Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2021shares | |
Entity Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Entity Registrant Name | COSAN S.A. |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Entity Central Index Key | 0001430162 |
Current Fiscal Year End Date | --12-31 |
Document Period End Date | Dec. 31, 2021 |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 001-40155 |
Entity Incorporation, State or Country Code | D5 |
Entity Address, Address Line One | Av. Brigadeiro Faria Lima, 4,100 – 16th floor |
Entity Address, City or Town | São Paulo |
Entity Address, Postal Zip Code | 04538-132 |
Entity Address, Country | BR |
Entity Common Stock, Shares Outstanding | 1,868,630,160 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Auditor Name | Ernst & Young Auditores Independentes S.S. |
Auditor Firm ID | 1448 |
Auditor Location | São Paulo, Brazil |
Business Contact [Member] | |
Entity Information [Line Items] | |
Contact Personnel Name | Ricardo Lewin |
Entity Address, Address Line One | Av. Brigadeiro Faria Lima, 4,100 – 16th floor |
Entity Address, City or Town | São Paulo |
Entity Address, Postal Zip Code | 04538-132 |
Entity Address, Country | BR |
City Area Code | +55 11 |
Local Phone Number | 3897-9797 |
Common Shares [Member] | |
Entity Information [Line Items] | |
Security Exchange Name | NYSE |
Title of 12(b) Security | Common shares, no par value |
ADR [Member] | |
Entity Information [Line Items] | |
Security Exchange Name | NYSE |
Trading Symbol | CSAN |
Title of 12(b) Security | American depositary shares, each representing four common shares, no par value |
Consolidated statement of finan
Consolidated statement of financial position - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and cash equivalents | R$ 16174130 | R$ 13642918 |
Marketable securities | 4,372,696 | 3,669,109 |
Trade receivables | 2,580,776 | 2,007,140 |
Derivative financial instruments | 194,878 | 587,894 |
Inventories | 1,149,304 | 935,264 |
Receivables from related parties | 98,280 | 680,049 |
Income tax receivable | 442,957 | 316,452 |
Other current tax receivable | 921,472 | 785,367 |
Dividend receivable | 519,965 | 80,755 |
Sector financial assets | 489,601 | 241,749 |
Other financial assets | 466 | 69,126 |
Other current assets | 348,658 | 419,045 |
Total current assets | 27,293,183 | 23,434,868 |
Trade receivables | 165,077 | 26,301 |
Marketable securities | 15,311 | |
Restricted cash | 58,990 | 34,562 |
Deferred tax assets | 3,051,628 | 1,900,241 |
Receivables from related parties | 318,211 | 249,641 |
Income tax receivable | 344,059 | 41,543 |
Other non-current tax receivable | 1,879,695 | 957,671 |
Judicial deposits | 923,061 | 875,842 |
Derivative financial instruments | 4,538,048 | 7,552,806 |
Sector financial assets | 68,709 | |
Other non-current assets | 179,598 | 278,918 |
Other financial assets | 319,727 | |
Investments in associates | 780,067 | 383,851 |
Investments in joint ventures | 10,936,663 | 7,988,208 |
Property, plant and equipment | 16,648,553 | 14,068,506 |
Contract asset | 705,982 | 695,938 |
Right-of-use assets | 7,947,267 | 7,916,230 |
Investment property | 3,886,696 | |
Intangible assets and goodwill | 17,781,498 | 17,308,439 |
Total non-current assets | 70,548,840 | 60,278,697 |
Total assets | 97,842,023 | 83,713,565 |
Liabilities | ||
Loans, borrowings and debentures | 4,241,368 | 4,929,069 |
Leases | 405,820 | 531,410 |
Derivative financial instruments | 925,650 | 321,890 |
Trade payables | 3,253,504 | 2,630,054 |
Employee benefits payables | 552,991 | 336,466 |
Income tax payables | 71,224 | 386,122 |
Other taxes payable | 536,220 | 417,326 |
Dividends payable | 799,634 | 1,413,222 |
Concessions payable | 160,771 | 158,705 |
Payables to related parties | 287,609 | 307,080 |
Sector financial liabilities | 85,866 | 91,912 |
Other financial liabilities | 726,423 | 562,763 |
Other current liabilities | 909,956 | 460,975 |
Total current liabilities | 12,957,036 | 12,546,994 |
Loans, borrowings and debentures | 41,417,669 | 37,320,391 |
Leases | 2,861,858 | 2,470,437 |
Preferred shareholders payable in subsidiaries | 387,044 | |
Derivative financial instruments | 150,511 | 124,171 |
Other taxes payable | 146,889 | 149,018 |
Provision for legal proceedings | 1,644,061 | 1,360,898 |
Concessions payable | 2,893,477 | 2,824,637 |
Other financial liabilities | 31,425 | |
Post-employment benefits | 669,475 | 728,734 |
Deferred tax liabilities | 3,818,056 | 3,691,132 |
Sector financial liabilities | 1,286,417 | 473,999 |
Deferred revenue | 36,440 | 43,000 |
Other non-current liabilities | 1,090,112 | 742,818 |
Total non-current liabilities | 56,014,965 | 50,347,704 |
Total liabilities | 68,972,001 | 62,894,698 |
Shareholders' equity | ||
Share capital | 6,365,853 | 5,328 |
Treasury shares | (69,064) | |
Additional paid-in capital | (1,690,235) | 2,007,356 |
Accumulated other comprehensive loss | (521,609) | (1,524,027) |
Retained earnings | 10,655,992 | 4,771,426 |
Equity attributable to: | ||
Owners of the Company | 14,740,937 | 5,260,083 |
Non-controlling interests | 14,129,085 | 15,558,784 |
Total shareholders' equity | 28,870,022 | 20,818,867 |
Total shareholders' equity and liabilities | R$ 97842023 | R$ 83713565 |
Consolidated statement of profi
Consolidated statement of profit or loss and other comprehensive income - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Consolidated statement of profit or loss and other comprehensive income | |||
Net sales | R$ 25865001 | R$ 20437835 | R$ 20611409 |
Cost of sales | (19,864,248) | (14,999,823) | (14,616,985) |
Gross profit | 6,000,753 | 5,438,012 | 5,994,424 |
Selling expenses | (723,419) | (661,907) | (666,114) |
General and administrative expenses | (1,572,357) | (1,589,819) | (1,236,062) |
Other expenses, net | 382,600 | 176,869 | 404,686 |
Operating expenses | (1,913,176) | (2,074,857) | (1,497,490) |
Profit before equity in earnings of investees, finance results and income taxes | 4,087,577 | 3,363,155 | 4,496,934 |
Interest in earnings of associates | 130,225 | 28,801 | 1,231 |
Interest in earnings of joint ventures | 4,590,631 | 583,001 | 1,131,406 |
Equity in earnings of investees | 4,720,856 | 611,802 | 1,132,637 |
Finance expense | (2,527,506) | (4,727,561) | (3,690,578) |
Finance income | 1,258,441 | 407,710 | 974,604 |
Foreign exchange, net | (1,099,536) | (3,258,656) | (526,946) |
Net effect of derivatives | (188,956) | 5,594,511 | 1,275,297 |
Finance results, net | (2,557,557) | (1,983,996) | (1,967,623) |
Profit before income taxes | 6,250,876 | 1,990,961 | 3,661,948 |
Income taxes | |||
Current | (787,602) | (941,363) | (1,000,057) |
Deferred | 1,233,186 | 438,696 | 220,461 |
Income Taxes | 445,584 | (502,667) | (779,596) |
Profit from continuing operations | 6,696,460 | 1,488,294 | 2,882,352 |
Profit from discontinued operation, net of tax | 11,021 | ||
Profit for the year | 6,696,460 | 1,488,294 | 2,893,373 |
Items that will not be reclassified to profit or loss | |||
Actuarial (gain) loss on defined benefit plan | 63,382 | (55,777) | (117,302) |
Taxes over actuarial (gain) loss on defined benefit plan | (21,550) | 18,964 | 35,590 |
Items that will never be reclassified to profit or loss | 41,832 | (36,813) | (81,712) |
Items that are or may be reclassified subsequently to profit or loss | |||
Foreign currency translation differences | 89,848 | (42,767) | 27,788 |
Loss on cash flow hedge | (601,415) | (526,099) | (256,486) |
Change in fair value of financial assets | 2,269 | 278 | 192 |
Items that are or may be reclassified subsequently to profit or loss | (509,298) | (568,588) | (228,506) |
Total other comprehensive loss, net of tax | (467,466) | (605,401) | (310,218) |
Total comprehensive income for the year | 6,228,994 | 882,893 | 2,583,155 |
Profit attributable to: | |||
Owners of the Company | 6,312,140 | 859,482 | 1,316,341 |
Non-controlling interests | 384,320 | 628,812 | 1,577,032 |
Profit for the year | 6,696,460 | 1,488,294 | 2,893,373 |
Total comprehensive income attributable to: | |||
Owners of the Company | 5,932,760 | 140,926 | 1,098,043 |
Non-controlling interests | 296,234 | 741,967 | 1,485,112 |
Total comprehensive income for the year | R$ 6228994 | R$ 882893 | R$ 2583155 |
Earnings per share | |||
Basic | R$ 3.4407 | R$ 0.4685 | R$ 0.7175 |
Diluted | 3.4291 | 0.4637 | 0.7111 |
Earnings per share from continuing operations | |||
Basic | 3.4407 | 0.4685 | 0.7115 |
Diluted | R$ 3.4291 | R$ 0.4637 | R$ 0.7051 |
Consolidated statement of chang
Consolidated statement of changes in equity - BRL (R$) R$ in Thousands | Total | Adjustment on initial application of IFRS 16 [member] | Opening balance after adjustment, cumulative effect at date of initial application [member] | Share capital [member] | Share capital [member]Opening balance after adjustment, cumulative effect at date of initial application [member] | Treasury shares [member] | Additional paid-in capital [member] | Additional paid-in capital [member]Opening balance after adjustment, cumulative effect at date of initial application [member] | Accumulated other comprehensive income [member] | Accumulated other comprehensive income [member]Opening balance after adjustment, cumulative effect at date of initial application [member] | Retained earnings [member] | Retained earnings [member]Adjustment on initial application of IFRS 16 [member] | Retained earnings [member]Opening balance after adjustment, cumulative effect at date of initial application [member] | Equity attributable to owners of the company [member] | Equity attributable to owners of the company [member]Adjustment on initial application of IFRS 16 [member] | Equity attributable to owners of the company [member]Opening balance after adjustment, cumulative effect at date of initial application [member] | Non-controlling interest [member] | Non-controlling interest [member]Adjustment on initial application of IFRS 16 [member] | Non-controlling interest [member]Opening balance after adjustment, cumulative effect at date of initial application [member] |
Beginning balance at Dec. 31, 2018 | R$ 17969356 | R$ 475391 | R$ 17493965 | R$ 5328 | R$ 5328 | R$ 3112274 | R$ 3112274 | R$ 587173 | R$ 587173 | R$ 4083974 | R$ 97971 | R$ 3986003 | R$ 6614403 | R$ 97971 | R$ 6516432 | R$ 11354953 | R$ 377420 | R$ 10977533 | |
Profit for the year | 2,893,373 | 1,316,341 | 1,316,341 | 1,577,032 | |||||||||||||||
Other comprehensive income | |||||||||||||||||||
Loss on cash flow hedge | (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 interests | (11,650) | (11,650) | 11,650 | ||||||||||||||||
Share options exercised | (13,113) | (11,811) | (11,811) | (1,302) | |||||||||||||||
Dividends | (243,317) | (243,317) | |||||||||||||||||
Treasury shares acquired | (1,141,302) | (1,141,302) | (1,141,302) | ||||||||||||||||
Share-based payment transactions | 42,222 | 42,222 | 42,222 | ||||||||||||||||
Prescribed dividends | 20,751 | 12,499 | 12,499 | 8,252 | |||||||||||||||
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 | |||||||||||||||||||
Loss on cash flow hedge | (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 interests | (1,374) | (15,951) | (15,951) | 14,577 | |||||||||||||||
Share options exercised | 272,692 | 272,692 | 272,692 | ||||||||||||||||
Dividends | (1,514,114) | (1,402,899) | (1,402,899) | (111,215) | |||||||||||||||
Disposal of treasury shares | 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 | 20,818,867 | 5,328 | 2,007,356 | (1,524,027) | 4,771,426 | 5,260,083 | 15,558,784 | ||||||||||||
Profit for the year | 6,696,460 | 6,312,140 | 6,312,140 | 384,320 | |||||||||||||||
Other comprehensive income | |||||||||||||||||||
Loss on cash flow hedge | (601,415) | (437,995) | (437,995) | (163,420) | |||||||||||||||
Foreign currency translation differences | 89,848 | 14,017 | 14,017 | 75,831 | |||||||||||||||
Actuarial loss on defined benefit plan | 41,832 | 41,959 | 41,959 | (127) | |||||||||||||||
Change in fair value of financial assets | 2,269 | 2,639 | 2,639 | (370) | |||||||||||||||
Total comprehensive income for the year | 6,228,994 | (379,380) | 6,312,140 | 5,932,760 | 296,234 | ||||||||||||||
Transactions with owners of the Company Contributions and distributions | |||||||||||||||||||
Capital increase in subsidiary | 2,252,306 | 2,252,306 | |||||||||||||||||
Dividends - non-controlling interests | (2,493) | (2,493) | (2,493) | ||||||||||||||||
Share options exercised | (2,719) | R$ 18136 | (36,708) | (18,572) | 15,853 | ||||||||||||||
Dividends | (2,031,301) | (1,866,393) | (1,866,393) | (164,908) | |||||||||||||||
Business Combination | 2,115,554 | 2,115,554 | |||||||||||||||||
Disposal of treasury shares | 3,650 | 496,741 | 3,825 | (496,916) | 3,650 | ||||||||||||||
Total contributions and distributions | 2,334,997 | 514,877 | (35,376) | (2,363,309) | (1,883,808) | 4,218,805 | |||||||||||||
Changes in ownership interests | |||||||||||||||||||
Change of shareholding interest in subsidiary | (512,836) | 1,322,716 | 1,322,716 | (1,835,552) | |||||||||||||||
Total changes in ownership interests | (512,836) | 1,322,716 | 1,322,716 | (1,835,552) | |||||||||||||||
Total transactions with owners of the Company | 1,822,161 | 514,877 | 1,287,340 | (2,363,309) | (561,092) | 2,383,253 | |||||||||||||
Predecessor adjustments | 6,360,525 | (583,941) | (4,984,931) | 1,381,798 | 1,935,735 | 4,109,186 | (4,109,186) | ||||||||||||
Ending balance at Dec. 31, 2021 | R$ 28870022 | R$ 6365853 | R$ 69064 | R$ 1690235 | R$ 521609 | R$ 10655992 | R$ 14740937 | R$ 14129085 |
Consolidated statement of cash
Consolidated statement of cash flows - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities | |||
Profit before income taxes | R$ 6250876 | R$ 1990961 | R$ 3661948 |
Adjustments for: | |||
Depreciation and amortization | 2,504,384 | 2,340,854 | 2,287,877 |
Lease and concession (reversal) provision | (379,636) | ||
Interest in earnings of associates | (130,225) | (28,801) | (1,231) |
Interest in earnings of joint ventures | (4,590,631) | (583,001) | (1,131,406) |
(Gain) loss on disposed assets | (7,295) | (30,610) | 36,045 |
Share-based payment | 53,131 | 272,692 | 101,283 |
Legal proceedings provision | 263,945 | 27,437 | 102,811 |
Interest and exchange, net | 2,911,179 | 2,111,772 | 2,125,655 |
Sector financial assets and liabilities, net | 246,100 | 337,620 | |
Deferred revenue | (6,325) | (8,271) | |
Provisions for employee benefits | 358,053 | 161,042 | 229,812 |
Allowance for expected credit losses | (2,813) | 32,098 | 6,630 |
Disposal of credit rights | 68,311 | (410,000) | |
Recovering tax credits | (648,315) | (132,399) | (165,398) |
Loss in energy derivative operations | 58,701 | ||
Change in fair value of investment property | (17,116) | ||
Gain in a bargain purchase | (416,268) | ||
Other | (23,731) | 436,260 | (109,423) |
Cash flows from operating activities before changes in working capital | 6,809,975 | 6,618,275 | 6,726,332 |
Changes in: | |||
Trade receivables | (404,016) | 67,291 | (145,933) |
Inventories | (245,174) | (117,166) | (90,880) |
Other current tax, net | 155,712 | 74,949 | 179,622 |
Income tax | (950,401) | (868,234) | (407,477) |
Related parties, net | (111,149) | 572,601 | 22,827 |
Trade payables | 591,975 | 167,019 | 383,459 |
Employee benefits | (150,087) | (170,133) | (198,312) |
Provision for legal proceedings | (131,260) | (212,699) | (187,292) |
Other financial liabilities | 50,856 | (91,935) | 26,525 |
Judicial deposits | (58,608) | (23,493) | (62,727) |
Discontinued operation | (17,615) | ||
Cash received (paid) on disposal of credit rights | (31,857) | 410,000 | |
Tax losses acquired | (208,118) | ||
Post-employment benefits | (34,004) | (37,444) | (39,387) |
Other assets and liabilities, net | (238,320) | (301,931) | |
Concessions payable | (168,510) | (51,947) | (474) |
Changes in working capital | (1,662,784) | (961,368) | (429,595) |
Net cash from operating activities | 5,147,191 | 5,656,907 | 6,296,737 |
Cash flows from investing activities | |||
Capital contribution in associates | (417,216) | (1,142) | (31,113) |
Acquisition of subsidiary, net of cash acquired | (592,733) | (94,631) | (9,837) |
(Purchase) sale of marketable securities | (514,459) | (483,574) | 1,230,431 |
Restricted cash | 26,313 | 124,330 | (31,439) |
Dividends received from associates | 16,426 | 13,165 | 17,690 |
Dividends received from joint ventures | 819,729 | 1,852 | 1,462,625 |
Other financial assets | (14,168) | 11 | (17,022) |
Acquisition of property, plant and equipment, intangible assets and contract assets | (4,774,839) | (4,034,688) | (2,762,937) |
Net cash from sale of discontinued operations | 432 | ||
Acquisition of associates shares | (51,299) | ||
Cash received on sale of fixed assets, and intangible assets | 3,090 | 3,045 | 10,578 |
Other | 1,025 | (194) | |
Net cash used in investing activities | (5,446,832) | (4,523,125) | (130,592) |
Cash flows from financing activities | |||
Loans, borrowings and debentures raised | 12,548,547 | 10,336,257 | 9,352,123 |
Repayment of principal on loans, borrowings and debentures | (9,925,067) | (3,397,060) | (4,422,026) |
Payment of interest on loans, borrowings and debentures | (2,321,868) | (1,782,976) | (1,384,184) |
Payment of derivative financial instruments | (647,168) | (61,716) | (126,986) |
Receipt of derivative financial instruments | 4,325,918 | 1,383,411 | 251,545 |
Payment of non-debt related derivative financial instruments | (227,012) | (101,461) | |
Receipt of non-debt related derivative financial instruments | 197,679 | 106,519 | |
Repayment of principal on lease liabilities | (461,040) | (5,424,917) | (423,283) |
Payment of interest on leases | (165,301) | (500,922) | (249,325) |
Cash contribution from non-controlling interest | 2,252,306 | 4,397,772 | 453,082 |
Payments to redeem entity’s shares and acquisition of treasury shares | (26,101) | (495,048) | (1,141,302) |
Transactions with non-controlling interests | 69,155 | 65,478 | 1,192 |
Acquisition of non-controlling interests | (698,147) | (269,977) | (3,086,642) |
Dividends paid | (2,558,886) | (546,302) | (738,152) |
Discontinued operation | 1,543 | ||
Payment of share-based compensation | (45,024) | (22,804) | (45,961) |
Other | 1,397 | ||
Net cash from (used in) financing activities | 2,319,388 | 3,686,254 | (1,558,376) |
Net increase in cash and cash equivalents | 2,019,747 | 4,820,036 | 4,607,769 |
Cash and cash equivalents at beginning of year | 13,642,918 | 8,472,274 | 3,621,798 |
Effect of foreign exchange rate changes | 511,465 | 350,608 | 242,707 |
Cash and cash equivalents at end of year | 16,174,130 | 13,642,918 | 8,472,274 |
Additional information | |||
Income tax paid | R$ 462120 | R$ 592243 | R$ 287451 |
Consolidated statement of cas_2
Consolidated statement of cash flows (Parenthetical) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
North South Railroad Concession Agreement [Member] | |||
Statement [LineItems] | |||
Right-of-use assets recognized | R$ 104840 | R$ 3522469 | |
Construction in progress [member] | |||
Statement [LineItems] | |||
Payment for acquisition of assets in installments | 263,143 | 297,002 | R$ 176632 |
Companhia de Gas de Sao Paulo - COMGAS [member] | |||
Statement [LineItems] | |||
Non-cash payment of annual adjustment for previous fiscal year | 262,843 | ||
Payly Solucoes de Pagamentos SA [Member] | |||
Statement [LineItems] | |||
Capital contribution capitalization of expenses | R$ 3750 | R$ 10000 |
Operations and Corporate Reorga
Operations and Corporate Reorganization | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of operations and corporate reorganization [Abstract] | |
Disclosure of operations and corporate reorganization | Operations and Corporate Reorganization Cosan S.A. (“Cosan” and together with its subsidiaries collectively, the “Company”) is a publicly traded Company on the B3 S.A. - Brasil, Bolsa, Balcão, or “B3,” on the special New Market (Novo Mercado) segment under the ticker symbol “CSAN3.” The Company’s American Depositary Shares, or “ADSs,” are listed on the New York Stock Exchange, or “NYSE,” and traded under the symbol “CSAN.” Cosan is a corporation (sociedade anônima) of indefinite term incorporated under the laws of Brazil, with its registered office in the city of São Paulo, state of São Paulo. Mr. Rubens Ometto Silveira Mello is the ultimate controlling shareholder of Cosan. Corporate reorganization On January 22, 2021, the shareholders of Limited, the former parent company of S.A. and , approved an intra-group reorganization, announced on July 3, 2020, consisting of a merger of companies under common control, as provided by art. 264, paragraph 4, of Brazilian Law No. 6,404, pursuant to which Limited and were merged into S.A., or the “Corporate Reorganization” As part of an effort to streamline our operations, the Company carried out a corporate reorganization to enhance its corporate structure by making Cosan S.A. the sole holding company of the group. The corporate reorganization simplified the 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. The following charts set forth simplified representations of our operating structure before and after the corporate reorganization. Figure 1: Simplified operating structure prior to the merger. Figure 2: Simplified operating structure immediately after the merger. The Merger Protocol also established the exchange ratio for the shares. Each Class A and Class B Shares issued by Cosan Limited and outstanding immediately prior to the consummation of the merger were automatically converted into the right to receive 1.29401595263 Cosan S.A. ADSs. The exchange ratio for the exchange of Cosan Logística shares for Cosan S.A. shares is 0.25360679585 Cosan S.A. shares for one Cosan Logística share. This is equivalent to 0.772788 Cosan Limited shares for each Cosan S.A. share or Cosan S.A. ADS, as applicable, and 3.943112 Cosan Logística shares for each Cosan S.A. share. |
Company history
Company history | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of company history [Abstract] | |
Company history | 2. Company history On March 28, 2019, Rumo S.A. (“Rumo”) announced that it won the tender (Bidding No. 02/2018) organized by Brazilian Transportation Authority ( Agência Nacional de Transporte Terrestre 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 year On November 1, 2019, Raízen S.A. (formerly known as Raízen Combustíveis S.A), or “Raízen,” and FEMSA Comercio, S.A. de C.V., or “FEMSA Comercio,” formed a joint venture in the convenience and proximity store business which operates stores under the OXXO brand, called Rede Integrada de Lojas de Convenências e Proximidade S.A., or “Grupo Nós.” The enterprise value was R$1,122,000, with an effect on interest in earnings of joint venture of R$528,967, resulting from gains related to dilution of shares, sale of shares and the fair value in the formation of this joint venture. The transaction was concluded on November 1, 2019. On January 14, 2020, Cosan S.A. contributed the shares it owned in Comgás (103,699,333 common shares and 27,682,044 preferred shares), equivalent to a 99.15% interest in Comgás, to the Cosan S.A.’s wholly owned subsidiary Compass Gás e Energia S.A. (“Compass Gás e Energia”), equivalent to R$2,861,936. The transaction was a reorganization of entities under the Company's common control, a such, there were no effects on the Company's consolidated financial statements. On January 30, 2020, the subsidiary Compass Comercialização S.A. acquired control of Compass Comercializadora Ltda., Compass Geração Ltda. and Compass Energia Ltda. for an amount of R$99,385 (Note 9.3.2). The purpose of these acquisition was is to enter the electricity and natural gas trading business. On March 9, 2020, Cosan S.A. announced the creation of the new “Gas and Power,” segment which created to provide gas and power solutions in Brazil. The Gas and Power segment focuses on four pillars: (1) infrastructure which brings natural gas from the pre-salt offshore reserves and international markets into Brazil; (2) a distribution system relying on Brazil’s largest distributor of piped natural gas, i.e., Comgás; (3) energy generation by converting natural gas into electricity; and (4) trading of gas and electricity to power industries and businesses. On November 30, 2020, the subsidiary Compass Comercializadora Ltda. merged into Compass Comercialização S.A., with Compass Comercialização S.A. being the surviving entity. 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 the Company, 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 and 19,500,000, respectively. On March 1, 2021, the Company settled the Total Return Swap and a new agreement was entered into with Cosan S.A. On May 27, 2020, Rumo signed 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 On August 28, 2020, Rumo completed a follow-on offering of common shares as a result of which it raised R$6,400,000 through the issuance of 294,252,874 common shares at a price of R$21.75 per share. Rumo used the proceeds of the offering to (i) prepay grants due in connection with certain of Rumo’s concession agreements and (ii) finance several strategic projects that were driven by the recent early renewal of the Malha Paulista concession agreement. On October 26, 2020, the subsidiary Compass Gás e Energia presented, with the approval of its Board of Directors, a proposal in the competitive divestment process promoted by Petróleo Brasileiro S.A. – Petrobras for the sale of the 51% interest in the share capital of Petrobras Gás S.A. – Gaspetro (“Gaspetro”). On July 28, 2021, Compass Gás e Energia entered into a share purchase and sale agreement for the acquisition of control of Gaspetro for the amount of R$2,030,000, to be paid at closing, subject to the adjustments provided for in the agreement. The completion of the transaction is subject to the fulfillment of certain suspensive conditions, which include, but are not limited to, the observation of the period for exercising the preemptive right of other shareholders of Gaspetro and its investees and the approval by the competent bodies. In February 2021, Rumo Malha Central S.A., or “Rumo Malha Central”, started its logistic rail service. The operations began with rail connecting between operations of Rumo Malha Paulista S.A., or “Rumo Malha Paulista” and Rumo Malha Norte S.A. or “Rumo Malha Norte.” On May 20, 2021, Raízen entered into a renewal of the license agreement for the use of the “ ” On May 31, 2021, the subsidiary Compass Gás e Energia entered into an investment agreement with Atmos Ilíquidos 1 Fundo de Investimento em Ações, Atmos Master Fundo de Investimento em Ações, Manzat Inversiones Auu S.A. and Ricardo Ernesto Correa da Silva (together “Investors”), through which the Investors agreed to jointly subscribe 30,853,032 preferred shares issued by Compass Gás e Energia S.A. (“Compass”), representing 4.68% of its share capital, for an amount of R$810,000. In compliance with one of the contractual conditions, on August 12, 2021, Compass Gás e Energia was listed with the Brazilian stock Exchange B3. The investment agreement was concluded with the financial settlement by the Investors on August 27, 2021. On September 4, 2021, Compass entered into a second investment agreement with Bradesco Vida e Previdência S.A. (“Bradesco”), BC Gestão de Recursos Ltda., Prisma Capital Ltda. and Nucleus Capital Ltda., for the issuance subscription of new preferred shares for a total amount of R$1,440,000 representing 7.68% of share capital. On September 10, 2021, the first financial settlement of the investment made by Bradesco was concluded, via capital increase in Compass in the amount of R$810,015 through the issuance of new preferred shares representing 4.47% of Compass Gás e Energia share capital. On October 29, 2021, the remaining settlement of the investment was made for a total amount of R$630,000. The total amount of the contributions made by the non-controlling shareholders was R$2,250,015. See transaction details in Note 9 .1 On June 1, 2021, the shareholders of Raízen Energia S.A. (“Raízen Energia”) contributed all the issued shares by Raizen Energia, including common shares, class A and D preferred shares, to Raízen S.A. (formerly known as Raízen Combustíveis S.A.), S.A. S.A. On June 3, 2021, Raízen S.A., completed its registration with the Brazilian Securities Commission (Comissão de Valores Mobiliários), or “CVM.” On September 9, 2021, Raízen completed and initial public offering ( “ ” . See the effects of Raízen ’ 10 On August 10, 2021, Raizen S.A. completed the acquisition of Biosev S.A., or “Biosev”, for an amount of R$4,581,899. This payment was used, in turn, to pay part of Biosev ’ Biosev ’ ’ On August 23, 2021, the Company's subsidiary Atlântico Participações Ltda., or “Atlântico,”, which is engaged in the mining segment signed a binding proposal for the acquisition of 100% of TUP Porto São Luis S.A., or “Porto São Luis,” for an amount of R$804,803 from the controlling shareholder, São Luís Port Company SARL, a China Communications Construction Company Limited, or “CCCC,” (owed of 51% interest) and the other minority shareholders jointly holding a 49% interest. On February 11, 2022, the acquisition was completed which resulting in the Company holding 100% of the equity interest in Porto São Luis. In addition, on August 23, 2021, Atlântico signed a Binding “MoU” with the company Grupo Paulo Brito, founder and controller of Aura Minerals Inc. (“Aura”), a mining company focused on gold and copper, to form a joint venture for the exploration of iron ore, which will be shipped through TUP Porto São Luis S.A. (“JV Mineração”). This MoU provides that Atlântico will hold 37% of the total capital and shared control of the new combined entity, or 50% of the common shares of the new combined entity, after the contribution of Porto São Luis and cash, depending on calls from capital by the Company’s management. JV Mineração will be an integrated mining and logistics company, which will have, in addition to Porto São Luis, exploration rights for mining assets in three mineral projects located in the state of Pará, with significant potential for iron ore reserves, to be sold through the Port of São Luis. With the beginning of its operations expected for 2025, the first mineral project to be explored by JV Mineração is located near to Paraupebas in the state of Pará, in the Carajás region, connected to Porto São Luis by the Carajás railroad. The completion of the transaction is subject to conditions precedent that have not yet been met as of the date of this consolidated financial statements. On September 1, 2021, Cosan S.A anticipated the payment of obligations with non-controlling preferred shareholders of Cosan Investimentos e Participações S.A (“CIP”) for the amount of R$182,373. On December 1, 2021, CIP was merged into the Company. Considering that CIP ’ On September 10, 2021, the subsidiary Rumo definitively ended the existing arbitration procedure with the non-controlling shareholders of Brado Logística e Participações S.A. (Logística Brasil – Fundo de Investimento e Participações, Dimitrio Markakis and Deminvest Empreendimentos e Participações), acquiring 2,000 shares, representing 15.42% of the share capital, for R$388,739, increasing its interest to 77.65% in Brado Logística e Participações S.A. On September 19, 2021, the subsidiary Rumo Malha Norte S.A. (“Rumo Malha Norte”) entered into an adhesion agreement with the State of Mato Grosso, which allows Rumo Malha Norte to engage in the construction, operation, exploration and conservation of a railroad that independently connects the Rondonópolis railroad terminal to Cuiabá and Lucas do Rio Verde in the state of Mato Grosso. On September 20, 2021, Cosan entered into a Share Purchase Agreement with Mansilla Participações Ltda. (“Mansilla,” a vehicle of the investment fund TIAA – Teachers Insurance and Annuity Association of America), for the acquisition of an additional shareholding interest in Radar. On November 3, 2021, the Company acquired control of Radar from Mansilla. For more information, see Note 9.3. On October 19, 2021, under the Amendment to the Sale and Purchase of Member Interests, the Company and ExxonMobil International Holdings BV agreed on the payment made by Cosan Lubrificantes e Especialidades S.A. (“CLE”) of R$208,118 related to tax credits granted during the Tax Optimization Program that CLE has entered into. CLE has now the full right of these tax credits. On October 22, 2021, Compass Um Participações S.A., a subsidiary of Compass Gás e Energia, submitted the winning bid in Auction No. 01/2021, held at the Brazilian stock Exchange B3 for the acquisition of 51% interest in Companhia de Gás do Estado do Rio Grande do Sul (“Sulgás”)’s capital, owned by the Government of the State of Rio Grande do Sul. Sulgás’s distribution network totals approximately 1,400 km, serving over 68,000 customers in 42 cities, and distributes a volume of two million cbm/day. The acquisition was completed on January 3, 2022. The consideration transferred amounted to R$955,244. A preliminary concession right in the amount of R$2,777,415 was recorded as an intangible asset . The 49% non-controlling interest totaling R$917,783, recognized on the acquisition date, was measured based on the fair value of the non-controlling interest. 2.1 Recent developments and other information COVID- 19 During the year ended on December 31, 2021, the Company and jointly controlled companies continue to monitor the evolution of the COVID-19 pandemic in Brazil and worldwide, in order to take preventive measures to minimize the spread of the virus, ensure continuity of operations and safeguard the health and safety of our employees and partners. The response to the pandemic has been effective in limiting the impacts on our operational facilities, employees, supply chain and logistics. On December 31, 2021, the Company had positive consolidated working capital of R$ Our debt 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, 2021, the Company was in compliance with all restrictive financial clauses. Considering the 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 pandemic, our weighted average cost of capital should not undergo material changes. The Company assessed the circumstances that could indicate impairment of its non-financial assets and concluded that there were no changes in the circumstances th at would indicate an impairment loss. Our tax recovery projections are based on the same scenarios and assumptions used in the impairment assessment. 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 the 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, 2021, sufficient to cover possible losses on the amounts receivable, in addition to a prospective assessment that consider 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 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. Our inventories are composed, substantially, of lubricants, base oil and materials for the construction of gas pipelines, which are products that are do not expire or have a long duration and, therefore, we do not observe indicators of obsolescence or impairment. To date, there have been no changes in the scope of the Company's leases, including adding, terminating, extending and reducing the contractual term of the lease. Also, there was no change in the consideration for the leases that we are lessees and lessors. Russian-Ukrainian conflict On February 24, 2022, Russian troops started invading Ukraine. The ongoing military attack has led, and continues to lead, to significant casualties, dislocation of the population, damage to infrastructure and disruption to economic activity in Ukraine. In response, multiple jurisdictions, including the European Union, the United Kingdom and the United States have imposed initial tranches of economic sanctions on Russia (and in certain cases Belarus). In addition to the imposition of sanctions, a growing number of large public and private companies have announced voluntary actions to curtail business activities with Russia and Belarus. These actions include plans to dispose of assets or discontinue operations in Russia/Belarus, curtailing exports to, or imports from, these countries and discontinuing the provision of services. Moreover, the war has added to mounting concerns of a sharp global growth slowdown. As a company that operates globally through its subsidiaries and joint venture, the ongoing conflict between Russia and Ukraine, and/or economic sanctions and import and/or export controls have not materially affected the Company’s financial statements to date. The main operations that may be affected are: (i) Fertilizer transported volumes; (ii) Unfavorable conditions for obtaining fertilizers affecting sugarcane production capacity; (iii) An increase in oil prices as a result of a more limited supply of Russian oil globally may also lead to a decrease of our margins and an increase in the costs of acquisition of basic inputs such as diesel oil; and (iv) Measures by the Brazilian government and the Brazilian Central Bank to contain inflation, such as raising the basic interest rate, which could materially impact the cost of debt and third-party capital for our financing and investing activities. Although the Company, its subsidiaries and joint venture do not conduct material business in Russia or Ukraine, we closely monitor the indirect effects that the war in Ukraine could have on international supply chains, and therefore cost of inputs and overall inflation. Cybersecurity On March 11, 2020, the Company, its subsidiaries and jointly controlled companies suffered a Following the incident, the Company made significant investments in privacy, protection and security of information/cybernetics, both in technologies and in processes and hiring for the teams. As part of the actions, we take steps to combat access and misuse of our data, including more robust investigations and audits of our information technology systems. As a result of these efforts, we mitigate additional incidents of data misuse or other undesirable activities by third parties. In addition, we performed an audit and forensic assessment of the attack suffered and did not identify any relevant impacts on the consolidated financial statements. |
Basis of accounting
Basis of accounting | 12 Months Ended |
Dec. 31, 2021 | |
Basis of accounting | |
Basis of accounting | 3. Basis of preparation 3.1 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 May 13, 2022. 3.2 Corporate Reorganization – Predecessor method As mentioned in Note 1, on January 22, 2021, the shareholders of Cosan Limited (the former parent company of Cosan S.A. and Cosan Logística S.A.) and the shareholders of Cosan S.A. and Cosan Logística S.A. approved a corporate reorganization, pursuant to which Cosan Limited and Cosan Logística S.A. were merged into Cosan S.A. As a result of the Corporate Reorganization, Cosan S.A. became the sole holding company of the Cosan Group. IFRS provides no guidelines for the accounting of corporate reorganizations among entities under common control, as such, based on the guidance of International Accounting Standards (“IAS”) 8, Accounting Policies, Changes in Accounting Estimates and Errors, paragraphs 10 through 12, the Company developed and applied and accounting policy, considering the most recent pronouncements of other standard-setting bodies that use a similar conceptual framework to develop accounting standards other accounting literature and industry practices. As a result, the Company accounted for the Corporate Reorganization using the predecessor method of accounting, and the consolidated financial statements are presented “as if” Cosan Limited is the predecessor of the Company. Under the predecessor method, the historical operations of Cosan Limited are deemed to be those of the Company. Thus, these consolidated financial statements reflect: (i) the historical operating results and financial position of (ii) the consolidated results and financial position of (iii) the assets and liabilities of (iv) Cosan S.A’s earnings per share for all periods presented. The number of ordinary shares outstanding of Cosan S.A., as a result of the corporate reorganization is reflected retroactively as of January 1, 2019, for purposes of calculating earnings per share in all prior periods presented. See note 18; and (v) Cosan % of its shareholders' equity, and , representing % of its shareholders' equity. These shares were recorded in the financial position as a financial asset, being measured at fair value through profit or loss, as Management considered trading these shares. With the corporate reorganization, the financial asset, as well as its applicable taxes, was derecognized by R$734,903 3.3 Changes in the presentation and classification of concession intangible assets amortization expense The Company re-assessed its presentation of the amortization expense related to its concession intangible assets in its statement of profit or loss and comprehensive income. The Company had previously presented the amortization expense related to its concession intangible assets in selling, general and administrative expenses. The Company elected to change the presentation of the amortization expense related to its concession intangible assets to cost of sales, as the Company believes that such presentation provides more relevant information to the users of its financial statements as it is more aligned to practices adopted by industry. This reclassification does not impact regulatory margins or key indicators used by the Company. The Company has recast the statement of profit or loss and comprehensive income for prior periods as follows: December 31, 2020 Reclassification December 31, 2020 (restated) Net sales 20,437,835 — 20,437,835 Cost of sales (14,501,725 ) (498,098 ) (14,999,823 ) Gross profit 5,936,110 (498,098 ) 5,438,012 Selling expenses (959,146 ) 297,239 (661,907 ) General and administrative expenses (1,790,678 ) 200,859 (1,589,819 ) Other income, net 176,869 — 176,869 Operating expenses (2,572,955 ) 498,098 (2,074,857 ) Profit before equity in earnings of investees, finance results and income taxes 3,363,155 — 3,363,155 Equity in earnings of investees 611,802 — 611,802 Finance results, net (1,983,996 ) — (1,983,996 ) Profit before income taxes 1,990,961 — 1,990,961 Income taxes (502,667 ) — (502,667 ) Profit for the year 1,488,294 — 1,488,294 December 31, 2019 Reclassification December 31, 2019 (restated) Net sales 20,611,409 — 20,611,409 Cost of sales (14,160,233 ) (456,752 ) (14,616,985 ) Gross profit 6,451,176 (456,752 ) 5,994,424 Selling expenses (1,122,866 ) 456,752 (666,114 ) General and administrative expenses (1,236,062 ) — (1,236,062 ) Other income, net 404,686 — 404,686 Operating expenses (1,954,242 ) 456,752 (1,497,490 ) Profit before equity in earnings of investees, finance results and income taxes 4,496,934 — 4,496,934 Equity in earnings of investees 1,132,637 — 1,132,637 Finance results, net (1,967,623 ) — (1,967,623 ) Profit before income taxes 3,661,948 — 3,661,948 Income taxes (779,596 ) — (779,596 ) Profit from discontinued operation, net of tax 11,021 — 11,021 Profit for the year 2,893,373 — 2,893,373 |
Accounting policies
Accounting policies | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Accounting policies | 4. Accounting policies The accounting policies applied in the preparation of these consolidated financial statements are described in their respective notes, except those described below: 4.1 Functional and presentation currency The consolidated financial statements are presented in Brazilian reais. However, the functional currency of Cosan Limited (the predecessor of the Company) is the U.S. dollar. The functional currency of Cosan S.A. is the Brazilian reais, which is the currency of the primary economic environment in which Cosan S.A. and its subsidiaries and jointly-controlled entity, located in Brazil, operate and generate and expend cash. The functional currency of subsidiaries located outside Brazil is the U.S. dollar, British pound or the Euro. All amounts have been rounded to the nearest thousand, unless otherwise indicated. Monetary assets and liabilities denominated and calculated in foreign currencies on the balance sheet date are reconverted to the functional currency at the exchange rate on that date. Non-monetary assets and liabilities that are measured at fair value in a foreign currency are reconverted to the functional currency at the exchange rate on the date the fair value was determined. Non-monetary items that are measured at historical cost in a foreign currency are translated at the exchange rate on the transaction date. Foreign currency differences resulting from translation are generally recognized in profit or loss. The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on acquisition, are translated into Brazilian reais at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into Brazilian reais at the exchange rates at the dates of the transactions. Foreign currency differences are recognized and presented in other comprehensive income in shareholders' 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 control, loss or significant influence is lost, the accumulated 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. The following table set forth the exchange rate, expressed in reais (R$) per U.S. dollar (U.S.$), British pound (£) and Euro (€), as reported by the Central Bank of Brazil (Banco Central do Brasil), “BACEN,” for the years indicated: Currency December 31, 2021 December 31, 2020 December 31, 2019 U.S. dollar (U.S.$) 5.581 5.197 4.031 British pound (£) 7.524 7.101 5.325 Euro (€) 6.321 6.378 4.531 4.2 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 6.3 – Trade receivables Note 6.7 – Leases Note 6.9 – Sector financial assets and liabilities Note 6.11 – Recognized fair value measurements Note 10 – Investments in joint venture Notes 11.1 e 11.2 – Property, plant and equipment, intangible assets and goodwill Note 11.5 – Investment property Note 12 – Commitments Note 15 – Income tax Note 16 – Provision for legal proceedings Note 23 – Post-employment benefits Note 24 – Share-based payments |
Segment information
Segment information | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Segment information | 5. 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: fuel distribution and marketing, primarily through a franchised network of service stations under the Shell brand throughout Brazil, petroleum refining, fuel retailer operation, convenience store business, the manufacture and sale of automotive and industrial lubricants, and the production and sale of liquefied petroleum gas throughout Argentina; in addition to the production and marketing of a variety of products derived from sugarcane, including raw sugar (Very High Polarization, or “VHP”), anhydrous and hydrated ethanol, activities related to energy cogeneration from sugarcane bagasse, and sale of electricity, comprising the purchase and sale of electricity to other traders. In addition, this segment has interests in companies involved in research and development of new technologies. Prior to the Raízen Reorganization the Company had two reportable segments; Raízen Combustíveis and Raízen Energia. In 2021, as a result of such reorganization the Company presents a single Raízen segment and has recast prior periods segment information; Gas and Power: its main activities are: (i) distribution of piped natural gas in part of the State of São Paulo to customers in the industrial, residential, commercial, automotive and cogeneration sectors; and (ii) the sale of electricity, comprising the purchase and sale of electricity to other traders, to consumers who have a free choice of supplier and to other agents permitted by law, (iii) other investments in the development process and corporate activities, including, Rota 4 and Edge II - Empresa de Geração de Energia S.A.; 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; Cosan Investments: management of agricultural properties, mining and logistics projects and investment in the Climate Tech Fund, a fund managed by Fifth Wall, specializing in technological innovation; and Reconciliation Cosan Corporate: digital wallet platform and other investments, in addition to the corporate activities of the Company. The Cosan corporate segment includes the financing subsidiaries for the Cosan group. Although, Raízen S.A. is a joint venture recorded under the equity method and is not proportionally consolidated, the chief operating decision maker continues to review the information by segment. The reconciliation of this segment is presented in the column “Deconsolidation effects”. December 31, 2021 Reported Segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Investments Cosan Corporate Deconsolidated effects Segment elimination Consolidated Statement of profit or loss Gross sales 188,825,984 15,711,939 7,697,074 7,944,312 32,695 9,002 (188,825,984 ) (57,091 ) 31,337,931 Domestic market (i) 182,035,680 15,711,939 7,021,757 7,606,966 32,695 9,002 (182,035,680 ) (57,091 ) 30,325,268 External market (i) 6,790,304 — 675,317 337,346 — — (6,790,304 ) — 1,012,663 Net sales 175,047,270 12,330,209 6,112,457 7,439,632 31,502 8,292 (175,047,270 ) (57,091 ) 25,865,001 Cost of sales (163,367,574 ) (9,755,425 ) (4,808,643 ) (5,352,040 ) — (5,231 ) 163,367,574 57,091 (19,864,248 ) Gross profit 11,679,696 2,574,784 1,303,814 2,087,592 31,502 3,061 (11,679,696 ) — 6,000,753 Selling expenses (3,882,690 ) (125,412 ) (551,520 ) (38,959 ) — (7,528 ) 3,882,690 — (723,419 ) General and administrative expenses (1,788,180 ) (502,048 ) (269,810 ) (472,739 ) (6,499 ) (321,261 ) 1,788,180 — (1,572,357 ) Other income (expenses), net 717,792 25,569 23,414 (69,017 ) 21,017 381,617 (717,792 ) — 382,600 Interest in earnings of associates (43,534 ) — — 12,857 — 2,195,679 43,534 (2,078,311 ) 130,225 Interest in earnings of joint ventures — — — — — 4,590,631 — — 4,590,631 Finance results, net (1,967,124 ) (289,616 ) (63,797 ) (1,359,940 ) 3,199 (847,403 ) 1,967,124 — (2,557,557 ) Finance expense (1,606,724 ) (900,783 ) (61,870 ) (705,623 ) (51 ) (859,179 ) 1,606,724 — (2,527,506 ) Finance income 580,266 703,204 58,071 399,134 3,250 94,782 (580,266 ) — 1,258,441 Foreign exchange, net (1,076,722 ) (60,953 ) (66,118 ) (489,952 ) — (482,513 ) 1,076,722 — (1,099,536 ) Derivatives 136,056 (31,084 ) 6,120 (563,499 ) — 399,507 (136,056 ) — (188,956 ) Income taxes (1,350,252 ) 59,360 (147,138 ) (4,053 ) (4,215 ) 541,630 1,350,252 — 445,584 Profit for the year 3,365,708 1,742,637 294,963 155,741 45,004 6,536,426 (3,365,708 ) (2,078,311 ) 6,696,460 Profit (loss) attributable to: Owners of the Company 3,379,014 1,650,725 205,139 150,539 22,502 6,361,546 (3,379,014 ) (2,078,311 ) 6,312,140 Non-controlling interests (13,306 ) 91,912 89,824 5,202 22,502 174,880 13,306 — 384,320 3,365,708 1,742,637 294,963 155,741 45,004 6,536,426 (3,365,708 ) (2,078,311 ) 6,696,460 Other select data Depreciation and amortization 6,393,642 559,994 96,852 1,830,683 39 16,818 (6,393,642 ) (2 ) 2,504,384 EBITDA 13,076,726 2,532,887 602,750 3,350,417 46,059 6,859,017 (13,076,726 ) (2,078,313 ) 11,312,817 Additions to PP&E, intangible and contract asset 5,282,100 1,269,886 42,536 3,453,407 278 8,732 (5,282,100 ) — 4,774,839 Reconciliation of EBITDA Profit for the year 3,365,708 1,742,637 294,963 155,741 45,004 6,536,426 (3,365,708 ) (2,078,311 ) 6,696,460 Income taxes 1,350,252 (59,360 ) 147,138 4,053 4,215 (541,630 ) (1,350,252 ) — (445,584 ) Finance results, net 1,967,124 289,616 63,797 1,359,940 (3,199 ) 847,403 (1,967,124 ) — 2,557,557 Depreciation and amortization 6,393,642 559,994 96,852 1,830,683 39 16,818 (6,393,642 ) (2 ) 2,504,384 EBITDA 13,076,726 2,532,887 602,750 3,350,417 46,059 6,859,017 ( 13,076,726 ) ( 2,078,313 ) 11,312,817 (i) December 31, 2020 (Restated) Reported Segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Corporate Deconsolidated effects Segment elimination Consolidated Statement of profit or loss Gross sales 127,832,718 12,024,615 5,588,754 7,349,804 880 (127,832,718 ) (37,887 ) 24,926,166 Domestic market (i) 117,788,563 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 118,049,722 9,093,170 4,415,575 6,966,159 818 (118,049,722 ) (37,887 ) 20,437,835 Cost of sales (110,800,498 ) (6,932,288 ) (3,380,304 ) (4,721,507 ) (3,611 ) 110,800,498 37,887 (14,999,823 ) Gross profit 7,249,224 2,160,882 1,035,271 2,244,652 (2,793 ) (7,249,224 ) — 5,438,012 Selling expenses (3,264,756 ) (156,892 ) (471,829 ) (30,670 ) (2,516 ) 3,264,756 — (661,907 ) General and administrative expenses (1,263,733 ) (376,615 ) (229,672 ) (411,336 ) (572,196 ) 1,263,733 — (1,589,819 ) Other income (expenses), net 554,126 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 (87,567 ) — — — 583,001 87,567 — 583,001 Finance results, net (1,431,267 ) (282,773 ) (129,342 ) (1,503,221 ) (68,660 ) 1,431,267 — (1,983,996 ) Finance expense (2,345,771 ) (374,252 ) (30,910 ) (2,920,241 ) (1,402,158 ) 2,345,771 — (4,727,561 ) Finance income 690,678 72,500 20,086 177,206 137,918 (690,678) — 407,710 Foreign exchange, net (3,821,462 ) (150,227 ) (161,636 ) (1,577,342 ) (1,369,451 ) 3,821,462 — (3,258,656 ) Derivatives 4,045,288 169,206 43,118 2,817,156 2,565,031 (4,045,288 ) — 5,594,511 Income taxes (537,004 ) (460,312 ) (87,941 ) (169,990 ) 215,576 537,004 — (502,667 ) Profit for the year 1,130,700 940,466 151,363 270,910 1,856,810 (1,130,700 ) (1,731,255 ) 1,488,294 Profit attributable to: Owners of the Company 1,081,176 923,420 104,570 43,602 1,519,145 (1,081,176 ) (1,731,255 ) 859,482 Non-controlling interests 49,524 17,046 46,793 227,308 337,665 (49,524 ) — 628,812 1,130,700 940,466 151,363 270,910 1,856,810 (1,130,700 ) (1,731,255 ) 1,488,294 Other select data Depreciation and amortization 5,059,239 500,714 108,687 1,715,527 15,926 (5,059,239 ) — 2,340,854 EBITDA 8,158,210 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 3,159,415 1,006,881 29,658 2,979,213 18,936 (3,159,415 ) — 4,034,688 Reconciliation of EBITDA Profit for the year 1,130,700 940,466 151,363 270,910 1,856,810 (1,130,700 ) (1,731,255 ) 1,488,294 Income taxes 537,004 460,312 87,941 169,990 (215,576 ) (537,004 ) — 502,667 Finance results, net 1,431,267 282,773 129,342 1,503,221 68,660 (1,431,267 ) — 1,983,996 Depreciation and amortization 5,059,239 500,714 108,687 1,715,527 15,926 (5,059,239 ) — 2,340,854 EBITDA 8,158,210 2,184,265 477,333 3,659,648 1,725,820 (8,158,210 ) (1,731,255 ) 6,315,811 (i) December 31, 2019 (Restated) Reported segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Corporate Deconsolidated effects Segment elimination Consolidated Statement of profit or loss Gross sales 140,230,052 12,007,634 5,072,163 7,473,730 106 (140,230,052 ) (37,047 ) 24,516,586 Domestic market (i) 132,455,731 12,007,634 4,948,678 7,232,158 106 (132,455,731 ) (37,047 ) 24,151,529 External market (i) 7,774,321 — 123,485 241,572 — (7,774,321 ) — 365,057 Net sales 129,349,463 9,514,222 4,046,296 7,087,840 98 (129,349,463 ) (37,047 ) 20,611,409 Cost of sales (122,429,335 ) (6,859,090 ) (3,185,745 ) (4,608,781 ) (416 ) 122,429,335 37,047 (14,616,985 ) Gross profit 6,920,128 2,655,132 860,551 2,479,059 (318 ) (6,920,128 ) — 5,994,424 Selling expenses (3,069,304 ) (157,740 ) (492,482 ) (6,983 ) (8,909 ) 3,069,304 — (666.114 ) General and administrative expenses (1,232,666 ) (404,441 ) (173,212 ) (364,555 ) (293,854 ) 1,232,666 — (1,236,062 ) Other income (expenses), net 2,021,001 (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 (7,206 ) — — — 1,131,406 7,206 — 1,131,406 Finance results, net (1,296,237 ) (180,381 ) (96,794 ) (1,197,817 ) (492,631 ) 1,296,237 — (1,967,623 ) Finance expense (2,180,426 ) (495,958 ) (38,514 ) (1,871,221 ) (1,284,885 ) 2,180,426 — (3,690,578 ) Finance income 767,336 315,634 22,385 202,875 433,710 (767,336 ) — 974,604 Foreign exchange, net (571,377 ) (27,518 ) (92,989 ) (205,839 ) (200,600 ) 571,377 — (526,946 ) Derivatives 688,230 27,461 12,324 676,368 559,144 (688,230 ) — 1,275,297 Income taxes (923,156 ) (588,389 ) (55,206 ) (129,247 ) (6,754 ) 923,156 — (779,596 ) Profit from continuing operations 2,527,728 1,292,647 75,102 778,249 3,580,352 (2,527,728 ) (2,843,998 ) 2,882,352 Profit from discontinued operation, net of tax — — — — 11,021 — — 11,021 Profit for the year 2,527,728 1,292,647 75,102 778,249 3,591,373 (2,527,728 ) (2,843,998 ) 2,893,373 Profit attributable to: Owners of the Company 2,399,076 1,255,369 72,971 157,216 3,586,632 (2,399,076 ) (3,755,847 ) 1,316,341 Non-controlling interests 128,652 37,278 2,131 621,033 4,741 (128,652 ) 911,849 1,577,032 2,527,728 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 3,625,854 459,584 97,827 1,716,185 14,281 (3,625,854 ) — 2,287,877 EBITDA 8,372,975 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 and contract asset 3,586,261 775,769 32,854 1,943,063 11,251 (3,586,261 ) — 2,762,937 Reconciliation of EBITDA Profit for the year 2,527,728 1,292,647 75,102 778,249 3,580,352 (2,527,728 ) (2,843,998 ) 2,882,352 Income taxes 923,156 588,389 55,206 129,247 6,754 (923,156 ) — 779,596 Finance results, net 1,296,237 180,381 96,794 1,197,817 492,631 (1,296,237 ) — 1,967,623 Depreciation and amortization 3,625,854 459,584 97,827 1,716,185 14,281 (3,625,854 ) — 2,287,877 EBITDA 8,372,975 2,521,001 324,929 3,821,498 4,094,018 (8,372,975 ) (2,843,998 ) 7,917,448 (i) December 31, 2021 Reported segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Investments Cosan Corporate Deconsolidated effects Segment elimination Consolidated Statement of financial position Assets 110,136,182 19,982,611 4,850,344 48,174,556 4,484,805 35,054,649 (110,136,182 ) (14,704,942 ) 97,842,023 Cash and cash equivalents 5,034,788 3,562,358 1,059,866 9,448,193 7,468 2,096,245 (5,034,788 ) — 16,174,130 Marketable securities 154,052 1,876,006 129,390 1,425,897 46,094 910,620 (154,052 ) — 4,388,007 Trade receivables 7,618,176 1,427,720 605,928 503,316 207,761 1,128 (7,618,176 ) — 2,745,853 Derivative financial instruments 11,805,548 358,456 26,513 1,674,821 — 2,673,136 (11,805,548 ) — 4,732,926 Inventories 14,297,068 129,554 790,825 228,923 — 2 (14,297,068 ) — 1,149,304 Sector financial assets — 558,310 — — — — — — 558,310 Other financial assets 261,412 — 466 — 319,728 (1 ) (261,412 ) — 320,193 Other current assets 12,545,650 340,909 298,004 747,308 13,470 1,599,793 (12,545,650 ) (668,152 ) 2,331,332 Other non-current assets 8,562,180 1,370,964 246,934 3,197,105 354 2,180,558 (8,562,180 ) (240,673 ) 6,755,242 Investments in associates — — — 57,844 — 14,518,340 — (13,796,117 ) 780,067 Investments in joint ventures 1,317,720 — — — — 10,936,663 (1,317,720 ) — 10,936,663 Biological assets 3,106,744 — — — — — (3,106,744 ) — — Investment properties — — — — 3,886,696 — — — 3,886,696 Contract asset 2,941,390 684,970 21,011 1 — — (2,941,390 ) — 705,982 Right-of-use assets 10,758,442 73,220 51,458 7,784,941 3,203 34,445 (10,758,442 ) — 7,947,267 Property, plant and equipment 22,506,160 271,490 334,065 15,974,562 31 68,405 (22,506,160 ) — 16,648,553 Intangible assets and goodwill 9,226,852 9,328,654 1,285,884 7,131,645 — 35,315 (9,226,852 ) — 17,781,498 Liabilities ( 84,736,772 ) (13,609,495 ) (2,564,187 ) (33,156,493 ) (246,599 ) (20,305,063 ) 84,736,772 909,836 (68,972,001 ) Loans, borrowings and debentures (26,967,092 ) (7,667,987 ) (831,148 ) (21,178,748 ) — (15,981,154 ) 26,967,092 — (45,659,037 ) Derivative financial instruments (12,377,276 ) (357,932 ) — (576,749 ) — (141,480 ) 12,377,276 — (1,076,161 ) Trade payables (15,678,442 ) (1,798,977 ) (828,690 ) (618,658 ) (1,006 ) (6,173 ) 15,678,442 — (3,253,504 ) Employee benefits payable (788,948 ) (104,404 ) (132,158 ) (255,963 ) — (60,466 ) 788,948 — (552,991 ) Sector financial liabilities — (1,372,283 ) — — — — — — (1,372,283 ) Other current liabilities (9,591,918 ) (472,592 ) (349,967 ) (1,384,611 ) (48,739 ) (1,384,091 ) 9,591,918 148,171 (3,491,829 ) Leases (10,685,524 ) (63,752 ) (53,436 ) (3,106,883 ) (3,253 ) (40,358 ) 10,685,524 — (3,267,682 ) Other non-current liabilities (8,647,572 ) (1,771,568 ) (368,788 ) (6,034,881 ) (193,601 ) (2,691,341 ) 8,647,572 761,665 (10,298,514 ) Total assets (net of liabilities) allocated by segment 25,399,410 6,373,116 2,286,157 15,018,063 4,238,206 14,749,587 (25,399,410 ) (13,795,107 ) 28,870,022 Equity attributable to: Owners of the Company 23,870,251 5,585,768 1,599,949 4,479,944 2,119,104 14,751,279 (23,870,251 ) (13,795,107 ) 14,740,937 Non-controlling interests 1,529,159 787,348 686,208 10,538,119 2,119,102 (1,692 ) (1,529,159 ) — 14,129,085 Total shareholders’ equity 25,399,410 6,373,116 2,286,157 15,018,063 4,238,206 14,749,587 (25,399,410 ) (13,795,107 ) 28,870,022 December 31, 2020 (restated) Reported segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Corporate Deconsolidated effects Segment elimination Consolidated Statement of financial position Assets 67,942,010 15,027,675 4,439,453 45,912,604 33,324,494 (67,942,010 ) (14,990,661 ) 83,713,565 Cash and cash equivalents 3,422,828 1,899,533 936,345 7,778,612 3,028,428 (3,422,828 ) — 13,642,918 Marketable securities 19,086 1,188,625 168,066 1,396,723 915,695 (19,086 ) — 3,669,109 Trade receivables 4,265,294 1,121,612 483,227 428,492 110 (4,265,294 ) — 2,033,441 Derivative financial instruments 6,064,604 517,181 28,463 3,988,524 3,606,532 (6,064,604 ) — 8,140,700 Inventories 8,317,566 121,064 564,836 249,318 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 5,761,106 276,139 146,166 685,659 1,938,096 (5,761,106 ) (764,392 ) 2,281,668 Other non-current assets 5,225,978 169,905 398,796 2,613,480 1,566,428 (5,225,978 ) (410,191 ) 4,338,418 Investments in associates — — — 50,715 14,149,214 — (13,816,078 ) 383,851 Investments in joint ventures 1,305,790 — — — 7,988,208 (1,305,790 ) — 7,988,208 Biological assets 1,073,582 — — — — (1,073,582 ) — — Contract asset 2,860,658 686,690 9,248 — — (2,860,658 ) — 695,938 Right-of-use assets 5,210,366 19,865 39,550 7,823,401 33,414 (5,210,366 ) — 7,916,230 Property, plant and equipment 18,165,518 15,326 327,535 13,646,248 79,397 (18,165,518 ) — 14,068,506 Intangible assets and goodwill 6,089,034 8,769,986 1,268,095 7,251,432 18,926 (6,089,034 ) — 17,308,439 Liabilities (51,528,998 ) (11,681,752 ) (2,473,884 ) (32,359,866 ) (17,553,779 ) 51,528,998 1,174,583 (62,894,698 ) Loans, borrowings and debentures (24,557,518 ) (7,043,909 ) (802,938 ) (21,656,908 ) (12,745,705 ) 24,557,518 — (42,249,460 ) Derivative financial instruments (3,088,300 ) (286,018 ) (348 ) — (159,695 ) 3,088,300 — (446,061 ) Trade payables (9,311,282 ) (1,182,111 ) (688,139 ) (754,546 ) (5,258 ) 9,311,282 — (2,630,054 ) Employee benefits payable (534,376 ) (74,543 ) (96,192 ) (139,058 ) (26,673 ) 534,376 — (336,466 ) Sector financial liabilities — (565,911 ) — — — — — (565,911 ) Other current liabilities (4,094,274 ) (662,779 ) (290,827 ) (950,582 ) (2,006,371 ) 4,094,274 204,366 (3,706,193 ) Preferred shareholders payable in subsidiaries — — — — (387,044 ) — — (387,044 ) Leases (4,734,766 ) (10,320 ) (41,299 ) (2,912,317 ) (37,911 ) 4,734,766 — (3,001,847 ) Other non-current liabilities (5,208,482 ) (1,856,161 ) (554,141 ) (5,946,455 ) (2,185,122 ) 5,208,482 970,217 (9,571,662 ) Total assets (net of liabilities) allocated by segment 16,413,012 3,345,923 1,965,569 13,552,738 15,770,715 (16,413,012 ) (13,816,078 ) 20,818,867 Equity attributable to: Owners of the Company 16,129,497 3,288,315 1,367,157 2,150,052 12,270,637 (16,129,497 ) (13,816,078 ) 5,260,083 Non-controlling interests 283,515 57,608 598,412 11,402,686 3,500,078 (283,515 ) — 15,558,784 Total shareholders’ equity 16,413,012 3,345,923 1,965,569 13,552,738 15,770,715 (16,413,012 ) (13,816,078 ) 20,818,867 5.1 Net sales to external customers by product/customer December 31, 2021 December 31, 2020 (restated) December 31, 2019 (restated) Reported segment Raízen Ethanol 27,464,271 19,625,060 20,286,705 Sugar 13,946,480 10,241,141 3,925,499 Gasoline 55,158,035 36,127,017 46,140,529 Diesel 71,828,092 46,967,219 51,522,023 Cogeneration 3,968,947 2,282,158 3,934,639 Other 7,288,547 2,807,127 3,540,068 Intercompany elimination (i) (4,607,102 ) — — 175,047,270 118,049,722 129,349,463 Gas and Power Natural gas distribution Industrial 7,386,258 5,030,738 6,045,600 Residential 1,610,286 1,381,597 1,295,107 Cogeneration 637,489 389,732 437,327 Automotive 364,664 220,130 350,637 Commercial 448,615 350,760 507,550 Construction revenue 1,020,176 885,630 813,341 Other 242,226 59,104 64,660 11,709,714 8,317,691 9,514,222 Electricity trading 620,495 775,479 — 12,330,209 9,093,170 9,514,222 Moove Finished goods 5,088,102 3,891,551 3,786,636 Base oil 457,991 392,153 194,353 Services 566,364 131,871 65,307 6,112,457 4,415,575 4,046,296 Logistics North operations 5,479,583 5,270,436 5,313,757 South operations 1,624,084 1,409,872 1,478,314 Container operations 335,965 285,851 295,769 7,439,632 6,966,159 7,087,840 Cosan Investments Land leases 31,502 — — 31,502 — — Reconciliation Cosan Corporate 8,292 818 98 Deconsolidated effects and eliminations (175,104,361 ) (118,087,609 ) (129,386,510 ) Total 25,865,001 20,437,835 20,611,409 (i) On June 1, 2021, Raízen S.A. started to consolidate Raízen Energia and, therefore, the balances between the entities are presented net. 5.2 Information on geographical area Net sales Non-current assets December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 Brazil 22,529,634 18,100,012 18,522,108 12,551,261 12,577,376 Europe (i) 2,551,739 1,867,284 1,719,262 10,515 11,401 Latin America (ii) 632,235 360,798 184,981 6,320 24,684 North America 81,384 62,760 157,665 — — Asia and other 70,009 46,981 27,393 — — Total 25,865,001 20,437,835 20,611,409 12,568,096 12,613,461 Main countries: (i) England, France, Spain and Portugal; and (ii) Argentina, Bolívia, Uruguay and Paraguay. 5.3. 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 from Rumo's six R$ |
Financial assets and liabilitie
Financial assets and liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Financial assets and liabilities | |
Financial assets and liabilities | 6.11. Recognized fair value measurements Accounting policy When the fair value of financial assets and liabilities cannot be derived from active markets, their fair value is determined using valuation techniques including the discounted cash flow model. The inputs to these models are taken from observable markets where possible, but when this is not feasible, a degree of judgment is required in determining fair values. Judgment is required in the determination of inputs such as liquidity risk, credit risk and volatility. Changes in these variables could affect the reported fair value of financial instruments. Specific valuation techniques used to value financial instruments include: All resulting fair value estimates are included in level 2, when fair values have been determined based on present values and the discount rates used have been adjusted for counterparty or own credit risk. The Company has an established control framework with respect to the measurement of fair values. This includes a valuation team that has overall responsibility for overseeing all significant fair value measurements, including Level 3 fair values, and reports directly to the Board. The Company regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the treasury assesses the evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of Company’s policy, including the level in the fair value hierarchy in which the valuations should be classified. Significant valuation issues are reported to the Board. When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows. • Level : inputs represent unadjusted quoted prices for identical instruments traded in active markets. • Level : inputs include directly or indirectly observable inputs (other than Level 1 input) such as quoted prices for similar financial instruments exchanged in active markets, quoted prices for identical or similar financial instruments exchanged in inactive markets and other market observable inputs. The fair value of the majority of the Company’s investments in securities, derivative contracts and bonds. • Level : inputs for the asset or liability that are not based on observable market data (unobservable inputs). Management is required to use its own assumptions regarding unobservable inputs as there is little, if any, market activity in these instruments or related observable inputs that can be corroborated at the measurement date. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. Specific valuation techniques used to value financial instruments include: i. the use of quoted market prices ii. the fair value is calculated as the present value of the estimated future cash flows. Estimates of future floating-rate cash flows are based on quoted swap rates, futures prices and interbank borrowing rates. Estimated cash flows are discounted using a yield curve constructed from similar sources and which reflects the relevant benchmark interbank rate used by market participants for this purpose when pricing interest rate swaps. The fair value estimate is subject to a credit risk adjustment that reflects the credit risk of the Company and of the counterparty; this is calculated based on credit spreads derived from current credit default swap; and iii. for other financial instruments we analyze discounted cash flow. The market values of the Senior Notes are listed on the Luxembourg Stock Exchange (Note 6 .6 Company December 31, 2021 December 31, 2020 Senior notes 2023 Cosan Luxembourg S.A. 100.26% 101.02% Senior notes 2024 Rumo Luxembourg S.à r.l. — 104.17% Senior notes 2024 Cosan Limited — 103.22% Senior notes 2025 Rumo Luxembourg S.à r.l. 103.04% 105.96% Senior notes 2027 Cosan Luxembourg S.A. 103.79% 108.20% Senior notes 2028 Rumo Luxembourg S.à r.l. 103.42% 108.75% Senior notes 2029 Cosan S.A. 104.39% 110.05% Senior notes 2032 Rumo Luxembourg S.à r.l. 94.34% — Perpetual notes Cosan Luxembourg S.A. 102.17% 102.88% All of the resulting fair value estimates are included in level 2 except for a contingent consideration payable where the fair values have been determined based on present values and the discount rates used were adjusted for counterparty or own credit risk. 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, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Note Level 1 Level 2 Level 3 Level 1 Level 2 Assets Investment funds 6.1 8,103,713 2,155,446 8,103,713 — — 2,155,446 Marketable securities 6.2 4,388,007 3,669,109 4,388,007 — — 3,669,109 Other financial assets 320,193 69,126 320,193 — 69,126 — Investment properties 3,886,696 — — 3,886,696 — — Derivate financial instruments 6.10 4,732,926 8,140,700 4,732,926 — — 8,140,700 Total 21,431,535 14,034,381 17,544,839 3,886,696 69,126 13,965,255 Liabilities Loans, borrowings and debentures 6.6 (45,659,037 ) (42,249,460 ) ( ) (20,214,600 ) — (24,971,099 ) (18,855,850 ) Consideration payable — (224,787 ) — — — — (224,787 ) Derivative financial instruments 6.10 (1,076,161 ) (446,061 ) — (1,076,161 ) — — (446,061 ) Total (46,735,198 ) (42,920,308 ) ( 30,157.655 ) (21,290,761 ) — (24,971,099 ) (19,526,428 ) 6.12 Financial risk management This note explains the Company’s exposure to financial risks and how these risks could affect the group’s future financial performance. Current year profit and loss information has been included where relevant to add further context. Risk Exposure arising from Measurement Management Market risk – foreign exchange (i) Future commercial transactions. (ii) Recognized financial assets and liabilities not denominated in Brazilian . (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, and investment property (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. The Company’s Management identifies, evaluates and hedges financial risks in close co-operation with the Company’s operating units. The Board provides written principles for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments, and investment of excess liquidity. Where all relevant criteria are met, hedge accounting is applied to remove the accounting mismatch between the hedging instrument and the hedged item. This will effectively result in recognizing interest expense at a fixed interest rate for the hedged floating rate loans and inventory at the fixed foreign currency rate for the hedged purchases. The Company may opt for the formal designation of new debt operations for which it has swap-type derivative financial instruments for exchange variation and interest, as measured at fair value. The option for fair value (“Fair Value Option”) is intended to eliminate or inconsistencies in the result arising from differences between the measurement credits of certain liabilities and their hedging instruments. Thus, both the swaps and the respective debts are now measured at fair value. Such option is irrevocable and must only be made in the initial accounting record of the operation.The Company’s policy is to maintain capital base to promote the confidence of investors, creditors and the market, and to ensure the future development of the business. Management monitors that the return on capital is adequate for each of its businesses. The usage of financial instruments in order to protect against these areas of volatility is determined through an analysis of the risk exposure that management intends to cover. 6.5 Related parties Accounting policy Commercial operations, involving related parties, are carried out at normal market prices. Financial and corporate transactions are carried out in accordance with the contracts established between the parties. Outstanding balances at year end are not guaranteed, are not subject to interest and are settled in cash. There were no guarantees given or received on any accounts receivable or payable involving related parties. At the end of each period, an analysis of the recovery of amounts and receivables is carried out and for the years ended December 31, 2021 and 2020 no provision was recognize d. Balances and transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note. a) Summary of balances with related parties December 31, 2021 December 31, 2020 Current assets Corporate / agreement operations Raízen Energia S.A. (i) 38,710 73,913 Termag - Terminal Marítimo de Guarujá S.A. 14,286 — Aguassanta Participações S.A. 2,956 837 Raízen S.A. (i) 15,489 11,171 Other 361 17,171 71,802 103,092 Financial operations Raízen Energia S.A. (i) 8,933 — Raízen S.A. (i) 45 — Rio Minas Mineração S.A. 17,500 — Aguassanta Participações S.A. (ii) — 576,957 26,478 576,957 Total current assets 92,280 680,049 Non-current assets Corporate / agreement operations Raízen S.A. (i) 47,732 45,895 Termag - Terminal Marítimo de Guarujá S.A. 64,286 — Other — 48,571 112,018 94,466 Preferred shares Raízen Energia S.A. (i) 205,958 155,175 Other 235 — 206,193 155,175 Total non-current assets 318,211 249,641 Total assets 416,491 929,690 Current liabilities Corporate / agreement operations Raízen Energia S.A. (i) 50,289 146,722 Raízen S.A. (i) 171,084 154,366 Other 6,365 1,158 227,738 302,246 Financial operations Raízen S.A. (i) 11,959 — Raízen Energia S.A. (i) 47,912 4,834 59,871 4,834 Total liabilities 287,609 307,080 (i) Current and non-current assets receivable from and S.A. are, primarily, tax credits which will be reimbursed to the Company when realized. The preferred shares are used to reimburse , with preferential dividends, when the net operating loss is consumed in . Current liabilities represent reimburse to and related to expenses regarding legal disputes and other liabilities, generated before the formation of joint ventures, which are responsibility of S.A. (ii) On December 11, 2020, the Company disposed of 13,021,744 shares that were held in treasury to S.A. (“ ”) paid on January 8, 2021. b) Related party transactions December 31, 2021 December 31, 2020 December 31, 2019 Revenue Raízen International Universal Corporation — 5,143 — Raízen Energia 469,053 483,934 298,980 Raízen S.A. 210,447 186,359 221,369 Other — 268 7,010 679,500 675,704 527,359 Purchase of goods / inputs / services Raízen Energia (32,153 ) (6,160 ) (7,010 ) Raízen S.A. (1,543,917 ) (1,130,531 ) (1,240,781 ) Other — (939 ) — (1,576,070 ) (1,137,630 ) (1,247,791 ) Shared expense Raízen Energia (73,831 ) (81,018 ) (71,978 ) (73,831 ) (81,018 ) (71,978 ) Financial result Usina Santa Luiza S.A. — — (41 ) Raízen Energia 139 4 — Raízen S.A. 4,798 6,341 5,729 Other — 47 (5 ) 4,937 6,392 5,683 Total (965,464 ) (536,552 ) (786,727 ) 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 as follows: December 31, 2021 December 31, 2020 December 31, 2019 Short-term benefits to officers and directors 177,405 102,250 88,440 Share-based payment transactions 68,209 15,441 16,823 Long-term benefits to officers and directors 5,863 — — Post-employment benefits 750 1,045 728 252,227 118,736 105,991 6.6 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: i. the amount of the obligation under the contract; and ii. 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: Description Index Annual interest rate December 31, 2021 December 31, 2020 Maturity Objective Secured BNDES URTJLP 7.49% 2,598,623 3,321,839 Dec-2029 Investment Fixed 5.69% 461,756 647,435 Jan-2025 Investment IPCA 7.46% — 796 Nov-2021 Investment IPCA 11.08% 646,624 — Jan-2048 Investment Fixed 3.50% 727 1,077 Jan-2024 Investment URTJLP 10.34% — 396 Mar-2022 Investment IPCA + 3.25 13.60% 945,663 807,438 Apr-2029 Investment IPCA + 4.10 14.53% 154,843 175,374 Apr-2029 Investment Export credit agreement Euribor + 0.58 0.58% 95,460 104,108 Sep- 2026 Investment CDI + 1.03 10.79% 86,707 — Feb-2023 Investment CDI + 2.25 12.28% 60,700 — May-2026 Investment CDI + 0.80 10.02% 515,928 — Dec-2023 Investment Resolution 4,131 U.S.$ 0.90% 148,932 — Nov-2022 Working Capital Debentures CDI + 1.79 11.10% 753,770 — Jun-2027 Investment CDI + 1.30 10.57% 746,725 — Oct-2027 Investment IPCA + 4.77 15.27% 694,898 — Jun-2031 Investment European investment bank U.S.$ + Libor 6 0.54 0.80% — 30,817 May-2021 Investment U.S.$ + Libor 6 0.61 0.80% — 57,813 Sep- 2021 Investment 7,911,356 5,147,093 Unsecured Foreign loans GBP + Libor 6-month + 1.50% 1.68% — 143,039 Jul-2021 Working capital GBP | Fixed 1.40% 37,674 35,556 Nov-2022 Working capital GBP + Libor 6 1.10 1.17% — 142,091 Dec-2021 Acquisition GBP + Libor 6 1.50 1.92% 263,501 248,666 Dec-2022 Acquisition EUR | Fixed 4.42% 857 2,095 Sep- 2022 Investment GBP | Fixed 1.90% 150,649 — Dec-2023 Investment Export credit notes CDI + 1.03 3.12% — 82,185 Feb-2023 Investment CDI + 0.80 2.72% — 505,061 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.$ | Fixed 1.60% — 483,625 Nov-2022 Working capital CDI 4.60% — 206,908 Apr-2021 Working capital U.S.$ + 3.67 3.67% 438,823 415,232 May-2023 Investment U.S.$ + 1.59 1.59% — 388,912 Apr-2021 Investment U.S.$ + 1.36 1.36% 414,378 — Feb-2024 Investment Banking credit certificates IPCA + 0.81 5.31% — 239,068 Jan-2048 Working capital Perpetual Notes U.S.$ 8.25% 2,825,420 2,631,100 Nov-2040 Acquisition Senior Notes Due 2023 U.S.$ | Fixed 5.00% 685,550 569,466 Mar-2023 Acquisition Senior Notes Due 2024 U.S.$ | Fixed 7.38% — 4,514,289 Feb-2024 Acquisition Senior Notes Due 2024 U.S.$ | Fixed 5.95% — 1,232,844 Sep- 2024 Acquisition Senior Notes Due 2025 (i) U.S.$ | Fixed 5.88% 2,981,335 3,067,359 Jan-2025 Acquisition Senior Notes Due 2027 U.S.$ | Fixed 7.00% 4,305,928 4,379,812 Jan-2027 Acquisition Senior Notes Due 2028 (ii) U.S.$ | Fixed 5.25% 2,700,621 2,640,840 Jan-2028 Acquisition Senior Notes Due 2029 U.S.$ | Fixed 5.50% 4,226,142 3,932,483 Sep- 2029 Acquisition Senior Notes Due 2032 (iii) U.S.$ | Fixed 4.20% 2,800,716 — Jan-2032 Acquisition Prepayment Libor 3 3.50 5.57% — 27,129 Mar-2021 Working capital Libor 3 1.00 1.59% 111,955 104,318 Nov-2021 Working capital 1.27 360 1.27% 166,355 — Jul-2023 Working capital Bank overdrafts 125.5 5.53% — 4,318 Jan-2020 Working capital Debentures IPCA + 4.68 15.17% 543,752 595,847 Feb-2026 Investment IPCA + 4.50 14.97% 1,483,873 739,202 Feb-2029 Investment IPCA + 3.60 11.53% 361,862 — Sep- 2020 Investment CDI + 2.65 12.04% 1,858,837 1,740,551 Aug-2025 Investment IPCA + 6.80 17.50% 891,972 803,745 Apr-2030 Investment IPCA + 3.90 14.31% 1,018,844 1,025,777 Oct-2029 Investment IPCA + 5.73 16.33% 505,584 — Oct-2033 Investment IPCA + 4.00 8.53% — 255,501 Oct-2029 Investment IPCA + 4.00 14.42% 952,671 — Dec-2035 Investment IPCA + 4.54 15.02% 126,668 — Jun-2036 Investment IPCA + 7.48 18.25% 165,478 299,524 Dec-2022 Investment IPCA + 7.36 18.12% 108,451 97,956 Dec-2025 Investment IPCA + 5.87 16.48% 873,474 890,658 Dec-2023 Investment IPCA + 4.33 14.79% 501,278 452,457 Oct-2024 Investment IGPM + 6.10 12.11% 352,235 298,706 May-2028 Investment CDI + 0.50 9.70% 2,033,161 2,007,848 Oct-2022 Investment CDI + 1.95 11.28% 717,651 — Aug-2024 Investment IPCA + 5,12 15.66% 484,974 — Aug-2031 Investment IPCA + 5,22 15.77% 477,578 — Aug-2036 Investment CDI + 1.65 7.90% 774,215 — Aug-2028 Working capital CDI + 2.00 11.33% 930,301 — Aug-2031 Working capital IPCA + 5.75 16.35% 374,761 — Aug-2031 Working capital Working capital CDI + 2.75 10.90% 100,157 100,045 Jun-2022 Working capital Promissory notes CDI + 3.00 12.33% — 601,058 Apr-2021 Investment CDI + 3.40 12.73% — 520,116 Apr-2021 Investment 37,747,681 37,102,367 Total 45,659,037 42,249,460 Current 4,241,368 4,929,069 Non-current 41,417,669 37,320,391 (i) On January 18, 2022, Rumo redeemed its 5.875% senior notes due in 2025, in the amount of U.S.$500,000, equivalent to R$2,780,500 pursuant to the terms of the indenture governing the notes. Sustainability-linked bonds (ii) On July 10, 2020, completed an offering of 5.250% senior notes due 2028 in an aggregate principal amount of U.S.$500,000. The proceeds of this offering were used to finance certain green projects including the replacement or locomotives and rolling stock, infrastructure to double lines, new yards and extension of yards, and railway modernization. (iii) On September 22, 2021, completed an offering of 4.200% sustainability-linked notes due 2032 in an aggregate principal amount of U.S.$500,000. The proceeds of this offering were used for general corporate purposes, including repayment of indebtedness. Rumo’s From and including July 18, 2027, the interest rate payable on the notes shall be increased by 25 4.450 The Company used the annual average rate of the CDI of % and Long-term Interest Rate (Taxa de de Longo ), or “TJLP,” of %. Non-current borrowings are scheduled to fall due as follows: December 31, 2021 December 31, 2020 13 to 24 months 4,339,743 3,759,874 25 to 36 months 2,968,458 3,667,857 37 to 48 months 4,029,690 7,480,137 49 to 60 months 984,015 4,298,007 61 to 72 months 6,902,914 640,000 73 to 84 months 4,701,952 5,427,729 85 to 96 months 6,595,854 4,023,694 Thereafter 10,895,043 8,023,093 41,417,669 37,320,391 The carrying amounts of loans, borrowings and debentures are denominated in the following currencies: December 31, 2021 December 31, 2020 Brazilian reais 23,304,742 17,022,405 U.S. dollar 21,806,154 24,551,500 British pound 451,824 569,352 Euro 96,317 106,203 45,659,037 42,249,460 All debts denominated in U.S. dollar have currency risk protection through derivative financial instruments (Note 6 .10 Fair value hedge Currently the Company has adopted the hedge accounting of fair value for some its operations. Both the hedging instruments and the hedged items are measured and recognized at fair value through profit or loss. There is an economic relationship between the hedged item and the hedge instrument, since the terms of the interest rate and foreign exchange swap correspond to the terms of the fixed rate loan, that is, notional amount, term and payment. The Company established a 1:1 hedge ratio for hedge relationships, since the underlying risk of the interest rate and exchange rate swap is identical to the hedged risk component. To test the effectiveness of the hedge, the Company uses the discounted cash flow method and compares the changes in the fair value of the hedge instrument with the changes in the fair value of the hedged item attributable to the hedged risk. The sources of hedge ineffectiveness that are expected to affect the hedging relationship during its term evaluated by the Company are mainly: (i) reduction or modification of the hedged item; and (ii) a change in the credit risk of the Company or the counterparty of the contracted swaps. The amounts related to the items designated as hedge instruments were as following: Book value Accumulated fair value adjustment December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Notional Exchange rate hedge Designated items Senior notes 2024 (Rumo Luxembourg) — — (4,514,289 ) — (959,017 ) Senior notes 2025 (Rumo Luxembourg) 1,740,550 — (3,067,359 ) 355,409 (779,581 ) Senior notes 2028 (Rumo Luxembourg) 2,791,600 (2,700,621 ) — 108,756 — Senior notes 2032 (Rumo Luxembourg) 2,758,400 (2,938,939 ) — (14,775 ) — Senior notes 2024 (Cosan Limited) — — (1,232,844 ) — (18,357 ) Debt 7,290,550 (5,639,560 ) (8,814,492 ) 449,390 (1,756,955 ) Derivative financial instruments Senior swaps notes 2024 (Rumo Luxembourg) — — 2,118,028 — 1,021,045 Senior swaps notes 2025 (Rumo Luxembourg) — — 1,341,379 (120,326 ) 825,015 Senior swaps notes 2028 (Rumo Luxembourg) (2,791,600 ) 266,526 — 277,542 — Senior swaps notes 2032 (Rumo Luxembourg) (2,259,375 ) 675,572 — 675,572 — Senior swaps notes 2024 (Cosan Limited) — — 463,502 — (78,913 ) Derivative (5,050,975 ) 942,098 3,922,909 832,788 1,767,147 Total 2,239,575 (4,697,462 ) (4,891,583 ) 1,282,178 10,192 Book value Accumulated fair value adjustment Notional December 31, 2021 December 31, 2020 December 31, 2021 December 31, 20 Interest rate hedge Debenture 3 rd rd — — — — 575 Debenture 5 th 684,501 (873,474 ) (890,658 ) 17,184 (22,040 ) Debenture 9 th 500,000 (484,974 ) — (484,974 ) — Debenture 9 th 500,000 (477,578 ) — (477,578 ) — BNDES Project VIII (i) 1,000,000 (921,949 ) — (921,949 ) — Debenture (Rumo) 5,530,408 (5,359,574 ) (1,281,278 ) 149,491 (239,437 ) Senior notes 2023 (Cosan Luxembourg) — — (569,466 ) (188,083 ) (237,050 ) Debt 8,214,909 (8,117,549 ) (2,741,402 ) (1,905,909 ) (497,952 ) Derivative financial instruments Debenture 3 rd rd — — — — 862 Debenture 5 th (684,501 ) (189,928 ) 211,741 (401,669 ) 10,731 Debenture 9 th (500,000 ) 5,776 — 5,776 — Debenture 9 th (500,000 ) 12,939 — 12,939 — BNDES Project VIII (i) (1,000,000 ) 51,220 — 51,220 — Debenture (Rumo) (5,556,236 ) (75,806 ) 176,693 (196,959 ) 183,595 Senior swaps notes 2023 (Cosan Luxembourg) — — 392,899 10,057 (42,532 ) Derivative (8,240,737 ) (195,799 ) 781,333 (518,636 ) 152,656 Total (25,828 ) (8,313,348 ) (1,960,069 ) (2,424,545 ) (345,296 ) (i) In the subsidiary Comgás, the exposure of the BNDES Project VIII debt is substantially protected by the hedge contracted in July 2021, with a portion of less than 3% not protected and for practical purposes its segregation at amortized cost becomes irrelevant. Fair value option Certain derivative instruments have not been linked to documented hedge structures. The Company chose to designate the protected liabilities (hedge objects) to record at fair value through profit or loss. Book value Accumulated fair value adjustment Notional December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Exchange rate Objects Senior Notes 2027 US$+ 7.0 (3,627,325 ) (4,305,928 ) (4,379,812 ) 313,052 (349,181 ) Export Credit Agreement EUR + 0.58 (100,198 ) (95,460 ) — (1,337 ) — Resolution 4,131 (Rumo) US$ + 2.20 (220,000 ) (148,932 ) — 4,412 — EIB 3ª Tranche US$ + LIBOR 6 0.54 — — (30,817 ) — 156 EIB 4ª Tranche US$ + LIBOR 6 0.61 — — (57,813 ) — 308 Resolution 4,131 (Comgás - 2018) US$ + 3.67 (268,125 ) (438,823 ) (415,232 ) (18,230 ) (24,247 ) Resolution 4,131 (Comgás - 2020) US$ + 1.59 — — (388,912 ) — 1,967 Resolution 4,131 (Comgás - 2021) US$ + 1.36 (407,250 ) (414,378 ) — 5,526 — Total (4,622,898 ) (5,403,521 ) (5,272,586 ) 303,423 (370,997 ) Derivative instruments Swap Notes 2027 R$ + 126.85 3,627,325 2,047,237 2,272,648 45,181 1,320,629 Inflation and interest rate swaps R$ 107 100,198 30,535 — (3,096 ) — Inflation and interest rate swaps R$ 118 220,000 47,527 — 20,019 — EIB 3 rd R$ 88.5 — — 21,176 844 24,927 EIB 4 th R$ 81.1 — — 39,256 2,583 26,219 Resolution 4,131 (Comgás - 2018) R$ 107.9 268,125 168,358 154,627 20,794 117,080 Resolution 4,131 (Comgás - 2020) R$ 2.75 — — (6,214 ) 15,711 (12,904 ) Resolution 4,131 (Comgás - 2021) R$ 1.25 407,250 (514 ) — (6,628 ) — Derivative total 4,622,898 2,293,143 2,481,493 95,408 1,475,951 Total — (3,110,378 ) (2,791,093 ) 398,831 1,104,954 Book value Accumulated fair value adjustment Notional December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Interest rate Objects Debenture (Rumo) IPCA + 4,68 (500,000 ) (543,752 ) — 82,474 — Debenture (Rumo) IPCA + 4,50 (600,000 ) (676,798 ) — 131,153 — Total (1,100,000 ) (1,220,550 ) — 213,627 — Derivative instruments Foreign exchange and interest swap 107 500,000 71,375 — (11,682 ) — Foreign exchange 105 600,000 82,344 — (41,468 ) — Derivative total 1,100,000 153,719 — (53,150 ) — Total — (1,066,831 ) — 160,477 — a) Market risk The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return. The Company uses derivatives to manage market risks. All such transactions are carried out within the guidelines set by the risk management committee. Generally, the Company seeks to apply hedge accounting to manage volatility in profit or loss. Foreign exchange risk Net exposure to the exchange rate variations on assets and liabilities denominated in U.S. dollar, British pound and Euro: December 31, 2021 December 31, 2020 Cash and cash equivalents 3,811,598 2,995,284 Trade receivables 93,326 24,619 Trade payables (4,721 ) (229,750 ) Loans, borrowings and debentures (19,640,300 ) (25,227,055 ) Leases (108,365 ) (99,217 ) Contingent consideration (234,960 ) (224,787 ) Derivative financial instruments 21,105,358 17,981,375 Foreign exchange exposure, net 5,021,936 (4,779,531 ) The sensitivity of profit or loss to changes in the exchange rates arises mainly from U.S. dollar denominated financial instruments and the impact on other components of equity arises from foreign forward exchange contracts designated as cash flow hedges. A reasonably possible strengthening (weakening) of the Brazilian reais Variation scenario Instrument Risk factor Probable 25% 50% (25)% (50)% Cash and cash equivalents Currency fluctuation 81,621 1,054,926 2,028,231 (891,684 ) (1,864,989 ) Trade receivables Currency fluctuation 76,502 100,347 124,191 52,658 28,813 Trade payables Currency fluctuation (1,414 ) (926 ) (438 ) (1,902 ) (2,389) Derivative financial instruments Currency fluctuation 2,457,838 3,676,786 6,946,953 (2,863,548 ) (6,133,715 ) Loans, borrowings and debentures Currency fluctuation (424,712 ) (7,017,875) (13,489,738) 5,925,849 12,397,712 Leases Currency fluctuation (2,321 ) (29,992 ) (57,663 ) 23,351 53,022 Contingent consideration Currency fluctuation 239,993 299,991 359,989 179,995 119,997 Impacts on profit or loss 2,427,507 (1,916,743 ) (4,088,475 ) 2,424,719 4,598,451 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$/€) December 31, 2021 Scenario Probable 25% 50% (25)% (50)% U.S.$ 5.5805 5.7000 7.1250 8.5500 4.2750 2.8500 € 6.3210 6.5550 8.1938 9.8325 4.9163 3.2775 £ 7.5242 7.9230 9.9038 11.8845 5.9423 3.9615 Interest rate risk The Company and its subsidiaries monitor the fluctuations in variable interest rates in connection with its borrowings and uses derivative instruments in order to minimize variable interest rate fluctuation risks. A sensitivity analysis on the interest rates on loans and borrowings in compensation for the CDI investments with pre-tax increases and decreases of 25% and 50% is presented below: Variation scenario Exposure interest rate Probable 25% 50% (25)% (50)% Cash and cash equivalents 1,623,771 1,995,927 2,385,014 1,423,642 1,116,070 Marketable securities 487,145 598,464 714,627 430,749 340,218 Lease and concession in installments (121,902 ) (152,377 ) (182,853) (91,426 ) (60,951 ) Leases (371,433 ) (371,433 ) (371,433 ) (371,433 ) (371,433 ) Derivative financial instruments 1,327,786 (1,365,311 ) (2,073,012 ) 223,066 1,124,171 Loans, borrowings and debentures (2,244,669 ) (2,760,945 ) (3,184,050 ) (1,914,734 ) (1,491,629 ) Other financial liabilities (71,996 ) (88,073 ) (104,151 ) (55,918 ) (39,840 ) Impacts on profit or loss 628,702 (2,143,748 ) (2,815,858 ) (356,054 ) 616,606 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 11.15% 13.94% 16.73% 8.36% 5.58% CDI 11.15% 13.94% 16.73% 8.36% 5.58% TJLP462 (TJLP + 1% p.a.) 7.60% 9.25% 10.90% 5.95% 4.30% TJLP 6.60% 8.25% 9.90% 4.95% 3.30% IPCA 4.61% 5.76% 6.91% 3.46% 2.30% IGPM 5.19% 6.48% 7.78% 3.89% 2.59% Libor 1.16% 1.45% 1.74% 0.87% 0.58% Fed Funds 0.90% 1.13% 1.35% 0.68% 0.45% Price risk Financial position and unrealized gains on electricity trading operations, net Electricity trading operations are carried out in an active market and recognized at fair value through profit or loss, based on the difference between the contracted price and the market price of open contracts at the reporting date. This fair value is estimated mainly based on the price quotations used in the active over-the-counter market, insofar as such observable market data exist, and, to a lesser extent, by the use of valuation techniques that consider prices established in operations of purchase and sale and market prices estimated by specialized entities, when such information is available. Statement of financial position balances referring to outstanding energy trading operations are as follows: December 31, 2021 December 31, 2020 Assets Liabilities Net gain Assets Liabilities Net gain Electricity trading 69,576 (317,699 ) (248,123 ) 96,595 (268,018 ) (189,018 ) The main risk factor that impacts the pricing of energy trading operations is the exposure to market energy prices. The scenarios for sensitivity analysis considering this factor are prepared using market data and specialized sources, considering future prices, applied to the market curves as of December 31, 2021, as follows: Variation scenario Probable 25% 50% (25)% (50)% Unrealized loss from electricity trading (248,123 ) (244,212 ) (240,302 ) (252,034 ) (255,942 ) The projection of settlement of positions, at nominal value, follows the schedule below: 2022 2023 2024 Above 2025 Positions to be settled (248,115 ) (13,822 ) 1,093 12,721 b) Credit risk The Company’s regular operations expose it to potential defaults when customers, suppliers and counterparties are unable to comply with their financial or other commitments. The Company seeks to mitigate this risk by entering into transactions with a diverse pool of counterparties. However, the Company continues to remain subject to unexpected third-party financial failures that could disrupt its operations. The exposure to credit risk was as follows: December 31, 2021 December 31, 2020 Cash and cash equivalents 16,174,130 13,642,918 Trade receivables 2,745,853 2,033,441 Marketable securities 4,388,007 3,669, |
Other tax receivables
Other tax receivables | 12 Months Ended |
Dec. 31, 2021 | |
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Other tax receivables | 7 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, 2021 December 31, 2020 COFINS - Revenue tax (iii) 1,333,868 625,174 ICMS – State VAT (i) 873,203 754,749 ICMS CIAP – State VAT (ii) 106,250 124,006 PIS - Revenue tax (iii) 299,610 136,765 Credit installment 42,932 42,138 Other 145,304 60,206 2,801,167 1,743,038 Current 921,472 785,367 Non-current 1,879,695 957,671 (i) ICMS credit related to the purchase of materials and diesel used in rail transportation. (ii) ICMS credit arising from acquisitions of property, plant and equipment. (iii) At the subsidiary , on March 15, 2017, the Federal Supreme Court ( tribunal Federal or “STF”) concluded the judgment of Extraordinary Appeal No. 574,706 and, under the general repercussion system, established the thesis that the ( ICMS tax should not be included in the calculation basis of the Social Integration Program tax ( de ;Social or “PIS”) and the Contribution to Social Security Financing tax ( para o da Social or “COFINS”), since such amount does not constitute the Company's revenue. That is, taxpayers have the right to exclude the amount related to ICMS highlighted in the invoice from the PIS and COFINS calculation basis. In 2018, the subsidiary Comgás recognized the credits for the periods after March 2017 based on the decision given at that date by the Supreme Court, maintaining as contingent asset values arising from the action, not yet judged definitively, which went back to July 2008. At the subsidiary Comgás, on May 13, 2021, the STF concludes the judgment on the modulation of the effects of the decision that excluded ICMS from the PIS and COFINS calculation basis (RE 574,706), as well as confirmed that the ICMS to be considered in the matter is the highlighted, not collected. According to the modulation, the effects of the exclusion are valid from March 15, 2017 – the date on which the ministers decided on the merits in the Plenary of the Court. In the case of Comgás, since its original claim dates from July 2013, in accordance with the legal form of the modulation of the effects, the right to recover the undue amount until July 2008. In this way, all relevant circumstances and, up to then, pending on the subject were overcome and, therefore, from the point of view of IAS 37 , the amounts related to the claim were no longer classified as contingent assets, since their existence was confirmed, and their realization is practically certain. Therefore, in June 2021, the Company recorded, an amount of R$957,663 (R$573,462 principal and R$382,201 monetary restatement), updated on December 31, 2021, total R$956,338 (R$563,175 principal and R$393,213 monetary restatement), related to PIS and COFINS credits in its non-current assets, which includes monetary restatement at the SELIC rate. In August 2021, the final and unappealable decision of the individual action filed by the subsidiary Comgás on the subject in 2013 was certified. Eventually, be considered as a component of tariff adjustment within the scope of the economic and financial balance of the concession contract, and such interpretation gained greater clarity after the modulation of the effects by the STF in the judgment of May 13, 2021. Therefore, of the total amount of credits recognized up to December 31, 2021, the subsidiary Comgás also recorded a provision in the amount of R$638,975 (R$375,565 principal and R$263,410 monetary restatement), equivalent to the uncertain portion, in its Sectoral Liabilities item, in non-current liabilities (Note 6 .9 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2021 | |
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Inventories | 8 Accounting policy Inventories are stated at the lower of cost and net realizable value (it is the estimated selling price in the normal course of business, less estimated completion costs and estimated costs necessary to make the sale). The cost of finished and under construction products comprises direct materials, direct labor and an adequate proportion of variable and fixed overheads, the latter being allocated based on normal operational capacity. Costs are assigned to individual inventory items based on weighted average costs. The provision for obsolete inventories is made for the risks associated with the realization and sale of inventories due to obsolescence and measured at the net realizable value or the cost, whichever is less. December 31, 2021 December 31, 2020 Finished goods 814,320 560,028 Spare parts and accessories 180,286 219,831 Raw material 126,889 118,319 Warehouse and other 27,809 30,279 Fuels and lubricants — 6,807 1,149,304 935,264 The balances are presented net of the provision for obsolete inventories in the amount of R$ 26,841 on December 31, 2021 (R$ 17,449 on December 31, 2020). |
Investments in associates
Investments in associates | 12 Months Ended |
Dec. 31, 2021 | |
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Investments in associates | 9. Investments in associates 9.1 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, 2021 December 31, 2020 Directly owned subsidiaries Cosan Logística S.A. (iii) — 73.48% Cosan S.A. (iii) — 66.74% Cosan Limited Partners Brasil Consultoria Ltda (iii) 97.50% 60.00% Sinlog Tecnologia em Logística S.A. (iii) 72.25% 64.52% Compass Gás e Energia (i) 88.00% 99.01% 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% 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% Atlântico Participações Ltda. 100.00% — Payly Soluções de Pagamentos S.A. 75.00% 75.00% Rumo S.A. (ii) 30.35% 30.35% Violeta Fundo de Investimento Multimercado 100.00% — Interest of Compass Gás e Energia in its subsidiaries Companhia de Gás de São Paulo - Comgás 99.15% — Compass Comercialização S.A. 100.00% — Compass Energia Ltda 100.00% — Terminal de Regaseificação de São Paulo - TRSP 100.00% — Rota 4 Participações S.A. 100.00% — Edge II - Empresa de Geração de Energia 100.00% — 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% Techniques ET Technologies Appliquees SAS - TTA (iv) 100.00% 75.00% Cosan Lubrificantes S.R.L. 98.00% 98.00% LubrigrupoII– Comércio e Distribuição de Lubrificantes S.A. 100.00% 100.00% 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 Rumo S.A. in its subsidiaries (iii) Rumo Malha Oeste S.A. 100.00% 28.47 % Rumo Malha Paulista S.A. 100.00% 28.47 % Rumo Malha Sul S.A. 100.00% 28.47 % Rumo Malha Norte S.A. 99.74% 28.40 % Rumo Malha Central S.A. 100.00% 28.47 % Elevações Portuárias S.A. 100.00% 28.47 % Logispot Armazéns Gerais S.A. 51.00% 14.52 % Rumo Luxembourg S.à r.l. 100.00% 28.47 % Rumo Intermodal S.A. 100.00% 28.47 % Boswells S.A. 100.00% 28.47 % ALL Argentina S.A. 100.00% 28.47 % Paranaguá S.A. 99.90% 28.47 % ALL Armazéns Gerais Ltda. 100.00% 28.47 % Portofer Ltda. 100.00% 28.47 % ALL Mesopotâmica S.A. 70.56% 20.09 % ALL Central S.A. 73.55% 20.94 % Servicios de Inversión Logística Integrales S.A. 100.00% 28.47 % Brado Logística e Participações S.A. 77.65% 17.71 % Brado Logística S.A. 77.65% 17.71 % Interest of Violeta Fundo de Investimento Multimercado in its subsidiaries Verde Pinho Fundo de Investimento em Participações 100.00% — Radar Propriedades Agrícolas S.A. 50.00% — Radar II Propriedades Agrícolas S.A. 50.00% — Nova Agrícola Ponte Alta S.A. 50.00% — Nova Amaralina S.A Propriedades Agrícolas 50.00% — Nova Santa Bárbara Agrícola S.A. 50.00% — Terras da Ponta Alta S.A. 50.00% — Castanheira Propriedades Agrícolas S.A. 50.00% — Manacá Propriedades Agrícolas S.A. 50.00% — Paineira Propriedades Agrícolas S.A. 50.00% — (i) As describe in Note 2, the subsidiary Compass Gás e Energia, , entered into Investment Agreements that resulted in the dilution of the Company's interest. As of December 31, 2021, contributions were made to Compass for a total amount of R$ 2,250,015 . The agreement signed with Atmos has a clause that grants Atmos the option to sell its shares in Compass and the Company is committed to pay any difference between Atmos selling price and the base price determined in the agreement. On December 31, 2021, the option hadno value since Compass' valuation exceeds the base price determined in the contract. (ii) Management has concluded that there are no material uncertainties that cast doubt on the continuity of the subsidiary. Despite presenting on December 31, 2021, the amount with an unsecured liability of R$ 356,442 , as shown below, no events or conditions were identified that, individually or collectively, could raise significant doubts as to the ability to maintain their continuity operational. The subsidiaries have the financial support of the Company. (iii) (iv) In August 2021, Moove Lubricants Limited acquired 25 32,030 Set out below are the associates as of December 31, 2021, which are material to the Company: Shares issued by the associate Shares held by Cosan Cosan ownership interest Economic benefit (%) Tellus Brasil Participações S.A. 120,920,515 61,359,623 50.74% 5.00% Janus Brasil Participações S.A. 229,689,888 116,620,166 50.77% 5.00% Rhall Terminais Ltda 28,580 8,574 30.00% 30.00% Termag - Terminal Marítimo de Guarujá S.A. 500,000 99,246 19.85% 19.85% TGG - Terminal de Granéis do Guarujá S.A. 79,747,000 7,914,609 9.92% 9.92% Terminal XXXIX S.A. 200,000 99,246 49.62% 49.62% TUP Porto São Luis S.A. 42,635,878 20,891,583 49.00% 49.00% At January 1, 2021 Interest in earnings of subsidiaries Other comprehensive income Dividends Capital increase Business Combination Other At December 31, 2021 Tellus Brasil Participações S.A. 105,665 39,938 — (2,805 ) — — — 142,798 Janus Brasil Participações S.A. 130,901 49,235 — (1,738 ) 4,959 — — 183,357 Radar Propriedades Agrícolas S.A. 62,371 (1,688 ) 1,060 (879 ) — (19,565 ) ( 41,299 ) — Radar II Propriedades Agrícolas S.A. 33,204 12,751 1,553 (1,854 ) — (45,659 ) 5 — Rhall Terminais Ltda 3,765 1,145 — (3 ) — — — 4,907 Termag - Terminal Marítimo de Guarujá S.A. 1,673 3,810 — — — — (758 ) 4,725 TGG - Terminal de Granéis do Guarujá S.A. 18,679 3,850 — (4,966 ) — — — 17,563 Terminal XXXIX S.A. 26,597 4,052 — — — — — 30,649 TUP Porto São Luis S.A. — 801 — — 393,579 — — 394,380 Other 996 16,331 5,243 (2,854 ) — (59,906 ) 41,878 1,688 383,851 130,225 7,856 (15,099 ) 398,538 (125,130 ) (174 ) 780,067 At January 1, 2020 Interest in earnings of subsidiaries Other comprehensive income Dividends Capital increase 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 ) — — 62,371 Radar II Propriedades Agrícolas S.A. 31,975 1,747 45 (563 ) — — 33,204 Other 57,443 9,068 (37 ) (8,187 ) 10 (6,587 ) 51,710 377,707 28,801 240 (17,452 ) 1,142 (6,587 ) 383,851 Financial information of associates: December 31, 2021 December 31, 2020 Assets Liabilities Shareholders’ equity Profit in the year Assets Liabilities Shareholders’ equity Profit in the year Tellus Brasil Participações Ltda 3,296,499 (502,734 ) 2,793,765 782,220 2,137,559 (136,375 ) 2,001,184 91,431 Janus Brasil Participações S.A. 4,261,432 (666,361 ) 3,595,071 1,048,514 2,632,321 (160,167 ) 2,472,154 97,652 Rhall Terminais Ltda 31,068 ( ) 16,360 4,073 — — — — Termag - Terminal Marítimo de Guarujá S.A. 276,284 ( ) 23,801 11,726 — — — — TGG - Terminal de Granéis do Guarujá S.A. 253,310 ( ) 177,053 37,150 — — — — Terminal XXXIX S.A. 335,511 ( ) 61,764 10,075 — — — — TUP Porto São Luis S.A. 455,437 (67,523 ) 387,914 (7,410 ) — — — — 9.2 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 the subsidiary Shares held by non-controlling shareholders Non-controlling interest Compass Gás e Energia 714,190,095 85,702,404 12.00% Comgás 132,520,587 1,139,210 0.86% Cosan Lubes 34,963,764 10,489,129 30.00% Payly Soluções de Pagamentos S.A. 78,527,201 19,631,324 25.00% Rumo S.A. 1,854,158,791 1,291,629,301 69.65% Cosan Limited Partners Brasil Consultoria Ltda 160,000 4,000 2.50% Sinlog Tecnologia em Logística S.A. 86,370 23,967 27.75% TTA – SAS Techniques et Technologie Appliquées (i) 10,521 - - Radar II Propriedades Agrícolas S.A. 81,440,221 40,720,111 50.00% Radar Propriedades Agrícolas S.A. 1,266,986 633,493 50.00% Nova Agrícola Ponte Alta S.A. 160,693,378 80,346,689 50.00% Terras da Ponte Alta S.A. 16,066,329 8,033,165 50.00% Nova Santa Bárbara Agrícola S.A. 32,336,994 16,168,497 50.00% Nova Amaralina S.A. 30,603,159 15,301,580 50.00% Paineira Propriedades Agrícolas S.A. 132,667,061 66,333,531 50.00% Manacá Propriedades Agrícolas S.A. 128,977,921 64,488,961 50.00% Castanheira Propriedades Agrícolas S.A. 83,850,838 41,925,419 50.00% 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 January 1, 2021 Interest in earnings of subsidiaries Sales or purchase of interests Other comprehensive income Dividends Capital increase (decrease) Other Predecessor adjustments At December 31, 2021 Cosan S.A. 3,492,829 69,890 — 115,049 — — (1,023 ) (3,448,693 ) — Cosan Logística 658,158 4,898 — 358 — — — (663,414 ) — Comgás 24,729 17,524 — 625 (14,184 ) — 228 — 28,466 Compass Gás e Energia 32,880 74,390 1,505,311 7,698 (97,187 ) 2,250,015 1,053 — 761,432 CLI 582,284 87,823 — 13,037 — — — — 683,144 Rumo 10,709,017 107,690 318,323 5,358 (27,989 ) — 15,748 2,570 10,494,071 Logispot Armazéns Gerais S.A. 35,513 2,225 — — (4,032 ) — — — 33,706 Radar — 22,502 — 900 (19,854 ) — 54 — 2,119,102 Other 23,374 2,622 11,918 1,013 (1,662 ) 2,291 363 351 9,164 15,558,784 384,320 1,835,552 88,086 (164,908 ) 2,252,306 (2,131,407 ) (4,109,186 ) 14,129,085 At January 1, 2020 Interest in earnings of subsidiaries Sales or purchase of interests Other comprehensive income Dividends Capital increase (decrease) Other At December 31, 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 Summarized statement of financial position: Compass Gás e Energia Comgás CLI Rumo Cosan Investimentos December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Current Assets 1,929,639 402,007 4,148,735 4,225,788 1,327,472 1,047,938 1,161,027 1,996,914 147,662 — Liabilities (28,374 ) (25,404 ) (4,538,385 ) (3,610,144 ) (755,995 ) (616,427 ) (760,522 ) (841,519 ) (50,038 ) — Net current assets 1,901,265 376,603 (389,650 ) 615,644 571,477 431,511 400,505 1,155,395 97,624 — Non-current Assets 4,453,679 2,944,593 8,122,763 6,391,096 1,946,181 1,893,901 21,568,088 19,624,672 4,337,142 — Liabilities (10,296 ) — (6,627,895 ) (6,416,687 ) (229,802 ) (360,077 ) (7,173,172 ) (5,796,462 ) (196,562 ) — Net non-current assets 4,443,383 2,944,593 1,494,868 (25,591 ) 1,716,379 1,533,824 14,394,916 13,828,210 4,140,580 — Equity 6,344,648 3,321,196 1,105,218 590,035 2,287,856 1,965,335 14,795,421 14,983,605 4,238,204 — Summarized statement of profit or loss and other comprehensive income: Compass Gás e Energia Comgás CLI December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 Net sales — — — 11,709,713 8,317,691 9,514,222 2,608,680 1,911,541 1,746,727 Profit before taxes 1,710,947 920,426 (2,614 ) 2,274,269 1,719,877 1,993,963 310,500 150,930 74,982 Income tax expenses 14,164 10,839 889 (155,148 ) (569,264 ) (626,784 ) (15,742 ) (1,484 ) (15,175 ) Profit (loss) for the year 1,725,111 931,265 (1,725 ) 2,119,121 1,150,613 1,367,179 294,758 149,446 59,807 Other comprehensive income (loss) — — — — — — — — — Total comprehensive income 1,725,111 931,265 (1,725 ) 2,119,121 1,150,613 1,367,179 294,758 149,446 59,807 Comprehensive income attributable to non-controlling interests 207,012 9,220 — 18,217 9,762 10,967 88,427 44,834 17,942 Dividends paid 982,752 600,000 — 1,649,653 1,135,669 2,010,101 — — — Rumo Cosan Investments December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 Net sales 772,714 950,269 596,415 31,502 — — Profit before taxes 198,239 349,300 779,228 49,218 — — Income tax expenses (47,701 ) (52,137 ) (991 ) (4,215 ) — — Profit (loss) for the year 150,538 297,163 778,237 45,003 — — Other comprehensive income (loss) — — 2,716 — — — Total comprehensive income 150,538 297,163 780,953 45,003 — — Comprehensive income attributable to non-controlling interests 104,850 212,561 558,616 22,502 — — Dividends paid — — 4,233 — — — Summarized statements of cash flows: Compass Gás e Energia Comgás CLI December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 Net cash (used in) from operating activities (44,974 ) (18,046 ) — 2,539,222 2,111,551 2,512,303 95,461 71,654 82,946 Net cash from (used in) investing activities (26,764 ) 776,872 — (1,025,104 ) (1,768,298 ) 202,037 77,742 (38,910 ) (10,140 ) Net cash (used in) from financing activities 1,265,679 (525,030 ) — (2,202,275 ) 198,890 (2,233,548 ) (13,766 ) 14,874 291,898 Net increase (decrease) in cash and cash equivalents 1,193,941 233,796 — (688,157 ) 542,143 480,792 159,437 47,618 364,704 Cash and cash equivalents at beginning of year 232,819 5 5 1,610,548 1,083,410 602,618 492,619 319,733 — Effect of exchange rate fluctuations on cash held (13,898 ) (982 ) — (30,741 ) (15,005 ) — 109,642 125,268 (44,971 ) Cash and cash equivalents at end of year 1,412,862 232,819 5 891,650 1,610,548 1,083,410 761,698 492,619 319,733 Rumo Cosan Investiments December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 Net cash (used in) from operating activities (15,679 ) 463,170 197,313 21,690 — — Net cash from (used in) investing activities (1,469,750 ) (6,632,353 ) (929,861 ) 49,227 — — Net cash (used in) from financing activities 714,115 7,037,144 1,432,659 (15,650 ) — — Net increase (decrease) in cash and cash equivalents (771,314 ) 867,961 700,111 55,267 — — Cash and cash equivalents at beginning of year 1,568,667 700,706 595 — — — Effect of exchange rate fluctuations on cash held (5,551 ) — — — — — Cash and cash equivalents at end of year 791,802 1,568,667 700,706 55,267 — — 9.3 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. For each business combination, the Company chooses to measure any non-controlling interests in the acquisition: i. at fair value; or Contingent consideration depends on whether an acquired business achieves goals within a fixed period. Estimates of future performance are required to calculate obligations at the time of acquisition and on each subsequent reporting date. In addition, estimates are necessary to assess the assets and liabilities acquired in business combinations. Intangible assets, such as brands, are commonly an essential part of an acquired business, as they allow us to obtain more value than would otherwise be possible. Measurement of fair values In measuring fair values, valuation techniques were used considering market prices for similar items, discounted cash flow, among others. 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 9.3.1. Acquisition of Radar Group On November 3, 2021, Cosan acquired a 47% equity interest in agricultural property management companies of the “Radar Group” (entities shown below), increasing an interest of 3% to 50%, as shown below: Acquired name Interest acquired Final interest Direct Indirect Radar Propriedades Agrícolas S.A. 38.94% 8.06% 50.00% Radar II Propriedades Agrícolas S.A. 47.00% - 50.00% Nova Agrícola Ponte Alta S.A. 38.94% 8.06% 50.00% Nova Amaralina S.A Propriedades Agrícolas 38.94% 8.06% 50.00% Nova Santa Bárbara Agrícola S.A. 38.94% 8.06% 50.00% Terras da Ponta Alta S.A. 38.94% 8.06% 50.00% Castanheira Propriedades Agrícolas S.A. 38.94% 8.06% 50.00% Manacá Propriedades Agrícolas S.A. 38.94% 8.06% 50.00% Paineira Propriedades Agrícolas S.A. 38.94% 8.06% 50.00% Pursuant to the Shareholders' Agreement, Cosan has the majority of votes in matters of the Executive Board, as well as the power to decide on the relevant activities of the companies of the Radar Group and, therefore, acquired control. The equity interest immediately prior to the acquisition in the Radar Group net assets carrying value was substantially at fair value on the acquisition date. The acquired companies are engaged in the land management business, with the capacity to invest in assets with high productive potential in Brazil. This acquisition is in line with the Company's capital allocation strategy, reinforcing the Company's commitment to the development of Brazilian agribusiness and the creation of value to its stakeholders. The acquisition price paid in cash totaled R$1,572,352, of which R$1,479,404 refers to the principal and R$92,948 to the adjustment of the installments by the IPCA. The consideration will be paid in 4 installments, with the first installment being paid on the of November 3, 2021, in the amount of R$601,856 and the other annual installments of R$295,881, adjusted by the IPCA, with final maturity in September 2024. The Company, through independent consultants, assessed the fair value of all assets acquired and liabilities assumed as of the acquisition date. On the acquisition date, the fair value of net assets acquired amounted to R$4,231,107. The non-controlling interest is shown below considering Mansilla's proportional interest in the acquiree's net assets fair value. Interest Shareholders' equity attributable to non-controlling interests Mansilla Participações Ltda. 50% 2,115,554 a) Identifiable assets acquired and liabilities assumed The fair value of the assets and liabilities acquired is shown below: Radar Group Cash and cash equivalents 9,123 Marketable securities 38,675 Accounts receivable from customers 194,715 Receivables from related parties 16,780 Taxes to recover 1,083 Other assets 1,099 Deferred income tax and social contribution 44 Judicial deposits 279 Other financial assets 318,445 Investment properties 3,875,752 Fixed assets 33 Right of use 3,240 Trade payable (992 ) Taxes payable (11,443 ) Related parts (2,504 ) Lease (3,281 ) Advance from customers (41 ) Other obligations (16,738 ) Deferred income tax and social contribution (192,883 ) Provision for contingencies (279 ) Total net identifiable assets at fair value 4,231,107 Since the acquisition date, the Radar Group contributed to the Company's revenues with R$31,502 and income before taxes of R$49,218. If the business combination had been completed at the beginning of the year, the Company's revenues would have totaled R$26,179,637, and the profit for the year would have been R$8,424,096. b) Gain on bargain purchase The fair value of the net assets acquired exceeded the consideration transferred, generating a gain on bargain purchase as follow: Consideration t 1,572,352 Non-controlling interest 2,115,554 Fair value of Radar's Group pre-existing interest 126,933 Total net identifiable assets at fair value (4,231,107 ) Gain on bargain purchase (416,268 ) 9.3.2 Acquisition of Compass Group On January 30, 2020, the Company completed the acquisition of 100% interest in the Compass Group as follows: 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 The Company, through its independent consultants, assessed whether the fair value of all assets and liabilities acquired 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. The fair value of the assets and liabilities acquired is as follows: Compass Comercializadora Compass Geração Compass Energia 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 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 Compass made an additional payment for the acquisition of Compass Trading in the amount of R$ 4,385 , as provided for in the agreement. The goodwill of R$94,892 comprises the value of future economic benefits arising from the acquisition. Had the acquisition of the Compass Group been completed on January 1, 2020, the Company's revenues would have been R$9,244,777 and net profit would have been R$934,817. |
Investments in joint ventures
Investments in joint ventures | 12 Months Ended |
Dec. 31, 2021 | |
Investments accounted for using equity method [abstract] | |
Investments in joint ventures | 10. Investment in joint venture Accounting policy A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. The Company’s investment in joint venture is stated in the statement of financial position at the Company’s share of net assets under the equity method of accounting, less any impairment losses. If applicable, adjustments are made to bring into line any dissimilar accounting policies that may exist. The Company’s share of the results and reserves of joint venture is included in the statement of profit or loss, other comprehensive income and changes in equity, respectively. Unrealized gains and losses resulting from transactions between the Company and its joint venture is eliminated to the extent of the Company investment in the joint venture, except where unrealized losses provide evidence of an impairment of the asset transferred. Goodwill arising from the acquisition of joint venture is included as part of the Company’s investment in joint venture and, when necessary, the entire carrying amount of the investment (including goodwill) is tested for impairment in accordance with IAS 36 Impairment of Assets as a single asset by comparing its recoverable amount (higher of value in use and fair value less costs of disposal) with it carrying amount. The Company’s investment in joint venture is treated as non-current assets and are stated at cost less any impairment losses. Changes to investment in joint venture were as follows: Before reorganization Raízen Combustíveis Raízen Energia Reorganization (note 2) Raízen S.A. Shares issued by the joint venture 1,661,418,472 7,243,283,198 1,447,807,814 10,352,509,484 Shares held by Cosan 830,709,236 3,621,641,599 105,246,282 4,557,597,117 Cosan ownership interest 50% 50% -6% 44.02% At January 1, 2020 3,212,601 4,336,359 — 7,548,960 Interest in earnings of joint ventures 332,240 250,761 — 583,001 Other comprehensive (losses) income 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 Interest in earnings of joint ventures (i) 448,124 (72,609 ) 4,215,116 4,590,631 Other comprehensive (losses) income 215,787 (491,548 ) (73,416 ) (349,177 ) Interest on capital (ii) (100,318 ) — (122,480 ) (222,798 ) Corporate reorganization (Note 2) — (3,204,832 ) 3,204,832 — Dividends (ii) (716,230 ) (371,713 ) 17,742 (1,070,201 ) At December 31, 2021 3,694,869 — 7,241,794 10,936,663 (i) As disclosed in Note 2 , the conclusion of Raízen's IPO and the acquisition of Biosev resulted in two capitalizations in Raízen's equity of R$ 6,599,987 and R$ 2,347,281 , respectively. Such capitalizations resulted in a dilution of Cosan S.A.'s interest in Raízen without the loss of shared control, keeping the investment classified as a joint venture. The following are the gains and losses recognized for the period: Reduction on previously held interest (896,817 ) Increase in investment due to cash contribution by non-controlling shareholders in the IPO 2,929,872 Exercise of subscription bonus - Hédera 1,043,347 Other comprehensive income * (82,243 ) Gain on dilution 2,994,159 Profit for the year under the equity method 1,596,472 Interest in earnings of joint venture 4,590,631 * Reclassification as part of the partial disposal. (ii) Proposed amount in the period, of which R$ 819,729 were paid. The statement of financial position and statement of profit or loss of the joint ventures are disclosed in Note 5 – Segment information. 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 thousand, unused on December 31, 2021. As of December 31, 2021, the Company was in compliance with the covenants of the contracts that govern the respective joint venture. |
Property, plant and equipment,
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets | 11. Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets Accounting policy 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-year period and carried forward in perpetuity without considering a real growth rate. Management uses periods greater than five years in the preparation of discounted cash flows considering that reflects the estimated time of use of the asset and business groups. 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 years for all subsidiaries, except for Logistics and Comgás that consider the remaining period of their concession contracts) and discount rates are used in our assessment of impairment of assets at the statement of financial position date. No reasonably plausible change to a key assumption would cause harm. The main assumptions used to determine the recoverable value of the different cash-generating units to which goodwill is allocated are explained below. 11.1 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% to 5% Machinery, equipment and facilities 8% to 11% Other 10% to 20% Railcars 2.9% to 6% Locomotives 3.3% to 8% Permanent easement 3% to 4% Furniture and fixtures 10% to 15% Computer equipment 20% Reconciliation of carrying amount: Land, buildings and improvements Machinery, equipment and facilities Railcars and locomotives (i) Permanent easement Construction in progress Other Total Cost At January 1, 2020 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 Business Combination (note 9.3) — — — — — 41 41 Additions 1,481 7,678 1,681 6,501 3,852,472 1,326 3,871,139 Disposals (81 ) (36,189 ) (123,980 ) (758 ) — (86,027 ) (247,035 ) Transfers (ii) 416,859 538,179 1,140,723 1,378,132 (3,412,132 ) 14,700 76,461 Effect of exchange rate fluctuations 5,662 7,712 — — 139 3,646 17,159 At December 31, 2021 2,001,165 1,974,614 7,738,889 8,755,001 3,244,653 441,742 24,156,064 Depreciation At January 1, 2020 (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 ) Additions (91,631 ) (202,154 ) (532,558 ) (550,969 ) — (30,472 ) (1,407,784 ) Disposals 3,922 35,165 112,362 196 — 82,574 234,219 Transfers (ii) (20,891 ) 21,190 59,284 (14,569 ) — (242 ) 44,772 Effect of exchange rate fluctuations (2,645 ) (4,331 ) — — — (1,949 ) (8,925 ) At December 31, 2021 (618,618 ) (882,542 ) (2,842,050 ) (3,115,641 ) (13,379 ) (35,281 ) (7,507,511 ) At December 31, 2020 1,069,871 724,822 4,239,327 4,820,827 2,790,795 422,864 14,068,506 At December 31, 2021 1,382,547 1,092,072 4,896,839 5,639,360 3,231,274 406,461 16,648,553 (i) On December 31, 2021, and 2020, wagons and locomotives in the amount of R$745,203 were pledged to guarantee bank loans. (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 The subsidiary Rumo capitalized during the year ended December 31, 2021, R$70,609 (R$ 34,107 on December 31, 2020) in construction in progress, at a weighted average rate of 11.81% p.a. (8.40% on December 31, 2020). The indirect subsidiary TRSP capitalized during the year ended December 31, 2021, R$7,512 in fixed assets, at a weighted average rate of 2.78% p.a. 11.2. 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) Other intangible assets that are acquired by the Company and have a short life are measured at cost, less accumulated amortization and any accumulated impairment losses. c) 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. Costs incurred with the customer portfolio and right-of-use and operating agreements are recognized as intangible assets and amortized over the term of the agreement. d) Comgás ’s c oncession 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 years—or whenever ARSESP deems the economic and financial balance of the concession agreement to be adversely affected due to the variation of costs incurred by Comgás—Comgás’s rates are reviewed by ARSESP, which directly affects Comgás’s margins and its results, either positively or negatively. 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 years; and (ii) the acquired or constructed assets underlying the concession necessary for the distribution of gas, which is being depreciated to match the period over which the future economic benefits of the asset are expected to accrue to the Company, or the final term of the concession, whatever occurs first. This period reflects the economic useful lives of each of the underlying assets that comprise the concession. This economic useful life is also used by the ARSESP to determine the basis for measuring the tariff for rendering the services under the concession. 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. f) 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. g) Amortization Except for goodwill, intangible assets are amortized on a straight-line basis over their estimated useful lives, from the date they are available for use or acquired. Amortization methods, useful lives and residual values are reviewed at each reporting date and adjusted, if appropriate. Goodwill Concession rights Operating license Trademarks Customer relationships Other Total Cost At January 1, 2020 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 Disposals 94,892 — — — — — 94,892 Transfers — (48,442 ) — — (131 ) (12,474 ) (61,047 ) Effect of exchange rate fluctuations — 695,140 — (5,504 ) 408,470 (31,573 ) 1,066,533 Discontinued operation 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 Additions 24,696 765 35,834 — 155,469 2,286 219,050 Disposals (224 ) (169,815 ) — — (44 ) (3,146 ) (173,229 ) Transfers — 1,109,131 (92,447 ) 9,201 (786 ) 140,253 1,165,352 Exchange variation 19,625 — — 3,232 24,481 3,361 50,699 At December 31, 2021 1,132,817 19,616,524 379,182 66,640 1,604,067 509,053 23,308,283 Amortization At January 1, 2020 — (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 ) Additions — (588,411 ) (11,838 ) — (116,860 ) (38,524 ) (755,633 ) Disposals — 152,236 — — 114 3,828 156,178 Transfers — (116,305 ) 92,447 (9,201 ) 533 (146,481 ) (179,007 ) Effect of exchange rate fluctuations — — — — (7,363 ) (2,988 ) (10,351 ) At December 31, 2021 — (3,910,259 ) (167,287 ) (9,201 ) (1,028,608 ) (411,430 ) (5,526,785 ) At December 31, 2020 1,088,720 15,318,664 187,899 54,207 519,915 139,034 17,308,439 At December 31, 2021 1,132,817 15,706,265 211,895 57,439 575,459 97,623 17,781,498 Amortization methods and useful lives Intangible assets (excluding goodwill) Annual rate of amortization December 31, 2021 December 31, 2020 Comgás (i) 2.00% 8,953,495 8,425,014 Rumo (ii) 1.59% 6,752,770 6,893,650 15,706,265 15,318,664 Operating license for port terminal 3.70% 211,895 187,899 Trademarks Comma Undefined 57,439 54,207 Customer relationships Comgás 20.00% 276,811 210,038 Moove 6.00% 297,286 309,877 Other 20.00% 1,362 — 575,459 519,915 Other Software license 20.00% 46,770 86,090 Other 20.00% 50,853 52,944 97,623 139,034 Total 16,648,681 16,219,719 (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 . The amount will be amortized until the end of the concession in 2079. Impairment testing of cash-generating units (“CGU”) goodwill The combined carrying amounts of goodwill allocated to each cash-generating unit are as follows: December 31, 2021 December 31, 2020 Cash generating unit – Moove 916,742 882,373 Cash generating unit – Compass 94,891 94,891 Cash generating unit – Logística 100,451 100,451 Cash generating unit – Cosan – Other Business 20,733 43 1,132,817 1,077,758 In general, the Company's future cash flow projections apply growth rates of 3% (3.3% in 2020), which in no case are increasing or exceeding the average long-term growth rates for the industry and country in particular. Cash flows are discounted at a pre-tax rate to calculate their present value. Discount rates, before tax and expressed in nominal terms, were between 8.3% and 12.2% (between 8.3% and 9.3% in 2020). The annual impairment test used assumptions of which we list some: Assumptions % annual Risk-free fee (T-Note 10y) 1.46% Inflation (BR) 3.00% Inflation (US) 2.16% Inflation (UK) 2.04% Country risk premium (BR) 3.68% Country risk premium (UK) 0.51% Country risk premium (ARG) 10.21% Market risk premium 5.63% Tax rate (BR) 34.00% Tax rate (UK) 19.00% Tax rate (ARG) 30.00% On December 31, 2020, the Logistics CGU recorded a provision for impairment in the amount of R$143,987 referring to the concession of Rumo Malha Oeste S.A. (“Rumo Malha Oeste”), of which R$143,018 refers to property, plant and equipment and R$966 refers to up to the right of use. During the year ended December 31, 2021, no changes were identified in the 2020 valuations for a provision revaluation. Additionally, management filed a re-bidding request for Rumo Malha Oeste to extend the concession period and, thus, reinvest in the rail network. As of December 31, 2021, no impairment charge on assets and goodwill was recognized. The determination of the recoverability of the assets depends on certain key assumptions, as described above, which are influenced by the market, technological and economic conditions prevailing when this recovery is tested and, therefore, it is not possible to determine whether further reductions in the recoverable value will occur in the future and, if they occur, whether they would be material. 11.3 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 “Service Concession Arrangements.” Gas and Power Moove Total At January 1, 2020 594,601 5,940 600,541 Additions 885,631 571 886,202 Disposals — — — Transfer to concession rights and customer relationships (793,542 ) 2,737 (790,805 ) At December 31, 2020 686,690 9,248 695,938 Additions 1,020,176 37,203 1,057,379 Disposals — (25,439 ) (25,439 ) Transfer to concession rights and customer relationships (1,021,896 ) — (1,021,896 ) At December 31, 2021 684,970 21,012 705,982 (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 . Capitalization of borrowing costs During the year ended December 31, 2021, the indirect subsidiary 11.4 Right-of-use assets Accounting policy The right-of-use asset is measured initially at cost, which comprises the initial measurement amount of the lease liability, adjusted for any lease payments made through the commencement date, plus any initial direct costs incurred by the lessee and an estimate of the costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the location in which it is located, or restoring the underlying asset to the condition required by the terms and conditions of the lease, less any lease incentives received. The right-of-use asset is subsequently depreciated on a straight-line basis from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the lessee at the end of the lease term, or if the cost of right-of-use asset reflects that the lessee will exercise the purchase option. In this case, the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as that of the property, plant and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. The subsidiary Rumo evaluated its railroad concessions within the scope of the IFRIC 12 Concession Contracts interpretation and, as it did not meet the terms within the scope of this interpretation, it registered its concession contracts as a right of use. Land, buildings and improvements Machinery, equipment and facilities Freight cars and locomotives Software Vehicles Port and rail infrastructure Total Cost At January 1, 2020 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 Business Combination (note 9.3) 3,240 — — — — — 3,240 Additions 73,039 47,554 43 — 15,219 15,108 150,963 Contractual adjustments 41,663 48,784 5,242 4,659 41 330,312 430,701 Disposals (12,121 ) (2,836 ) — — — — (14,957 ) Transfers (233,296 ) 7,264 — — — (7,475 ) (233,507 ) Currency translation adjustments 1,530 2,561 — — (86 ) — 4,005 At December 31, 2021 254,883 142,449 938,610 87,028 29,099 7,800,313 9,252,382 Amortization At January 1, 2020 (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 ) Additions (30,838 ) (16,339 ) (38,478 ) (4,425 ) (2,131 ) (322,042 ) (414,253 ) Transfers 75,134 (1,547 ) — — — 26,885 100,472 Disposals 3,880 2,229 — — — — 6,109 Currency translation adjustments (265 ) (1,506 ) — — 35 — (1,736 ) At December 31, 2021 (67,919 ) (29,258 ) (399,218 ) (16,959 ) (15,125 ) (776,636 ) (1,305,115 ) At December 31, 2020 264,998 27,027 572,585 69,835 896 6,980,889 7,916,230 At December 31, 2021 186,964 113,191 539,392 70,069 13,974 7,023,677 7,947,267 (i) On June 16, 2021, the subsidiary Rumo exercised a purchase option on the Rondonópolis Railway Terminal in the amount of R$184,100 (historical cost), which is being leased to the subsidiary Rumo Malha Norte S.A. 11.5 Investment property Accounting policy Investment property is measured initially at cost, including transaction costs. Subsequent to initial recognition, investment property is stated at fair value, which reflects market conditions at the reporting date. Revenue from the sale of agricultural properties is not recognized in income until (i) the sale is completed, (ii) the Company determines that payment by the buyer is probable; (iii) revenue can be measured reliably; and (iv) the Company has transferred the ownership risks to the purchaser, and no longer has any involvement in the property. Gains on the sale of agricultural properties are presented in the income statement as net income and the cost is presented as cost of properties sold. The fair value of agricultural properties was determined based on the direct comparative method of market data applied to transactions with similar properties (type, location and quality of the property), and to some extent based on sales quotations for potential transactions with comparable assets (level 3). The methodology used to determine fair value takes into account direct comparisons of market information, such as market research, homogenization of values, spot market prices, sales, distances, facilities, access to land, topography and soil, use of land (type of crop) and rainfall, among other data, in line with the standards issued by the Brazilian Association of Technical Standards Associação Brasileira de Normas Técnicas), or “ABNT”. Significant unobservable inputs range from 6.5% p.a. and 9% p.a. on December 31, 2021. The portfolio is evaluated annually by external experts and is periodically reviewed by in-house professionals technically qualified to carry out this type of evaluation. The balances of investment properties are shown below: Investment property December 31, 2020 — Subsidiary acquisition (Note 9.3) 3,875,752 Variation in fair value, net 17,116 Provision of Real Estate Transfer Tax (6,450 ) Other 278 December 31, 2021 3,886,696 |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2021 | |
Commitments | |
Commitments | 12. Commitments Considering the current gas supply contracts, Comgás has a total financial commitment in an estimated present value of R$7,745,842, until the end of December 2023, which amount includes the minimum established in contract in both commodity and transportation. 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 (value updated until December 2017). Of this amount, around R$3,000,000 comprise the obligations, whose physical execution was 16%. The Rumo Malha Central sub-concession contract provides for investments with a fixed term ( one three The Elevações Portuárias 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. On December 31, 2021, the subsidiary had made investments at a cost of R$270,629 (R$ 270,629 on December 31, 2020). The subsidiary Compass Gás e Energia, through Compass Comercialização, has a contract for the supply of Liquefied Natural Gas ("LNG") with Total Gas & Power Limited which after overcoming the preceding conditions, is committed to incurring the staggered acquisition LNG supply capacity of up to 120 TBTU for a period of 10 years. |
Concessions payable
Concessions payable | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Concessions payable | 13 Accounting policy The balance of lease installments involved in lawsuits with the granting authority is recorded in this account. 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. Balances paid in installments with the Granting Authority are kept in this account. The initial registration is for the amount remaining due from the resolution of the dispute. The values are corrected by Selic until payment. This account also includes balances payable in connection with the granting of concession rights (“Concessions”), initially recorded as a contra entry to intangible assets (Note 11.2 December 31, 2021 December 31, 2020 Court discussion Rumo Malha Paulista S.A. 55,170 101,871 Rumo Malha Oeste S.A. 1,747,233 1,617,764 1,802,403 1,719,635 Railroad concession payable Rumo Malha Paulista S.A. 1,145,450 1,154,919 Payables Rumo Malha Sul S.A. 85,713 84,637 Rumo Malha Paulista S.A. 20,682 24,151 106,395 108,788 Total 3,054,248 2,983,342 Current 160,771 158,705 Non-current 2,893,477 2,824,637 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 of June 5, 2017, and regulated by Decree No. 9,957 of August 7, 2019. Judicial deposits at December 31, 2021 and 2020 concerning the above claims are as follows: December 31, 2021 December 31, 20 20 Rumo Malha Oeste S.A. 22,119 22,119 22,119 22,119 Rail road 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; ii) the conversion of existing judicial deposits in favor of the Union; iii) an uncontroversial balance in favor of the Federal Government, divided into eight annual installments adjusted by Selic; iv) a portion of liabilities to be offset against potential credits in favor of the Company, these credits, subject to the assessment to be carried out by a working group involving the parties. The effects of the offsetting of balances were updated up to the registration date and resulted in a reversal of R$479,563 (R$348,319 in other expenses and R$131,243 in the financial result). As a result of the agreement, suspensions of the proceedings for return lawsuits filed by Rumo against the Brazilian government were required to determine labor claims that were not part of the agreement (from 2005), and which will be the subject of an investigation to be carried out by working group involving the parties. In parallel, the parties will submit a request for judicial approval of the agreement in the records of the economic and financial rebalancing action of the contract. Leases and grants under IFRS 16 (Note 6. 7 ) December 31, 2021 December 31, 2020 Leases Rumo Malha Sul 623,155 600,745 Rumo Malha Paulista 508,169 475,647 Rumo Malha Oeste 216,101 179,568 Elevações Portuárias 97,046 76,925 Portofer 13,921 12,463 1,458,392 1,345,348 Grants Rumo Malha Paulista (renewal) 590,594 492,222 Rumo Malha Central S.A. 614,410 491,354 1,205,004 983,576 Total 2,663,396 2,328,924 Current 274,774 232,212 Non-current 2,388,622 2,096,712 |
Other taxes payable
Other taxes payable | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other taxes payable | 14 Accounting policy The Company is subject to taxes, contributions and municipal, state and federal duties, in its respective jurisdictions. December 31, 2021 December 31, 2020 Tax amnesty and refinancing program 200,664 202,377 ICMS – State VAT 278,351 198,708 COFINS – Revenue tax 88,214 61,930 PIS – Revenue tax 15,082 16,578 INSS – Social security 34,215 29,515 IRRF - Withhold Income Tax 11,024 — ISS – Service tax — 1,108 IOF – Financial tax — 873 Other 55,559 55,255 683,109 566,344 Current 536,220 417,326 Non-current 146,889 149,018 The amounts due on non-current liabilities present the following maturity schedule: December 31, 2021 December 31, 2020 13 to 24 months 4,370 7,254 25 to 36 months 1,514 3,143 37 to 48 months 716 1,478 49 to 60 months 716 691 61 to 72 months 137,687 134,151 73 to 84 months 716 691 85 to 96 months 716 691 Thereafter 454 919 146,889 149,018 |
Income tax and social contribut
Income tax and social contribution | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Income tax and social contribution | 15. Income tax and social contribution Accounting policy The statutory income taxes rate in Brazil is 34%. Income taxes in Brazil are paid by each legal entity on a stand-alone basis and tax consolidation is not permitted. Current tax and deferred tax are recognized in profit or loss except for some transactions that are recognized directly in equity or in other comprehensive income. 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 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) Tax exposure 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) Recoverability of deferred income tax and social contribution 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% of annual taxable income. a) Reconciliation of income tax and social contribution expenses December 31, 2021 December 31, 2020 December 31, 2019 Profit before taxes 6,250,876 1,990,961 3,661,948 Income tax and social contribution nominal rate (34%) (2,125,298 ) (676,927 ) (1,245,062 ) Adjustments to determine the effective rate Interest in earnings of investees (non-taxable income) (i) 1,734,883 207,940 385,097 Differences in tax rates on earnings (losses) of overseas companies 55,910 19,793 (78,026 ) Granted income tax incentive 199,687 109,081 178,609 Share-based payment transactions 450 9,941 19,986 Interest on shareholders’ equity (72,804 ) (24,773 ) (26,766 ) Non-deductible expenses (donations, gifts, etc.) (28,061 ) (4,183) (16,925 ) Tax losses not recorded (203,809 ) (170,017 ) (69,335 ) ICMS benefit - (ii) 290,745 — — ICMS benefit - current period (iii) 118,107 — — Rate difference 5,577 — — Amortization of the effects on formation of joint ventures (iv) 402,571 — — Goodwill amortization effect 1,271 1,271 1,271 Other (v) (vi) 66,355 25,207 71,555 Income tax and social contribution - current and deferred 445,584 (502,667 ) (779,596 ) Effective rate 7.13% 25.25% 21.29% (i) The amount of R$129,792 , referring to the amortization of the surplus value of , is treated as a temporary difference. (ii) The subsidiary recognized an extemporaneous credit in the amount of R$ 358,898 (R$ 290,745 principal and R$ 68,152 interest), used through its offset against IRPJ, CSLL, PIS and COFINS payable due in the year , related to the overpayments of Income Taxes ( Imposto de Renda Pessoa Jurídica % to15.6 % pursuant to art. 8 of Annex II of the ICMS Regulation, approved by State Decree No. 45,900 (“RICMS/SP”), as amended by State Decree No. 62,399/2016. These credits were recognized by the Company based on its best understanding of the subject, substantiated by the opinion of its external legal advisors, which took into account all the jurisprudence applicable to the subject. The Company also considered all the accounting rules in force, which, after being analyzed together, did not indicate any other accounting effect to be recognized. (iii) After January 1, 2021, the subsidiary changed its tax procedure, excluding the benefit of the reduction in the ICMS tax base, granted by the State of Paulo, directly from the calculation of IR and CS for the current year. (iv) Reversal of deferred income tax and social contribution liabilities on the amortization of fair value related to the gain recorded in the formation of (v) The Company reversed the deferred IRPJ and CSLL in the amount of R$284,738 , on the interest on the put option in the investment transaction, which involved CIP and the banks, as a result of the settlement of the put option see Note 2. (vi) Considering the effects of the judgment of STF RE No. 1,063,187, dated September 24, 2021, it concluded that certain financial effects related to the equity recomposition in the event of repetition of undue taxes should not form the basis of the company's taxable income. Company and its subsidiaries the amount of R$ 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, 2021 December 31, 2020 Assets credits of: Income tax losses 2,987,069 2,574,260 Social contribution losses 1,087,742 929,432 Temporary differences Share-based payment transactions 50,114 19,129 Allowance for expected credit losses 28,948 31,416 Profit sharing 111,931 41,080 Tax credit losses 81,918 83,833 Interest on preferred shareholders payable in subsidiaries — 167,412 Post-employment benefits 160,082 200,461 Loss allowances for impairment 193,207 226,092 Provision for legal proceedings 374,369 288,967 Miscellaneous expense allowance 401,423 366,224 Review of useful life of property, plant and equipment — 399,537 Leases 431,629 — Foreign exchange - Loans and borrowings 1,667,500 1,962,892 Other (i) 300,307 242,018 7,876,239 7,532,753 ( -) Deferred taxes assets net not recognized (ii) (2,483,035 ) (2,318,998 ) Liabilities credits of: Temporary differences Fair value option to loans (127,318 ) 526,001 Fair value amortization of the property, plant and equipment (15,976 ) (2,640 ) Leases — (25,460 ) Tax deductible goodwill (331,404 ) (839,939 ) Investment properties (100,197 ) — Marketable securities (62,593 ) — Provision for realization - Goodwill recorded in equity (iii) (449,153 ) — Income on formation of joint ventures (668,508 ) (1,135,036 ) Unrealized gains on derivatives instruments (1,034,373 ) (2,206,216 ) Review of useful life of property, plant and equipment (53,347 ) — Fair value amortization of the intangible asset (3,551,836 ) (3,603,568 ) Other 235,073 282,212 (6,159,632 ) (7,004,646 ) Total deferred taxes recorded, net (766,428 ) (1,790,891 ) Deferred tax assets 3,051,628 1,900,241 Deferred tax liabilities (3,818,056 ) (3,691,132 ) (i) Refers mainly to tax losses and temporary differences of the Company, and , which, under current conditions, do not meet the requirements for accounting for said income tax and social contribution assets deferred due to the lack of predictability of future generation of tax profits. (ii) Provision for accounting realization of tax loss recognized in the capital contribution in a subsidiary. c) Changes in deferred income tax Assets Tax loss and negative basis Employee benefits Provisions Post-employment benefits Property, plant and equipment Unregistered credits Other Total At January 1, 2020 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 As at December 31, 2020 3,503,692 60,209 996,530 200,461 399,537 (2,318,998 ) 2,372,324 5,213,755 Credited / (charged) to the profit for the year 565,197 101,836 93,396 (12,737 ) (433,371 ) (163,890 ) (1,642,143 ) (1,491,712 ) Other comprehensive income (loss) — — — (27,642 ) — (147 ) 20,035 (7,754 ) Recognized in equity 5,878 — 68 — — — 4,267 10,213 Business combination (Note 9.3) 44 — (10,129 ) — (19,513 ) — — (29,598 ) Exchange differences — — — — — — 1,213,324 1,213,324 As at December 31, 2021 4,074,811 162,045 1,079,865 160,082 53,347 (2,483,035 ) 1,967,807 4,908,228 Liabilities Effects on the formation of joint ventures Intangible assets Unrealized gains on derivatives Leases Fair value adjustment Other Total At January 1, 2020 (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 ) As at December 31, 2020 (1,135,036 ) (3,603,568 ) (2,206,216 ) (25,459 ) 526,002 (560,369 ) (7,004,646 ) Credited / (charged) to the profit for the year 466,528 51,732 1,063,297 456,858 (653,320 ) 126,479 450 Other comprehensive income (loss) — — 108,546 230 — (127,076 ) (18,300 ) Business combination (Note 9.3) — — — — — (163,284 ) (163,284 ) As at December 31, 2021 (668,508 ) (3,551,836 ) (1,034,373 ) (431,629 ) 127,318 (724,250 ) (5,674,656 ) Total deferred taxes recorded (766,428 ) The Company evaluated the period for offsetting its deferred tax assets on tax losses, negative basis of social contribution and temporary differences through the projection of its taxable income. In the year ended December 31, 2021, the Company continued to monitor the observed impacts of the COVID-19 pandemic and evaluated the impacts of the increase in interest rates and judged that the potential effects should not affect the medium and long-term projections to point of harming the realization of balances. The results projected by the Company generate the following expected realization on December 31, 2021: December 31, 2021 Within 1 year 266,609 From 1 to 2 years 277,527 From 2 to 3 years 322,779 From 3 to 4 years 329,506 From 4 to 5 years 350,582 From 5 to 8 years 976,496 From 8 to 10 years 528,129 3,051,628 |
Provision for legal proceedings
Provision for legal proceedings and judicial deposits | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Provision for legal proceedings and judicial deposits | 16. 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, 2021 and 2020 in respect of: Provision for legal proceedings Judicial deposit December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Tax 647,610 635,406 500,484 462,197 Civil, environmental and regulatory 585,034 350,769 169,857 140,833 Labor 411,417 374,723 252,720 272,812 1,644,061 1,360,898 923,061 875,842 Changes in provision for legal proceedings: Tax Civil, environmental and regulatory Labor Total At January 1, 2020 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 Provisions 24,559 103,805 114,596 242,960 Settlement / Write-offs (15,331 ) (56,931 ) (117,238 ) (189,500 ) Interest (i) 2,976 187,391 39,336 229,703 At December 31, 2021 647,610 585,034 411,417 1,644,061 (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, 2021 December 31, 2020 Compensation with FINSOCIAL (i) 300,470 296,445 INSS - Social security (ii) 97,847 97,928 State VAT - ICMS credit (iii) 85,965 93,743 IPI - Excise tax credit - NT (iv) 43,461 53,697 Federal income taxes 8,553 9,508 PIS and COFINS 28,427 2,304 Other 82,887 81,781 647,610 635,406 (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). 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. (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$93,700 as of December 31, 2020, and R$97,534 as of December 31, 2019. (iv) 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. Civil, Environmental and Regulatory Proceedings The Company and its subsidiaries and jointly controlled entity are parties to a several numbers of civil legal claims related to (1) indemnity for material and moral damages; (2) termination or litigation of in relation to different kinds of agreements (3) public civil claims related to sugarcane stubble burning; (4) environmental matters; and (5) compliance with certain conduct adjustment agreement and other matters. Provisions for civil, regulatory and environmental claims as of December 31, 2021, amounted to R$585,034 and R$350,769 as of December 31, 2020. As of December 31, 2021, R$169,857 in judicial deposits were made for civil and environmental claims, and this figure was R$140,833 as of December 31, 2020. Cosan S.A., its subsidiaries and jointly controlled entities are also parties to a number of regulatory legal proceedings related to (1) collection of fines by the ANTT; (2) discussions on the tariff ceiling imposed by the ANTT; and (3) certain other matters. Labor claims The Company and its subsidiaries 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 non-compliance 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 b) Possible losses The principal proceedings for which we deem the risk of loss as possible are described below: December 31, 2021 December 31, 2020 Tax 14,647,917 13,416,966 Civil, environmental and regulatory 6,905,964 5,476,470 Labor 859,830 942,352 22,413,711 19,835,788 Tax December 31, 2021 December 31, 2020 Federal income taxes (i) 5,404,264 4,344,963 ICMS − State VAT (ii) 2,877,144 3,042,710 PIS and COFINS − Revenue taxes (iii) 2,368,123 2,182,933 IRRF − Withholding tax (iv) 1,251,394 1,227,555 Penalties related to tax positions (v) 461,747 473,690 IPI − Excise tax credit − NT (vi) 492,025 455,121 MP 470 − Tax installments (vii) 398,184 357,500 INSS − Social security and other (viii) 180,533 226,807 Compensation with IPI − IN 67/ 98 (ix) 186,048 183,585 Goodwill — 84,953 Stock option (x) 65,260 63,986 Foreign financial operation — 29,136 Financial transactions tax on loan 8,450 14,886 Capital gain (xi) 29,516 — IOF on Mutual (xii) 136,286 — Other 788,943 729,141 14,647,917 13,416,966 (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 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. (ii) The legal claims related to the ICMS essentially involve: (a) Infraction Notices drawn up by the Paulo State Finance Department ( da de Paulo), against , with the reporting of infractions for alleged lack collection of ICMS in the provision of rail transport services for export; improper credit of ICMS for alleged bookkeeping in the Book of Entries of amounts higher than those found in the Tax Books; improper credit of ICMS for acquisitions supposedly classified as use and consumption. Fines of 50% of the tax amount and 100% of the amount of credit considered undue were also included. (b) state tax authorities assessed the charges for non-taxation by ICMS on the invoices for the provision of rail freight services for export. All assessments were challenged, since there is a favorable position for taxpayers consolidated in the higher courts, based on the Federal Constitution and Complementary Law 87/1996 (c) the Treasury of the State of drew up several Terms of Seizure and Deposit ( ) in order to collect ICMS and a 50% fine on the value of the fined operations, under the mistaken understanding that the goods exit operations destined for export would be cancelled with the (Auxiliary Document of Electronic Transport Knowledge), with the supposed characterization of untrue documentation, under the terms of articles 35-A and 35-B of State Law 7098/98. The Company and its subsidiaries contest challenge the assessments and demonstrate to the Tax Authorities that the goods transported were duly covered by suitable tax documentation; (d) collection of ICMS, for the years 2018 and 2019, in the acquisition of wagons as a result of the alleged non-exemption provided for by the Tax System for Incentives to the Modernization and Expansion of the Port Structure - REPORTO by the Paulo tax authorities. (iii) The administrative demands for PIS and COFINS in subsidiary are substantially related to the disallowance of PIS and COFINS credits by the non-cumulative system related to the following items: a) credits launched out of time unaccompanied by prior rectification of tax returns; b) claims on expenses arising from mutual traffic contracts; c) credits related to expenses with services classified as inputs in the activity carried out by the Company that supposedly were not proven during the Inspection; d) credits on expenses with transportation of employees; e) credits related to electricity expenses; f) credits on expenses with machinery rentals and rentals that were not proven in the course of the Inspection; g) credits on expenses on the acquisition of machinery, equipment and other assets incorporated into the subsidiary's fixed assets; and (h) and isolated fine corresponding to 50% of the value of the credits. (iv) The legal claims related to the IRRF essentially involve: (a) 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. (b) had part of its IRPJ credit balance offset partially disallowed by the Federal Revenue Service ( Federal do ) based on the argument that the Company would not be entitled to IRRF offset on swap transactions. (v) Infraction Notices drawn up in the face of to demand differences in IRPJ, CSLL, PIS and COFINS, related to the calendar years 2005 to 2008, due to the following alleged a) undue deduction of the Real Profit and the Calculation Base of CSLL of financial expenses arising from loans entered into with financial institutions abroad, b) undue exclusion of Real Profit and Calculation Base of financial income from securities issued by the Government of Austria and the Government of Spain, c) no inclusion, in the Real Profit and in the CSLL Calculation Base, of the gains earned in swap operations, and no taxation of the financial income resulting from such contracts by PIS and COFINS, d) undue exclusion of the Real Profit and the Calculation Base of CSLL, carried out as PIS and COFINS credits, e) undue exclusion of Real Profit and the CSLL Calculation Base carried out as deferred CSLL. f) undue exclusion of taxable income and the CSLL calculation basis made as deferred CSLL; and Violation g) insufficient payment of advances of IRPJ and CSLL, which generated the application of an isolated fine at the percentage of 50%, together with the fines of 75%. In 2019, we had definitive success regarding the completeness of the infractions “a”, “b”, “d”, “e” and “f”, as well as part of the infraction “c”, to recognize the possibility of exclusion of the actual profit and the CSLL calculation basis of the revenues arising from the Austrian public debt securities acquired on July 24, 2006 and, as a consequence, of part of the infraction “g”, in the extension of the partial cancellation of the item “c”. Contingency adjusted for ultimate success. The remainder of item “g” remains under administrative discussion. The discussion on the remainder of item “c” ended at the administrative level and continued at the judicial level. F-105 Table of Contents Notes to the consolidated financial statements (In thousands of Brazilian reais - R$, unless otherwise stated) (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 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. (vii) Brazilian federal tax authorities have partially rejected the Company’s application for payment of federal tax debts with 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 losses are not sufficient to offset the relevant debts. (viii) 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. (ix) 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. (x) Tax assessments issued against the 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. (xi) Tax assessment notices issued by the Federal Revenue Service ( Federal do ) in 2011 and 2013 and 2019 against related to a) disallowance of goodwill expense based on future profitability, as well as financial expenses; b) non-taxation of supposed capital gain on the sale of equity interest in a Company of the same economic group; and c) supposed capital gain on the incorporation of shares in companies of the same economic group. In 2019, the subsidiary had definitive success in terms of reducing the capital gain launch base. Contingency adjusted for ultimate success. F-106 Table of Contents Notes to the consolidated financial statements (In thousands of Brazilian reais - R$, unless otherwise stated) (xii) The lawsuits related to the IOF essentially involve a) The Federal Treasury intends to enforce the levy of IOF on the current accounts maintained by the parent Company for and its subsidiaries (most substantial part of the assessment). In the understanding of the tax authorities, the use of an accounting item as advances for expenses to related companies, without a formal loan agreement, characterizes the existence of a current account, and the IOF due must be determined according to the rules specific to revolving credit operations. The tax assessment notices are still being questioned at the administrative level; b) Tax Assessment Notice issued by the Federal Tax Authorities against for alleged failure to pay IOF in the period 2017 and 2018, relating to the collection of alleged financial transactions between the group companies, essentially on the remittance of amounts arising from mutual traffic between and , contracts with and other amounts listed in other accounting accounts. 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) indemnity for loss and moral damages; (2) termination or litigation of in relation to different kinds of agreements; (3) environmental matters; and (4) compliance with certain conduct adjustment agreement and other matters Labor One of Rumo’s subsidiaries, Rumo Malha Paulista is currently a party to a public civil action before the labor courts. This proceeding originated in an inspection of the company MS Teixeira, which was hired by Prumo Engenharia Ltda. (“Prumo Engenharia”), Rumo’s subcontractor. The inspecting authority alleged that workers for MS Teixeira were working in conditions that were degrading and analogous to indentured servitude. Prumo Engenharia fully assumed the responsibility for the condition of the employees, including labor and contractual liabilities and all losses resulting from the alleged unlawful working conditions put in place by its subcontractors, and the dismissal agreements of such employees were approved by the Brazilian Ministry of Labor without any participation by Rumo. In addition, a criminal investigation against Rumo was filed, which was later dismissed with the acquittal of Malha Paulista. Notwithstanding the foregoing, the Labor Prosecutor’s Office filed a public civil action solely against Rumo. Rumo was ordered (in both the first instance and on initial appeal) to comply with several obligations relating to workplace conditions, and pay collective moral damages, as well as fines of R$15,000. However, any potential future loss on this lawsuit cannot result in the inclusion of Rumo Malha Paulista on the list maintained by the Brazilian Ministry of Labor of employers who engage in labor irregularities. Rumo appealed to the Regional Appeal Court, but the appeal was dismissed. Rumo appealed again to the Superior Labor Court and this appeal is currently pending. c) Contingent assets (i) On March 15, 2017, in case that sets a judicial precedent, the STF granted Extraordinary Appeal No. 574,706 against a decision that required the inclusion of the tax on the circulation of goods and transportation and communication services, a state sales tax (Imposto sobre Circulação de Mercadorias e Serviços), or “ICMS,” in the calculation of the tax base of employees’ profit participation program (Programa de Integração Social), or “PIS,” and social contribution for social security financing (Contribuição para o Financiamento da Seguridade Social), or “COFINS.” There is still an approximate amount of R$932,000 of Comgás, 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 plus monetary adjustment since April 2018, as a result of the Third Ordinary Tariff Review, to be applied to the value of the assets returned by Comgás, upon termination of the concession, or to any amounts payable by Comgás if the concession is renewed, or to any amounts payable in connection with any renewal of the concession agreement, as it comes to be defined by ARSESP, according to Resolution No. 995 of May 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 was not recognized in our financial statements because it does not comply with accounting standards. (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 as an economic-financial rebalancing of Comgás. |
Shareholders' equity
Shareholders' equity | 12 Months Ended |
Dec. 31, 2021 | |
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Shareholders' equity | 17 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 16. The subscribed capital is R$6,365,853 as of December 31, 2021, and R$5,727,478 as of December 31, 2020, fully paid in, is represented by 1,874,070,932common shares, outstanding and without par value. According to the bylaws, the authorized capital may be increased up to the limit of R$7,000,000. On April 30, 2021, share split was approved at Annual and Extraordinary General Meeting in the proportion of 1 4 At December 31, 2021, share capital is composed of the following: Shareholders Common shares % Controlling group 672,762,132 35.90% Board of directors and executive officers 25,285,335 1.35% Free float 1,170,582,693 62.46% Total of shares 1,868,630,160 99.71% Treasury shares 5,440,772 0.29% Total of shares 1,874,070,932 100.00% 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. On December 31, 2021, the Company had 5,440,772 shares in treasury, whose market price was R$21,69. This reduction refers to: (i) the cancellations of 10,000,000 shares, equivalent to R$496,916 resulting from the corporate restructuring process, effective on February 2, 2021, (ii) split of shares issued by the Company on April 30, 2021, of 1 4 On March 26, 2021, the Company approved the common share buyback program, with a maximum of 68,000,000 shares, representing 5.89% of the total shares available on the market, with the deadline until September 25, 2022, for the purpose of keeping in treasury, cancellation or sale. c) Accounting policy Its purpose is to reinforce working capital, finance the maintenance, expansion and development of activities that make up the Company's corporate purpose. d) Accounting policy It is constituted through the appropriation of 5% of the net income for the year up to the limit of 20% of the capital stock, pursuant to Law 6,404. e) Dividends Accounting policy The Company's bylaws, at the end of the year, are intended for the minimum mandatory dividend corresponding to 25% of annual net income adjusted by the equity variation of reserves, pursuant to corporate law. Dividends, allocation of net income for the year and excess profit reserves, as determined in art. 199 of the Brazilian Corporation Law will be the subject of deliberations at the next Annual Shareholders' Meeting. f) Other comprehensive (loss) income December 31, 2020 Comprehensive (loss) income December 31, 2021 Loss on cash flow hedge (1,316,502 ) (601,415 ) (1,917,917 ) Foreign currency translation differences 6,514 89,848 96,362 Actuarial loss on defined benefit plan (217,771 ) 41,832 (175,939 ) Gain on measurement of financial instrument 15,000 — 15,000 Change in fair value of financial assets 1,555 2,269 3,824 (1,511,204 ) 914,332 (596,872 ) Attributable to: Owners of the Company (1,524,027 ) 1,002,418 (521,609 ) Non-controlling interests 12,823 (88,086 ) (75,263 ) 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 |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2021 | |
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Earnings per share | 18 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. Basic earnings per share are calculated by dividing net earnings by the weighted average number of common shares outstanding during the period. The diluted earnings per share are calculated by adjusting the earnings and the number of shares by the impacts of potentially dilutive instruments. For the purpose of calculating basic and dilutive earnings per share for all periods presented, the number of ordinary shares outstanding of Cosan S.A., as a result of the corporate reorganization, was reflected retroactively as of January 1, 2019. On April 30, 2021, the Annual and Extraordinary General Meeting approved a share 1:4 The following table sets forth the calculation of earnings per share (in thousands of Brazilian reais December 31, 2021 December 31, 2020 (restated) December 31, 2019 (restated) Profit attributable to the holders of the Company’s common shares used in the calculation of basic earnings per share 6,312,140 859,482 1,316,341 Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating basic earnings per share 6,312,140 859,482 1,305,320 Dilutive effect of the share-based plan of subsidiaries (5,249 ) (5,739 ) (5,714 ) Profit attributable to the holders of the Company’s common shares used in the calculation of diluted earnings per share 6,306,891 853,743 1,310,627 Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating diluted earnings per share 6,306,891 853,743 1,299,606 Weighted average number of outstanding Shares of Cosan S.A. (in thousands of shares) Basic 1,834,533 1,834,533 1,834,533 Dilutive effect of the share-based plan 4,687 6,741 8,530 Dilutive 1,839,220 1,841,274 1,843,063 Earnings per share Basic R$3.4407 R$0.4685 R$0.7175 Diluted R$3.4291 R$0.4637 R$0.7111 Earnings per share from continuing operations Basic R$3.4407 R$0.4685 R$0.7115 Diluted R$3.4291 R$0.4637 R$0.7051 Dilutive instruments The Company’s subsidiaries have two categories of potential dilutive effects: share options and put options. For the share options, a calculation is done to determine the effect of the dilution in the profit attributable to shareholders of the parent due the exercise of the share options at subsidiaries. For the put option, is assumed to have been converted into ordinary shares, and the profit attributable to shareholders of the parent is adjusted. Anti-dilutive instruments For the year ended December 31, 2021, 45,765,000 shares related to the Cosan S.A. share buyback plan were not considered in the diluted earnings per share analysis, as they would have an anti-dilutive effect. |
Net sales
Net sales | 12 Months Ended |
Dec. 31, 2021 | |
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Net sales | 19. Net sales Accounting policy The Company recognizes revenues from the following main sources: a) Sale of products The Company 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 separate performance obligations and therefore revenue is recognized for each of these performance obligations when control of the respective goods and services is transferred to the customer. The transaction price is allocated to different performance obligations based on the independent selling price, in which revenues are identified, 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: i. Billed revenue The Company provides gas distribution services through the subsidiary Comgás. The fair value and selling prices of individual services are broadly similar. Gas distribution revenue is recognized when its value can be measured reliably, being recognized in the income statement in the same period in which the volumes are delivered to customers based on the monthly measurements made. ii. Unbilled revenue Unbilled revenue refers to the portion of gas supplied for which metering and billing to customers have not yet occurred. This amount is estimated based on the period between measurement and the last day of the month. The actual volume billed may be different from estimates. The Company believes that, based on its historical experience, the unbilled estimated amount will not significantly differ from actual amounts. iii. Infrastructure concessions The construction of the infrastructure necessary for gas distribution is considered a construction service rendered to the ARSESP, and the related revenue is recognized over time based on the cost incurred method. 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. Advances received are included in contract liabilities. iv. Services rendered Revenue is recognized over time as services are provided. The stage of completion to determine the amount of revenue to be recognized is evaluated based on assessments of progress of work performed. If services under a single contract occur in different periods, consideration is allocated based on their individual sales prices. The individual selling price is determined on the basis of the list prices at which the Company sells the services in separate transactions. 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 days from their issue date.. 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’ electricity 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. f) Lease revenues Rental income mainly corresponds to land leased by Radar and is recognized on a straight-line basis over the term of each contract, to the extent that the contracts transfer to customers the right to use the assets for a period in exchange for consideration, which can be measured reliably. g) Sale of investment properties Revenue comprises the fair value of the consideration received or receivable for the disposal of investment properties in the ordinary course of the subsidiary's activities. Revenues are presented net of taxes, returns, rebates and discounts, and in the consolidated financial statements after eliminating sales within the subsidiary. Revenue is recognized when the subsidiary fulfills all obligations and promises identified in the contract for the transfer of goods to the customer. The following is an analysis of the Company’s net sales for the year: December 31, 2021 December 31, 2020 December 31, 2019 Gross revenue from sales of products and services 30,317,755 24,040,536 23,703,245 Construction revenue 1,020,176 885,630 813,341 Indirect taxes and deductions (5,472,930 ) (4,488,331 ) (3,905,177 ) Net sales 25,865,001 20,437,835 20,611,409 In the following table, revenue is disaggregated by products and service lines and timing of revenue recognition: December 31, 2021 December 31, 2020 December 31, 2019 At a point in time Natural gas distribution 10,447,312 7,372,957 8,636,221 Electricity trading 620,495 775,479 — Lubricants and base oil 5,546,093 4,283,704 3,916,504 Other 277,571 59,923 64,682 16,891,471 12,492,063 12,617,407 Over time Railroad transportation services 7,103,706 6,680,307 6,548,109 Port elevation 335,965 285,852 351,563 Construction revenue 1,020,176 885,630 813,341 Services rendered 566,364 131,871 317,960 9,026,211 7,983,660 8,030,973 Elimination (52,681 ) (37,888 ) (36,971 ) Total 25,865,001 20,437,835 20,611,409 |
Costs and expenses by nature
Costs and expenses by nature | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Costs and expenses by nature | 20. 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, 2021 December 31, 2020 (restated) December 31, 2019 (restated) Commodity cost (natural gas) (6,137,104 ) (3,867,044 ) (4,885,497 ) Raw materials (4,631,436 ) (3,289,845 ) (3,231,169 ) Personnel expenses (1,997,881 ) (2,533,429 ) (2,244,252 ) Depreciation and amortization (2,504,384 ) (2,340,854 ) (2,287,877 ) Railroad transportation and port elevation expenses (2,128,043 ) (1,897,975 ) (1,867,196 ) Electricity purchased for resale (968,503 ) (927,913 ) — Construction cost (1,020,176 ) (885,630 ) (813,341 ) Natural gas transportation cost (1,074,441 ) (753,603 ) (703,500 ) Other transport (25,143 ) — — Selling expenses (23,638 ) (23,387 ) (26,168 ) Expenses with third-party services (751,486 ) — — Other (897,789 ) (731,869 ) (460,161 ) (22,160,024 ) (17,251,549 ) (16,519,161 ) Cost of sales (19,864,248 ) (14,999,823 ) (14,616,985 ) Selling expenses (723,419 ) (661,907 ) (666,114 ) General and administrative expenses (1,572,357 ) (1,589,819 ) (1,236,062 ) (22,160,024 ) (17,251,549 ) (16,519,161 ) |
Other income (expenses), net
Other income (expenses), net | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other income (expenses), net | 21. Other income (expenses), net December 31, 2021 December 31, 2020 December 31, 2019 Settlement of disputes in the renewal process (i) 9,242 278,496 — Tax credits (i) 287,049 132,399 165,398 Gain (loss) on disposal of non-current assets and intangibles 7,295 30,610 (35,274 ) Gain from bargain purchase (Note 9.3) 416,268 — — Reimbursement of natural gas loss in the process — 26,945 — Gain on compensation claims — — 50,284 Net effect of legal proceedings (263,945 ) (32,704 ) (105,153 ) Depreciation of right-of-use — (100,593 ) (40,545 ) Disposal of credit rights — (68,311 ) 410,000 Change in fair value of investment properties (note 11.5) 17,116 — — Loss on impairment — (143,984 ) — Other (90,425 ) 54,011 (40,024 ) 382,600 176,869 404,686 (i) Effect referring to the reversal of lease liabilities in dispute registered, related to labor credits from lawsuits for return, of subsidiary Rumo in the amount of R$ 52,963 ; and waiver of administrative and regulatory proceedings contemplated in the 7 th Addendum to the Concession Agreement Renewal of the concession agreement of subsidiary Comgás in the amount of (R$ 43,721 ). |
Finance results
Finance results | 12 Months Ended |
Dec. 31, 2021 | |
Investments accounted for using equity method [abstract] | |
Finance results | 22 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, 2021 December 31, 2020 December 31, 2019 Cost of gross debt Interest on debt (3,162,853 ) (2,148,322 ) (1,626,911 ) Monetary and exchange rate variation (1,069,157 ) (3,253,446 ) (438,430 ) Derivatives and fair value measurement 2,193,855 3,918,848 764,816 Amortization of borrowing costs (341,034 ) (58,732 ) (56,397 ) Guarantees and warranties (52,082 ) (56,079 ) (65,207 ) (2,431,271 ) (1,597,731 ) (1,422,129 ) Income from financial investment and exchange rate in cash and cash equivalents 600,894 369,690 407,701 Cost of debt, net (1,830,377 ) (1,228,041 ) (1,014,428 ) Interest on other receivables 411,394 201,060 435,498 Monetary variation of other financial assets (372 ) — — Interest on other payables (424,946 ) (16,293 ) (302,620 ) Interest on lease liabilities (407,972 ) (595,482 ) (559,240 ) Interest on shareholders' equity (8,288 ) (4,959 ) (18,726 ) Interest on contingencies and contracts (315,620 ) (234,368 ) (222,617 ) Bank charges and other (96,983 ) (75,408 ) (196,230 ) Foreign exchange, net 115,607 (30,505 ) (89,260 ) (727,180 ) (755,955 ) (953,195 ) Finance results, net (2,557,557 ) (1,983,996 ) (1,967,623 ) Reconciliation Finance expense (2,527,506 ) (4,727,561 ) (3,690,578 ) Finance income 1,258,441 407,710 974,604 Foreign exchange, net (1,099,536 ) (3,258,656 ) (526,946 ) Derivatives (188,956 ) 5,594,511 1,275,297 Finance results, net (2,557,557 ) (1,983,996 ) (1,967,623 ) |
Post-employment benefits
Post-employment benefits | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Post-employment benefits | 23. 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 months after the end of the period in which the employees render the service are discounted to their present value. 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) Defined benefit 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 salaries. Any actuarial liability calculated, is recorded by the Company. 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) Health Plan The Subsidiary Comgás offers the following post-employment health care benefits, granted to former employees and their dependents who retired up to May 31, 2000. After this date, only employees with 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, 2021 December 31, 2020 Defined contribution Futura II 190 186 Defined benefit Futura 198,761 163,972 Health Plan 470,524 564,576 669,475 728,734 a) Defined contribution During the year ended December 31, 2021, the amount of sponsor contributions to the plans was R$217 (R$214 and R$215 on December 31, 2020 and 2019, respectively). 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, 2021, the amounts of contributions totaled R$5,166 (R$7,044 and R$4,349 on December 31, 2020 and 2019, respectively). The weighted average duration of the obligation is 9.6 years. In 2022, the subsidiary expects to make a contribution of R$60,560 in relation to its defined benefit plan. c) Medical p lan Comgás: Obligations related to post-employment benefit plans, which include medical assistance and retirement incentives, sick pay and disability pension. The defined benefit pension plan is governed by Brazilian labor laws, which require final salary payments to be adjusted to the consumer price index at the time of payment upon retirement. The level of benefits provided depends on the member's length of service and salary at retirement age. During the year ended December 31, 2021, the amounts of contributions totaled R$25,169 (R$26,804 for the year ended December 31, 2020). The weighted average duration of the obligation is 11.7 years (14.9 years in 2020). The details of the present value of the defined benefit obligation and the fair value of plan assets are as follows: December 31, 2021 December 31, 2020 December 31, 2019 Actuarial obligation at beginning of the year 1,249,156 1,249,630 1,012,792 Current service cost 487 540 480 Interest on actuarial obligation 88,299 89,253 91,849 Actuarial (gain) loss arising from financial assumptions (183,159 ) (58,250 ) 211,030 Actuarial loss (gain) arising from experience adjustment 77,111 30,267 (1,216 ) Actuarial loss arising from demographic assumptions — 14 — Benefit payments (70,201 ) (62,298 ) (65,305 ) Actuarial obligation at the end of the year 1,161,693 1,249,156 1,249,630 Fair value of plan assets at the beginning of the year (520,608 ) (544,988 ) (433,174 ) Interest income (35,809 ) (38,452 ) (39,299 ) Return on investments in the year (excluding interest income) 24,143 34,370 (105,417 ) Employer contributions (30,336 ) (33,836 ) (32,403 ) Benefit payments 70,202 62,298 65,305 Fair value of plan assets at the end of the year (492,408 ) (520,608 ) (544,988 ) Net defined benefit liability 669,285 728,548 704,642 Total expense recognized in profit or loss is as follows: December 31, 2021 December 31, 2020 December 31, 2019 Current service cost (487 ) (540 ) (480 ) Interest on actuarial obligation (52,490 ) (45,567 ) (45,601 ) (52,977 ) (46,107 ) ( ) Total amount recognized as other accumulated comprehensive income: December 31, 2021 December 31, 2020 December 31, 2019 Accumulated at the beginning of the year 59,904 66,305 170,702 Actuarial gain (loss) arising from financial assumptions 183,156 58,250 (211,030 ) Actuarial (loss) gain arising from experience adjustment (77,112 ) (30,267 ) 1,216 Actuarial loss arising from demographic assumptions — (14 ) — Return on investments in the year (excluding interest income) (24,145 ) (34,370 ) 105,417 Accumulated at the end of the year 141,803 59,904 66,305 The plan assets are composed of the following: December 31, 202 1 December 31, 20 20 Amount % Amount % Fixed income bonds 484,847 99.99% 513,470 99.96% Other 48 0.01% 180 0.04% 484,895 100.00% 513,650 100.00% Plan assets are comprised of financial assets with quoted prices in active markets and therefore are classified as level 1 and level 2 in the valuation hierarchy of fair value. The overall expected rate of return on plan assets in determined based on prevailing market expectations on that date, applicable to the period over which the obligation is to be settled. The tax effects from this provision are detailed in Note 15 The main assumptions used to determine the benefit obligations of the Company are as follows: Defined benefit Health plan December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Discount rate (per year) 8.64% 7.20% 9.09% 7.43% Inflation rate (per year) 3.25% 3.00% 3.50% 3.50% Future salary increases (per year) N/A N/A 6.60% 6.60% Aging factor N/A N/A 3.00% N/A Increase in pension plans (per year) 3.25% 3.00% 3.00% 6.60% Overall mortality (segregated by gender) N/A N/A AT-2000 N/A Disable mortality table N/A N/A IAPB-1957 N/A Entry into disability (modified) N/A N/A UP-84 Modified N/A Turnover N/A N/A 0.60/ (services time +1) N/A Sensitivity analysis Change in the discount rate for the statement of financial position date in one of the relevant actual assumptions, while maintaining other assumptions, would have affected the defined benefit obligation as shown below: Discount rate 0.50% (0.50)% Defined benefit (28,170 ) 30,525 Health plan (25,019 ) 27,708 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, 2021 | |
Text block [abstract] | |
Share-based payment | 24. 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) Employee share scheme (Share-based compensation plan) A scheme under which share may be issued by the Company to employees for no cash consideration was approved by shareholders at the 2016 annual general meeting. 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) Cash-Settled transactions 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.A.’s shares. Any changes in the liability are recognized in profit or loss. c) Equity-settled transactions 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 years of historical data shares value of the Company and subsidiaries have been considered in setting the assumptions. 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 estimate. 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. The Company and its subsidiaries have Share-Based Compensation Plans that are settled in cash or equity. For the year ended December 31, 2021, the Group has the following share-based payment arrangements: Plans granted in 2021 Share-based payment plan (Equity-settled) On December 31, 2021, the Company established the following share-based payment arrangements: Program Vesting conditions Cosan - Investe I 3 years of service from the grant date and achievement of specific metrics that can vary between 0% and 200% (to calculate the fair value, the achievement of 100% was considered). Performance shares will have a specific weight, according to the target established by the Board of Directors. Cosan - Investe II 4 years of service from the grant date and achievement of specific metrics that can vary between 0% and 150% (to calculate the fair value, the achievement of 100% was considered). Performance shares will have a specific weight, according to the target established by the Board of Directors. Cosan - Investe III 5 years of service from the grant date with restricted shares and additional restricted shares being delivered. The restricted shares being equivalent to 25% of the participant's Long-Term Incentive Program and the additional restricted shares transferred as a result of the Company's Matching. Rumo –Special Program 2021 5 years of service from the grant date and achievement of specific metrics. Rumo - Program 2021 3 years of service from the grant date and achievement of specific metrics that can vary between 0% and 150% (to calculate the fair value, the achievement of 100% was considered). In these programs, executives are entitled to shares with consideration of R$0.01 by executives, in which the concession is conditioned to the fulfillment of certain conditions of acquisition rights. The holders of such shares have the same rights as the holders of shares not subject to a vesting condition (e.g. dividends). Share-based payment plan (Cash-settled) The subsidiary Compass has awarded a phantom share plan that provides for the granting of share 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 price. The subsidiary Moove granted a Long-Term Incentive Plan (LTIP): “Moove Phantom Shares”. It is a phantom share plan, in which a specific number of units referenced to a theoretical price of shares calculated based on the Group’s EBITDA of each year, is granted nominally to beneficiaries. The units will be paid in cash, upon fulfilment of the contractual conditions and 5 years of vesting period. Payments happen at the end of each cycle (5 years after grant date), based on the referenced converted value of the share at that time The payment forecast is being provisioned monthly based on EBITDA projections that are reviewed each quarter 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 1,096,000 (954,028 ) 141,972 July 31, 2017 Cosan S.A. 5 1,192,428 (396,848 ) 795,580 July 31, 2018 Cosan S.A. 5 842,408 (107,576 ) 734,832 July 31, 2019 Cosan S.A. 5 229,020 (20,080 ) 208,940 July 31, 2020 Cosan S.A. 5 68,972 (6,704 ) 62,268 July 31, 2021 - Invest I Cosan S.A. 3 424,839 — 424,839 September 10, 2021 - Invest II Cosan S.A. 4 5,283,275 (660,410 ) 4,622,865 October 11, 2021 - Invest III Cosan S.A. 5 809,944 — 809,944 9,946,886 (2,145,646 ) 7,801,240 April 20, 2017 Comgás 5 61,300 (61,300 ) — August 12, 2017 Comgás 5 97,780 (97,780 ) — August 1, 2018 Comgás 5 96,787 (17,761 ) 79,026 July 31, 2019 Comgás 5 83,683 (14,794 ) 68,889 February 1, 2020 Compass Gás e Energia 5 1,858,969 (1,858,969 ) — 2,198,519 (2,050,604 ) 147,915 January 2, 2017 Rumo 5 1,476,000 (1,476,000 ) — September 1, 2017 Rumo 5 870,900 (255,250 ) 615,650 August 1, 2018 Rumo 5 1,149,544 (308,417 ) 841,127 August 15, 2019 Rumo 5 843,152 (147,214 ) 695,938 November 11, 2020 Rumo 5 776,142 (115,303 ) 660,839 May 05, 2021 Rumo 5 1,481,000 (414,702 ) 1,066,298 September 15, 2021 Rumo 3 1,560,393 (8,422 ) 1,551,971 8,157,131 (2,725,308 ) 5,431,823 Share-based payment plan August 18, 2011 Cosan S.A. 1 to 12 6,006,504 (6,006,504 ) — August 31, 2015 Cosan S.A. 5 to 7 463,906 (463,906 ) — 6,470,410 (6,470,410 ) — Cash-settled transactions July 31, 2019 Moove 5 132,670 — 132,670 July 31, 2020 Moove 5 106,952 — 106,952 July 31, 2021 Moove 3 80,729 — 80,729 August 1 st 2021 Compass Gás e Energia 2 26,625 — 26,625 August 1 st 2021 Compass Comercialização 2 31,535 — 31,535 August 1 st 2021 Compass Gás e Energia 3 152,770 — 152,770 August 1 st 2021 TRSP 3 33,634 — 33,634 November 1 st 2021 Comgás 3 172,251 — 172,251 November 1 st 2021 Compass Gás e Energia 3 1,474,367 — 1,474,367 2,211,533 — 2,211,533 Total 28,984,479 (13,391,968 ) 15,592,511 Measurement of fair values The weighted average fair value of the programs granted during the financial years ended December 31, 2021 and 2020 and the principal assumptions used in applying the Black-Scholes model were as follows: Stock grant programs Cosan S.A. Rumo S.A. Comgás Compass Gás e Energia December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Key assumptions Share price at grant date 23.20 83.73 18.20 20.01 78.58 — 27.27 13.58 Risk-free interest rate 6.82% 6.94% 6.94% 6.94% 6.82% 6.94% N.A. N.A. Volatility factor 36.50% 36.50% 26.51% 36.50% 32.81% 32.81% N.A. N.A. Reconciliation of outstanding share options The movement in the number of awards outstanding and their related weighted-average exercise prices are as follows: At January 1, 2020 (i) 11,478,287 Granted (i) 3,131,000 Vested (i) (3,875,167 ) Canceled (i) (197,330 ) At December 31, 2020 (i) 10,536,790 Granted 11,531,359 Vested (6,200,231 ) Canceled (275,407 ) At December 31, 2021 15,592,511 (i) On May 6, 2021, the Company split the issued shares, in the proportion of 1:4 Expense recognized in profit or loss Share-based compensation expense included in the statement of profit and loss for the years ended December 31, 2021, 2020 and 2019 was R$84,052, R$293,011 and R$96,212, respectively. |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Subsequent events | 25. Subsequent events Subsequent material events that began before the end of the year ended December 31, 2021 and ended after that date were included in note 2 so that users of the consolidated financial statements have a better understanding of these events. Extraordinary Shareholders’ Meeting On April 29, 2022, the Extraordinary Shareholders’ Meeting approved a capital increase in the amount of R$2,036,691 and the increase in the Company’s authorized capital to up to R$9,000,000. Conclusion of the Acquisition of the Lubricants Business by Raízen On May 2, 2022, Raízen concluded the total acquisition of the lubrificants business of Shell Brasil Petróleo Ltda. Cosan’s fourth debenture issuance On May 6, 2022, Cosan issued debentures in an aggregate principal amount of R$1,500,000 divided into two tranches. The first tranche is in an aggregate principal amount of R$400,000, accrues interest at a rate equal to the CDI plus 1.50 1.90 Share buyback program On May 9, 2022, our board of directors approved a new share buyback program pursuant to which up to 110,000,000 common shares of Cosan S.A. representing 5.87% of our total shares may be repurchased over a period of 18 |
Recent accounting developments
Recent accounting developments adopted by the Company | 12 Months Ended |
Dec. 31, 2021 | |
Recent accounting developments adopted by the Company [abstract] | |
Recent accounting developments adopted by the Company | 26. 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. For phase 1 and 2, 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, 2021, were not applicable or material to the Company. |
New standards and interpretatio
New standards and interpretations not yet effective | 12 Months Ended |
Dec. 31, 2021 | |
New standards and interpretations not yet effective [abstract] | |
New standards and interpretations not yet effective | 27. 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, 2021. 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, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Effective from the year ended December 31, 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 Insurance Contracts 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, 2022, onwards are not applicable or material to the Company. |
Accounting policies (Policies)
Accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Functional and presentation currency | 4.1 Functional and presentation currency The consolidated financial statements are presented in Brazilian reais. However, the functional currency of Cosan Limited (the predecessor of the Company) is the U.S. dollar. The functional currency of Cosan S.A. is the Brazilian reais, which is the currency of the primary economic environment in which Cosan S.A. and its subsidiaries and jointly-controlled entity, located in Brazil, operate and generate and expend cash. The functional currency of subsidiaries located outside Brazil is the U.S. dollar, British pound or the Euro. All amounts have been rounded to the nearest thousand, unless otherwise indicated. Monetary assets and liabilities denominated and calculated in foreign currencies on the balance sheet date are reconverted to the functional currency at the exchange rate on that date. Non-monetary assets and liabilities that are measured at fair value in a foreign currency are reconverted to the functional currency at the exchange rate on the date the fair value was determined. Non-monetary items that are measured at historical cost in a foreign currency are translated at the exchange rate on the transaction date. Foreign currency differences resulting from translation are generally recognized in profit or loss. The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on acquisition, are translated into Brazilian reais at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into Brazilian reais at the exchange rates at the dates of the transactions. Foreign currency differences are recognized and presented in other comprehensive income in shareholders' 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 control, loss or significant influence is lost, the accumulated 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. |
Use of judgments and estimates | 4.2 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 6.3 – Trade receivables Note 6.7 – Leases Note 6.9 – Sector financial assets and liabilities Note 6.11 – Recognized fair value measurements Note 10 – Investments in joint venture Notes 11.1 e 11.2 – Property, plant and equipment, intangible assets and goodwill Note 11.5 – Investment property Note 12 – Commitments Note 15 – Income tax Note 16 – Provision for legal proceedings Note 23 – Post-employment benefits Note 24 – Share-based payments |
Basis of accounting (Tables)
Basis of accounting (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Basis of accounting | |
Schedule of change in accounting policy | December 31, 2020 Reclassification December 31, 2020 (restated) Net sales 20,437,835 — 20,437,835 Cost of sales (14,501,725 ) (498,098 ) (14,999,823 ) Gross profit 5,936,110 (498,098 ) 5,438,012 Selling expenses (959,146 ) 297,239 (661,907 ) General and administrative expenses (1,790,678 ) 200,859 (1,589,819 ) Other income, net 176,869 — 176,869 Operating expenses (2,572,955 ) 498,098 (2,074,857 ) Profit before equity in earnings of investees, finance results and income taxes 3,363,155 — 3,363,155 Equity in earnings of investees 611,802 — 611,802 Finance results, net (1,983,996 ) — (1,983,996 ) Profit before income taxes 1,990,961 — 1,990,961 Income taxes (502,667 ) — (502,667 ) Profit for the year 1,488,294 — 1,488,294 December 31, 2019 Reclassification December 31, 2019 (restated) Net sales 20,611,409 — 20,611,409 Cost of sales (14,160,233 ) (456,752 ) (14,616,985 ) Gross profit 6,451,176 (456,752 ) 5,994,424 Selling expenses (1,122,866 ) 456,752 (666,114 ) General and administrative expenses (1,236,062 ) — (1,236,062 ) Other income, net 404,686 — 404,686 Operating expenses (1,954,242 ) 456,752 (1,497,490 ) Profit before equity in earnings of investees, finance results and income taxes 4,496,934 — 4,496,934 Equity in earnings of investees 1,132,637 — 1,132,637 Finance results, net (1,967,623 ) — (1,967,623 ) Profit before income taxes 3,661,948 — 3,661,948 Income taxes (779,596 ) — (779,596 ) Profit from discontinued operation, net of tax 11,021 — 11,021 Profit for the year 2,893,373 — 2,893,373 |
Accounting policies (Tables)
Accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Schedule of Exchange Rates of Real for Functional Currencies of Subsidiaries | The following table set forth the exchange rate, expressed in reais (R$) per U.S. dollar (U.S.$), British pound (£) and Euro (€), as reported by the Central Bank of Brazil (Banco Central do Brasil), “BACEN,” for the years indicated: Currency December 31, 2021 December 31, 2020 December 31, 2019 U.S. dollar (U.S.$) 5.581 5.197 4.031 British pound (£) 7.524 7.101 5.325 Euro (€) 6.321 6.378 4.531 |
Segment information (Tables)
Segment information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Selected information by segment | December 31, 2021 Reported Segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Investments Cosan Corporate Deconsolidated effects Segment elimination Consolidated Statement of profit or loss Gross sales 188,825,984 15,711,939 7,697,074 7,944,312 32,695 9,002 (188,825,984 ) (57,091 ) 31,337,931 Domestic market (i) 182,035,680 15,711,939 7,021,757 7,606,966 32,695 9,002 (182,035,680 ) (57,091 ) 30,325,268 External market (i) 6,790,304 — 675,317 337,346 — — (6,790,304 ) — 1,012,663 Net sales 175,047,270 12,330,209 6,112,457 7,439,632 31,502 8,292 (175,047,270 ) (57,091 ) 25,865,001 Cost of sales (163,367,574 ) (9,755,425 ) (4,808,643 ) (5,352,040 ) — (5,231 ) 163,367,574 57,091 (19,864,248 ) Gross profit 11,679,696 2,574,784 1,303,814 2,087,592 31,502 3,061 (11,679,696 ) — 6,000,753 Selling expenses (3,882,690 ) (125,412 ) (551,520 ) (38,959 ) — (7,528 ) 3,882,690 — (723,419 ) General and administrative expenses (1,788,180 ) (502,048 ) (269,810 ) (472,739 ) (6,499 ) (321,261 ) 1,788,180 — (1,572,357 ) Other income (expenses), net 717,792 25,569 23,414 (69,017 ) 21,017 381,617 (717,792 ) — 382,600 Interest in earnings of associates (43,534 ) — — 12,857 — 2,195,679 43,534 (2,078,311 ) 130,225 Interest in earnings of joint ventures — — — — — 4,590,631 — — 4,590,631 Finance results, net (1,967,124 ) (289,616 ) (63,797 ) (1,359,940 ) 3,199 (847,403 ) 1,967,124 — (2,557,557 ) Finance expense (1,606,724 ) (900,783 ) (61,870 ) (705,623 ) (51 ) (859,179 ) 1,606,724 — (2,527,506 ) Finance income 580,266 703,204 58,071 399,134 3,250 94,782 (580,266 ) — 1,258,441 Foreign exchange, net (1,076,722 ) (60,953 ) (66,118 ) (489,952 ) — (482,513 ) 1,076,722 — (1,099,536 ) Derivatives 136,056 (31,084 ) 6,120 (563,499 ) — 399,507 (136,056 ) — (188,956 ) Income taxes (1,350,252 ) 59,360 (147,138 ) (4,053 ) (4,215 ) 541,630 1,350,252 — 445,584 Profit for the year 3,365,708 1,742,637 294,963 155,741 45,004 6,536,426 (3,365,708 ) (2,078,311 ) 6,696,460 Profit (loss) attributable to: Owners of the Company 3,379,014 1,650,725 205,139 150,539 22,502 6,361,546 (3,379,014 ) (2,078,311 ) 6,312,140 Non-controlling interests (13,306 ) 91,912 89,824 5,202 22,502 174,880 13,306 — 384,320 3,365,708 1,742,637 294,963 155,741 45,004 6,536,426 (3,365,708 ) (2,078,311 ) 6,696,460 Other select data Depreciation and amortization 6,393,642 559,994 96,852 1,830,683 39 16,818 (6,393,642 ) (2 ) 2,504,384 EBITDA 13,076,726 2,532,887 602,750 3,350,417 46,059 6,859,017 (13,076,726 ) (2,078,313 ) 11,312,817 Additions to PP&E, intangible and contract asset 5,282,100 1,269,886 42,536 3,453,407 278 8,732 (5,282,100 ) — 4,774,839 Reconciliation of EBITDA Profit for the year 3,365,708 1,742,637 294,963 155,741 45,004 6,536,426 (3,365,708 ) (2,078,311 ) 6,696,460 Income taxes 1,350,252 (59,360 ) 147,138 4,053 4,215 (541,630 ) (1,350,252 ) — (445,584 ) Finance results, net 1,967,124 289,616 63,797 1,359,940 (3,199 ) 847,403 (1,967,124 ) — 2,557,557 Depreciation and amortization 6,393,642 559,994 96,852 1,830,683 39 16,818 (6,393,642 ) (2 ) 2,504,384 EBITDA 13,076,726 2,532,887 602,750 3,350,417 46,059 6,859,017 ( 13,076,726 ) ( 2,078,313 ) 11,312,817 (i) December 31, 2020 (Restated) Reported Segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Corporate Deconsolidated effects Segment elimination Consolidated Statement of profit or loss Gross sales 127,832,718 12,024,615 5,588,754 7,349,804 880 (127,832,718 ) (37,887 ) 24,926,166 Domestic market (i) 117,788,563 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 118,049,722 9,093,170 4,415,575 6,966,159 818 (118,049,722 ) (37,887 ) 20,437,835 Cost of sales (110,800,498 ) (6,932,288 ) (3,380,304 ) (4,721,507 ) (3,611 ) 110,800,498 37,887 (14,999,823 ) Gross profit 7,249,224 2,160,882 1,035,271 2,244,652 (2,793 ) (7,249,224 ) — 5,438,012 Selling expenses (3,264,756 ) (156,892 ) (471,829 ) (30,670 ) (2,516 ) 3,264,756 — (661,907 ) General and administrative expenses (1,263,733 ) (376,615 ) (229,672 ) (411,336 ) (572,196 ) 1,263,733 — (1,589,819 ) Other income (expenses), net 554,126 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 (87,567 ) — — — 583,001 87,567 — 583,001 Finance results, net (1,431,267 ) (282,773 ) (129,342 ) (1,503,221 ) (68,660 ) 1,431,267 — (1,983,996 ) Finance expense (2,345,771 ) (374,252 ) (30,910 ) (2,920,241 ) (1,402,158 ) 2,345,771 — (4,727,561 ) Finance income 690,678 72,500 20,086 177,206 137,918 (690,678) — 407,710 Foreign exchange, net (3,821,462 ) (150,227 ) (161,636 ) (1,577,342 ) (1,369,451 ) 3,821,462 — (3,258,656 ) Derivatives 4,045,288 169,206 43,118 2,817,156 2,565,031 (4,045,288 ) — 5,594,511 Income taxes (537,004 ) (460,312 ) (87,941 ) (169,990 ) 215,576 537,004 — (502,667 ) Profit for the year 1,130,700 940,466 151,363 270,910 1,856,810 (1,130,700 ) (1,731,255 ) 1,488,294 Profit attributable to: Owners of the Company 1,081,176 923,420 104,570 43,602 1,519,145 (1,081,176 ) (1,731,255 ) 859,482 Non-controlling interests 49,524 17,046 46,793 227,308 337,665 (49,524 ) — 628,812 1,130,700 940,466 151,363 270,910 1,856,810 (1,130,700 ) (1,731,255 ) 1,488,294 Other select data Depreciation and amortization 5,059,239 500,714 108,687 1,715,527 15,926 (5,059,239 ) — 2,340,854 EBITDA 8,158,210 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 3,159,415 1,006,881 29,658 2,979,213 18,936 (3,159,415 ) — 4,034,688 Reconciliation of EBITDA Profit for the year 1,130,700 940,466 151,363 270,910 1,856,810 (1,130,700 ) (1,731,255 ) 1,488,294 Income taxes 537,004 460,312 87,941 169,990 (215,576 ) (537,004 ) — 502,667 Finance results, net 1,431,267 282,773 129,342 1,503,221 68,660 (1,431,267 ) — 1,983,996 Depreciation and amortization 5,059,239 500,714 108,687 1,715,527 15,926 (5,059,239 ) — 2,340,854 EBITDA 8,158,210 2,184,265 477,333 3,659,648 1,725,820 (8,158,210 ) (1,731,255 ) 6,315,811 (i) December 31, 2019 (Restated) Reported segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Corporate Deconsolidated effects Segment elimination Consolidated Statement of profit or loss Gross sales 140,230,052 12,007,634 5,072,163 7,473,730 106 (140,230,052 ) (37,047 ) 24,516,586 Domestic market (i) 132,455,731 12,007,634 4,948,678 7,232,158 106 (132,455,731 ) (37,047 ) 24,151,529 External market (i) 7,774,321 — 123,485 241,572 — (7,774,321 ) — 365,057 Net sales 129,349,463 9,514,222 4,046,296 7,087,840 98 (129,349,463 ) (37,047 ) 20,611,409 Cost of sales (122,429,335 ) (6,859,090 ) (3,185,745 ) (4,608,781 ) (416 ) 122,429,335 37,047 (14,616,985 ) Gross profit 6,920,128 2,655,132 860,551 2,479,059 (318 ) (6,920,128 ) — 5,994,424 Selling expenses (3,069,304 ) (157,740 ) (492,482 ) (6,983 ) (8,909 ) 3,069,304 — (666.114 ) General and administrative expenses (1,232,666 ) (404,441 ) (173,212 ) (364,555 ) (293,854 ) 1,232,666 — (1,236,062 ) Other income (expenses), net 2,021,001 (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 (7,206 ) — — — 1,131,406 7,206 — 1,131,406 Finance results, net (1,296,237 ) (180,381 ) (96,794 ) (1,197,817 ) (492,631 ) 1,296,237 — (1,967,623 ) Finance expense (2,180,426 ) (495,958 ) (38,514 ) (1,871,221 ) (1,284,885 ) 2,180,426 — (3,690,578 ) Finance income 767,336 315,634 22,385 202,875 433,710 (767,336 ) — 974,604 Foreign exchange, net (571,377 ) (27,518 ) (92,989 ) (205,839 ) (200,600 ) 571,377 — (526,946 ) Derivatives 688,230 27,461 12,324 676,368 559,144 (688,230 ) — 1,275,297 Income taxes (923,156 ) (588,389 ) (55,206 ) (129,247 ) (6,754 ) 923,156 — (779,596 ) Profit from continuing operations 2,527,728 1,292,647 75,102 778,249 3,580,352 (2,527,728 ) (2,843,998 ) 2,882,352 Profit from discontinued operation, net of tax — — — — 11,021 — — 11,021 Profit for the year 2,527,728 1,292,647 75,102 778,249 3,591,373 (2,527,728 ) (2,843,998 ) 2,893,373 Profit attributable to: Owners of the Company 2,399,076 1,255,369 72,971 157,216 3,586,632 (2,399,076 ) (3,755,847 ) 1,316,341 Non-controlling interests 128,652 37,278 2,131 621,033 4,741 (128,652 ) 911,849 1,577,032 2,527,728 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 3,625,854 459,584 97,827 1,716,185 14,281 (3,625,854 ) — 2,287,877 EBITDA 8,372,975 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 and contract asset 3,586,261 775,769 32,854 1,943,063 11,251 (3,586,261 ) — 2,762,937 Reconciliation of EBITDA Profit for the year 2,527,728 1,292,647 75,102 778,249 3,580,352 (2,527,728 ) (2,843,998 ) 2,882,352 Income taxes 923,156 588,389 55,206 129,247 6,754 (923,156 ) — 779,596 Finance results, net 1,296,237 180,381 96,794 1,197,817 492,631 (1,296,237 ) — 1,967,623 Depreciation and amortization 3,625,854 459,584 97,827 1,716,185 14,281 (3,625,854 ) — 2,287,877 EBITDA 8,372,975 2,521,001 324,929 3,821,498 4,094,018 (8,372,975 ) (2,843,998 ) 7,917,448 (i) December 31, 2021 Reported segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Investments Cosan Corporate Deconsolidated effects Segment elimination Consolidated Statement of financial position Assets 110,136,182 19,982,611 4,850,344 48,174,556 4,484,805 35,054,649 (110,136,182 ) (14,704,942 ) 97,842,023 Cash and cash equivalents 5,034,788 3,562,358 1,059,866 9,448,193 7,468 2,096,245 (5,034,788 ) — 16,174,130 Marketable securities 154,052 1,876,006 129,390 1,425,897 46,094 910,620 (154,052 ) — 4,388,007 Trade receivables 7,618,176 1,427,720 605,928 503,316 207,761 1,128 (7,618,176 ) — 2,745,853 Derivative financial instruments 11,805,548 358,456 26,513 1,674,821 — 2,673,136 (11,805,548 ) — 4,732,926 Inventories 14,297,068 129,554 790,825 228,923 — 2 (14,297,068 ) — 1,149,304 Sector financial assets — 558,310 — — — — — — 558,310 Other financial assets 261,412 — 466 — 319,728 (1 ) (261,412 ) — 320,193 Other current assets 12,545,650 340,909 298,004 747,308 13,470 1,599,793 (12,545,650 ) (668,152 ) 2,331,332 Other non-current assets 8,562,180 1,370,964 246,934 3,197,105 354 2,180,558 (8,562,180 ) (240,673 ) 6,755,242 Investments in associates — — — 57,844 — 14,518,340 — (13,796,117 ) 780,067 Investments in joint ventures 1,317,720 — — — — 10,936,663 (1,317,720 ) — 10,936,663 Biological assets 3,106,744 — — — — — (3,106,744 ) — — Investment properties — — — — 3,886,696 — — — 3,886,696 Contract asset 2,941,390 684,970 21,011 1 — — (2,941,390 ) — 705,982 Right-of-use assets 10,758,442 73,220 51,458 7,784,941 3,203 34,445 (10,758,442 ) — 7,947,267 Property, plant and equipment 22,506,160 271,490 334,065 15,974,562 31 68,405 (22,506,160 ) — 16,648,553 Intangible assets and goodwill 9,226,852 9,328,654 1,285,884 7,131,645 — 35,315 (9,226,852 ) — 17,781,498 Liabilities ( 84,736,772 ) (13,609,495 ) (2,564,187 ) (33,156,493 ) (246,599 ) (20,305,063 ) 84,736,772 909,836 (68,972,001 ) Loans, borrowings and debentures (26,967,092 ) (7,667,987 ) (831,148 ) (21,178,748 ) — (15,981,154 ) 26,967,092 — (45,659,037 ) Derivative financial instruments (12,377,276 ) (357,932 ) — (576,749 ) — (141,480 ) 12,377,276 — (1,076,161 ) Trade payables (15,678,442 ) (1,798,977 ) (828,690 ) (618,658 ) (1,006 ) (6,173 ) 15,678,442 — (3,253,504 ) Employee benefits payable (788,948 ) (104,404 ) (132,158 ) (255,963 ) — (60,466 ) 788,948 — (552,991 ) Sector financial liabilities — (1,372,283 ) — — — — — — (1,372,283 ) Other current liabilities (9,591,918 ) (472,592 ) (349,967 ) (1,384,611 ) (48,739 ) (1,384,091 ) 9,591,918 148,171 (3,491,829 ) Leases (10,685,524 ) (63,752 ) (53,436 ) (3,106,883 ) (3,253 ) (40,358 ) 10,685,524 — (3,267,682 ) Other non-current liabilities (8,647,572 ) (1,771,568 ) (368,788 ) (6,034,881 ) (193,601 ) (2,691,341 ) 8,647,572 761,665 (10,298,514 ) Total assets (net of liabilities) allocated by segment 25,399,410 6,373,116 2,286,157 15,018,063 4,238,206 14,749,587 (25,399,410 ) (13,795,107 ) 28,870,022 Equity attributable to: Owners of the Company 23,870,251 5,585,768 1,599,949 4,479,944 2,119,104 14,751,279 (23,870,251 ) (13,795,107 ) 14,740,937 Non-controlling interests 1,529,159 787,348 686,208 10,538,119 2,119,102 (1,692 ) (1,529,159 ) — 14,129,085 Total shareholders’ equity 25,399,410 6,373,116 2,286,157 15,018,063 4,238,206 14,749,587 (25,399,410 ) (13,795,107 ) 28,870,022 December 31, 2020 (restated) Reported segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Corporate Deconsolidated effects Segment elimination Consolidated Statement of financial position Assets 67,942,010 15,027,675 4,439,453 45,912,604 33,324,494 (67,942,010 ) (14,990,661 ) 83,713,565 Cash and cash equivalents 3,422,828 1,899,533 936,345 7,778,612 3,028,428 (3,422,828 ) — 13,642,918 Marketable securities 19,086 1,188,625 168,066 1,396,723 915,695 (19,086 ) — 3,669,109 Trade receivables 4,265,294 1,121,612 483,227 428,492 110 (4,265,294 ) — 2,033,441 Derivative financial instruments 6,064,604 517,181 28,463 3,988,524 3,606,532 (6,064,604 ) — 8,140,700 Inventories 8,317,566 121,064 564,836 249,318 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 5,761,106 276,139 146,166 685,659 1,938,096 (5,761,106 ) (764,392 ) 2,281,668 Other non-current assets 5,225,978 169,905 398,796 2,613,480 1,566,428 (5,225,978 ) (410,191 ) 4,338,418 Investments in associates — — — 50,715 14,149,214 — (13,816,078 ) 383,851 Investments in joint ventures 1,305,790 — — — 7,988,208 (1,305,790 ) — 7,988,208 Biological assets 1,073,582 — — — — (1,073,582 ) — — Contract asset 2,860,658 686,690 9,248 — — (2,860,658 ) — 695,938 Right-of-use assets 5,210,366 19,865 39,550 7,823,401 33,414 (5,210,366 ) — 7,916,230 Property, plant and equipment 18,165,518 15,326 327,535 13,646,248 79,397 (18,165,518 ) — 14,068,506 Intangible assets and goodwill 6,089,034 8,769,986 1,268,095 7,251,432 18,926 (6,089,034 ) — 17,308,439 Liabilities (51,528,998 ) (11,681,752 ) (2,473,884 ) (32,359,866 ) (17,553,779 ) 51,528,998 1,174,583 (62,894,698 ) Loans, borrowings and debentures (24,557,518 ) (7,043,909 ) (802,938 ) (21,656,908 ) (12,745,705 ) 24,557,518 — (42,249,460 ) Derivative financial instruments (3,088,300 ) (286,018 ) (348 ) — (159,695 ) 3,088,300 — (446,061 ) Trade payables (9,311,282 ) (1,182,111 ) (688,139 ) (754,546 ) (5,258 ) 9,311,282 — (2,630,054 ) Employee benefits payable (534,376 ) (74,543 ) (96,192 ) (139,058 ) (26,673 ) 534,376 — (336,466 ) Sector financial liabilities — (565,911 ) — — — — — (565,911 ) Other current liabilities (4,094,274 ) (662,779 ) (290,827 ) (950,582 ) (2,006,371 ) 4,094,274 204,366 (3,706,193 ) Preferred shareholders payable in subsidiaries — — — — (387,044 ) — — (387,044 ) Leases (4,734,766 ) (10,320 ) (41,299 ) (2,912,317 ) (37,911 ) 4,734,766 — (3,001,847 ) Other non-current liabilities (5,208,482 ) (1,856,161 ) (554,141 ) (5,946,455 ) (2,185,122 ) 5,208,482 970,217 (9,571,662 ) Total assets (net of liabilities) allocated by segment 16,413,012 3,345,923 1,965,569 13,552,738 15,770,715 (16,413,012 ) (13,816,078 ) 20,818,867 Equity attributable to: Owners of the Company 16,129,497 3,288,315 1,367,157 2,150,052 12,270,637 (16,129,497 ) (13,816,078 ) 5,260,083 Non-controlling interests 283,515 57,608 598,412 11,402,686 3,500,078 (283,515 ) — 15,558,784 Total shareholders’ equity 16,413,012 3,345,923 1,965,569 13,552,738 15,770,715 (16,413,012 ) (13,816,078 ) 20,818,867 |
Summary of net sales by customer by segment | 5.1 Net sales to external customers by product/customer December 31, 2021 December 31, 2020 (restated) December 31, 2019 (restated) Reported segment Raízen Ethanol 27,464,271 19,625,060 20,286,705 Sugar 13,946,480 10,241,141 3,925,499 Gasoline 55,158,035 36,127,017 46,140,529 Diesel 71,828,092 46,967,219 51,522,023 Cogeneration 3,968,947 2,282,158 3,934,639 Other 7,288,547 2,807,127 3,540,068 Intercompany elimination (i) (4,607,102 ) — — 175,047,270 118,049,722 129,349,463 Gas and Power Natural gas distribution Industrial 7,386,258 5,030,738 6,045,600 Residential 1,610,286 1,381,597 1,295,107 Cogeneration 637,489 389,732 437,327 Automotive 364,664 220,130 350,637 Commercial 448,615 350,760 507,550 Construction revenue 1,020,176 885,630 813,341 Other 242,226 59,104 64,660 11,709,714 8,317,691 9,514,222 Electricity trading 620,495 775,479 — 12,330,209 9,093,170 9,514,222 Moove Finished goods 5,088,102 3,891,551 3,786,636 Base oil 457,991 392,153 194,353 Services 566,364 131,871 65,307 6,112,457 4,415,575 4,046,296 Logistics North operations 5,479,583 5,270,436 5,313,757 South operations 1,624,084 1,409,872 1,478,314 Container operations 335,965 285,851 295,769 7,439,632 6,966,159 7,087,840 Cosan Investments Land leases 31,502 — — 31,502 — — Reconciliation Cosan Corporate 8,292 818 98 Deconsolidated effects and eliminations (175,104,361 ) (118,087,609 ) (129,386,510 ) Total 25,865,001 20,437,835 20,611,409 (i) On June 1, 2021, Raízen S.A. started to consolidate Raízen Energia and, therefore, the balances between the entities are presented net. |
Summary of Information on Geographical Area | 5.2 Information on geographical area Net sales Non-current assets December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 Brazil 22,529,634 18,100,012 18,522,108 12,551,261 12,577,376 Europe (i) 2,551,739 1,867,284 1,719,262 10,515 11,401 Latin America (ii) 632,235 360,798 184,981 6,320 24,684 North America 81,384 62,760 157,665 — — Asia and other 70,009 46,981 27,393 — — Total 25,865,001 20,437,835 20,611,409 12,568,096 12,613,461 Main countries: (i) England, France, Spain and Portugal; and (ii) Argentina, Bolívia, Uruguay and Paraguay. |
Financial assets and liabilit_2
Financial assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial assets and liabilities | |
Summary of Carrying Amount of Financial Assets and Liabilities | The carrying amount of financial assets and financial liabilities are as follows: Note December 31, 2021 December 31, 2020 Assets Fair value through profit or loss Cash and cash equivalents 6.1 8,103,713 2,155,446 Marketable securities 6.2 4,388,007 3,669,109 Other financial assets 6.4 320,193 69,126 Derivate financial instruments 6.10 4,732,926 8,140,700 17,544,839 14,034,381 Amortized cost Cash and cash equivalents 6.1 8,070,417 11,487,472 Trade receivables 6.3 2,745,853 2,033,441 Restricted cash 6.2 58,990 34,562 Receivables from related parties 6.5 416,491 929,690 Sector financial assets 6.9 558,310 241,749 Dividend receivable 519,965 80,755 12,370,026 14,807,669 Total assets 29,914,865 28,842,050 Liabilities Amortized cost Loans, borrowings and debentures 6.6 (25,444,437 ) (23,393,880 ) Leases 6.7 (3,267,678 ) (3,001,847 ) Trade payables 6.8 (3,253,504 ) (2,630,054 ) Consideration payable (234,960 ) (224,787 ) Other financial liabilities (i) (726,423 ) (594,188 ) Payables to related parties 6.5 (287,609 ) (307,080 ) Railroad concession payable 13 (3,054,248 ) (1,154,919 ) Preferred shareholders payable in subsidiaries — (387,044 ) Dividends payable (799,634 ) (1,413,222 ) Sector financial liabilities 6.9 (1,372,283 ) (565,911 ) Tax installments - REFIS 15 (200,664 ) (202,377 ) (38,641,440 ) (33,875,309 ) Fair value through profit or loss Loans, borrowings and debentures 6.6 (20,214,600 ) (18,855,580 ) Derivative financial instruments 6.10 (1,076,161 ) (446,061 ) (21,290,761 ) (19,301,641 ) Total liabilities (59,932,201 ) (53,176,950 ) (i) The balance substantially presented comes from the subsidiary Rumo and refers to amounts that were advanced by its suppliers with financial institutions. As of December 31, 2021 the balance was R$576,786 (R$413,470 as of December 31, 2020). These operations had Banco Itaú and Banco Bradesco as counterparties, at an average rate of 10.60% p.a. (3.00% p.a. on December 31, 2020). The average payment term of these operations is around 90 days. |
Summary of Cash and Cash Equivalents | December 31, 2021 December 31, 2020 Cash and bank accounts 98,116 4,134,074 Savings account 2,594,723 986,379 Financial investments 13,481,291 8,522,465 16,174,130 13,642,918 |
Summary of Financial Investments | Financial investments include the following: December 31, 2021 December 31, 2020 Investment fund Repurchase agreements 1,680,328 1,672,688 Bank certificate of deposits 6,423,385 475,213 Other — 7,545 8,103,713 2,155,446 Bank investments Repurchase agreements (i) 974,494 1,293,833 Bank certificate of deposits (ii) 2,321,614 5,015,244 Other (iii) 2,081,470 57,942 5,377,578 6,367,019 13,481,291 8,522,465 |
Summary of marketable securities and restricted cash | December 31, 2021 December 31, 2020 Marketable securities Government security (i) 4,371,645 3,543,886 CDB 1,051 116,963 ESG funds (ii) 15,311 — Repurchase agreements — 8,260 4,388,007 3,669,109 Restricted cash Securities pledged as collateral 58,990 34,562 58,990 34,562 (i) Government securities have stated interest connected to Special System for Settlement and Custody ( Sistema Especial de Liquidação e de Custódia ), or “ ,” with a return of approximately 100% of the CDI (ii) On October 6, 2021, the Company invested in the Fifth Wall Climate Tech Fund, from the United States, as an investor and partner in a business that also gives preferential access to investments in startups developing carbon solutions. The investment is measured at fair value through profit or loss maturing in 5 years. |
Summary of Trade Receivables | December 31, 2021 December 31, 2020 Domestic – Brazilian reais 1,810,867 1,432,805 Export – foreign currency 74,450 68,867 Unbilled receivables (i) 975,588 667,793 2,860,905 2,169,465 Expected credit losses (115,052 ) (136,024 ) 2,745,853 2,033,441 Current 2,580,776 2,007,140 Non-current 165,077 26,301 2,745,853 2,033,441 (i) Unbilled revenue refers to the part of the gas supply in the month, whose measurement and billing have not yet been carried out. |
Summary of Ageing analysis of Trade Receivables | The aging of trade receivables is as follows: December 31, 2021 December 31, 2020 Not overdue 2,484,633 1,814,202 Overdue: From 1 to 30 days 206,244 166,467 From 31 to 60 days 21,130 23,169 From 61 to 90 days 22,351 14,156 More than 90 days 126,547 151,471 Expected credit losses (115,052 ) (136,024 ) 2,745,853 2,033,441 |
Summary of Changes in Allowance for Doubtful Accounts | Changes in the expected credit losses are as follows: At January 1, 2020 (120,407 ) Provision / reversal (39,187 ) Write-off 23,570 At December 31, 2020 (136,024 ) Provision / reversal (10,762 ) Foreign exchange (340 ) Write-off 32,074 At December 31, 2021 (115,052 ) |
Schedule of other financial assets | The balance of other financial assets is composed as following: December 31, 2021 December 31, 2020 Tellus and Janus shares (i) 319,727 — Other financial assets (ii) 466 69,126 320,193 69,126 Current 466 69,126 Non-current 319,727 — 320,193 69,126 (i) The subsidiary Radar S.A. holds investments in preferred shares issued by its related parties S.A. (“ ”) and Janus S.A. (“Janus”), which also buy, sell and rent investment properties. These investments represent 5 % of the preferred shares issued by the and Janus companies. The Company and the other shareholders are entitled to receive 90 % of the proposed annual dividends. Investments are redeemable when the entities sell the investment properties, which are valued on a quarterly basis, according to fair market value. Securities are classified as financial instruments at fair value through other comprehensive income. (ii) On March 31, 2020, Lubes Investments Limited (“CLI”) received R$ 65,478 due to the satisfaction of the precedent conditions on December 31, 2019, as provided for in the investment agreement between the Company and CVC Fund VII (“CVC”). On April 15, 2021, the updated amount of R$ 69,155 was paid, according to the line “Receipt of consideration asset” in the cash flow. |
Summary of Receivables from and Payables to Related Parties | a) Summary of balances with related parties December 31, 2021 December 31, 2020 Current assets Corporate / agreement operations Raízen Energia S.A. (i) 38,710 73,913 Termag - Terminal Marítimo de Guarujá S.A. 14,286 — Aguassanta Participações S.A. 2,956 837 Raízen S.A. (i) 15,489 11,171 Other 361 17,171 71,802 103,092 Financial operations Raízen Energia S.A. (i) 8,933 — Raízen S.A. (i) 45 — Rio Minas Mineração S.A. 17,500 — Aguassanta Participações S.A. (ii) — 576,957 26,478 576,957 Total current assets 92,280 680,049 Non-current assets Corporate / agreement operations Raízen S.A. (i) 47,732 45,895 Termag - Terminal Marítimo de Guarujá S.A. 64,286 — Other — 48,571 112,018 94,466 Preferred shares Raízen Energia S.A. (i) 205,958 155,175 Other 235 — 206,193 155,175 Total non-current assets 318,211 249,641 Total assets 416,491 929,690 Current liabilities Corporate / agreement operations Raízen Energia S.A. (i) 50,289 146,722 Raízen S.A. (i) 171,084 154,366 Other 6,365 1,158 227,738 302,246 Financial operations Raízen S.A. (i) 11,959 — Raízen Energia S.A. (i) 47,912 4,834 59,871 4,834 Total liabilities 287,609 307,080 (i) Current and non-current assets receivable from and S.A. are, primarily, tax credits which will be reimbursed to the Company when realized. The preferred shares are used to reimburse , with preferential dividends, when the net operating loss is consumed in . Current liabilities represent reimburse to and related to expenses regarding legal disputes and other liabilities, generated before the formation of joint ventures, which are responsibility of S.A. (ii) On December 11, 2020, the Company disposed of 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, 2021 December 31, 2020 December 31, 2019 Revenue Raízen International Universal Corporation — 5,143 — Raízen Energia 469,053 483,934 298,980 Raízen S.A. 210,447 186,359 221,369 Other — 268 7,010 679,500 675,704 527,359 Purchase of goods / inputs / services Raízen Energia (32,153 ) (6,160 ) (7,010 ) Raízen S.A. (1,543,917 ) (1,130,531 ) (1,240,781 ) Other — (939 ) — (1,576,070 ) (1,137,630 ) (1,247,791 ) Shared expense Raízen Energia (73,831 ) (81,018 ) (71,978 ) (73,831 ) (81,018 ) (71,978 ) Financial result Usina Santa Luiza S.A. — — (41 ) Raízen Energia 139 4 — Raízen S.A. 4,798 6,341 5,729 Other — 47 (5 ) 4,937 6,392 5,683 Total (965,464 ) (536,552 ) (786,727 ) |
Summary of Officers' and Directors' Compensation | December 31, 2021 December 31, 2020 December 31, 2019 Short-term benefits to officers and directors 177,405 102,250 88,440 Share-based payment transactions 68,209 15,441 16,823 Long-term benefits to officers and directors 5,863 — — Post-employment benefits 750 1,045 728 252,227 118,736 105,991 |
Summary of Carrying Amounts of Loans, Borrowings and Debentures | Description Index Annual interest rate December 31, 2021 December 31, 2020 Maturity Objective Secured BNDES URTJLP 7.49% 2,598,623 3,321,839 Dec-2029 Investment Fixed 5.69% 461,756 647,435 Jan-2025 Investment IPCA 7.46% — 796 Nov-2021 Investment IPCA 11.08% 646,624 — Jan-2048 Investment Fixed 3.50% 727 1,077 Jan-2024 Investment URTJLP 10.34% — 396 Mar-2022 Investment IPCA + 3.25 13.60% 945,663 807,438 Apr-2029 Investment IPCA + 4.10 14.53% 154,843 175,374 Apr-2029 Investment Export credit agreement Euribor + 0.58 0.58% 95,460 104,108 Sep- 2026 Investment CDI + 1.03 10.79% 86,707 — Feb-2023 Investment CDI + 2.25 12.28% 60,700 — May-2026 Investment CDI + 0.80 10.02% 515,928 — Dec-2023 Investment Resolution 4,131 U.S.$ 0.90% 148,932 — Nov-2022 Working Capital Debentures CDI + 1.79 11.10% 753,770 — Jun-2027 Investment CDI + 1.30 10.57% 746,725 — Oct-2027 Investment IPCA + 4.77 15.27% 694,898 — Jun-2031 Investment European investment bank U.S.$ + Libor 6 0.54 0.80% — 30,817 May-2021 Investment U.S.$ + Libor 6 0.61 0.80% — 57,813 Sep- 2021 Investment 7,911,356 5,147,093 Unsecured Foreign loans GBP + Libor 6-month + 1.50% 1.68% — 143,039 Jul-2021 Working capital GBP | Fixed 1.40% 37,674 35,556 Nov-2022 Working capital GBP + Libor 6 1.10 1.17% — 142,091 Dec-2021 Acquisition GBP + Libor 6 1.50 1.92% 263,501 248,666 Dec-2022 Acquisition EUR | Fixed 4.42% 857 2,095 Sep- 2022 Investment GBP | Fixed 1.90% 150,649 — Dec-2023 Investment Export credit notes CDI + 1.03 3.12% — 82,185 Feb-2023 Investment CDI + 0.80 2.72% — 505,061 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.$ | Fixed 1.60% — 483,625 Nov-2022 Working capital CDI 4.60% — 206,908 Apr-2021 Working capital U.S.$ + 3.67 3.67% 438,823 415,232 May-2023 Investment U.S.$ + 1.59 1.59% — 388,912 Apr-2021 Investment U.S.$ + 1.36 1.36% 414,378 — Feb-2024 Investment Banking credit certificates IPCA + 0.81 5.31% — 239,068 Jan-2048 Working capital Perpetual Notes U.S.$ 8.25% 2,825,420 2,631,100 Nov-2040 Acquisition Senior Notes Due 2023 U.S.$ | Fixed 5.00% 685,550 569,466 Mar-2023 Acquisition Senior Notes Due 2024 U.S.$ | Fixed 7.38% — 4,514,289 Feb-2024 Acquisition Senior Notes Due 2024 U.S.$ | Fixed 5.95% — 1,232,844 Sep- 2024 Acquisition Senior Notes Due 2025 (i) U.S.$ | Fixed 5.88% 2,981,335 3,067,359 Jan-2025 Acquisition Senior Notes Due 2027 U.S.$ | Fixed 7.00% 4,305,928 4,379,812 Jan-2027 Acquisition Senior Notes Due 2028 (ii) U.S.$ | Fixed 5.25% 2,700,621 2,640,840 Jan-2028 Acquisition Senior Notes Due 2029 U.S.$ | Fixed 5.50% 4,226,142 3,932,483 Sep- 2029 Acquisition Senior Notes Due 2032 (iii) U.S.$ | Fixed 4.20% 2,800,716 — Jan-2032 Acquisition Prepayment Libor 3 3.50 5.57% — 27,129 Mar-2021 Working capital Libor 3 1.00 1.59% 111,955 104,318 Nov-2021 Working capital 1.27 360 1.27% 166,355 — Jul-2023 Working capital Bank overdrafts 125.5 5.53% — 4,318 Jan-2020 Working capital Debentures IPCA + 4.68 15.17% 543,752 595,847 Feb-2026 Investment IPCA + 4.50 14.97% 1,483,873 739,202 Feb-2029 Investment IPCA + 3.60 11.53% 361,862 — Sep- 2020 Investment CDI + 2.65 12.04% 1,858,837 1,740,551 Aug-2025 Investment IPCA + 6.80 17.50% 891,972 803,745 Apr-2030 Investment IPCA + 3.90 14.31% 1,018,844 1,025,777 Oct-2029 Investment IPCA + 5.73 16.33% 505,584 — Oct-2033 Investment IPCA + 4.00 8.53% — 255,501 Oct-2029 Investment IPCA + 4.00 14.42% 952,671 — Dec-2035 Investment IPCA + 4.54 15.02% 126,668 — Jun-2036 Investment IPCA + 7.48 18.25% 165,478 299,524 Dec-2022 Investment IPCA + 7.36 18.12% 108,451 97,956 Dec-2025 Investment IPCA + 5.87 16.48% 873,474 890,658 Dec-2023 Investment IPCA + 4.33 14.79% 501,278 452,457 Oct-2024 Investment IGPM + 6.10 12.11% 352,235 298,706 May-2028 Investment CDI + 0.50 9.70% 2,033,161 2,007,848 Oct-2022 Investment CDI + 1.95 11.28% 717,651 — Aug-2024 Investment IPCA + 5,12 15.66% 484,974 — Aug-2031 Investment IPCA + 5,22 15.77% 477,578 — Aug-2036 Investment CDI + 1.65 7.90% 774,215 — Aug-2028 Working capital CDI + 2.00 11.33% 930,301 — Aug-2031 Working capital IPCA + 5.75 16.35% 374,761 — Aug-2031 Working capital Working capital CDI + 2.75 10.90% 100,157 100,045 Jun-2022 Working capital Promissory notes CDI + 3.00 12.33% — 601,058 Apr-2021 Investment CDI + 3.40 12.73% — 520,116 Apr-2021 Investment 37,747,681 37,102,367 Total 45,659,037 42,249,460 Current 4,241,368 4,929,069 Non-current 41,417,669 37,320,391 |
Summary of Non-current Borrowings | Non-current borrowings are scheduled to fall due as follows: December 31, 2021 December 31, 2020 13 to 24 months 4,339,743 3,759,874 25 to 36 months 2,968,458 3,667,857 37 to 48 months 4,029,690 7,480,137 49 to 60 months 984,015 4,298,007 61 to 72 months 6,902,914 640,000 73 to 84 months 4,701,952 5,427,729 85 to 96 months 6,595,854 4,023,694 Thereafter 10,895,043 8,023,093 41,417,669 37,320,391 |
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, 2021 December 31, 2020 Brazilian reais 23,304,742 17,022,405 U.S. dollar 21,806,154 24,551,500 British pound 451,824 569,352 Euro 96,317 106,203 45,659,037 42,249,460 |
Schedule of movements in loans, borrowings and debentures | Below are the movements in loans, borrowings and debentures occurred for the year ended December 31, 202 1 : At January 1, 2020 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 Proceeds 12,548,547 Repayment of principal (9,925,067 ) Payment of interest (2,321,868 ) Interest, exchange rate and fair value 3,107,965 At December 31, 2021 45,659,037 |
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 Debenture 1st issue - Cosan S.A. 2.26 Resolution 4,131 - Comgás 1.59 BNDES - Comgás Net debt (i) (ii) 4.00 Debentures of 5 th th Debenture of th issue – Comgás Short-term indebtedness/Total indebtedness (iii) 0.6 0.34 Senior Notes Due 2027 – Cosan S.A. Net debt pro forma (iv) pro forma (ii | iv) 3.5 2.11 Senior Notes Due 2029 – Cosan S.A. Senior Notes Due 2025 – Rumo Net debt (i) (ii) 3.3 2.79 BNDES – Rumo EBITDA/Consolidated financial result (v) 2.0 4.91 (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 months. (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 are a non-GAAP measure (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, 2020 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 Business Combination (note 9.3) 3,281 Additions 142,562 Interest 426,313 Transfer between liabilities (i) (54,139 ) Repayment of principal (461,040 ) Payment of interest (165,301 ) Monetary adjustment 374,155 At December 31, 2021 3,267,678 Current 405,820 Non-current 2,861,858 (i) |
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 | In addition to the payment and appropriation of interest and exchange variation highlighted in the previous tables, the following impacts on income were recorded for other lease agreements that were not included in the measurement of lease liabilities: December 31, 202 1 December 31, 2020 December 31, 2019 Variable lease payments not included in the measurement of lease liabilities 35,482 24,045 10,691 Expenses relating to short-term leases 30,507 34,101 37,143 Expenses relating to leases of low-value assets excluding short-term leases of low-value assets 978 1,547 348 66,967 59,693 48,182 |
Summary of carrying amounts of trade payables | 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 days of recognition. December 31, 2021 December 31, 2020 Materials and service suppliers 1,847,222 1,675,553 Natural gas and transportation suppliers 1,314,946 780,141 Electricity and transportation suppliers 74,893 141,418 Fuels and lubricants suppliers 118 727 Other 16,325 32,215 3,253,504 2,630,054 |
Schedule of changes in net sector financial asset (liability) | The changes in net sector financial asset (liability) for the year ended December 31, 2021, were as follows: Sectorial assets Sectorial liabilities Total At January 01, 2020 — — — Cost of gas (i) 201,346 — 201,346 Tax credits (ii) — (565,911 ) (565,911 ) Interest (iii) 13,458 — 13,458 Other revenue (iv) 26,945 — 26,945 At December 31, 2020 241,749 (565,911 ) (324,162 ) Cost of gas (i) 228,153 — 228,153 Tax credits (ii) — (542,962 ) (542,962 ) Interest (iii) 19,699 (263,410 ) (243,711 ) Other revenue (iv) 68,709 — 68,709 At December 31, 2021 558,310 (1,372,283 ) (813,973 ) (i) Refers to the cost of gas purchased higher than that contained in the tariffs, 100% classified in current assets, since ARSESP's resolution provides for tariff recovery on a quarterly basis for the industrial segment, which is a substantial part of the volume of gas distributed by the subsidiary Comgás. (ii) Exclusion of the ICMS from the PIS and COFINS calculation basis. (iii) Reflect increases in the cost of gas and its transportation cost in accordance with existing gas purchase contracts. (iv) Corresponding to inflation as measured by the General Market Price Index ( Índice Geral de Preços – Mercado |
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, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Exchange rate derivatives Forward agreements (i) 3,313,428 1,656,489 21,305 (10,227 ) Electricity derivatives Forward agreements (ii) 1,407,476 1,354,967 (248,123 ) (189,423 ) Fuel derivatives Forward agreements — 13,422 — (348 ) 1,407,476 1,368,389 (248,123 ) (189,771 ) Interest rate and exchange rate risk Swap agreements (shares) (iii) 1,074,113 600,000 270,462 79,950 Swap agreements (inflation and interest rate) (iv) 6,590,408 2,229,136 77,913 408,867 Swap agreements (interest rate) (v) 3,019,917 3,399,997 154,654 755,355 Swap agreements (exchange and interest rate) (iv) 13,223,981 10,405,896 3,380,554 6,650,465 23,908,419 16,635,029 3,883,583 7,894,637 Total financial instruments 3,656,765 7,694,639 Current assets 194,878 587,894 Non-current assets 4,538,048 7,552,806 Current liabilities (925,650 ) (321,890 ) Non-current liabilities (150,511 ) (124,171 ) Total 3,656,765 7,694,639 (i) The Company and its subsidiaries TRSP and Moove have forward foreign exchange contracts to hedge exposures and expenses in foreign currency. (ii) The subsidiary Compass e has a portfolio of energy contracts (purchase and sale) aimed at meeting demands and offers for consumption or supply of energy. In addition, there is a portfolio of contracts that comprises forward positions, usually short-term. For this portfolio, there is no purchase commitment with a sales contract. (iii) During 2021, the Company entered into derivative negotiations, or Total Return Swap, with commercial banks. Under the Total Return Swap, which will have financial settlement, will receive the return on the variation in the price of CSAN3 shares adjusted by the dividends for the period and will pay annual interest referenced to CDI + Spread. The contracted value of CSAN3 shares with total return swap was 61,983,012 shares and the total initial value is R$1,074,113. Part of these operations are guaranteed by RAIL3 shares of its subsidiary S.A.. On December 31, the mark-to-market income, recorded in the Company's financial income line, was R$57,704. (iv) The subsidiary contracted interest and exchange swap operations, in order to be assets in USD + fixed interest and liabilities as a percentage of CDI. In the interest and inflation swap operations, the Company is active in IPCA + fixed interest and passive in a percentage of the CDI. (v) The subsidiary contracted interest and exchange swap operations, in order to be assets in USD + fixed interest and liabilities as a percentage of CDI. In the interest and inflation swap operations, the Company is active in IPCA + fixed interest and passive in a percentage of the CDI. |
Summary of designated as hedging instruments | Book value Accumulated fair value adjustment Notional December 31, 2021 December 31, 2020 December 31, 2021 December 31, 20 Interest rate hedge Debenture 3 rd rd — — — — 575 Debenture 5 th 684,501 (873,474 ) (890,658 ) 17,184 (22,040 ) Debenture 9 th 500,000 (484,974 ) — (484,974 ) — Debenture 9 th 500,000 (477,578 ) — (477,578 ) — BNDES Project VIII (i) 1,000,000 (921,949 ) — (921,949 ) — Debenture (Rumo) 5,530,408 (5,359,574 ) (1,281,278 ) 149,491 (239,437 ) Senior notes 2023 (Cosan Luxembourg) — — (569,466 ) (188,083 ) (237,050 ) Debt 8,214,909 (8,117,549 ) (2,741,402 ) (1,905,909 ) (497,952 ) Derivative financial instruments Debenture 3 rd rd — — — — 862 Debenture 5 th (684,501 ) (189,928 ) 211,741 (401,669 ) 10,731 Debenture 9 th (500,000 ) 5,776 — 5,776 — Debenture 9 th (500,000 ) 12,939 — 12,939 — BNDES Project VIII (i) (1,000,000 ) 51,220 — 51,220 — Debenture (Rumo) (5,556,236 ) (75,806 ) 176,693 (196,959 ) 183,595 Senior swaps notes 2023 (Cosan Luxembourg) — — 392,899 10,057 (42,532 ) Derivative (8,240,737 ) (195,799 ) 781,333 (518,636 ) 152,656 Total (25,828 ) (8,313,348 ) (1,960,069 ) (2,424,545 ) (345,296 ) (i) In the subsidiary Comgás, the exposure of the BNDES Project VIII debt is substantially protected by the hedge contracted in July 2021, with a portion of less than 3% not protected and for practical purposes its segregation at amortized cost becomes irrelevant. |
Schedule of fair value option of financial instruments | The Company chose to designate the protected liabilities (hedge objects) to record at fair value through profit or loss. Book value Accumulated fair value adjustment Notional December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Exchange rate Objects Senior Notes 2027 US$+ 7.0 (3,627,325 ) (4,305,928 ) (4,379,812 ) 313,052 (349,181 ) Export Credit Agreement EUR + 0.58 (100,198 ) (95,460 ) — (1,337 ) — Resolution 4,131 (Rumo) US$ + 2.20 (220,000 ) (148,932 ) — 4,412 — EIB 3ª Tranche US$ + LIBOR 6 0.54 — — (30,817 ) — 156 EIB 4ª Tranche US$ + LIBOR 6 0.61 — — (57,813 ) — 308 Resolution 4,131 (Comgás - 2018) US$ + 3.67 (268,125 ) (438,823 ) (415,232 ) (18,230 ) (24,247 ) Resolution 4,131 (Comgás - 2020) US$ + 1.59 — — (388,912 ) — 1,967 Resolution 4,131 (Comgás - 2021) US$ + 1.36 (407,250 ) (414,378 ) — 5,526 — Total (4,622,898 ) (5,403,521 ) (5,272,586 ) 303,423 (370,997 ) Derivative instruments Swap Notes 2027 R$ + 126.85 3,627,325 2,047,237 2,272,648 45,181 1,320,629 Inflation and interest rate swaps R$ 107 100,198 30,535 — (3,096 ) — Inflation and interest rate swaps R$ 118 220,000 47,527 — 20,019 — EIB 3 rd R$ 88.5 — — 21,176 844 24,927 EIB 4 th R$ 81.1 — — 39,256 2,583 26,219 Resolution 4,131 (Comgás - 2018) R$ 107.9 268,125 168,358 154,627 20,794 117,080 Resolution 4,131 (Comgás - 2020) R$ 2.75 — — (6,214 ) 15,711 (12,904 ) Resolution 4,131 (Comgás - 2021) R$ 1.25 407,250 (514 ) — (6,628 ) — Derivative total 4,622,898 2,293,143 2,481,493 95,408 1,475,951 Total — (3,110,378 ) (2,791,093 ) 398,831 1,104,954 Book value Accumulated fair value adjustment Notional December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Interest rate Objects Debenture (Rumo) IPCA + 4,68 (500,000 ) (543,752 ) — 82,474 — Debenture (Rumo) IPCA + 4,50 (600,000 ) (676,798 ) — 131,153 — Total (1,100,000 ) (1,220,550 ) — 213,627 — Derivative instruments Foreign exchange and interest swap 107 500,000 71,375 — (11,682 ) — Foreign exchange 105 600,000 82,344 — (41,468 ) — Derivative total 1,100,000 153,719 — (53,150 ) — Total — (1,066,831 ) — 160,477 — |
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 6 .6 Company December 31, 2021 December 31, 2020 Senior notes 2023 Cosan Luxembourg S.A. 100.26% 101.02% Senior notes 2024 Rumo Luxembourg S.à r.l. — 104.17% Senior notes 2024 Cosan Limited — 103.22% Senior notes 2025 Rumo Luxembourg S.à r.l. 103.04% 105.96% Senior notes 2027 Cosan Luxembourg S.A. 103.79% 108.20% Senior notes 2028 Rumo Luxembourg S.à r.l. 103.42% 108.75% Senior notes 2029 Cosan S.A. 104.39% 110.05% Senior notes 2032 Rumo Luxembourg S.à r.l. 94.34% — Perpetual notes Cosan Luxembourg S.A. 102.17% 102.88% |
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, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Note Level 1 Level 2 Level 3 Level 1 Level 2 Assets Investment funds 6.1 8,103,713 2,155,446 8,103,713 — — 2,155,446 Marketable securities 6.2 4,388,007 3,669,109 4,388,007 — — 3,669,109 Other financial assets 320,193 69,126 320,193 — 69,126 — Investment properties 3,886,696 — — 3,886,696 — — Derivate financial instruments 6.10 4,732,926 8,140,700 4,732,926 — — 8,140,700 Total 21,431,535 14,034,381 17,544,839 3,886,696 69,126 13,965,255 Liabilities Loans, borrowings and debentures 6.6 (45,659,037 ) (42,249,460 ) ( ) (20,214,600 ) — (24,971,099 ) (18,855,850 ) Consideration payable — (224,787 ) — — — — (224,787 ) Derivative financial instruments 6.10 (1,076,161 ) (446,061 ) — (1,076,161 ) — — (446,061 ) Total (46,735,198 ) (42,920,308 ) ( 30,157.655 ) (21,290,761 ) — (24,971,099 ) (19,526,428 ) |
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 . (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, and investment property (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 and Euro: December 31, 2021 December 31, 2020 Cash and cash equivalents 3,811,598 2,995,284 Trade receivables 93,326 24,619 Trade payables (4,721 ) (229,750 ) Loans, borrowings and debentures (19,640,300 ) (25,227,055 ) Leases (108,365 ) (99,217 ) Contingent consideration (234,960 ) (224,787 ) Derivative financial instruments 21,105,358 17,981,375 Foreign exchange exposure, net 5,021,936 (4,779,531 ) |
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 81,621 1,054,926 2,028,231 (891,684 ) (1,864,989 ) Trade receivables Currency fluctuation 76,502 100,347 124,191 52,658 28,813 Trade payables Currency fluctuation (1,414 ) (926 ) (438 ) (1,902 ) (2,389) Derivative financial instruments Currency fluctuation 2,457,838 3,676,786 6,946,953 (2,863,548 ) (6,133,715 ) Loans, borrowings and debentures Currency fluctuation (424,712 ) (7,017,875) (13,489,738) 5,925,849 12,397,712 Leases Currency fluctuation (2,321 ) (29,992 ) (57,663 ) 23,351 53,022 Contingent consideration Currency fluctuation 239,993 299,991 359,989 179,995 119,997 Impacts on profit or loss 2,427,507 (1,916,743 ) (4,088,475 ) 2,424,719 4,598,451 |
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$/€) December 31, 2021 Scenario Probable 25% 50% (25)% (50)% U.S.$ 5.5805 5.7000 7.1250 8.5500 4.2750 2.8500 € 6.3210 6.5550 8.1938 9.8325 4.9163 3.2775 £ 7.5242 7.9230 9.9038 11.8845 5.9423 3.9615 |
Summary of sensitivity analysis on interest rates on loans and borrowings which impacts on profit or loss | A sensitivity analysis on the interest rates on loans and borrowings in compensation for the CDI investments with pre-tax increases and decreases of 25% and 50% is presented below: Variation scenario Exposure interest rate Probable 25% 50% (25)% (50)% Cash and cash equivalents 1,623,771 1,995,927 2,385,014 1,423,642 1,116,070 Marketable securities 487,145 598,464 714,627 430,749 340,218 Lease and concession in installments (121,902 ) (152,377 ) (182,853) (91,426 ) (60,951 ) Leases (371,433 ) (371,433 ) (371,433 ) (371,433 ) (371,433 ) Derivative financial instruments 1,327,786 (1,365,311 ) (2,073,012 ) 223,066 1,124,171 Loans, borrowings and debentures (2,244,669 ) (2,760,945 ) (3,184,050 ) (1,914,734 ) (1,491,629 ) Other financial liabilities (71,996 ) (88,073 ) (104,151 ) (55,918 ) (39,840 ) Impacts on profit or loss 628,702 (2,143,748 ) (2,815,858 ) (356,054 ) 616,606 |
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 11.15% 13.94% 16.73% 8.36% 5.58% CDI 11.15% 13.94% 16.73% 8.36% 5.58% TJLP462 (TJLP + 1% p.a.) 7.60% 9.25% 10.90% 5.95% 4.30% TJLP 6.60% 8.25% 9.90% 4.95% 3.30% IPCA 4.61% 5.76% 6.91% 3.46% 2.30% IGPM 5.19% 6.48% 7.78% 3.89% 2.59% Libor 1.16% 1.45% 1.74% 0.87% 0.58% Fed Funds 0.90% 1.13% 1.35% 0.68% 0.45% |
Schedule of outstanding energy trading operations | Statement of financial position balances referring to outstanding energy trading operations are as follows: December 31, 2021 December 31, 2020 Assets Liabilities Net gain Assets Liabilities Net gain Electricity trading 69,576 (317,699 ) (248,123 ) 96,595 (268,018 ) (189,018 ) |
Schedule of sensitivity analysis on price risk of energy trading operations | Variation scenario Probable 25% 50% (25)% (50)% Unrealized loss from electricity trading (248,123 ) (244,212 ) (240,302 ) (252,034 ) (255,942 ) |
Schedule of projection of settlement of positions, at nominal value of energy trading operations | The projection of settlement of positions, at nominal value, follows the schedule below: 2022 2023 2024 Above 2025 Positions to be settled (248,115 ) (13,822 ) 1,093 12,721 |
Summary of Credit Risk | The exposure to credit risk was as follows: December 31, 2021 December 31, 2020 Cash and cash equivalents 16,174,130 13,642,918 Trade receivables 2,745,853 2,033,441 Marketable securities 4,388,007 3,669,109 Restricted cash 58,990 — Derivative financial instruments 4,732,926 8,140,700 Receivables from related parties 416,491 929,690 Dividends receivable 519,965 80,755 Restricted cash 320,193 34,562 29,356,555 28,531,175 |
Summary of Credit Risk Rating | December 31, 2021 December 31, 2020 AAA 23,080,390 20,878,272 AA 2,239,266 3,991,846 BBB 34,397 617,171 25,354,053 25,487,289 |
Summary of financial liabilities by due dates based on undiscounted cash flows contracted | The financial assets and liabilities of the Company by due dates (based on undiscounted cash flows contracted) are as follows: December 31, 2021 December 31, 2020 Up to 1 year 1 - 2 years 3 - 5 years More than 5 years Total Total Loans, borrowings and debentures (5,845,774 ) (6,628,072 ) (12,124,037 ) (32,777,404 ) (57,375,287 ) (46,012,176 ) Trade payables (3,253,504 ) — — — (3,253,504 ) (2,629,734 ) Other financial liabilities (726,423 ) — — — (726,423 ) (562,763 ) Tax installments - REFIS (52,805 ) (3,453 ) (1,395 ) (143,011 ) (200,664 ) (203,222 ) Leases (413,310 ) (413,692 ) (1,133,476 ) (13,671,334 ) (15,631,812 ) (14,348,296 ) Railway concession payable under litigation (187,972 ) (201,876 ) (198,532 ) (596,696 ) (1,185,076 ) (1,219,188 ) Payables to related parties (287,609 ) — — — (287,609 ) (315,433 ) Dividends payable (799,634 ) — — — (799,634 ) (24,238 ) Derivative financial instruments (1,064,207 ) (1,078 ) 1,380,014 5,998,479 6,313,208 3,988,524 Preferred shareholders payable in subsidiaries — — — — — (387,044 ) (12,631,238 ) (7,248,171 ) (12,077,426 ) (41,189,966 ) (73,146,801 ) (61,713,570 ) |
Other tax receivables (Tables)
Other tax receivables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Tax Receivables | December 31, 2021 December 31, 2020 COFINS - Revenue tax (iii) 1,333,868 625,174 ICMS – State VAT (i) 873,203 754,749 ICMS CIAP – State VAT (ii) 106,250 124,006 PIS - Revenue tax (iii) 299,610 136,765 Credit installment 42,932 42,138 Other 145,304 60,206 2,801,167 1,743,038 Current 921,472 785,367 Non-current 1,879,695 957,671 (i) ICMS credit related to the purchase of materials and diesel used in rail transportation. (ii) ICMS credit arising from acquisitions of property, plant and equipment. (iii) At the subsidiary , on March 15, 2017, the Federal Supreme Court ( tribunal Federal or “STF”) concluded the judgment of Extraordinary Appeal No. 574,706 and, under the general repercussion system, established the thesis that the ( ICMS tax should not be included in the calculation basis of the Social Integration Program tax ( de ;Social or “PIS”) and the Contribution to Social Security Financing tax ( para o da Social or “COFINS”), since such amount does not constitute the Company's revenue. That is, taxpayers have the right to exclude the amount related to ICMS highlighted in the invoice from the PIS and COFINS calculation basis. In 2018, the subsidiary Comgás recognized the credits for the periods after March 2017 based on the decision given at that date by the Supreme Court, maintaining as contingent asset values arising from the action, not yet judged definitively, which went back to July 2008. At the subsidiary Comgás, on May 13, 2021, the STF concludes the judgment on the modulation of the effects of the decision that excluded ICMS from the PIS and COFINS calculation basis (RE 574,706), as well as confirmed that the ICMS to be considered in the matter is the highlighted, not collected. According to the modulation, the effects of the exclusion are valid from March 15, 2017 – the date on which the ministers decided on the merits in the Plenary of the Court. In the case of Comgás, since its original claim dates from July 2013, in accordance with the legal form of the modulation of the effects, the right to recover the undue amount until July 2008. In this way, all relevant circumstances and, up to then, pending on the subject were overcome and, therefore, from the point of view of IAS 37 , the amounts related to the claim were no longer classified as contingent assets, since their existence was confirmed, and their realization is practically certain. Therefore, in June 2021, the Company recorded, an amount of R$957,663 (R$573,462 principal and R$382,201 monetary restatement), updated on December 31, 2021, total R$956,338 (R$563,175 principal and R$393,213 monetary restatement), related to PIS and COFINS credits in its non-current assets, which includes monetary restatement at the SELIC rate. In August 2021, the final and unappealable decision of the individual action filed by the subsidiary Comgás on the subject in 2013 was certified. Eventually, be considered as a component of tariff adjustment within the scope of the economic and financial balance of the concession contract, and such interpretation gained greater clarity after the modulation of the effects by the STF in the judgment of May 13, 2021. Therefore, of the total amount of credits recognized up to December 31, 2021, the subsidiary Comgás also recorded a provision in the amount of R$638,975 (R$375,565 principal and R$263,410 monetary restatement), equivalent to the uncertain portion, in its Sectoral Liabilities item, in non-current liabilities (Note 6 .9 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 December 31, 2020 Finished goods 814,320 560,028 Spare parts and accessories 180,286 219,831 Raw material 126,889 118,319 Warehouse and other 27,809 30,279 Fuels and lubricants — 6,807 1,149,304 935,264 |
Investments in associates (Tabl
Investments in associates (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about business combination [line items] | |
Summary of Basis of Consolidation | Cosan’s subsidiaries are listed below: December 31, 2021 December 31, 2020 Directly owned subsidiaries Cosan Logística S.A. (iii) — 73.48% Cosan S.A. (iii) — 66.74% Cosan Limited Partners Brasil Consultoria Ltda (iii) 97.50% 60.00% Sinlog Tecnologia em Logística S.A. (iii) 72.25% 64.52% Compass Gás e Energia (i) 88.00% 99.01% 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% 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% Atlântico Participações Ltda. 100.00% — Payly Soluções de Pagamentos S.A. 75.00% 75.00% Rumo S.A. (ii) 30.35% 30.35% Violeta Fundo de Investimento Multimercado 100.00% — Interest of Compass Gás e Energia in its subsidiaries Companhia de Gás de São Paulo - Comgás 99.15% — Compass Comercialização S.A. 100.00% — Compass Energia Ltda 100.00% — Terminal de Regaseificação de São Paulo - TRSP 100.00% — Rota 4 Participações S.A. 100.00% — Edge II - Empresa de Geração de Energia 100.00% — 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% Techniques ET Technologies Appliquees SAS - TTA (iv) 100.00% 75.00% Cosan Lubrificantes S.R.L. 98.00% 98.00% LubrigrupoII– Comércio e Distribuição de Lubrificantes S.A. 100.00% 100.00% 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 Rumo S.A. in its subsidiaries (iii) Rumo Malha Oeste S.A. 100.00% 28.47 % Rumo Malha Paulista S.A. 100.00% 28.47 % Rumo Malha Sul S.A. 100.00% 28.47 % Rumo Malha Norte S.A. 99.74% 28.40 % Rumo Malha Central S.A. 100.00% 28.47 % Elevações Portuárias S.A. 100.00% 28.47 % Logispot Armazéns Gerais S.A. 51.00% 14.52 % Rumo Luxembourg S.à r.l. 100.00% 28.47 % Rumo Intermodal S.A. 100.00% 28.47 % Boswells S.A. 100.00% 28.47 % ALL Argentina S.A. 100.00% 28.47 % Paranaguá S.A. 99.90% 28.47 % ALL Armazéns Gerais Ltda. 100.00% 28.47 % Portofer Ltda. 100.00% 28.47 % ALL Mesopotâmica S.A. 70.56% 20.09 % ALL Central S.A. 73.55% 20.94 % Servicios de Inversión Logística Integrales S.A. 100.00% 28.47 % Brado Logística e Participações S.A. 77.65% 17.71 % Brado Logística S.A. 77.65% 17.71 % Interest of Violeta Fundo de Investimento Multimercado in its subsidiaries Verde Pinho Fundo de Investimento em Participações 100.00% — Radar Propriedades Agrícolas S.A. 50.00% — Radar II Propriedades Agrícolas S.A. 50.00% — Nova Agrícola Ponte Alta S.A. 50.00% — Nova Amaralina S.A Propriedades Agrícolas 50.00% — Nova Santa Bárbara Agrícola S.A. 50.00% — Terras da Ponta Alta S.A. 50.00% — Castanheira Propriedades Agrícolas S.A. 50.00% — Manacá Propriedades Agrícolas S.A. 50.00% — Paineira Propriedades Agrícolas S.A. 50.00% — (i) As describe in Note 2, the subsidiary Compass Gás e Energia, , entered into Investment Agreements that resulted in the dilution of the Company's interest. As of December 31, 2021, contributions were made to Compass for a total amount of R$ 2,250,015 . The agreement signed with Atmos has a clause that grants Atmos the option to sell its shares in Compass and the Company is committed to pay any difference between Atmos selling price and the base price determined in the agreement. On December 31, 2021, the option hadno value since Compass' valuation exceeds the base price determined in the contract. (ii) Management has concluded that there are no material uncertainties that cast doubt on the continuity of the subsidiary. Despite presenting on December 31, 2021, the amount with an unsecured liability of R$ 356,442 , as shown below, no events or conditions were identified that, individually or collectively, could raise significant doubts as to the ability to maintain their continuity operational. The subsidiaries have the financial support of the Company. (iii) (iv) In August 2021, Moove Lubricants Limited acquired 25 32,030 |
Summary of Information in Associates of Company and Company's Ownership | Set out below are the associates as of December 31, 2021, which are material to the Company: Shares issued by the associate Shares held by Cosan Cosan ownership interest Economic benefit (%) Tellus Brasil Participações S.A. 120,920,515 61,359,623 50.74% 5.00% Janus Brasil Participações S.A. 229,689,888 116,620,166 50.77% 5.00% Rhall Terminais Ltda 28,580 8,574 30.00% 30.00% Termag - Terminal Marítimo de Guarujá S.A. 500,000 99,246 19.85% 19.85% TGG - Terminal de Granéis do Guarujá S.A. 79,747,000 7,914,609 9.92% 9.92% Terminal XXXIX S.A. 200,000 99,246 49.62% 49.62% TUP Porto São Luis S.A. 42,635,878 20,891,583 49.00% 49.00% At January 1, 2021 Interest in earnings of subsidiaries Other comprehensive income Dividends Capital increase Business Combination Other At December 31, 2021 Tellus Brasil Participações S.A. 105,665 39,938 — (2,805 ) — — — 142,798 Janus Brasil Participações S.A. 130,901 49,235 — (1,738 ) 4,959 — — 183,357 Radar Propriedades Agrícolas S.A. 62,371 (1,688 ) 1,060 (879 ) — (19,565 ) ( 41,299 ) — Radar II Propriedades Agrícolas S.A. 33,204 12,751 1,553 (1,854 ) — (45,659 ) 5 — Rhall Terminais Ltda 3,765 1,145 — (3 ) — — — 4,907 Termag - Terminal Marítimo de Guarujá S.A. 1,673 3,810 — — — — (758 ) 4,725 TGG - Terminal de Granéis do Guarujá S.A. 18,679 3,850 — (4,966 ) — — — 17,563 Terminal XXXIX S.A. 26,597 4,052 — — — — — 30,649 TUP Porto São Luis S.A. — 801 — — 393,579 — — 394,380 Other 996 16,331 5,243 (2,854 ) — (59,906 ) 41,878 1,688 383,851 130,225 7,856 (15,099 ) 398,538 (125,130 ) (174 ) 780,067 At January 1, 2020 Interest in earnings of subsidiaries Other comprehensive income Dividends Capital increase 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 ) — — 62,371 Radar II Propriedades Agrícolas S.A. 31,975 1,747 45 (563 ) — — 33,204 Other 57,443 9,068 (37 ) (8,187 ) 10 (6,587 ) 51,710 377,707 28,801 240 (17,452 ) 1,142 (6,587 ) 383,851 |
Summary of Financial Information of Associates | Financial information of associates: December 31, 2021 December 31, 2020 Assets Liabilities Shareholders’ equity Profit in the year Assets Liabilities Shareholders’ equity Profit in the year Tellus Brasil Participações Ltda 3,296,499 (502,734 ) 2,793,765 782,220 2,137,559 (136,375 ) 2,001,184 91,431 Janus Brasil Participações S.A. 4,261,432 (666,361 ) 3,595,071 1,048,514 2,632,321 (160,167 ) 2,472,154 97,652 Rhall Terminais Ltda 31,068 ( ) 16,360 4,073 — — — — Termag - Terminal Marítimo de Guarujá S.A. 276,284 ( ) 23,801 11,726 — — — — TGG - Terminal de Granéis do Guarujá S.A. 253,310 ( ) 177,053 37,150 — — — — Terminal XXXIX S.A. 335,511 ( ) 61,764 10,075 — — — — TUP Porto São Luis S.A. 455,437 (67,523 ) 387,914 (7,410 ) — — — — |
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 the subsidiary Shares held by non-controlling shareholders Non-controlling interest Compass Gás e Energia 714,190,095 85,702,404 12.00% Comgás 132,520,587 1,139,210 0.86% Cosan Lubes 34,963,764 10,489,129 30.00% Payly Soluções de Pagamentos S.A. 78,527,201 19,631,324 25.00% Rumo S.A. 1,854,158,791 1,291,629,301 69.65% Cosan Limited Partners Brasil Consultoria Ltda 160,000 4,000 2.50% Sinlog Tecnologia em Logística S.A. 86,370 23,967 27.75% TTA – SAS Techniques et Technologie Appliquées (i) 10,521 - - Radar II Propriedades Agrícolas S.A. 81,440,221 40,720,111 50.00% Radar Propriedades Agrícolas S.A. 1,266,986 633,493 50.00% Nova Agrícola Ponte Alta S.A. 160,693,378 80,346,689 50.00% Terras da Ponte Alta S.A. 16,066,329 8,033,165 50.00% Nova Santa Bárbara Agrícola S.A. 32,336,994 16,168,497 50.00% Nova Amaralina S.A. 30,603,159 15,301,580 50.00% Paineira Propriedades Agrícolas S.A. 132,667,061 66,333,531 50.00% Manacá Propriedades Agrícolas S.A. 128,977,921 64,488,961 50.00% Castanheira Propriedades Agrícolas S.A. 83,850,838 41,925,419 50.00% 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 January 1, 2021 Interest in earnings of subsidiaries Sales or purchase of interests Other comprehensive income Dividends Capital increase (decrease) Other Predecessor adjustments At December 31, 2021 Cosan S.A. 3,492,829 69,890 — 115,049 — — (1,023 ) (3,448,693 ) — Cosan Logística 658,158 4,898 — 358 — — — (663,414 ) — Comgás 24,729 17,524 — 625 (14,184 ) — 228 — 28,466 Compass Gás e Energia 32,880 74,390 1,505,311 7,698 (97,187 ) 2,250,015 1,053 — 761,432 CLI 582,284 87,823 — 13,037 — — — — 683,144 Rumo 10,709,017 107,690 318,323 5,358 (27,989 ) — 15,748 2,570 10,494,071 Logispot Armazéns Gerais S.A. 35,513 2,225 — — (4,032 ) — — — 33,706 Radar — 22,502 — 900 (19,854 ) — 54 — 2,119,102 Other 23,374 2,622 11,918 1,013 (1,662 ) 2,291 363 351 9,164 15,558,784 384,320 1,835,552 88,086 (164,908 ) 2,252,306 (2,131,407 ) (4,109,186 ) 14,129,085 At January 1, 2020 Interest in earnings of subsidiaries Sales or purchase of interests Other comprehensive income Dividends Capital increase (decrease) Other At December 31, 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 |
Summary of Financial Statements | Summarized statement of financial position: Compass Gás e Energia Comgás CLI Rumo Cosan Investimentos December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Current Assets 1,929,639 402,007 4,148,735 4,225,788 1,327,472 1,047,938 1,161,027 1,996,914 147,662 — Liabilities (28,374 ) (25,404 ) (4,538,385 ) (3,610,144 ) (755,995 ) (616,427 ) (760,522 ) (841,519 ) (50,038 ) — Net current assets 1,901,265 376,603 (389,650 ) 615,644 571,477 431,511 400,505 1,155,395 97,624 — Non-current Assets 4,453,679 2,944,593 8,122,763 6,391,096 1,946,181 1,893,901 21,568,088 19,624,672 4,337,142 — Liabilities (10,296 ) — (6,627,895 ) (6,416,687 ) (229,802 ) (360,077 ) (7,173,172 ) (5,796,462 ) (196,562 ) — Net non-current assets 4,443,383 2,944,593 1,494,868 (25,591 ) 1,716,379 1,533,824 14,394,916 13,828,210 4,140,580 — Equity 6,344,648 3,321,196 1,105,218 590,035 2,287,856 1,965,335 14,795,421 14,983,605 4,238,204 — Summarized statement of profit or loss and other comprehensive income: Compass Gás e Energia Comgás CLI December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 Net sales — — — 11,709,713 8,317,691 9,514,222 2,608,680 1,911,541 1,746,727 Profit before taxes 1,710,947 920,426 (2,614 ) 2,274,269 1,719,877 1,993,963 310,500 150,930 74,982 Income tax expenses 14,164 10,839 889 (155,148 ) (569,264 ) (626,784 ) (15,742 ) (1,484 ) (15,175 ) Profit (loss) for the year 1,725,111 931,265 (1,725 ) 2,119,121 1,150,613 1,367,179 294,758 149,446 59,807 Other comprehensive income (loss) — — — — — — — — — Total comprehensive income 1,725,111 931,265 (1,725 ) 2,119,121 1,150,613 1,367,179 294,758 149,446 59,807 Comprehensive income attributable to non-controlling interests 207,012 9,220 — 18,217 9,762 10,967 88,427 44,834 17,942 Dividends paid 982,752 600,000 — 1,649,653 1,135,669 2,010,101 — — — Rumo Cosan Investments December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 Net sales 772,714 950,269 596,415 31,502 — — Profit before taxes 198,239 349,300 779,228 49,218 — — Income tax expenses (47,701 ) (52,137 ) (991 ) (4,215 ) — — Profit (loss) for the year 150,538 297,163 778,237 45,003 — — Other comprehensive income (loss) — — 2,716 — — — Total comprehensive income 150,538 297,163 780,953 45,003 — — Comprehensive income attributable to non-controlling interests 104,850 212,561 558,616 22,502 — — Dividends paid — — 4,233 — — — Summarized statements of cash flows: Compass Gás e Energia Comgás CLI December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 Net cash (used in) from operating activities (44,974 ) (18,046 ) — 2,539,222 2,111,551 2,512,303 95,461 71,654 82,946 Net cash from (used in) investing activities (26,764 ) 776,872 — (1,025,104 ) (1,768,298 ) 202,037 77,742 (38,910 ) (10,140 ) Net cash (used in) from financing activities 1,265,679 (525,030 ) — (2,202,275 ) 198,890 (2,233,548 ) (13,766 ) 14,874 291,898 Net increase (decrease) in cash and cash equivalents 1,193,941 233,796 — (688,157 ) 542,143 480,792 159,437 47,618 364,704 Cash and cash equivalents at beginning of year 232,819 5 5 1,610,548 1,083,410 602,618 492,619 319,733 — Effect of exchange rate fluctuations on cash held (13,898 ) (982 ) — (30,741 ) (15,005 ) — 109,642 125,268 (44,971 ) Cash and cash equivalents at end of year 1,412,862 232,819 5 891,650 1,610,548 1,083,410 761,698 492,619 319,733 Rumo Cosan Investiments December 31, 2021 December 31, 2020 December 31, 2019 December 31, 2021 December 31, 2020 December 31, 2019 Net cash (used in) from operating activities (15,679 ) 463,170 197,313 21,690 — — Net cash from (used in) investing activities (1,469,750 ) (6,632,353 ) (929,861 ) 49,227 — — Net cash (used in) from financing activities 714,115 7,037,144 1,432,659 (15,650 ) — — Net increase (decrease) in cash and cash equivalents (771,314 ) 867,961 700,111 55,267 — — Cash and cash equivalents at beginning of year 1,568,667 700,706 595 — — — Effect of exchange rate fluctuations on cash held (5,551 ) — — — — — Cash and cash equivalents at end of year 791,802 1,568,667 700,706 55,267 — — |
Radar group acquisition | |
Disclosure of detailed information about business combination [line items] | |
Schedule of acquired entities as group acquisition through business combination | On November 3, 2021, Cosan acquired a 47% equity interest in agricultural property management companies of the “Radar Group” (entities shown below), increasing an interest of 3% to 50%, as shown below: Acquired name Interest acquired Final interest Direct Indirect Radar Propriedades Agrícolas S.A. 38.94% 8.06% 50.00% Radar II Propriedades Agrícolas S.A. 47.00% - 50.00% Nova Agrícola Ponte Alta S.A. 38.94% 8.06% 50.00% Nova Amaralina S.A Propriedades Agrícolas 38.94% 8.06% 50.00% Nova Santa Bárbara Agrícola S.A. 38.94% 8.06% 50.00% Terras da Ponta Alta S.A. 38.94% 8.06% 50.00% Castanheira Propriedades Agrícolas S.A. 38.94% 8.06% 50.00% Manacá Propriedades Agrícolas S.A. 38.94% 8.06% 50.00% Paineira Propriedades Agrícolas S.A. 38.94% 8.06% 50.00% |
Schedule of non-controlling interest in acquiree through business combination | Interest Shareholders' equity attributable to non-controlling interests Mansilla Participações Ltda. 50% 2,115,554 |
Schedule of fair value of the assets and liabilities, goodwill acquired at the acquisition date | a) Identifiable assets acquired and liabilities assumed The fair value of the assets and liabilities acquired is shown below: Radar Group Cash and cash equivalents 9,123 Marketable securities 38,675 Accounts receivable from customers 194,715 Receivables from related parties 16,780 Taxes to recover 1,083 Other assets 1,099 Deferred income tax and social contribution 44 Judicial deposits 279 Other financial assets 318,445 Investment properties 3,875,752 Fixed assets 33 Right of use 3,240 Trade payable (992 ) Taxes payable (11,443 ) Related parts (2,504 ) Lease (3,281 ) Advance from customers (41 ) Other obligations (16,738 ) Deferred income tax and social contribution (192,883 ) Provision for contingencies (279 ) Total net identifiable assets at fair value 4,231,107 |
Schedule of consideration transferred in business combination | The fair value of the net assets acquired exceeded the consideration transferred, generating a gain on bargain purchase as follow: Consideration t 1,572,352 Non-controlling interest 2,115,554 Fair value of Radar's Group pre-existing interest 126,933 Total net identifiable assets at fair value (4,231,107 ) Gain on bargain purchase (416,268 ) |
Compass group acquisition | |
Disclosure of detailed information about business combination [line items] | |
Schedule of acquired entities as group acquisition through business combination | 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 |
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 Comercializadora Compass Geração Compass Energia 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 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 Compass 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, 2021 | |
Investments accounted for using equity method [abstract] | |
Summary of Changes to Investments in Joint Ventures | Before reorganization Raízen Combustíveis Raízen Energia Reorganization (note 2) Raízen S.A. Shares issued by the joint venture 1,661,418,472 7,243,283,198 1,447,807,814 10,352,509,484 Shares held by Cosan 830,709,236 3,621,641,599 105,246,282 4,557,597,117 Cosan ownership interest 50% 50% -6% 44.02% At January 1, 2020 3,212,601 4,336,359 — 7,548,960 Interest in earnings of joint ventures 332,240 250,761 — 583,001 Other comprehensive (losses) income 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 Interest in earnings of joint ventures (i) 448,124 (72,609 ) 4,215,116 4,590,631 Other comprehensive (losses) income 215,787 (491,548 ) (73,416 ) (349,177 ) Interest on capital (ii) (100,318 ) — (122,480 ) (222,798 ) Corporate reorganization (Note 2) — (3,204,832 ) 3,204,832 — Dividends (ii) (716,230 ) (371,713 ) 17,742 (1,070,201 ) At December 31, 2021 3,694,869 — 7,241,794 10,936,663 (i) As disclosed in Note 2 , the conclusion of Raízen's IPO and the acquisition of Biosev resulted in two capitalizations in Raízen's equity of R$ 6,599,987 and R$ 2,347,281 , respectively. Such capitalizations resulted in a dilution of Cosan S.A.'s interest in Raízen without the loss of shared control, keeping the investment classified as a joint venture. The following are the gains and losses recognized for the period: |
Summary of gains and losses recognized in income under investment in joint venture | Reduction on previously held interest (896,817 ) Increase in investment due to cash contribution by non-controlling shareholders in the IPO 2,929,872 Exercise of subscription bonus - Hédera 1,043,347 Other comprehensive income * (82,243 ) Gain on dilution 2,994,159 Profit for the year under the equity method 1,596,472 Interest in earnings of joint venture 4,590,631 * Reclassification as part of the partial disposal. |
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, 2021 | |
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% to 5% Machinery, equipment and facilities 8% to 11% Other 10% to 20% Railcars 2.9% to 6% Locomotives 3.3% to 8% Permanent easement 3% to 4% Furniture and fixtures 10% to 15% Computer equipment 20% |
Schedule of Property Plant and Equipment | Land, buildings and improvements Machinery, equipment and facilities Railcars and locomotives (i) Permanent easement Construction in progress Other Total Cost At January 1, 2020 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 Business Combination (note 9.3) — — — — — 41 41 Additions 1,481 7,678 1,681 6,501 3,852,472 1,326 3,871,139 Disposals (81 ) (36,189 ) (123,980 ) (758 ) — (86,027 ) (247,035 ) Transfers (ii) 416,859 538,179 1,140,723 1,378,132 (3,412,132 ) 14,700 76,461 Effect of exchange rate fluctuations 5,662 7,712 — — 139 3,646 17,159 At December 31, 2021 2,001,165 1,974,614 7,738,889 8,755,001 3,244,653 441,742 24,156,064 Depreciation At January 1, 2020 (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 ) Additions (91,631 ) (202,154 ) (532,558 ) (550,969 ) — (30,472 ) (1,407,784 ) Disposals 3,922 35,165 112,362 196 — 82,574 234,219 Transfers (ii) (20,891 ) 21,190 59,284 (14,569 ) — (242 ) 44,772 Effect of exchange rate fluctuations (2,645 ) (4,331 ) — — — (1,949 ) (8,925 ) At December 31, 2021 (618,618 ) (882,542 ) (2,842,050 ) (3,115,641 ) (13,379 ) (35,281 ) (7,507,511 ) At December 31, 2020 1,069,871 724,822 4,239,327 4,820,827 2,790,795 422,864 14,068,506 At December 31, 2021 1,382,547 1,092,072 4,896,839 5,639,360 3,231,274 406,461 16,648,553 (i) On December 31, 2021, and 2020, wagons and locomotives in the amount of R$745,203 were pledged to guarantee bank loans. (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 rights Operating license Trademarks Customer relationships Other Total Cost At January 1, 2020 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 Disposals 94,892 — — — — — 94,892 Transfers — (48,442 ) — — (131 ) (12,474 ) (61,047 ) Effect of exchange rate fluctuations — 695,140 — (5,504 ) 408,470 (31,573 ) 1,066,533 Discontinued operation 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 Additions 24,696 765 35,834 — 155,469 2,286 219,050 Disposals (224 ) (169,815 ) — — (44 ) (3,146 ) (173,229 ) Transfers — 1,109,131 (92,447 ) 9,201 (786 ) 140,253 1,165,352 Exchange variation 19,625 — — 3,232 24,481 3,361 50,699 At December 31, 2021 1,132,817 19,616,524 379,182 66,640 1,604,067 509,053 23,308,283 Amortization At January 1, 2020 — (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 ) Additions — (588,411 ) (11,838 ) — (116,860 ) (38,524 ) (755,633 ) Disposals — 152,236 — — 114 3,828 156,178 Transfers — (116,305 ) 92,447 (9,201 ) 533 (146,481 ) (179,007 ) Effect of exchange rate fluctuations — — — — (7,363 ) (2,988 ) (10,351 ) At December 31, 2021 — (3,910,259 ) (167,287 ) (9,201 ) (1,028,608 ) (411,430 ) (5,526,785 ) At December 31, 2020 1,088,720 15,318,664 187,899 54,207 519,915 139,034 17,308,439 At December 31, 2021 1,132,817 15,706,265 211,895 57,439 575,459 97,623 17,781,498 |
Summary Intangible Assets (Excluding Goodwill) | Intangible assets (excluding goodwill) Annual rate of amortization December 31, 2021 December 31, 2020 Comgás (i) 2.00% 8,953,495 8,425,014 Rumo (ii) 1.59% 6,752,770 6,893,650 15,706,265 15,318,664 Operating license for port terminal 3.70% 211,895 187,899 Trademarks Comma Undefined 57,439 54,207 Customer relationships Comgás 20.00% 276,811 210,038 Moove 6.00% 297,286 309,877 Other 20.00% 1,362 — 575,459 519,915 Other Software license 20.00% 46,770 86,090 Other 20.00% 50,853 52,944 97,623 139,034 Total 16,648,681 16,219,719 (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 . The amount will be amortized until the end of the concession in 2079. |
Summary of combined carrying amounts of goodwill allocated to each cash-generating | The combined carrying amounts of goodwill allocated to each cash-generating unit are as follows: December 31, 2021 December 31, 2020 Cash generating unit – Moove 916,742 882,373 Cash generating unit – Compass 94,891 94,891 Cash generating unit – Logística 100,451 100,451 Cash generating unit – Cosan – Other Business 20,733 43 1,132,817 1,077,758 |
Summary of assumptions used for annual impairment test | The annual impairment test used assumptions of which we list some: Assumptions % annual Risk-free fee (T-Note 10y) 1.46% Inflation (BR) 3.00% Inflation (US) 2.16% Inflation (UK) 2.04% Country risk premium (BR) 3.68% Country risk premium (UK) 0.51% Country risk premium (ARG) 10.21% Market risk premium 5.63% Tax rate (BR) 34.00% Tax rate (UK) 19.00% Tax rate (ARG) 30.00% |
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 “Service Concession Arrangements.” Gas and Power Moove Total At January 1, 2020 594,601 5,940 600,541 Additions 885,631 571 886,202 Disposals — — — Transfer to concession rights and customer relationships (793,542 ) 2,737 (790,805 ) At December 31, 2020 686,690 9,248 695,938 Additions 1,020,176 37,203 1,057,379 Disposals — (25,439 ) (25,439 ) Transfer to concession rights and customer relationships (1,021,896 ) — (1,021,896 ) At December 31, 2021 684,970 21,012 705,982 (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 . |
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, 2020 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 Business Combination (note 9.3) 3,240 — — — — — 3,240 Additions 73,039 47,554 43 — 15,219 15,108 150,963 Contractual adjustments 41,663 48,784 5,242 4,659 41 330,312 430,701 Disposals (12,121 ) (2,836 ) — — — — (14,957 ) Transfers (233,296 ) 7,264 — — — (7,475 ) (233,507 ) Currency translation adjustments 1,530 2,561 — — (86 ) — 4,005 At December 31, 2021 254,883 142,449 938,610 87,028 29,099 7,800,313 9,252,382 Amortization At January 1, 2020 (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 ) Additions (30,838 ) (16,339 ) (38,478 ) (4,425 ) (2,131 ) (322,042 ) (414,253 ) Transfers 75,134 (1,547 ) — — — 26,885 100,472 Disposals 3,880 2,229 — — — — 6,109 Currency translation adjustments (265 ) (1,506 ) — — 35 — (1,736 ) At December 31, 2021 (67,919 ) (29,258 ) (399,218 ) (16,959 ) (15,125 ) (776,636 ) (1,305,115 ) At December 31, 2020 264,998 27,027 572,585 69,835 896 6,980,889 7,916,230 At December 31, 2021 186,964 113,191 539,392 70,069 13,974 7,023,677 7,947,267 |
Summary of balances of investment properties | The balances of investment properties are shown below: Investment property December 31, 2020 — Subsidiary acquisition (Note 9.3) 3,875,752 Variation in fair value, net 17,116 Provision of Real Estate Transfer Tax (6,450 ) Other 278 December 31, 2021 3,886,696 |
Concessions payable (Tables)
Concessions payable (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Concessions Payable | This account also includes balances payable in connection with the granting of concession rights (“Concessions”), initially recorded as a contra entry to intangible assets (Note 11.2 December 31, 2021 December 31, 2020 Court discussion Rumo Malha Paulista S.A. 55,170 101,871 Rumo Malha Oeste S.A. 1,747,233 1,617,764 1,802,403 1,719,635 Railroad concession payable Rumo Malha Paulista S.A. 1,145,450 1,154,919 Payables Rumo Malha Sul S.A. 85,713 84,637 Rumo Malha Paulista S.A. 20,682 24,151 106,395 108,788 Total 3,054,248 2,983,342 Current 160,771 158,705 Non-current 2,893,477 2,824,637 |
Summary of Judicial Deposits | Judicial deposits at December 31, 2021 and 2020 concerning the above claims are as follows: December 31, 2021 December 31, 20 20 Rumo Malha Oeste S.A. 22,119 22,119 22,119 22,119 |
Schedule of leases and grants related to concession payable | Leases and grants under IFRS 16 (Note 6. 7 ) December 31, 2021 December 31, 2020 Leases Rumo Malha Sul 623,155 600,745 Rumo Malha Paulista 508,169 475,647 Rumo Malha Oeste 216,101 179,568 Elevações Portuárias 97,046 76,925 Portofer 13,921 12,463 1,458,392 1,345,348 Grants Rumo Malha Paulista (renewal) 590,594 492,222 Rumo Malha Central S.A. 614,410 491,354 1,205,004 983,576 Total 2,663,396 2,328,924 Current 274,774 232,212 Non-current 2,388,622 2,096,712 |
Other taxes payable (Tables)
Other taxes payable (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Tax Payable | The Company is subject to taxes, contributions and municipal, state and federal duties, in its respective jurisdictions. December 31, 2021 December 31, 2020 Tax amnesty and refinancing program 200,664 202,377 ICMS – State VAT 278,351 198,708 COFINS – Revenue tax 88,214 61,930 PIS – Revenue tax 15,082 16,578 INSS – Social security 34,215 29,515 IRRF - Withhold Income Tax 11,024 — ISS – Service tax — 1,108 IOF – Financial tax — 873 Other 55,559 55,255 683,109 566,344 Current 536,220 417,326 Non-current 146,889 149,018 |
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, 2021 December 31, 2020 13 to 24 months 4,370 7,254 25 to 36 months 1,514 3,143 37 to 48 months 716 1,478 49 to 60 months 716 691 61 to 72 months 137,687 134,151 73 to 84 months 716 691 85 to 96 months 716 691 Thereafter 454 919 146,889 149,018 |
Income tax and social contrib_2
Income tax and social contribution (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Schedule of Reconciliation of Income and Social Contribution Tax Expenses | a) Reconciliation of income tax and social contribution expenses December 31, 2021 December 31, 2020 December 31, 2019 Profit before taxes 6,250,876 1,990,961 3,661,948 Income tax and social contribution nominal rate (34%) (2,125,298 ) (676,927 ) (1,245,062 ) Adjustments to determine the effective rate Interest in earnings of investees (non-taxable income) (i) 1,734,883 207,940 385,097 Differences in tax rates on earnings (losses) of overseas companies 55,910 19,793 (78,026 ) Granted income tax incentive 199,687 109,081 178,609 Share-based payment transactions 450 9,941 19,986 Interest on shareholders’ equity (72,804 ) (24,773 ) (26,766 ) Non-deductible expenses (donations, gifts, etc.) (28,061 ) (4,183) (16,925 ) Tax losses not recorded (203,809 ) (170,017 ) (69,335 ) ICMS benefit - (ii) 290,745 — — ICMS benefit - current period (iii) 118,107 — — Rate difference 5,577 — — Amortization of the effects on formation of joint ventures (iv) 402,571 — — Goodwill amortization effect 1,271 1,271 1,271 Other (v) (vi) 66,355 25,207 71,555 Income tax and social contribution - current and deferred 445,584 (502,667 ) (779,596 ) Effective rate 7.13% 25.25% 21.29% (i) The amount of R$129,792 , referring to the amortization of the surplus value of , is treated as a temporary difference. (ii) The subsidiary recognized an extemporaneous credit in the amount of R$ 358,898 (R$ 290,745 principal and R$ 68,152 interest), used through its offset against IRPJ, CSLL, PIS and COFINS payable due in the year , related to the overpayments of Income Taxes ( Imposto de Renda Pessoa Jurídica % to15.6 % pursuant to art. 8 of Annex II of the ICMS Regulation, approved by State Decree No. 45,900 (“RICMS/SP”), as amended by State Decree No. 62,399/2016. These credits were recognized by the Company based on its best understanding of the subject, substantiated by the opinion of its external legal advisors, which took into account all the jurisprudence applicable to the subject. The Company also considered all the accounting rules in force, which, after being analyzed together, did not indicate any other accounting effect to be recognized. (iii) After January 1, 2021, the subsidiary changed its tax procedure, excluding the benefit of the reduction in the ICMS tax base, granted by the State of Paulo, directly from the calculation of IR and CS for the current year. (iv) Reversal of deferred income tax and social contribution liabilities on the amortization of fair value related to the gain recorded in the formation of (v) The Company reversed the deferred IRPJ and CSLL in the amount of R$284,738 , on the interest on the put option in the investment transaction, which involved CIP and the banks, as a result of the settlement of the put option see Note 2. (vi) Considering the effects of the judgment of STF RE No. 1,063,187, dated September 24, 2021, it concluded that certain financial effects related to the equity recomposition in the event of repetition of undue taxes should not form the basis of the company's taxable income. Company and its subsidiaries the amount of R$ |
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, 2021 December 31, 2020 Assets credits of: Income tax losses 2,987,069 2,574,260 Social contribution losses 1,087,742 929,432 Temporary differences Share-based payment transactions 50,114 19,129 Allowance for expected credit losses 28,948 31,416 Profit sharing 111,931 41,080 Tax credit losses 81,918 83,833 Interest on preferred shareholders payable in subsidiaries — 167,412 Post-employment benefits 160,082 200,461 Loss allowances for impairment 193,207 226,092 Provision for legal proceedings 374,369 288,967 Miscellaneous expense allowance 401,423 366,224 Review of useful life of property, plant and equipment — 399,537 Leases 431,629 — Foreign exchange - Loans and borrowings 1,667,500 1,962,892 Other (i) 300,307 242,018 7,876,239 7,532,753 ( -) Deferred taxes assets net not recognized (ii) (2,483,035 ) (2,318,998 ) Liabilities credits of: Temporary differences Fair value option to loans (127,318 ) 526,001 Fair value amortization of the property, plant and equipment (15,976 ) (2,640 ) Leases — (25,460 ) Tax deductible goodwill (331,404 ) (839,939 ) Investment properties (100,197 ) — Marketable securities (62,593 ) — Provision for realization - Goodwill recorded in equity (iii) (449,153 ) — Income on formation of joint ventures (668,508 ) (1,135,036 ) Unrealized gains on derivatives instruments (1,034,373 ) (2,206,216 ) Review of useful life of property, plant and equipment (53,347 ) — Fair value amortization of the intangible asset (3,551,836 ) (3,603,568 ) Other 235,073 282,212 (6,159,632 ) (7,004,646 ) Total deferred taxes recorded, net (766,428 ) (1,790,891 ) Deferred tax assets 3,051,628 1,900,241 Deferred tax liabilities (3,818,056 ) (3,691,132 ) (i) Refers mainly to tax losses and temporary differences of the Company, and , which, under current conditions, do not meet the requirements for accounting for said income tax and social contribution assets deferred due to the lack of predictability of future generation of tax profits. (ii) Provision for accounting realization of tax loss recognized in the capital contribution in a subsidiary. |
Summary of Changes in Deferred Tax | c) Changes in deferred income tax Assets Tax loss and negative basis Employee benefits Provisions Post-employment benefits Property, plant and equipment Unregistered credits Other Total At January 1, 2020 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 As at December 31, 2020 3,503,692 60,209 996,530 200,461 399,537 (2,318,998 ) 2,372,324 5,213,755 Credited / (charged) to the profit for the year 565,197 101,836 93,396 (12,737 ) (433,371 ) (163,890 ) (1,642,143 ) (1,491,712 ) Other comprehensive income (loss) — — — (27,642 ) — (147 ) 20,035 (7,754 ) Recognized in equity 5,878 — 68 — — — 4,267 10,213 Business combination (Note 9.3) 44 — (10,129 ) — (19,513 ) — — (29,598 ) Exchange differences — — — — — — 1,213,324 1,213,324 As at December 31, 2021 4,074,811 162,045 1,079,865 160,082 53,347 (2,483,035 ) 1,967,807 4,908,228 Liabilities Effects on the formation of joint ventures Intangible assets Unrealized gains on derivatives Leases Fair value adjustment Other Total At January 1, 2020 (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 ) As at December 31, 2020 (1,135,036 ) (3,603,568 ) (2,206,216 ) (25,459 ) 526,002 (560,369 ) (7,004,646 ) Credited / (charged) to the profit for the year 466,528 51,732 1,063,297 456,858 (653,320 ) 126,479 450 Other comprehensive income (loss) — — 108,546 230 — (127,076 ) (18,300 ) Business combination (Note 9.3) — — — — — (163,284 ) (163,284 ) As at December 31, 2021 (668,508 ) (3,551,836 ) (1,034,373 ) (431,629 ) 127,318 (724,250 ) (5,674,656 ) Total deferred taxes recorded (766,428 ) |
Schedule of estimate of tax credit realization | December 31, 2021 Within 1 year 266,609 From 1 to 2 years 277,527 From 2 to 3 years 322,779 From 3 to 4 years 329,506 From 4 to 5 years 350,582 From 5 to 8 years 976,496 From 8 to 10 years 528,129 3,051,628 |
Provision for legal proceedin_2
Provision for legal proceedings and judicial deposits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Contingent Liabilities | Provision for legal proceedings Judicial deposit December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Tax 647,610 635,406 500,484 462,197 Civil, environmental and regulatory 585,034 350,769 169,857 140,833 Labor 411,417 374,723 252,720 272,812 1,644,061 1,360,898 923,061 875,842 |
Summary Changes in Provision for Legal Procedings | Changes in provision for legal proceedings: Tax Civil, environmental and regulatory Labor Total At January 1, 2020 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 Provisions 24,559 103,805 114,596 242,960 Settlement / Write-offs (15,331 ) (56,931 ) (117,238 ) (189,500 ) Interest (i) 2,976 187,391 39,336 229,703 At December 31, 2021 647,610 585,034 411,417 1,644,061 (i) Includes write-off of interest due to reversals. |
Summary of Principal Tax Proceedings for Which Risk of Loss is Probable | The principal tax proceedings for which the risk of loss is probable are described below: December 31, 2021 December 31, 2020 Compensation with FINSOCIAL (i) 300,470 296,445 INSS - Social security (ii) 97,847 97,928 State VAT - ICMS credit (iii) 85,965 93,743 IPI - Excise tax credit - NT (iv) 43,461 53,697 Federal income taxes 8,553 9,508 PIS and COFINS 28,427 2,304 Other 82,887 81,781 647,610 635,406 (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). 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. (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$93,700 as of December 31, 2020, and R$97,534 as of December 31, 2019. (iv) 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. |
Summary of Principal Proceedings for Which Deem Risk of Loss as Possible | The principal proceedings for which we deem the risk of loss as possible are described below: December 31, 2021 December 31, 2020 Tax 14,647,917 13,416,966 Civil, environmental and regulatory 6,905,964 5,476,470 Labor 859,830 942,352 22,413,711 19,835,788 Tax December 31, 2021 December 31, 2020 Federal income taxes (i) 5,404,264 4,344,963 ICMS − State VAT (ii) 2,877,144 3,042,710 PIS and COFINS − Revenue taxes (iii) 2,368,123 2,182,933 IRRF − Withholding tax (iv) 1,251,394 1,227,555 Penalties related to tax positions (v) 461,747 473,690 IPI − Excise tax credit − NT (vi) 492,025 455,121 MP 470 − Tax installments (vii) 398,184 357,500 INSS − Social security and other (viii) 180,533 226,807 Compensation with IPI − IN 67/ 98 (ix) 186,048 183,585 Goodwill — 84,953 Stock option (x) 65,260 63,986 Foreign financial operation — 29,136 Financial transactions tax on loan 8,450 14,886 Capital gain (xi) 29,516 — IOF on Mutual (xii) 136,286 — Other 788,943 729,141 14,647,917 13,416,966 (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 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. (ii) The legal claims related to the ICMS essentially involve: (a) Infraction Notices drawn up by the Paulo State Finance Department ( da de Paulo), against , with the reporting of infractions for alleged lack collection of ICMS in the provision of rail transport services for export; improper credit of ICMS for alleged bookkeeping in the Book of Entries of amounts higher than those found in the Tax Books; improper credit of ICMS for acquisitions supposedly classified as use and consumption. Fines of 50% of the tax amount and 100% of the amount of credit considered undue were also included. (b) state tax authorities assessed the charges for non-taxation by ICMS on the invoices for the provision of rail freight services for export. All assessments were challenged, since there is a favorable position for taxpayers consolidated in the higher courts, based on the Federal Constitution and Complementary Law 87/1996 (c) the Treasury of the State of drew up several Terms of Seizure and Deposit ( ) in order to collect ICMS and a 50% fine on the value of the fined operations, under the mistaken understanding that the goods exit operations destined for export would be cancelled with the (Auxiliary Document of Electronic Transport Knowledge), with the supposed characterization of untrue documentation, under the terms of articles 35-A and 35-B of State Law 7098/98. The Company and its subsidiaries contest challenge the assessments and demonstrate to the Tax Authorities that the goods transported were duly covered by suitable tax documentation; (d) collection of ICMS, for the years 2018 and 2019, in the acquisition of wagons as a result of the alleged non-exemption provided for by the Tax System for Incentives to the Modernization and Expansion of the Port Structure - REPORTO by the Paulo tax authorities. (iii) The administrative demands for PIS and COFINS in subsidiary are substantially related to the disallowance of PIS and COFINS credits by the non-cumulative system related to the following items: a) credits launched out of time unaccompanied by prior rectification of tax returns; b) claims on expenses arising from mutual traffic contracts; c) credits related to expenses with services classified as inputs in the activity carried out by the Company that supposedly were not proven during the Inspection; d) credits on expenses with transportation of employees; e) credits related to electricity expenses; f) credits on expenses with machinery rentals and rentals that were not proven in the course of the Inspection; g) credits on expenses on the acquisition of machinery, equipment and other assets incorporated into the subsidiary's fixed assets; and (h) and isolated fine corresponding to 50% of the value of the credits. (iv) The legal claims related to the IRRF essentially involve: (a) 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. (b) had part of its IRPJ credit balance offset partially disallowed by the Federal Revenue Service ( Federal do ) based on the argument that the Company would not be entitled to IRRF offset on swap transactions. (v) Infraction Notices drawn up in the face of to demand differences in IRPJ, CSLL, PIS and COFINS, related to the calendar years 2005 to 2008, due to the following alleged a) undue deduction of the Real Profit and the Calculation Base of CSLL of financial expenses arising from loans entered into with financial institutions abroad, b) undue exclusion of Real Profit and Calculation Base of financial income from securities issued by the Government of Austria and the Government of Spain, c) no inclusion, in the Real Profit and in the CSLL Calculation Base, of the gains earned in swap operations, and no taxation of the financial income resulting from such contracts by PIS and COFINS, d) undue exclusion of the Real Profit and the Calculation Base of CSLL, carried out as PIS and COFINS credits, e) undue exclusion of Real Profit and the CSLL Calculation Base carried out as deferred CSLL. f) undue exclusion of taxable income and the CSLL calculation basis made as deferred CSLL; and Violation g) insufficient payment of advances of IRPJ and CSLL, which generated the application of an isolated fine at the percentage of 50%, together with the fines of 75%. In 2019, we had definitive success regarding the completeness of the infractions “a”, “b”, “d”, “e” and “f”, as well as part of the infraction “c”, to recognize the possibility of exclusion of the actual profit and the CSLL calculation basis of the revenues arising from the Austrian public debt securities acquired on July 24, 2006 and, as a consequence, of part of the infraction “g”, in the extension of the partial cancellation of the item “c”. Contingency adjusted for ultimate success. The remainder of item “g” remains under administrative discussion. The discussion on the remainder of item “c” ended at the administrative level and continued at the judicial level. F-105 Table of Contents Notes to the consolidated financial statements (In thousands of Brazilian reais - R$, unless otherwise stated) (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 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. (vii) Brazilian federal tax authorities have partially rejected the Company’s application for payment of federal tax debts with 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 losses are not sufficient to offset the relevant debts. (viii) 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. (ix) 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. (x) Tax assessments issued against the 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. (xi) Tax assessment notices issued by the Federal Revenue Service ( Federal do ) in 2011 and 2013 and 2019 against related to a) disallowance of goodwill expense based on future profitability, as well as financial expenses; b) non-taxation of supposed capital gain on the sale of equity interest in a Company of the same economic group; and c) supposed capital gain on the incorporation of shares in companies of the same economic group. In 2019, the subsidiary had definitive success in terms of reducing the capital gain launch base. Contingency adjusted for ultimate success. F-106 Table of Contents Notes to the consolidated financial statements (In thousands of Brazilian reais - R$, unless otherwise stated) (xii) The lawsuits related to the IOF essentially involve a) The Federal Treasury intends to enforce the levy of IOF on the current accounts maintained by the parent Company for and its subsidiaries (most substantial part of the assessment). In the understanding of the tax authorities, the use of an accounting item as advances for expenses to related companies, without a formal loan agreement, characterizes the existence of a current account, and the IOF due must be determined according to the rules specific to revolving credit operations. The tax assessment notices are still being questioned at the administrative level; b) Tax Assessment Notice issued by the Federal Tax Authorities against for alleged failure to pay IOF in the period 2017 and 2018, relating to the collection of alleged financial transactions between the group companies, essentially on the remittance of amounts arising from mutual traffic between and , contracts with and other amounts listed in other accounting accounts. |
Shareholders' equity (Tables)
Shareholders' equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Share Capital | At December 31, 2021, share capital is composed of the following: Shareholders Common shares % Controlling group 672,762,132 35.90% Board of directors and executive officers 25,285,335 1.35% Free float 1,170,582,693 62.46% Total of shares 1,868,630,160 99.71% Treasury shares 5,440,772 0.29% Total of shares 1,874,070,932 100.00% |
Summary of Other Comprehensive (Loss) Income | f) Other comprehensive (loss) income December 31, 2020 Comprehensive (loss) income December 31, 2021 Loss on cash flow hedge (1,316,502 ) (601,415 ) (1,917,917 ) Foreign currency translation differences 6,514 89,848 96,362 Actuarial loss on defined benefit plan (217,771 ) 41,832 (175,939 ) Gain on measurement of financial instrument 15,000 — 15,000 Change in fair value of financial assets 1,555 2,269 3,824 (1,511,204 ) 914,332 (596,872 ) Attributable to: Owners of the Company (1,524,027 ) 1,002,418 (521,609 ) Non-controlling interests 12,823 (88,086 ) (75,263 ) 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 |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 December 31, 2021 December 31, 2020 (restated) December 31, 2019 (restated) Profit attributable to the holders of the Company’s common shares used in the calculation of basic earnings per share 6,312,140 859,482 1,316,341 Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating basic earnings per share 6,312,140 859,482 1,305,320 Dilutive effect of the share-based plan of subsidiaries (5,249 ) (5,739 ) (5,714 ) Profit attributable to the holders of the Company’s common shares used in the calculation of diluted earnings per share 6,306,891 853,743 1,310,627 Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating diluted earnings per share 6,306,891 853,743 1,299,606 Weighted average number of outstanding Shares of Cosan S.A. (in thousands of shares) Basic 1,834,533 1,834,533 1,834,533 Dilutive effect of the share-based plan 4,687 6,741 8,530 Dilutive 1,839,220 1,841,274 1,843,063 Earnings per share Basic R$3.4407 R$0.4685 R$0.7175 Diluted R$3.4291 R$0.4637 R$0.7111 Earnings per share from continuing operations Basic R$3.4407 R$0.4685 R$0.7115 Diluted R$3.4291 R$0.4637 R$0.7051 Dilutive instruments The Company’s subsidiaries have two categories of potential dilutive effects: share options and put options. For the share options, a calculation is done to determine the effect of the dilution in the profit attributable to shareholders of the parent due the exercise of the share options at subsidiaries. For the put option, is assumed to have been converted into ordinary shares, and the profit attributable to shareholders of the parent is adjusted. Anti-dilutive instruments For the year ended December 31, 2021, 45,765,000 shares related to the Cosan S.A. share buyback plan were not considered in the diluted earnings per share analysis, as they would have an anti-dilutive effect. |
Net sales (Tables)
Net sales (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 December 31, 2020 December 31, 2019 Gross revenue from sales of products and services 30,317,755 24,040,536 23,703,245 Construction revenue 1,020,176 885,630 813,341 Indirect taxes and deductions (5,472,930 ) (4,488,331 ) (3,905,177 ) Net sales 25,865,001 20,437,835 20,611,409 |
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, 2021 December 31, 2020 December 31, 2019 At a point in time Natural gas distribution 10,447,312 7,372,957 8,636,221 Electricity trading 620,495 775,479 — Lubricants and base oil 5,546,093 4,283,704 3,916,504 Other 277,571 59,923 64,682 16,891,471 12,492,063 12,617,407 Over time Railroad transportation services 7,103,706 6,680,307 6,548,109 Port elevation 335,965 285,852 351,563 Construction revenue 1,020,176 885,630 813,341 Services rendered 566,364 131,871 317,960 9,026,211 7,983,660 8,030,973 Elimination (52,681 ) (37,888 ) (36,971 ) Total 25,865,001 20,437,835 20,611,409 |
Costs and expenses by nature (T
Costs and expenses by nature (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 December 31, 2020 (restated) December 31, 2019 (restated) Commodity cost (natural gas) (6,137,104 ) (3,867,044 ) (4,885,497 ) Raw materials (4,631,436 ) (3,289,845 ) (3,231,169 ) Personnel expenses (1,997,881 ) (2,533,429 ) (2,244,252 ) Depreciation and amortization (2,504,384 ) (2,340,854 ) (2,287,877 ) Railroad transportation and port elevation expenses (2,128,043 ) (1,897,975 ) (1,867,196 ) Electricity purchased for resale (968,503 ) (927,913 ) — Construction cost (1,020,176 ) (885,630 ) (813,341 ) Natural gas transportation cost (1,074,441 ) (753,603 ) (703,500 ) Other transport (25,143 ) — — Selling expenses (23,638 ) (23,387 ) (26,168 ) Expenses with third-party services (751,486 ) — — Other (897,789 ) (731,869 ) (460,161 ) (22,160,024 ) (17,251,549 ) (16,519,161 ) Cost of sales (19,864,248 ) (14,999,823 ) (14,616,985 ) Selling expenses (723,419 ) (661,907 ) (666,114 ) General and administrative expenses (1,572,357 ) (1,589,819 ) (1,236,062 ) (22,160,024 ) (17,251,549 ) (16,519,161 ) |
Other income (expenses), net (T
Other income (expenses), net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Details of Other Expense Income Net | December 31, 2021 December 31, 2020 December 31, 2019 Settlement of disputes in the renewal process (i) 9,242 278,496 — Tax credits (i) 287,049 132,399 165,398 Gain (loss) on disposal of non-current assets and intangibles 7,295 30,610 (35,274 ) Gain from bargain purchase (Note 9.3) 416,268 — — Reimbursement of natural gas loss in the process — 26,945 — Gain on compensation claims — — 50,284 Net effect of legal proceedings (263,945 ) (32,704 ) (105,153 ) Depreciation of right-of-use — (100,593 ) (40,545 ) Disposal of credit rights — (68,311 ) 410,000 Change in fair value of investment properties (note 11.5) 17,116 — — Loss on impairment — (143,984 ) — Other (90,425 ) 54,011 (40,024 ) 382,600 176,869 404,686 (i) Effect referring to the reversal of lease liabilities in dispute registered, related to labor credits from lawsuits for return, of subsidiary Rumo in the amount of R$ 52,963 ; and waiver of administrative and regulatory proceedings contemplated in the 7 th Addendum to the Concession Agreement Renewal of the concession agreement of subsidiary Comgás in the amount of (R$ 43,721 ). |
Finance results (Tables)
Finance results (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Investments accounted for using equity method [abstract] | |
Summary of Finance Income and Costs | Details of finance income and costs are as follows: December 31, 2021 December 31, 2020 December 31, 2019 Cost of gross debt Interest on debt (3,162,853 ) (2,148,322 ) (1,626,911 ) Monetary and exchange rate variation (1,069,157 ) (3,253,446 ) (438,430 ) Derivatives and fair value measurement 2,193,855 3,918,848 764,816 Amortization of borrowing costs (341,034 ) (58,732 ) (56,397 ) Guarantees and warranties (52,082 ) (56,079 ) (65,207 ) (2,431,271 ) (1,597,731 ) (1,422,129 ) Income from financial investment and exchange rate in cash and cash equivalents 600,894 369,690 407,701 Cost of debt, net (1,830,377 ) (1,228,041 ) (1,014,428 ) Interest on other receivables 411,394 201,060 435,498 Monetary variation of other financial assets (372 ) — — Interest on other payables (424,946 ) (16,293 ) (302,620 ) Interest on lease liabilities (407,972 ) (595,482 ) (559,240 ) Interest on shareholders' equity (8,288 ) (4,959 ) (18,726 ) Interest on contingencies and contracts (315,620 ) (234,368 ) (222,617 ) Bank charges and other (96,983 ) (75,408 ) (196,230 ) Foreign exchange, net 115,607 (30,505 ) (89,260 ) (727,180 ) (755,955 ) (953,195 ) Finance results, net (2,557,557 ) (1,983,996 ) (1,967,623 ) Reconciliation Finance expense (2,527,506 ) (4,727,561 ) (3,690,578 ) Finance income 1,258,441 407,710 974,604 Foreign exchange, net (1,099,536 ) (3,258,656 ) (526,946 ) Derivatives (188,956 ) 5,594,511 1,275,297 Finance results, net (2,557,557 ) (1,983,996 ) (1,967,623 ) |
Post-employment benefits (Table
Post-employment benefits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Post-employment Benefits | December 31, 2021 December 31, 2020 Defined contribution Futura II 190 186 Defined benefit Futura 198,761 163,972 Health Plan 470,524 564,576 669,475 728,734 |
Summary of Defined Benefit Obligation and Fair Value of Plan Assets | The details of the present value of the defined benefit obligation and the fair value of plan assets are as follows: December 31, 2021 December 31, 2020 December 31, 2019 Actuarial obligation at beginning of the year 1,249,156 1,249,630 1,012,792 Current service cost 487 540 480 Interest on actuarial obligation 88,299 89,253 91,849 Actuarial (gain) loss arising from financial assumptions (183,159 ) (58,250 ) 211,030 Actuarial loss (gain) arising from experience adjustment 77,111 30,267 (1,216 ) Actuarial loss arising from demographic assumptions — 14 — Benefit payments (70,201 ) (62,298 ) (65,305 ) Actuarial obligation at the end of the year 1,161,693 1,249,156 1,249,630 Fair value of plan assets at the beginning of the year (520,608 ) (544,988 ) (433,174 ) Interest income (35,809 ) (38,452 ) (39,299 ) Return on investments in the year (excluding interest income) 24,143 34,370 (105,417 ) Employer contributions (30,336 ) (33,836 ) (32,403 ) Benefit payments 70,202 62,298 65,305 Fair value of plan assets at the end of the year (492,408 ) (520,608 ) (544,988 ) Net defined benefit liability 669,285 728,548 704,642 |
Summary of Expense Recognized in Profit or Loss | Total expense recognized in profit or loss is as follows: December 31, 2021 December 31, 2020 December 31, 2019 Current service cost (487 ) (540 ) (480 ) Interest on actuarial obligation (52,490 ) (45,567 ) (45,601 ) (52,977 ) (46,107 ) ( ) |
Summary of Amount Recognised as Accumulated Other Comprehensive Income | Total amount recognized as other accumulated comprehensive income: December 31, 2021 December 31, 2020 December 31, 2019 Accumulated at the beginning of the year 59,904 66,305 170,702 Actuarial gain (loss) arising from financial assumptions 183,156 58,250 (211,030 ) Actuarial (loss) gain arising from experience adjustment (77,112 ) (30,267 ) 1,216 Actuarial loss arising from demographic assumptions — (14 ) — Return on investments in the year (excluding interest income) (24,145 ) (34,370 ) 105,417 Accumulated at the end of the year 141,803 59,904 66,305 |
Summary of Plan Assets | The plan assets are composed of the following: December 31, 202 1 December 31, 20 20 Amount % Amount % Fixed income bonds 484,847 99.99% 513,470 99.96% Other 48 0.01% 180 0.04% 484,895 100.00% 513,650 100.00% |
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, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Discount rate (per year) 8.64% 7.20% 9.09% 7.43% Inflation rate (per year) 3.25% 3.00% 3.50% 3.50% Future salary increases (per year) N/A N/A 6.60% 6.60% Aging factor N/A N/A 3.00% N/A Increase in pension plans (per year) 3.25% 3.00% 3.00% 6.60% Overall mortality (segregated by gender) N/A N/A AT-2000 N/A Disable mortality table N/A N/A IAPB-1957 N/A Entry into disability (modified) N/A N/A UP-84 Modified N/A Turnover N/A N/A 0.60/ (services time +1) N/A |
Summary of Changes in Discount Rate | Change in the discount rate for the statement of financial position date in one of the relevant actual assumptions, while maintaining other assumptions, would have affected the defined benefit obligation as shown below: Discount rate 0.50% (0.50)% Defined benefit (28,170 ) 30,525 Health plan (25,019 ) 27,708 |
Share-based payment (Tables)
Share-based payment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Summary of Share-based payment plan (Equity-settled) | On December 31, 2021, the Company established the following share-based payment arrangements: Program Vesting conditions Cosan - Investe I 3 years of service from the grant date and achievement of specific metrics that can vary between 0% and 200% (to calculate the fair value, the achievement of 100% was considered). Performance shares will have a specific weight, according to the target established by the Board of Directors. Cosan - Investe II 4 years of service from the grant date and achievement of specific metrics that can vary between 0% and 150% (to calculate the fair value, the achievement of 100% was considered). Performance shares will have a specific weight, according to the target established by the Board of Directors. Cosan - Investe III 5 years of service from the grant date with restricted shares and additional restricted shares being delivered. The restricted shares being equivalent to 25% of the participant's Long-Term Incentive Program and the additional restricted shares transferred as a result of the Company's Matching. Rumo –Special Program 2021 5 years of service from the grant date and achievement of specific metrics. Rumo - Program 2021 3 years of service from the grant date and achievement of specific metrics that can vary between 0% and 150% (to calculate the fair value, the achievement of 100% was considered). |
Summary of share-based payment arrangements of share options | 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 1,096,000 (954,028 ) 141,972 July 31, 2017 Cosan S.A. 5 1,192,428 (396,848 ) 795,580 July 31, 2018 Cosan S.A. 5 842,408 (107,576 ) 734,832 July 31, 2019 Cosan S.A. 5 229,020 (20,080 ) 208,940 July 31, 2020 Cosan S.A. 5 68,972 (6,704 ) 62,268 July 31, 2021 - Invest I Cosan S.A. 3 424,839 — 424,839 September 10, 2021 - Invest II Cosan S.A. 4 5,283,275 (660,410 ) 4,622,865 October 11, 2021 - Invest III Cosan S.A. 5 809,944 — 809,944 9,946,886 (2,145,646 ) 7,801,240 April 20, 2017 Comgás 5 61,300 (61,300 ) — August 12, 2017 Comgás 5 97,780 (97,780 ) — August 1, 2018 Comgás 5 96,787 (17,761 ) 79,026 July 31, 2019 Comgás 5 83,683 (14,794 ) 68,889 February 1, 2020 Compass Gás e Energia 5 1,858,969 (1,858,969 ) — 2,198,519 (2,050,604 ) 147,915 January 2, 2017 Rumo 5 1,476,000 (1,476,000 ) — September 1, 2017 Rumo 5 870,900 (255,250 ) 615,650 August 1, 2018 Rumo 5 1,149,544 (308,417 ) 841,127 August 15, 2019 Rumo 5 843,152 (147,214 ) 695,938 November 11, 2020 Rumo 5 776,142 (115,303 ) 660,839 May 05, 2021 Rumo 5 1,481,000 (414,702 ) 1,066,298 September 15, 2021 Rumo 3 1,560,393 (8,422 ) 1,551,971 8,157,131 (2,725,308 ) 5,431,823 Share-based payment plan August 18, 2011 Cosan S.A. 1 to 12 6,006,504 (6,006,504 ) — August 31, 2015 Cosan S.A. 5 to 7 463,906 (463,906 ) — 6,470,410 (6,470,410 ) — Cash-settled transactions July 31, 2019 Moove 5 132,670 — 132,670 July 31, 2020 Moove 5 106,952 — 106,952 July 31, 2021 Moove 3 80,729 — 80,729 August 1 st 2021 Compass Gás e Energia 2 26,625 — 26,625 August 1 st 2021 Compass Comercialização 2 31,535 — 31,535 August 1 st 2021 Compass Gás e Energia 3 152,770 — 152,770 August 1 st 2021 TRSP 3 33,634 — 33,634 November 1 st 2021 Comgás 3 172,251 — 172,251 November 1 st 2021 Compass Gás e Energia 3 1,474,367 — 1,474,367 2,211,533 — 2,211,533 Total 28,984,479 (13,391,968 ) 15,592,511 |
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 31, 2021 and 2020 and the principal assumptions used in applying the Black-Scholes model were as follows: Stock grant programs Cosan S.A. Rumo S.A. Comgás Compass Gás e Energia December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Key assumptions Share price at grant date 23.20 83.73 18.20 20.01 78.58 — 27.27 13.58 Risk-free interest rate 6.82% 6.94% 6.94% 6.94% 6.82% 6.94% N.A. N.A. Volatility factor 36.50% 36.50% 26.51% 36.50% 32.81% 32.81% N.A. 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 as follows: At January 1, 2020 (i) 11,478,287 Granted (i) 3,131,000 Vested (i) (3,875,167 ) Canceled (i) (197,330 ) At December 31, 2020 (i) 10,536,790 Granted 11,531,359 Vested (6,200,231 ) Canceled (275,407 ) At December 31, 2021 15,592,511 (i) On May 6, 2021, the Company split the issued shares, in the proportion of 1:4 |
Operations and Corporate Reor_2
Operations and Corporate Reorganization - Additional Information (Detail) | Jul. 03, 2020shares |
Cosan Logística S.A. shares [member] | |
Disclosure of operations and corporate reorganization [line items] | |
Shares exchange ratio | 0.25360679585 |
Cosan S.A. share or Cosan S.A. American Depositary Share [Member] | |
Disclosure of operations and corporate reorganization [line items] | |
Shares exchange ratio | 0.772788 |
Cosan S.A. share [Member] | |
Disclosure of operations and corporate reorganization [line items] | |
Shares exchange ratio | 3.943112 |
Ordinary shares Class A and Class B [Member] | Cosan S.A. American Depositary Share [Member] | |
Disclosure of operations and corporate reorganization [line items] | |
Number of depositary receipt received from conversion | 1.29401595263 |
Company history - Additional In
Company history - Additional Information (Detail) R$ / shares in Units, R$ in Thousands | Oct. 10, 2021BRL (R$) | Sep. 10, 2021BRL (R$)shares | Sep. 09, 2021BRL (R$)R$ / sharesshares | Sep. 01, 2021BRL (R$) | Aug. 23, 2021BRL (R$)Item | Aug. 10, 2021BRL (R$)shares | Jun. 01, 2021shares | May 20, 2021 | Oct. 26, 2020BRL (R$) | Aug. 28, 2020BRL (R$)R$ / sharesshares | Jul. 17, 2020BRL (R$) | May 27, 2020BRL (R$) | Jan. 30, 2020BRL (R$)Item | Jan. 14, 2020BRL (R$)shares | Nov. 01, 2019BRL (R$) | Mar. 28, 2019BRL (R$)Installment | Dec. 31, 2021BRL (R$)shares | Dec. 31, 2020BRL (R$) | Dec. 31, 2019BRL (R$) | Feb. 11, 2022 | Oct. 29, 2021BRL (R$) | Oct. 22, 2021BRL (R$) | Oct. 19, 2021BRL (R$) | Sep. 04, 2021BRL (R$) | May 13, 2021BRL (R$)shares | Apr. 09, 2020BRL (R$)shares | |
Development of the Company | |||||||||||||||||||||||||||
Contractual Term | 30 years | ||||||||||||||||||||||||||
Consolidated working capital | R$ 14336147 | R$ 10887874 | |||||||||||||||||||||||||
Profit for the year | 6,696,460 | 1,488,294 | R$ 2893373 | ||||||||||||||||||||||||
Cash and cash equivalents and marketable securities | R$ 20546826 | R$ 17312027 | |||||||||||||||||||||||||
Maximum period allowed for gas cost adjustment | 1 year | ||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||
Bradesco | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Preferred share issue (in shares) | R$ 810015 | R$ 630000 | |||||||||||||||||||||||||
Preferred share issued as percentage of share capital | 4.47% | ||||||||||||||||||||||||||
TUP Porto São Luis S.A. [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Acquisition consideration price | R$ 804803 | ||||||||||||||||||||||||||
Percentage of binding proposal for share capital acquisition | 100.00% | ||||||||||||||||||||||||||
Percentage of share capital acquired | 50.00% | 100.00% | |||||||||||||||||||||||||
Number of mineral projects | Item | 3 | ||||||||||||||||||||||||||
Percentage of minority interest recognised | 49.00% | ||||||||||||||||||||||||||
Common shares [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Number of shares issued | shares | 1,874,070,932 | ||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||
Compass group acquisition | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Acquisition consideration price | [1] | R$ 99385 | |||||||||||||||||||||||||
Additional payment for the acquisition | R$ 4385 | ||||||||||||||||||||||||||
Percentage of share capital acquired | 100.00% | ||||||||||||||||||||||||||
Preliminary goodwill generated from acquisition | R$ 94892 | ||||||||||||||||||||||||||
Compass group acquisition | Gas and Power [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Number of pillars focused by segment | Item | 4 | ||||||||||||||||||||||||||
Cosan Lubes Investments Limited [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Number of shares issued | shares | 34,963,764 | ||||||||||||||||||||||||||
Rumo S.A. [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Shares held in subsidiary | shares | 40,065,607 | ||||||||||||||||||||||||||
Number of shares issued | shares | 1,854,158,791 | ||||||||||||||||||||||||||
Rumo S.A. [member] | Common shares [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Proceeds from issue of share through follow-on offering | R$ 6400000 | ||||||||||||||||||||||||||
Share issue price | R$ / shares | R$ 21.75 | ||||||||||||||||||||||||||
Number of shares issued | shares | 294,252,874 | ||||||||||||||||||||||||||
Rumo S.A. [member] | Railroad Network [Member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
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 | Installment | 120 | ||||||||||||||||||||||||||
Payments for auction | R$ 145239000 | ||||||||||||||||||||||||||
Comgas [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Number of shares issued | shares | 132,520,587 | ||||||||||||||||||||||||||
Rumo Malha Paulista S.A. [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Percentage of ownership held in subsidiary | [2] | 100.00% | 28.47% | ||||||||||||||||||||||||
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 | |||||||||||||||||||||||||
Raizen S A [Member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Number of shares not contributed in capital increase | shares | 2 | ||||||||||||||||||||||||||
Raizen S A [Member] | Shell Brands International A G | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Minimum period of license agreement to use the "Shell" brand | 13 years | ||||||||||||||||||||||||||
Raizen S A [Member] | Preference shares [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Issue of shares for investment agreement | R$ 6709671 | ||||||||||||||||||||||||||
Number of shares issued | shares | 906,712,350 | ||||||||||||||||||||||||||
Issue price (In R$ per share) | R$ / shares | R$ 7.4 | ||||||||||||||||||||||||||
Net amount | R$ 6599987 | ||||||||||||||||||||||||||
Funding costs | R$ 109684 | ||||||||||||||||||||||||||
Raizen S A [Member] | Preference shares [member] | Hédera Investimentos e Participações S.A | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Number of shares issued | shares | 330,602,900 | ||||||||||||||||||||||||||
Subscription Bonus | R$ 2423944 | ||||||||||||||||||||||||||
Market value adjustment to subscription bonus | 76,663 | ||||||||||||||||||||||||||
Subscription bonus net of market value adjustment | R$ 2347281 | ||||||||||||||||||||||||||
Preferred shares issued as percentage of share capital | 3.22% | ||||||||||||||||||||||||||
Raizen S A [Member] | Biosev S.A. [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Additional payment for the acquisition | R$ 4581899 | ||||||||||||||||||||||||||
Atlântico Participações Ltda. [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Shareholding percentage | 37.00% | ||||||||||||||||||||||||||
CIP | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Anticipated payment of obligations with non-controlling preferred shareholders | R$ 182373 | ||||||||||||||||||||||||||
Rumo [member] | Brado Logisticae Participacoes S A [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Percentage of ownership held in subsidiary | 77.65% | ||||||||||||||||||||||||||
Additional payment for the acquisition | R$ 388739 | ||||||||||||||||||||||||||
Percentage of share capital acquired | 15.42% | ||||||||||||||||||||||||||
Number of share acquired | shares | 2,000 | ||||||||||||||||||||||||||
Cosan Lubrificantese Especialidades S A [member] | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Percentage of ownership held in subsidiary | 100.00% | 100.00% | |||||||||||||||||||||||||
Tax credits granted | R$ 208118 | ||||||||||||||||||||||||||
China Communications Construction Company Limited | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Percentage of ownership held in subsidiary | 51.00% | ||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||
Compass Gas e Energia [Member] | Petrobras Gás S.A. – Gaspetro | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Percentage of interest in share capital proposed to be sold | 51.00% | ||||||||||||||||||||||||||
Amount to be paid for the acquisition of control of Gaspetro | R$ 2030000 | ||||||||||||||||||||||||||
Compass Gas e Energia [Member] | Investors | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Number of preferred shares agree to be subscribed (in shares) | shares | 30,853,032 | ||||||||||||||||||||||||||
Preferred stock agreed to be subsrcibed as a percent of share capital | 4.68% | ||||||||||||||||||||||||||
Compass Contribution | R$ 810000 | ||||||||||||||||||||||||||
Compass Gas e Energia [Member] | Bradesco Vida e Previdência S.A. (“Bradesco”), BC Gestão de Recursos Ltda., Prisma Capital Ltda. and Nucleus Capital Ltda | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Preferred stock agreed to be subsrcibed as a percent of share capital | 7.68% | ||||||||||||||||||||||||||
Preferred shares agree to be subscribed (in R$) | R$ 1440000 | ||||||||||||||||||||||||||
Compass Gas e Energia [Member] | Class B preferred shares | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Compass Contribution | R$ 2250015 | ||||||||||||||||||||||||||
Compass Gas e Energia [Member] | Compass Um Participacoes SA | Sulgás | |||||||||||||||||||||||||||
Development of the Company | |||||||||||||||||||||||||||
Acquisition consideration price | R$ 955244 | ||||||||||||||||||||||||||
Percentage of share capital acquired | 51.00% | ||||||||||||||||||||||||||
Price of minority interest acquired | R$ 917783 | ||||||||||||||||||||||||||
Preliminary goodwill generated from acquisition | R$ 2777415 | ||||||||||||||||||||||||||
Length of distribution network (in KM) | 1,400 | ||||||||||||||||||||||||||
Number of customers served | 68,000 | ||||||||||||||||||||||||||
Number of municipalities served | 42 | ||||||||||||||||||||||||||
Distributed volume of natural gas | 2,000,000 | ||||||||||||||||||||||||||
Percentage of minority interest recognised | 49.00% | ||||||||||||||||||||||||||
[1] | On July 17, 2020, the Compass made an additional payment for the acquisition of Compass Trading in the amount of R$ 4,385 , as provided for in the agreement. | ||||||||||||||||||||||||||
[2] | Changes in equity interest resulting from the Corporate Reorganization. |
Basis of accounting - Schedule
Basis of accounting - Schedule of change in accounting policy (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Basis of accounting | |||
Net sales | R$ 25865001 | R$ 20437835 | R$ 20611409 |
Cost of sales | (19,864,248) | (14,999,823) | (14,616,985) |
Gross profit | 6,000,753 | 5,438,012 | 5,994,424 |
Selling expenses | (723,419) | (661,907) | (666,114) |
General and administrative expenses | (1,572,357) | (1,589,819) | (1,236,062) |
Other expenses, net | 382,600 | 176,869 | 404,686 |
Operating expenses | (1,913,176) | (2,074,857) | (1,497,490) |
Profit before equity in earnings of investees, finance results and income taxes | 4,087,577 | 3,363,155 | 4,496,934 |
Equity in earnings of investees | 4,720,856 | 611,802 | 1,132,637 |
Finance results, net | (2,557,557) | (1,983,996) | (1,967,623) |
Profit before income taxes | 6,250,876 | 1,990,961 | 3,661,948 |
Income taxes | 445,584 | (502,667) | (779,596) |
Profit from discontinued operation, net of tax | 11,021 | ||
Profit for the year | R$ 6696460 | 1,488,294 | 2,893,373 |
Previously stated [member] | |||
Basis of accounting | |||
Net sales | 20,437,835 | 20,611,409 | |
Cost of sales | (14,501,725) | (14,160,233) | |
Gross profit | 5,936,110 | 6,451,176 | |
Selling expenses | (959,146) | (1,122,866) | |
General and administrative expenses | (1,790,678) | (1,236,062) | |
Other expenses, net | 176,869 | 404,686 | |
Operating expenses | (2,572,955) | (1,954,242) | |
Profit before equity in earnings of investees, finance results and income taxes | 3,363,155 | 4,496,934 | |
Equity in earnings of investees | 611,802 | 1,132,637 | |
Finance results, net | (1,983,996) | (1,967,623) | |
Profit before income taxes | 1,990,961 | 3,661,948 | |
Income taxes | (502,667) | (779,596) | |
Profit from discontinued operation, net of tax | 11,021 | ||
Profit for the year | 1,488,294 | 2,893,373 | |
Reclassification | |||
Basis of accounting | |||
Net sales | |||
Cost of sales | (498,098) | (456,752) | |
Gross profit | (498,098) | (456,752) | |
Selling expenses | 297,239 | 456,752 | |
General and administrative expenses | 200,859 | ||
Other expenses, net | |||
Operating expenses | 498,098 | 456,752 | |
Profit before equity in earnings of investees, finance results and income taxes | |||
Equity in earnings of investees | |||
Finance results, net | |||
Profit before income taxes | |||
Income taxes | |||
Profit from discontinued operation, net of tax | 0 | ||
Profit for the year |
Basis of accounting - Additiona
Basis of accounting - Additional Information (Detail) R$ in Thousands | 12 Months Ended |
Dec. 31, 2021BRL (R$)shares | |
Basis of accounting | |
Financial assets and applicable taxes derecognised | R$ 734903 |
Investment in subsidiary recorded | 329,118 |
Amount recognized in capital reserve | R$ 313758 |
Rumo S.A. [member] | |
Basis of accounting | |
Number of shares owned | shares | 40,065,607 |
Shareholding percentage | 2.16% |
Cosan Logística [Member] | |
Basis of accounting | |
Number of shares owned | shares | 477,196 |
Shareholding percentage | 0.10% |
Accounting policies - Schedule
Accounting policies - Schedule of Exchange Rates of Real for Functional Currencies of Subsidiaries (Detail) - R$ / shares | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
United States dollar (U.S.$) [member] | |||
Disclosure of foreign exchange rates [line items] | |||
Foreign currency exchange rate | 5.581 | 5.197 | 4.031 |
British pound (GBP) [member] | |||
Disclosure of foreign exchange rates [line items] | |||
Foreign currency exchange rate | 7.524 | 7.101 | 5.325 |
Euro Member Countries, Euro | |||
Disclosure of foreign exchange rates [line items] | |||
Foreign currency exchange rate | 6.321 | 6.378 | 4.531 |
Segment Information - Summary o
Segment Information - Summary of Income or Loss (Detail) - BRL (R$) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of operating segments [line items] | |||
Gross Sale | R$ 31337931000 | R$ 24926166000 | R$ 24516586000 |
Net sales | 25,865,001,000 | 20,437,835,000 | 20,611,409,000 |
Cost of sales | (19,864,248,000) | (14,999,823,000) | (14,616,985,000) |
Gross profit | 6,000,753,000 | 5,438,012,000 | 5,994,424,000 |
Selling expenses | (723,419,000) | (661,907,000) | (666,114) |
General and administrative expenses | (1,572,357,000) | (1,589,819,000) | (1,236,062,000) |
Other income (expenses), net | 382,600,000 | 176,869,000 | 404,686,000 |
Interest in earnings of associates | (130,225,000) | (28,801,000) | (1,231,000) |
Interest in earnings of joint ventures | (4,590,631,000) | (583,001,000) | (1,131,406,000) |
Finance results, net | 2,557,557,000 | 1,983,996,000 | 1,967,623,000 |
Finance expense | (2,527,506,000) | (4,727,561,000) | (3,690,578,000) |
Finance income | 1,258,441,000 | 407,710,000 | 974,604,000 |
Foreign exchange, net | (1,099,536,000) | (3,258,656,000) | (526,946,000) |
Derivatives | (188,956,000) | 5,594,511,000 | 1,275,297,000 |
Income taxes | 445,584,000 | (502,667,000) | (779,596,000) |
Profit (loss) from continuing operations | 6,696,460,000 | 1,488,294,000 | 2,882,352,000 |
Profit (loss) from discontinued operation, net of tax | 11,021,000 | ||
Profit (loss) for the year | 6,696,460,000 | 1,488,294,000 | 2,893,373,000 |
Profit (loss) attributable to: | |||
Owners of the Company | 6,312,140,000 | 859,482,000 | 1,316,341,000 |
Non-controlling interests | 384,320,000 | 628,812,000 | 1,577,032,000 |
Profit (loss) for the year | 6,696,460,000 | 1,488,294,000 | 2,893,373,000 |
Other select data | |||
Depreciation and amortization | 2,504,384,000 | 2,340,854,000 | 2,287,877,000 |
EBITDA | 11,312,817,000 | 6,315,811,000 | (7,917,448,000) |
Additions to Property Plant and Equipment Intangible and Contract Assets | 4,774,839,000 | 4,034,688,000 | 2,762,937,000 |
Reconciliation of EBITDA | |||
Profit (loss) for the year | 6,696,460,000 | 1,488,294,000 | 2,882,352,000 |
Income taxes | 445,584,000 | (502,667,000) | (779,596,000) |
Finance results, net | 2,557,557,000 | 1,983,996,000 | 1,967,623,000 |
Depreciation and amortization | 2,504,384,000 | 2,340,854,000 | 2,287,877,000 |
EBITDA | 11,312,817,000 | 6,315,811,000 | (7,917,448,000) |
Brazil [member] | |||
Disclosure of operating segments [line items] | |||
Net sales | 22,529,634,000 | 18,100,012,000 | 18,522,108,000 |
Domestic market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 30,325,268,000 | 24,084,002,000 | 24,151,529,000 |
External market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 1,012,663,000 | 842,164,000 | 365,057,000 |
Operating segments [member] | Gas and Power [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 15,711,939,000 | 12,024,615,000 | 12,007,634,000 |
Net sales | 12,330,209,000 | 9,093,170,000 | 9,514,222,000 |
Cost of sales | (9,755,425,000) | (6,932,288,000) | (6,859,090,000) |
Gross profit | 2,574,784,000 | 2,160,882,000 | 2,655,132,000 |
Selling expenses | (125,412,000) | (156,892,000) | (157,740,000) |
General and administrative expenses | (502,048,000) | (376,615,000) | (404,441,000) |
Other income (expenses), net | 25,569,000 | 56,176,000 | (31,534,000) |
Interest in earnings of associates | |||
Interest in earnings of joint ventures | |||
Finance results, net | 289,616,000 | (282,773,000) | 180,381,000 |
Finance expense | (900,783,000) | (374,252,000) | (495,958,000) |
Finance income | 703,204,000 | 72,500,000 | 315,634,000 |
Foreign exchange, net | (60,953,000) | (150,227,000) | (27,518,000) |
Derivatives | (31,084,000) | 169,206,000 | 27,461,000 |
Income taxes | (59,360,000) | 460,312,000 | (588,389,000) |
Profit (loss) from continuing operations | 1,742,637,000 | 940,466,000 | 1,292,647,000 |
Profit (loss) from discontinued operation, net of tax | |||
Profit (loss) for the year | 1,742,637,000 | 940,466,000 | 1,292,647,000 |
Profit (loss) attributable to: | |||
Owners of the Company | 1,650,725,000 | 923,420,000 | 1,255,369,000 |
Non-controlling interests | 91,912,000 | 17,046,000 | 37,278,000 |
Profit (loss) for the year | 1,742,637,000 | 940,466,000 | 1,292,647,000 |
Other select data | |||
Depreciation and amortization | 559,994,000 | 500,714,000 | 459,584,000 |
EBITDA | 2,532,887,000 | 2,184,265,000 | (2,521,001,000) |
Additions to Property Plant and Equipment Intangible and Contract Assets | 1,269,886,000 | 1,006,881,000 | 775,769,000 |
Reconciliation of EBITDA | |||
Profit (loss) for the year | 1,742,637,000 | 940,466,000 | 1,292,647,000 |
Income taxes | (59,360,000) | 460,312,000 | (588,389,000) |
Finance results, net | 289,616,000 | (282,773,000) | 180,381,000 |
Depreciation and amortization | 559,994,000 | 500,714,000 | 459,584,000 |
EBITDA | 2,532,887,000 | 2,184,265,000 | (2,521,001,000) |
Operating segments [member] | Gas and Power [member] | Domestic market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 15,711,939,000 | 12,024,615,000 | 12,007,634,000 |
Operating segments [member] | Gas and Power [member] | External market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | |||
Operating segments [member] | Moove [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 7,697,074,000 | 5,588,754,000 | 5,072,163,000 |
Net sales | 6,112,457,000 | 4,415,575,000 | 4,046,296,000 |
Cost of sales | (4,808,643,000) | (3,380,304,000) | (3,185,745,000) |
Gross profit | 1,303,814,000 | 1,035,271,000 | 860,551,000 |
Selling expenses | (551,520,000) | (471,829,000) | (492,482,000) |
General and administrative expenses | (269,810,000) | (229,672,000) | (173,212,000) |
Other income (expenses), net | 23,414,000 | 34,876,000 | 31,806,000 |
Interest in earnings of associates | (439,000) | ||
Interest in earnings of joint ventures | |||
Finance results, net | 63,797,000 | (129,342,000) | 96,794,000 |
Finance expense | (61,870,000) | (30,910,000) | (38,514,000) |
Finance income | 58,071,000 | 20,086,000 | 22,385,000 |
Foreign exchange, net | (66,118,000) | (161,636,000) | (92,989,000) |
Derivatives | 6,120,000 | 43,118,000 | 12,324,000 |
Income taxes | 147,138,000 | 87,941,000 | (55,206,000) |
Profit (loss) from continuing operations | 294,963,000 | 151,363,000 | 75,102,000 |
Profit (loss) from discontinued operation, net of tax | |||
Profit (loss) for the year | 294,963,000 | 151,363,000 | 75,102,000 |
Profit (loss) attributable to: | |||
Owners of the Company | 205,139,000 | 104,570,000 | 72,971,000 |
Non-controlling interests | 89,824,000 | 46,793,000 | 2,131,000 |
Profit (loss) for the year | 294,963,000 | 151,363,000 | 75,102,000 |
Other select data | |||
Depreciation and amortization | 96,852,000 | 108,687,000 | 97,827,000 |
EBITDA | 602,750,000 | 477,333,000 | (324,929,000) |
Additions to Property Plant and Equipment Intangible and Contract Assets | 42,536,000 | 29,658,000 | 32,854,000 |
Reconciliation of EBITDA | |||
Profit (loss) for the year | 294,963,000 | 151,363,000 | 75,102,000 |
Income taxes | 147,138,000 | 87,941,000 | (55,206,000) |
Finance results, net | 63,797,000 | (129,342,000) | 96,794,000 |
Depreciation and amortization | 96,852,000 | 108,687,000 | 97,827,000 |
EBITDA | 602,750,000 | 477,333,000 | (324,929,000) |
Operating segments [member] | Moove [member] | Domestic market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 7,021,757,000 | 5,117,770,000 | 4,948,678,000 |
Operating segments [member] | Moove [member] | External market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 675,317,000 | 470,984,000 | 123,485,000 |
Operating segments [member] | Logistics [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 7,944,312,000 | 7,349,804,000 | 7,473,730,000 |
Net sales | 7,439,632,000 | 6,966,159,000 | 7,087,840,000 |
Cost of sales | (5,352,040,000) | (4,721,507,000) | (4,608,781,000) |
Gross profit | 2,087,592,000 | 2,244,652,000 | 2,479,059,000 |
Selling expenses | (38,959,000) | (30,670,000) | (6,983,000) |
General and administrative expenses | (472,739,000) | (411,336,000) | (364,555,000) |
Other income (expenses), net | (69,017,000) | 128,388,000 | (24,084,000) |
Interest in earnings of associates | (12,857,000) | (13,087,000) | (21,876,000) |
Interest in earnings of joint ventures | |||
Finance results, net | 1,359,940,000 | (1,503,221,000) | 1,197,817,000 |
Finance expense | (705,623,000) | (2,920,241,000) | (1,871,221,000) |
Finance income | 399,134,000 | 177,206,000 | 202,875,000 |
Foreign exchange, net | (489,952,000) | (1,577,342,000) | (205,839,000) |
Derivatives | (563,499,000) | 2,817,156,000 | 676,368,000 |
Income taxes | 4,053,000 | 169,990,000 | (129,247,000) |
Profit (loss) from continuing operations | 155,741,000 | 270,910,000 | 778,249,000 |
Profit (loss) from discontinued operation, net of tax | |||
Profit (loss) for the year | 155,741,000 | 270,910,000 | 778,249,000 |
Profit (loss) attributable to: | |||
Owners of the Company | 150,539,000 | 43,602,000 | 157,216,000 |
Non-controlling interests | 5,202,000 | 227,308,000 | 621,033,000 |
Profit (loss) for the year | 155,741,000 | 270,910,000 | 778,249,000 |
Other select data | |||
Depreciation and amortization | 1,830,683,000 | 1,715,527,000 | 1,716,185,000 |
EBITDA | 3,350,417,000 | 3,659,648,000 | (3,821,498,000) |
Additions to Property Plant and Equipment Intangible and Contract Assets | 3,453,407,000 | 2,979,213,000 | 1,943,063,000 |
Reconciliation of EBITDA | |||
Profit (loss) for the year | 155,741,000 | 270,910,000 | 778,249,000 |
Income taxes | 4,053,000 | 169,990,000 | (129,247,000) |
Finance results, net | 1,359,940,000 | (1,503,221,000) | 1,197,817,000 |
Depreciation and amortization | 1,830,683,000 | 1,715,527,000 | 1,716,185,000 |
EBITDA | 3,350,417,000 | 3,659,648,000 | (3,821,498,000) |
Operating segments [member] | Logistics [member] | Domestic market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 7,606,966,000 | 6,978,624,000 | 7,232,158,000 |
Operating segments [member] | Logistics [member] | External market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 337,346,000 | 371,180,000 | 241,572,000 |
Operating segments [member] | Raízen | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 188,825,984,000 | 127,832,718,000 | 140,230,052,000 |
Net sales | 175,047,270,000 | 118,049,722,000 | 129,349,463,000 |
Cost of sales | (163,367,574,000) | (110,800,498,000) | (122,429,335,000) |
Gross profit | 11,679,696,000 | 7,249,224,000 | 6,920,128,000 |
Selling expenses | (3,882,690,000) | (3,264,756,000) | (3,069,304,000) |
General and administrative expenses | (1,788,180,000) | (1,263,733,000) | (1,232,666,000) |
Other income (expenses), net | 717,792,000 | 554,126,000 | 2,021,001,000 |
Interest in earnings of associates | 43,534,000 | 88,323,000 | (115,168,000) |
Interest in earnings of joint ventures | 87,567,000 | 7,206,000 | |
Finance results, net | 1,967,124,000 | (1,431,267,000) | 1,296,237,000 |
Finance expense | (1,606,724,000) | (2,345,771,000) | (2,180,426,000) |
Finance income | 580,266,000 | 690,678,000 | 767,336,000 |
Foreign exchange, net | (1,076,722,000) | (3,821,462,000) | (571,377,000) |
Derivatives | 136,056,000 | 4,045,288,000 | 688,230,000 |
Income taxes | 1,350,252,000 | 537,004,000 | (923,156,000) |
Profit (loss) from continuing operations | 3,365,708,000 | 1,130,700,000 | 2,527,728,000 |
Profit (loss) from discontinued operation, net of tax | |||
Profit (loss) for the year | 3,365,708,000 | 1,130,700,000 | 2,527,728,000 |
Profit (loss) attributable to: | |||
Owners of the Company | 3,379,014,000 | 1,081,176,000 | 2,399,076,000 |
Non-controlling interests | (13,306,000) | 49,524,000 | 128,652,000 |
Profit (loss) for the year | 3,365,708,000 | 1,130,700,000 | 2,527,728,000 |
Other select data | |||
Depreciation and amortization | 6,393,642,000 | 5,059,239,000 | 3,625,854,000 |
EBITDA | 13,076,726,000 | 8,158,210,000 | (8,372,975,000) |
Additions to Property Plant and Equipment Intangible and Contract Assets | 5,282,100,000 | 3,159,415,000 | 3,586,261,000 |
Reconciliation of EBITDA | |||
Profit (loss) for the year | 3,365,708,000 | 1,130,700,000 | 2,527,728,000 |
Income taxes | 1,350,252,000 | 537,004,000 | (923,156,000) |
Finance results, net | 1,967,124,000 | (1,431,267,000) | 1,296,237,000 |
Depreciation and amortization | 6,393,642,000 | 5,059,239,000 | 3,625,854,000 |
EBITDA | 13,076,726,000 | 8,158,210,000 | (8,372,975,000) |
Operating segments [member] | Raízen | Domestic market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 182,035,680,000 | 117,788,563,000 | 132,455,731,000 |
Operating segments [member] | Raízen | External market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 6,790,304,000 | 10,044,155,000 | 7,774,321,000 |
Operating segments [member] | Cosan Investiments | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 32,695,000 | ||
Net sales | 31,502,000 | ||
Cost of sales | |||
Gross profit | 31,502,000 | ||
Selling expenses | |||
General and administrative expenses | (6,499,000) | ||
Other income (expenses), net | 21,017,000 | ||
Interest in earnings of associates | |||
Interest in earnings of joint ventures | |||
Finance results, net | (3,199,000) | ||
Finance expense | (51,000) | ||
Finance income | 3,250,000 | ||
Foreign exchange, net | |||
Derivatives | |||
Income taxes | 4,215,000 | ||
Profit (loss) from continuing operations | 45,004,000 | ||
Profit (loss) for the year | 45,004,000 | ||
Profit (loss) attributable to: | |||
Owners of the Company | 22,502,000 | ||
Non-controlling interests | 22,502,000 | ||
Profit (loss) for the year | 45,004,000 | ||
Other select data | |||
Depreciation and amortization | 39,000 | ||
EBITDA | 46,059,000 | ||
Additions to Property Plant and Equipment Intangible and Contract Assets | 278,000 | ||
Reconciliation of EBITDA | |||
Profit (loss) for the year | 45,004,000 | ||
Income taxes | 4,215,000 | ||
Finance results, net | (3,199,000) | ||
Depreciation and amortization | 39,000 | ||
EBITDA | 46,059,000 | ||
Operating segments [member] | Cosan Investiments | Domestic market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 32,695,000 | ||
Operating segments [member] | Cosan Investiments | External market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | |||
Unallocated amounts [member] | Cosan Corporate [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 9,002,000 | 880,000 | 106,000 |
Net sales | 8,292,000 | 818,000 | 98,000 |
Cost of sales | (5,231,000) | (3,611,000) | (416,000) |
Gross profit | 3,061,000 | (2,793,000) | (318,000) |
Selling expenses | (7,528,000) | (2,516,000) | (8,909,000) |
General and administrative expenses | (321,261,000) | (572,196,000) | (293,854,000) |
Other income (expenses), net | 381,617,000 | (42,571,000) | 428,498,000 |
Interest in earnings of associates | (2,195,679,000) | (1,746,969,000) | (2,822,914,000) |
Interest in earnings of joint ventures | (4,590,631,000) | (583,001,000) | (1,131,406,000) |
Finance results, net | 847,403,000 | (68,660,000) | 492,631,000 |
Finance expense | (859,179,000) | (1,402,158,000) | (1,284,885,000) |
Finance income | 94,782,000 | 137,918,000 | 433,710,000 |
Foreign exchange, net | (482,513,000) | (1,369,451,000) | (200,600,000) |
Derivatives | 399,507,000 | 2,565,031,000 | 559,144,000 |
Income taxes | (541,630,000) | (215,576,000) | (6,754,000) |
Profit (loss) from continuing operations | 6,536,426,000 | 1,856,810,000 | 3,580,352,000 |
Profit (loss) from discontinued operation, net of tax | 11,021,000 | ||
Profit (loss) for the year | 6,536,426,000 | 1,856,810,000 | 3,591,373,000 |
Profit (loss) attributable to: | |||
Owners of the Company | 6,361,546,000 | 1,519,145,000 | 3,586,632,000 |
Non-controlling interests | 174,880,000 | 337,665,000 | 4,741,000 |
Profit (loss) for the year | 6,536,426,000 | 1,856,810,000 | 3,591,373,000 |
Other select data | |||
Depreciation and amortization | 16,818,000 | 15,926,000 | 14,281,000 |
EBITDA | 6,859,017,000 | 1,725,820,000 | (4,094,018,000) |
Additions to Property Plant and Equipment Intangible and Contract Assets | 8,732,000 | 18,936,000 | 11,251,000 |
Reconciliation of EBITDA | |||
Profit (loss) for the year | 6,536,426,000 | 1,856,810,000 | 3,580,352,000 |
Income taxes | (541,630,000) | (215,576,000) | (6,754,000) |
Finance results, net | 847,403,000 | (68,660,000) | 492,631,000 |
Depreciation and amortization | 16,818,000 | 15,926,000 | 14,281,000 |
EBITDA | 6,859,017,000 | 1,725,820,000 | (4,094,018,000) |
Unallocated amounts [member] | Cosan Corporate [member] | Domestic market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | 9,002,000 | 880,000 | 106,000 |
Unallocated amounts [member] | Cosan Corporate [member] | External market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | |||
Deconsolidated effects [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | (188,825,984,000) | (127,832,718,000) | (140,230,052,000) |
Net sales | (175,047,270,000) | (118,049,722,000) | (129,349,463,000) |
Cost of sales | 163,367,574,000 | 110,800,498,000 | 122,429,335,000 |
Gross profit | (11,679,696,000) | (7,249,224,000) | (6,920,128,000) |
Selling expenses | 3,882,690,000 | 3,264,756,000 | 3,069,304,000 |
General and administrative expenses | 1,788,180,000 | 1,263,733,000 | 1,232,666,000 |
Other income (expenses), net | (717,792,000) | (554,126,000) | (2,021,001,000) |
Interest in earnings of associates | (43,534,000) | (88,323,000) | 115,168,000 |
Interest in earnings of joint ventures | (87,567,000) | (7,206,000) | |
Finance results, net | (1,967,124,000) | 1,431,267,000 | (1,296,237,000) |
Finance expense | 1,606,724,000 | 2,345,771,000 | 2,180,426,000 |
Finance income | (580,266,000) | (690,678,000) | (767,336,000) |
Foreign exchange, net | 1,076,722,000 | 3,821,462,000 | 571,377,000 |
Derivatives | (136,056,000) | (4,045,288,000) | (688,230,000) |
Income taxes | (1,350,252,000) | 537,004,000 | 923,156,000 |
Profit (loss) from continuing operations | (3,365,708,000) | (1,130,700,000) | (2,527,728,000) |
Profit (loss) from discontinued operation, net of tax | |||
Profit (loss) for the year | (3,365,708,000) | (1,130,700,000) | (2,527,728,000) |
Profit (loss) attributable to: | |||
Owners of the Company | (3,379,014,000) | (1,081,176,000) | (2,399,076,000) |
Non-controlling interests | 13,306,000 | (49,524,000) | (128,652,000) |
Profit (loss) for the year | (3,365,708,000) | (1,130,700,000) | (2,527,728,000) |
Other select data | |||
Depreciation and amortization | (6,393,642,000) | (5,059,239,000) | (3,625,854,000) |
EBITDA | (13,076,726,000) | (8,158,210,000) | 8,372,975,000 |
Additions to Property Plant and Equipment Intangible and Contract Assets | (5,282,100,000) | (3,159,415,000) | (3,586,261,000) |
Reconciliation of EBITDA | |||
Profit (loss) for the year | (3,365,708,000) | (1,130,700,000) | (2,527,728,000) |
Income taxes | (1,350,252,000) | 537,004,000 | 923,156,000 |
Finance results, net | (1,967,124,000) | 1,431,267,000 | (1,296,237,000) |
Depreciation and amortization | (6,393,642,000) | (5,059,239,000) | (3,625,854,000) |
EBITDA | (13,076,726,000) | (8,158,210,000) | 8,372,975,000 |
Deconsolidated effects [member] | Domestic market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | (182,035,680,000) | (117,788,563,000) | (132,455,731,000) |
Deconsolidated effects [member] | External market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | (6,790,304,000) | (10,044,155,000) | (7,774,321,000) |
Elimination of intersegment amounts [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | (57,091,000) | (37,887,000) | (37,047,000) |
Net sales | (57,091,000) | (37,887,000) | (37,047,000) |
Cost of sales | 57,091,000 | 37,887,000 | 37,047,000 |
Gross profit | |||
Selling expenses | |||
General and administrative expenses | |||
Other income (expenses), net | |||
Interest in earnings of associates | 2,078,311,000 | 1,731,255,000 | 2,843,998,000 |
Interest in earnings of joint ventures | |||
Finance results, net | |||
Finance expense | |||
Finance income | |||
Foreign exchange, net | |||
Derivatives | |||
Income taxes | |||
Profit (loss) from continuing operations | (2,078,311,000) | (1,731,255,000) | (2,843,998,000) |
Profit (loss) from discontinued operation, net of tax | |||
Profit (loss) for the year | (2,078,311,000) | (1,731,255,000) | (2,843,998,000) |
Profit (loss) attributable to: | |||
Owners of the Company | (2,078,311,000) | (1,731,255,000) | (3,755,847,000) |
Non-controlling interests | 911,849,000 | ||
Profit (loss) for the year | (2,078,311,000) | (1,731,255,000) | (2,843,998,000) |
Other select data | |||
Depreciation and amortization | (2,000) | ||
EBITDA | (2,078,313,000) | (1,731,255,000) | 2,843,998,000 |
Additions to Property Plant and Equipment Intangible and Contract Assets | |||
Reconciliation of EBITDA | |||
Profit (loss) for the year | (2,078,311,000) | (1,731,255,000) | (2,843,998,000) |
Income taxes | |||
Finance results, net | |||
Depreciation and amortization | (2,000) | ||
EBITDA | (2,078,313,000) | (1,731,255,000) | 2,843,998,000 |
Elimination of intersegment amounts [member] | Domestic market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | (57,091,000) | (37,887,000) | (37,047,000) |
Elimination of intersegment amounts [member] | External market [member] | |||
Disclosure of operating segments [line items] | |||
Gross Sale | |||
Elimination of intersegment amounts [member] | Raízen | |||
Disclosure of operating segments [line items] | |||
Net sales | R$ 4607102000 |
Segment Information - Summary_2
Segment Information - Summary of Financial Position (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of financial position: | ||||
Total assets | R$ 97842023 | R$ 83713565 | ||
Cash and cash equivalents | 16,174,130 | 13,642,918 | R$ 8472274 | R$ 3621798 |
Marketable securities | 4,388,007 | 3,669,109 | ||
Trade receivables | 2,745,853 | 2,033,441 | ||
Derivative financial instruments | 4,732,926 | 8,140,700 | ||
Inventories | 1,149,304 | 935,264 | ||
Sector financial assets | 558,310 | 241,749 | ||
Other financial assets | 320,193 | 69,126 | ||
Other current assets | 2,331,332 | 2,281,668 | ||
Other non-current assets | 6,755,242 | 4,338,418 | ||
Investments in associates | 780,067 | 383,851 | ||
Investments in joint ventures | 10,936,663 | 7,988,208 | ||
Biological assets | ||||
Investment property | 3,886,696 | |||
Contract asset | 705,982 | 695,938 | ||
Right-of-use assets | 7,947,267 | 7,916,230 | ||
Property, plant and equipment | 16,648,553 | 14,068,506 | ||
Intangible assets and goodwill | 17,781,498 | 17,308,439 | ||
Liabilities | (68,972,001) | (62,894,698) | ||
Loans, borrowings and debentures | (45,659,037) | (42,249,460) | (29,052,215) | |
Derivative financial instruments | (1,076,161) | (446,061) | ||
Trade payables | (3,253,504) | (2,630,054) | ||
Employee benefits payables | (552,991) | (336,466) | ||
Sector financial liabilities | (1,372,283) | (565,911) | ||
Other current liabilities | (3,491,829) | (3,706,193) | ||
Preferred shareholders payable in subsidiaries | (387,044) | |||
Lease | (3,267,682) | (3,001,847) | ||
Other non-current liabilities | (10,298,514) | (9,571,662) | ||
Total assets (net of liabilities) allocated by segment | 28,870,022 | 20,818,867 | 16,240,481 | 17,969,356 |
Shareholders' equity attributable to: | ||||
Owners of the Company | 14,740,937 | 5,260,083 | ||
Non-controlling interests | 14,129,085 | 15,558,784 | ||
Total shareholders' equity | 28,870,022 | 20,818,867 | R$ 16240481 | R$ 17969356 |
Operating segments [member] | ||||
Statement of financial position: | ||||
Preferred shareholders payable in subsidiaries | ||||
Operating segments [member] | Gas and Power [member] | ||||
Statement of financial position: | ||||
Total assets | 19,982,611 | 15,027,675 | ||
Cash and cash equivalents | 3,562,358 | 1,899,533 | ||
Marketable securities | 1,876,006 | 1,188,625 | ||
Trade receivables | 1,427,720 | 1,121,612 | ||
Derivative financial instruments | 358,456 | 517,181 | ||
Inventories | 129,554 | 121,064 | ||
Sector financial assets | 558,310 | 241,749 | ||
Other financial assets | ||||
Other current assets | 340,909 | 276,139 | ||
Other non-current assets | 1,370,964 | 169,905 | ||
Investments in associates | ||||
Investments in joint ventures | ||||
Biological assets | ||||
Investment property | ||||
Contract asset | 684,970 | 686,690 | ||
Right-of-use assets | 73,220 | 19,865 | ||
Property, plant and equipment | 271,490 | 15,326 | ||
Intangible assets and goodwill | 9,328,654 | 8,769,986 | ||
Liabilities | (13,609,495) | (11,681,752) | ||
Loans, borrowings and debentures | (7,667,987) | (7,043,909) | ||
Derivative financial instruments | (357,932) | (286,018) | ||
Trade payables | (1,798,977) | (1,182,111) | ||
Employee benefits payables | (104,404) | (74,543) | ||
Sector financial liabilities | (1,372,283) | (565,911) | ||
Other current liabilities | (472,592) | (662,779) | ||
Preferred shareholders payable in subsidiaries | ||||
Lease | (63,752) | (10,320) | ||
Other non-current liabilities | (1,771,568) | (1,856,161) | ||
Total assets (net of liabilities) allocated by segment | 6,373,116 | 3,345,923 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 5,585,768 | 3,288,315 | ||
Non-controlling interests | 787,348 | 57,608 | ||
Total shareholders' equity | 6,373,116 | 3,345,923 | ||
Operating segments [member] | Moove [member] | ||||
Statement of financial position: | ||||
Total assets | 4,850,344 | 4,439,453 | ||
Cash and cash equivalents | 1,059,866 | 936,345 | ||
Marketable securities | 129,390 | 168,066 | ||
Trade receivables | 605,928 | 483,227 | ||
Derivative financial instruments | 26,513 | 28,463 | ||
Inventories | 790,825 | 564,836 | ||
Sector financial assets | ||||
Other financial assets | 466 | 69,126 | ||
Other current assets | 298,004 | 146,166 | ||
Other non-current assets | 246,934 | 398,796 | ||
Investments in associates | ||||
Investments in joint ventures | ||||
Biological assets | ||||
Investment property | ||||
Contract asset | 21,011 | 9,248 | ||
Right-of-use assets | 51,458 | 39,550 | ||
Property, plant and equipment | 334,065 | 327,535 | ||
Intangible assets and goodwill | 1,285,884 | 1,268,095 | ||
Liabilities | (2,564,187) | (2,473,884) | ||
Loans, borrowings and debentures | (831,148) | (802,938) | ||
Derivative financial instruments | (348) | |||
Trade payables | (828,690) | (688,139) | ||
Employee benefits payables | (132,158) | (96,192) | ||
Sector financial liabilities | ||||
Other current liabilities | (349,967) | (290,827) | ||
Preferred shareholders payable in subsidiaries | ||||
Lease | (53,436) | (41,299) | ||
Other non-current liabilities | (368,788) | (554,141) | ||
Total assets (net of liabilities) allocated by segment | 2,286,157 | 1,965,569 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 1,599,949 | 1,367,157 | ||
Non-controlling interests | 686,208 | 598,412 | ||
Total shareholders' equity | 2,286,157 | 1,965,569 | ||
Operating segments [member] | Logistics [member] | ||||
Statement of financial position: | ||||
Total assets | 48,174,556 | 45,912,604 | ||
Cash and cash equivalents | 9,448,193 | 7,778,612 | ||
Marketable securities | 1,425,897 | 1,396,723 | ||
Trade receivables | 503,316 | 428,492 | ||
Derivative financial instruments | 1,674,821 | 3,988,524 | ||
Inventories | 228,923 | 249,318 | ||
Sector financial assets | ||||
Other financial assets | ||||
Other current assets | 747,308 | 685,659 | ||
Other non-current assets | 3,197,105 | 2,613,480 | ||
Investments in associates | 57,844 | 50,715 | ||
Investments in joint ventures | ||||
Biological assets | ||||
Investment property | ||||
Contract asset | 1 | |||
Right-of-use assets | 7,784,941 | 7,823,401 | ||
Property, plant and equipment | 15,974,562 | 13,646,248 | ||
Intangible assets and goodwill | 7,131,645 | 7,251,432 | ||
Liabilities | (33,156,493) | (32,359,866) | ||
Loans, borrowings and debentures | (21,178,748) | (21,656,908) | ||
Derivative financial instruments | (576,749) | |||
Trade payables | (618,658) | (754,546) | ||
Employee benefits payables | (255,963) | (139,058) | ||
Sector financial liabilities | ||||
Other current liabilities | (1,384,611) | (950,582) | ||
Preferred shareholders payable in subsidiaries | ||||
Lease | (3,106,883) | (2,912,317) | ||
Other non-current liabilities | (6,034,881) | (5,946,455) | ||
Total assets (net of liabilities) allocated by segment | 15,018,063 | 13,552,738 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 4,479,944 | 2,150,052 | ||
Non-controlling interests | 10,538,119 | 11,402,686 | ||
Total shareholders' equity | 15,018,063 | 13,552,738 | ||
Operating segments [member] | Cosan Investiments | ||||
Statement of financial position: | ||||
Total assets | 4,484,805 | |||
Cash and cash equivalents | 7,468 | |||
Marketable securities | 46,094 | |||
Trade receivables | 207,761 | |||
Derivative financial instruments | ||||
Inventories | ||||
Sector financial assets | ||||
Other financial assets | 319,728 | |||
Other current assets | 13,470 | |||
Other non-current assets | 354 | |||
Investments in associates | ||||
Investments in joint ventures | ||||
Biological assets | ||||
Investment property | 3,886,696 | |||
Contract asset | ||||
Right-of-use assets | 3,203 | |||
Property, plant and equipment | 31 | |||
Intangible assets and goodwill | ||||
Liabilities | (246,599) | |||
Loans, borrowings and debentures | ||||
Derivative financial instruments | ||||
Trade payables | (1,006) | |||
Employee benefits payables | ||||
Sector financial liabilities | ||||
Other current liabilities | (48,739) | |||
Lease | (3,253) | |||
Other non-current liabilities | (193,601) | |||
Total assets (net of liabilities) allocated by segment | 4,238,206 | |||
Shareholders' equity attributable to: | ||||
Owners of the Company | 2,119,104 | |||
Non-controlling interests | 2,119,102 | |||
Total shareholders' equity | 4,238,206 | |||
Operating segments [member] | Raízen | ||||
Statement of financial position: | ||||
Total assets | 110,136,182 | 67,942,010 | ||
Cash and cash equivalents | 5,034,788 | 3,422,828 | ||
Marketable securities | 154,052 | 19,086 | ||
Trade receivables | 7,618,176 | 4,265,294 | ||
Derivative financial instruments | 11,805,548 | 6,064,604 | ||
Inventories | 14,297,068 | 8,317,566 | ||
Sector financial assets | ||||
Other financial assets | 261,412 | 160,600 | ||
Other current assets | 12,545,650 | 5,761,106 | ||
Other non-current assets | 8,562,180 | 5,225,978 | ||
Investments in associates | ||||
Investments in joint ventures | 1,317,720 | 1,305,790 | ||
Biological assets | 3,106,744 | 1,073,582 | ||
Investment property | ||||
Contract asset | 2,941,390 | 2,860,658 | ||
Right-of-use assets | 10,758,442 | 5,210,366 | ||
Property, plant and equipment | 22,506,160 | 18,165,518 | ||
Intangible assets and goodwill | 9,226,852 | 6,089,034 | ||
Liabilities | (84,736,772) | (51,528,998) | ||
Loans, borrowings and debentures | (26,967,092) | (24,557,518) | ||
Derivative financial instruments | (12,377,276) | (3,088,300) | ||
Trade payables | (15,678,442) | (9,311,282) | ||
Employee benefits payables | (788,948) | (534,376) | ||
Sector financial liabilities | ||||
Other current liabilities | (9,591,918) | (4,094,274) | ||
Lease | (10,685,524) | (4,734,766) | ||
Other non-current liabilities | (8,647,572) | (5,208,482) | ||
Total assets (net of liabilities) allocated by segment | 25,399,410 | 16,413,012 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 23,870,251 | 16,129,497 | ||
Non-controlling interests | 1,529,159 | 283,515 | ||
Total shareholders' equity | 25,399,410 | 16,413,012 | ||
Unallocated amounts [member] | Cosan Corporate [member] | ||||
Statement of financial position: | ||||
Total assets | 35,054,649 | 33,324,494 | ||
Cash and cash equivalents | 2,096,245 | 3,028,428 | ||
Marketable securities | 910,620 | 915,695 | ||
Trade receivables | 1,128 | 110 | ||
Derivative financial instruments | 2,673,136 | 3,606,532 | ||
Inventories | 2 | 46 | ||
Sector financial assets | ||||
Other financial assets | (1) | |||
Other current assets | 1,599,793 | 1,938,096 | ||
Other non-current assets | 2,180,558 | 1,566,428 | ||
Investments in associates | 14,518,340 | 14,149,214 | ||
Investments in joint ventures | 10,936,663 | 7,988,208 | ||
Biological assets | ||||
Investment property | ||||
Contract asset | ||||
Right-of-use assets | 34,445 | 33,414 | ||
Property, plant and equipment | 68,405 | 79,397 | ||
Intangible assets and goodwill | 35,315 | 18,926 | ||
Liabilities | (20,305,063) | (17,553,779) | ||
Loans, borrowings and debentures | (15,981,154) | (12,745,705) | ||
Derivative financial instruments | (141,480) | (159,695) | ||
Trade payables | (6,173) | (5,258) | ||
Employee benefits payables | (60,466) | (26,673) | ||
Sector financial liabilities | ||||
Other current liabilities | (1,384,091) | (2,006,371) | ||
Preferred shareholders payable in subsidiaries | (387,044) | |||
Lease | (40,358) | (37,911) | ||
Other non-current liabilities | (2,691,341) | (2,185,122) | ||
Total assets (net of liabilities) allocated by segment | 14,749,587 | 15,770,715 | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | 14,751,279 | 12,270,637 | ||
Non-controlling interests | (1,692) | 3,500,078 | ||
Total shareholders' equity | 14,749,587 | 15,770,715 | ||
Deconsolidated effects [member] | ||||
Statement of financial position: | ||||
Total assets | (110,136,182) | (67,942,010) | ||
Cash and cash equivalents | (5,034,788) | (3,422,828) | ||
Marketable securities | (154,052) | (19,086) | ||
Trade receivables | (7,618,176) | (4,265,294) | ||
Derivative financial instruments | (11,805,548) | (6,064,604) | ||
Inventories | (14,297,068) | (8,317,566) | ||
Sector financial assets | ||||
Other financial assets | (261,412) | (160,600) | ||
Other current assets | (12,545,650) | (5,761,106) | ||
Other non-current assets | (8,562,180) | (5,225,978) | ||
Investments in associates | ||||
Investments in joint ventures | (1,317,720) | (1,305,790) | ||
Biological assets | (3,106,744) | (1,073,582) | ||
Investment property | ||||
Contract asset | (2,941,390) | (2,860,658) | ||
Right-of-use assets | (10,758,442) | (5,210,366) | ||
Property, plant and equipment | (22,506,160) | (18,165,518) | ||
Intangible assets and goodwill | (9,226,852) | (6,089,034) | ||
Liabilities | 84,736,772 | 51,528,998 | ||
Loans, borrowings and debentures | 26,967,092 | 24,557,518 | ||
Derivative financial instruments | 12,377,276 | 3,088,300 | ||
Trade payables | 15,678,442 | 9,311,282 | ||
Employee benefits payables | 788,948 | 534,376 | ||
Sector financial liabilities | ||||
Other current liabilities | 9,591,918 | 4,094,274 | ||
Preferred shareholders payable in subsidiaries | ||||
Lease | 10,685,524 | 4,734,766 | ||
Other non-current liabilities | 8,647,572 | 5,208,482 | ||
Total assets (net of liabilities) allocated by segment | (25,399,410) | (16,413,012) | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | (23,870,251) | (16,129,497) | ||
Non-controlling interests | (1,529,159) | (283,515) | ||
Total shareholders' equity | (25,399,410) | (16,413,012) | ||
Elimination of intersegment amounts [member] | ||||
Statement of financial position: | ||||
Total assets | (14,704,942) | (14,990,661) | ||
Cash and cash equivalents | ||||
Marketable securities | ||||
Trade receivables | ||||
Derivative financial instruments | ||||
Inventories | ||||
Sector financial assets | ||||
Other financial assets | ||||
Other current assets | (668,152) | (764,392) | ||
Other non-current assets | (240,673) | (410,191) | ||
Investments in associates | (13,796,117) | (13,816,078) | ||
Investments in joint ventures | ||||
Biological assets | ||||
Investment property | ||||
Contract asset | ||||
Right-of-use assets | ||||
Property, plant and equipment | ||||
Intangible assets and goodwill | ||||
Liabilities | 909,836 | 1,174,583 | ||
Loans, borrowings and debentures | ||||
Derivative financial instruments | ||||
Trade payables | ||||
Employee benefits payables | ||||
Sector financial liabilities | ||||
Other current liabilities | 148,171 | 204,366 | ||
Preferred shareholders payable in subsidiaries | ||||
Lease | ||||
Other non-current liabilities | 761,665 | 970,217 | ||
Total assets (net of liabilities) allocated by segment | (13,795,107) | (13,816,078) | ||
Shareholders' equity attributable to: | ||||
Owners of the Company | (13,795,107) | (13,816,078) | ||
Non-controlling interests | ||||
Total shareholders' equity | R$ 13795107 | R$ 13816078 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of operating segments [line items] | |||
Revenue | R$ 25865001 | R$ 20437835 | R$ 20611409 |
Operating segments [member] | Raízen | |||
Disclosure of operating segments [line items] | |||
Revenue | 175,047,270 | 118,049,722 | 129,349,463 |
Operating segments [member] | Raízen | Ethanol [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 27,464,271 | 19,625,060 | 20,286,705 |
Operating segments [member] | Raízen | Sugar [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 13,946,480 | 10,241,141 | 3,925,499 |
Operating segments [member] | Raízen | Gasoline [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 55,158,035 | 36,127,017 | 46,140,529 |
Operating segments [member] | Raízen | Cogeneration [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 3,968,947 | 2,282,158 | 3,934,639 |
Operating segments [member] | Raízen | Other [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,288,547 | 2,807,127 | 3,540,068 |
Operating segments [member] | Raízen | Diesel [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 71,828,092 | 46,967,219 | 51,522,023 |
Operating segments [member] | Gas and Power [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 12,330,209 | 9,093,170 | 9,514,222 |
Operating segments [member] | Gas and Power [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 11,709,714 | 8,317,691 | 9,514,222 |
Operating segments [member] | Gas and Power [member] | Electricity distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 620,495 | 775,479 | |
Operating segments [member] | Gas and Power [member] | Cogeneration [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 637,489 | 389,732 | 437,327 |
Operating segments [member] | Gas and Power [member] | Other [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 242,226 | 59,104 | 64,660 |
Operating segments [member] | Gas and Power [member] | Industrial [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,386,258 | 5,030,738 | 6,045,600 |
Operating segments [member] | Gas and Power [member] | Residential [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,610,286 | 1,381,597 | 1,295,107 |
Operating segments [member] | Gas and Power [member] | Automotive [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 364,664 | 220,130 | 350,637 |
Operating segments [member] | Gas and Power [member] | Construction revenue [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,020,176 | 885,630 | 813,341 |
Operating segments [member] | Gas and Power [member] | Commercial [member] | Gas distribution [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 448,615 | 350,760 | 507,550 |
Operating segments [member] | Moove [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 6,112,457 | 4,415,575 | 4,046,296 |
Operating segments [member] | Moove [member] | Finished goods [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 5,088,102 | 3,891,551 | 3,786,636 |
Operating segments [member] | Moove [member] | Basic oil [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 457,991 | 392,153 | 194,353 |
Operating segments [member] | Moove [member] | Services [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 566,364 | 131,871 | 65,307 |
Operating segments [member] | Logistics [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,439,632 | 6,966,159 | 7,087,840 |
Operating segments [member] | Logistics [member] | North Operation [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 5,479,583 | 5,270,436 | 5,313,757 |
Operating segments [member] | Logistics [member] | South Operation [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,624,084 | 1,409,872 | 1,478,314 |
Operating segments [member] | Logistics [member] | Container Operations [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 335,965 | 285,851 | 295,769 |
Operating segments [member] | Cosan Investiments | |||
Disclosure of operating segments [line items] | |||
Revenue | 31,502 | ||
Operating segments [member] | Cosan Investiments | Land Leases [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 31,502 | ||
Unallocated amounts [member] | Cosan Corporate [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 8,292 | 818 | 98 |
Deconsolidated effects and eliminations [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | (175,104,361) | (118,087,609) | (129,386,510) |
Elimination of intersegment amounts [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | (57,091) | (37,887) | (37,047) |
Elimination of intersegment amounts [member] | Raízen | |||
Disclosure of operating segments [line items] | |||
Revenue | R$ 4607102 |
Segment Information - Summary_4
Segment Information - Summary of Information on Geographical Area (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of geographical areas [line items] | |||
Net sales | R$ 25865001 | R$ 20437835 | R$ 20611409 |
Non-current assets | 12,568,096 | 12,613,461 | |
Brazil [member] | |||
Disclosure of geographical areas [line items] | |||
Net sales | 22,529,634 | 18,100,012 | 18,522,108 |
Non-current assets | 12,551,261 | 12,577,376 | |
Europe [member] | |||
Disclosure of geographical areas [line items] | |||
Net sales | 2,551,739 | 1,867,284 | 1,719,262 |
Non-current assets | 10,515 | 11,401 | |
Latin America [member] | |||
Disclosure of geographical areas [line items] | |||
Net sales | 632,235 | 360,798 | 184,981 |
Non-current assets | 6,320 | 24,684 | |
North America [member] | |||
Disclosure of geographical areas [line items] | |||
Net sales | 81,384 | 62,760 | 157,665 |
Non-current assets | |||
Asia and Other [member] | |||
Disclosure of geographical areas [line items] | |||
Net sales | 70,009 | 46,981 | R$ 27393 |
Non-current assets |
Segment Information - Additiona
Segment Information - Additional Information (Detail) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021BRL (R$)Item | Dec. 31, 2020BRL (R$) | Dec. 31, 2019BRL (R$) | |
Disclosure of operating segments [line items] | |||
Revenue from Major Customer | R$ 25865001 | R$ 20437835 | R$ 20611409 |
Rumo S.A. [member] | Major Customers [member] | |||
Disclosure of operating segments [line items] | |||
Number of largest customers | Item | 6 | ||
Revenue from Major Customer | R$ 2916247 | R$ 2939945 | R$ 773286 |
Financial assets and liabilit_3
Financial assets and liabilities - Summary of Carrying Amount of Financial Assets (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||
Financial assets | R$ 29914865 | R$ 28842050 |
Fair value through profit or loss [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,544,839 | 14,034,381 |
Fair value through profit or loss [member] | Cash and cash equivalents [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8,103,713 | 2,155,446 |
Fair value through profit or loss [member] | Marketable securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,388,007 | 3,669,109 |
Fair value through profit or loss [member] | Other financial assets [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 320,193 | 69,126 |
Fair value through profit or loss [member] | Derivate financial instruments [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,732,926 | 8,140,700 |
Amortized cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 12,370,026 | 14,807,669 |
Amortized cost | Cash and cash equivalents [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8,070,417 | 11,487,472 |
Amortized cost | Trade receivables [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,745,853 | 2,033,441 |
Amortized cost | Restricted cash [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 58,990 | 34,562 |
Amortized cost | Receivables from related parties [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 416,491 | 929,690 |
Amortized cost | Sector financial assets [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 558,310 | 241,749 |
Amortized cost | Dividend receivable [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | R$ 519965 | R$ 80755 |
Financial assets and liabilit_4
Financial assets and liabilities - Summary of Carrying Amount of Financial Liabilities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | R$ 59932201 | R$ 53176950 |
Amortized cost | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (38,641,440) | (33,875,309) |
Amortized cost | Loans, borrowings and debentures [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (25,444,437) | (23,393,880) |
Amortized cost | Leases [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (3,267,678) | (3,001,847) |
Amortized cost | Trade payables [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (3,253,504) | (2,630,054) |
Amortized cost | Consideration payable [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (234,960) | (224,787) |
Amortized cost | Other financial liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (726,423) | (594,188) |
Amortized cost | Payables to related parties [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (287,609) | (307,080) |
Amortized cost | Railroad concession payable [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (3,054,248) | (1,154,919) |
Amortized cost | Preferred shareholders payable in subsidiaries [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (387,044) | |
Amortized cost | Dividends payable [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (799,634) | (1,413,222) |
Amortized cost | Sector financial liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (1,372,283) | (565,911) |
Amortized cost | Tax installments - REFIS [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (200,664) | (202,377) |
Fair value through profit or loss [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (21,290,761) | (19,301,641) |
Fair value through profit or loss [member] | Loans, borrowings and debentures [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (20,214,600) | (18,855,580) |
Fair value through profit or loss [member] | Derivate financial instruments [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | R$ 1076161 | R$ 446061 |
Financial Assets and Liabilit_5
Financial Assets and Liabilities - Summary of Cash and Cash Equivalents (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Financial assets and liabilities | ||||
Cash and bank accounts | R$ 98116 | R$ 4134074 | ||
Savings account | 2,594,723 | 986,379 | ||
Financial investments | 13,481,291 | 8,522,465 | ||
Cash and cash equivalents | R$ 16174130 | R$ 13642918 | R$ 8472274 | R$ 3621798 |
Financial Assets and Liabilit_6
Financial Assets and Liabilities - Summary of Financial Investments (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Cash and cash equivalents1 [line items] | ||
Financial investments | R$ 13481291 | R$ 8522465 |
Investment fund [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 8,103,713 | 2,155,446 |
Investment fund [member] | Repurchase agreements [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 1,680,328 | 1,672,688 |
Investment fund [member] | Bank certificate of deposits [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 6,423,385 | 475,213 |
Investment fund [member] | Other [Member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 7,545 | |
Bank investments [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 5,377,578 | 6,367,019 |
Bank investments [member] | Repurchase agreements [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 974,494 | 1,293,833 |
Bank investments [member] | Bank certificate of deposits [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 2,321,614 | 5,015,244 |
Bank investments [member] | Other [Member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | R$ 2081470 | R$ 57942 |
Financial Assets and Liabilit_7
Financial Assets and Liabilities - Additional information (Detail) R$ in Thousands | Oct. 06, 2021 | Dec. 31, 2021BRL (R$)Item | Dec. 31, 2020BRL (R$) |
Disclosure of Financial Resources [line items] | |||
Number of criteria for classification of financial instruments | Item | 2 | ||
Penalties for early redemption of repurchase agreements | R$ 0 | ||
Explanation of details of guarantees given or received of outstanding balances for related party transaction | There were no guarantees given or received on any accounts receivable or payable involving related parties. | ||
Banco Itaú and Banco Bradesco | |||
Disclosure of Financial Resources [line items] | |||
Average rate | 10.60% | 3.00% | |
Average payment term to suppliers | 90 days | ||
Top of range [member] | |||
Disclosure of Financial Resources [line items] | |||
Maturity period of short-term investments classified as cash and cash equivalents | 3 months | ||
Period of fixed term of repurchase agreements | 90 days | ||
Maturity period of bank deposit certificates classified as cash and cash equivalents | 90 days | ||
Maturity period of government bonds, marketable securities and restricted cash | 5 years | ||
ESG Funds | |||
Disclosure of Financial Resources [line items] | |||
Investment maturity term | 5 years | ||
SELIC [member] | Government security [member] | |||
Disclosure of Financial Resources [line items] | |||
Interest, Index | 100% of the CDI | ||
Bank investments [member] | Other [Member] | |||
Disclosure of Financial Resources [line items] | |||
Weighted remuneration (in bps) | 49 | ||
Weighted remuneration (as a percent) | 0.47% | ||
Inter Bank Deposit Certificate [member] | |||
Disclosure of Financial Resources [line items] | |||
Onshore financial investments remunerated rate | 100.00% | 97.00% | |
Fed Funds [member] | |||
Disclosure of Financial Resources [line items] | |||
Offshore financial investments remunerated rate | 100.00% | ||
Rumo S A [member] | |||
Disclosure of Financial Resources [line items] | |||
Advance by suppliers with financial institutions | R$ 576786 | R$ 413470 | |
Rumo S A [member] | BNDES [member] | |||
Disclosure of Financial Resources [line items] | |||
Unused line of credit | 898,023 | 487,378 | |
Comgas [member] | BNDES [member] | |||
Disclosure of Financial Resources [line items] | |||
Unused line of credit | 2,500,000 | ||
Cosan S.A. [member] | Three Brazilian Financial Institutions [member] | |||
Disclosure of Financial Resources [line items] | |||
Unused line of credit | R$ 250000 | R$ 250000 |
Financial Assets and Liabilit_8
Financial Assets and Liabilities - Summary of Marketable Securities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of Marketable Securities [line items] | ||
Marketable securities | R$ 4388007 | R$ 3669109 |
Government security [member] | ||
Disclosure of Marketable Securities [line items] | ||
Marketable securities | 4,371,645 | 3,543,886 |
CDB [member] | ||
Disclosure of Marketable Securities [line items] | ||
Marketable securities | 1,051 | 116,963 |
ESG funds | ||
Disclosure of Marketable Securities [line items] | ||
Marketable securities | 15,311 | |
Repurchase agreements [Member] | ||
Disclosure of Marketable Securities [line items] | ||
Marketable securities | R$ 8260 |
Financial Assets and Liabilit_9
Financial Assets and Liabilities - Summary of Restricted Cash (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of Restricted Cash and Cash Equivalents [line items] | ||
Restricted cash | R$ 58990 | R$ 34562 |
Securities pledged as collateral [member] | ||
Disclosure of Restricted Cash and Cash Equivalents [line items] | ||
Restricted cash | R$ 58990 | R$ 34562 |
Financial Assets and Liabili_10
Financial Assets and Liabilities - Summary of Trade Receivables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of Trade Receivables [line items] | ||
Trade receivables | R$ 2745853 | R$ 2033441 |
Current | 2,580,776 | 2,007,140 |
Non-current | 165,077 | 26,301 |
Cost [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | 2,860,905 | 2,169,465 |
Expected credit losses [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | (115,052) | (136,024) |
Unbilled receivables | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | 975,588 | 667,793 |
Domestic - Brazilian Reais [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | 1,810,867 | 1,432,805 |
Export - Foreign currency [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | R$ 74450 | R$ 68867 |
Financial Assets and Liabili_11
Financial Assets and Liabilities - Summary of Ageing of Trade Receivables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of Trade Receivables [line items] | ||
Trade receivables | R$ 2745853 | R$ 2033441 |
Expected credit losses [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | (115,052) | (136,024) |
Not overdue [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | 2,484,633 | 1,814,202 |
Overdue From 1 to 30 days [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | 206,244 | 166,467 |
Overdue From 31 to 60 days [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | 21,130 | 23,169 |
Overdue From 61 to 90 days [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | 22,351 | 14,156 |
More than 90 days [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | R$ 126547 | R$ 151471 |
Financial Assets and Liabili_12
Financial Assets and Liabilities - Summary of Changes in Expected Credit Losses (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Trade Receivables [abstract] | ||
Beginning balance | R$ 136024 | R$ 120407 |
Provision / reversal | (10,762) | (39,187) |
Foreign exchange | (340) | |
Write-off | 32,074 | 23,570 |
Ending balance | R$ 115052 | R$ 136024 |
Financial Assets and Liabili_13
Financial Assets and Liabilities - Summary of balance of other financial assets (Detail) - BRL (R$) R$ in Thousands | Apr. 15, 2021 | Mar. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | |||||
Current | R$ 466 | R$ 69126 | |||
Non-current | 319,727 | ||||
Other financial assets | 320,193 | 69,126 | |||
Receipt of consideration asset | R$ 69155 | R$ 65478 | R$ 69155 | 65,478 | R$ 1192 |
Tellus and Janus shares [member] | |||||
Disclosure of financial assets [line items] | |||||
Percentage of preferred shares in the entity held by the entity or by its subsidiaries or associates | 5.00% | ||||
Percentage of proposed dividend Company and the other shareholders are entitled to receive | 90.00% | ||||
Fair value through profit or loss [member] | |||||
Disclosure of financial assets [line items] | |||||
Current | R$ 466 | 69,126 | |||
Non-current | 319,727 | ||||
Other financial assets | 320,193 | 69,126 | |||
Fair value through profit or loss [member] | Tellus and Janus shares [member] | |||||
Disclosure of financial assets [line items] | |||||
Other financial assets | 319,727 | ||||
Fair value through profit or loss [member] | Other financial assets [member] | |||||
Disclosure of financial assets [line items] | |||||
Other financial assets | R$ 466 | R$ 69126 |
Financial Assets and Liabili_14
Financial Assets and Liabilities - Summary of Receivables from and Payables to Related Parties (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | R$ 98280 | R$ 680049 | ||
Receivables from related parties, non-current | 318,211 | 249,641 | ||
Total assets | 416,491 | 929,690 | ||
Payables to related parties | 287,609 | 307,080 | ||
Current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | 92,280 | 680,049 | ||
Non-current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, non-current | 318,211 | 249,641 | ||
Corporate operation agreements [member] | ||||
Disclosure of receivables and payables [line items] | ||||
Payables to related parties | 227,738 | 302,246 | ||
Corporate operation agreements [member] | Current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | 71,802 | 103,092 | ||
Corporate operation agreements [member] | Non-current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, non-current | 112,018 | 94,466 | ||
Corporate operation agreements [member] | Raizen Energia S.A. [member] | ||||
Disclosure of receivables and payables [line items] | ||||
Payables to related parties | [1] | 50,289 | 146,722 | |
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] | 38,710 | 73,913 | |
Corporate operation agreements [member] | Termag Terminal Maritimo De Guaruja SA [Member] | Current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | 14,286 | |||
Corporate operation agreements [member] | Termag Terminal Maritimo De Guaruja SA [Member] | Non-current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, non-current | 64,286 | |||
Corporate operation agreements [member] | Aguassanta Participacoes S.A. [member] | Current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | 2,956 | 837 | ||
Corporate operation agreements [member] | Raizen [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Payables to related parties | [1] | 171,084 | 154,366 | |
Corporate operation agreements [member] | Raizen [Member] | Current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | [1] | 15,489 | 11,171 | |
Corporate operation agreements [member] | Raizen [Member] | Non-current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, non-current | [1] | 47,732 | 45,895 | |
Corporate operation agreements [member] | Other [member] | ||||
Disclosure of receivables and payables [line items] | ||||
Payables to related parties | 6,365 | 1,158 | ||
Corporate operation agreements [member] | Other [member] | Current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | 361 | 17,171 | ||
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 | |||
Preferred shares [member] | Non-current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, non-current | 206,193 | 155,175 | ||
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] | 205,958 | 155,175 | |
Preferred shares [member] | Other [member] | Non-current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, non-current | 235 | |||
Financial operations [member] | ||||
Disclosure of receivables and payables [line items] | ||||
Payables to related parties | 59,871 | 4,834 | ||
Financial operations [member] | Current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | 26,478 | 576,957 | ||
Financial operations [member] | Raizen Energia S.A. [member] | ||||
Disclosure of receivables and payables [line items] | ||||
Payables to related parties | [1] | 47,912 | 4,834 | |
Financial operations [member] | Raizen Energia S.A. [member] | Current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | 8,933 | [1] | ||
Financial operations [member] | Aguassanta Participacoes S.A. [member] | Current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | [2] | 576,957 | ||
Financial operations [member] | Raizen [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Payables to related parties | [1] | 11,959 | ||
Financial operations [member] | Raizen [Member] | Current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | 45 | [1] | ||
Financial operations [member] | Rio Minas Mineração S.A. [member] | Current Asset [Member] | ||||
Disclosure of receivables and payables [line items] | ||||
Receivables from related parties, current | R$ 17500 | |||
[1] | Current and non-current assets receivable from and S.A. are, primarily, tax credits which will be reimbursed to the Company when realized. The preferred shares are used to reimburse , with preferential dividends, when the net operating loss is consumed in . Current liabilities represent reimburse to and related to expenses regarding legal disputes and other liabilities, generated before the formation of joint ventures, which are responsibility of S.A. | |||
[2] | On December 11, 2020, the Company disposed of 13,021,744 shares that were held in treasury to S.A. (“ ”) paid on January 8, 2021. |
Financial Assets and Liabili_15
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_16
Financial Assets and Liabilities - Summary of Related Party Transactions (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of receivables and payables [line items] | |||
Shared expense | R$ 73831 | R$ 81018 | R$ 71978 |
Total | (965,464) | (536,552) | (786,727) |
Other [member] | |||
Disclosure of receivables and payables [line items] | |||
Revenue | 679,500 | 675,704 | 527,359 |
Financial Result [Member] | |||
Disclosure of receivables and payables [line items] | |||
Finance result | 4,937 | 6,392 | 5,683 |
Raizen International Universal Corporation | |||
Disclosure of receivables and payables [line items] | |||
Revenue | 5,143 | ||
Raizen Energia S.A. [member] | |||
Disclosure of receivables and payables [line items] | |||
Revenue | 469,053 | 483,934 | 298,980 |
Purchase of goods / inputs / services | (32,153) | (6,160) | (7,010) |
Shared expense | (73,831) | (81,018) | (71,978) |
Finance result | 139 | 4 | |
Raizen [Member] | |||
Disclosure of receivables and payables [line items] | |||
Revenue | 210,447 | 186,359 | 221,369 |
Purchase of goods / inputs / services | (1,543,917) | (1,130,531) | (1,240,781) |
Finance result | 4,798 | 6,341 | 5,729 |
Usina Santa Luiza [member] | |||
Disclosure of receivables and payables [line items] | |||
Finance result | (41) | ||
Purchase Of Goods [Member] | |||
Disclosure of receivables and payables [line items] | |||
Purchase of goods / inputs / services | (1,576,070) | (1,137,630) | (1,247,791) |
Other [member] | |||
Disclosure of receivables and payables [line items] | |||
Revenue | 268 | 7,010 | |
Purchase of goods / inputs / services | (939) | ||
Finance result | R$ 47 | R$ 5 |
Financial Assets and Liabili_17
Financial Assets and Liabilities - Summary of Officers' and Directors' Compensation (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of transactions between related parties [abstract] | |||
Short-term benefits to officers and directors | R$ 177405 | R$ 102250 | R$ 88440 |
Share-based payment transactions | 68,209 | 15,441 | 16,823 |
Long-term benefits to officers and directors | 5,863 | ||
Post-employment benefits | 750 | 1,045 | 728 |
Officers' and directors' compensation | R$ 252227 | R$ 118736 | R$ 105991 |
Financial Assets and Liabili_18
Financial Assets and Liabilities - Summary of Loans, Borrowings and Debentures (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of detailed information about borrowings [line items] | ||||
Total | R$ 45659037 | R$ 42249460 | R$ 29052215 | |
Current | 4,241,368 | 4,929,069 | ||
Non-current | R$ 41417669 | 37,320,391 | ||
Weighted average | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Annual interest | 5.32% | |||
CDI | Weighted average | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Annual interest | 9.15% | |||
Secured | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Loans, borrowings and debentures | R$ 7911356 | 5,147,093 | ||
Secured | BNDES | URTJLP | December-2029 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | URTJLP | |||
Annual interest | 7.49% | |||
Maturity | Dec-2029 | |||
Loans, borrowings and debentures | R$ 2598623 | 3,321,839 | ||
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 | 396 | |||
Objective | Investment | |||
Secured | BNDES | Fixed | January-2025 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | Fixed | |||
Annual interest | 5.69% | |||
Maturity | Jan-2025 | |||
Loans, borrowings and debentures | R$ 461756 | 647,435 | ||
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$ 727 | 1,077 | ||
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 | 796 | |||
Objective | Investment | |||
Secured | BNDES | IPCA [member] | January-2048 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | IPCA | |||
Annual interest | 11.08% | |||
Maturity | Jan-2048 | |||
Loans, borrowings and debentures | R$ 646624 | |||
Objective | Investment | |||
Secured | BNDES | IPCA + 3.25% | April-2029 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 3.25</span>%" id="sjs-C60">IPCA + <span style="border-left: none; border-right: none;">3.25</span>% | |||
Annual interest | 13.60% | |||
Maturity | Apr-2029 | |||
Loans, borrowings and debentures | R$ 945663 | 807,438 | ||
Objective | Investment | |||
Secured | BNDES | IPCA + 4.10% | April-2029 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 4.10</span>%" id="sjs-C67">IPCA + <span style="border-left: none; border-right: none;">4.10</span>% | |||
Annual interest | 14.53% | |||
Maturity | Apr-2029 | |||
Loans, borrowings and debentures | R$ 154843 | 175,374 | ||
Objective | Investment | |||
Secured | Export credit agreement | Euribor + 0.58% | September-2026 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 0.58</span>%" id="sjs-C74">Euribor + <span style="border-left: none; border-right: none;">0.58</span>% | |||
Annual interest | 0.58% | |||
Maturity | 2026</span>" id="sjs-C76">Sep-<span style="border-left: none; border-right: none;">2026</span> | |||
Loans, borrowings and debentures | R$ 95460 | 104,108 | ||
Objective | Investment | |||
Secured | Export credit agreement | CDI + 1.03% | February-2023 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 1.03</span>%" id="sjs-C81">CDI + <span style="border-left: none; border-right: none;">1.03</span>% | |||
Annual interest | 10.79% | |||
Maturity | Feb-2023 | |||
Loans, borrowings and debentures | R$ 86707 | |||
Objective | Investment | |||
Secured | Export credit agreement | CDI + 2.25% | May-2026 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 2.25</span>%" id="sjs-C88">CDI + <span style="border-left: none; border-right: none;">2.25</span>% | |||
Annual interest | 12.28% | |||
Maturity | May-2026 | |||
Loans, borrowings and debentures | R$ 60700 | |||
Objective | Investment | |||
Secured | Export credit agreement | CDI + 0.80% | December-2023 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 0.80</span>%" id="sjs-C95">CDI + <span style="border-left: none; border-right: none;">0.80</span>% | |||
Annual interest | 10.02% | |||
Maturity | Dec-2023 | |||
Loans, borrowings and debentures | R$ 515928 | |||
Objective | Investment | |||
Secured | Resolution 4,131 | U.S. Dollar | November-2022 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | U.S.$ | |||
Annual interest | 0.90% | |||
Maturity | Nov-2022 | |||
Loans, borrowings and debentures | R$ 148932 | |||
Objective | Working Capital | |||
Secured | Debentures | CDI + 1.79% | June-2027 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 1.79</span>%" id="sjs-C109">CDI + <span style="border-left: none; border-right: none;">1.79</span>% | |||
Annual interest | 11.10% | |||
Maturity | Jun-2027 | |||
Loans, borrowings and debentures | R$ 753770 | |||
Objective | Investment | |||
Secured | Debentures | CDI + 1.30% | October-2027 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 1.30</span>%" id="sjs-C116">CDI + <span style="border-left: none; border-right: none;">1.30</span>% | |||
Annual interest | 10.57% | |||
Maturity | Oct-2027 | |||
Loans, borrowings and debentures | R$ 746725 | |||
Objective | Investment | |||
Secured | Debentures | IPCA + 4.77% | June-2031 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 4.77</span>%" id="sjs-C123">IPCA + <span style="border-left: none; border-right: none;">4.77</span>% | |||
Annual interest | 15.27% | |||
Maturity | Jun-2031 | |||
Loans, borrowings and debentures | R$ 694898 | |||
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 | Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">0.54</span>%" id="sjs-C130">U.S.$ + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">0.54</span>% | |||
Annual interest | 0.80% | |||
Maturity | May-2021 | |||
Loans, borrowings and debentures | 30,817 | |||
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 | Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">0.61</span>%" id="sjs-C137">U.S.$ + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">0.61</span>% | |||
Annual interest | 0.80% | |||
Maturity | 2021</span>" id="sjs-C139">Sep-<span style="border-left: none; border-right: none;">2021</span> | |||
Loans, borrowings and debentures | 57,813 | |||
Objective | Investment | |||
Unsecured | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Loans, borrowings and debentures | R$ 37747681 | 37,102,367 | ||
Unsecured | Resolution 4,131 | 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 | 483,625 | |||
Objective | Working capital | |||
Unsecured | Resolution 4,131 | 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 | 206,908 | |||
Objective | Working capital | |||
Unsecured | Resolution 4,131 | U.S. Dollar + 3.67% | May-2023 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 3.67</span>%" id="sjs-C161">U.S.$ + <span style="border-left: none; border-right: none;">3.67</span>% | |||
Annual interest | 3.67% | |||
Maturity | May-2023 | |||
Loans, borrowings and debentures | R$ 438823 | 415,232 | ||
Objective | Investment | |||
Unsecured | Resolution 4,131 | U.S. Dollar + 1.59% | April-2021 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 1.59</span>%" id="sjs-C168">U.S.$ + <span style="border-left: none; border-right: none;">1.59</span>% | |||
Annual interest | 1.59% | |||
Maturity | Apr-2021 | |||
Loans, borrowings and debentures | 388,912 | |||
Objective | Investment | |||
Unsecured | Resolution 4,131 | U.S. Dollar + 1.36% | February-2024 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 1.36</span>%" id="sjs-C175">U.S.$ + <span style="border-left: none; border-right: none;">1.36</span>% | |||
Annual interest | 1.36% | |||
Maturity | Feb-2024 | |||
Loans, borrowings and debentures | R$ 414378 | |||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 4.68% | February-2026 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 4.68</span>%" id="sjs-C182">IPCA + <span style="border-left: none; border-right: none;">4.68</span>% | |||
Annual interest | 15.17% | |||
Maturity | Feb-2026 | |||
Loans, borrowings and debentures | R$ 543752 | 595,847 | ||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 4.50% | February-2029 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 4.50</span>%" id="sjs-C189">IPCA + <span style="border-left: none; border-right: none;">4.50</span>% | |||
Annual interest | 14.97% | |||
Maturity | Feb-2029 | |||
Loans, borrowings and debentures | R$ 1483873 | 739,202 | ||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 3.60% | September-2020 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 3.60</span>%" id="sjs-C196">IPCA + <span style="border-left: none; border-right: none;">3.60</span>% | |||
Annual interest | 11.53% | |||
Maturity | 2020</span>" id="sjs-C198">Sep-<span style="border-left: none; border-right: none;">2020</span> | |||
Loans, borrowings and debentures | R$ 361862 | |||
Objective | Investment | |||
Unsecured | Debentures | CDI + 2.65% | August-2025 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 2.65</span>%" id="sjs-C203">CDI + <span style="border-left: none; border-right: none;">2.65</span>% | |||
Annual interest | 12.04% | |||
Maturity | Aug-2025 | |||
Loans, borrowings and debentures | R$ 1858837 | 1,740,551 | ||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 6.80% | April-2030 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 6.80</span>%" id="sjs-C210">IPCA + <span style="border-left: none; border-right: none;">6.80</span>% | |||
Annual interest | 17.50% | |||
Maturity | Apr-2030 | |||
Loans, borrowings and debentures | R$ 891972 | 803,745 | ||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 3.90% | October-2029 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 3.90</span>%" id="sjs-C217">IPCA + <span style="border-left: none; border-right: none;">3.90</span>% | |||
Annual interest | 14.31% | |||
Maturity | Oct-2029 | |||
Loans, borrowings and debentures | R$ 1018844 | 1,025,777 | ||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 5.73% | October 2033 [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 5.73</span>%" id="sjs-C224">IPCA + <span style="border-left: none; border-right: none;">5.73</span>% | |||
Annual interest | 16.33% | |||
Maturity | Oct-2033 | |||
Loans, borrowings and debentures | R$ 505584 | |||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 4.00% | October-2029 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 4.00</span>%" id="sjs-C231">IPCA + <span style="border-left: none; border-right: none;">4.00</span>% | |||
Annual interest | 8.53% | |||
Maturity | Oct-2029 | |||
Loans, borrowings and debentures | 255,501 | |||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 4.00% | December-2035 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 4.00</span>%" id="sjs-C238">IPCA + <span style="border-left: none; border-right: none;">4.00</span>% | |||
Annual interest | 14.42% | |||
Maturity | Dec-2035 | |||
Loans, borrowings and debentures | R$ 952671 | |||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 4.54% | June-2036 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 4.54</span>%" id="sjs-C245">IPCA + <span style="border-left: none; border-right: none;">4.54</span>% | |||
Annual interest | 15.02% | |||
Maturity | Jun-2036 | |||
Loans, borrowings and debentures | R$ 126668 | |||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 7.48% | December-2022 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 7.48</span>%" id="sjs-C252">IPCA + <span style="border-left: none; border-right: none;">7.48</span>% | |||
Annual interest | 18.25% | |||
Maturity | Dec-2022 | |||
Loans, borrowings and debentures | R$ 165478 | 299,524 | ||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 7.36% | December-2025 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 7.36</span>%" id="sjs-C259">IPCA + <span style="border-left: none; border-right: none;">7.36</span>% | |||
Annual interest | 18.12% | |||
Maturity | Dec-2025 | |||
Loans, borrowings and debentures | R$ 108451 | 97,956 | ||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 5.87% | December-2023 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 5.87</span>%" id="sjs-C266">IPCA + <span style="border-left: none; border-right: none;">5.87</span>% | |||
Annual interest | 16.48% | |||
Maturity | Dec-2023 | |||
Loans, borrowings and debentures | R$ 873474 | 890,658 | ||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 4.33% | October-2024 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 4.33</span>%" id="sjs-C273">IPCA + <span style="border-left: none; border-right: none;">4.33</span>% | |||
Annual interest | 14.79% | |||
Maturity | Oct-2024 | |||
Loans, borrowings and debentures | R$ 501278 | 452,457 | ||
Objective | Investment | |||
Unsecured | Debentures | IGPM + 6.10% | May-2028 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 6.10</span>%" id="sjs-C280">IGPM + <span style="border-left: none; border-right: none;">6.10</span>% | |||
Annual interest | 12.11% | |||
Maturity | May-2028 | |||
Loans, borrowings and debentures | R$ 352235 | 298,706 | ||
Objective | Investment | |||
Unsecured | Debentures | CDI + 0.50% | October-2022 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 0.50</span>%" id="sjs-C287">CDI + <span style="border-left: none; border-right: none;">0.50</span>% | |||
Annual interest | 9.70% | |||
Maturity | Oct-2022 | |||
Loans, borrowings and debentures | R$ 2033161 | 2,007,848 | ||
Objective | Investment | |||
Unsecured | Debentures | CDI + 1.95% | August-2024 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 1.95</span>%" id="sjs-C294">CDI + <span style="border-left: none; border-right: none;">1.95</span>% | |||
Annual interest | 11.28% | |||
Maturity | Aug-2024 | |||
Loans, borrowings and debentures | R$ 717651 | |||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 5.12% | August-2031 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 5,12</span>%" id="sjs-C301">IPCA + <span style="border-left: none; border-right: none;">5,12</span>% | |||
Annual interest | 15.66% | |||
Maturity | Aug-2031 | |||
Loans, borrowings and debentures | R$ 484974 | |||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 5.22% | August-2036 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 5,22</span>%" id="sjs-C308">IPCA + <span style="border-left: none; border-right: none;">5,22</span>% | |||
Annual interest | 15.77% | |||
Maturity | Aug-2036 | |||
Loans, borrowings and debentures | R$ 477578 | |||
Objective | Investment | |||
Unsecured | Debentures | IPCA + 5.75% | August-2031 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 5.75</span>%" id="sjs-C315">IPCA + <span style="border-left: none; border-right: none;">5.75</span>% | |||
Annual interest | 16.35% | |||
Maturity | Aug-2031 | |||
Loans, borrowings and debentures | R$ 374761 | |||
Objective | Working capital | |||
Unsecured | Debentures | CDI + 1.65% | August-2028 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 1.65</span>%" id="sjs-C322">CDI + <span style="border-left: none; border-right: none;">1.65</span>% | |||
Annual interest | 7.90% | |||
Maturity | Aug-2028 | |||
Loans, borrowings and debentures | R$ 774215 | |||
Objective | Working capital | |||
Unsecured | Debentures | CDI + 2.00% | August-2031 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 2.00</span>%" id="sjs-C329">CDI + <span style="border-left: none; border-right: none;">2.00</span>% | |||
Annual interest | 11.33% | |||
Maturity | Aug-2031 | |||
Loans, borrowings and debentures | R$ 930301 | |||
Objective | Working capital | |||
Unsecured | Foreign loans | GBP + Libor 6-month + 1.50% | July-2021 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Annual interest | 1.68% | |||
Maturity | Jul-2021 | |||
Loans, borrowings and debentures | 143,039 | |||
Objective | Working capital | |||
Unsecured | Foreign loans | GBP + Libor 6-month + 1.50% | December-2022 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">1.50</span>%" id="sjs-C342">GBP + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">1.50</span>% | |||
Annual interest | 1.92% | |||
Maturity | Dec-2022 | |||
Loans, borrowings and debentures | R$ 263501 | 248,666 | ||
Objective | Acquisition | |||
Unsecured | Foreign loans | GBP | Fixed | December-2023 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | GBP | Fixed | |||
Annual interest | 1.90% | |||
Maturity | Dec-2023 | |||
Loans, borrowings and debentures | R$ 150649 | |||
Objective | Investment | |||
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$ 37674 | 35,556 | ||
Objective | Working capital | |||
Unsecured | Foreign loans | GBP + Libor 6-month + 1.10% | December-2021 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">1.10</span>%" id="sjs-C363">GBP + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">1.10</span>% | |||
Annual interest | 1.17% | |||
Maturity | Dec-2021 | |||
Loans, borrowings and debentures | 142,091 | |||
Objective | Acquisition | |||
Unsecured | Foreign loans | EUR | Fixed | September-2022 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | EUR | Fixed | |||
Annual interest | 4.42% | |||
Maturity | 2022</span>" id="sjs-C372">Sep-<span style="border-left: none; border-right: none;">2022</span> | |||
Loans, borrowings and debentures | R$ 857 | 2,095 | ||
Objective | Investment | |||
Unsecured | Export Credit Note | CDI + 1.03% | February-2023 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 1.03</span>%" id="sjs-C377">CDI + <span style="border-left: none; border-right: none;">1.03</span>% | |||
Annual interest | 3.12% | |||
Maturity | Feb-2023 | |||
Loans, borrowings and debentures | 82,185 | |||
Objective | Investment | |||
Unsecured | Export Credit Note | CDI + 0.80% | December-2023 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 0.80</span>%" id="sjs-C384">CDI + <span style="border-left: none; border-right: none;">0.80</span>% | |||
Annual interest | 2.72% | |||
Maturity | Dec-2023 | |||
Loans, borrowings and debentures | 505,061 | |||
Objective | Investment | |||
Unsecured | Export Credit Note | CDI + 3.05% | March-2021 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 3.05</span>%" id="sjs-C391">CDI + <span style="border-left: none; border-right: none;">3.05</span>% | |||
Annual interest | 5.01% | |||
Maturity | Mar-2021 | |||
Loans, borrowings and debentures | 208,464 | |||
Objective | Investment | |||
Unsecured | Export Credit Note | CDI + 3.15% | March-2021 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 3.15</span>%" id="sjs-C398">CDI + <span style="border-left: none; border-right: none;">3.15</span>% | |||
Annual interest | 5.11% | |||
Maturity | Mar-2021 | |||
Loans, borrowings and debentures | 468,516 | |||
Objective | Investment | |||
Unsecured | Banking credit certificates | IPCA + 0.81% | January-2048 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 0.81</span>%" id="sjs-C405">IPCA + <span style="border-left: none; border-right: none;">0.81</span>% | |||
Annual interest | 5.31% | |||
Maturity | Jan-2048 | |||
Loans, borrowings and debentures | 239,068 | |||
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$ 2825420 | 2,631,100 | ||
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$ 685550 | 569,466 | ||
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 | 4,514,289 | |||
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 | 2024</span>" id="sjs-C435">Sep-<span style="border-left: none; border-right: none;">2024</span> | |||
Loans, borrowings and debentures | 1,232,844 | |||
Objective | Acquisition | |||
Unsecured | Senior notes due 2025 | U.S. Dollar | Fixed | January-2025 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | [1] | U.S.$ | Fixed | ||
Annual interest | [1] | 5.88% | ||
Maturity | [1] | Jan-2025 | ||
Loans, borrowings and debentures | [1] | R$ 2981335 | 3,067,359 | |
Objective | [1] | 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$ 4305928 | 4,379,812 | ||
Objective | Acquisition | |||
Unsecured | Senior notes due 2028 | U.S. Dollar | Fixed | January-2028 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | [2] | U.S.$ | Fixed | ||
Annual interest | [2] | 5.25% | ||
Maturity | [2] | Jan-2028 | ||
Loans, borrowings and debentures | [2] | R$ 2700621 | 2,640,840 | |
Objective | [2] | 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 | 2029</span>" id="sjs-C463">Sep-<span style="border-left: none; border-right: none;">2029</span> | |||
Loans, borrowings and debentures | R$ 4226142 | 3,932,483 | ||
Objective | Acquisition | |||
Unsecured | Senior Notes Due 2032 [Member] | U.S. Dollar | Fixed | January-2032 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | [3] | U.S.$ | Fixed | ||
Annual interest | [3] | 4.20% | ||
Maturity | [3] | Jan-2032 | ||
Loans, borrowings and debentures | [3] | R$ 2800716 | ||
Objective | [3] | Acquisition | ||
Unsecured | Prepayment | July-2023 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 1.27</span>% Base <span style="border-left: none; border-right: none;">360</span>" id="sjs-C475"><span style="border-left: none; border-right: none;">1.27</span>% Base <span style="border-left: none; border-right: none;">360</span> | |||
Annual interest | 1.27% | |||
Maturity | Jul-2023 | |||
Loans, borrowings and debentures | R$ 166355 | |||
Objective | Working capital | |||
Unsecured | Prepayment | Libor 3-month + 3.50% | March-2021 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | Libor</span> <span style="border-left: none; border-right: none;">3</span>-month + <span style="border-left: none; border-right: none;">3.50</span>%" id="sjs-C482"><span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">3</span>-month + <span style="border-left: none; border-right: none;">3.50</span>% | |||
Annual interest | 5.57% | |||
Maturity | Mar-2021 | |||
Loans, borrowings and debentures | 27,129 | |||
Objective | Working capital | |||
Unsecured | Prepayment | Libor 3-month + 1.00% | November-2021 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | Libor</span> <span style="border-left: none; border-right: none;">3</span>-month + <span style="border-left: none; border-right: none;">1.00</span>%" id="sjs-C489"><span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">3</span>-month + <span style="border-left: none; border-right: none;">1.00</span>% | |||
Annual interest | 1.59% | |||
Maturity | Nov-2021 | |||
Loans, borrowings and debentures | R$ 111955 | 104,318 | ||
Objective | Working capital | |||
Unsecured | Bank overdrafts | 125.5% of CDI | January-2020 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 125.5</span>% of CDI" id="sjs-C496"><span style="border-left: none; border-right: none;">125.5</span>% of CDI | |||
Annual interest | 5.53% | |||
Maturity | Jan-2020 | |||
Loans, borrowings and debentures | 4,318 | |||
Objective | Working capital | |||
Unsecured | Working capital | CDI + 2.75% | June-2022 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 2.75</span>%" id="sjs-C503">CDI + <span style="border-left: none; border-right: none;">2.75</span>% | |||
Annual interest | 10.90% | |||
Maturity | Jun-2022 | |||
Loans, borrowings and debentures | R$ 100157 | 100,045 | ||
Objective | Working capital | |||
Unsecured | Promissory Notes | CDI + 3.00% | April-2021 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 3.00</span>%" id="sjs-C510">CDI + <span style="border-left: none; border-right: none;">3.00</span>% | |||
Annual interest | 12.33% | |||
Maturity | Apr-2021 | |||
Loans, borrowings and debentures | 601,058 | |||
Objective | Investment | |||
Unsecured | Promissory Notes | CDI + 3.40% | April-2021 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest, Index | 3.40</span>%" id="sjs-C517">CDI + <span style="border-left: none; border-right: none;">3.40</span>% | |||
Annual interest | 12.73% | |||
Maturity | Apr-2021 | |||
Loans, borrowings and debentures | R$ 520116 | |||
Objective | Investment | |||
[1] | On January 18, 2022, Rumo redeemed its 5.875% senior notes due in 2025, in the amount of U.S.$500,000, equivalent to R$2,780,500 pursuant to the terms of the indenture governing the notes. | |||
[2] | On July 10, 2020, completed an offering of 5.250% senior notes due 2028 in an aggregate principal amount of U.S.$500,000. The proceeds of this offering were used to finance certain green projects including the replacement or locomotives and rolling stock, infrastructure to double lines, new yards and extension of yards, and railway modernization. | |||
[3] | On September 22, 2021, completed an offering of 4.200% sustainability-linked notes due 2032 in an aggregate principal amount of U.S.$500,000. The proceeds of this offering were used for general corporate purposes, including repayment of indebtedness. |
Financial Assets and Liabili_19
Financial Assets and Liabilities - Summary of Loans, Borrowings and Debentures (Parentheticals) (Details) - Rumo S.A. [member] - Unsecured - U.S. Dollar | Fixed R$ in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Jan. 18, 2022BRL (R$) | Jan. 18, 2022USD ($) | Sep. 22, 2021BRL (R$) | Jul. 10, 2020BRL (R$) | |
Senior notes due 2025 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Annual interest | 5.875% | 5.875% | ||||
Aggregate principal amount | R$ 2780500 | $ 500,000 | ||||
Senior notes due 2028 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Annual interest | 5.25% | |||||
Aggregate principal amount | R$ 500000 | |||||
Senior Notes Due 2032 [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Annual interest | 4.20% | |||||
Aggregate principal amount | R$ 500000 | |||||
Rate of greenhouse gas emissions reduction per ton of useful kilometer | 14.34 | |||||
Description of estimated interest rate increase for non-compliance for fulfilment of environment goals | 25</span> basis points" id="sjs-B16"><span style="border-left: none; border-right: none;">25</span> basis points | |||||
Estimated interest rate increase for non-compliance for fulfilment of environment goals | 4.45% | |||||
Senior Notes Due 2032 [Member] | 2026 [member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Target rate of greenhouse gas emissions reduction per ton of useful kilometer | 11.82 |
Financial Assets and Liabili_20
Financial Assets and Liabilities - Summary of Non-current Borrowings (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | R$ 41417669 | R$ 37320391 |
13 to 24 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 4,339,743 | 3,759,874 |
25 to 36 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 2,968,458 | 3,667,857 |
37 to 48 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 4,029,690 | 7,480,137 |
49 to 60 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 984,015 | 4,298,007 |
61 to 72 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 6,902,914 | 640,000 |
73 to 84 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 4,701,952 | 5,427,729 |
85 to 96 months [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | 6,595,854 | 4,023,694 |
Thereafter [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Non-current borrowings | R$ 10895043 | R$ 8023093 |
Financial Assets and Liabili_21
Financial Assets and Liabilities - Summary of Carrying in Loans, Borrowings and Debentures (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | R$ 45659037 | R$ 42249460 | R$ 29052215 |
Brazilian reais (R$) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | 23,304,742 | 17,022,405 | |
U.S. dollar (U.S.$) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | 21,806,154 | 24,551,500 | |
British pound (GBP) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | 451,824 | 569,352 | |
Euro (EUR) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | R$ 96317 | R$ 106203 |
Financial Assets and Liabili_22
Financial Assets and Liabilities - Summary of Changes in Loans, Borrowings and Debentures (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about borrowings [abstract] | |||
Beginning Balance | R$ 42249460 | R$ 29052215 | |
Raised | 12,548,547 | 10,336,257 | |
Repayment of principal | (9,925,067) | (3,397,060) | |
Payment of interest on loans, borrowings and debentures | (2,321,868) | (1,782,976) | R$ 1384184 |
Interest, exchange rate and fair value | 3,107,965 | 8,041,024 | |
Ending balance | R$ 45659037 | R$ 42249460 | R$ 29052215 |
Financial Assets and Liabili_23
Financial Assets and Liabilities - Schedule Required to Comply Financial Covenants (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Debentures 1St Issue [Member] | Cosan SA [member] | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 2.26% |
Debentures 1St Issue [Member] | Cosan Logistica [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt/EBITDA cannot exceed 4.00 |
Resolution 4131 | Comgas [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt/EBITDA cannot exceed 4.00 |
Ratios | 1.59% |
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 | 1.59% |
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 not higher than or equal to 2.0 |
Ratios | 4.91% |
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 | 1.59% |
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 | 0.34% |
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 | 2.11% |
Senior notes due 2029 | 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 | 2.11% |
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 | 2.79% |
Financial Assets and Liabili_24
Financial Assets and Liabilities - Loans, borrowings and debentures - Additional information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about borrowings [line items] | |||
Period of lease term of short-term leases | 12 months | ||
Lease liabilities | R$ 3267678 | R$ 3001847 | R$ 4594888 |
Weighted average | |||
Disclosure of detailed information about borrowings [line items] | |||
Annual interest | 5.32% | ||
Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Lessee’s incremental borrowing rate applied to the lease liabilities | 10.90% | 10.90% | |
Hedged risk position percentage | 60.00% | ||
Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Lessee’s incremental borrowing rate applied to the lease liabilities | 14.20% | 14.20% | |
Hedged risk position percentage | 140.00% | ||
CDI | Weighted average | |||
Disclosure of detailed information about borrowings [line items] | |||
Annual interest | 9.15% | ||
Secured | BNDES | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance of bank guarantees contracted | R$ 3328076 | R$ 3687323 | |
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$ 79020 | R$ 133000 |
Financial Assets and Liabili_25
Financial Assets and Liabilities - Summary of movement of leases (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure Of Movement Of Leases [Line Items] | |||
Beginning balance | R$ 3001847 | R$ 4594888 | |
Business Combination (note 9.3) | 3,281 | ||
Additions | 142,562 | 3,531,470 | |
Interest | 426,313 | 606,529 | |
Transfer between liabilities | [1] | (54,139) | (111,737) |
Payment of principal | (461,040) | (5,424,917) | |
Payment of interest | (165,301) | (500,922) | |
Monetary adjustment | 374,155 | 306,536 | |
Ending balance | 3,267,678 | R$ 3001847 | |
Current | 405,820 | ||
Non-current | R$ 2861858 | ||
[1] | Transfer of railroad concession payable to lease (Note 13). |
Financial Assets and Liabili_26
Financial Assets and Liabilities - Summary of lease expense (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Lease Expense [Abstract] | |||
Variable lease payments not included in the measurement of lease liabilities | R$ 35482 | R$ 24045 | R$ 10691 |
Expenses relating to short-term leases | 30,507 | 34,101 | 37,143 |
Expenses relating to leases of low-value assets excluding short-term leases of low-value assets | 978 | 1,547 | 348 |
Lease expense | R$ 66967 | R$ 59693 | R$ 48182 |
Financial Assets and Liabili_27
Financial Assets and Liabilities - Summary of Trade Payables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of trade and other payables [line items] | ||
Other | R$ 16325 | R$ 32215 |
Total trade and other payables | 3,253,504 | 2,630,054 |
Materials and service suppliers [member] | ||
Disclosure of trade and other payables [line items] | ||
Trade and other payables to trade suppliers | 1,847,222 | 1,675,553 |
Natural Gas and Transportation Suppliers [Member] | ||
Disclosure of trade and other payables [line items] | ||
Trade and other payables to trade suppliers | 1,314,946 | 780,141 |
Electricity and Transportation Suppliers [Member] | ||
Disclosure of trade and other payables [line items] | ||
Trade and other payables to trade suppliers | 74,893 | 141,418 |
Fuel and lubricants suppliers [member] | ||
Disclosure of trade and other payables [line items] | ||
Trade and other payables to trade suppliers | R$ 118 | R$ 727 |
Financial Assets and Liabili_28
Financial Assets and Liabilities - Summary of Sector financial asset and liability (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Reconciliation of changes in net sector financial asset (liability) | |||
Net sector financial asset (liability) at beginning of period | R$ 324162 | ||
Cost of gas | [1] | 228,153 | 201,346 |
Tax credits | [2] | (542,962) | (565,911) |
Interest | [3] | (243,711) | 13,458 |
Other revenue | [4] | 68,709 | 26,945 |
Net sector financial asset (liability) at end of period | R$ 813973 | (324,162) | |
Cost of gas classified in current assets (as a percent) | 100.00% | ||
Sectorial assets | |||
Reconciliation of changes in net sector financial asset (liability) | |||
Net sector financial asset (liability) at beginning of period | R$ 241749 | ||
Cost of gas | [1] | 228,153 | 201,346 |
Tax credits | [2] | ||
Interest | [3] | 19,699 | 13,458 |
Other revenue | [4] | 68,709 | 26,945 |
Net sector financial asset (liability) at end of period | 558,310 | 241,749 | |
Sectorial liabilities | |||
Reconciliation of changes in net sector financial asset (liability) | |||
Net sector financial asset (liability) at beginning of period | (565,911) | ||
Cost of gas | [1] | ||
Tax credits | [2] | (542,962) | (565,911) |
Interest | [3] | (263,410) | |
Other revenue | [4] | ||
Net sector financial asset (liability) at end of period | R$ 1372283 | R$ 565911 | |
[1] | Refers to the cost of gas purchased higher than that contained in the tariffs, 100% classified in current assets, since ARSESP's resolution provides for tariff recovery on a quarterly basis for the industrial segment, which is a substantial part of the volume of gas distributed by the subsidiary Comgás. | ||
[2] | Exclusion of the ICMS from the PIS and COFINS calculation basis. | ||
[3] | Reflect increases in the cost of gas and its transportation cost in accordance with existing gas purchase contracts. | ||
[4] | Corresponding to inflation as measured by the General Market Price Index ( Índice Geral de Preços – Mercado |
Financial Assets and Liabili_29
Financial Assets and Liabilities - Summary of Derivative Financial Instruments (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of detailed information about financial instruments [line items] | ||||
Total financial instruments | R$ 3656765 | R$ 7694639 | ||
Current assets | 194,878 | 587,894 | ||
Non-current assets | 4,538,048 | 7,552,806 | ||
Current liabilities | (925,650) | (321,890) | ||
Non-current liabilities | (150,511) | (124,171) | ||
Total | 3,656,765 | 7,694,639 | ||
Mark-to-market income | (188,956) | 5,594,511 | R$ 1275297 | |
Electricity Derivatives [Member] | Forward agreements [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [1] | 1,407,476 | 1,354,967 | |
Fair value | [1] | (248,123) | (189,423) | |
Exchange Rate Derivatives [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | 1,407,476 | 1,368,389 | ||
Fair value | (248,123) | (189,771) | ||
Exchange Rate Derivatives [member] | Forward agreements [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [2] | 3,313,428 | 1,656,489 | |
Fair value | [2] | 21,305 | (10,227) | |
Interest Rate and Exchange Rate Risk [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | 23,908,419 | 16,635,029 | ||
Fair value | 3,883,583 | 7,894,637 | ||
Interest Rate and Exchange Rate Risk [Member] | Swap Contract for Shares [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [3] | 1,074,113 | 600,000 | |
Fair value | [3] | R$ 270462 | 79,950 | |
The contracted value of CSAN3 shares with total return swap (in shares) | 61,983,012 | |||
Mark-to-market income | R$ 57704 | |||
Interest Rate and Exchange Rate Risk [Member] | Inflation and Interest Rate Swap Contract [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [4] | 6,590,408 | 2,229,136 | |
Fair value | [4] | 77,913 | 408,867 | |
Interest Rate and Exchange Rate Risk [Member] | Interest rate swaps [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [5] | 3,019,917 | 3,399,997 | |
Fair value | [5] | 154,654 | 755,355 | |
Interest Rate and Exchange Rate Risk [Member] | Exchange and interest rate [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [4] | 13,223,981 | 10,405,896 | |
Fair value | [4] | 3,380,554 | 6,650,465 | |
Fuel Derivatives [member] | Forward agreements [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | 13,422 | |||
Fair value | R$ 348 | |||
[1] | The subsidiary Compass e has a portfolio of energy contracts (purchase and sale) aimed at meeting demands and offers for consumption or supply of energy. In addition, there is a portfolio of contracts that comprises forward positions, usually short-term. For this portfolio, there is no purchase commitment with a sales contract. | |||
[2] | The Company and its subsidiaries TRSP and Moove have forward foreign exchange contracts to hedge exposures and expenses in foreign currency. | |||
[3] | During 2021, the Company entered into derivative negotiations, or Total Return Swap, with commercial banks. Under the Total Return Swap, which will have financial settlement, will receive the return on the variation in the price of CSAN3 shares adjusted by the dividends for the period and will pay annual interest referenced to CDI + Spread. The contracted value of CSAN3 shares with total return swap was 61,983,012 shares and the total initial value is R$1,074,113. Part of these operations are guaranteed by RAIL3 shares of its subsidiary S.A.. On December 31, the mark-to-market income, recorded in the Company's financial income line, was R$57,704. | |||
[4] | The subsidiary contracted interest and exchange swap operations, in order to be assets in USD + fixed interest and liabilities as a percentage of CDI. In the interest and inflation swap operations, the Company is active in IPCA + fixed interest and passive in a percentage of the CDI. | |||
[5] | The subsidiary contracted interest and exchange swap operations, in order to be assets in USD + fixed interest and liabilities as a percentage of CDI. In the interest and inflation swap operations, the Company is active in IPCA + fixed interest and passive in a percentage of the CDI. |
Financial Assets and Liabili_30
Financial Assets and Liabilities - Summary of foreign currency-related hedging instruments and interest rate swaps (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Loans, financing and debentures | R$ 45659037 | R$ 42249460 | R$ 29052215 | |
Fair value hedges [member] | Exchange rate hedge | Designated as Hedging Instruments [Member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount | 7,290,550 | |||
Loans, financing and debentures | (5,639,560) | (8,814,492) | ||
Accumulated fair value adjustment of Debt | 449,390 | (1,756,955) | ||
Notional amount of derivatives | (5,050,975) | |||
Hedging instrument, assets | 942,098 | 3,922,909 | ||
Derivative hedging instruments accumulated fair value adjustment | 832,788 | 1,767,147 | ||
Notional amount of hedging instruments | 2,239,575 | |||
Net currency and interest rate instruments | (4,697,462) | (4,891,583) | ||
Net accumulated fair value adjustment of currency and interest rate instruments | 1,282,178 | 10,192 | ||
Fair value hedges [member] | Exchange rate hedge | 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 | ||||
Hedging instrument, assets | 463,502 | |||
Derivative hedging instruments accumulated fair value adjustment | (78,913) | |||
Fair value hedges [member] | Exchange rate hedge | 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 | ||||
Hedging instrument, assets | 2,118,028 | |||
Derivative hedging instruments accumulated fair value adjustment | 1,021,045 | |||
Fair value hedges [member] | Exchange rate hedge | 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 | ||||
Hedging instrument, assets | 1,341,379 | |||
Derivative hedging instruments accumulated fair value adjustment | (120,326) | 825,015 | ||
Fair value hedges [member] | Exchange rate hedge | Designated as Hedging Instruments [Member] | Senior swaps notes due 2028 | Rumo S.A. [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount of derivatives | (2,791,600) | |||
Hedging instrument, assets | 266,526 | |||
Derivative hedging instruments accumulated fair value adjustment | 277,542 | |||
Fair value hedges [member] | Exchange rate hedge | Designated as Hedging Instruments [Member] | Senior swaps notes due 2032 | Rumo S.A. [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount of derivatives | (2,259,375) | |||
Hedging instrument, assets | 675,572 | |||
Derivative hedging instruments accumulated fair value adjustment | 675,572 | |||
Fair value hedges [member] | Exchange rate hedge | 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 | ||||
Loans, financing and debentures | (1,232,844) | |||
Accumulated fair value adjustment of Debt | (18,357) | |||
Fair value hedges [member] | Exchange rate hedge | 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 | ||||
Loans, financing and debentures | (4,514,289) | |||
Accumulated fair value adjustment of Debt | (959,017) | |||
Fair value hedges [member] | Exchange rate hedge | 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) | |||
Accumulated fair value adjustment of Debt | 355,409 | (779,581) | ||
Fair value hedges [member] | Exchange rate hedge | Designated as Hedging Instruments [Member] | Senior notes due 2028 | Rumo S.A. [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount | 2,791,600 | |||
Loans, financing and debentures | (2,700,621) | |||
Accumulated fair value adjustment of Debt | 108,756 | |||
Fair value hedges [member] | Exchange rate hedge | Designated as Hedging Instruments [Member] | Senior Notes Due 2032 | Rumo S.A. [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount | 2,758,400 | |||
Loans, financing and debentures | (2,938,939) | |||
Accumulated fair value adjustment of Debt | (14,775) | |||
Fair value hedges [member] | Interest rate Objects | Designated as Hedging Instruments [Member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount | 8,214,909 | |||
Loans, financing and debentures | (8,117,549) | (2,741,402) | ||
Accumulated fair value adjustment of Debt | (1,905,909) | (497,952) | ||
Notional amount of derivatives | (8,240,737) | |||
Hedging instrument, assets | (195,799) | 781,333 | ||
Derivative hedging instruments accumulated fair value adjustment | (518,636) | 152,656 | ||
Notional amount of hedging instruments | (25,828) | |||
Net currency and interest rate instruments | (8,313,348) | (1,960,069) | ||
Net accumulated fair value adjustment of currency and interest rate instruments | (2,424,545) | (345,296) | ||
Fair value hedges [member] | Interest rate Objects | Designated as Hedging Instruments [Member] | Debenture 3rd issue - 3rd series | Comgas [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount of derivatives | ||||
Hedging instrument, assets | ||||
Derivative hedging instruments accumulated fair value adjustment | 862 | |||
Fair value hedges [member] | Interest rate Objects | Designated as Hedging Instruments [Member] | Debenture 5th issue - single series | Comgas [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount of derivatives | (684,501) | |||
Hedging instrument, assets | (189,928) | 211,741 | ||
Derivative hedging instruments accumulated fair value adjustment | (401,669) | 10,731 | ||
Fair value hedges [member] | Interest rate Objects | Designated as Hedging Instruments [Member] | Debenture 9th issue - 1st series | Comgas [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount of derivatives | (500,000) | |||
Hedging instrument, assets | 5,776 | |||
Derivative hedging instruments accumulated fair value adjustment | 5,776 | |||
Fair value hedges [member] | Interest rate Objects | Designated as Hedging Instruments [Member] | Debenture 9th issue - 2nd series | Comgas [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount of derivatives | (500,000) | |||
Hedging instrument, assets | 12,939 | |||
Derivative hedging instruments accumulated fair value adjustment | 12,939 | |||
Fair value hedges [member] | Interest rate Objects | Designated as Hedging Instruments [Member] | BNDES Project VIII | Comgas [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount of derivatives | [1] | (1,000,000) | ||
Hedging instrument, assets | [1] | 51,220 | ||
Derivative hedging instruments accumulated fair value adjustment | [1] | 51,220 | ||
Fair value hedges [member] | Interest rate Objects | 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 | (5,556,236) | |||
Hedging instrument, assets | (75,806) | 176,693 | ||
Derivative hedging instruments accumulated fair value adjustment | (196,959) | 183,595 | ||
Fair value hedges [member] | Interest rate Objects | 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 | ||||
Hedging instrument, assets | 392,899 | |||
Derivative hedging instruments accumulated fair value adjustment | 10,057 | (42,532) | ||
Fair value hedges [member] | Interest rate Objects | Designated as Hedging Instruments [Member] | Debenture 3rd issue - 3rd series | Comgas [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount | ||||
Loans, financing and debentures | ||||
Accumulated fair value adjustment of Debt | 575 | |||
Fair value hedges [member] | Interest rate Objects | Designated as Hedging Instruments [Member] | Debenture 5th issue - single series | Comgas [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount | 684,501 | |||
Loans, financing and debentures | (873,474) | (890,658) | ||
Accumulated fair value adjustment of Debt | 17,184 | (22,040) | ||
Fair value hedges [member] | Interest rate Objects | Designated as Hedging Instruments [Member] | Debenture 9th issue - 1st series | Comgas [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount | 500,000 | |||
Loans, financing and debentures | (484,974) | |||
Accumulated fair value adjustment of Debt | (484,974) | |||
Fair value hedges [member] | Interest rate Objects | Designated as Hedging Instruments [Member] | Debenture 9th issue - 2nd series | Comgas [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount | 500,000 | |||
Loans, financing and debentures | (477,578) | |||
Accumulated fair value adjustment of Debt | (477,578) | |||
Fair value hedges [member] | Interest rate Objects | Designated as Hedging Instruments [Member] | BNDES Project VIII | Comgas [member] | ||||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | ||||
Notional amount | 1,000,000 | |||
Loans, financing and debentures | (921,949) | |||
Accumulated fair value adjustment of Debt | (921,949) | |||
Fair value hedges [member] | Interest rate Objects | 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 | 5,530,408 | |||
Loans, financing and debentures | (5,359,574) | (1,281,278) | ||
Accumulated fair value adjustment of Debt | 149,491 | (239,437) | ||
Fair value hedges [member] | Interest rate Objects | 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 | ||||
Loans, financing and debentures | (569,466) | |||
Accumulated fair value adjustment of Debt | R$ 188083 | R$ 237050 | ||
[1] | In the subsidiary Comgás, the exposure of the BNDES Project VIII debt is substantially protected by the hedge contracted in July 2021, with a portion of less than 3% not protected and for practical purposes its segregation at amortized cost becomes irrelevant. |
Financial Assets and Liabili_31
Financial Assets and Liabilities - Schedule of fair value option of financial instruments (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Loans, financing and debentures | R$ 45659037 | R$ 42249460 | R$ 29052215 |
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (4,622,898) | ||
Loans, financing and debentures | (5,403,521) | (5,272,586) | |
Accumulated fair value adjustment of Loans, financing and debentures | 303,423 | (370,997) | |
Notional amount of derivatives | (4,622,898) | ||
Hedging instrument, assets | 2,293,143 | 2,481,493 | |
Derivative hedging instruments accumulated fair value adjustment | 95,408 | 1,475,951 | |
Notional amount of hedging instruments | |||
Net currency and interest rate instruments | (3,110,378) | (2,791,093) | |
Net accumulated fair value adjustment of currency and interest rate instruments | R$ 398831 | 1,104,954 | |
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Swap Notes 2027 | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | 126.85</span>% do CDI" id="sjs-B18">R$ + <span style="border-left: none; border-right: none;">126.85</span>% do CDI | ||
Notional amount of derivatives | R$ 3627325 | ||
Hedging instrument, assets | 2,047,237 | 2,272,648 | |
Derivative hedging instruments accumulated fair value adjustment | R$ 45181 | 1,320,629 | |
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Inflation and interest rate swaps, one | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | R$</span> + <span style="border-left: none; border-right: none;">107</span>% do CDI" id="sjs-B24"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">107</span>% do CDI | ||
Notional amount of derivatives | R$ 100198 | ||
Hedging instrument, assets | 30,535 | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 3096 | ||
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Inflation and interest rate swaps, two | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | R$</span> + <span style="border-left: none; border-right: none;">118</span>% do CDI" id="sjs-B30"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">118</span>% do CDI | ||
Notional amount of derivatives | R$ 220000 | ||
Hedging instrument, assets | 47,527 | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 20019 | ||
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | EIB 3rd Tranche | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | R$</span> + <span style="border-left: none; border-right: none;">88.5</span>% do CDI" id="sjs-B36"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">88.5</span>% do CDI | ||
Notional amount of derivatives | |||
Hedging instrument, assets | 21,176 | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 844 | 24,927 | |
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | EIB 4th Tranche | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | R$</span> + <span style="border-left: none; border-right: none;">81.1</span>% do CDI" id="sjs-B42"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">81.1</span>% do CDI | ||
Notional amount of derivatives | |||
Hedging instrument, assets | 39,256 | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 2583 | 26,219 | |
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Resolution 4,131 (2018) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | R$</span> + <span style="border-left: none; border-right: none;">107.9</span>% do CDI" id="sjs-B48"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">107.9</span>% do CDI | ||
Notional amount of derivatives | R$ 268125 | ||
Hedging instrument, assets | 168,358 | 154,627 | |
Derivative hedging instruments accumulated fair value adjustment | R$ 20794 | 117,080 | |
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Resolution 4,131 (2020) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | R$</span> + CDI + <span style="border-left: none; border-right: none;">2.75</span>%" id="sjs-B54"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + CDI + <span style="border-left: none; border-right: none;">2.75</span>% | ||
Notional amount of derivatives | |||
Hedging instrument, assets | (6,214) | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 15711 | (12,904) | |
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Resolution 4,131 (2021) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | R$</span> + CDI + <span style="border-left: none; border-right: none;">1.25</span>%" id="sjs-B60"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + CDI + <span style="border-left: none; border-right: none;">1.25</span>% | ||
Notional amount of derivatives | R$ 407250 | ||
Hedging instrument, assets | (514) | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 6628 | ||
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Senior notes due 2027 | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | 7.0</span>%" id="sjs-B66">US$+<span style="border-left: none; border-right: none;">7.0</span>% | ||
Notional amount | R$ 3627325 | ||
Loans, financing and debentures | (4,305,928) | (4,379,812) | |
Accumulated fair value adjustment of Loans, financing and debentures | R$ 313052 | (349,181) | |
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Export credit agreement | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | 0.58</span>%" id="sjs-B72">EUR + <span style="border-left: none; border-right: none;">0.58</span>% | ||
Notional amount | R$ 100198 | ||
Loans, financing and debentures | (95,460) | ||
Accumulated fair value adjustment of Loans, financing and debentures | R$ 1337 | ||
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Resolution 4131 | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | 2.20</span>%" id="sjs-B78">US$ + <span style="border-left: none; border-right: none;">2.20</span>% | ||
Notional amount | R$ 220000 | ||
Loans, financing and debentures | (148,932) | ||
Accumulated fair value adjustment of Loans, financing and debentures | R$ 4412 | ||
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | EIB 3rd Tranche | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | US$ + <span>LIBOR</span><span>6</span>M + <span>0.54</span>% | ||
Notional amount | |||
Loans, financing and debentures | (30,817) | ||
Accumulated fair value adjustment of Loans, financing and debentures | 156 | ||
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | EIB 4th Tranche | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | US$ + <span>LIBOR</span><span>6</span>M + <span>0.61</span>% | ||
Notional amount | |||
Loans, financing and debentures | (57,813) | ||
Accumulated fair value adjustment of Loans, financing and debentures | 308 | ||
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Resolution 4,131 (2018) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | 3.67</span>%" id="sjs-B96">US$ + <span style="border-left: none; border-right: none;">3.67</span>% | ||
Notional amount | R$ 268125 | ||
Loans, financing and debentures | (438,823) | (415,232) | |
Accumulated fair value adjustment of Loans, financing and debentures | R$ 18230 | (24,247) | |
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Resolution 4,131 (2020) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | 1.59</span>%" id="sjs-B102">US$ + <span style="border-left: none; border-right: none;">1.59</span>% | ||
Notional amount | |||
Loans, financing and debentures | (388,912) | ||
Accumulated fair value adjustment of Loans, financing and debentures | 1,967 | ||
Financial liabilities at fair value through profit or loss, category | Exchange rate Objects | Designated as Hedging Instruments [Member] | Resolution 4,131 (2021) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | 1.36</span>%" id="sjs-B108">US$ + <span style="border-left: none; border-right: none;">1.36</span>% | ||
Notional amount | R$ 407250 | ||
Loans, financing and debentures | (414,378) | ||
Accumulated fair value adjustment of Loans, financing and debentures | 5,526 | ||
Financial liabilities at fair value through profit or loss, category | Interest rate Objects | Designated as Hedging Instruments [Member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (1,100,000) | ||
Loans, financing and debentures | (1,220,550) | ||
Accumulated fair value adjustment of Loans, financing and debentures | 213,627 | ||
Notional amount of derivatives | (1,100,000) | ||
Hedging instrument, assets | 153,719 | ||
Derivative hedging instruments accumulated fair value adjustment | (53,150) | ||
Notional amount of hedging instruments | |||
Net currency and interest rate instruments | (1,066,831) | ||
Net accumulated fair value adjustment of currency and interest rate instruments | R$ 160477 | ||
Financial liabilities at fair value through profit or loss, category | Interest rate Objects | Designated as Hedging Instruments [Member] | Foreign exchange and interest swap, one | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | 107</span>% CDI" id="sjs-B125"><span style="border-left: none; border-right: none;">107</span>% CDI | ||
Notional amount of derivatives | R$ 500000 | ||
Hedging instrument, assets | 71,375 | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 11682 | ||
Financial liabilities at fair value through profit or loss, category | Interest rate Objects | Designated as Hedging Instruments [Member] | Foreign exchange and interest swap, two | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | 105</span>% CDI" id="sjs-B131"><span style="border-left: none; border-right: none;">105</span>% CDI | ||
Notional amount of derivatives | R$ 600000 | ||
Hedging instrument, assets | 82,344 | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 41468 | ||
Financial liabilities at fair value through profit or loss, category | Interest rate Objects | Designated as Hedging Instruments [Member] | Debenture, one | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | IPCA + <span>4,68</span>% | ||
Notional amount | R$ 500000 | ||
Loans, financing and debentures | (543,752) | ||
Accumulated fair value adjustment of Loans, financing and debentures | R$ 82474 | ||
Financial liabilities at fair value through profit or loss, category | Interest rate Objects | Designated as Hedging Instruments [Member] | Debenture, two | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Borrowings, interest rate basis | 4,50</span>%" id="sjs-B143">IPCA + <span style="border-left: none; border-right: none;">4,50</span>% | ||
Notional amount | R$ 600000 | ||
Loans, financing and debentures | (676,798) | ||
Accumulated fair value adjustment of Loans, financing and debentures | R$ 131153 |
Financial Assets and Liabili_32
Financial Assets and Liabilities - Derivative financial instruments, interset rate and credit risk - Additional information (Detail) R$ in Thousands | 1 Months Ended | 12 Months Ended |
Jul. 31, 2021 | Dec. 31, 2021BRL (R$)Item | |
Disclosure of detailed information about financial instruments [line items] | ||
Description of how entity establishes hedge ratio and what sources of hedge ineffectiveness are | The Company established a 1:1 hedge ratio for hedge relationships, since the underlying risk of the interest rate and exchange rate swap is identical to the hedged risk component | |
Number of categories of customers in credit risk of lease receivables | Item | 2 | |
Variation scenario +/- 25% | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of reasonably possible increase (decrease) in associated risk variables | 25.00% | |
Variation scenario +/- 50% | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of reasonably possible increase (decrease) in associated risk variables | 50.00% | |
Comgas [member] | BNDES Project VIII | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum percentage of debt instrument not protected | 3.00% | |
Electricity trading [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Purchase commitment | R$ 0 | |
Electricity trading [member] | Compass Gás e Energia [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Purchase commitment | R$ 0 |
Financial Assets and Liabili_33
Financial Assets and Liabilities - Summary of Market Value of Senior Notes that are listed on Luxembourg Stock Exchange (Detail) | Dec. 31, 2021 | Dec. 31, 2020 |
Senior notes due 2023 [member] | Cosan S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 100.26% | 101.02% |
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% | |
Senior notes due 2024 [member] | Cosan Limited [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 103.22% | |
Senior notes due 2025[member] | Rumo S A [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 103.04% | 105.96% |
Senior notes due 2027 [member] | Cosan S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 103.79% | 108.20% |
Senior Notes Due 2028 [Member] | Rumo S A [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 103.42% | 108.75% |
Senior Notes Due 2029[Member] | Cosan S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 104.39% | 110.05% |
Senior Notes Due 2032 [Member] | Rumo S A [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 94.34% | |
Perpetual notes [member] | Cosan S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 102.17% | 102.88% |
Financial Assets and Liabili_34
Financial Assets and Liabilities - Summary of Carrying Amounts and Fair Value of Financial Assets and Financial Liabilities (Detail) - BRL (R$) | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | R$ 29914865000 | R$ 28842050000 |
Financial liabilities | (59,932,201,000) | (53,176,950,000) |
Cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 21,431,535,000 | 14,034,381,000 |
Financial liabilities | (46,735,198,000) | (42,920,308,000) |
Cost [member] | Investment fund [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 8,103,713,000 | 2,155,446,000 |
Cost [member] | Marketable securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 4,388,007,000 | 3,669,109,000 |
Cost [member] | Other financial assets [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 320,193,000 | 69,126,000 |
Cost [member] | Investment properties [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 3,886,696,000 | |
Cost [member] | Derivative financial instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 4,732,926,000 | 8,140,700,000 |
Financial liabilities | (1,076,161,000) | (446,061,000) |
Cost [member] | Loans, borrowings and debentures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | (45,659,037,000) | (42,249,460,000) |
Cost [member] | Contingent consideration [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | (224,787,000) | |
Fair value [member] | Level 1 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 69,126,000 | |
Financial liabilities | (30,157,655) | (24,971,099,000) |
Fair value [member] | Level 1 [member] | Investment fund [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | ||
Fair value [member] | Level 1 [member] | Marketable securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | ||
Fair value [member] | Level 1 [member] | Other financial assets [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 69,126,000 | |
Fair value [member] | Level 1 [member] | Investment properties [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | ||
Fair value [member] | Level 1 [member] | Derivative financial instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | ||
Financial liabilities | ||
Fair value [member] | Level 1 [member] | Loans, borrowings and debentures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | (30,157,655,000) | (24,971,099,000) |
Fair value [member] | Level 1 [member] | Contingent consideration [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | ||
Fair value [member] | Level 2 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 17,544,839,000 | 13,965,255,000 |
Financial liabilities | (21,290,761,000) | (19,526,428,000) |
Fair value [member] | Level 2 [member] | Investment fund [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 8,103,713,000 | 2,155,446,000 |
Fair value [member] | Level 2 [member] | Marketable securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 4,388,007,000 | 3,669,109,000 |
Fair value [member] | Level 2 [member] | Other financial assets [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 320,193,000 | |
Fair value [member] | Level 2 [member] | Investment properties [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | ||
Fair value [member] | Level 2 [member] | Derivative financial instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 4,732,926,000 | 8,140,700,000 |
Financial liabilities | (1,076,161,000) | (446,061,000) |
Fair value [member] | Level 2 [member] | Loans, borrowings and debentures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | (20,214,600,000) | (18,855,850,000) |
Fair value [member] | Level 2 [member] | Contingent consideration [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | R$ 224787000 | |
Fair value [member] | Level 3 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 3,886,696,000 | |
Financial liabilities | ||
Fair value [member] | Level 3 [member] | Investment fund [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | ||
Fair value [member] | Level 3 [member] | Marketable securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | ||
Fair value [member] | Level 3 [member] | Other financial assets [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | ||
Fair value [member] | Level 3 [member] | Investment properties [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 3,886,696,000 | |
Fair value [member] | Level 3 [member] | Derivative financial instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | ||
Financial liabilities | ||
Fair value [member] | Level 3 [member] | Loans, borrowings and debentures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | ||
Fair value [member] | Level 3 [member] | Contingent consideration [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities |
Financial assets and liabili_35
Financial assets and liabilities - Summary of Financial Risks and Financial Performance (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
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 | (i) 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, and investment property |
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_36
Financial assets and liabilities - Summary of Net Exposure to Exchange Rate Variations on Assets and Liabilities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | R$ 29356555 | R$ 28531175 |
Cash and cash equivalents [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | 16,174,130 | 13,642,918 |
Trade receivables [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | 2,745,853 | 2,033,441 |
Derivative financial instruments (notional) [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | 4,732,926 | 8,140,700 |
Foreign exchange risk [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | 5,021,936 | (4,779,531) |
Foreign exchange risk [member] | Cash and cash equivalents [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | 3,811,598 | 2,995,284 |
Foreign exchange risk [member] | Trade receivables [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | 93,326 | 24,619 |
Foreign exchange risk [member] | Trade payables [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | (4,721) | (229,750) |
Foreign exchange risk [member] | Loans, borrowings and debentures [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | (19,640,300) | (25,227,055) |
Foreign exchange risk [member] | Leases [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | (108,365) | (99,217) |
Foreign exchange risk [member] | Contingent consideration [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | (234,960) | (224,787) |
Foreign exchange risk [member] | Derivative financial instruments (notional) [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | R$ 21105358 | R$ 17981375 |
Financial assets and liabili_37
Financial assets and liabilities - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2021 | |
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_38
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, 2021BRL (R$) | |
Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Trade receivables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Currency fluctuation |
Probable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | R$ 2427507 |
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 | 81,621 |
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 | 76,502 |
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 | (1,414) |
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 | 2,457,838 |
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 | (424,712) |
Probable [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (2,321) |
Probable [member] | Consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 239,993 |
25% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (1,916,743) |
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 | 1,054,926 |
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 | 100,347 |
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 | (926) |
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 | 3,676,786 |
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 | (7,017,875) |
25% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (29,992) |
25% [member] | Consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 299,991 |
50% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (4,088,475) |
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 | 2,028,231 |
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 | 124,191 |
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 | (438) |
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 | 6,946,953 |
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 | (13,489,738) |
50% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | (57,663) |
50% [member] | Consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 359,989 |
-25% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 2,424,719 |
-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 | (891,684) |
-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 | 52,658 |
-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 | (1,902) |
-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 | (2,863,548) |
-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 | 5,925,849 |
-25% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 23,351 |
-25% [member] | Consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 179,995 |
-50% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 4,598,451 |
-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 | (1,864,989) |
-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 | 28,813 |
-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 | (2,389) |
-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 | (6,133,715) |
-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 | 12,397,712 |
-50% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | 53,022 |
-50% [member] | Consideration payable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates impact on profit loss | R$ 119997 |
Financial assets and liabili_39
Financial assets and liabilities - Summary of Sensitivity Analysis on Changes in Foreign Exchange Rates (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 5.5805% |
Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 6.321% |
United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 7.5242% |
Probable [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 5.70% |
Probable [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 6.555% |
Probable [member] | United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 7.923% |
25% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 7.125% |
25% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 8.1938% |
25% [member] | United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 9.9038% |
50% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 8.55% |
50% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 9.8325% |
50% [member] | United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 11.8845% |
-25% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 4.275% |
-25% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 4.9163% |
-25% [member] | United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 5.9423% |
-50% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 2.85% |
-50% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 3.2775% |
-50% [member] | United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis, scenario | 3.9615% |
Financial assets and liabili_40
Financial assets and liabilities - Summary of Sensitivity Analysis on Interest Rates on Loans and Borrowings (Detail) R$ in Thousands | 12 Months Ended |
Dec. 31, 2021BRL (R$) | |
Probable [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | R$ 628702 |
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 | 1,623,771 |
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 | 487,145 |
Probable [member] | Lease and concession in installments [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (121,902) |
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 | (371,433) |
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 | 1,327,786 |
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 | (2,244,669) |
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 | (71,996) |
25% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (2,143,748) |
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 | 1,995,927 |
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 | 598,464 |
25% [member] | Lease and concession in installments [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (152,377) |
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 | (371,433) |
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 | (1,365,311) |
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 | (2,760,945) |
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 | (88,073) |
50% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (2,815,858) |
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 | 2,385,014 |
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 | 714,627 |
50% [member] | Lease and concession in installments [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (182,853) |
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 | (371,433) |
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 | (2,073,012) |
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 | (3,184,050) |
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 | (104,151) |
-25% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (356,054) |
-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 | 1,423,642 |
-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 | 430,749 |
-25% [member] | Lease and concession in installments [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (91,426) |
-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 | (371,433) |
-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 | 223,066 |
-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 | (1,914,734) |
-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 | (55,918) |
-50% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 616,606 |
-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 | 1,116,070 |
-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 | 340,218 |
-50% [member] | Lease and concession in installments [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (60,951) |
-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 | (371,433) |
-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 | 1,124,171 |
-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 | (1,491,629) |
-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$ 39840 |
Financial assets and liabili_41
Financial assets and liabilities - Summary of Probable Scenario Considers Estimated Interest Rate (Detail) | Dec. 31, 2021 |
Probable [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 11.15% |
Probable [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 11.15% |
Probable [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 7.60% |
Probable [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.60% |
Probable [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 4.61% |
Probable [member] | IGPM [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.19% |
Probable [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 1.16% |
Probable [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.90% |
25% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 13.94% |
25% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 13.94% |
25% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 9.25% |
25% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 8.25% |
25% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.76% |
25% [member] | IGPM [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.48% |
25% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 1.45% |
25% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 1.13% |
50% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 16.73% |
50% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 16.73% |
50% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 10.90% |
50% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 9.90% |
50% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.91% |
50% [member] | IGPM [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 7.78% |
50% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 1.74% |
50% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 1.35% |
-25% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 8.36% |
-25% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 8.36% |
-25% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.95% |
-25% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 4.95% |
-25% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.46% |
-25% [member] | IGPM [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.89% |
-25% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.87% |
-25% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.68% |
-50% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.58% |
-50% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.58% |
-50% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 4.30% |
-50% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.30% |
-50% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.30% |
-50% [member] | IGPM [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.59% |
-50% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.58% |
-50% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 0.45% |
Financial risk management - Sch
Financial risk management - Schedule of outstanding energy trading operations (Detail) - Price risk - Electricity trading [member] - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Financial position and unrealized gains on electricity trading operations, net | ||
Assets | R$ 69576 | R$ 96595 |
Liabilities | (317,699) | (268,018) |
Net loss | R$ 248123 | R$ 189018 |
Financial risk management - S_2
Financial risk management - Schedule of outstanding energy trading operations (Details) - Price risk - Electricity trading [member] - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Scenarios for sensitivity analysis | ||
Unrealized loss from electricity trading | R$ 248123 | R$ 189018 |
Probable | ||
Scenarios for sensitivity analysis | ||
Unrealized loss from electricity trading | (248,123) | |
25% [member] | ||
Scenarios for sensitivity analysis | ||
Unrealized loss from electricity trading | (244,212) | |
50% [member] | ||
Scenarios for sensitivity analysis | ||
Unrealized loss from electricity trading | (240,302) | |
(25)% [member] | ||
Scenarios for sensitivity analysis | ||
Unrealized loss from electricity trading | (252,034) | |
(50%) [member] | ||
Scenarios for sensitivity analysis | ||
Unrealized loss from electricity trading | R$ 255942 |
Financial risk management - S_3
Financial risk management - Schedule of projection of settlement of positions, at nominal value of energy trading operations (Details) - Price risk - Electricity trading [member] R$ in Thousands | Dec. 31, 2021BRL (R$) |
Up to 1 year [member] | |
Financial position and unrealized gains on electricity trading operations, net | |
Positions to be settled | R$ 248115 |
From 1 to 2 years [member] | |
Financial position and unrealized gains on electricity trading operations, net | |
Positions to be settled | (13,822) |
From 2 to 3 years | |
Financial position and unrealized gains on electricity trading operations, net | |
Positions to be settled | 1,093 |
Above 2025 | |
Financial position and unrealized gains on electricity trading operations, net | |
Positions to be settled | R$ 12721 |
Financial assets and liabili_42
Financial assets and liabilities - Summary of Credit Risk (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | R$ 29356555 | R$ 28531175 |
Cash and cash equivalents [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 16,174,130 | 13,642,918 |
Trade receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 2,745,853 | 2,033,441 |
Marketable securities [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 4,388,007 | 3,669,109 |
Restricted cash [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 58,990 | |
Derivative financial instruments [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 4,732,926 | 8,140,700 |
Receivables from related parties [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 416,491 | 929,690 |
Dividend receivable [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 519,965 | 80,755 |
Restricted cash [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | R$ 320193 | R$ 34562 |
Financial assets and liabili_43
Financial assets and liabilities - Summary of Credit Risk Rating (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of external credit grades [line items] | ||
Credit rating | R$ 25354053 | R$ 25487289 |
AAA credit rating [member] | ||
Disclosure of external credit grades [line items] | ||
Credit rating | 23,080,390 | 20,878,272 |
AA credit rating [member] | ||
Disclosure of external credit grades [line items] | ||
Credit rating | 2,239,266 | 3,991,846 |
BBB | ||
Disclosure of external credit grades [line items] | ||
Credit rating | R$ 34397 | R$ 617171 |
Financial assets and liabili_44
Financial assets and liabilities - Summary of Financial Liabilities (Detail) - Liquidity risk [member] - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | R$ 73146801 | R$ 61713570 |
Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (12,631,238) | |
From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (7,248,171) | |
3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (12,077,426) | |
More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (41,189,966) | |
Loans, borrowings and debentures [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (57,375,287) | (46,012,176) |
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 | (5,845,774) | |
Loans, borrowings and debentures [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (6,628,072) | |
Loans, borrowings and debentures [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (12,124,037) | |
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 | (32,777,404) | |
Trade payables [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (3,253,504) | (2,629,734) |
Trade payables [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (3,253,504) | |
Trade payables [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Trade payables [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Trade payables [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Other financial liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (726,423) | (562,763) |
Other financial liabilities [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (726,423) | |
Other financial liabilities [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Other financial liabilities [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Other financial liabilities [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
REFIS [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (200,664) | (203,222) |
REFIS [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (52,805) | |
REFIS [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (3,453) | |
REFIS [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (1,395) | |
REFIS [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (143,011) | |
Leases [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (15,631,812) | (14,348,296) |
Leases [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (413,310) | |
Leases [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (413,692) | |
Leases [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (1,133,476) | |
Leases [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (13,671,334) | |
Railway Concession Payable under Litigation [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (1,185,076) | (1,219,188) |
Railway Concession Payable under Litigation [Member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (187,972) | |
Railway Concession Payable under Litigation [Member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (201,876) | |
Railway Concession Payable under Litigation [Member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (198,532) | |
Railway Concession Payable under Litigation [Member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (596,696) | |
Payables to related parties [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (287,609) | (315,433) |
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 | (287,609) | |
Payables to related parties [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Payables to related parties [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
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 | ||
Dividends payable [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (799,634) | (24,238) |
Dividends payable [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (799,634) | |
Dividends payable [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Dividends payable [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Dividends payable [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Derivative financial instruments [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 6,313,208 | 3,988,524 |
Derivative financial instruments [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (1,064,207) | |
Derivative financial instruments [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (1,078) | |
Derivative financial instruments [member] | 3 - 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 1,380,014 | |
Derivative financial instruments [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 5,998,479 | |
Preferred shareholders payable in subsidiaries [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | R$ 387044 | |
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 | ||
Preferred shareholders payable in subsidiaries [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
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 | ||
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 |
Other Tax Receivables - Summary
Other Tax Receivables - Summary of Other Tax Receivables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | R$ 2801167 | R$ 1743038 | |
Current | 921,472 | 785,367 | |
Non-Current | 1,879,695 | 957,671 | |
COFINS - Revenue tax [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | [1] | 1,333,868 | 625,174 |
ICMS - State VAT [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | [2] | 873,203 | 754,749 |
ICMS CIAP - State VAT [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | [3] | 106,250 | 124,006 |
PIS - Revenue tax [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | [1] | 299,610 | 136,765 |
Credit installment [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | 42,932 | 42,138 | |
Other [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | R$ 145304 | R$ 60206 | |
[1] | At the subsidiary , on March 15, 2017, the Federal Supreme Court ( tribunal Federal or “STF”) concluded the judgment of Extraordinary Appeal No. 574,706 and, under the general repercussion system, established the thesis that the ( ICMS tax should not be included in the calculation basis of the Social Integration Program tax ( de ;Social or “PIS”) and the Contribution to Social Security Financing tax ( para o da Social or “COFINS”), since such amount does not constitute the Company's revenue. That is, taxpayers have the right to exclude the amount related to ICMS highlighted in the invoice from the PIS and COFINS calculation basis. In 2018, the subsidiary Comgás recognized the credits for the periods after March 2017 based on the decision given at that date by the Supreme Court, maintaining as contingent asset values arising from the action, not yet judged definitively, which went back to July 2008. At the subsidiary Comgás, on May 13, 2021, the STF concludes the judgment on the modulation of the effects of the decision that excluded ICMS from the PIS and COFINS calculation basis (RE 574,706), as well as confirmed that the ICMS to be considered in the matter is the highlighted, not collected. According to the modulation, the effects of the exclusion are valid from March 15, 2017 – the date on which the ministers decided on the merits in the Plenary of the Court. In the case of Comgás, since its original claim dates from July 2013, in accordance with the legal form of the modulation of the effects, the right to recover the undue amount until July 2008. In this way, all relevant circumstances and, up to then, pending on the subject were overcome and, therefore, from the point of view of IAS 37 , the amounts related to the claim were no longer classified as contingent assets, since their existence was confirmed, and their realization is practically certain. Therefore, in June 2021, the Company recorded, an amount of R$957,663 (R$573,462 principal and R$382,201 monetary restatement), updated on December 31, 2021, total R$956,338 (R$563,175 principal and R$393,213 monetary restatement), related to PIS and COFINS credits in its non-current assets, which includes monetary restatement at the SELIC rate. In August 2021, the final and unappealable decision of the individual action filed by the subsidiary Comgás on the subject in 2013 was certified. Eventually, be considered as a component of tariff adjustment within the scope of the economic and financial balance of the concession contract, and such interpretation gained greater clarity after the modulation of the effects by the STF in the judgment of May 13, 2021. Therefore, of the total amount of credits recognized up to December 31, 2021, the subsidiary Comgás also recorded a provision in the amount of R$638,975 (R$375,565 principal and R$263,410 monetary restatement), equivalent to the uncertain portion, in its Sectoral Liabilities item, in non-current liabilities (Note 6 .9 | ||
[2] | ICMS credit related to the purchase of materials and diesel used in rail transportation. | ||
[3] | ICMS credit arising from acquisitions of property, plant and equipment. |
Other Tax Receivables - Additio
Other Tax Receivables - Additional Information (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | R$ 2801167 | R$ 1743038 | |
Comgas [member] | PIS and COFINS [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | 956,338 | R$ 957663 | |
Principal amount | 563,175 | 573,462 | |
Monetary restatement | 393,213 | R$ 382201 | |
Comgas [member] | PIS and COFINS [member] | Provision for uncertain tax liabilities [member] | |||
Trade and Other Current Receivables [line items] | |||
Provisioned amount | 638,975 | ||
Provisioned amount, principal | 375,565 | ||
Provisioned amount, monetary restatement | R$ 263410 |
Inventories - Summary of invent
Inventories - Summary of inventories and written down of inventories (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Classes of current inventories [abstract] | ||
Finished goods | R$ 814320 | R$ 560028 |
Spare parts and accessories | 180,286 | 219,831 |
Raw material | 126,889 | 118,319 |
Warehouse and other | 27,809 | 30,279 |
Fuels and lubricants | 6,807 | |
Inventories | 1,149,304 | 935,264 |
Provision for obsolete inventories | R$ 26841 | R$ 17449 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of associates and joint ventures [line items] | ||||
Beginning balance | R$ 383851 | |||
Interest in earnings of subsidiaries | (130,225) | R$ 28801 | R$ 1231 | |
Ending balance | R$ 780067 | R$ 383851 | ||
Compass Gás e Energia [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 714,190,095 | |||
Cosan Lubes Investments Limited [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 34,963,764 | |||
Rumo S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 1,854,158,791 | |||
Companhia de Gas de Sao Paulo – COMGAS [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 99.15% | |||
Compass Comercialização S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | |||
Compass Energia Ltda. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | |||
Terminal de Regaseificação de São Paulo - TRSP [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | |||
Rota 4 Participações S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | |||
Edge II - Empresa de Geração de Energia [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | |||
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 | [1] | 100.00% | 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] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
Rumo Malha Paulista S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
Rumo Malha Sul S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
Rumo Malha Norte SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 99.74% | 28.40% | |
Rumo Malha Central S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
Elevacoes Portuarias S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
Logispot Armazens Gerais S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 51.00% | 14.52% | |
Rumo Luxembourg Sarl [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
Rumo Intermodal SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
Boswells S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
A L L Argentina S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
Paranagua S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 99.90% | 28.47% | |
A L L Armazens Gerais Ltda [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
Portofer Ltda [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
A L L Mesopotamica S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 70.56% | 20.09% | |
A L L Central S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 73.55% | 20.94% | |
Servicios De Inversion Logistica Integrales SA [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 100.00% | 28.47% | |
Brado Logisticae Participacoes S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 77.65% | 17.71% | |
Brado Logistica S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 77.65% | 17.71% | |
Verde Pinho Fundo de Investimento em Participações [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | |||
Radar Propriedades Agricolas S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 50.00% | |||
Radar II Propriedades Agricolas S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 50.00% | |||
Nova Agrícola Ponte Alta S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 50.00% | |||
Nova Amaralina S.A Propriedades Agrícolas [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 50.00% | |||
Nova Santa Bárbara Agrícola S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 50.00% | |||
Terras da Ponta Alta S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 50.00% | |||
Castanheira Propriedades Agrícolas S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 50.00% | |||
Manacá Propriedades Agrícolas S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 50.00% | |||
Paineira Propriedades Agrícolas S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 50.00% | |||
Associates [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Beginning balance | R$ 383851 | R$ 377707 | ||
Interest in earnings of subsidiaries | 130,225 | 28,801 | ||
Other comprehensive income | 7,856 | 240 | ||
Dividends | (15,099) | (17,452) | ||
Capital increase | 398,538 | 1,142 | ||
Business Combination | (125,130) | |||
Other | (174) | (6,587) | ||
Ending balance | R$ 780067 | R$ 383851 | 377,707 | |
Associates [member] | Cosan Logistica S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 73.48% | ||
Associates [member] | Cosan S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 66.74% | ||
Associates [member] | Cosan Limited Partners Brasil Consultoria Ltda [Member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 97.50% | 60.00% | |
Associates [member] | Sinlog Tecnologia em Logstica SA [Member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [2] | 72.25% | 64.52% | |
Associates [member] | Compass Gás e Energia [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [3] | 88.00% | 99.01% | |
Associates [member] | Cosan Lubes Investments Limited [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 70.00% | 70.00% | ||
Associates [member] | Cosan Cayman II Limited [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Associates [member] | Cosan Global Limited [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Associates [member] | Cosan Investimentose Participacoes S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | |||
Associates [member] | Cosan Luxembourg S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [4] | 100.00% | 100.00% | |
Associates [member] | Cosan Overseas Limited [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Associates [member] | Pasadena Empreendimentose Participacoes S A [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | 100.00% | ||
Associates [member] | Atlântico Participações Ltda. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | |||
Associates [member] | Payly Solucoes de Pagamentos S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 75.00% | 75.00% | ||
Associates [member] | Rumo S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | [4] | 30.35% | 30.35% | |
Associates [member] | Violeta Fundo de Investimento Multimercado [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Percentage of ownership interest | 100.00% | |||
Associates [member] | Radar Propriedades Agricolas S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Beginning balance | R$ 62371 | R$ 59860 | ||
Interest in earnings of subsidiaries | (1,688) | 3,512 | ||
Other comprehensive income | 1,060 | 232 | ||
Dividends | (879) | (1,233) | ||
Capital increase | ||||
Business Combination | (19,565) | |||
Other | (41,299) | |||
Ending balance | 62,371 | 59,860 | ||
Associates [member] | Radar II Propriedades Agricolas S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Beginning balance | 33,204 | 31,975 | ||
Interest in earnings of subsidiaries | 12,751 | 1,747 | ||
Other comprehensive income | 1,553 | 45 | ||
Dividends | (1,854) | (563) | ||
Capital increase | ||||
Business Combination | (45,659) | |||
Other | 5 | |||
Ending balance | 33,204 | 31,975 | ||
Associates [member] | Tellus Brasil Participacoes S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 120,920,515 | |||
Shares held by Cosan | 61,359,623 | |||
Cosan ownership interest | 50.74% | |||
Economic benefits % | 5.00% | |||
Beginning balance | R$ 105665 | 102,342 | ||
Interest in earnings of subsidiaries | 39,938 | 6,883 | ||
Other comprehensive income | ||||
Dividends | (2,805) | (3,560) | ||
Capital increase | ||||
Business Combination | ||||
Other | ||||
Ending balance | R$ 142798 | 105,665 | 102,342 | |
Associates [member] | Janus Brasil Participacoes S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 229,689,888 | |||
Shares held by Cosan | 116,620,166 | |||
Cosan ownership interest | 50.77% | |||
Economic benefits % | 5.00% | |||
Beginning balance | R$ 130901 | 126,087 | ||
Interest in earnings of subsidiaries | 49,235 | 7,591 | ||
Other comprehensive income | ||||
Dividends | (1,738) | (3,909) | ||
Capital increase | 4,959 | 1,132 | ||
Business Combination | ||||
Other | ||||
Ending balance | 183,357 | 130,901 | 126,087 | |
Associates [member] | Other investments [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Beginning balance | 996 | |||
Interest in earnings of subsidiaries | 16,331 | |||
Other comprehensive income | 5,243 | |||
Dividends | (2,854) | |||
Capital increase | ||||
Business Combination | (59,906) | |||
Other | 41,878 | |||
Ending balance | R$ 1688 | 996 | ||
Associates [member] | Rhall Terminais Ltda | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 28,580 | |||
Shares held by Cosan | 8,574 | |||
Cosan ownership interest | 30.00% | |||
Economic benefits % | 30.00% | |||
Beginning balance | R$ 3765 | |||
Interest in earnings of subsidiaries | 1,145 | |||
Other comprehensive income | ||||
Dividends | (3) | |||
Capital increase | ||||
Business Combination | ||||
Other | ||||
Ending balance | R$ 4907 | 3,765 | ||
Associates [member] | Termag - Terminal Marítimo de Guarujá S.A. | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 500,000 | |||
Shares held by Cosan | 99,246 | |||
Cosan ownership interest | 19.85% | |||
Economic benefits % | 19.85% | |||
Beginning balance | R$ 1673 | |||
Interest in earnings of subsidiaries | 3,810 | |||
Other comprehensive income | ||||
Dividends | ||||
Capital increase | ||||
Business Combination | ||||
Other | (758) | |||
Ending balance | R$ 4725 | 1,673 | ||
Associates [member] | TGG - Terminal de Granéis do Guarujá S.A. | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 79,747,000 | |||
Shares held by Cosan | 7,914,609 | |||
Cosan ownership interest | 9.92% | |||
Economic benefits % | 9.92% | |||
Beginning balance | R$ 18679 | |||
Interest in earnings of subsidiaries | 3,850 | |||
Other comprehensive income | ||||
Dividends | (4,966) | |||
Capital increase | ||||
Business Combination | ||||
Other | ||||
Ending balance | R$ 17563 | 18,679 | ||
Associates [member] | Terminal XXXIX S.A. | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 200,000 | |||
Shares held by Cosan | 99,246 | |||
Cosan ownership interest | 49.62% | |||
Economic benefits % | 49.62% | |||
Beginning balance | R$ 26597 | |||
Interest in earnings of subsidiaries | 4,052 | |||
Other comprehensive income | ||||
Dividends | ||||
Business Combination | ||||
Other | ||||
Ending balance | R$ 30649 | 26,597 | ||
Associates [member] | TUP Porto São Luis S.A. [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Shares issued by the subsidiary | 42,635,878 | |||
Shares held by Cosan | 20,891,583 | |||
Cosan ownership interest | 49.00% | |||
Economic benefits % | 49.00% | |||
Beginning balance | ||||
Interest in earnings of subsidiaries | 801 | |||
Other comprehensive income | ||||
Dividends | ||||
Capital increase | 393,579 | |||
Business Combination | ||||
Other | ||||
Ending balance | 394,380 | |||
Associates [member] | Other Investment [member] | ||||
Disclosure of associates and joint ventures [line items] | ||||
Beginning balance | R$ 51710 | 57,443 | ||
Interest in earnings of subsidiaries | 9,068 | |||
Other comprehensive income | 37 | |||
Dividends | (8,187) | |||
Capital increase | 10 | |||
Other | (6,587) | |||
Ending balance | R$ 51710 | R$ 57443 | ||
[1] | In August 2021, Moove Lubricants Limited acquired 25 32,030 | |||
[2] | Changes in equity interest resulting from the Corporate Reorganization. | |||
[3] | As describe in Note 2, the subsidiary Compass Gás e Energia, , entered into Investment Agreements that resulted in the dilution of the Company's interest. As of December 31, 2021, contributions were made to Compass for a total amount of R$ 2,250,015 . The agreement signed with Atmos has a clause that grants Atmos the option to sell its shares in Compass and the Company is committed to pay any difference between Atmos selling price and the base price determined in the agreement. On December 31, 2021, the option hadno value since Compass' valuation exceeds the base price determined in the contract. | |||
[4] | Management has concluded that there are no material uncertainties that cast doubt on the continuity of the subsidiary. Despite presenting on December 31, 2021, the amount with an unsecured liability of R$ 356,442 |
Investments in Associates - S_2
Investments in Associates - Summary of Financial Information of Associates (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of financial statements [line items] | ||||
Assets | R$ 97842023 | R$ 83713565 | ||
Liabilities | (68,972,001) | (62,894,698) | ||
Shareholders' equity | 28,870,022 | 20,818,867 | R$ 16240481 | R$ 17969356 |
Profit (loss) for the year | 6,696,460 | 1,488,294 | R$ 2893373 | |
Tellus Brasil Participacoes S.A. [member] | ||||
Statement of financial statements [line items] | ||||
Assets | 3,296,499 | 2,137,559 | ||
Liabilities | (502,734) | (136,375) | ||
Shareholders' equity | 2,793,765 | 2,001,184 | ||
Profit (loss) for the year | 782,220 | 91,431 | ||
Janus Brasil Participacoes S.A. [member] | ||||
Statement of financial statements [line items] | ||||
Assets | 4,261,432 | 2,632,321 | ||
Liabilities | (666,361) | (160,167) | ||
Shareholders' equity | 3,595,071 | 2,472,154 | ||
Profit (loss) for the year | 1,048,514 | 97,652 | ||
Rhall Terminais Ltda | ||||
Statement of financial statements [line items] | ||||
Assets | 31,068 | |||
Liabilities | (14,708) | |||
Shareholders' equity | 16,360 | |||
Profit (loss) for the year | 4,073 | |||
Termag - Terminal Marítimo de Guarujá S.A. | ||||
Statement of financial statements [line items] | ||||
Assets | 276,284 | |||
Liabilities | (252,483) | |||
Shareholders' equity | 23,801 | |||
Profit (loss) for the year | 11,726 | |||
TGG - Terminal de Granéis do Guarujá S.A. | ||||
Statement of financial statements [line items] | ||||
Assets | 253,310 | |||
Liabilities | (76,257) | |||
Shareholders' equity | 177,053 | |||
Profit (loss) for the year | 37,150 | |||
Terminal XXXIX S.A. | ||||
Statement of financial statements [line items] | ||||
Assets | 335,511 | |||
Liabilities | (273,747) | |||
Shareholders' equity | 61,764 | |||
Profit (loss) for the year | 10,075 | |||
TUP Porto São Luis S.A. [member] | ||||
Statement of financial statements [line items] | ||||
Assets | 455,437 | |||
Liabilities | (67,523) | |||
Shareholders' equity | 387,914 | |||
Profit (loss) for the year | R$ 7410 |
Investments in Associates - S_3
Investments in Associates - Summary of Non-controlling Interests in Subsidiaries (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of financial statements [line items] | |||
Beginning balance | R$ 15558784 | ||
Interest in earnings of subsidiaries | 1,822,161 | R$ 3695493 | R$ 3836639 |
Ending balance | 14,129,085 | 15,558,784 | |
Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | 15,558,784 | 10,838,616 | |
Interest in earnings of subsidiaries | 384,320 | 628,812 | |
Sales or purchase of interests | 1,835,552 | 4,061,797 | |
Other comprehensive income | 88,086 | 119,531 | |
Dividends | (164,908) | (96,538) | |
Capital increase (decrease) | 2,252,306 | 6,666 | |
Other | 2,131,407 | (100) | |
Predecessor adjustments | (4,109,186) | ||
Ending balance | R$ 14129085 | 15,558,784 | 10,838,616 |
Compass Gás e Energia [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 714,190,095 | ||
Shares held by non-controlling shareholders | 85,702,404 | ||
Non-controlling interest | 12.00% | ||
Compass Gás e Energia [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | R$ 32880 | ||
Interest in earnings of subsidiaries | 74,390 | 7,848 | |
Sales or purchase of interests | 1,505,311 | 30,431 | |
Other comprehensive income | 7,698 | 552 | |
Dividends | (97,187) | (5,986) | |
Capital increase (decrease) | 2,250,015 | ||
Other | 1,053 | 35 | |
Predecessor adjustments | |||
Ending balance | R$ 761432 | 32,880 | |
Comgas [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 132,520,587 | ||
Shares held by non-controlling shareholders | 1,139,210 | ||
Non-controlling interest | 0.86% | ||
Comgas [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | R$ 24729 | 24,569 | |
Interest in earnings of subsidiaries | 17,524 | 9,200 | |
Sales or purchase of interests | |||
Other comprehensive income | 625 | 484 | |
Dividends | (14,184) | (9,535) | |
Capital increase (decrease) | |||
Other | 228 | 11 | |
Predecessor adjustments | |||
Ending balance | R$ 28466 | 24,729 | 24,569 |
Cosan Lubes [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% | ||
Payly [Member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 78,527,201 | ||
Shares held by non-controlling shareholders | 19,631,324 | ||
Non-controlling interest | 25.00% | ||
Rumo S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 1,854,158,791 | ||
Shares held by non-controlling shareholders | 1,291,629,301 | ||
Non-controlling interest | 69.65% | ||
Cosan Limited Partners Brasil Consultoria Ltda [Member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 160,000 | ||
Shares held by non-controlling shareholders | 4,000 | ||
Non-controlling interest | 2.50% | ||
Sinlog Tecnologia em Logistica SA [Member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 86,370 | ||
Shares held by non-controlling shareholders | 23,967 | ||
Non-controlling interest | 27.75% | ||
TTA [Member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 10,521 | ||
Shares held by non-controlling shareholders | |||
Non-controlling interest | |||
Radar II Propriedades Agricolas S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 81,440,221 | ||
Shares held by non-controlling shareholders | 40,720,111 | ||
Non-controlling interest | 50.00% | ||
Radar Propriedades Agricolas S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 1,266,986 | ||
Shares held by non-controlling shareholders | 633,493 | ||
Non-controlling interest | 50.00% | ||
Nova Agrícola Ponte Alta S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 160,693,378 | ||
Shares held by non-controlling shareholders | 80,346,689 | ||
Non-controlling interest | 50.00% | ||
Terras da Ponta Alta S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 16,066,329 | ||
Shares held by non-controlling shareholders | 8,033,165 | ||
Non-controlling interest | 50.00% | ||
Nova Santa Bárbara Agrícola S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 32,336,994 | ||
Shares held by non-controlling shareholders | 16,168,497 | ||
Non-controlling interest | 50.00% | ||
Nova Amaralina S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 30,603,159 | ||
Shares held by non-controlling shareholders | 15,301,580 | ||
Non-controlling interest | 50.00% | ||
Paineira Propriedades Agrícolas S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 132,667,061 | ||
Shares held by non-controlling shareholders | 66,333,531 | ||
Non-controlling interest | 50.00% | ||
Manacá Propriedades Agrícolas S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 128,977,921 | ||
Shares held by non-controlling shareholders | 64,488,961 | ||
Non-controlling interest | 50.00% | ||
Castanheira Propriedades Agrícolas S.A. [member] | |||
Statement of financial statements [line items] | |||
Shares issued by the subsidiary | 83,850,838 | ||
Shares held by non-controlling shareholders | 41,925,419 | ||
Non-controlling interest | 50.00% | ||
Cosan S.A. [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | R$ 3492829 | 3,604,875 | |
Interest in earnings of subsidiaries | 69,890 | 336,885 | |
Sales or purchase of interests | (407,177) | ||
Other comprehensive income | 115,049 | 28,573 | |
Dividends | (68,120) | ||
Capital increase (decrease) | |||
Other | 1,023 | (2,207) | |
Predecessor adjustments | (3,448,693) | ||
Ending balance | 3,492,829 | 3,604,875 | |
Cosan Logistica [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | 658,158 | 630,185 | |
Interest in earnings of subsidiaries | 4,898 | 12,966 | |
Sales or purchase of interests | 14,006 | ||
Other comprehensive income | 358 | 1,006 | |
Dividends | (5) | ||
Capital increase (decrease) | |||
Other | |||
Predecessor adjustments | (663,414) | ||
Ending balance | 658,158 | 630,185 | |
CLI [Member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | 582,284 | 470,498 | |
Interest in earnings of subsidiaries | 87,823 | 44,816 | |
Sales or purchase of interests | |||
Other comprehensive income | 13,037 | 66,970 | |
Dividends | |||
Capital increase (decrease) | |||
Other | |||
Predecessor adjustments | |||
Ending balance | 683,144 | 582,284 | 470,498 |
Rumo [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | 10,709,017 | 6,058,973 | |
Interest in earnings of subsidiaries | 107,690 | 212,463 | |
Sales or purchase of interests | 318,323 | 4,424,537 | |
Other comprehensive income | 5,358 | 15,786 | |
Dividends | (27,989) | (2,742) | |
Capital increase (decrease) | |||
Other | (15,748) | ||
Predecessor adjustments | 2,570 | ||
Ending balance | 10,494,071 | 10,709,017 | 6,058,973 |
Logispot Armazens Gerais S A [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | 35,513 | 34,218 | |
Interest in earnings of subsidiaries | 2,225 | 1,879 | |
Sales or purchase of interests | |||
Other comprehensive income | |||
Dividends | (4,032) | (584) | |
Capital increase (decrease) | |||
Other | |||
Predecessor adjustments | |||
Ending balance | 33,706 | 35,513 | 34,218 |
Radar [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | |||
Interest in earnings of subsidiaries | 22,502 | ||
Sales or purchase of interests | |||
Other comprehensive income | 900 | ||
Dividends | (19,854) | ||
Capital increase (decrease) | |||
Other | 54 | ||
Predecessor adjustments | |||
Ending balance | 2,119,102 | ||
Other investments [member] | Subsidiaries [member] | |||
Statement of financial statements [line items] | |||
Beginning balance | 23,374 | 15,298 | |
Interest in earnings of subsidiaries | 2,622 | 2,755 | |
Sales or purchase of interests | 11,918 | ||
Other comprehensive income | 1,013 | 6,160 | |
Dividends | (1,662) | (9,566) | |
Capital increase (decrease) | 2,291 | 6,666 | |
Other | 363 | 2,061 | |
Predecessor adjustments | 351 | ||
Ending balance | R$ 9164 | R$ 23374 | R$ 15298 |
Investments in Associates - S_4
Investments in Associates - Summary of Financial Position (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Current | ||||
Assets | R$ 27293183 | R$ 23434868 | ||
Liabilities | (12,957,036) | (12,546,994) | ||
Net current assets | (14,336,147) | (10,887,874) | ||
Non-current | ||||
Assets | 70,548,840 | 60,278,697 | ||
Liabilities | (56,014,965) | (50,347,704) | ||
Total shareholders' equity | 28,870,022 | 20,818,867 | R$ 16240481 | R$ 17969356 |
Compass Gás e Energia [member] | ||||
Current | ||||
Assets | 1,929,639 | 402,007 | ||
Liabilities | (28,374) | (25,404) | ||
Net current assets | 1,901,265 | 376,603 | ||
Non-current | ||||
Assets | 4,453,679 | 2,944,593 | ||
Liabilities | (10,296) | |||
Net non-current assets | 4,443,383 | 2,944,593 | ||
Total shareholders' equity | 6,344,648 | 3,321,196 | ||
Comgas [member] | ||||
Current | ||||
Assets | 4,148,735 | 4,225,788 | ||
Liabilities | (4,538,385) | (3,610,144) | ||
Net current assets | (389,650) | 615,644 | ||
Non-current | ||||
Assets | 8,122,763 | 6,391,096 | ||
Liabilities | (6,627,895) | (6,416,687) | ||
Net non-current assets | 1,494,868 | (25,591) | ||
Total shareholders' equity | 1,105,218 | 590,035 | ||
CLI [Member] | ||||
Current | ||||
Assets | 1,327,472 | 1,047,938 | ||
Liabilities | (755,995) | (616,427) | ||
Net current assets | 571,477 | 431,511 | ||
Non-current | ||||
Assets | 1,946,181 | 1,893,901 | ||
Liabilities | (229,802) | (360,077) | ||
Net non-current assets | 1,716,379 | 1,533,824 | ||
Total shareholders' equity | 2,287,856 | 1,965,335 | ||
Rumo S.A. [member] | ||||
Current | ||||
Assets | 1,161,027 | 1,996,914 | ||
Liabilities | (760,522) | (841,519) | ||
Net current assets | 400,505 | 1,155,395 | ||
Non-current | ||||
Assets | 21,568,088 | 19,624,672 | ||
Liabilities | (7,173,172) | (5,796,462) | ||
Net non-current assets | 14,394,916 | 13,828,210 | ||
Total shareholders' equity | 14,795,421 | 14,983,605 | ||
Cosan Investimentos [member] | ||||
Current | ||||
Assets | 147,662 | |||
Liabilities | (50,038) | |||
Net current assets | 97,624 | |||
Non-current | ||||
Assets | 4,337,142 | |||
Liabilities | (196,562) | |||
Net non-current assets | 4,140,580 | |||
Total shareholders' equity | R$ 4238204 |
Investments in Associates - S_5
Investments in Associates - Summary of Profit or Loss and Other Comprehensive Income (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of financial statements [line items] | |||
Net sales | R$ 25865001 | R$ 20437835 | R$ 20611409 |
Profit before taxes | 6,250,876 | 1,990,961 | 3,661,948 |
Income tax expenses | 445,584 | (502,667) | (779,596) |
Profit for the year | 6,696,460 | 1,488,294 | 2,893,373 |
Other comprehensive income (loss) | (467,466) | (605,401) | (310,218) |
Total comprehensive income for the year | 6,228,994 | 882,893 | 2,583,155 |
Comprehensive income attributable to non-controlling interests | 296,234 | 741,967 | 1,485,112 |
Dividends paid | 2,031,301 | 1,514,114 | 243,317 |
Compass Gás e Energia [member] | |||
Statement of financial statements [line items] | |||
Net sales | |||
Profit before taxes | 1,710,947 | 920,426 | (2,614) |
Income tax expenses | 14,164 | 10,839 | 889 |
Profit for the year | 1,725,111 | 931,265 | (1,725) |
Other comprehensive income (loss) | |||
Total comprehensive income for the year | 1,725,111 | 931,265 | (1,725) |
Comprehensive income attributable to non-controlling interests | 207,012 | 9,220 | |
Dividends paid | 982,752 | 600,000 | |
Comgas [member] | |||
Statement of financial statements [line items] | |||
Net sales | 11,709,713 | 8,317,691 | 9,514,222 |
Profit before taxes | 2,274,269 | 1,719,877 | 1,993,963 |
Income tax expenses | (155,148) | (569,264) | (626,784) |
Profit for the year | 2,119,121 | 1,150,613 | 1,367,179 |
Other comprehensive income (loss) | |||
Total comprehensive income for the year | 2,119,121 | 1,150,613 | 1,367,179 |
Comprehensive income attributable to non-controlling interests | 18,217 | 9,762 | 10,967 |
Dividends paid | 1,649,653 | 1,135,669 | 2,010,101 |
CLI [Member] | |||
Statement of financial statements [line items] | |||
Net sales | 2,608,680 | 1,911,541 | 1,746,727 |
Profit before taxes | 310,500 | 150,930 | 74,982 |
Income tax expenses | (15,742) | (1,484) | (15,175) |
Profit for the year | 294,758 | 149,446 | 59,807 |
Other comprehensive income (loss) | |||
Total comprehensive income for the year | 294,758 | 149,446 | 59,807 |
Comprehensive income attributable to non-controlling interests | 88,427 | 44,834 | 17,942 |
Dividends paid | |||
Rumo S.A. [member] | |||
Statement of financial statements [line items] | |||
Net sales | 772,714 | 950,269 | 596,415 |
Profit before taxes | 198,239 | 349,300 | 779,228 |
Income tax expenses | (47,701) | (52,137) | (991) |
Profit for the year | 150,538 | 297,163 | 778,237 |
Other comprehensive income (loss) | 2,716 | ||
Total comprehensive income for the year | 150,538 | 297,163 | 780,953 |
Comprehensive income attributable to non-controlling interests | 104,850 | 212,561 | 558,616 |
Dividends paid | 4,233 | ||
Cosan Investimentos [member] | |||
Statement of financial statements [line items] | |||
Net sales | 31,502 | ||
Profit before taxes | 49,218 | ||
Income tax expenses | (4,215) | ||
Profit for the year | 45,003 | ||
Other comprehensive income (loss) | |||
Total comprehensive income for the year | 45,003 | ||
Comprehensive income attributable to non-controlling interests | 22,502 | ||
Dividends paid |
Investments in Associates - S_6
Investments in Associates - Summary of Cash Flows (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of subsidiaries [line items] | |||
Net increase in cash and cash equivalents | R$ 2019747 | R$ 4820036 | R$ 4607769 |
Effect of exchange rate fluctuations on cash held | 511,465 | 350,608 | 242,707 |
Cash and cash equivalents at beginning of year | 13,642,918 | 8,472,274 | 3,621,798 |
Cash and cash equivalents at end of year | 16,174,130 | 13,642,918 | 8,472,274 |
Compass Gás e Energia [member] | |||
Disclosure of subsidiaries [line items] | |||
Net cash (used in) from operating activities | (44,974) | (18,046) | |
Net cash from (used in) investing activities | (26,764) | 776,872 | |
Net cash (used in) from financing activities | 1,265,679 | (525,030) | |
Net increase in cash and cash equivalents | 1,193,941 | 233,796 | |
Effect of exchange rate fluctuations on cash held | (13,898) | (982) | |
Cash and cash equivalents at beginning of year | 232,819 | 5 | 5 |
Cash and cash equivalents at end of year | 1,412,862 | 232,819 | 5 |
Comgas [member] | |||
Disclosure of subsidiaries [line items] | |||
Net cash (used in) from operating activities | 2,539,222 | 2,111,551 | 2,512,303 |
Net cash from (used in) investing activities | (1,025,104) | (1,768,298) | 202,037 |
Net cash (used in) from financing activities | (2,202,275) | 198,890 | (2,233,548) |
Net increase in cash and cash equivalents | (688,157) | 542,143 | 480,792 |
Effect of exchange rate fluctuations on cash held | (30,741) | (15,005) | |
Cash and cash equivalents at beginning of year | 1,610,548 | 1,083,410 | 602,618 |
Cash and cash equivalents at end of year | 891,650 | 1,610,548 | 1,083,410 |
CLI [Member] | |||
Disclosure of subsidiaries [line items] | |||
Net cash (used in) from operating activities | 95,461 | 71,654 | 82,946 |
Net cash from (used in) investing activities | 77,742 | (38,910) | (10,140) |
Net cash (used in) from financing activities | (13,766) | 14,874 | 291,898 |
Net increase in cash and cash equivalents | 159,437 | 47,618 | 364,704 |
Effect of exchange rate fluctuations on cash held | 109,642 | 125,268 | (44,971) |
Cash and cash equivalents at beginning of year | 492,619 | 319,733 | |
Cash and cash equivalents at end of year | 761,698 | 492,619 | 319,733 |
Rumo S.A. [member] | |||
Disclosure of subsidiaries [line items] | |||
Net cash (used in) from operating activities | (15,679) | 463,170 | 197,313 |
Net cash from (used in) investing activities | (1,469,750) | (6,632,353) | (929,861) |
Net cash (used in) from financing activities | 714,115 | 7,037,144 | 1,432,659 |
Net increase in cash and cash equivalents | (771,314) | 867,961 | 700,111 |
Effect of exchange rate fluctuations on cash held | (5,551) | ||
Cash and cash equivalents at beginning of year | 1,568,667 | 700,706 | 595 |
Cash and cash equivalents at end of year | 791,802 | 1,568,667 | 700,706 |
Cosan Investimentos [member] | |||
Disclosure of subsidiaries [line items] | |||
Net cash (used in) from operating activities | 21,690 | ||
Net cash from (used in) investing activities | 49,227 | ||
Net cash (used in) from financing activities | (15,650) | ||
Net increase in cash and cash equivalents | 55,267 | ||
Effect of exchange rate fluctuations on cash held | |||
Cash and cash equivalents at beginning of year | |||
Cash and cash equivalents at end of year | R$ 55267 |
Investments in Associates - Acq
Investments in Associates - Acquisition of subsidiaries - Schedule of acquired entities as group acquisition (Details 1) | Nov. 03, 2021 | Nov. 02, 2021 |
Radar group acquisition | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 47.00% | |
Final interest | 50.00% | 3.00% |
Radar Propriedades Agricolas S.A. [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Acquired name | Radar Propriedades Agrícolas S.A. | |
Final interest | 50.00% | |
Radar Propriedades Agricolas S.A. [member] | Direct | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 38.94% | |
Radar Propriedades Agricolas S.A. [member] | Indirect | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 8.06% | |
Radar II Propriedades Agricolas S.A. [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Acquired name | Radar II Propriedades Agrícolas S.A. | |
Final interest | 50.00% | |
Radar II Propriedades Agricolas S.A. [member] | Direct | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 47.00% | |
Radar II Propriedades Agricolas S.A. [member] | Indirect | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | ||
Nova Agrícola Ponte Alta S.A. [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Acquired name | Nova Agrícola Ponte Alta S.A. | |
Final interest | 50.00% | |
Nova Agrícola Ponte Alta S.A. [member] | Direct | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 38.94% | |
Nova Agrícola Ponte Alta S.A. [member] | Indirect | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 8.06% | |
Nova Amaralina S.A Propriedades Agrícolas [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Acquired name | Nova Amaralina S.A Propriedades Agrícolas | |
Final interest | 50.00% | |
Nova Amaralina S.A Propriedades Agrícolas [member] | Direct | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 38.94% | |
Nova Amaralina S.A Propriedades Agrícolas [member] | Indirect | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 8.06% | |
Nova Santa Bárbara Agrícola S.A. [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Acquired name | Nova Santa Bárbara Agrícola S.A. | |
Final interest | 50.00% | |
Nova Santa Bárbara Agrícola S.A. [member] | Direct | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 38.94% | |
Nova Santa Bárbara Agrícola S.A. [member] | Indirect | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 8.06% | |
Terras da Ponta Alta S.A. [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Acquired name | Terras da Ponta Alta S.A. | |
Final interest | 50.00% | |
Terras da Ponta Alta S.A. [member] | Direct | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 38.94% | |
Terras da Ponta Alta S.A. [member] | Indirect | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 8.06% | |
Castanheira Propriedades Agrícolas S.A. [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Acquired name | Castanheira Propriedades Agrícolas S.A. | |
Final interest | 50.00% | |
Castanheira Propriedades Agrícolas S.A. [member] | Direct | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 38.94% | |
Castanheira Propriedades Agrícolas S.A. [member] | Indirect | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 8.06% | |
Manacá Propriedades Agrícolas S.A. [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Acquired name | Manacá Propriedades Agrícolas S.A. | |
Final interest | 50.00% | |
Manacá Propriedades Agrícolas S.A. [member] | Direct | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 38.94% | |
Manacá Propriedades Agrícolas S.A. [member] | Indirect | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 8.06% | |
Paineira Propriedades Agrícolas S.A. [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Acquired name | Paineira Propriedades Agrícolas S.A. | |
Final interest | 50.00% | |
Paineira Propriedades Agrícolas S.A. [member] | Direct | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 38.94% | |
Paineira Propriedades Agrícolas S.A. [member] | Indirect | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of share capital acquired | 8.06% |
Investments in Associates - A_2
Investments in Associates - Acquisition of subsidiaries - Schedule of non-controlling interest in acquiree through business combination (Details 2) - Radar group acquisition R$ in Thousands | Nov. 03, 2021BRL (R$) |
Disclosure of detailed information about business combination [line items] | |
Shareholders' equity attributable to non-controlling interests | R$ 2115554 |
Mansilla Participações Ltda. | |
Disclosure of detailed information about business combination [line items] | |
Interest | 50.00% |
Shareholders' equity attributable to non-controlling interests | R$ 2115554 |
Investments in Associates - A_3
Investments in Associates - Acquisition of subsidiaries (Details 3) - Radar group acquisition R$ in Thousands | Nov. 03, 2021BRL (R$) |
The fair value of the assets and liabilities acquired is as follows: | |
Cash and cash equivalents | R$ 9123 |
Marketable securities | 38,675 |
Accounts receivable from customers | 194,715 |
Receivables from related parties | 16,780 |
Taxes to recover | 1,083 |
Other assets | 1,099 |
Deferred income tax and social contribution | 44 |
Judicial deposits | 279 |
Other financial assets | 318,445 |
Investment properties | 3,875,752 |
Fixed assets | 33 |
Right of use | 3,240 |
Trade payable | (992) |
Taxes payable | (11,443) |
Related parts | (2,504) |
Lease | (3,281) |
Advance from customers | (41) |
Other obligations | (16,738) |
Deferred income tax and social contribution | (192,883) |
Provision for contingencies | (279) |
Total identifiable assets, net | R$ 4231107 |
Investments in Associates - A_4
Investments in Associates - Acquisition of subsidiaries (Details 4) - BRL (R$) R$ in Thousands | Nov. 03, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about business combination [line items] | ||||
Earned by bargain purchase | R$ 416268 | |||
Radar group acquisition | ||||
Disclosure of detailed information about business combination [line items] | ||||
Transferred consideration | R$ 1572352 | |||
Non-controlling interest measured at fair value | 2,115,554 | |||
Fair value of Radar's Group pre-existing interest | 126,933 | |||
Total net identifiable assets at fair value | (4,231,107) | |||
Earned by bargain purchase | R$ 416268 |
Investments in Associates - A_5
Investments in Associates - Acquisition of subsidiaries (Detail) - BRL (R$) R$ in Thousands | Jul. 17, 2020 | Jan. 30, 2020 | Dec. 31, 2020 | |
Compass group acquisition | ||||
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$ 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: | ||||
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 | R$ 9244777 | |||
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] | ||||
Name of the acquiree | Compass Comercializadora de Energia Ltda. | |||
Description of the operation | Natural gas and electricity trading | |||
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] | ||||
Name of the acquiree | Compass Geração Ltda. | |||
Description of the operation | Natural gas and electricity trading | |||
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] | ||||
Name of the acquiree | Compass Energia Ltda. | |||
Description of the operation | No operation | |||
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] | ||||
Name of the acquiree | Black River Participações Ltda. | |||
Description of the operation | No operation | |||
[1] | On July 17, 2020, the Compass 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 Associates - A_6
Investments in Associates - Acquisition of subsidiaries (Details 1) R$ in Thousands | Jan. 30, 2020BRL (R$) |
Compass group acquisition | |
Disclosure of detailed information about business combination [line items] | |
Fair value | R$ 94892 |
Investments in Associates - Add
Investments in Associates - Additional information (Detail) R$ in Thousands | Nov. 03, 2021BRL (R$) | Aug. 03, 2021 | Dec. 31, 2021BRL (R$) | Aug. 31, 2021BRL (R$) |
Disclosure of detailed information about business combination [line items] | ||||
Unsecured liability | R$ 356442 | |||
Radar group acquisition | ||||
Disclosure of detailed information about business combination [line items] | ||||
Percentage of voting equity interests acquired | 47.00% | |||
Acquisition consideration price | R$ 1572352 | |||
Principal amount of consideration transferred | 1,479,404 | |||
Adjustment amount of the installments by the IPCA for consideration transferred | 92,948 | |||
Number of installments for payment of consideration | 4 | |||
Payment of first installment in business combination | 601,856 | |||
Annual installments amount in business combination | 295,881 | |||
Consolidated shareholders' equity of the acquired entity | 4,231,107 | |||
Revenue of acquiree since the acquisition date | 31,502 | |||
Income before taxes of acquiree since the acquisition date | 49,218 | |||
Revenue of combined entity | 26,179,637 | |||
Profit (loss) of combined entity as if combination occurred at beginning of period | R$ 8424096 | |||
Compass Gás e Energia [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Contributions to subsidiary | 2,250,015 | |||
Provisions | R$ 0 | |||
Moove Lubricants Limited [member] | TTA [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Cash transferred | R$ 32030 | |||
Percentage of voting equity interests acquired | 25.00% |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of joint ventures [line items] | ||||
Beginning balance | R$ 7988208 | |||
Interest in earnings of joint ventures | 4,590,631 | R$ 583001 | R$ 1131406 | |
Ending balance | R$ 10936663 | 7,988,208 | ||
Reorganization [Member] | ||||
Disclosure of joint ventures [line items] | ||||
Shares issued by the joint venture | 1,447,807,814 | |||
Shares held by Cosan | 105,246,282 | |||
Proportion of ownership interest in joint venture | 6.00% | |||
Beginning balance | ||||
Interest in earnings of joint ventures | 4,215,116 | [1] | ||
Other comprehensive (losses) income | (73,416) | |||
Interest on capital | (122,480) | [2] | ||
Corporate reorganization | 3,204,832 | |||
Dividends | 17,742 | [2] | ||
Ending balance | R$ 7241794 | |||
Raizen Combustiveis S A [member] | ||||
Disclosure of joint ventures [line items] | ||||
Proportion of ownership interest in joint venture | 50.00% | |||
Raizen Combustiveis S A [member] | Before Reorganization [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$ 3847506 | 3,212,601 | ||
Interest in earnings of joint ventures | 448,124 | [1] | 332,240 | |
Other comprehensive (losses) income | 215,787 | 376,053 | ||
Interest on capital | (100,318) | [2] | (73,388) | |
Corporate reorganization | ||||
Dividends | (716,230) | [2] | ||
Ending balance | R$ 3694869 | 3,847,506 | 3,212,601 | |
Raizen Energia S A [member] | Before Reorganization [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$ 4140702 | 4,336,359 | ||
Interest in earnings of joint ventures | (72,609) | [1] | 250,761 | |
Other comprehensive (losses) income | (491,548) | (446,001) | ||
Interest on capital | [2] | |||
Corporate reorganization | (3,204,832) | |||
Dividends | (371,713) | [2] | (417) | |
Ending balance | 4,140,702 | 4,336,359 | ||
Raizen S A [Member] | ||||
Disclosure of joint ventures [line items] | ||||
Shares issued by the joint venture | 10,352,509,484 | |||
Shares held by Cosan | 4,557,597,117 | |||
Proportion of ownership interest in joint venture | 44.02% | |||
Beginning balance | R$ 7988208 | 7,548,960 | ||
Interest in earnings of joint ventures | 4,590,631 | [1] | 583,001 | |
Other comprehensive (losses) income | (349,177) | (69,948) | ||
Interest on capital | (222,798) | [2] | (73,388) | |
Corporate reorganization | ||||
Dividends | (1,070,201) | [2] | (417) | |
Ending balance | R$ 10936663 | R$ 7988208 | R$ 7548960 | |
[1] | As disclosed in Note 2 , the conclusion of Raízen's IPO and the acquisition of Biosev resulted in two capitalizations in Raízen's equity of R$ 6,599,987 and R$ 2,347,281 , respectively. Such capitalizations resulted in a dilution of Cosan S.A.'s interest in Raízen without the loss of shared control, keeping the investment classified as a joint venture. The following are the gains and losses recognized for the period: | |||
[2] | Proposed amount in the period, of which R$ 819,729 were paid. |
Investments in Joint Ventures_2
Investments in Joint Ventures - Additional Information (Detail) - BRL (R$) R$ in Thousands | Sep. 09, 2021 | Aug. 10, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of joint ventures [line items] | ||||||
Profit for the year under the equity method | R$ 6696460 | R$ 1488294 | R$ 2893373 | |||
Interest in earnings of joint ventures | 4,590,631 | 583,001 | 1,131,406 | |||
Dividends received from joint ventures | 819,729 | R$ 1852 | R$ 1462625 | |||
Credit facility unused | R$ 350000 | |||||
Raizen Combustiveis S A [member] | ||||||
Disclosure of joint ventures [line items] | ||||||
Ownership interest percentage in joint venture | 50.00% | |||||
Raizen [Member] | ||||||
Disclosure of joint ventures [line items] | ||||||
Net amount | R$ 6599987 | |||||
Reduction on previously held interest | R$ 896817 | |||||
Increase in investment due to cash contribution by non-controlling shareholders in the IPO | 2,929,872 | |||||
Exercise of subscription bonus - Hédera | 1,043,347 | |||||
Other comprehensive income | [1] | (82,243) | ||||
Gain on dilution | 2,994,159 | |||||
Profit for the year under the equity method | 1,596,472 | |||||
Interest in earnings of joint ventures | R$ 4590631 | |||||
Biosev [Member] | ||||||
Disclosure of joint ventures [line items] | ||||||
Subscription bonus net of market value adjustment | R$ 2347281 | |||||
[1] | Reclassification as part of the partial disposal. |
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 | Jun. 16, 2021 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about intangible assets [line items] | |||
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 | ||
Cash-generating units [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Assumptions used in discounted cash flow projections, period of long term growth | 10 years | ||
Rumo [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Capitalized borrowing costs | R$ 70609 | R$ 34107 | |
Weighted average interest rate used to capitalize borrowing costs | 11.81% | 8.40% | |
Additions | R$ 184100 | ||
TRSP [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Capitalized borrowing costs | R$ 7512 | ||
Weighted average interest rate used to capitalize borrowing costs | 2.78% | ||
Compass Gás e Energia [member] | Contract assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Capitalized borrowing costs | R$ 33829 | R$ 36522 | |
Weighted average interest rate used to capitalize borrowing costs | 8.45% | 7.40% | |
Rumo 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 |
Property, plant and equipment_4
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, 2021 | |
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] | Other [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 easement [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] | Other [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 easement [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_5
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, 2021 | Dec. 31, 2020 | ||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | R$ 14068506 | ||||
Ending balance | 16,648,553 | R$ 14068506 | |||
Cost [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 20,438,299 | 17,018,401 | |||
Business Combination (note 9.3) | 41 | ||||
Additions | 3,871,139 | 3,326,796 | |||
Disposals | (247,035) | (122,177) | |||
Transfers | [1] | 76,461 | 144,787 | ||
Effect of exchange rate fluctuations | 17,159 | 70,492 | |||
Ending balance | 24,156,064 | 20,438,299 | |||
Depreciation and Amortization [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (6,369,793) | (4,865,265) | |||
Additions | (1,407,784) | (1,319,135) | |||
Disposals | 234,219 | 112,517 | |||
Transfers | [1] | 44,772 | (121,417) | ||
Impairment | (143,018) | ||||
Effect of exchange rate fluctuations | (8,925) | (33,475) | |||
Ending balance | (7,507,511) | (6,369,793) | |||
Land, buildings and improvements [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 1,069,871 | ||||
Ending balance | 1,382,547 | 1,069,871 | |||
Land, buildings and improvements [member] | Cost [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 1,577,244 | 1,186,365 | |||
Business Combination (note 9.3) | |||||
Additions | 1,481 | 125 | |||
Disposals | (81) | (576) | |||
Transfers | [1] | 416,859 | 370,302 | ||
Effect of exchange rate fluctuations | 5,662 | 21,028 | |||
Ending balance | 2,001,165 | 1,577,244 | |||
Land, buildings and improvements [member] | Depreciation and Amortization [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (507,373) | (360,434) | |||
Additions | (91,631) | (60,907) | |||
Disposals | 3,922 | 7 | |||
Transfers | [1] | (20,891) | (75,174) | ||
Impairment | (2,811) | ||||
Effect of exchange rate fluctuations | (2,645) | (8,054) | |||
Ending balance | (618,618) | (507,373) | |||
Machinery, equipment and facilities [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 724,822 | ||||
Ending balance | 1,092,072 | 724,822 | |||
Machinery, equipment and facilities [member] | Cost [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 1,457,234 | 1,163,862 | |||
Business Combination (note 9.3) | |||||
Additions | 7,678 | 2,528 | |||
Disposals | (36,189) | (2,113) | |||
Transfers | [1] | 538,179 | 261,705 | ||
Effect of exchange rate fluctuations | 7,712 | 31,252 | |||
Ending balance | 1,974,614 | 1,457,234 | |||
Machinery, equipment and facilities [member] | Depreciation and Amortization [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (732,412) | (532,019) | |||
Additions | (202,154) | (138,579) | |||
Disposals | 35,165 | 1,188 | |||
Transfers | [1] | 21,190 | (38,107) | ||
Impairment | (8,898) | ||||
Effect of exchange rate fluctuations | (4,331) | (15,997) | |||
Ending balance | (882,542) | (732,412) | |||
Railcars and locomotives [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | [2] | 4,239,327 | |||
Ending balance | [2] | 4,896,839 | 4,239,327 | ||
Railcars and locomotives [member] | Cost [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | [2] | 6,720,465 | 6,000,272 | ||
Business Combination (note 9.3) | [2] | ||||
Additions | [2] | 1,681 | 17,900 | ||
Disposals | (123,980) | [2] | (94,689) | ||
Transfers | [1],[2] | 1,140,723 | 796,982 | ||
Effect of exchange rate fluctuations | [2] | ||||
Ending balance | [2] | 7,738,889 | 6,720,465 | ||
Railcars and locomotives [member] | Depreciation and Amortization [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | [2] | (2,481,138) | (1,914,789) | ||
Additions | [2] | (532,558) | (566,259) | ||
Disposals | [2] | 112,362 | 90,668 | ||
Transfers | [1],[2] | 59,284 | (59,353) | ||
Impairment | [2] | (31,405) | |||
Effect of exchange rate fluctuations | [2] | ||||
Ending balance | [2] | (2,842,050) | (2,481,138) | ||
Permanent easement [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 4,820,827 | ||||
Ending balance | 5,639,360 | 4,820,827 | |||
Permanent easement [member] | Cost [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 7,371,126 | 6,724,322 | |||
Business Combination (note 9.3) | |||||
Additions | 6,501 | 1,193 | |||
Disposals | (758) | ||||
Transfers | [1] | 1,378,132 | 645,611 | ||
Effect of exchange rate fluctuations | |||||
Ending balance | 8,755,001 | 7,371,126 | |||
Permanent easement [member] | Depreciation and Amortization [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (2,550,299) | (2,020,767) | |||
Additions | (550,969) | (517,033) | |||
Disposals | 196 | ||||
Transfers | [1] | (14,569) | 67,841 | ||
Impairment | (80,340) | ||||
Effect of exchange rate fluctuations | |||||
Ending balance | (3,115,641) | (2,550,299) | |||
Construction in progress [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 2,790,795 | ||||
Ending balance | 3,231,274 | 2,790,795 | |||
Construction in progress [member] | Cost [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 2,804,174 | 1,509,025 | |||
Business Combination (note 9.3) | |||||
Additions | 3,852,472 | 3,303,937 | |||
Disposals | (506) | ||||
Transfers | [1] | (3,412,132) | (2,008,901) | ||
Effect of exchange rate fluctuations | 139 | 619 | |||
Ending balance | 3,244,653 | 2,804,174 | |||
Construction in progress [member] | Depreciation and Amortization [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (13,379) | (6,870) | |||
Additions | (2,048) | ||||
Disposals | |||||
Transfers | 2,795 | [1] | |||
Impairment | (7,256) | ||||
Effect of exchange rate fluctuations | |||||
Ending balance | (13,379) | (13,379) | |||
Other [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 422,864 | ||||
Ending balance | 406,461 | 422,864 | |||
Other [member] | Cost [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | 508,056 | 434,555 | |||
Business Combination (note 9.3) | 41 | ||||
Additions | 1,326 | 1,113 | |||
Disposals | (86,027) | (24,293) | |||
Transfers | [1] | 14,700 | 79,088 | ||
Effect of exchange rate fluctuations | 3,646 | 17,593 | |||
Ending balance | 441,742 | 508,056 | |||
Other [member] | Depreciation and Amortization [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Beginning balance | (85,192) | (30,386) | |||
Additions | (30,472) | (34,309) | |||
Disposals | 82,574 | 20,654 | |||
Transfers | [1] | (242) | (19,419) | ||
Impairment | (12,308) | ||||
Effect of exchange rate fluctuations | (1,949) | (9,424) | |||
Ending balance | R$ 35281 | R$ 85192 | |||
[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, 2021, and 2020, wagons and locomotives in the amount of R$745,203 were pledged to guarantee bank loans. |
Property, plant and equipment_6
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Schedule of Property Plant and Equipment (Parenthetical) (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
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_7
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, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | R$ 17308439 | |
Ending balance | 17,781,498 | R$ 17308439 |
Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 22,046,411 | 20,627,829 |
Additions | 219,050 | 137,199 |
Disposals | (173,229) | (94,892) |
Transfers | 1,165,352 | (61,047) |
Effect of exchange rate fluctuations | 50,699 | 1,066,533 |
Discontinued operation | 181,005 | |
Ending balance | 23,308,283 | 22,046,411 |
Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (4,737,972) | (3,784,170) |
Additions | (755,633) | (677,024) |
Disposals | 156,178 | 21,958 |
Transfers | (179,007) | (275,904) |
Effect of exchange rate fluctuations | (10,351) | (22,832) |
Ending balance | (5,526,785) | (4,737,972) |
Goodwill [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 1,088,720 | |
Ending balance | 1,132,817 | 1,088,720 |
Goodwill [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 1,088,720 | 904,977 |
Additions | 24,696 | 8,167 |
Disposals | (224) | (94,892) |
Transfers | ||
Effect of exchange rate fluctuations | 19,625 | |
Discontinued operation | 80,684 | |
Ending balance | 1,132,817 | 1,088,720 |
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 | ||
Ending balance | ||
Concession rights [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 15,318,664 | |
Ending balance | 15,706,265 | 15,318,664 |
Concession rights [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 18,676,443 | 18,024,518 |
Additions | 765 | 5,227 |
Disposals | (169,815) | |
Transfers | 1,109,131 | (48,442) |
Effect of exchange rate fluctuations | 695,140 | |
Discontinued operation | ||
Ending balance | 19,616,524 | 18,676,443 |
Concession rights [member] | Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (3,357,779) | (2,884,699) |
Additions | (588,411) | (490,100) |
Disposals | 152,236 | 17,030 |
Transfers | (116,305) | (10) |
Effect of exchange rate fluctuations | ||
Ending balance | (3,910,259) | (3,357,779) |
Operating license [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 187,899 | |
Ending balance | 211,895 | 187,899 |
Operating license [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 435,795 | 435,795 |
Additions | 35,834 | |
Disposals | ||
Transfers | (92,447) | |
Effect of exchange rate fluctuations | ||
Discontinued operation | ||
Ending balance | 379,182 | 435,795 |
Operating license [member] | Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (247,896) | (236,122) |
Additions | (11,838) | (11,774) |
Disposals | ||
Transfers | 92,447 | |
Effect of exchange rate fluctuations | ||
Ending balance | (167,287) | (247,896) |
Trademarks [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 54,207 | |
Ending balance | 57,439 | 54,207 |
Trademarks [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 54,207 | 46,170 |
Additions | ||
Disposals | ||
Transfers | 9,201 | |
Effect of exchange rate fluctuations | 3,232 | (5,504) |
Discontinued operation | 13,541 | |
Ending balance | 66,640 | 54,207 |
Trademarks [member] | Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (9,201) | |
Additions | ||
Disposals | ||
Transfers | (9,201) | 9,201 |
Effect of exchange rate fluctuations | ||
Ending balance | (9,201) | |
Customer-related intangible assets [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 519,915 | |
Ending balance | 575,459 | 519,915 |
Customer-related intangible assets [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 1,424,947 | 829,091 |
Additions | 155,469 | 111,656 |
Disposals | (44) | |
Transfers | (786) | (131) |
Effect of exchange rate fluctuations | 24,481 | 408,470 |
Discontinued operation | 75,861 | |
Ending balance | 1,604,067 | 1,424,947 |
Customer-related intangible assets [member] | Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (905,032) | (410,449) |
Additions | (116,860) | (86,162) |
Disposals | 114 | 111 |
Transfers | 533 | (390,554) |
Effect of exchange rate fluctuations | (7,363) | (17,978) |
Ending balance | (1,028,608) | (905,032) |
Other [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 139,034 | |
Ending balance | 97,623 | 139,034 |
Other [member] | Cost [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | 366,299 | 387,278 |
Additions | 2,286 | 12,149 |
Disposals | (3,146) | |
Transfers | 140,253 | (12,474) |
Effect of exchange rate fluctuations | 3,361 | (31,573) |
Discontinued operation | 10,919 | |
Ending balance | 509,053 | 366,299 |
Other [member] | Depreciation and Amortization [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning balance | (227,265) | (243,699) |
Additions | (38,524) | (88,988) |
Disposals | 3,828 | 4,817 |
Transfers | (146,481) | 105,459 |
Effect of exchange rate fluctuations | (2,988) | (4,854) |
Ending balance | R$ 411430 | R$ 227265 |
Property, plant and equipment_8
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, 2021 | Dec. 31, 2020 | ||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | R$ 16648681 | R$ 16219719 | |
Concession rights [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | R$ 15706265 | 15,318,664 | |
Concession rights [member] | Companhia de Gas de Sao Paulo - COMGAS [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Annual rate of amortization | [1] | 2.00% | |
Intangible assets other than goodwill | [1] | R$ 8953495 | 8,425,014 |
Concession rights [member] | Rumo Malha Norte SA [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Annual rate of amortization | [2] | 1.59% | |
Intangible assets other than goodwill | [2] | R$ 6752770 | 6,893,650 |
Operating license [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Annual rate of amortization | 3.70% | ||
Intangible assets other than goodwill | R$ 211895 | 187,899 | |
Trademarks [member] | Comma [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | 57,439 | 54,207 | |
Customer-related intangible assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | R$ 575459 | 519,915 | |
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$ 276811 | 210,038 | |
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$ 297286 | 309,877 | |
Customer-related intangible assets [member] | Other | |||
Disclosure of detailed information about intangible assets [line items] | |||
Annual rate of amortization | 20.00% | ||
Intangible assets other than goodwill | R$ 1362 | ||
Computer software [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Annual rate of amortization | 20.00% | ||
Intangible assets other than goodwill | R$ 46770 | 86,090 | |
Other [member] | Mobil [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Annual rate of amortization | 20.00% | ||
Intangible assets other than goodwill | R$ 50853 | 52,944 | |
Other [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | R$ 97623 | R$ 139034 | |
[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 . The amount will be amortized until the end of the concession in 2079. |
Property, plant and equipment_9
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Summary of Combined carrying amounts of goodwill allocated to each cash-generating unit (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of information for cash-generating units [line items] | ||
Growth rates (as a percent) | 3.00% | 3.30% |
Assumptions | ||
Risk-free fee (T-Note 10y) (as a percent) | 1.46% | |
Market risk premium (as a percent) | 5.63% | |
BR | ||
Assumptions | ||
Inflation (as a percent) | 3.00% | |
Country risk premium (as a percent) | 3.68% | |
Tax rate (as a percent) | 34.00% | |
US | ||
Assumptions | ||
Inflation (as a percent) | 2.16% | |
UK | ||
Assumptions | ||
Inflation (as a percent) | 2.04% | |
Country risk premium (as a percent) | 0.51% | |
Tax rate (as a percent) | 19.00% | |
ARG | ||
Assumptions | ||
Country risk premium (as a percent) | 10.21% | |
Tax rate (as a percent) | 30.00% | |
Bottom of range [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Discount rates (as a percent) | 8.30% | 8.30% |
Top of range [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Discount rates (as a percent) | 12.20% | 9.30% |
Cash-generating units [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | R$ 1132817 | R$ 1077758 |
Cash generating unit – Moove | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 916,742 | 882,373 |
Cash generating unit – Compass | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 94,891 | 94,891 |
Cash generating unit – Logística | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 100,451 | 100,451 |
Cash generating unit – Cosan – Other Business | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | R$ 20733 | R$ 43 |
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, 2021 | Dec. 31, 2020 | |
Disclosure of property plant and equipment intangible assets goodwill right of use assets and contract assets [line items] | ||
Beginning of period | R$ 695938 | R$ 600541 |
Additions | 1,057,379 | 886,202 |
Disposals | (25,439) | |
Transfer to concession rights and customer relationships | (1,021,896) | (790,805) |
End of period | 705,982 | 695,938 |
Gas and Power [member] | ||
Disclosure of property plant and equipment intangible assets goodwill right of use assets and contract assets [line items] | ||
Beginning of period | 686,690 | 594,601 |
Additions | 1,020,176 | 885,631 |
Disposals | ||
Transfer to concession rights and customer relationships | (1,021,896) | (793,542) |
End of period | 684,970 | 686,690 |
Moove [member] | ||
Disclosure of property plant and equipment intangible assets goodwill right of use assets and contract assets [line items] | ||
Beginning of period | 9,248 | 5,940 |
Additions | 37,203 | 571 |
Disposals | (25,439) | |
Transfer to concession rights and customer relationships | (2,737) | |
End of period | R$ 21012 | R$ 9248 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | R$ 7916230 | ||
Amortization additions | R$ 100593 | R$ 40545 | |
Ending Balance | 7,947,267 | 7,916,230 | |
Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 8,911,937 | 5,181,933 | |
Business Combination (note 9.3) | 3,240 | ||
Additions | 150,963 | 3,565,590 | |
Contractual adjustments | 430,701 | 263,887 | |
Transfers | (233,507) | (107,963) | |
Disposals | (14,957) | ||
Currency translation adjustments | 4,005 | 8,490 | |
Ending Balance | 9,252,382 | 8,911,937 | 5,181,933 |
Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (995,707) | (713,618) | |
Transfers | 100,472 | 59,745 | |
Disposals | 6,109 | ||
Currency translation adjustments | (1,736) | (1,382) | |
Amortization additions | (414,253) | (339,486) | |
Impairment | (966) | ||
Ending Balance | (1,305,115) | (995,707) | (713,618) |
Land and buildings [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 264,998 | ||
Ending Balance | 186,964 | 264,998 | |
Land and buildings [member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 380,828 | 247,430 | |
Business Combination (note 9.3) | 3,240 | ||
Additions | 73,039 | 124,014 | |
Contractual adjustments | 41,663 | 187 | |
Transfers | (233,296) | ||
Disposals | (12,121) | ||
Currency translation adjustments | 1,530 | 9,197 | |
Ending Balance | 254,883 | 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 | (115,830) | (78,965) | |
Transfers | 75,134 | ||
Disposals | 3,880 | ||
Currency translation adjustments | (265) | (1,888) | |
Amortization additions | (30,838) | (34,977) | |
Impairment | |||
Ending Balance | (67,919) | (115,830) | (78,965) |
Machinery, equipment and facilities [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 27,027 | ||
Ending Balance | 113,191 | 27,027 | |
Machinery, equipment and facilities [member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 39,122 | 10,718 | |
Business Combination (note 9.3) | |||
Additions | 47,554 | 18,714 | |
Contractual adjustments | 48,784 | 10,397 | |
Transfers | 7,264 | ||
Disposals | (2,836) | ||
Currency translation adjustments | 2,561 | (707) | |
Ending Balance | 142,449 | 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 | (12,095) | (3,074) | |
Transfers | (1,547) | ||
Disposals | 2,229 | ||
Currency translation adjustments | (1,506) | 506 | |
Amortization additions | (16,339) | (9,527) | |
Impairment | |||
Ending Balance | (29,258) | (12,095) | (3,074) |
Freight cars and Locomotives [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 572,585 | ||
Ending Balance | 539,392 | 572,585 | |
Freight cars and Locomotives [member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 933,325 | 1,038,641 | |
Business Combination (note 9.3) | |||
Additions | 43 | 864 | |
Contractual adjustments | 5,242 | 1,783 | |
Transfers | (107,963) | ||
Disposals | |||
Currency translation adjustments | |||
Ending Balance | 938,610 | 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 | (360,740) | (367,072) | |
Transfers | 59,745 | ||
Disposals | |||
Currency translation adjustments | |||
Amortization additions | (38,478) | (53,413) | |
Impairment | |||
Ending Balance | (399,218) | (360,740) | (367,072) |
Software [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 69,835 | ||
Ending Balance | 70,069 | 69,835 | |
Software [Member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 82,369 | 66,931 | |
Business Combination (note 9.3) | |||
Additions | 15,438 | ||
Contractual adjustments | 4,659 | ||
Transfers | |||
Disposals | |||
Currency translation adjustments | |||
Ending Balance | 87,028 | 82,369 | 66,931 |
Software [Member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (12,534) | (7,594) | |
Transfers | |||
Disposals | |||
Currency translation adjustments | |||
Amortization additions | (4,425) | (4,940) | |
Impairment | |||
Ending Balance | (16,959) | (12,534) | (7,594) |
Vehicles [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 896 | ||
Ending Balance | 13,974 | 896 | |
Vehicles [member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 13,925 | 14,259 | |
Business Combination (note 9.3) | |||
Additions | 15,219 | ||
Contractual adjustments | 41 | (334) | |
Transfers | |||
Disposals | |||
Currency translation adjustments | (86) | ||
Ending Balance | 29,099 | 13,925 | 14,259 |
Vehicles [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (13,029) | (6,457) | |
Transfers | |||
Disposals | |||
Currency translation adjustments | 35 | ||
Amortization additions | (2,131) | (6,572) | |
Impairment | |||
Ending Balance | (15,125) | (13,029) | (6,457) |
Port and rail infrastructure [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 6,980,889 | ||
Ending Balance | 7,023,677 | 6,980,889 | |
Port and rail infrastructure [Member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 7,462,368 | 3,803,954 | |
Business Combination (note 9.3) | |||
Additions | 15,108 | 3,406,560 | |
Contractual adjustments | 330,312 | 251,854 | |
Transfers | (7,475) | ||
Disposals | |||
Currency translation adjustments | |||
Ending Balance | 7,800,313 | 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 | (481,479) | (250,456) | |
Transfers | 26,885 | ||
Disposals | |||
Currency translation adjustments | |||
Amortization additions | (322,042) | (230,057) | |
Impairment | (966) | ||
Ending Balance | R$ 776636 | R$ 481479 | R$ 250456 |
Property, plant and equipmen_11
Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets - Schedule of Balances of Investment Properties (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in investment property [abstract] | |||
Opening Balance | |||
Subsidiary acquisition (Note 9.3) | 3,875,752 | ||
Variation in fair value, net | 17,116 | ||
Provision of Real Estate Transfer Tax | (6,450) | ||
Other | 278 | ||
Closing balance | R$ 3886696 | ||
Bottom of range [member] | |||
Reconciliation of changes in investment property [abstract] | |||
Significant unobservable inputs (as a percentage) | 6.50% | ||
Top of range [member] | |||
Reconciliation of changes in investment property [abstract] | |||
Significant unobservable inputs (as a percentage) | 9.00% |
Commitments (Detail)
Commitments (Detail) R$ in Thousands, MMBTU in Millions | 12 Months Ended | ||
Dec. 31, 2021BRL (R$)MMBTU | Dec. 31, 2020BRL (R$) | May 27, 2020BRL (R$) | |
Comgas [member] | Natural gas distribution [member] | |||
Disclosure of detailed information about commitments [line items] | |||
Financial commitment in an estimated present value | R$ 7745842 | ||
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 | R$ 270629 | |
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 | 16.00% | ||
Rumo Malha Central S.A. [member] | |||
Disclosure of detailed information about commitments [line items] | |||
Estimated investments to be made for sub-concession contracts | R$ 645573 | ||
Percentage of physical execution | 65.00% | 56.00% | |
Rumo Malha Central S.A. [member] | Bottom of range [member] | |||
Disclosure of detailed information about commitments [line items] | |||
Contractual fixed term | 1 year | ||
Rumo Malha Central S.A. [member] | Top of range [member] | |||
Disclosure of detailed information about commitments [line items] | |||
Contractual fixed term | 3 years | ||
Compass Gas e Energia [Member] | Natural gas distribution [member] | |||
Disclosure of detailed information about commitments [line items] | |||
Contractual fixed term | 10 years | ||
Supply capacity committed | MMBTU | 120 |
Concessions payable- Summary of
Concessions payable- Summary of Concessions Payable (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | R$ 3054248 | R$ 2983342 |
Current | 160,771 | 158,705 |
Non-current | 2,893,477 | 2,824,637 |
Court Discussion [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 1,802,403 | 1,719,635 |
Court Discussion [member] | Rumo Malha Paulista S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 55,170 | 101,871 |
Court Discussion [member] | Rumo Malha Oeste S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 1,747,233 | 1,617,764 |
Railroad concession payable under litigation | Rumo Malha Paulista S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 1,145,450 | 1,154,919 |
Payables | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 106,395 | 108,788 |
Payables | Rumo Malha Paulista S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 20,682 | 24,151 |
Payables | Rumo Malha Sul S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | R$ 85713 | R$ 84637 |
Concessions payable - Additiona
Concessions payable - Additional Information (Detail) - Railroad concession payable under litigation - Rumo S.A. [member] R$ in Thousands | 12 Months Ended |
Dec. 31, 2021BRL (R$) | |
Disclosure of Concessions Payable And Judicial Deposits [line items] | |
Recognized indemnification amount | R$ 479563 |
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, 2021 | Dec. 31, 2020 |
Disclosure of judicial deposits [line items] | ||
Judicial deposits | R$ 22119 | R$ 22119 |
Rumo Malha Oeste [member] | ||
Disclosure of judicial deposits [line items] | ||
Judicial deposits | R$ 22119 | R$ 22119 |
Concessions payable - Summary_2
Concessions payable - Summary of leases and grants related to concession payable (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Leases and grants under IFRS 16 | ||
Leases | R$ 1458392 | R$ 1345348 |
Grants | 1,205,004 | 983,576 |
Leases and grants related to concession payable | 2,663,396 | 2,328,924 |
Current leases and grants related to concession payable | 274,774 | 232,212 |
Non-current leases and grants related to concession payable | 2,388,622 | 2,096,712 |
Rumo Malha Sul S.A. [member] | ||
Leases and grants under IFRS 16 | ||
Leases | 623,155 | 600,745 |
Rumo Malha Paulista S.A. [member] | ||
Leases and grants under IFRS 16 | ||
Leases | 508,169 | 475,647 |
Grants | 590,594 | 492,222 |
Rumo Malha Oeste S.A. [member] | ||
Leases and grants under IFRS 16 | ||
Leases | 216,101 | 179,568 |
Elevacoes Portuarias [member] | ||
Leases and grants under IFRS 16 | ||
Leases | 97,046 | 76,925 |
Portofer [member] | ||
Leases and grants under IFRS 16 | ||
Leases | 13,921 | 12,463 |
Rumo Malha Central S.A. [member] | ||
Leases and grants under IFRS 16 | ||
Grants | R$ 614410 | R$ 491354 |
Other Taxes Payable - Schedule
Other Taxes Payable - Schedule of Other Taxes Payable (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other taxes [line items] | ||
Other tax payable | R$ 683109 | R$ 566344 |
Current | 536,220 | 417,326 |
Non-Current | 146,889 | 149,018 |
R- E- F- I- S- [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 200,664 | 202,377 |
ICMS - State VAT [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 278,351 | 198,708 |
COFINS - Revenue tax [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 88,214 | 61,930 |
PIS - Revenue tax [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 15,082 | 16,578 |
Withholding Income Tax [Member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 11,024 | |
INSS - Social security [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 34,215 | 29,515 |
ISS [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 1,108 | |
IOF [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 873 | |
Other [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | R$ 55559 | R$ 55255 |
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, 2021 | Dec. 31, 2020 |
Disclosure of other taxes [line items] | ||
Other tax payable non current | R$ 146889 | R$ 149018 |
13 to 24 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 4,370 | 7,254 |
25 to 36 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 1,514 | 3,143 |
37 to 48 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 716 | 1,478 |
49 to 60 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 716 | 691 |
61 to 72 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 137,687 | 134,151 |
73 to 84 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 716 | 691 |
85 to 96 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 716 | 691 |
Thereafter [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | R$ 454 | R$ 919 |
Income Tax and Social Contrib_3
Income Tax and Social Contribution - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Income tax rate | 34.00% | |||
Maximum permitted tax loss carry forwards percentage | 30.00% | |||
Deferred tax relating to amortization surplus value to charged or credited directly to equity | R$ 129792 | |||
ICMS benefit - extemporaneous tax credits | [1] | 290,745 | ||
Estimated financial effect of contingent liabilities | 22,413,711 | R$ 19835788 | ||
Tax contingent liability [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Estimated financial effect of contingent liabilities | R$ 370564 | |||
Bottom of range [member] | State VAT - ICMS credits [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Tax base of ICMS | 12.00% | |||
Top of range [member] | State VAT - ICMS credits [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Tax base of ICMS | 15.60% | |||
Comgas [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
ICMS benefit extemporaneous tax credits included interest | R$ 358898 | |||
ICMS benefit - extemporaneous tax credits | (290,745) | |||
ICMS benefit extemporaneous tax credits interest | 68,152 | |||
Cosan Investimentose Participacoes S A [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax expense (income) relating to origination and reversal of temporary differences | R$ 284738 | |||
[1] | The subsidiary recognized an extemporaneous credit in the amount of R$ 358,898 (R$ 290,745 principal and R$ 68,152 interest), used through its offset against IRPJ, CSLL, PIS and COFINS payable due in the year , related to the overpayments of Income Taxes ( Imposto de Renda Pessoa Jurídica % to15.6 % pursuant to art. 8 of Annex II of the ICMS Regulation, approved by State Decree No. 45,900 (“RICMS/SP”), as amended by State Decree No. 62,399/2016. These credits were recognized by the Company based on its best understanding of the subject, substantiated by the opinion of its external legal advisors, which took into account all the jurisprudence applicable to the subject. The Company also considered all the accounting rules in force, which, after being analyzed together, did not indicate any other accounting effect to be recognized. |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | ||||
Profit before taxes | R$ 6250876 | R$ 1990961 | R$ 3661948 | |
Income tax and social contribution nominal rate | (2,125,298) | (676,927) | (1,245,062) | |
Adjustments to determine the effective rate | ||||
Interest in earnings of investees (non-taxable income) | [1] | 1,734,883 | 207,940 | 385,097 |
Differences in tax rates on earnings (losses) of overseas companies | 55,910 | 19,793 | (78,026) | |
Granted income tax incentive | 199,687 | 109,081 | 178,609 | |
Share-based payment transactions | 450 | 9,941 | 19,986 | |
Interest on shareholders' equity | (72,804) | (24,773) | (26,766) | |
Non-deductible expenses (donations, gifts, etc.) | (28,061) | (4,183) | (16,925) | |
Tax losses not recorded | (203,809) | (170,017) | (69,335) | |
ICMS benefit - extemporaneous tax credits | [2] | 290,745 | ||
ICMS benefit - current period | [3] | 118,107 | ||
Rate difference | 5,577 | |||
Amortization of the effects on formation of joint ventures | [4] | 402,571 | ||
Goodwill amortization effect | 1,271 | 1,271 | 1,271 | |
Other | [5],[6] | 66,355 | 25,207 | 71,555 |
Income Taxes | R$ 445584 | R$ 502667 | R$ 779596 | |
Effective rate | 7.13% | 25.25% | 21.29% | |
[1] | The amount of R$129,792 , referring to the amortization of the surplus value of , is treated as a temporary difference. | |||
[2] | The subsidiary recognized an extemporaneous credit in the amount of R$ 358,898 (R$ 290,745 principal and R$ 68,152 interest), used through its offset against IRPJ, CSLL, PIS and COFINS payable due in the year , related to the overpayments of Income Taxes ( Imposto de Renda Pessoa Jurídica % to15.6 % pursuant to art. 8 of Annex II of the ICMS Regulation, approved by State Decree No. 45,900 (“RICMS/SP”), as amended by State Decree No. 62,399/2016. These credits were recognized by the Company based on its best understanding of the subject, substantiated by the opinion of its external legal advisors, which took into account all the jurisprudence applicable to the subject. The Company also considered all the accounting rules in force, which, after being analyzed together, did not indicate any other accounting effect to be recognized. | |||
[3] | After January 1, 2021, the subsidiary changed its tax procedure, excluding the benefit of the reduction in the ICMS tax base, granted by the State of Paulo, directly from the calculation of IR and CS for the current year. | |||
[4] | Reversal of deferred income tax and social contribution liabilities on the amortization of fair value related to the gain recorded in the formation of | |||
[5] | Considering the effects of the judgment of STF RE No. 1,063,187, dated September 24, 2021, it concluded that certain financial effects related to the equity recomposition in the event of repetition of undue taxes should not form the basis of the company's taxable income. Company and its subsidiaries the amount of R$ | |||
[6] | The Company reversed the deferred IRPJ and CSLL in the amount of R$284,738 , on the interest on the put option in the investment transaction, which involved CIP and the banks, as a result of the settlement of the put option see Note 2. |
Income Tax and Social Contrib_5
Income Tax and Social Contribution - Schedule of Reconciliation of Income and Social Contribution Tax Expenses (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | |
Income tax and social contribution nominal rate | 34.00% |
Income Tax and Social Contrib_6
Income Tax and Social Contribution - Summary of Deferred Income Tax Assets and Liabilities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | |||
Income tax losses | R$ 2987069 | R$ 2574260 | |
Social contribution losses | 1,087,742 | 929,432 | |
Temporary differences | |||
Share-based payment transactions | 50,114 | 19,129 | |
Allowance for expected credit losses | 28,948 | 31,416 | |
Profit sharing | 111,931 | 41,080 | |
Tax credit losses | 81,918 | 83,833 | |
Interest on preferred shareholders payable in subsidiaries | 167,412 | ||
Post-employment benefits | 160,082 | 200,461 | |
Loss allowances for impairment | 193,207 | 226,092 | |
Provision for legal proceedings | 374,369 | 288,967 | |
Miscellaneous expense allowance | 401,423 | 366,224 | |
Review of useful life of property, plant and equipment | 399,537 | ||
Leases | 431,629 | ||
Foreign exchange-Loans and borrowings | 1,667,500 | 1,962,892 | |
Other | [1] | 300,307 | 242,018 |
Deferred taxes-Assets | 7,876,239 | 7,532,753 | |
(-) Deferred taxes assets not recognized | [2] | (2,483,035) | (2,318,998) |
Fair value option to loans | (127,318) | 526,001 | |
Fair value amortization of the property, plant and equipment | (15,976) | (2,640) | |
Leases | (25,460) | ||
Tax deductible goodwill | (331,404) | (839,939) | |
Investment properties | (100,197) | ||
Marketable securities | (62,593) | ||
Provision for realization - Goodwill recorded in equity | (449,153) | ||
Income on formation of joint ventures | (668,508) | (1,135,036) | |
Unrealized gains on derivatives instruments | (1,034,373) | (2,206,216) | |
Review of useful life of property, plant and equipment | (53,347) | ||
Deferred tax liabilities, Fair value amortization of intangible asset | (3,551,836) | (3,603,568) | |
Other | 235,073 | 282,212 | |
Total | (6,159,632) | (7,004,646) | |
Total deferred taxes recorded, net | 766,428 | 1,790,891 | |
Deferred tax assets | 3,051,628 | 1,900,241 | |
Deferred tax liabilities | R$ 3818056 | R$ 3691132 | |
[1] | Refers mainly to tax losses and temporary differences of the Company, and , which, under current conditions, do not meet the requirements for accounting for said income tax and social contribution assets deferred due to the lack of predictability of future generation of tax profits. | ||
[2] | Provision for accounting realization of tax loss recognized in the capital contribution in a subsidiary. |
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, 2021 | Dec. 31, 2020 | |
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | R$ 7004646 | R$ 5831602 |
(Charged) / credited to the profit for the year | 450 | (1,172,964) |
Other comprehensive income (loss) | (18,300) | 450 |
Recognized in equity | 10,213 | |
Business combination | (163,284) | (530) |
Ending balance | (5,674,656) | (7,004,646) |
Total deferred taxes recorded, net | 766,428 | 1,790,891 |
Tax loss and negative basis | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 3,503,692 | 2,915,329 |
(Charged) / credited to the profit for the year | 565,197 | 587,315 |
Other comprehensive income (loss) | 1,048 | |
Recognized in equity | 5,878 | |
Business combination | 44 | |
Exchange differences | ||
Ending balance | 4,074,811 | 3,503,692 |
Employee benefits | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 60,209 | 73,866 |
(Charged) / credited to the profit for the year | 101,836 | (13,657) |
Other comprehensive income (loss) | ||
Recognized in equity | ||
Business combination | ||
Exchange differences | ||
Ending balance | 162,045 | 60,209 |
Provisions | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 996,530 | 963,637 |
(Charged) / credited to the profit for the year | 93,396 | (1,612) |
Other comprehensive income (loss) | 34,505 | |
Recognized in equity | 68 | |
Business combination | (10,129) | |
Exchange differences | ||
Ending balance | 1,079,865 | 996,530 |
Post- employment obligations | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 200,461 | 214,496 |
(Charged) / credited to the profit for the year | (12,737) | 14,958 |
Other comprehensive income (loss) | (27,642) | (28,993) |
Recognized in equity | ||
Business combination | ||
Exchange differences | ||
Ending balance | 160,082 | 200,461 |
Property, plant and equipment | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 399,537 | 408,581 |
(Charged) / credited to the profit for the year | (433,371) | (9,044) |
Other comprehensive income (loss) | ||
Recognized in equity | ||
Business combination | (19,513) | |
Exchange differences | ||
Ending balance | 53,347 | 399,537 |
Unregistered credits | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (2,318,998) | (2,198,164) |
(Charged) / credited to the profit for the year | (163,890) | (120,834) |
Other comprehensive income (loss) | (147) | |
Recognized in equity | ||
Business combination | ||
Exchange differences | ||
Ending balance | (2,483,035) | (2,318,998) |
Other | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 2,372,324 | 1,177,857 |
(Charged) / credited to the profit for the year | (1,642,143) | 113,454 |
Other comprehensive income (loss) | 20,035 | 39,930 |
Recognized in equity | 4,267 | |
Business combination | ||
Exchange differences | 1,213,324 | 1,041,083 |
Ending balance | 1,967,807 | 2,372,324 |
Deferred Tax Assets | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 5,213,755 | 3,555,602 |
(Charged) / credited to the profit for the year | (1,491,712) | 570,580 |
Other comprehensive income (loss) | (7,754) | 46,490 |
Business combination | (29,598) | |
Exchange differences | 1,213,324 | 1,041,083 |
Ending balance | 4,908,228 | 5,213,755 |
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 | 466,528 | |
Other comprehensive income (loss) | ||
Business combination | ||
Ending balance | (668,508) | (1,135,036) |
Intangible assets | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (3,603,568) | (3,663,085) |
(Charged) / credited to the profit for the year | 51,732 | 59,517 |
Other comprehensive income (loss) | ||
Business combination | ||
Ending balance | (3,551,836) | (3,603,568) |
Unrealized gains on derivatives | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (2,206,216) | (923,672) |
(Charged) / credited to the profit for the year | 1,063,297 | (1,282,808) |
Other comprehensive income (loss) | 108,546 | 264 |
Business combination | ||
Ending balance | (1,034,373) | (2,206,216) |
Leases | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (25,459) | (36,346) |
(Charged) / credited to the profit for the year | 456,858 | 10,667 |
Other comprehensive income (loss) | 230 | 220 |
Business combination | ||
Ending balance | (431,629) | (25,459) |
Fair value adjustment | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 526,002 | 174,597 |
(Charged) / credited to the profit for the year | (653,320) | 351,405 |
Other comprehensive income (loss) | ||
Business combination | ||
Ending balance | 127,318 | 526,002 |
Other | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (560,369) | (248,060) |
(Charged) / credited to the profit for the year | 126,479 | (311,745) |
Other comprehensive income (loss) | (127,076) | (34) |
Business combination | (163,284) | (530) |
Ending balance | R$ 724250 | R$ 560369 |
Income Tax and Social Contrib_8
Income Tax and Social Contribution - Schedule of estimate of tax credit realization (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | R$ 3051628 | R$ 1900241 |
Within 1 year | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 266,609 | |
From 1 to 2 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 277,527 | |
From 2 to 3 years | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 322,779 | |
From 3 to 4 years | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 329,506 | |
From 4 to 5 years | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 350,582 | |
From 5 to 8 years | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 976,496 | |
From 8 to 10 years | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | R$ 528129 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | R$ 1644061 | R$ 1360898 | R$ 1354171 |
Judicial deposit | 923,061 | 875,842 | |
Legal proceedings provision, tax [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 647,610 | 635,406 | 589,180 |
Judicial deposit | 500,484 | 462,197 | |
Civil, environmental and regulatory [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 585,034 | 350,769 | |
Judicial deposit | 169,857 | 140,833 | |
Legal proceedings provision, labor [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 411,417 | 374,723 | R$ 432464 |
Judicial deposit | R$ 252720 | R$ 272812 |
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, 2021 | Dec. 31, 2020 | ||
Disclosure of other provisions [line items] | |||
Legal proceedings provision beginning balance | R$ 1360898 | R$ 1354171 | |
Provisions | 242,960 | 140,481 | |
Settlement / Write-offs | (189,500) | (222,790) | |
Exchange rate | 109 | ||
Interest | [1] | 229,703 | 88,927 |
Legal proceedings provision ending balance | 1,644,061 | 1,360,898 | |
Legal proceedings provision, tax [member] | |||
Disclosure of other provisions [line items] | |||
Legal proceedings provision beginning balance | 635,406 | 589,180 | |
Provisions | 24,559 | 25,443 | |
Settlement / Write-offs | (15,331) | (11,947) | |
Exchange rate | |||
Interest | [1] | 2,976 | 32,730 |
Legal proceedings provision ending balance | 647,610 | 635,406 | |
Civil, environmental and regulatory [member] | |||
Disclosure of other provisions [line items] | |||
Legal proceedings provision beginning balance | 350,769 | 332,527 | |
Provisions | 103,805 | 46,989 | |
Settlement / Write-offs | (56,931) | (76,772) | |
Exchange rate | |||
Interest | [1] | 187,391 | 48,025 |
Legal proceedings provision ending balance | 585,034 | 350,769 | |
Legal proceedings provision, labor [member] | |||
Disclosure of other provisions [line items] | |||
Legal proceedings provision beginning balance | 374,723 | 432,464 | |
Provisions | 114,596 | 68,049 | |
Settlement / Write-offs | (117,238) | (134,071) | |
Exchange rate | 109 | ||
Interest | [1] | 39,336 | 8,172 |
Legal proceedings provision ending balance | R$ 411417 | R$ 374723 | |
[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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of other provisions [line items] | ||||
Judicial deposit | R$ 923061 | R$ 875842 | ||
Provision for legal proceedings | 1,644,061 | 1,360,898 | R$ 1354171 | |
Principal proceedings, deemed risk of loss as possible | 22,413,711 | 19,835,788 | ||
Compensation with FINSOCIAL [Member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | [1] | 300,470 | 296,445 | |
INSS - Social security contributions [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | [2] | 97,847 | 97,928 | |
State VAT - ICMS credits [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | [3] | 85,965 | 93,743 | |
IPI - Excise tax credit - NT [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | [4] | 43,461 | 53,697 | |
Federal income taxes [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 8,553 | 9,508 | ||
PIS and COFINS [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 28,427 | 2,304 | ||
Other [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 82,887 | 81,781 | ||
Legal proceedings provision, tax [member] | ||||
Disclosure of other provisions [line items] | ||||
Judicial deposit | 500,484 | 462,197 | ||
Provision for legal proceedings | 647,610 | 635,406 | 589,180 | |
Legal proceedings provision, tax [member] | Compensation with FINSOCIAL [Member] | ||||
Disclosure of other provisions [line items] | ||||
Judicial deposit | 0 | |||
Provision for legal proceedings | 296,400 | 293,291 | ||
Legal proceedings provision, tax [member] | State VAT - ICMS credits [member] | ||||
Disclosure of other provisions [line items] | ||||
Judicial deposit | 0 | |||
Provision for legal proceedings | 93,700 | 97,534 | ||
Legal proceedings provision, tax [member] | IPI - Excise tax credit - NT [member] | ||||
Disclosure of other provisions [line items] | ||||
Principal proceedings, deemed risk of loss as possible | 39,407 | |||
Civil, environmental and regulatory [member] | ||||
Disclosure of other provisions [line items] | ||||
Judicial deposit | 169,857 | 140,833 | ||
Provision for legal proceedings | R$ 585034 | R$ 350769 | R$ 332527 | |
[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 22-A of the Law No. 8,212/91, 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$93,700 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | R$ 1644061 | R$ 1360898 | R$ 1354171 | |
Isolated fine percentage due to insufficient payment of advances of IRPJ and CSLL | 50.00% | |||
Additional isolated fine percentage due to insufficient payment of advances of IRPJ and CSLL | 75.00% | |||
State VAT - ICMS credits [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | [1] | R$ 85965 | 93,743 | |
Percentage of fines on ICMS tax amount | 50.00% | |||
Percentage of credit considered undue included on ICMS | 100.00% | |||
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, tax [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 647,610 | 635,406 | 589,180 | |
Legal proceedings provision, tax [member] | State VAT - ICMS credits [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | 93,700 | 97,534 | ||
Legal proceedings provision, labor [member] | ||||
Disclosure of other provisions [line items] | ||||
Provision for legal proceedings | R$ 411417 | R$ 374723 | R$ 432464 | |
[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$93,700 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, 2021 | Dec. 31, 2020 | ||
Disclosure of contingent liabilities [line items] | ||||
Principal proceedings, deemed risk of loss as possible | R$ 22413711 | R$ 19835788 | ||
Legal proceedings contingent liability, civil, regulatory and environmental [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Principal proceedings, deemed risk of loss as possible | 6,905,964 | 5,476,470 | ||
Legal Proceedings Contingent Liability, Tax [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Principal proceedings, deemed risk of loss as possible | 14,647,917 | 13,416,966 | ||
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] | 5,404,264 | 4,344,963 | |
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] | 2,877,144 | 3,042,710 | |
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] | 2,368,123 | 2,182,933 | |
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] | 1,251,394 | 1,227,555 | |
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] | 461,747 | 473,690 | |
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] | 492,025 | 455,121 | |
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] | 398,184 | 357,500 | |
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] | 180,533 | 226,807 | |
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] | 186,048 | 183,585 | |
Legal Proceedings Contingent Liability, Tax [member] | Goodwill [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Principal proceedings, deemed risk of loss as possible | 84,953 | |||
Legal Proceedings Contingent Liability, Tax [member] | Stock option [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Principal proceedings, deemed risk of loss as possible | [10] | 65,260 | 63,986 | |
Legal Proceedings Contingent Liability, Tax [member] | Foreign financial operation [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Principal proceedings, deemed risk of loss as possible | 29,136 | |||
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 | 8,450 | 14,886 | ||
Legal Proceedings Contingent Liability, Tax [member] | Capital Gain [Member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Principal proceedings, deemed risk of loss as possible | 29,516 | [11] | ||
Legal Proceedings Contingent Liability, Tax [member] | IOF on Mutual [Member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Principal proceedings, deemed risk of loss as possible | 136,286 | [12] | ||
Legal Proceedings Contingent Liability, Tax [member] | Other [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Principal proceedings, deemed risk of loss as possible | 788,943 | 729,141 | ||
Legal Proceedings Contingent Liability, Labor [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Principal proceedings, deemed risk of loss as possible | R$ 859830 | R$ 942352 | ||
[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 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) Infraction Notices drawn up by the Paulo State Finance Department ( da de Paulo), against , with the reporting of infractions for alleged lack collection of ICMS in the provision of rail transport services for export; improper credit of ICMS for alleged bookkeeping in the Book of Entries of amounts higher than those found in the Tax Books; improper credit of ICMS for acquisitions supposedly classified as use and consumption. Fines of 50% of the tax amount and 100% of the amount of credit considered undue were also included. (b) state tax authorities assessed the charges for non-taxation by ICMS on the invoices for the provision of rail freight services for export. All assessments were challenged, since there is a favorable position for taxpayers consolidated in the higher courts, based on the Federal Constitution and Complementary Law 87/1996 (c) the Treasury of the State of drew up several Terms of Seizure and Deposit ( ) in order to collect ICMS and a 50% fine on the value of the fined operations, under the mistaken understanding that the goods exit operations destined for export would be cancelled with the (Auxiliary Document of Electronic Transport Knowledge), with the supposed characterization of untrue documentation, under the terms of articles 35-A and 35-B of State Law 7098/98. The Company and its subsidiaries contest challenge the assessments and demonstrate to the Tax Authorities that the goods transported were duly covered by suitable tax documentation; (d) collection of ICMS, for the years 2018 and 2019, in the acquisition of wagons as a result of the alleged non-exemption provided for by the Tax System for Incentives to the Modernization and Expansion of the Port Structure - REPORTO by the Paulo tax authorities. | |||
[3] | The administrative demands for PIS and COFINS in subsidiary are substantially related to the disallowance of PIS and COFINS credits by the non-cumulative system related to the following items: a) credits launched out of time unaccompanied by prior rectification of tax returns; b) claims on expenses arising from mutual traffic contracts; c) credits related to expenses with services classified as inputs in the activity carried out by the Company that supposedly were not proven during the Inspection; d) credits on expenses with transportation of employees; e) credits related to electricity expenses; f) credits on expenses with machinery rentals and rentals that were not proven in the course of the Inspection; g) credits on expenses on the acquisition of machinery, equipment and other assets incorporated into the subsidiary's fixed assets; and (h) and isolated fine corresponding to 50% of the value of the credits. | |||
[4] | The legal claims related to the IRRF essentially involve: (a) 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. (b) had part of its IRPJ credit balance offset partially disallowed by the Federal Revenue Service ( Federal do | |||
[5] | Infraction Notices drawn up in the face of to demand differences in IRPJ, CSLL, PIS and COFINS, related to the calendar years 2005 to 2008, due to the following alleged a) undue deduction of the Real Profit and the Calculation Base of CSLL of financial expenses arising from loans entered into with financial institutions abroad, b) undue exclusion of Real Profit and Calculation Base of financial income from securities issued by the Government of Austria and the Government of Spain, c) no inclusion, in the Real Profit and in the CSLL Calculation Base, of the gains earned in swap operations, and no taxation of the financial income resulting from such contracts by PIS and COFINS, d) undue exclusion of the Real Profit and the Calculation Base of CSLL, carried out as PIS and COFINS credits, e) undue exclusion of Real Profit and the CSLL Calculation Base carried out as deferred CSLL. f) undue exclusion of taxable income and the CSLL calculation basis made as deferred CSLL; and Violation g) insufficient payment of advances of IRPJ and CSLL, which generated the application of an isolated fine at the percentage of 50%, together with the fines of 75%. In 2019, we had definitive success regarding the completeness of the infractions “a”, “b”, “d”, “e” and “f”, as well as part of the infraction “c”, to recognize the possibility of exclusion of the actual profit and the CSLL calculation basis of the revenues arising from the Austrian public debt securities acquired on July 24, 2006 and, as a consequence, of part of the infraction “g”, in the extension of the partial cancellation of the item “c”. Contingency adjusted for ultimate success. The remainder of item “g” remains under administrative discussion. The discussion on the remainder of item “c” ended at the administrative level and continued at the judicial level. | |||
[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 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 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 assessments issued against the 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. | |||
[11] | Tax assessment notices issued by the Federal Revenue Service ( Federal do ) in 2011 and 2013 and 2019 against related to a) disallowance of goodwill expense based on future profitability, as well as financial expenses; b) non-taxation of supposed capital gain on the sale of equity interest in a Company of the same economic group; and c) supposed capital gain on the incorporation of shares in companies of the same economic group. In 2019, the subsidiary had definitive success in terms of reducing the capital gain launch base. Contingency adjusted for ultimate success. | |||
[12] | The lawsuits related to the IOF essentially involve a) The Federal Treasury intends to enforce the levy of IOF on the current accounts maintained by the parent Company for and its subsidiaries (most substantial part of the assessment). In the understanding of the tax authorities, the use of an accounting item as advances for expenses to related companies, without a formal loan agreement, characterizes the existence of a current account, and the IOF due must be determined according to the rules specific to revolving credit operations. The tax assessment notices are still being questioned at the administrative level; b) Tax Assessment Notice issued by the Federal Tax Authorities against for alleged failure to pay IOF in the period 2017 and 2018, relating to the collection of alleged financial transactions between the group companies, essentially on the remittance of amounts arising from mutual traffic between and , contracts with and other amounts listed in other accounting accounts. |
Provision for legal proceedin_8
Provision for legal proceedings and judicial deposits - Contingent assets - Additional Information (Detail) - Legal proceedings contingent assets [member] - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 06, 2019 |
Contingent assets | ||
Contingent asset recognized for tax contingencies | R$ 932000 | |
Comgas [member] | ||
Contingent assets | ||
Indemnity proceeding due to the economic and financial imbalance of the Concession Agreement | R$ 658096 | |
ARSESP 933 Resolution [Member] | Comgas [member] | ||
Contingent assets | ||
Contingent asset recognized for service concession arrangement | R$ 683358 |
Shareholders Equity - Summary o
Shareholders Equity - Summary of Share Capital (Detail) - Common shares [member] | 12 Months Ended |
Dec. 31, 2021shares | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 99.71% |
Percentage of treasury shares | 0.29% |
Percentage of shares issued | 100.00% |
Total of shares | 1,868,630,160 |
Treasury shares | 5,440,772 |
Total | 1,874,070,932 |
Free float [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 62.46% |
Total of shares | 1,170,582,693 |
Controlling Group [member] | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 35.90% |
Total of shares | 672,762,132 |
Board of directors and executive officers | |
Disclosure of classes of share capital [line items] | |
Percentage of shares outstanding | 1.35% |
Total of shares | 25,285,335 |
Shareholders Equity - Additiona
Shareholders Equity - Additional Information (Detail) R$ / shares in Units, R$ in Thousands | May 06, 2021 | Apr. 30, 2021 | Mar. 26, 2021shares | Feb. 02, 2021BRL (R$)shares | Dec. 31, 2021BRL (R$)R$ / sharesshares | Dec. 31, 2020BRL (R$) |
Disclosure of classes of share capital [line items] | ||||||
Stock Split, Conversion Ratio | 0.25 | 0.25 | ||||
Dividend as a percetage of net income | 25.00% | |||||
Fully paid in issued capital | R$ 6365853 | R$ 5727478 | ||||
Amount of shares authorized | R$ 7000000 | |||||
Common shares [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Treasury shares | shares | 5,440,772 | |||||
Market value per share | R$ / shares | R$ 2169 | |||||
Shares cancelled | shares | 10,000,000 | |||||
Shares repurchased | shares | 68,000,000 | 60,000 | ||||
Number of shares issued to employees for share-based compensation plans | shares | 1,393,156 | |||||
Number of shares sold or issued for other than share-based compensation plans | shares | 363,263 | |||||
Cancellation of treasury shares | R$ 496916 | |||||
Stock Split, Conversion Ratio | 0.25 | 0.25 | ||||
Shares repurchased amount | R$ 4778 | |||||
Amount of shares issued to members of share-based criteria plans | 4,603 | |||||
Amount of cash received from executives | 8,428 | |||||
Gain generated from cash received from executives | R$ 3825 | |||||
Share repurchase percentage | 5.89% | |||||
Number of nominative common shares | shares | 1,874,070,932 | |||||
Legal reserve | ||||||
Disclosure of classes of share capital [line items] | ||||||
Percentage of reserve allocation from net income | 5.00% | |||||
Threshold percentage limit of capital for legal reserve to be maintained | 20.00% |
Shareholders' Equity - Summary
Shareholders' Equity - Summary of Other Comprehensive (Loss) Income (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | R$ 20818867 | R$ 16240481 | R$ 17969356 |
Comprehensive (loss) income | (467,466) | (605,401) | (310,218) |
Ending balance | 28,870,022 | 20,818,867 | 16,240,481 |
Loss on cash flow hedge [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (1,316,502) | (790,403) | |
Comprehensive (loss) income | (601,415) | (526,099) | |
Ending balance | (1,917,917) | (1,316,502) | (790,403) |
Foreign currency translation differences [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 6,514 | 49,281 | |
Comprehensive (loss) income | 89,848 | (42,767) | |
Ending balance | 96,362 | 6,514 | 49,281 |
Actuarial loss on defined benefit plan [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (217,771) | (180,958) | |
Comprehensive (loss) income | 41,832 | (36,813) | |
Ending balance | (175,939) | (217,771) | (180,958) |
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 | 1,555 | 1,277 | |
Comprehensive (loss) income | 2,269 | 278 | |
Ending balance | 3,824 | 1,555 | 1,277 |
Total [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (1,511,204) | (905,803) | |
Comprehensive (loss) income | 914,332 | (605,401) | |
Ending balance | (596,872) | (1,511,204) | (905,803) |
Attributable to Owners of the Company [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (1,524,027) | (805,471) | (587,173) |
Comprehensive (loss) income | 1,002,418 | (718,556) | |
Ending balance | (521,609) | (1,524,027) | (805,471) |
Attributable to Non-controlling interests [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 12,823 | (100,332) | |
Comprehensive (loss) income | (88,086) | 113,155 | |
Ending balance | R$ 75263 | R$ 12823 | R$ 100332 |
Earnings per Share - Summary of
Earnings per Share - Summary of Calculation of Earnings per Share (Detail) R$ / shares in Units, R$ in Thousands | May 06, 2021 | Apr. 30, 2021 | Dec. 31, 2021BRL (R$)R$ / sharesshares | Dec. 31, 2020BRL (R$)R$ / sharesshares | Dec. 31, 2019BRL (R$)R$ / sharesshares |
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$ 6312140 | R$ 859482 | R$ 1316341 | ||
Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating basic earnings per share | 6,312,140 | 859,482 | 1,305,320 | ||
Dilutive effect of the share-based plan of subsidiaries | (5,249) | (5,739) | (5,714) | ||
Profit attributable to the holders of the Company’s common shares used in the calculation of diluted earnings per share | 6,306,891 | 853,743 | 1,310,627 | ||
Profit from continuing operations attributable to the ordinary equity holders of the Company used in calculating diluted earnings per share | R$ 6306891 | R$ 853743 | R$ 1299606 | ||
Basic weighted average number of shares outstanding | shares | 1,834,533,000 | 1,834,533,000 | 1,834,533,000 | ||
Dilutive effect of the share-based plan weighted average number of shares outstanding | shares | 4,687,000 | 6,741,000 | 8,530,000 | ||
Diluted weighted average number of shares outstanding | shares | 1,839,220,000 | 1,841,274,000 | 1,843,063,000 | ||
Basic earnings per share | R$ / shares | R$ 3.4407 | R$ 0.4685 | R$ 0.7175 | ||
Diluted earnings per share | R$ / shares | 3.4291 | 0.4637 | 0.7111 | ||
Basic earnings per share from continuing operations | R$ / shares | 3.4407 | 0.4685 | 0.7115 | ||
Diluted earnings per share from continuing operations | R$ / shares | R$ 3.4291 | R$ 0.4637 | R$ 0.7051 | ||
Stock Split, Conversion Ratio | 0.25 | 0.25 | |||
Number of categories of potential dilutive effects | 2 | ||||
Anti-dilutive instruments excluded from computation of earnings per share | shares | 45,765,000 |
Net sales - Analysis of Revenue
Net sales - Analysis of Revenue from Continuing Operations (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |||
Gross revenue from sales of products and services | R$ 30317755 | R$ 24040536 | R$ 23703245 |
Construction revenue | 1,020,176 | 885,630 | 813,341 |
Indirect taxes and deductions | (5,472,930) | (4,488,331) | (3,905,177) |
Net sales | R$ 25865001 | R$ 20437835 | R$ 20611409 |
Net sales - Additional Informat
Net sales - Additional Information (Details - Textual) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |
Period of tariff cycles for natural gas sales, with annual inflation adjustment | 5 years |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | R$ 25865001 | R$ 20437835 | R$ 20611409 |
Elimination [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | (52,681) | (37,888) | (36,971) |
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 | 16,891,471 | 12,492,063 | 12,617,407 |
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 | 10,447,312 | 7,372,957 | 8,636,221 |
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 | 620,495 | 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 | 5,546,093 | 4,283,704 | 3,916,504 |
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 | 277,571 | 59,923 | 64,682 |
Goods or services transferred over time [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 9,026,211 | 7,983,660 | 8,030,973 |
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 | 7,103,706 | 6,680,307 | 6,548,109 |
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 | 335,965 | 285,852 | 351,563 |
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 | 1,020,176 | 885,630 | 813,341 |
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$ 566364 | R$ 131871 | R$ 317960 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Expense By Nature [abstract] | |||
Commodity cost (natural gas) | R$ 6137104 | R$ 3867044 | R$ 4885497 |
Raw materials | (4,631,436) | (3,289,845) | (3,231,169) |
Personnel expenses | (1,997,881) | (2,533,429) | (2,244,252) |
Depreciation and amortization | (2,504,384) | (2,340,854) | (2,287,877) |
Railroad transportation and port elevation expenses | (2,128,043) | (1,897,975) | (1,867,196) |
Electricity purchased for resale | (968,503) | (927,913) | |
Construction cost | (1,020,176) | (885,630) | (813,341) |
Natural gas transportation cost | (1,074,441) | (753,603) | (703,500) |
Other transport | (25,143) | ||
Selling expenses | (23,638) | (23,387) | (26,168) |
Expenses with third-party services | (751,486) | ||
Other | (897,789) | (731,869) | (460,161) |
Total expenses by nature | (22,160,024) | (17,251,549) | (16,519,161) |
Cost of sales | (19,864,248) | (14,999,823) | (14,616,985) |
Selling expenses | (723,419) | (661,907) | (666,114) |
General and administrative expenses | (1,572,357) | (1,589,819) | (1,236,062) |
Total cost and expenses | R$ 22160024 | R$ 17251549 | R$ 16519161 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Analysis of income and expense [abstract] | ||||
Settlement of disputes in the renewal process | [1] | R$ 9242 | R$ 278496 | |
Tax credits | [1] | 287,049 | 132,399 | 165,398 |
Gain (loss) on disposal of non-current assets and intangibles | 7,295 | 30,610 | (35,274) | |
Gain from bargain purchase (Note 9.3) | 416,268 | |||
Reimbursement of natural gas loss in the process | 26,945 | |||
Gain on compensation claims | 50,284 | |||
Net effect of legal proceedings | (263,945) | (32,704) | (105,153) | |
Depreciation of right-of-use | (100,593) | (40,545) | ||
Disposal of credit rights | (68,311) | 410,000 | ||
Change in fair value of investment properties (note 11.5) | 17,116 | |||
Loss on impairment (Note 12.2) | (143,984) | |||
Other | (90,425) | 54,011 | (40,024) | |
Other (expense) income, net | R$ 382600 | R$ 176869 | R$ 404686 | |
[1] | Effect referring to the reversal of lease liabilities in dispute registered, related to labor credits from lawsuits for return, of subsidiary Rumo in the amount of R$ 52,963 ; and waiver of administrative and regulatory proceedings contemplated in the 7 th Addendum to the Concession Agreement Renewal of the concession agreement of subsidiary Comgás in the amount of (R$ 43,721 ). |
Finance Results - Summary of Fi
Finance Results - Summary of Finance Results (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Financial results [abstract] | |||
Interest on debt | R$ 3162853 | R$ 2148322 | R$ 1626911 |
Monetary and exchange rate variation | (1,069,157) | (3,253,446) | (438,430) |
Derivatives and fair value measurement | 2,193,855 | 3,918,848 | 764,816 |
Amortization of borrowing costs | (341,034) | (58,732) | (56,397) |
Guarantees and warranties | 52,082 | 56,079 | 65,207 |
Cost of gross debt | (2,431,271) | (1,597,731) | (1,422,129) |
Income from financial investment and exchange rate in cash and cash equivalents | 600,894 | 369,690 | 407,701 |
Cost of debt, net | (1,830,377) | (1,228,041) | (1,014,428) |
Interest on other receivables | 411,394 | 201,060 | 435,498 |
Monetary variation of other financial assets | (372) | ||
Interest on other payables | (424,946) | (16,293) | (302,620) |
Interest on leases payable | (407,972) | (595,482) | (559,240) |
Interest on shareholders' equity | (8,288) | (4,959) | (18,726) |
Interest on contingencies and contracts | (315,620) | (234,368) | (222,617) |
Bank charges and other | (96,983) | (75,408) | (196,230) |
Foreign exchange, net | 115,607 | (30,505) | (89,260) |
Other charges and monetary variations net | (727,180) | (755,955) | (953,195) |
Finance results, net | (2,557,557) | (1,983,996) | (1,967,623) |
Finance expense | (2,527,506) | (4,727,561) | (3,690,578) |
Finance income | 1,258,441 | 407,710 | 974,604 |
Foreign exchange, net | (1,099,536) | (3,258,656) | (526,946) |
Derivatives | (188,956) | 5,594,511 | 1,275,297 |
Finance results, net | R$ 2557557 | R$ 1983996 | R$ 1967623 |
Post-employment Benefits - Summ
Post-employment Benefits - Summary of Post-employment Benefits (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Health Plan | ||
Post-employment benefits | R$ 669475 | R$ 728734 |
Futura II [member] | Defined contribution [member] | ||
Health Plan | ||
Post-employment benefits | 190 | 186 |
Futura [member] | Defined benefit [member] | ||
Health Plan | ||
Post-employment benefits | 198,761 | 163,972 |
Health plan [member] | Health Plan | ||
Health Plan | ||
Post-employment benefits | R$ 470524 | R$ 564576 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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 | |||
Sponsor contribution to defined contribution plans | R$ 217 | R$ 214 | R$ 215 | |
Weighted average duration of defined benefit obligation | 9 years 7 months 6 days | |||
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. | |||
Defined benefit [member] | CLE [member] | ||||
Health Plan | ||||
Sponsor contribution to defined contribution plans | R$ 5166 | 7,044 | R$ 4349 | |
Defined benefit [member] | CLE [member] | Defined benefit obligation [member] | ||||
Health Plan | ||||
Sponsor contribution to defined contribution plans | 60,560 | |||
Health plan [member] | ||||
Health Plan | ||||
Sponsor contribution to defined contribution plans | R$ 25169 | R$ 26804 | ||
Weighted average duration of defined benefit obligation | 11 years 8 months 12 days | 14 years 10 months 24 days |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of net defined benefit liability (asset) [line items] | |||
Current service cost | R$ 487 | R$ 540 | R$ 480 |
Interest on actuarial obligation | 52,490 | 45,567 | 45,601 |
Actuarial (gain) loss arising from financial assumptions | 183,156 | 58,250 | (211,030) |
Actuarial loss (gain) arising from experience adjustment | (77,112) | (30,267) | 1,216 |
Actuarial loss arising from demographic assumptions | (14) | ||
Employer contributions | (217) | (214) | (215) |
Net defined benefit liability | 669,285 | 728,548 | 704,642 |
Present value of defined benefit obligation [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Beginning balance | 1,249,156 | 1,249,630 | 1,012,792 |
Current service cost | 487 | 540 | 480 |
Interest on actuarial obligation | 88,299 | 89,253 | 91,849 |
Actuarial (gain) loss arising from financial assumptions | (183,159) | (58,250) | 211,030 |
Actuarial loss (gain) arising from experience adjustment | 77,111 | 30,267 | (1,216) |
Actuarial loss arising from demographic assumptions | 14 | ||
Benefit payments | (70,201) | (62,298) | (65,305) |
Ending balance | 1,161,693 | 1,249,156 | 1,249,630 |
Plan assets [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Beginning balance | (520,608) | (544,988) | (433,174) |
Interest on actuarial obligation | (35,809) | (38,452) | (39,299) |
Return on investments in the year (excluding interest income) | 24,143 | 34,370 | (105,417) |
Employer contributions | (30,336) | (33,836) | (32,403) |
Benefit payments | 70,202 | 62,298 | 65,305 |
Ending balance | R$ 492408 | R$ 520608 | R$ 544988 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of net defined benefit liability (asset) [abstract] | |||
Current service cost | R$ 487 | R$ 540 | R$ 480 |
Interest on actuarial obligation | (52,490) | (45,567) | (45,601) |
Total expense recognized in profit or loss | R$ 52977 | 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of net defined benefit liability (asset) [abstract] | |||
Accumulated at the beginning of the year | R$ 59904 | R$ 66305 | R$ 170702 |
Actuarial (gain) loss arising from financial assumptions | 183,156 | 58,250 | (211,030) |
Actuarial loss (gain) arising from experience adjustment | (77,112) | (30,267) | 1,216 |
Actuarial loss arising from demographic assumptions | (14) | ||
Return on investments in the year (excluding interest income) | (24,145) | (34,370) | 105,417 |
Accumulated at the end of the year | R$ 141803 | R$ 59904 | R$ 66305 |
Post-employment Benefits - Su_5
Post-employment Benefits - Summary of Plan Assets (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of fair value of plan assets [line items] | ||
Plan assets at fair value | R$ 484895 | R$ 513650 |
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$ 484847 | R$ 513470 |
Percentage fair value of plan assets | 99.99% | 99.96% |
Other [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets at fair value | R$ 48 | R$ 180 |
Percentage fair value of plan assets | 0.01% | 0.04% |
Post-employment Benefits - Su_6
Post-employment Benefits - Summary of Assumptions to Determine Defined Benefit Obligations (Detail) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Health Plan | ||
Aging factor | 3.00% | |
Defined benefit [member] | Defined benefit [member] | ||
Health Plan | ||
Discount rate (per year) | 8.64% | 7.20% |
Inflation rate (per year) | 3.25% | 3.00% |
Increase in pension plans (per year) | 3.25% | 3.00% |
Health plan [member] | Health Plan | ||
Health Plan | ||
Discount rate (per year) | 9.09% | 7.43% |
Inflation rate (per year) | 3.50% | 3.50% |
Future salary increases | 6.60% | 6.60% |
Increase in pension plans (per year) | 3.00% | 6.60% |
Overall mortality (segregated by gender) | AT-2000 | |
Disable mortality table | IAPB-1957 | |
Entry into disability (modified) | UP-84 Modified | |
Turnover | 0.60/ (services time +1) |
Post-employment Benefits - Su_7
Post-employment Benefits - Summary of Changes in Discount Rate (Detail) R$ in Thousands | Dec. 31, 2021BRL (R$) |
Defined benefit [member] | Defined benefit [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Discount rate, increase | R$ 28170 |
Discount rate, decrease | 30,525 |
Health plan [member] | Health Plan | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Discount rate, increase | (25,019) |
Discount rate, decrease | R$ 27708 |
Post-employment Benefits - Su_8
Post-employment Benefits - Summary of Changes in Discount Rate (Parenthetical) (Detail) | Dec. 31, 2021 |
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 plan (Equity-settled) (Detail) - Equity-settled plans [member] | 12 Months Ended |
Dec. 31, 2021R$ / shares | |
Vesting Conditions [Abstract] | |
Concession Amount Per Share | R$ 0.01 |
Investment Program One [Member] | Performance Stocks [Member] | |
Vesting Conditions [Abstract] | |
Period of Continued Employment Under Service Conditions | 3 years |
Percentage of Achievement to Calculate Fair Value | 100.00% |
Investment Program One [Member] | Performance Stocks [Member] | Bottom of range [member] | |
Vesting Conditions [Abstract] | |
Percentage of Achievement Of Specific Metrics | 0.00% |
Investment Program One [Member] | Performance Stocks [Member] | Top of range [member] | |
Vesting Conditions [Abstract] | |
Percentage of Achievement Of Specific Metrics | 200.00% |
Investment Program Two [Member] | Performance Stocks [Member] | |
Vesting Conditions [Abstract] | |
Period of Continued Employment Under Service Conditions | 4 years |
Percentage of Achievement to Calculate Fair Value | 100.00% |
Investment Program Two [Member] | Performance Stocks [Member] | Bottom of range [member] | |
Vesting Conditions [Abstract] | |
Percentage of Achievement Of Specific Metrics | 0.00% |
Investment Program Two [Member] | Performance Stocks [Member] | Top of range [member] | |
Vesting Conditions [Abstract] | |
Percentage of Achievement Of Specific Metrics | 150.00% |
Investment Program Three [Member] | Restricted Stocks [Member] | |
Vesting Conditions [Abstract] | |
Period of Continued Employment Under Service Conditions | 5 years |
Percentage of Long Term Incentive Program whichIs Equivalent to Restricted Shares | 25.00% |
Rumo S A [member] | Special Program 2021 [Member] | |
Vesting Conditions [Abstract] | |
Period of Continued Employment Under Service Conditions | 5 years |
Rumo S A [member] | Other Than Special Program 2021 [Member] | |
Vesting Conditions [Abstract] | |
Period of Continued Employment Under Service Conditions | 3 years |
Percentage of Achievement to Calculate Fair Value | 100.00% |
Rumo S A [member] | Other Than Special Program 2021 [Member] | Bottom of range [member] | |
Vesting Conditions [Abstract] | |
Percentage of Achievement Of Specific Metrics | 0.00% |
Rumo S A [member] | Other Than Special Program 2021 [Member] | Top of range [member] | |
Vesting Conditions [Abstract] | |
Percentage of Achievement Of Specific Metrics | 150.00% |
Share-based Payment - Summary_2
Share-based Payment - Summary of Share-based Payment Arrangements (Detail) - shares | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | [1] | Dec. 31, 2019 | [1] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of share options granted | 11,531,359 | 3,131,000 | |||
Number of share options granted | 28,984,479 | ||||
Exercised /canceled /transferred | (13,391,968) | ||||
Number Of Outstanding Share options | 15,592,511 | 10,536,790 | 11,478,287 | ||
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 | 9,946,886 | ||||
Exercised /canceled /transferred | (2,145,646) | ||||
Number Of Outstanding Share options | 7,801,240 | ||||
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 | 1,096,000 | ||||
Exercised /canceled /transferred | (954,028) | ||||
Number Of Outstanding Share options | 141,972 | ||||
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 | 1,192,428 | ||||
Exercised /canceled /transferred | (396,848) | ||||
Number Of Outstanding Share options | 795,580 | ||||
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 | 842,408 | ||||
Exercised /canceled /transferred | (107,576) | ||||
Number Of Outstanding Share options | 734,832 | ||||
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 | 229,020 | ||||
Exercised /canceled /transferred | (20,080) | ||||
Number Of Outstanding Share options | 208,940 | ||||
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 | 68,972 | ||||
Exercised /canceled /transferred | (6,704) | ||||
Number Of Outstanding Share options | 62,268 | ||||
Cosan S.A. [member] | Stock grant programs [member] | July 31, 2021 | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | July 31, 2021 | ||||
Company | Cosan S.A. | ||||
Expected life (years) | 3 years | ||||
Number of share options granted | 424,839 | ||||
Exercised /canceled /transferred | |||||
Number Of Outstanding Share options | 424,839 | ||||
Cosan S.A. [member] | Stock grant programs [member] | September 10, 2021 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | September 10, 2021 | ||||
Company | Cosan S.A. | ||||
Expected life (years) | 4 years | ||||
Number of share options granted | 5,283,275 | ||||
Exercised /canceled /transferred | (660,410) | ||||
Number Of Outstanding Share options | 4,622,865 | ||||
Cosan S.A. [member] | Stock grant programs [member] | October 11, 2021 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | October 11, 2021 | ||||
Company | Cosan S.A. | ||||
Expected life (years) | 5 years | ||||
Number of share options granted | 809,944 | ||||
Exercised /canceled /transferred | |||||
Number Of Outstanding Share options | 809,944 | ||||
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 | 6,470,410 | ||||
Exercised /canceled /transferred | (6,470,410) | ||||
Number Of Outstanding Share options | |||||
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 | 6,006,504 | ||||
Exercised /canceled /transferred | (6,006,504) | ||||
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 | (463,906) | ||||
Number Of Outstanding Share options | |||||
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 | (14,794) | ||||
Number Of Outstanding Share options | 68,889 | ||||
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 | (61,300) | ||||
Number Of Outstanding Share options | |||||
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 | (97,780) | ||||
Number Of Outstanding Share options | |||||
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 | (17,761) | ||||
Number Of Outstanding Share options | 79,026 | ||||
Comgas [member] | Cash Settled Transactions [Member] | November 1st, 2021 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | st</span></sup>, <span>2021</span>" id="sjs-B130">November 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span> | ||||
Company | Comgás | ||||
Expected life (years) | 3 years | ||||
Number of share options granted | 172,251 | ||||
Exercised /canceled /transferred | |||||
Number Of Outstanding Share options | 172,251 | ||||
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 1, 2020 | ||||
Company | Compass Gás e Energia | ||||
Expected life (years) | 5 years | ||||
Number of share options granted | 1,858,969 | ||||
Exercised /canceled /transferred | (1,858,969) | ||||
Number Of Outstanding Share options | |||||
Compass Gas E Energia S A [Member] | Cash Settled Transactions [Member] | August 1st, 2021 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | st</span></sup>, <span>2021</span>" id="sjs-B146">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span> | ||||
Company | Compass Gás e Energia | ||||
Expected life (years) | 2 years | ||||
Number of share options granted | 26,625 | ||||
Exercised /canceled /transferred | |||||
Number Of Outstanding Share options | 26,625 | ||||
Compass Gas E Energia S A [Member] | Cash Settled Transactions [Member] | August 1st, 2021, Two [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | st</span></sup>, <span>2021</span>" id="sjs-B154">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span> | ||||
Company | Compass Gás e Energia | ||||
Expected life (years) | 3 years | ||||
Number of share options granted | 152,770 | ||||
Exercised /canceled /transferred | |||||
Number Of Outstanding Share options | 152,770 | ||||
Compass Gas E Energia S A [Member] | Cash Settled Transactions [Member] | November 1st, 2021 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | st</span></sup></sup>, <span>2021</span>" id="sjs-B162">November 1<sup><sup><span style="vertical-align: super;">st</span></sup></sup>, <span>2021</span> | ||||
Company | Compass Gás e Energia | ||||
Expected life (years) | 3 years | ||||
Number of share options granted | 1,474,367 | ||||
Exercised /canceled /transferred | |||||
Number Of Outstanding Share options | 1,474,367 | ||||
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 | (2,050,604) | ||||
Number Of Outstanding Share options | 147,915 | ||||
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 | 8,157,131 | ||||
Exercised /canceled /transferred | (2,725,308) | ||||
Number Of Outstanding Share options | 5,431,823 | ||||
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 | (308,417) | ||||
Number Of Outstanding Share options | 841,127 | ||||
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 | (1,476,000) | ||||
Number Of Outstanding Share options | |||||
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 | (255,250) | ||||
Number Of Outstanding Share options | 615,650 | ||||
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 | (147,214) | ||||
Number Of Outstanding Share options | 695,938 | ||||
Rumo S.A. [member] | Stock grant programs [member] | November 11, 2020 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | November 11, 2020 | ||||
Company | Rumo | ||||
Expected life (years) | 5 years | ||||
Number of share options granted | 776,142 | ||||
Exercised /canceled /transferred | (115,303) | ||||
Number Of Outstanding Share options | 660,839 | ||||
Rumo S.A. [member] | Stock grant programs [member] | May 05, 2021 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | May 05, 2021 | ||||
Company | Rumo | ||||
Expected life (years) | 5 years | ||||
Number of share options granted | 1,481,000 | ||||
Exercised /canceled /transferred | (414,702) | ||||
Number Of Outstanding Share options | 1,066,298 | ||||
Rumo S.A. [member] | Stock grant programs [member] | September 15, 2021 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | September 15, 2021 | ||||
Company | Rumo | ||||
Expected life (years) | 3 years | ||||
Number of share options granted | 1,560,393 | ||||
Exercised /canceled /transferred | (8,422) | ||||
Number Of Outstanding Share options | 1,551,971 | ||||
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 | ||||
Moove [member] | Cash Settled Transactions [Member] | July 31, 2021 | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | July 31, 2021 | ||||
Company | Moove | ||||
Expected life (years) | 3 years | ||||
Number of share options granted | 80,729 | ||||
Exercised /canceled /transferred | |||||
Number Of Outstanding Share options | 80,729 | ||||
Compas Comercializacao [Member] | Cash Settled Transactions [Member] | August 1st, 2021 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | st</span></sup>, <span>2021</span>" id="sjs-B260">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span> | ||||
Company | Compass Comercialização | ||||
Expected life (years) | 2 years | ||||
Number of share options granted | 31,535 | ||||
Exercised /canceled /transferred | |||||
Number Of Outstanding Share options | 31,535 | ||||
TRSP [Member] | Cash Settled Transactions [Member] | August 1st, 2021 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Type of award / Grant date | st</span></sup>, <span>2021</span>" id="sjs-B268">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span> | ||||
Company | TRSP | ||||
Expected life (years) | 3 years | ||||
Number of share options granted | 33,634 | ||||
Exercised /canceled /transferred | |||||
Number Of Outstanding Share options | 33,634 | ||||
Moove Compass Gas E Energia Compass Comercializacao TRSP and Comgas [Member] | Cash Settled Transactions [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of share options granted | 2,211,533 | ||||
Exercised /canceled /transferred | |||||
Number Of Outstanding Share options | 2,211,533 | ||||
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] | 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] | August 31, 2015 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Expected life (years) | 7 years | ||||
[1] | On May 6, 2021, the Company split the issued shares, in the proportion of 1:4 |
Share-based Payment - Summary_3
Share-based Payment - Summary of Weighted Average Fair Value of Programs Granted and Principal Assumptions used in Applying Black-Scholes Model (Detail) - R$ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cosan S.A. Industria e Comercio [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share price at grant date | R$ 23.2 | R$ 83.73 |
Risk-free interest rate | 6.82% | 6.94% |
Volatility factor | 36.50% | 36.50% |
Rumo S.A. [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share price at grant date | R$ 18.2 | R$ 20.01 |
Risk-free interest rate | 6.94% | 6.94% |
Volatility factor | 26.51% | 36.50% |
Comgas [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share price at grant date | R$ 78.58 | |
Risk-free interest rate | 6.82% | 6.94% |
Volatility factor | 32.81% | 32.81% |
Compass Gas e Energia [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share price at grant date | R$ 27.27 | R$ 13.58 |
Share-based Payment - Summary_4
Share-based Payment - Summary of Number and Weighted-average Exercise Prices of Share Options (Detail) - shares | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Stock option programs, Beginning balance | [1] | 10,536,790 | 11,478,287 | |
Stock option programs, Granted | 11,531,359 | 3,131,000 | [1] | |
Stock option programs, Vested | (6,200,231) | (3,875,167) | [1] | |
Stock option programs, Cancelled | (275,407) | (197,330) | [1] | |
Stock option programs, Ending balance | 15,592,511 | 10,536,790 | [1] | |
[1] | On May 6, 2021, the Company split the issued shares, in the proportion of 1:4 |
Share-based Payment - Summary_5
Share-based Payment - Summary of Share-based Compensation Expense (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | 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$ 84052 | R$ 293011 | R$ 96212 |
Share-based Payment - Additiona
Share-based Payment - Additional Information (Detail) | May 06, 2021 | Apr. 30, 2021 | Dec. 31, 2021 |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock Split, Conversion Ratio | 0.25 | 0.25 | |
Cash Settled Transactions [Member] | Moove Lubricants Limited [member] | Phantom shares | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vesting period of share-based payment arrangement | 5 years | ||
Period of continued employment under service conditions | 5 years |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - BRL (R$) R$ in Thousands | May 09, 2022 | May 06, 2022 | Apr. 29, 2022 | Dec. 31, 2021 |
Subsequent events | ||||
Amount of shares authorized | R$ 7000000 | |||
Second tranche | ||||
Subsequent events | ||||
Aggregate principal amount | R$ 1100000 | |||
Borrowings, interest rate basis | 1.90</span>%" id="sjs-C7">CDI plus <span style="border-left: none; border-right: none;">1.90</span>% | |||
Maturity | May 2032 | |||
Extraordinary Shareholders’ Meeting | ||||
Subsequent events | ||||
Approval amount of increase in share capital | R$ 2036691 | |||
Amount of shares authorized | R$ 9000000 | |||
Debentures issued | ||||
Subsequent events | ||||
Aggregate principal amount | R$ 1500000 | |||
Debentures issued | First tranche | ||||
Subsequent events | ||||
Aggregate principal amount | R$ 400000 | |||
Borrowings, interest rate basis | 1.50</span>%" id="sjs-C19">CDI plus <span style="border-left: none; border-right: none;">1.50</span>% | |||
Maturity | May 2028 | |||
New share buyback program | ||||
Subsequent events | ||||
Number of shares buyback authorised | 110,000,000 | |||
Percentage of buyback shares represent total shares | 5.87% | |||
Maturity term of buyback shares | 18 months |
Operations - Additional Informa
Operations - Additional Information (Detail) | Mar. 28, 2019 |
Disclosure of background and operations [Line Items] | |
Contractual Term | 30 years |
Financial Assets and Liabili_45
Financial Assets and Liabilities - Summary of movement of the obligation with preferred shareholders (Detail) R$ in Thousands | Dec. 31, 2021BRL (R$) |
Disclosure Of Movement Obligation With Preferred Shareholders [Line Items] | |
Beginning balance | R$ 387044 |
Ending balance |