | ||||
Net sales | 8,317,691 | 9,514,222 | 6,840,011 | |
Profit before taxes | 1,719,877 | 1,993,963 | 1,799,963 | |
Income tax expenses | (569,264) | (626,784) | (540,995) | |
Profit for the year | 1,150,613 | 1,367,179 | 1,258,968 | |
Other comprehensive income (loss) | (32,300) | |||
Total comprehensive income for the year | 1,150,613 | 1,367,179 | 1,226,668 | |
Comprehensive income attributable to non-controlling interests | 9,762 | 10,967 | 243,835 | |
Dividends paid | 1,135,669 | 2,010,101 | 756,767 | |
Cosan S.A. [member] | ||||
Statement of financial statements [line items] | ||||
Net sales | ||||
Profit before taxes | 674,465 | 2,548,401 | 1,190,893 | |
Income tax expenses | 177,394 | (134,017) | (10,342) | |
Profit for the year | 851,859 | 2,414,384 | 1,180,551 | |
Other comprehensive income (loss) | (253,507) | (40,348) | ||
Total comprehensive income for the year | 851,859 | 2,160,877 | 1,140,203 | |
Comprehensive income attributable to non-controlling interests | 286,821 | 765,167 | 606,490 | |
Dividends paid | 574,140 | 389,256 | 446,295 | |
Sinlog Tecnologia em Logistica SA [Member] | ||||
Statement of financial statements [line items] | ||||
Net sales | 776 | 95 | ||
Profit before taxes | (9,378) | (1,207) | ||
Income tax expenses | ||||
Profit for the year | (9,378) | (1,207) | ||
Other comprehensive income (loss) | (390) | |||
Total comprehensive income for the year | (9,378) | (1,597) | ||
Comprehensive income attributable to non-controlling interests | (4,466) | 2,298 | ||
Dividends paid | ||||
Rumo S.A. [member] | ||||
Statement of financial statements [line items] | ||||
Net sales | 950,269 | 596,415 | 645,088 | |
Profit before taxes | 349,300 | 779,228 | 285,887 | |
Income tax expenses | (52,137) | (991) | (21,530) | |
Profit for the year | 297,163 | 778,237 | 264,357 | |
Other comprehensive income (loss) | 2,716 | 11,182 | ||
Total comprehensive income for the year | 297,163 | 780,953 | 275,539 | |
Comprehensive income attributable to non-controlling interests | 212,561 | 558,616 | 192,368 | |
Dividends paid | R$ 4233 | R$ 3346 | ||
[1] | Parent Company information. |
Investments in Associates - S_7
Investments in Associates - Summary of Cash Flows (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Statement of financial statements [line items] | ||||
Net increase (decrease) in cash and cash equivalents | R$ 4820036 | R$ 4607769 | R$ 1227249 | |
Cash and cash equivalents at beginning of year | 8,472,274 | 3,621,798 | 4,555,177 | |
Cash and cash equivalents at end of year | 13,642,918 | 8,472,274 | 3,621,798 | |
Compass Gás e Energia [member] | ||||
Statement of financial statements [line items] | ||||
Net cash (used in) from operating activities | [1] | (19,028) | ||
Net cash from (used in) investing activities | [1] | 776,872 | ||
Net cash (used in) from financing activities | [1] | (525,030) | ||
Net increase (decrease) in cash and cash equivalents | [1] | 232,814 | ||
Cash and cash equivalents at beginning of year | [1] | 5 | 5 | 5 |
Cash and cash equivalents at end of year | [1] | 232,819 | 5 | 5 |
Comgas [member] | ||||
Statement of financial statements [line items] | ||||
Net cash (used in) from operating activities | 2,096,546 | 2,512,303 | 1,573,171 | |
Net cash from (used in) investing activities | (1,768,298) | 202,037 | (1,121,605) | |
Net cash (used in) from financing activities | 198,890 | (2,233,548) | (1,576,470) | |
Net increase (decrease) in cash and cash equivalents | 527,138 | 480,792 | (1,124,904) | |
Cash and cash equivalents at beginning of year | 1,083,410 | 602,618 | 1,727,522 | |
Cash and cash equivalents at end of year | 1,610,548 | 1,083,410 | 602,618 | |
Cosan S.A. [member] | ||||
Statement of financial statements [line items] | ||||
Net cash (used in) from operating activities | (489,406) | 122,639 | 1,114,880 | |
Net cash from (used in) investing activities | 653,145 | 3,500,958 | 1,097,236 | |
Net cash (used in) from financing activities | (2,505,760) | (1,060,967) | (1,428,044) | |
Net increase (decrease) in cash and cash equivalents | (2,342,021) | 2,562,630 | 784,072 | |
Cash and cash equivalents at beginning of year | 3,490,707 | 928,077 | 144,005 | |
Cash and cash equivalents at end of year | 1,149,267 | 3,490,707 | 928,077 | |
Sinlog Tecnologia em Logistica SA [Member] | ||||
Statement of financial statements [line items] | ||||
Net cash (used in) from operating activities | (6,329) | (1,384) | ||
Net cash from (used in) investing activities | (2,942) | (106) | ||
Net cash (used in) from financing activities | 10,612 | 5,000 | ||
Net increase (decrease) in cash and cash equivalents | 1,341 | 3,510 | ||
Cash and cash equivalents at beginning of year | 3,510 | |||
Cash and cash equivalents at end of year | 4,851 | 3,510 | ||
Rumo S.A. [member] | ||||
Statement of financial statements [line items] | ||||
Net cash (used in) from operating activities | 463,170 | 197,313 | 166,085 | |
Net cash from (used in) investing activities | (6,632,353) | (929,861) | 32,164 | |
Net cash (used in) from financing activities | 7,037,144 | 1,432,659 | (198,584) | |
Net increase (decrease) in cash and cash equivalents | 867,961 | 700,111 | (335) | |
Cash and cash equivalents at beginning of year | 700,706 | 595 | 930 | |
Cash and cash equivalents at end of year | R$ 1568667 | R$ 700706 | R$ 595 | |
[1] | Parent Company information. |
Investments in Associates - Acq
Investments in Associates - Acquisition of subsidiaries (Detail) - BRL (R$) R$ in Thousands | Jul. 17, 2020 | Jan. 30, 2020 | |
The fair value of the assets and liabilities acquired is as follows: | |||
Cash and cash equivalents | R$ 4753 | ||
Trade receivables | 161,547 | ||
Other tax receivable | 254 | ||
Derivative financial instruments | 1,377 | ||
Other current assets | 52 | ||
Property, plant and equipment | 69 | ||
Trade payables | (97,254) | ||
Other taxes payable | (162) | ||
Other liabilities | (97) | ||
Other financial liabilities | (48,007) | ||
Dividends payable | (508) | ||
Payables to related parties | (17,063) | ||
Deferred tax liabilities | (468) | ||
Total identifiable assets, net | 4,493 | ||
The fair value of goodwill at the acquisition date consisted of: | |||
Total net assets acquired and liabilities assumed at fair value(-) | 4,493 | ||
Business combinations | |||
Disclosure of detailed information about business combination [line items] | |||
Cash transferred | 95,000 | ||
The fair value of the assets and liabilities acquired is as follows: | |||
Total identifiable assets, net | 4,493 | ||
The fair value of goodwill at the acquisition date consisted of: | |||
Consideration transferred | [1] | 99,385 | |
Total net assets acquired and liabilities assumed at fair value(-) | 4,493 | ||
Goodwill | R$ 94892 | ||
Additional payment for the acquisition | R$ 4385 | ||
Net sale of subsidiaries acquired been consolidated since the acquisition date | 9,244,777 | ||
Net profit of subsidiaries acquired been consolidated since the acquisition date | R$ 934817 | ||
Compass Comercializadora de Energia Ltda. [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of the capital acquired | 100.00% | ||
The fair value of the assets and liabilities acquired is as follows: | |||
Cash and cash equivalents | R$ 4539 | ||
Trade receivables | 12,384 | ||
Other tax receivable | 134 | ||
Derivative financial instruments | 1,377 | ||
Other current assets | 24 | ||
Property, plant and equipment | 69 | ||
Trade payables | (13,585) | ||
Other taxes payable | |||
Other liabilities | (97) | ||
Other financial liabilities | |||
Dividends payable | |||
Payables to related parties | |||
Deferred tax liabilities | (468) | ||
Total identifiable assets, net | 4,377 | ||
The fair value of goodwill at the acquisition date consisted of: | |||
Total net assets acquired and liabilities assumed at fair value(-) | R$ 4377 | ||
Compass Geracao Ltda. [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of the capital acquired | 100.00% | ||
The fair value of the assets and liabilities acquired is as follows: | |||
Cash and cash equivalents | R$ 177 | ||
Trade receivables | 149,163 | ||
Other tax receivable | 89 | ||
Derivative financial instruments | |||
Other current assets | 28 | ||
Property, plant and equipment | |||
Trade payables | (83,669) | ||
Other taxes payable | (162) | ||
Other liabilities | |||
Other financial liabilities | (48,007) | ||
Dividends payable | (508) | ||
Payables to related parties | (17,063) | ||
Deferred tax liabilities | |||
Total identifiable assets, net | 48 | ||
The fair value of goodwill at the acquisition date consisted of: | |||
Total net assets acquired and liabilities assumed at fair value(-) | R$ 48 | ||
Compass Energia Ltda. [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of the capital acquired | 100.00% | ||
The fair value of the assets and liabilities acquired is as follows: | |||
Cash and cash equivalents | R$ 37 | ||
Trade receivables | |||
Other tax receivable | 31 | ||
Derivative financial instruments | |||
Other current assets | |||
Property, plant and equipment | |||
Trade payables | |||
Other taxes payable | |||
Other liabilities | |||
Other financial liabilities | |||
Dividends payable | |||
Payables to related parties | |||
Deferred tax liabilities | |||
Total identifiable assets, net | 68 | ||
The fair value of goodwill at the acquisition date consisted of: | |||
Total net assets acquired and liabilities assumed at fair value(-) | R$ 68 | ||
Black River Participacoes Ltda. [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of the capital acquired | 100.00% | ||
[1] | On July 17, 2020, the Company made an additional payment for the acquisition of Compass Trading in the amount of R$4,385, as provided for in the agreement. |
Investments in Joint Ventures -
Investments in Joint Ventures - Summary of Changes to Investments in Joint Ventures (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of joint ventures [line items] | |||
Beginning balance | R$ 7548960 | R$ 8077907 | |
Interest in earnings of joint ventures | 583,001 | 1,131,406 | R$ 946282 |
Other comprehensive income (loss) | (69,948) | (197,240) | |
Interest on capital | (73,388) | (63,500) | |
Dividends | (417) | (1,399,613) | |
Ending balance | R$ 7988208 | 7,548,960 | 8,077,907 |
Raizen Combustiveis S A [member] | |||
Disclosure of joint ventures [line items] | |||
Shares issued by the joint venture | 1,661,418,472 | ||
Shares held by Cosan | 830,709,236 | ||
Proportion of ownership interest in joint venture | 50.00% | ||
Beginning balance | R$ 3212601 | 3,104,613 | |
Interest in earnings of joint ventures | 332,240 | 1,223,557 | |
Other comprehensive income (loss) | 376,053 | (4,770) | |
Interest on capital | (73,388) | (63,500) | |
Dividends | (1,047,299) | ||
Ending balance | R$ 3847506 | 3,212,601 | 3,104,613 |
Raizen Energia S A [member] | |||
Disclosure of joint ventures [line items] | |||
Shares issued by the joint venture | 7,243,283,198 | ||
Shares held by Cosan | 3,621,641,599 | ||
Proportion of ownership interest in joint venture | 50.00% | ||
Beginning balance | R$ 4336359 | 4,973,294 | |
Interest in earnings of joint ventures | 250,761 | (92,151) | |
Other comprehensive income (loss) | (446,001) | (192,470) | |
Interest on capital | |||
Dividends | (417) | (352,314) | |
Ending balance | R$ 4140702 | R$ 4336359 | R$ 4973294 |
Investments in Joint Ventures_2
Investments in Joint Ventures - Additional Information (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($)jointventure | |
Disclosure of joint ventures [line items] | |
Number of joint ventures | jointventure | 2 |
Credit facility unused | $ | $ 350,000 |
Raizen Combustiveis S A [member] | |
Disclosure of joint ventures [line items] | |
Ownership interest percentage in joint venture | 50.00% |
Raizen Energia S A [member] | |
Disclosure of joint ventures [line items] | |
Ownership interest percentage in joint venture | 50.00% |
Property, plant and equipment_3
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about intangible assets [line items] | ||
Capitalized borrowing costs | R$ 36522 | R$ 19877 |
Weighted average interest rate used to capitalize borrowing costs | 7.40% | 7.29% |
Impairment of assets and goodwill recognized | R$ 0 | |
Description Of Agreement Of Intangible Assets | the concession right recognized upon the business combination of Comgás, which is being amortized over the concession period on a straight line basis, considering the extension of the distribution services for another 20 years | |
Cosan Logistica S.A. [member] | Cash-generating units [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Provision for Impairment | R$ 143987 | |
Provision for Impairment related to fixed assets | 143,018 | |
Provision for Impairment related to right-of-use assets | R$ 966 | |
Cosan S.A. [member] | Moove [member] | Cash-generating units [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Assumption period for cash-generating unit | 10 years | |
Weighted average cost of capital before taxes, percentage | 8.75% | 9.00% |
Recoverable value | R$ 7377386 | |
Book value of property, plant and equipment and intangible assets and right-of-use assets | R$ 1647756 | |
Discount rate applied to future cash flows | 8.75% | |
Cosan S.A. [member] | Moove [member] | Cash-generating units [member] | Brazil [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate basis which is calculated using inflation index per region | IPCA 3.3% | |
Adjustment to growth rate basis | 3.30% | |
Cosan S.A. [member] | Moove [member] | Cash-generating units [member] | United Kingdom [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate basis which is calculated using inflation index per region | London interbank offered rate, or “Libor,” 2.3% | |
Adjustment to growth rate basis | 2.30% |
Property, plant and equipment_4
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Additional Information (Detail 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Capitalized borrowing costs | R$ 36522 | R$ 19877 |
Property, plant and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Capitalized borrowing costs | R$ 34107 | R$ 2506 |
Property, plant and equipment_5
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Summary of Depreciation on Straight-line Basis Over the Estimated Useful life of Assets (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Computer equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 20.00% |
Bottom of range [member] | Buildings and improvements [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 4.00% |
Bottom of range [member] | Machinery, equipment and facilities [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 8.00% |
Bottom of range [member] | Airplanes, vessels and vehicles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 10.00% |
Bottom of range [member] | Railcars [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 2.90% |
Bottom of range [member] | Locomotives [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 3.30% |
Bottom of range [member] | Permanent railways [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 3.00% |
Bottom of range [member] | Furniture and fixtures [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 10.00% |
Top of range [member] | Buildings and improvements [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 5.00% |
Top of range [member] | Machinery, equipment and facilities [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 11.00% |
Top of range [member] | Airplanes, vessels and vehicles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 20.00% |
Top of range [member] | Railcars [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 6.00% |
Top of range [member] | Locomotives [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 8.00% |
Top of range [member] | Permanent railways [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 4.00% |
Top of range [member] | Furniture and fixtures [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 15.00% |
Property, plant and equipment_6
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Schedule of Property Plant and Equipment (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | R$ 12153136 | ||
Ending balance | 14,068,506 | R$ 12153136 | |
Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 17,018,401 | 15,002,454 | |
Additions | 3,326,796 | 2,016,066 | |
Disposals | (122,177) | (158,072) | |
Transfers | [1] | 144,787 | 279,647 |
Effect of exchange rate fluctuations | 70,492 | 9,546 | |
Discontinued operation | (131,240) | ||
Ending balance | 20,438,299 | 17,018,401 | |
Depreciation and Amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (4,865,265) | (3,446,227) | |
Additions | (1,319,135) | (1,480,099) | |
Disposals | 112,517 | 146,679 | |
Transfers | [1] | (121,417) | (123,022) |
Impairment | (143,018) | ||
Effect of exchange rate fluctuations | (33,475) | (1,887) | |
Discontinued operation | 39,291 | ||
Ending balance | (6,369,793) | (4,865,265) | |
Land, buildings and improvements [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 825,931 | ||
Ending balance | 1,069,871 | 825,931 | |
Land, buildings and improvements [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 1,186,365 | 1,113,427 | |
Additions | 125 | 125 | |
Disposals | (576) | (3,634) | |
Transfers | [1] | 370,302 | 132,461 |
Effect of exchange rate fluctuations | 21,028 | 3,903 | |
Discontinued operation | (59,917) | ||
Ending balance | 1,577,244 | 1,186,365 | |
Land, buildings and improvements [member] | Depreciation and Amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (360,434) | (300,711) | |
Additions | (60,907) | (72,329) | |
Disposals | 7 | 131 | |
Transfers | [1] | (75,174) | 3,546 |
Impairment | (2,811) | ||
Effect of exchange rate fluctuations | (8,054) | (549) | |
Discontinued operation | 9,478 | ||
Ending balance | (507,373) | (360,434) | |
Machinery, equipment and facilities [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 631,843 | ||
Ending balance | 724,822 | 631,843 | |
Machinery, equipment and facilities [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 1,163,862 | 1,043,032 | |
Additions | 2,528 | 1,986 | |
Disposals | (2,113) | (21,474) | |
Transfers | [1] | 261,705 | 205,355 |
Effect of exchange rate fluctuations | 31,252 | 3,070 | |
Discontinued operation | (68,107) | ||
Ending balance | 1,457,234 | 1,163,862 | |
Machinery, equipment and facilities [member] | Depreciation and Amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (532,019) | (440,677) | |
Additions | (138,579) | (135,267) | |
Disposals | 1,188 | 20,287 | |
Transfers | [1] | (38,107) | (2,884) |
Impairment | (8,898) | ||
Effect of exchange rate fluctuations | (15,997) | (672) | |
Discontinued operation | 27,194 | ||
Ending balance | (732,412) | (532,019) | |
Railcars and locomotives [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | [2] | 4,085,483 | |
Ending balance | [2] | 4,239,327 | 4,085,483 |
Railcars and locomotives [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | [2] | 6,000,272 | 5,263,961 |
Additions | [2] | 17,900 | 29,773 |
Disposals | [2] | (94,689) | (105,592) |
Transfers | [1],[2] | 796,982 | 812,130 |
Effect of exchange rate fluctuations | [2] | ||
Discontinued operation | [2] | ||
Ending balance | [2] | 6,720,465 | 6,000,272 |
Railcars and locomotives [member] | Depreciation and Amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | [2] | (1,914,789) | (1,280,966) |
Additions | [2] | (566,259) | (632,170) |
Disposals | [2] | 90,668 | 104,872 |
Transfers | [1],[2] | (59,353) | (106,525) |
Impairment | [2] | (31,405) | |
Effect of exchange rate fluctuations | [2] | ||
Discontinued operation | [2] | ||
Ending balance | [2] | (2,481,138) | (1,914,789) |
Permanent easement [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 4,703,555 | ||
Ending balance | 4,820,827 | 4,703,555 | |
Permanent easement [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 6,724,322 | 6,127,139 | |
Additions | 1,193 | 1,802 | |
Disposals | |||
Transfers | [1] | 645,611 | 595,381 |
Effect of exchange rate fluctuations | |||
Discontinued operation | |||
Ending balance | 7,371,126 | 6,724,322 | |
Permanent easement [member] | Depreciation and Amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (2,020,767) | (1,406,964) | |
Additions | (517,033) | (611,575) | |
Disposals | 6 | ||
Transfers | [1] | 67,841 | (2,234) |
Impairment | (80,340) | ||
Effect of exchange rate fluctuations | |||
Discontinued operation | |||
Ending balance | (2,550,299) | (2,020,767) | |
Construction in progress [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 1,502,155 | ||
Ending balance | 2,790,795 | 1,502,155 | |
Construction in progress [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 1,509,025 | 1,054,128 | |
Additions | 3,303,937 | 1,979,943 | |
Disposals | (506) | (1,362) | |
Transfers | [1] | (2,008,901) | (1,525,318) |
Effect of exchange rate fluctuations | 619 | 1,634 | |
Discontinued operation | |||
Ending balance | 2,804,174 | 1,509,025 | |
Construction in progress [member] | Depreciation and Amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (6,870) | (10,842) | |
Additions | (2,048) | ||
Disposals | |||
Transfers | [1] | 2,795 | 3,972 |
Impairment | (7,256) | ||
Effect of exchange rate fluctuations | |||
Discontinued operation | |||
Ending balance | (13,379) | (6,870) | |
Other [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 404,169 | ||
Ending balance | 422,864 | 404,169 | |
Other [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 434,555 | 400,767 | |
Additions | 1,113 | 2,437 | |
Disposals | (24,293) | (26,010) | |
Transfers | [1] | 79,088 | 59,638 |
Effect of exchange rate fluctuations | 17,593 | 939 | |
Discontinued operation | (3,216) | ||
Ending balance | 508,056 | 434,555 | |
Other [member] | Depreciation and Amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (30,386) | (6,067) | |
Additions | (34,309) | (28,758) | |
Disposals | 20,654 | 21,383 | |
Transfers | [1] | (19,419) | (18,897) |
Impairment | (12,308) | ||
Effect of exchange rate fluctuations | (9,424) | (666) | |
Discontinued operation | 2,619 | ||
Ending balance | R$ 85192 | R$ 30386 | |
[1] | They are substantially transferring from property, plant and equipment under construction as a result of the capitalization of said assets. | ||
[2] | On December 31, 2020 and 2019, wagons and locomotives in the amount of R$745,203 were pledged to guarantee bank loans (Note 7.5). |
Property, plant and equipment_7
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Schedule of Property Plant and Equipment (Parenthetical) (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Wagons and locomotives [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Bank loan guarantee | R$ 745203 | R$ 745203 |
Property, plant and equipment_8
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Summary of Intangible Assets and Goodwill (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | R$ 16843659 | |
Ending balance | 17,308,439 | R$ 16843659 |
Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 20,627,829 | 20,101,670 |
Additions | 137,199 | 113,518 |
Business combinations | 94,892 | |
Disposals | (61,047) | (67,482) |
Transfers | 1,066,533 | 453,593 |
Effect of exchange rate fluctuations | 181,005 | 27,348 |
Discontinued operation | (818) | |
Ending balance | 22,046,411 | 20,627,829 |
Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (3,784,170) | (3,129,135) |
Additions | (677,024) | (665,429) |
Disposals | 21,958 | 14,917 |
Transfers | (275,904) | (6,013) |
Impairment | (143,018) | |
Effect of exchange rate fluctuations | (22,832) | 907 |
Discontinued operation | 583 | |
Ending balance | (4,737,972) | (3,784,170) |
Goodwill [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 904,977 | |
Ending balance | 1,088,720 | 904,977 |
Goodwill [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 904,977 | 883,234 |
Additions | 8,167 | 2,795 |
Business combinations | 94,892 | |
Disposals | ||
Transfers | ||
Effect of exchange rate fluctuations | 80,684 | 18,948 |
Discontinued operation | ||
Ending balance | 1,088,720 | 904,977 |
Goodwill [member] | Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | ||
Additions | ||
Disposals | ||
Transfers | ||
Effect of exchange rate fluctuations | ||
Discontinued operation | ||
Ending balance | ||
Concession rights [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 15,139,819 | |
Ending balance | 15,318,664 | 15,139,819 |
Concession rights [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 18,024,518 | 17,631,883 |
Additions | 5,227 | 12,031 |
Business combinations | ||
Disposals | (48,442) | (67,259) |
Transfers | 695,140 | 447,863 |
Effect of exchange rate fluctuations | ||
Discontinued operation | ||
Ending balance | 18,676,443 | 18,024,518 |
Concession rights [member] | Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (2,884,699) | (2,383,823) |
Additions | (490,100) | (515,615) |
Disposals | 17,030 | 14,747 |
Transfers | (10) | (8) |
Effect of exchange rate fluctuations | ||
Discontinued operation | ||
Ending balance | (3,357,779) | (2,884,699) |
Operating license [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 199,673 | |
Ending balance | 187,899 | 199,673 |
Operating license [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 435,795 | 435,624 |
Additions | ||
Business combinations | ||
Disposals | ||
Transfers | 171 | |
Effect of exchange rate fluctuations | ||
Discontinued operation | ||
Ending balance | 435,795 | 435,795 |
Operating license [member] | Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (236,122) | (224,356) |
Additions | (11,774) | (11,766) |
Disposals | ||
Transfers | ||
Effect of exchange rate fluctuations | ||
Discontinued operation | ||
Ending balance | (247,896) | (236,122) |
Trademarks [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 36,969 | |
Ending balance | 54,207 | 36,969 |
Trademarks [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 46,170 | 37,877 |
Additions | ||
Business combinations | ||
Disposals | ||
Transfers | (5,504) | |
Effect of exchange rate fluctuations | 13,541 | 8,293 |
Discontinued operation | ||
Ending balance | 54,207 | 46,170 |
Trademarks [member] | Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (9,201) | |
Additions | (9,201) | |
Disposals | ||
Transfers | 9,201 | |
Effect of exchange rate fluctuations | ||
Discontinued operation | ||
Ending balance | (9,201) | |
Customer-related intangible assets [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 418,642 | |
Ending balance | 519,915 | 418,642 |
Customer-related intangible assets [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 829,091 | 742,863 |
Additions | 111,656 | 85,438 |
Business combinations | ||
Disposals | (131) | (215) |
Transfers | 408,470 | (704) |
Effect of exchange rate fluctuations | 75,861 | 1,709 |
Discontinued operation | ||
Ending balance | 1,424,947 | 829,091 |
Customer-related intangible assets [member] | Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (410,449) | (314,619) |
Additions | (86,162) | (95,034) |
Disposals | 111 | 162 |
Transfers | (390,554) | (3,626) |
Effect of exchange rate fluctuations | (17,978) | 2,668 |
Discontinued operation | ||
Ending balance | (905,032) | (410,449) |
Other [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 143,579 | |
Ending balance | 139,034 | 143,579 |
Other [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 387,278 | 370,189 |
Additions | 12,149 | 13,254 |
Business combinations | ||
Disposals | (12,474) | (8) |
Transfers | (31,573) | 6,263 |
Effect of exchange rate fluctuations | 10,919 | (1,602) |
Discontinued operation | (818) | |
Ending balance | 366,299 | 387,278 |
Other [member] | Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (243,699) | (206,337) |
Additions | (88,988) | (33,813) |
Disposals | 4,817 | 8 |
Transfers | 105,459 | (2,379) |
Effect of exchange rate fluctuations | (4,854) | (1,761) |
Discontinued operation | 583 | |
Ending balance | R$ 227265 | R$ 243699 |
Property, plant and equipment_9
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Summary of Intangible Assets (Excluding Goodwill) (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | R$ 16219719 | R$ 15938682 | |
Concession rights [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | 15,318,664 | 15,139,819 | |
Concession rights [member] | Companhia de Gas de Sao Paulo - COMGAS [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | [1] | 8,425,014 | 8,129,822 |
Concession rights [member] | A L L Malha Norte [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | [2] | R$ 6893650 | 7,009,997 |
Right of way and operating license [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Annual rate of amortization | 3.70% | ||
Intangible assets other than goodwill | R$ 187899 | 199,673 | |
Trademarks [member] | Comma [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | 54,207 | 36,969 | |
Customer-related intangible assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | R$ 519915 | 418,642 | |
Customer-related intangible assets [member] | Companhia de Gas de Sao Paulo - COMGAS [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Annual rate of amortization | 20.00% | ||
Intangible assets other than goodwill | R$ 210038 | 161,786 | |
Customer-related intangible assets [member] | Moove cash generating unit [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Annual rate of amortization | 6.00% | ||
Intangible assets other than goodwill | R$ 309877 | 256,856 | |
Computer software [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Annual rate of amortization | 20.00% | ||
Intangible assets other than goodwill | R$ 86090 | 81,669 | |
Other [member] | Mobil [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | 52,944 | 61,910 | |
Other [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | R$ 139034 | R$ 143579 | |
[1] | Refers to the intangible asset for the public gas distribution service concession, which represents the right to charge users for the supply of gas, comprised of: (i) the concession rights recognized in the business combination and (ii) concession assets. | ||
[2] | Refers to the railroad concession right agreement of Rumo. |
Property, plant and equipmen_10
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Summary of transaction charts of right of use assets (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | R$ 4469730 | |
Additions | 3,531,470 | R$ 2777275 |
Transfers | 59,745 | |
Ending Balance | 7,916,230 | 4,469,730 |
Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 5,181,933 | 2,451,253 |
Additions | 3,565,590 | 2,916,632 |
Contractual adjustments | 263,887 | 64,909 |
Transfers | (107,963) | (250,393) |
Currency translation adjustments | 8,490 | (468) |
Ending Balance | 8,911,937 | 5,181,933 |
Accumulated depreciation and amortisation [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (713,618) | (647,271) |
Additions | (339,486) | (166,342) |
Transfers | 99,995 | |
Currency translation adjustments | (1,382) | |
Impairment | (966) | |
Ending Balance | (995,707) | (713,618) |
Land and buildings [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 168,465 | |
Ending Balance | 264,998 | 168,465 |
Land and buildings [member] | Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 247,430 | 230,615 |
Additions | 124,014 | 7,073 |
Contractual adjustments | 187 | 9,883 |
Transfers | 327 | |
Currency translation adjustments | 9,197 | (468) |
Ending Balance | 380,828 | 247,430 |
Land and buildings [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (78,965) | (50,450) |
Additions | (34,977) | (21,282) |
Transfers | (7,233) | |
Currency translation adjustments | (1,888) | |
Impairment | ||
Ending Balance | (115,830) | (78,965) |
Machinery, equipment and facilities [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 7,644 | |
Ending Balance | 27,027 | 7,644 |
Machinery, equipment and facilities [member] | Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 10,718 | 11,168 |
Additions | 18,714 | 3,045 |
Contractual adjustments | 10,397 | (956) |
Transfers | (2,539) | |
Currency translation adjustments | (707) | |
Ending Balance | 39,122 | 10,718 |
Machinery, equipment and facilities [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (3,074) | (2,532) |
Additions | (9,527) | (3,074) |
Transfers | 2,532 | |
Currency translation adjustments | 506 | |
Impairment | ||
Ending Balance | (12,095) | (3,074) |
Freight cars and Locomotives [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 671,569 | |
Ending Balance | 572,585 | 671,569 |
Freight cars and Locomotives [member] | Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 1,038,641 | 1,286,671 |
Additions | 864 | 1,004 |
Contractual adjustments | 1,783 | 712 |
Transfers | (107,963) | (249,746) |
Currency translation adjustments | ||
Ending Balance | 933,325 | 1,038,641 |
Freight cars and Locomotives [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (367,072) | (462,748) |
Additions | (53,413) | (9,018) |
Transfers | 59,745 | 104,694 |
Currency translation adjustments | ||
Impairment | ||
Ending Balance | (360,740) | (367,072) |
Software [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 59,337 | |
Transfers | ||
Ending Balance | 69,835 | 59,337 |
Software [Member] | Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 66,931 | 66,931 |
Additions | 15,438 | |
Contractual adjustments | ||
Transfers | ||
Currency translation adjustments | ||
Ending Balance | 82,369 | 66,931 |
Software [Member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (7,594) | |
Additions | (4,940) | (7,594) |
Transfers | ||
Currency translation adjustments | ||
Impairment | ||
Ending Balance | (12,534) | (7,594) |
Vehicles [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 7,802 | |
Transfers | ||
Ending Balance | 896 | 7,802 |
Vehicles [member] | Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 14,259 | 13,085 |
Additions | 732 | |
Contractual adjustments | (334) | 442 |
Transfers | ||
Currency translation adjustments | ||
Ending Balance | 13,925 | 14,259 |
Vehicles [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (6,457) | |
Additions | (6,572) | (6,459) |
Transfers | 2 | |
Currency translation adjustments | ||
Impairment | ||
Ending Balance | (13,029) | (6,457) |
Port and rail infrastructure [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 3,553,498 | |
Transfers | ||
Ending Balance | 6,980,889 | 3,553,498 |
Port and rail infrastructure [Member] | Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 3,803,954 | 842,783 |
Additions | 3,406,560 | 2,904,778 |
Contractual adjustments | 251,854 | 54,828 |
Transfers | 1,565 | |
Currency translation adjustments | ||
Ending Balance | 7,462,368 | 3,803,954 |
Port and rail infrastructure [Member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (250,456) | (131,541) |
Additions | (230,057) | (118,915) |
Transfers | ||
Currency translation adjustments | ||
Impairment | (966) | |
Ending Balance | R$ 481479 | R$ 250456 |
Disclosure - Property, plant an
Disclosure - Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Summary of transaction charts of contract asset (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets | ||
Beginning of period | R$ 600541 | R$ 227260 |
Additions | 888,939 | 819,567 |
Disposals | (9,691) | |
Transfer to concession rights and customer relationships | (793,542) | (436,595) |
End of period | R$ 695938 | R$ 600541 |
Commitments (Detail)
Commitments (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | May 27, 2020 | |
Comgas [member] | Natural gas distribution [member] | ||
Disclosure of detailed information about commitments [line items] | ||
Financial commitment in an estimated present value | R$ 8621515 | |
Rumo S.A. [member] | Port elevation [member] | ||
Disclosure of detailed information about commitments [line items] | ||
Financial commitment in an estimated present value | 340,000 | |
Investments at cost | 270,629 | |
Rumo Malha Paulista S.A. [member] | ||
Disclosure of detailed information about commitments [line items] | ||
Estimated investments to be made for sub-concession contracts | 6,100,000 | R$ 6100000 |
Obligations of estimated investments for sub-concession contracts | R$ 3000000 | |
Percentage of physical execution | 6.00% | |
Rumo Malha Central S.A. | ||
Disclosure of detailed information about commitments [line items] | ||
Estimated investments to be made for sub-concession contracts | R$ 620050 | |
Percentage of physical execution | 56.00% | |
Rumo Malha Central S.A. | Bottom of range [member] | ||
Disclosure of detailed information about commitments [line items] | ||
Contractual fixed term | 1 year | |
Rumo Malha Central S.A. | Top of range [member] | ||
Disclosure of detailed information about commitments [line items] | ||
Contractual fixed term | 3 years |
Concessions payable- Summary of
Concessions payable- Summary of Concessions Payable (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | R$ 2983342 | R$ 3454880 |
Current | 158,705 | 9,847 |
Non-current | 2,824,637 | 3,445,033 |
Court Discussion [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 1,719,635 | 3,398,256 |
Court Discussion [member] | Rumo Malha Paulista S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 101,871 | 1,870,018 |
Court Discussion [member] | Rumo Malha Oeste S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 1,617,764 | 1,528,238 |
Railroad concession payable under litigation | Rumo Malha Paulista S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 1,154,919 | |
Payables | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 108,788 | 56,624 |
Payables | Rumo Malha Paulista S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 24,151 | 20,003 |
Payables | Rumo Malha Sul S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | R$ 84637 | R$ 36621 |
Concessions payable - Additiona
Concessions payable - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of Concessions Payable And Judicial Deposits [line items] | |||
Recognized indemnification amount | R$ 726000 | ||
Railroad concession payable under litigation | Rumo S.A. [member] | |||
Disclosure of Concessions Payable And Judicial Deposits [line items] | |||
Recognized indemnification amount | 479,563 | ||
Gain on reversal of lease liabilities related to other income (expenses) | 348,319 | ||
Gain on reversal of lease liabilities related to financial result | R$ 131243 |
Concessions payable - Summary o
Concessions payable - Summary of judicial deposits (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of judicial deposits [line items] | ||
Judicial deposits | R$ 22119 | R$ 141509 |
Rumo Malha Paulista [member] | ||
Disclosure of judicial deposits [line items] | ||
Judicial deposits | 119,806 | |
Rumo Malha Oeste [member] | ||
Disclosure of judicial deposits [line items] | ||
Judicial deposits | R$ 22119 | R$ 21703 |
Concessions payable - Summary_2
Concessions payable - Summary of leases and grants related to concession payable (Detail) R$ in Thousands | Sep. 15, 2020BRL (R$)Installment | Dec. 31, 2020BRL (R$) | Dec. 31, 2019BRL (R$) | |
Leases and grants under IFRS 16 | ||||
Leases and grants related to concession payable | R$ 2328924 | R$ 3943486 | ||
Current leases and grants related to concession payable | 232,212 | 402,991 | ||
Non-current leases and grants related to concession payable | 2,096,712 | 3,540,495 | ||
Leases | ||||
Leases and grants under IFRS 16 | ||||
Leases | 1,345,348 | 1,214,555 | ||
Leases | Rumo Malha Sul S.A. [member] | ||||
Leases and grants under IFRS 16 | ||||
Leases | 600,745 | 532,496 | ||
Leases | Rumo Malha Paulista S.A. [member] | ||||
Leases and grants under IFRS 16 | ||||
Leases | 475,647 | 377,944 | ||
Leases | Rumo Malha Oeste S.A. [member] | ||||
Leases and grants under IFRS 16 | ||||
Leases | 179,568 | 216,096 | ||
Leases | Elevacoes Portuarias | ||||
Leases and grants under IFRS 16 | ||||
Leases | 76,925 | 74,584 | ||
Leases | Portofer | ||||
Leases and grants under IFRS 16 | ||||
Leases | 12,463 | 13,435 | ||
Grants | ||||
Leases and grants under IFRS 16 | ||||
Grants | 983,576 | 2,728,931 | ||
Installments amount falling due of grants concession payable | R$ 5100511 | |||
Grants | Rumo Malha Paulista S.A. [member] | ||||
Leases and grants under IFRS 16 | ||||
Grants | [1] | 492,222 | ||
Number of installments for concession agreement | Installment | 70 | |||
Installments amount falling due of grants concession payable | R$ 2823777 | |||
Grants | Rumo Malha Central S.A. | ||||
Leases and grants under IFRS 16 | ||||
Grants | R$ 491354 | R$ 2728931 | ||
Number of installments for concession agreement | Installment | 59 | |||
Installments amount falling due of grants concession payable | R$ 2276734 | |||
[1] | On September 15, 2020, Rumo Malha Paulista and Rumo Malha Central paid 70 installments falling due in the amount of R$ 2,823,777 and 59 installments falling due in the amount of R$ 2,276,734, respectively, totaling R$ 5,100,511, as required by Letter No. 969/GREG/2020 and Letter No. 968/GREG/2020 to ANTT (See Note 2). |
Sector financial asset and li_3
Sector financial asset and liability - Summary of changes in net sector financial asset (liability) (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2020 | ||
Reconciliation of changes in net sector financial asset (liability) | |||
Net sector financial asset (liability) at beginning of period | |||
Cost of gas | 201,346 | ||
Credits of taxes | [1] | (565,911) | |
Interest | 13,458 | ||
Other revenue | 26,945 | ||
Net sector financial asset (liability) at end of period | (324,162) | ||
Current | R$ 149837 | ||
Non-current | (473,999) | ||
Net sector financial asset (liability) | (324,162) | ||
Sectorial assets | |||
Reconciliation of changes in net sector financial asset (liability) | |||
Net sector financial asset (liability) at beginning of period | |||
Cost of gas | 201,346 | ||
Credits of taxes | [1] | ||
Interest | 13,458 | ||
Other revenue | 26,945 | ||
Net sector financial asset (liability) at end of period | 241,749 | ||
Current | 241,749 | ||
Non-current | |||
Net sector financial asset (liability) | 241,749 | 241,749 | |
Sectorial liabilities | |||
Reconciliation of changes in net sector financial asset (liability) | |||
Net sector financial asset (liability) at beginning of period | |||
Cost of gas | |||
Credits of taxes | [1] | (565,911) | |
Interest | |||
Other revenue | |||
Net sector financial asset (liability) at end of period | (565,911) | ||
Current | (91,912) | ||
Non-current | (473,999) | ||
Net sector financial asset (liability) | R$ 565911 | ||
[1] | PIS and COFINS tax credits on certain operations. |
Other Taxes Payable - Schedule
Other Taxes Payable - Schedule of Other Taxes Payable (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other taxes [line items] | ||
Other tax payable | R$ 566344 | R$ 518121 |
Current | 417,326 | 363,051 |
Non-Current | 149,018 | 155,070 |
R- E- F- I- S- [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 202,378 | 213,360 |
ICMS - State VAT [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 198,708 | 161,254 |
COFINS - Revenue tax [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 61,930 | 84,953 |
PIS - Revenue tax [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 16,578 | 19,426 |
INSS - Social security [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 29,515 | 10,513 |
ISS [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 1,108 | 6,753 |
IOF [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 873 | 309 |
Other [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | R$ 55254 | R$ 21553 |
Other Taxes Payable - Summary o
Other Taxes Payable - Summary of Amounts Due on Non-Current Liabilities and Maturity Schedule (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other taxes [line items] | ||
Other tax payable non current | R$ 149018 | R$ 155070 |
13 to 24 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 7,254 | 5,654 |
25 to 36 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 3,143 | 4,936 |
37 to 48 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 1,478 | 4,486 |
49 to 60 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 691 | 3,225 |
61 to 72 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 134,151 | 136,558 |
73 to 84 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 691 | 48 |
85 to 96 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 691 | 48 |
Thereafter [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | R$ 919 | R$ 115 |
Income Tax and Social Contrib_3
Income Tax and Social Contribution - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | |
Income tax rate | 34.00% |
Maximum permitted tax loss carry forwards percentage | 30.00% |
Income Tax and Social Contrib_4
Income Tax and Social Contribution - Schedule of Reconciliation of Income and Social Contribution Tax Expenses (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | |||
Profit before taxes | R$ 1990961 | R$ 3661948 | R$ 2871897 |
Income tax and social contribution nominal rate | (676,927) | (1,245,062) | (976,445) |
Adjustments to determine the effective rate | |||
Interest in earnings of investees (non-taxable income) | 207,940 | 385,097 | 337,058 |
Differences in tax rates on earnings (losses) of overseas companies | 19,793 | (78,026) | (12,423) |
Granted income tax incentive | 109,081 | 178,609 | 48,541 |
Share-based payment transactions | 9,941 | 19,986 | (1,363) |
Interest on shareholders' equity | (24,773) | (26,766) | (19,777) |
Non-deductible expenses (donations, gifts, etc.) | (4,183) | (16,925) | (14,405) |
Tax losses not recorded | (170,017) | (69,335) | (134,401) |
Goodwill amortization effect | 1,271 | 1,271 | 1,853 |
Other | 25,207 | 71,555 | 10,875 |
Income Taxes | R$ 502667 | R$ 779596 | R$ 760487 |
Effective rate | 25.25% | 21.29% | 26.48% |
Income Tax and Social Contrib_5
Income Tax and Social Contribution - Schedule of Reconciliation of Income and Social Contribution Tax Expenses (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | |
Income tax and social contribution nominal rate | (34.00%) |
Income Tax and Social Contrib_6
Income Tax and Social Contribution - Summary of Deferred Income Tax Assets and Liabilities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Jan. 31, 2020 | Dec. 31, 2019 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | ||||
Income tax losses | R$ 2574260 | R$ 2136077 | ||
Social contribution losses | 929,432 | 779,252 | ||
Temporary differences | ||||
Regulatory assets | 53,875 | |||
Share-based payment transactions | 19,129 | 9,879 | ||
Allowance for expected credit losses | 31,416 | 26,969 | ||
Profit sharing | 41,080 | 63,987 | ||
Tax credit losses | 83,833 | 79,928 | ||
Interest on preferred shareholders payable in subsidiaries | 167,412 | 89,931 | ||
Post-employment benefits | 200,461 | 214,496 | ||
Loss allowances for impairment | 226,092 | 203,057 | ||
Provision for legal proceedings | 288,967 | 305,473 | ||
Miscellaneous expense allowance | 366,224 | 348,212 | ||
Review of useful life of property, plant and equipment | 399,537 | 408,581 | ||
Foreign exchange-Loans and borrowings | [1] | 1,962,892 | 921,811 | |
Other | 242,018 | 112,240 | ||
Deferred taxes-Assets | 7,532,753 | 5,753,768 | ||
(-) Deferred taxes assets not recognized | (2,318,998) | (2,198,164) | ||
Fair value option to loans | 526,001 | 174,596 | ||
Business combination-property, plant and equipment | (2,640) | 27,666 | ||
Leases | (25,460) | (36,347) | ||
Tax deductible goodwill | [2] | (839,939) | (390,249) | |
Income on formation of joint ventures | (1,135,036) | (1,135,036) | ||
Unrealized gains on derivatives instruments | (2,206,216) | (923,672) | ||
Business combination-Intangible asset | (3,603,568) | (3,663,085) | ||
Other | 282,212 | 114,525 | ||
Total | (7,004,646) | (5,831,602) | ||
Total deferred taxes recorded, net | (1,790,891) | (2,275,998) | ||
Deferred tax assets | 1,900,241 | 1,607,566 | ||
Deferred tax liabilities | R$ 3691132 | R$ 3883564 | ||
Capital loss due to voluntary tender offer for acquisition of common shares | R$ 1321000 | |||
Deferred income tax liabilities, goodwill recorded in equity | R$ 449000 | |||
[1] | The Company opted for the cash regime for the taxation of the exchange variation on loans and financing for the years ended December 31, 2020. | |||
[2] | On January 14, 2020,CosanS.A. contributed to the capital of the CompassGáseEnergiathe investment it held in the Comgás. As a result, the costs recorded in shareholders' equity, derived from the goodwill paid on the acquisitions ofComgásshares in voluntary tender offer occurred during the year2019, totaling R$capital loss. Associated with this amount, a deferred income tax loss of R$was recorded. On the other hand, deferred income tax liabilities were recorded, canceling the effect of the result in the accounting, to be reversed when the future write-off of said goodwill. |
Income Tax and Social Contrib_7
Income Tax and Social Contribution - Summary of Changes in Deferred Tax (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred tax assets and liabilities [abstract] | ||
Total deferred taxes recorded | R$ 1790891 | R$ 2275998 |
Tax loss and negative basis | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 2,915,329 | 2,991,933 |
(Charged) / credited to the profit for the year | 587,315 | (76,604) |
Other comprehensive income (loss) | 1,048 | |
Exchange differences | ||
Discontinued operation | ||
Ending balance | 3,503,692 | 2,915,329 |
Employee benefits | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 73,866 | 56,847 |
(Charged) / credited to the profit for the year | (13,657) | 16,938 |
Other comprehensive income (loss) | 81 | |
Exchange differences | ||
Discontinued operation | ||
Ending balance | 60,209 | 73,866 |
Provisions | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 963,637 | 950,991 |
(Charged) / credited to the profit for the year | (1,612) | 12,646 |
Other comprehensive income (loss) | 34,505 | |
Exchange differences | ||
Discontinued operation | ||
Ending balance | 996,530 | 963,637 |
Post- employment obligations | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 214,496 | 175,177 |
(Charged) / credited to the profit for the year | 14,958 | 3,809 |
Other comprehensive income (loss) | (28,993) | 35,510 |
Exchange differences | ||
Discontinued operation | ||
Ending balance | 200,461 | 214,496 |
Property, plant and equipment | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 408,581 | 277,924 |
(Charged) / credited to the profit for the year | (9,044) | 130,657 |
Other comprehensive income (loss) | ||
Exchange differences | ||
Discontinued operation | ||
Ending balance | 399,537 | 408,581 |
Unregistered credits | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (2,198,164) | (2,104,743) |
(Charged) / credited to the profit for the year | (120,834) | (118,087) |
Other comprehensive income (loss) | ||
Exchange differences | (2,827) | |
Discontinued operation | 27,493 | |
Ending balance | (2,318,998) | (2,198,164) |
Other | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 1,177,857 | 1,072,369 |
(Charged) / credited to the profit for the year | 113,454 | (5,667) |
Other comprehensive income (loss) | 39,930 | (22,335) |
Exchange differences | 1,041,083 | 133,490 |
Discontinued operation | ||
Ending balance | 2,372,324 | 1,177,857 |
Deferred Tax Assets | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 3,555,602 | 3,240,498 |
(Charged) / credited to the profit for the year | 570,580 | (36,308) |
Other comprehensive income (loss) | 46,490 | 13,256 |
Exchange differences | 1,041,083 | 130,663 |
Discontinued operation | 27,493 | |
Ending balance | 5,213,755 | 3,555,602 |
Effects on the formation of joint ventures | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (1,135,036) | (1,135,036) |
(Charged) / credited to the profit for the year | ||
Other comprehensive income (loss) | ||
Business combination | ||
Ending balance | (1,135,036) | (1,135,036) |
Intangible assets | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (3,663,085) | (3,725,546) |
(Charged) / credited to the profit for the year | 59,517 | 62,461 |
Other comprehensive income (loss) | ||
Business combination | ||
Ending balance | (3,603,568) | (3,663,085) |
Unrealized gains on derivatives | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (923,672) | (664,841) |
(Charged) / credited to the profit for the year | (1,282,808) | (258,831) |
Other comprehensive income (loss) | 264 | |
Business combination | ||
Ending balance | (2,206,216) | (923,672) |
Leases | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (36,346) | (186,345) |
(Charged) / credited to the profit for the year | 10,667 | 149,999 |
Other comprehensive income (loss) | 220 | |
Business combination | ||
Ending balance | (25,459) | (36,346) |
Fair value adjustment | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 174,597 | 57,298 |
(Charged) / credited to the profit for the year | 351,405 | 117,299 |
Other comprehensive income (loss) | ||
Business combination | ||
Ending balance | 526,002 | 174,597 |
Other | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (248,060) | (276,644) |
(Charged) / credited to the profit for the year | (311,745) | 28,584 |
Other comprehensive income (loss) | (34) | |
Business combination | (530) | |
Ending balance | (560,369) | (248,060) |
Deferred Tax Liabilities | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (5,831,602) | (5,931,114) |
(Charged) / credited to the profit for the year | (1,172,964) | 99,512 |
Other comprehensive income (loss) | 450 | |
Business combination | (530) | |
Ending balance | (7,004,646) | R$ 5831602 |
Total deferred taxes recorded | R$ 1790891 |
Provision for legal proceedin_3
Provision for legal proceedings and judicial deposits - Summary of Provision for Legal Proceedings and Judicial Deposits (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | R$ 1360898 | R$ 1354171 | R$ 1363168 |
Judicial deposit | 875,842 | 943,457 | |
Legal proceedings provision, tax [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 635,406 | 589,180 | 534,131 |
Judicial deposit | 462,197 | 476,706 | |
Civil, environmental and regulatory [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 350,769 | 332,527 | |
Judicial deposit | 140,833 | 220,932 | |
Legal proceedings provision, labor [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 374,723 | 432,464 | R$ 466312 |
Judicial deposit | R$ 272812 | R$ 245819 |
Provision for legal proceedin_4
Provision for legal proceedings and judicial deposits - Summary Changes in Provision for Legal Proceedings (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of other provisions [line items] | |||
Legal proceedings provision beginning balance | R$ 1354171 | R$ 1363168 | |
Provisions | 140,481 | 157,785 | |
Settlement / Write-offs | (222,790) | (294,741) | |
Exchange rate | 109 | ||
Interest | [1] | 88,927 | 127,959 |
Legal proceedings provision ending balance | 1,360,898 | 1,354,171 | |
Legal proceedings provision, tax [member] | |||
Disclosure of other provisions [line items] | |||
Legal proceedings provision beginning balance | 589,180 | 534,131 | |
Provisions | 25,443 | 34,962 | |
Settlement / Write-offs | (11,947) | (28,261) | |
Exchange rate | |||
Interest | [1] | 32,730 | 48,348 |
Legal proceedings provision ending balance | 635,406 | 589,180 | |
Civil, environmental and regulatory [member] | |||
Disclosure of other provisions [line items] | |||
Legal proceedings provision beginning balance | 332,527 | 362,725 | |
Provisions | 46,989 | 39,323 | |
Settlement / Write-offs | (76,772) | (117,449) | |
Exchange rate | |||
Interest | [1] | 48,025 | 47,928 |
Legal proceedings provision ending balance | 350,769 | 332,527 | |
Legal proceedings provision, labor [member] | |||
Disclosure of other provisions [line items] | |||
Legal proceedings provision beginning balance | 432,464 | 466,312 | |
Provisions | 68,049 | 83,500 | |
Settlement / Write-offs | (134,071) | (149,031) | |
Exchange rate | 109 | ||
Interest | [1] | 8,172 | 31,683 |
Legal proceedings provision ending balance | R$ 374723 | R$ 432464 | |
[1] | Includes write-off of interest due to reversals. |
Provision for legal proceedin_5
Provision for legal proceedings and judicial deposits - Summary of Principal Tax Proceedings for Which Risk of Loss is Probable (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | R$ 1360898 | R$ 1354171 | R$ 1363168 | |
Compensation with FINSOCIAL [Member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | [1] | 296,445 | 293,291 | |
INSS - Social security [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | [2] | 97,928 | 95,979 | |
State VAT - ICMS credits [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | [3] | 93,743 | 97,534 | |
IPI - Excise tax credit - NT [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | [4] | 53,697 | 53,693 | |
Federal income taxes [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 9,508 | 1,707 | ||
PIS and COFINS [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 2,304 | 2,889 | ||
Other [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 81,781 | 44,087 | ||
Legal proceedings provision, tax [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 635,406 | 589,180 | R$ 534131 | |
Legal proceedings provision, tax [member] | State VAT - ICMS credits [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | R$ 93407 | R$ 97534 | ||
[1] | The Brazilian federal tax authorities denied applications filed by CLE to set off credits derived from undue payments of FINSOCIAL, a social tax levy, against other federal tax debts. Based on a favorable judicial decision, Mobil acquired the right to set off credits of FINSOCIAL against certain COFINS liabilities. However, a subsequent favorable judicial decision granted CLE immunity against the enforcement of such COFINS-related debts. Therefore, previous set-off applications were canceled, because COFINS liabilities ceased to exist, and CLE sought to use the relevant tax credits to set off other federal tax debts. However, the Brazilian federal tax authorities refused to ratify the set-offs, claiming that the COFINS immunity applied only to the fiscal year during which the lawsuit was filed (i.e., in 1992). No judicial deposits were made for these proceedings. The provision for these proceedings was R$296,400 as of December 31, 2020 and R$293,291 as of December 31, 2019. No judicial deposits were made. | |||
[2] | The amount provisioned for INSS, among other cases, is represented, essentially, by amounts related to social security contributions levied on billing, pursuant to Article -A of the Law No. /, whose constitutionality is being challenged in court. Judicial deposits are made monthly. | |||
[3] | The provisioned amounts relating to tax assessments issued against us by the tax authorities related to several types of ICMS credits, including: (a) an assessment notice related to ICMS payments for raw material purchases which are considered for “use and consumption” and therefore, according to the tax authorities, are not eligible for compensation; (b) an assessment, as sole obligor, for allegedly disregarding withholding obligations of ICMS taxes in relation to a tolling agreement, arising from an agricultural partnership between the Company’s sugarcane plants and Central Paulista Ltda. Açúcar e Álcool; (c) an assessment notice related to ICMS payments related to the exportation of crystallized sugar not considered under tributary immunity; (d) assessment notice related to the ICMS under tributary substitution regime; and (e) ICMS assessment notice related to interstate operations taxed as internal transactions and, therefore, subject to a higher rate. No judicial deposits have been made in connection with these proceedings. These provisions amounted to R$93,407 as of December 31, 2020 and R$97,534 as of December 31, 2019. | |||
[4] | IPI Selectivity proceedings, from November 1992 to December 1995, judged by the STF, using the General Repercussion method (RE No. 592,145, item 080), in the amount of R$39,407, with unfavorable scenario for the Company. |
Provision for legal proceedin_6
Provision for legal proceedings and judicial deposits - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | R$ 1360898 | R$ 1354171 | R$ 1363168 | |
State VAT - ICMS credits [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | [1] | R$ 93743 | 97,534 | |
Non homologation of compensations [member] | ||||
Disclosure of other provisions [line items] | ||||
Federal income taxes isolated fine rate | 50.00% | |||
PIS and COFINS [member] | ||||
Disclosure of other provisions [line items] | ||||
Isolated fine rate of acquired assets | 50.00% | |||
Rumo S.A. [member] | ||||
Disclosure of other provisions [line items] | ||||
Social security contributions | 20.00% | |||
Collective moral damages | R$ 15000 | |||
Legal proceedings provision [member] | ||||
Disclosure of other provisions [line items] | ||||
New provisions, other provisions | 39,407 | |||
Legal proceedings provision, tax [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 635,406 | 589,180 | 534,131 | |
Legal proceedings provision, tax [member] | Compensation with FINSOCIAL [Member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 296,400 | 293,291 | ||
Legal proceedings provision, tax [member] | State VAT - ICMS credits [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 93,407 | 97,534 | ||
Civil, environmental and regulatory [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 350,769 | 332,527 | ||
Judicial deposit | 140,833 | 220,932 | ||
Legal proceedings provision, labor [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 374,723 | 432,464 | R$ 466312 | |
Judicial deposit | R$ 272812 | R$ 245819 | ||
[1] | The provisioned amounts relating to tax assessments issued against us by the tax authorities related to several types of ICMS credits, including: (a) an assessment notice related to ICMS payments for raw material purchases which are considered for “use and consumption” and therefore, according to the tax authorities, are not eligible for compensation; (b) an assessment, as sole obligor, for allegedly disregarding withholding obligations of ICMS taxes in relation to a tolling agreement, arising from an agricultural partnership between the Company’s sugarcane plants and Central Paulista Ltda. Açúcar e Álcool; (c) an assessment notice related to ICMS payments related to the exportation of crystallized sugar not considered under tributary immunity; (d) assessment notice related to the ICMS under tributary substitution regime; and (e) ICMS assessment notice related to interstate operations taxed as internal transactions and, therefore, subject to a higher rate. No judicial deposits have been made in connection with these proceedings. These provisions amounted to R$93,407 as of December 31, 2020 and R$97,534 as of December 31, 2019. |
Provision for legal proceedin_7
Provision for legal proceedings and judicial deposits - Summary of Principal Proceedings for Which Deem Risk of Loss as Possible (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | R$ 19835788 | R$ 17383445 | |
Legal proceedings contingent liability, civil, regulatory and environmental [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 5,476,470 | 5,032,906 | |
Legal proceedings contingent liability, civil, regulatory and environmental [member] | Labor [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 942,352 | 968,426 | |
Legal proceedings contingent liability, civil, regulatory and environmental [member] | Tax [Member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 13,416,966 | 11,382,113 | |
Legal Proceedings Contingent Liability, Tax [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 13,416,966 | 11,382,113 | |
Legal Proceedings Contingent Liability, Tax [member] | Federal income taxes [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [1] | 4,344,963 | 3,619,834 |
Legal Proceedings Contingent Liability, Tax [member] | ICMS - State VAT [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [2] | 3,042,710 | 2,869,089 |
Legal Proceedings Contingent Liability, Tax [member] | PIS and COFINS - Revenue taxes [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [3] | 2,182,933 | 1,529,885 |
Legal Proceedings Contingent Liability, Tax [member] | IRRF - Withholding tax [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [4] | 1,227,555 | 1,030,981 |
Legal Proceedings Contingent Liability, Tax [member] | Penalties related to tax positions [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [5] | 473,690 | 483,577 |
Legal Proceedings Contingent Liability, Tax [member] | IPI - Excise tax credit - NT [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [6] | 455,121 | 451,781 |
Legal Proceedings Contingent Liability, Tax [member] | MP 470 - Tax installments [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [7] | 357,500 | 304,961 |
Legal Proceedings Contingent Liability, Tax [member] | INSS - Social security and other [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [8] | 226,807 | 226,857 |
Legal Proceedings Contingent Liability, Tax [member] | Compensation with IPI - IN 67/98 [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [9] | 183,585 | 181,655 |
Legal Proceedings Contingent Liability, Tax [member] | Goodwill [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [10] | 84,953 | 83,734 |
Legal Proceedings Contingent Liability, Tax [member] | Stock option [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [11] | 63,986 | 70,072 |
Legal Proceedings Contingent Liability, Tax [member] | Foreign financial operation [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | [12] | 29,136 | 28,701 |
Legal Proceedings Contingent Liability, Tax [member] | Financial transactions tax on loan [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 14,886 | 53,765 | |
Legal Proceedings Contingent Liability, Tax [member] | Other [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | R$ 729141 | R$ 447221 | |
[1] | The Company and its subsidiaries have (a) assessment notices related to the disallowance of deductions from the amortization of goodwill expense; (b) The subsidiary Comgás was aware of the non-approval of tax debt offsetting carried out in 2015 and 2016, using credits arising from Corporate Income Taxes (Imposto de Renda Pessoa Jurídica), or “IRPJ,” and Social Contribution on Net Profits (Contribuição Social sobre o Lucro Líquido), or “CSLL.” After administrative discussion, some of the declarations have already been definitively ratified by the Brazil Internal Revenue Service (Receita Federal do Brasil); (c) 50% isolated fine tax assessment notices resulting from non-approval. compensation made through PER/DCOMP; and (d) questioning the limitations included in article 74, IX, of Law No. 9,430/96, by article 6 of Law No. 13,670/2018, which restricted the right of companies to proceed with the settlement of the monthly anticipations of IRPJ and CSLL calculated by estimate, through compensation. | ||
[2] | The legal claims related to the ICMS essentially involve: (a) The part related to the fine required in the infraction notices issued for alleged failure to pay ICMS and non-compliance with ancillary obligations, in an agricultural partnership and industrialization operation by order; (b) ICMS levied on exits of crystallized sugar destined for export, benefited by the Tax Immunity, which, in the view of farmers, such a product would be classified as semi-finished goods; (c) tax assessment notices related to the collection of the ICMS rate differential resulting from sales and / or purchases of goods that, after the operations, had their state registrations revoked; (d) ICMS requirement resulting from disallowance of diesel oil credits used in the agro-industrial production process; (e) ICMS requirement arising from alleged inventory differences; (f) ICMS requirement resulting from tax substitution and tax war and (g) payment of FEEF - State Tax Balance Fund (deposit of 10% of the ICMS amount exempted by the use of tax benefits) on the industrialization and commercialization operations of lubricating oil, considering that the constitutional immunity provided for in art. 155, § 2, X, “b” of CF / 88 cannot be considered as a tax benefit under the terms of Law No. 7,248 / 2016, regulated by State Decree No. 45,810/2016. Judicial deposits made monthly; (h) requirement of complementary ICMS, as a tax substitute, referring to the amounts received as (i) territorial concession, (ii) provision of administration services and optimization of delivery logistics to the customer and (iii) reimbursement of expenses with logistics procedures. | ||
[3] | The possible legal claims related to PIS and COFINS are substantially related to the disallowance of PIS and COFINS credits by the non-cumulative system, provided for in Laws No. 10,637/2002 and 10,833/2003. | ||
[4] | The subsidiary CLE had an assessment notice drawn up for the collection of income tax withheld at source, as a tax officer, due to an alleged capital gain resulting from the acquisition of assets from companies located abroad. | ||
[5] | The Company was assessed due to the disregard of the tax benefits of REPORTO (PIS and COFINS suspension), on the grounds that the locomotives and freight cars purchased in 2010 were used outside the limits area of the port. Therefore, the Company was assessed to pay PIS and COFINS, as well as an isolated fine corresponding to 50% of the value of acquired assets. | ||
[6] | Tax claims filed by the Brazilian federal government regarding the tax on industrialized products (Imposto sobre produtos industrializados), or “IPI,” mainly related to: (i) allegedly due as a result of the removal of certain types of sugar from 1995 to 1997 and from 1992 to 1997. Three of the lawsuits are pending judgment by the lower court, while two of the lawsuits are pending judgment of the appeal filed by the attorney general against the lower court decision rendered in favor of the Company. In addition, to these tax claims, the Company is also a party to other proceedings regarding the IPI imposed on sugar products of certain polarity levels (sugar products with a polarity level of at least 99.5º are exempt from IPI); and (ii) CLE has a requirement of IPI at restricting its constitutional immunity from oil lubricant derived. | ||
[7] | Brazilian federal tax authorities have partially rejected the Company’s application for payment of federal tax debts with carryforward losses, pursuant to the payment plan provided for by provisional measure No. 470/2009. The Brazilian federal tax authorities’ notice in this respect stated that Company’s carryforward losses are not sufficient to offset the relevant debts. | ||
[8] | The legal proceeding related to INSS payment involve the following: (a) the legality and constitutionality questioning Normative Instruction MPS/SRP Nº 03/2005, which restricted the constitutional immunity over social contributions on export revenues through direct sales, consistent with the manner exports made via trading companies are now taxed; (b) assessment of National Rural Apprenticeship Service (Serviço Nacional de Aprendizagem Rural), or “SENAR,” social contribution on direct and indirect exports, in which the tax authorities disregard the right to constitutional immunity and (c) requirement of social security contribution on stock purchase through stock option plans. | ||
[9] | The lawsuits related to the IPI essentially involve: (a) Tax requirement on sugar sales subject to zero rate, due to their polarization degree greater than 99.5º or without IPI, under the terms of the Normative Instruction 67/98 and (b) in the subsidiary CLE tax requirement, on the output of lubricating grease, of a product immune to the collection of IPI, as it is derived from oil. | ||
[10] | Tax assessment issued by the Brazilian Tax Authority in 2011, 2013 and 2019 against Rumo S.A. concerning: (a) amortization expense disallowance based on future profitability, as well as financial expenses; (b) non-taxation of supposed capital gain on disposal of equity interest in a Company of the same group and (c) supposed capital gain on disposal of equity interest in a Company of the same group in 2019. Contingency adjusted due to the partial success of administrative proceeding. | ||
[11] | Tax assessments issued against the Rumo S.A. for the collection of social security contributions (20% on the amount paid) of amounts related to the stock option plan granted to employees, managers and third parties. The main reason for the assessment is the alleged remunerative nature. | ||
[12] | Tax assessment notices issued to require additional income tax, social contribution, PIS and COFINS, for the calendar years 2005 to 2008 as a result of the following alleged violations: (a) improper deduction from taxable income and CSLL calculation basis of financial costs arising from loans with foreign financial institutions, (b) improper exclusion from taxable income and CSLL calculation basis of financial income from securities issued by the Government of Austria and the Government of Spain, (c) no inclusion, in the income tax and CSLL calculation basis, of gains earned in swap operations, and the absence of taxation of financial income resulting from these contracts by PIS and COFINS, (d) improper exclusion from taxable income and the CSLL calculation basis, using PIS and COFINS credits, and (e) improper exclusion from taxable income and CSLL calculation using deferred CSLL. A reduction in tax assessment resulted from a favorable by Board of Tax Appeals (Conselho Administrativo de Recursos Fiscais), or “CARF,” judgment that involved the cancellation of most tax requirements. |
Provision for legal proceedin_8
Provision for legal proceedings and judicial deposits - Contingent assets - Additional Information (Detail) - Legal proceedings contingent assets [member] - Comgas [member] - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 06, 2019 |
Contingent assets | ||
Contingent asset recognized for tax contingencies | R$ 932000 | |
Indemnity proceeding due to the economic and financial imbalance of the Concession Agreement | R$ 658096 | |
ARSESP 933 Resolution [Member] | ||
Contingent assets | ||
Indemnity proceeding due to the economic and financial imbalance of the Concession Agreement | R$ 683358 |
Shareholders Equity - Summary o
Shareholders Equity - Summary of Share Capital (Detail) | 12 Months Ended |
Dec. 31, 2020shares | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 100.00% |
Total of shares | 238,447,578 |
Free float [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 43.02% |
Total of shares | 102,567,060 |
Controlling Group [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 54.50% |
Total of shares | 129,957,424 |
Renaissance Technologies LLC [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 2.48% |
Total of shares | 5,923,094 |
Class A [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 100.00% |
Total of shares | 142,115,534 |
Class A [member] | Free float [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 72.17% |
Total of shares | 102,567,060 |
Class A [member] | Controlling Group [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 23.66% |
Total of shares | 33,625,380 |
Class A [member] | Renaissance Technologies LLC [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 4.17% |
Total of shares | 5,923,094 |
Class B1 shares [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 100.00% |
Total of shares | 96,332,044 |
Class B1 shares [member] | Free float [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 0.00% |
Total of shares | |
Class B1 shares [member] | Controlling Group [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 100.00% |
Total of shares | 96,332,044 |
Class B1 shares [member] | Renaissance Technologies LLC [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 0.00% |
Total of shares |
Shareholders Equity - Additiona
Shareholders Equity - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 17, 2020 | |
Disclosure of classes of share capital [line items] | ||
Dividends declared to shareholders | R$ 1402899 | |
Treasury shares [member] | ||
Disclosure of classes of share capital [line items] | ||
Number of shares issued to employees for share-based compensation plans | 3,616,531 | |
Number of shares sold or issued for other than share-based compensation plans | 13,021,744 |
Shareholders' Equity - Summary
Shareholders' Equity - Summary of Other Comprehensive (Loss) Income (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | R$ 16240481 | R$ 17969356 | R$ 17059413 |
Comprehensive (loss) income | (605,401) | (310,218) | (208,756) |
Ending balance | 20,818,867 | 16,240,481 | 17,969,356 |
Loss on cash flow hedge [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (790,403) | (533,917) | |
Comprehensive (loss) income | (526,099) | (256,486) | |
Ending balance | (1,316,502) | (790,403) | (533,917) |
Foreign currency translation differences [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 49,281 | 21,493 | |
Comprehensive (loss) income | (42,767) | 27,788 | |
Ending balance | 6,514 | 49,281 | 21,493 |
Actuarial loss on defined benefit plan [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (180,958) | (99,246) | |
Comprehensive (loss) income | (36,813) | (81,712) | |
Ending balance | (217,771) | (180,958) | (99,246) |
Gain on measurement of derivative financial instrument [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 15,000 | 15,000 | |
Comprehensive (loss) income | |||
Ending balance | 15,000 | 15,000 | 15,000 |
Change in fair value of financial assets [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 1,277 | 1,085 | |
Comprehensive (loss) income | 278 | 192 | |
Ending balance | 1,555 | 1,277 | 1,085 |
Total [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (905,803) | (595,585) | |
Comprehensive (loss) income | (605,401) | (310,218) | |
Ending balance | (1,511,204) | (905,803) | (595,585) |
Attributable to Owners of the Company [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (805,471) | (587,173) | (394,212) |
Comprehensive (loss) income | (718,556) | (218,298) | |
Ending balance | (1,524,027) | (805,471) | (587,173) |
Attributable to Non-controlling interests [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (100,332) | (8,412) | |
Comprehensive (loss) income | 113,155 | (91,920) | |
Ending balance | R$ 12823 | R$ 100332 | R$ 8412 |
Earnings per Share - Summary of
Earnings per Share - Summary of Calculation of Earnings per Share (Detail) - BRL (R$) R$ / shares in Units, shares in Thousands, R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings per share [abstract] | |||
Profit attributable to the holders of the Company’s common shares used in the calculation of basic earnings per share | R$ 859482 | R$ 1316341 | R$ 975448 |
Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating basic earnings per share | 859,482 | 1,305,320 | 1,003,678 |
Dilutive effect of the share-based plan of subsidiaries | (5,739) | (5,714) | (2,882) |
Profit attributable to the holders of the Company’s common shares used in the calculation of diluted earnings per share | 853,743 | 1,310,627 | 972,566 |
Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating diluted earnings per share | R$ 853743 | R$ 1299606 | R$ 1000796 |
Basic weighted-average number of shares outstanding | 223,630 | 227,560 | 244,065 |
Dilutive effect of stock option plan weighted-average number of shares outstanding | 6,741 | 8,530 | 10,061 |
Diluted weighted-average number of shares outstanding | 230,371 | 236,090 | 254,126 |
Basic earnings per share | R$ 3.8433 | R$ 5.7850 | R$ 3.9970 |
Diluted earnings per share | 3.7059 | 5.5510 | 4.1120 |
Basic earnings per share from continuing operations | 3.8433 | 5.7360 | 3.8270 |
Diluted earnings per share from continuing operations | R$ 3.7059 | R$ 5.5050 | R$ 3.9500 |
Net sales - Analysis of Revenue
Net sales - Analysis of Revenue from Continuing Operations (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |||
Gross revenue from sales of products and services | R$ 24040536 | R$ 23703245 | R$ 19609252 |
Construction revenue | 885,630 | 813,341 | 415,753 |
Indirect taxes and deductions | (4,488,331) | (3,905,177) | (3,190,237) |
Net sales | R$ 20437835 | R$ 20611409 | R$ 16834768 |
Net sales - Revenue Disaggregat
Net sales - Revenue Disaggregated by Products and Service Lines and Timing of Revenue Recognition (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | R$ 20437835 | R$ 20611409 | R$ 16834768 |
Elimination [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | (37,888) | (36,971) | (40,127) |
Goods or services transferred at point in time [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 12,492,063 | 12,617,407 | 9,838,794 |
Goods or services transferred at point in time [member] | Natural gas distribution [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 7,372,957 | 8,636,221 | 6,363,617 |
Goods or services transferred at point in time [member] | Electricity trading [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 775,479 | ||
Goods or services transferred at point in time [member] | Lubricants and basic oil [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 4,283,704 | 3,916,504 | 3,414,536 |
Goods or services transferred at point in time [member] | Other [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 59,923 | 64,682 | 60,641 |
Goods or services transferred over time [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 7,983,660 | 8,030,973 | 7,036,101 |
Goods or services transferred over time [member] | Railroad transportation services [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 6,680,307 | 6,548,109 | 5,715,450 |
Goods or services transferred over time [member] | Port elevation [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 285,852 | 351,563 | 303,800 |
Goods or services transferred over time [member] | Construction revenue [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 885,630 | 813,341 | 415,753 |
Goods or services transferred over time [member] | Services rendered [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | R$ 131871 | R$ 317960 | R$ 601098 |
Costs and Expenses by Nature -
Costs and Expenses by Nature - Summary of Expenses by Nature/Purpose (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure Of Expense By Nature [abstract] | ||||
Commodity cost (natural gas)(i) | [1] | R$ 3867044 | R$ 4885497 | R$ 3767874 |
Raw materials | (3,289,845) | (3,231,169) | (2,754,546) | |
Personnel expenses | (2,533,429) | (2,244,252) | (1,998,898) | |
Depreciation and amortization | (2,340,854) | (2,287,877) | (2,051,824) | |
Railroad transportation and port elevation expenses | (1,897,975) | (1,867,196) | (1,695,600) | |
Electricity purchased for resale | (927,913) | |||
Construction cost | (885,630) | (813,341) | (415,753) | |
Natural gas transportation cost | (753,603) | (703,500) | (718,088) | |
Leases expenses | (59,693) | (48,182) | (14,157) | |
Selling expenses | (23,387) | (26,168) | (30,139) | |
Leases and concessions expenses | (212,081) | |||
Other | (672,176) | (411,979) | (444,119) | |
Total expenses by nature | (17,251,549) | (16,519,161) | (14,103,079) | |
Cost of sales | (14,501,725) | (14,160,233) | (12,108,305) | |
Selling expenses | (959,146) | (1,122,866) | (1,019,234) | |
General and administrative expenses | (1,790,678) | (1,236,062) | (975,540) | |
Total cost and expenses | (17,251,549) | R$ 16519161 | R$ 14103079 | |
Cost of natural gas and electricity purchased arising from recognition of sector financial asset and liability | R$ 201346 | |||
[1] | Includes the amount of R$201,346 arising from the recognition of sector financial asset and liability. |
Other income (expenses), net -
Other income (expenses), net - Summary of Details of Other income (expenses), net (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Analysis of income and expense [abstract] | ||||
Settlement of disputes in the renewal process | [1] | R$ 278496 | ||
Tax credits | 132,399 | 165,398 | 199,027 | |
Gain (loss) on disposal of non-current assets and intangibles | 30,610 | (35,274) | (956) | |
Reimbursement of natural gas loss in the process | [2] | 26,945 | ||
Gain on compensation claims | 50,284 | |||
Indemnity | 726,000 | |||
Net effect of legal proceedings | (32,704) | (105,153) | (115,383) | |
Depreciation of right-of-use | (100,593) | (40,545) | ||
Disposal of credit rights | [3] | (68,311) | 410,000 | |
Loss on impairment (Note 12.2) | (143,984) | (72,448) | ||
Other | 54,011 | (40,024) | 11,042 | |
Other (expense) income, net | R$ 176869 | R$ 404686 | R$ 747282 | |
[1] | R$ 348,319 with a positive effect related to the reversal of lease liabilities in litigation registered in May (Note 14); and R$ 69,823 of negative effect recorded in January due to administrative and judicial disputes involving the Granting Authority and Rumo Malha Paulista, whose discussion the Company gave up as a prerequisite for the conclusion of the process of early renewal of the concession, one of the requirements imposed by TCU. | |||
[2] | Reimbursement of expenses on regulatory losses pursuant to ARSESP Resolution No. 977. | |||
[3] | On September 19, 2019, Cosan S.A. entered into a definitive agreement with Jus Capital Gestão de Recursos Ltda. for the purchase and sale of credit rights arising from severance claims filed against the Brazilian federal government, which was required to pay compensation for material damages resulting from the fixing of sugar and alcohol prices below their cost of production. The total amount involved amounts to R$410,000 plus additional payments applicable to 95% of the difference between the net amount received in connection with Brazilian federal government credit rights for assignment, net of return of assignees on a basis of R$410,000, resulting from (i) indemnity claims, applied to the condemnation of the Brazilian federal government due to the fixing of prices of sugar and alcohol below their cost of production; and (ii) additional payments related to the assignment of credit rights executed on December 21, 2017 and the application of 95% of the net difference received by the Brazilian federal government credit rights for assignment, net of return of assignees. |
Other income (expenses), net _2
Other income (expenses), net - Summary of Details of Other income (expenses), net (Parenthetical) (Detail) - BRL (R$) R$ in Thousands | Sep. 19, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Other Operating Income And Expense Net [line items] | ||||
Positive effect related to the reversal of lease liabilities in litigation registered | R$ 726000 | |||
Recognized Gain Loss On Assignment Of Credit Rights | R$ 410000 | |||
Additional Payment Percentage Of Credit Rights | 95.00% | |||
Negative effect recorded due to administrative and judicial disputes involving the Granting Authority and Rumo Malha Paulista | 69,823 | |||
Indemnifications [member] | ||||
Other Operating Income And Expense Net [line items] | ||||
Positive effect related to the reversal of lease liabilities in litigation registered | R$ 348319 |
Finance Results - Summary of Fi
Finance Results - Summary of Finance Results (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Financial results [abstract] | |||
Interest on debt | R$ 2148322 | R$ 1626911 | R$ 1595140 |
Monetary and exchange rate variation | (3,253,446) | (438,430) | (1,488,293) |
Derivatives and fair value measurement | 3,918,848 | 764,816 | 1,530,494 |
Amortization of borrowing costs | (58,732) | (56,397) | (54,007) |
Guarantees and warranties | 56,079 | 65,207 | 107,692 |
Cost of gross debt | (1,597,731) | (1,422,129) | (1,714,638) |
Income from financial investment | 369,690 | 407,701 | 437,583 |
Total Income from financial investment and exchange rate in cash and cash equivalents | 369,690 | 407,701 | 437,583 |
Cost of debt, net | (1,228,041) | (1,014,428) | (1,277,055) |
Interest on other receivables | 201,060 | 435,498 | 460,886 |
Interest on other payables | (16,293) | (302,620) | (87,499) |
Interest on leases and concessions agreements | (37,657) | (190,272) | (186,259) |
Interest on leases payable | (557,825) | (368,968) | (105,085) |
Advances on real state credits | (5,091) | ||
Interest on shareholders' equity | (4,959) | (18,726) | (13,011) |
Interest on contingencies and contracts | (234,368) | (222,617) | (227,825) |
Bank charges and other | (75,408) | (196,230) | (94,505) |
Foreign exchange, net | (30,505) | (89,260) | (62,978) |
Other charges and monetary variations net | (755,955) | (953,195) | (321,367) |
Finance results, net | (1,983,996) | (1,967,623) | (1,598,422) |
Finance expense | (4,727,561) | (3,690,578) | (2,836,763) |
Finance income | 407,710 | 974,604 | 1,032,158 |
Foreign exchange, net | (3,258,656) | (526,946) | (1,552,366) |
Derivatives | 5,594,511 | 1,275,297 | 1,758,549 |
Finance results, net | R$ 1983996 | R$ 1967623 | R$ 1598422 |
Post-employment Benefits - Summ
Post-employment Benefits - Summary of Post-employment Benefits (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Health Plan | ||
Post-employment benefits | R$ 728734 | R$ 705003 |
Health Plan | ||
Health Plan | ||
Post-employment benefits | 564,576 | 630,549 |
Futura II [member] | Defined contribution [member] | ||
Health Plan | ||
Post-employment benefits | 186 | 361 |
Futura [member] | Defined benefit [member] | ||
Health Plan | ||
Post-employment benefits | R$ 163972 | R$ 74093 |
Post-employment Benefits - Addi
Post-employment Benefits - Additional Information (Detail) - BRL (R$) R$ in Thousands | 5 Months Ended | 12 Months Ended | ||
May 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Health Plan | ||||
Sponsor contribution to defined contribution plans | R$ 214 | R$ 215 | R$ 459 | |
Change in methods for preparing the sensitivity analysis | There was no change in relation to previous years in the methods and assumptions used in preparing the sensitivity analysis. | |||
Health Plan | ||||
Health Plan | ||||
Expected duration of contribution to Social Security (Instituto Nacional do Seguro Social), or "INSS" for entitled to defined benefit plan | 20 years | |||
Expected uninterrupted service duration for entitled to defined benefit plan | 15 years | |||
Health plan [member] | ||||
Health Plan | ||||
Sponsor contribution to defined contribution plans | R$ 24690 | R$ 30151 | ||
Weighted average duration of defined benefit obligation | 14 years 10 months 24 days | 16 years 6 months | ||
Defined benefit [member] | CLE [member] | ||||
Health Plan | ||||
Sponsor contribution to defined contribution plans | R$ 7044 | R$ 4349 | ||
Weighted average duration of defined benefit obligation | 10 years 2 months 12 days | |||
Defined benefit [member] | CLE [member] | Defined benefit obligation [member] | ||||
Health Plan | ||||
Sponsor contribution to defined contribution plans | R$ 4700 |
Post-employment Benefits - Su_2
Post-employment Benefits - Summary of Defined Benefit Obligation and Fair Value of Plan Assets (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of net defined benefit liability (asset) [line items] | |||
Current service cost | R$ 540 | R$ 480 | |
Interest on actuarial obligation | 45,567 | 45,601 | |
Actuarial (gain) loss arising from financial assumptions | 58,250 | (211,030) | |
Actuarial loss (gain) arising from experience adjustment | (30,267) | 1,216 | |
Employer contributions | (214) | (215) | R$ 459 |
Actuarial (loss) gain arising from experience adjustment | (14) | ||
Net defined benefit liability | 728,548 | 704,642 | |
Present value of defined benefit obligation [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Beginning balance | 1,249,630 | 1,012,792 | |
Current service cost | 540 | 480 | |
Interest on actuarial obligation | 89,253 | 91,849 | |
Actuarial (gain) loss arising from financial assumptions | (58,250) | 211,030 | |
Actuarial loss (gain) arising from experience adjustment | 30,267 | (1,216) | |
Actuarial (loss) gain arising from experience adjustment | 14 | ||
Benefit payments | (62,298) | (65,305) | |
Ending balance | 1,249,156 | 1,249,630 | 1,012,792 |
Plan assets [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Beginning balance | (544,988) | (433,174) | |
Interest on actuarial obligation | (38,452) | (39,299) | |
Return on investments in the year (excluding interest income) | 34,370 | (105,417) | |
Employer contributions | (33,836) | (32,403) | |
Benefit payments | 62,298 | 65,305 | |
Ending balance | R$ 520608 | R$ 544988 | R$ 433174 |
Post-employment Benefits - Su_3
Post-employment Benefits - Summary of Expense Recognized in Profit or Loss (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of net defined benefit liability (asset) [abstract] | ||
Current service cost | R$ 540 | R$ 480 |
Interest on actuarial obligation | (45,567) | (45,601) |
Total expense recognized in profit or loss | R$ 46107 | R$ 46081 |
Post-employment Benefits - Su_4
Post-employment Benefits - Summary of Amount Recognised as Accumulated Other Comprehensive Income (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of net defined benefit liability (asset) [abstract] | ||
Accumulated at the beginning of the year | R$ 66305 | R$ 170702 |
Actuarial (gain) loss arising from financial assumptions | 58,250 | (211,030) |
Actuarial loss (gain) arising from experience adjustment | (30,267) | 1,216 |
Actuarial loss arising from demographic assumptions | (14) | |
Return on investments in the year (excluding interest income) | (34,370) | 105,417 |
Accumulated at the end of the year | R$ 59904 | R$ 66305 |
Post-employment Benefits - Su_5
Post-employment Benefits - Summary of Plan Assets (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of fair value of plan assets [line items] | ||
Plan assets at fair value | R$ 513650 | R$ 540888 |
Percentage fair value of plan assets | 100.00% | 100.00% |
Fixed income bonds [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets at fair value | R$ 513470 | R$ 540804 |
Percentage fair value of plan assets | 99.96% | 99.98% |
Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets at fair value | R$ 180 | R$ 84 |
Percentage fair value of plan assets | 0.04% | 0.02% |
Post-employment Benefits - Su_6
Post-employment Benefits - Summary of Assumptions to Determine Defined Benefit Obligations (Detail) | Dec. 31, 2020 | Dec. 31, 2019 |
Defined benefit [member] | Defined benefit [member] | ||
Health Plan | ||
Discount rate (per year) | 7.20% | 7.28% |
Inflation rate (per year) | 3.00% | 3.70% |
Increase in pension plans (per year) | 3.00% | 3.70% |
Health plan [member] | Health Plan | ||
Health Plan | ||
Discount rate (per year) | 7.43% | 7.43% |
Inflation rate (per year) | 3.50% | 3.70% |
Future salary increases | 6.60% | 6.81% |
Increase in pension plans (per year) | 6.60% | 6.81% |
Post-employment Benefits - Su_7
Post-employment Benefits - Summary of Changes in Discount Rate (Detail) R$ in Thousands | Dec. 31, 2020BRL (R$) |
Defined benefit [member] | Defined benefit [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Discount rate, increase | R$ 31358 |
Discount rate, decrease | 34,201 |
Health plan [member] | Health Plan | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Discount rate, increase | (35,907) |
Discount rate, decrease | R$ 40575 |
Post-employment Benefits - Su_8
Post-employment Benefits - Summary of Changes in Discount Rate (Parenthetical) (Detail) | Dec. 31, 2020 |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
Percentage increase in discount rate | 0.50% |
Percentage decrease in discount rate | (0.50%) |
Share-based Payment - Summary o
Share-based Payment - Summary of Share-based Payment Arrangements (Detail) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 2,883,559 | 1,090,536 | |
Number Of Outstanding Share options | 8,046,757 | 7,302,929 | 10,667,826 |
Cash Settled Transactions [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 19,694,790 | ||
Exercised /canceled /transferred | (11,648,033) | ||
Number Of Outstanding Share options | 8,046,757 | ||
Cosan S.A. [member] | Stock grant programs [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 857,207 | ||
Exercised /canceled /transferred | (192,130) | ||
Number Of Outstanding Share options | 665,077 | ||
Cosan S.A. [member] | Stock grant programs [member] | April 27, 2017 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | April 27, 2017 | ||
Company | Cosan S.A. | ||
Expected life (years) | 5 years | ||
Number of share options granted | 274,000 | ||
Exercised /canceled /transferred | (84,000) | ||
Number Of Outstanding Share options | 190,000 | ||
Cosan S.A. [member] | Stock grant programs [member] | July 31, 2017 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | July 31, 2017 | ||
Company | Cosan S.A. | ||
Expected life (years) | 5 years | ||
Number of share options granted | 298,107 | ||
Exercised /canceled /transferred | (90,262) | ||
Number Of Outstanding Share options | 207,845 | ||
Cosan S.A. [member] | Stock grant programs [member] | July 31, 2018 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | July 31, 2018 | ||
Company | Cosan S.A. | ||
Expected life (years) | 5 years | ||
Number of share options granted | 210,602 | ||
Exercised /canceled /transferred | (17,868) | ||
Number Of Outstanding Share options | 192,734 | ||
Cosan S.A. [member] | Stock grant programs [member] | July 31, 2019 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | July 31, 2019 | ||
Company | Cosan S.A. | ||
Expected life (years) | 5 years | ||
Number of share options granted | 57,255 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 57,255 | ||
Cosan S.A. [member] | Stock grant programs [member] | July 31, 2020 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | July 31, 2020 | ||
Company | Cosan S.A. | ||
Expected life (years) | 5 years | ||
Number of share options granted | 17,243 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 17,243 | ||
Cosan S.A. [member] | Stock Grant Modification [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 2,396,110 | ||
Exercised /canceled /transferred | (2,160,376) | ||
Number Of Outstanding Share options | 235,734 | ||
Cosan S.A. [member] | Stock Grant Modification [member] | August 18, 2011 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | August 18, 2011 | ||
Company | Cosan S.A. | ||
Number of share options granted | 1,501,626 | ||
Exercised /canceled /transferred | (1,276,283) | ||
Number Of Outstanding Share options | 225,343 | ||
Cosan S.A. [member] | Stock Grant Modification [member] | December 12, 2012 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | December 12, 2012 | ||
Company | Cosan S.A. | ||
Number of share options granted | 24,647 | ||
Exercised /canceled /transferred | (24,647) | ||
Number Of Outstanding Share options | |||
Cosan S.A. [member] | Stock Grant Modification [member] | April 24, 2013 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | April 24, 2013 | ||
Company | Cosan S.A. | ||
Number of share options granted | 122,123 | ||
Exercised /canceled /transferred | (122,123) | ||
Number Of Outstanding Share options | |||
Cosan S.A. [member] | Stock Grant Modification [member] | April 25, 2014 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | April 25, 2014 | ||
Company | Cosan S.A. | ||
Number of share options granted | 283,808 | ||
Exercised /canceled /transferred | (283,808) | ||
Number Of Outstanding Share options | |||
Cosan S.A. [member] | Stock Grant Modification [member] | August 31, 2015 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | August 31, 2015 | ||
Company | Cosan S.A. | ||
Number of share options granted | 463,906 | ||
Exercised /canceled /transferred | (453,515) | ||
Number Of Outstanding Share options | 10,391 | ||
Comgas [member] | Stock grant programs [member] | July 31, 2019 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | July 31, 2019 | ||
Company | Comgás | ||
Expected life (years) | 5 years | ||
Number of share options granted | 83,683 | ||
Exercised /canceled /transferred | (3,997) | ||
Number Of Outstanding Share options | 79,686 | ||
Comgas [member] | Stock grant programs [member] | April 20, 2017 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | April 20, 2017 | ||
Company | Comgás | ||
Expected life (years) | 5 years | ||
Number of share options granted | 61,300 | ||
Exercised /canceled /transferred | (14,405) | ||
Number Of Outstanding Share options | 46,895 | ||
Comgas [member] | Stock grant programs [member] | August 12, 2017 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | August 12, 2017 | ||
Company | Comgás | ||
Expected life (years) | 5 years | ||
Number of share options granted | 97,780 | ||
Exercised /canceled /transferred | (13,616) | ||
Number Of Outstanding Share options | 84,164 | ||
Comgas [member] | Stock grant programs [member] | August 1, 2018 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | August 1, 2018 | ||
Company | Comgás | ||
Expected life (years) | 5 years | ||
Number of share options granted | 96,787 | ||
Exercised /canceled /transferred | (5,338) | ||
Number Of Outstanding Share options | 91,449 | ||
Compass Gas E Energia S A [Member] | Stock grant programs [member] | February 01, 2020 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | February 01, 2020 | ||
Company | Compass Gás e Energia | ||
Expected life (years) | 5 years | ||
Number of share options granted | 1,858,969 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 1,858,969 | ||
Comgas and Compass Gas e Energia [member] | Stock grant programs [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 2,198,519 | ||
Exercised /canceled /transferred | (37,356) | ||
Number Of Outstanding Share options | 2,161,163 | ||
Rumo S.A. [member] | Stock grant programs [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 6,601,638 | ||
Exercised /canceled /transferred | (2,068,877) | ||
Number Of Outstanding Share options | 4,745,161 | ||
Rumo S.A. [member] | Stock grant programs [member] | August 1, 2018 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | August 1, 2018 | ||
Company | Rumo | ||
Expected life (years) | 5 years | ||
Number of share options granted | 1,149,544 | ||
Exercised /canceled /transferred | (173,453) | ||
Number Of Outstanding Share options | 976,091 | ||
Rumo S.A. [member] | Stock grant programs [member] | October 1, 2015 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | October 1, 2015 | ||
Company | Rumo | ||
Expected life (years) | 5 years | ||
Number of share options granted | 1,485,900 | ||
Exercised /canceled /transferred | (1,485,900) | ||
Number Of Outstanding Share options | |||
Rumo S.A. [member] | Stock grant programs [member] | January 2, 2017 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | January 2, 2017 | ||
Company | Rumo | ||
Expected life (years) | 5 years | ||
Number of share options granted | 1,476,000 | ||
Exercised /canceled /transferred | (23,600) | ||
Number Of Outstanding Share options | 1,452,400 | ||
Rumo S.A. [member] | Stock grant programs [member] | September 1, 2017 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | September 1, 2017 | ||
Company | Rumo | ||
Expected life (years) | 5 years | ||
Number of share options granted | 870,900 | ||
Exercised /canceled /transferred | (144,450) | ||
Number Of Outstanding Share options | 726,450 | ||
Rumo S.A. [member] | Stock grant programs [member] | August 15, 2019 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | August 15, 2019 | ||
Company | Rumo | ||
Expected life (years) | 5 years | ||
Number of share options granted | 843,152 | ||
Exercised /canceled /transferred | (29,074) | ||
Number Of Outstanding Share options | 814,078 | ||
Rumo S.A. [member] | Stock grant programs [member] | August 15, 2019, Two [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | August 15, 2019 | ||
Company | Rumo | ||
Expected life (years) | 5 years | ||
Number of share options granted | 776,142 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 776,142 | ||
Cosan Limited [member] | Stock grant programs [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 7,146,694 | ||
Exercised /canceled /transferred | (7,146,694) | ||
Number Of Outstanding Share options | |||
Cosan Limited [member] | Stock grant programs [member] | August 18, 2017 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | August 18, 2017 | ||
Company | Cosan Limited | ||
Expected life (years) | 5 years | ||
Number of share options granted | 7,146,694 | ||
Exercised /canceled /transferred | (7,146,694) | ||
Number Of Outstanding Share options | |||
Cosan Limited [member] | Cash Settled Transactions [Member] | July 31, 2019 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | July 31, 2019 | ||
Company | Cosan Limited | ||
Expected life (years) | 5 years | ||
Number of share options granted | 255,000 | ||
Exercised /canceled /transferred | (255,000) | ||
Number Of Outstanding Share options | |||
Moove [member] | Cash Settled Transactions [Member] | July 31, 2019 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | July 31, 2019 | ||
Company | Moove | ||
Expected life (years) | 5 years | ||
Number of share options granted | 132,670 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 132,670 | ||
Moove [member] | Cash Settled Transactions [Member] | July 31, 2020 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | July 31, 2020 | ||
Company | Moove | ||
Expected life (years) | 5 years | ||
Number of share options granted | 106,952 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 106,952 | ||
Cosan Limited and Moove [member] | Cash Settled Transactions [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 239,622 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 239,622 | ||
Bottom of range [member] | Cosan S.A. [member] | Stock Grant Modification [member] | August 18, 2011 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected life (years) | 1 year | ||
Bottom of range [member] | Cosan S.A. [member] | Stock Grant Modification [member] | December 12, 2012 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected life (years) | 1 year | ||
Bottom of range [member] | Cosan S.A. [member] | Stock Grant Modification [member] | April 24, 2013 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected life (years) | 5 years | ||
Bottom of range [member] | Cosan S.A. [member] | Stock Grant Modification [member] | April 25, 2014 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected life (years) | 5 years | ||
Bottom of range [member] | Cosan S.A. [member] | Stock Grant Modification [member] | August 31, 2015 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected life (years) | 5 years | ||
Top of range [member] | Cosan S.A. [member] | Stock Grant Modification [member] | August 18, 2011 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected life (years) | 12 years | ||
Top of range [member] | Cosan S.A. [member] | Stock Grant Modification [member] | December 12, 2012 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected life (years) | 7 years | ||
Top of range [member] | Cosan S.A. [member] | Stock Grant Modification [member] | April 24, 2013 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected life (years) | 7 years | ||
Top of range [member] | Cosan S.A. [member] | Stock Grant Modification [member] | April 25, 2014 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected life (years) | 7 years | ||
Top of range [member] | Cosan S.A. [member] | Stock Grant Modification [member] | August 31, 2015 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expected life (years) | 7 years |
Share-based Payment - Summary_2
Share-based Payment - Summary of Weighted Average Fair Value of Programs Granted and Principal Assumptions used in Applying Black-Scholes Model (Detail) - Stock grant programs [member] - BRL (R$) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cosan S.A. Industria e Comercio [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Weighted average fair value at grant date | R$ 50.88 | R$ 50.88 |
Share price at grant date | R$ 83.79 | R$ 50.88 |
Risk-free interest rate | 6.94% | 6.82% |
Volatility factor | 36.50% | 36.50% |
Rumo S.A. [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Weighted average fair value at grant date | R$ 13.12 | R$ 22.17 |
Share price at grant date | R$ 20.01 | R$ 22.17 |
Risk-free interest rate | 6.94% | 6.82% |
Volatility factor | 36.50% | 27.46% |
Comgas [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Weighted average fair value at grant date | R$ 60.07 | R$ 78.58 |
Share price at grant date | R$ 78.58 | |
Risk-free interest rate | 6.94% | 6.82% |
Volatility factor | 32.81% | 32.80% |
Compass Gas e Energia [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Weighted average fair value at grant date | R$ 13.58 | |
Share price at grant date | R$ 13.58 | |
Risk-free interest rate | ||
Volatility factor |
Share-based Payment - Summary_3
Share-based Payment - Summary of Number and Weighted-average Exercise Prices of Share Options (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Stock option programs, Beginning balance | 7,302,929 | 10,667,826 |
Stock option programs, Granted | 2,883,559 | 1,090,536 |
Stock option programs, Vested | (1,942,401) | (963,430) |
Stock option programs, Cancelled | (197,330) | (3,492,003) |
Stock option programs, Ending balance | 8,046,757 | 7,302,929 |
Share-based Payment - Summary_4
Share-based Payment - Summary of Share-based Compensation Expense (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Expense recognized in profit or loss | R$ 293011 | R$ 96212 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) R$ in Thousands | Apr. 30, 2021shares | Feb. 09, 2021BRL (R$) | Feb. 05, 2021shares | Jan. 06, 2021BRL (R$) | Feb. 08, 2021BRL (R$) | Feb. 03, 2021BRL (R$) |
Major borrowings [member] | Promissory Notes [member] | Comgas [member] | ||||||
Subsequent events | ||||||
Repayment of promissory notes | R$ 1125092 | |||||
Major borrowings [member] | Debentures [member] | Unsecured, Non-convertible [member] | Rumo S.A. [member] | ||||||
Subsequent events | ||||||
Issuance of debentures | R$ 1200000 | |||||
Share Buyback Program [member] | Common shares [member] | Maximum [member] | ||||||
Subsequent events | ||||||
Period for shares that can be repurchased | 18 months | |||||
Number of shares that can be repurchased | shares | 10,000,000 | |||||
Major business combination [member] | Raízen [member] | Biosev S.A. [member] | ||||||
Subsequent events | ||||||
Cash transferred | R$ 3600000 | |||||
Major business combination [member] | Raízen [member] | Biosev S.A. [member] | Maximum [member] | ||||||
Subsequent events | ||||||
Percentage of voting equity interests acquired | 100.00% | |||||
Major business combination [member] | Raízen [member] | Preference shares [member] | Biosev S.A. [member] | ||||||
Subsequent events | ||||||
Percentage of share capital to be issued of shares under business combination agreement | 3.50% | |||||
Major business combination [member] | Raízen [member] | Redeemable shares [member] | Biosev S.A. [member] | ||||||
Subsequent events | ||||||
Percentage of share capital to be issued of shares under business combination agreement | 1.49% | |||||
Proposal of Dividends [member] | Compass Gás e Energia S.A. [member] | ||||||
Subsequent events | ||||||
Interim dividends approved for distribution | R$ 200000 | |||||
Ordinary general meeting | Common shares [member] | Cosan S.A. [member] | ||||||
Subsequent events | ||||||
Share split ratio | 0.25 | |||||
Number of shares available for stock split | shares | 468,517,733 | |||||
Number of shares outstanding after stock split | shares | 1,874,070,932 |