Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2022 shares | |
Entity Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Entity Registrant Name | COSAN S.A. |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Entity Central Index Key | 0001430162 |
Current Fiscal Year End Date | --12-31 |
Document Period End Date | Dec. 31, 2022 |
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 | 1,874,070,932 |
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 Ltda. |
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, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and cash equivalents | R$ 13301716 | R$ 16174130 |
Restricted cash | 8,024 | |
Marketable securities | 2,422,470 | 4,372,696 |
Trade receivables | 3,769,908 | 2,580,776 |
Derivative financial instruments | 1,086,698 | 194,878 |
Inventories | 1,869,059 | 1,149,304 |
Receivables from related parties | 235,541 | 98,280 |
Income tax receivable | 560,789 | 442,957 |
Other current tax receivable | 1,324,203 | 921,472 |
Dividend receivable | 161,147 | 519,965 |
Sectorial financial assets | 148,955 | 489,601 |
Other financial assets | 88,961 | 466 |
Other current assets | 560,080 | 348,658 |
Total current assets before held for sale | 25,537,551 | 27,293,183 |
Current assets held for sale | 40,383 | |
Current assets | 25,577,934 | 27,293,183 |
Trade receivables | 157,634 | 165,077 |
Marketable securities | 19,677,296 | 15,311 |
Restricted cash | 131,909 | 58,990 |
Deferred tax assets | 4,474,124 | 3,051,628 |
Receivables from related parties | 241,001 | 318,211 |
Income tax receivable | 434,886 | 344,059 |
Other non-current tax receivable | 1,074,923 | 1,879,695 |
Judicial deposits | 814,444 | 923,061 |
Derivative financial instruments | 3,065,054 | 4,538,048 |
Sectorial financial assets | 193,378 | 68,709 |
Other non-current assets | 201,811 | 179,598 |
Other financial assets | 277 | 319,727 |
Investments in associates | 2,913,943 | 780,067 |
Investment in joint venture | 11,221,356 | 10,936,663 |
Property, plant and equipment | 18,948,436 | 16,648,553 |
Contract asset | 1,118,715 | 705,982 |
Right-of-use assets | 8,012,869 | 7,947,267 |
Investment property | 14,103,060 | 3,886,696 |
Intangible assets and goodwill | 22,121,942 | 17,781,498 |
Non-current assets | 108,907,058 | 70,548,840 |
Total assets | 134,484,992 | 97,842,023 |
Liabilities | ||
Loans, borrowings and debentures | 4,542,205 | 4,241,368 |
Leases | 550,529 | 405,820 |
Derivative financial instruments | 1,039,357 | 925,650 |
Trade payables | 4,318,362 | 3,253,504 |
Employee benefits payables | 659,521 | 552,991 |
Income tax payables | 204,387 | 71,224 |
Other taxes payable | 760,041 | 536,220 |
Dividends payable | 892,006 | 799,634 |
Concessions payable | 256,759 | 160,771 |
Related party payables | 387,736 | 287,609 |
Sectorial financial liabilities | 67,419 | 85,866 |
Other financial liabilities | 924,562 | 726,423 |
Other current liabilities | 1,195,329 | 909,956 |
Current Liabilities | 15,798,213 | 12,957,036 |
Loans, borrowings and debentures | 48,445,011 | 41,417,669 |
Leases | 2,981,629 | 2,861,858 |
Derivative financial instruments | 4,251,575 | 150,511 |
Trade payables | 61,489 | |
Other taxes payable | 153,688 | 146,889 |
Provision for legal proceedings | 1,801,186 | 1,644,061 |
Concessions payable | 3,094,651 | 2,893,477 |
Post-employment benefits | 575,840 | 669,475 |
Deferred tax liabilities | 5,469,368 | 3,818,056 |
Sectorial financial liabilities | 1,549,197 | 1,286,417 |
Deferred revenue | 624,801 | 36,440 |
Other financial liabilities | 29,985 | |
Other non-current liabilities | 1,478,960 | 1,090,112 |
Non-current liabilities | 70,517,380 | 56,014,965 |
Total liabilities | 86,315,593 | 68,972,001 |
Shareholders' equity | ||
Share capital | 8,402,544 | 6,365,853 |
Treasury shares | (107,140) | (69,064) |
Additional paid-in capital | 2,319,928 | (1,690,235) |
Accumulated other comprehensive income (loss) | 567,546 | (521,609) |
Retained earnings | 9,470,289 | 10,655,992 |
Equity attributable to: | ||
Owners of the Company | 20,653,167 | 14,740,937 |
Non-controlling interests | 27,516,232 | 14,129,085 |
Total shareholders' equity | 48,169,399 | 28,870,022 |
Total liabilities and shareholders' equity | R$ 134484992 | R$ 97842023 |
Consolidated statement of profi
Consolidated statement of profit or loss and other comprehensive income - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Consolidated statement of profit or loss and other comprehensive income | |||
Net sales | R$ 39737368 | R$ 25865001 | R$ 20437835 |
Cost of sales | (30,753,137) | (19,864,248) | (14,999,823) |
Gross profit | 8,984,231 | 6,000,753 | 5,438,012 |
Selling expenses | (1,276,279) | (723,419) | (661,907) |
General and administrative expenses | (1,976,331) | (1,572,357) | (1,589,819) |
Other income, net | 1,752,222 | 382,600 | 176,869 |
Operating expenses | (1,500,388) | (1,913,176) | (2,074,857) |
Profit before equity in earnings of investees, finance results and income taxes | 7,483,843 | 4,087,577 | 3,363,155 |
Interest in earnings of associates | 468,743 | 130,225 | 28,801 |
Interest in earnings of joint venture | (92,179) | 4,590,631 | 583,001 |
Equity in earnings of investees | 376,564 | 4,720,856 | 611,802 |
Finance expense | (4,706,535) | (2,527,506) | (4,727,561) |
Finance income | 5,777,521 | 1,258,441 | 407,710 |
Foreign exchange, net | 260,746 | (1,099,536) | (3,258,656) |
Net effect of derivatives | (6,489,668) | (188,956) | 5,594,511 |
Finance results, net | (5,157,936) | (2,557,557) | (1,983,996) |
Profit before income taxes | 2,702,471 | 6,250,876 | 1,990,961 |
Income taxes | |||
Current | (1,246,990) | (787,602) | (941,363) |
Deferred | 1,365,394 | 1,233,186 | 438,696 |
Income Taxes | 118,404 | 445,584 | (502,667) |
Profit for the year | 2,820,875 | 6,696,460 | 1,488,294 |
Items that will not be reclassified to profit or loss | |||
Actuarial gain (loss) on defined benefit plan | 80,331 | 63,382 | (55,777) |
Taxes over actuarial gain (loss) on defined benefit plan | (27,313) | (21,550) | 18,964 |
Items that will never be reclassified to profit or loss | 53,018 | 41,832 | (36,813) |
Items that are or may be reclassified subsequently to profit or loss | |||
Foreign currency translation differences | 917,548 | 89,848 | (42,767) |
Gain (loss) on cash flow hedge | 723 | (601,415) | (526,099) |
Change in fair value of financial assets, net of taxes | 22,395 | 2,269 | 278 |
Items that are or may be reclassified subsequently to profit or loss | 940,666 | (509,298) | (568,588) |
Total other comprehensive income (loss), net of tax | 993,684 | (467,466) | (605,401) |
Total comprehensive income for the year | 3,814,559 | 6,228,994 | 882,893 |
Profit attributable to: | |||
Owners of the Company | 1,176,032 | 6,312,140 | 859,482 |
Non-controlling interests | 1,644,843 | 384,320 | 628,812 |
Profit for the year | 2,820,875 | 6,696,460 | 1,488,294 |
Total comprehensive income attributable to: | |||
Owners of the Company | 2,264,811 | 5,932,760 | 140,926 |
Non-controlling interests | 1,549,748 | 296,234 | 741,967 |
Total comprehensive income for the year | R$ 3814559 | R$ 6228994 | R$ 882893 |
Earnings per share | |||
Basic | R$ 0.6292 | R$ 3.4407 | R$ 0.4685 |
Diluted | R$ 0.6264 | R$ 3.4291 | R$ 0.4637 |
Consolidated statement of chang
Consolidated statement of changes in equity - BRL (R$) R$ in Thousands | Total | Share capital [member] | Treasury shares [member] | Additional paid-in capital [member] | Accumulated other comprehensive income (loss) [member] | Retained earnings [member] | Equity attributable to owners of the company [member] | Non-controlling interest [member] | |
Beginning balance at Dec. 31, 2019 | R$ 16240481 | R$ 5328 | R$ 887165 | R$ 805471 | R$ 5314843 | R$ 5401865 | R$ 10838616 | ||
Profit for the year | 1,488,294 | 859,482 | 859,482 | 628,812 | |||||
Other comprehensive income | |||||||||
Gain (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 gain (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 (Notes 1.3 and 16) | 6,666 | 6,666 | |||||||
Dividends - non-controlling interests | (1,374) | (15,951) | (15,951) | 14,577 | |||||
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 | |||||
Share based payments | 272,692 | 272,692 | 272,692 | ||||||
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 | |||||||||
Gain (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 gain (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 (Notes 1.3 and 16) | 2,252,306 | 2,252,306 | |||||||
Dividends - non-controlling interests | (2,493) | (2,493) | (2,493) | ||||||
Dividends | (2,031,301) | (1,866,393) | (1,866,393) | (164,908) | |||||
Business Combination (Note 8.3) | 2,115,554 | 2,115,554 | |||||||
Disposal of treasury shares | 3,650 | R$ 496741 | 3,825 | (496,916) | 3,650 | ||||
Share based payments | (2,719) | 18,136 | (36,708) | (18,572) | 15,853 | ||||
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 | [1] | 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 | 28,870,022 | 6,365,853 | (69,064) | (1,690,235) | (521,609) | 10,655,992 | 14,740,937 | 14,129,085 | |
Profit for the year | 2,820,875 | 1,176,032 | 1,176,032 | 1,644,843 | |||||
Other comprehensive income | |||||||||
Gain (loss) on cash flow hedge | 723 | 58 | 58 | 665 | |||||
Foreign currency translation differences | 917,548 | 1,032,232 | 1,032,232 | (114,684) | |||||
Actuarial gain (loss) on defined benefit plan | 53,018 | 45,721 | 45,721 | 7,297 | |||||
Change in fair value of financial assets | 22,395 | 11,144 | 11,144 | 11,251 | |||||
Total comprehensive income for the year | 3,814,559 | 1,089,155 | 1,176,032 | 2,265,187 | 1,549,372 | ||||
Transactions with owners of the Company Contributions and distributions | |||||||||
Capital increase (Notes 1.3 and 16) | 7,889,251 | 2,036,691 | (2,036,691) | 7,889,251 | |||||
Dividends | (1,237,779) | (325,044) | (325,044) | (912,735) | |||||
Business Combination (Note 8.3) | 10,062,503 | 10,062,503 | |||||||
Employee share schemes – value of employee services | 62,394 | 55,391 | 55,391 | 7,003 | |||||
Sale of treasury shares (Note 16) | 2,370 | 1,752 | 618 | 2,370 | |||||
Acquisition of treasury shares (Note 16) | (59,506) | (59,506) | (59,506) | ||||||
Share based payments | (5,616) | 19,678 | (30,930) | (11,252) | 5,636 | ||||
Total contributions and distributions | 16,713,617 | 2,036,691 | (38,076) | 25,079 | (2,361,735) | (338,041) | 17,051,658 | ||
Changes in ownership interests | |||||||||
Acquisition of non-controlling interest | (1,092,374) | (1,092,374) | |||||||
Change of shareholding interest in subsidiary | (136,425) | 3,985,084 | 3,985,084 | (4,121,509) | |||||
Total changes in ownership interests | (1,228,799) | 3,985,084 | 3,985,084 | (5,213,883) | |||||
Total transactions with owners of the Company | 15,484,818 | 2,036,691 | (38,076) | 4,010,163 | (2,361,735) | 3,647,043 | 11,837,775 | ||
Ending balance at Dec. 31, 2022 | R$ 48169399 | R$ 8402544 | R$ 107140 | R$ 2319928 | R$ 567546 | R$ 9470289 | R$ 20653167 | R$ 27516232 | |
[1]The predecessor adjustments amount to the difference between the Cosan Limited balance as of February 28, 2021 and the Cosan S.A. balance subsequent to the Corporate Reorganization (see Note 2.2 |
Consolidated statement of cash
Consolidated statement of cash flows - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities | |||
Profit before income taxes | R$ 2702471 | R$ 6250876 | R$ 1990961 |
Adjustments for: | |||
Depreciation and amortization | 3,014,480 | 2,504,384 | 2,340,854 |
Lease and concession reversal provision | 0 | 0 | (379,636) |
Interest in earnings of associates | (468,743) | (130,225) | (28,801) |
Interest in earnings of joint venture | 92,179 | (4,590,631) | (583,001) |
Loss (gain) on disposed assets | 13,035 | (7,295) | (30,610) |
Share-based payment | 99,088 | 53,131 | 272,692 |
Legal proceedings provision | 370,765 | 263,945 | 27,437 |
Interest and foreign exchange, net | 6,521,930 | 2,911,179 | 2,111,772 |
Sectorial financial assets and liabilities, net | 339,854 | 246,100 | 337,620 |
Deferred revenue | 0 | 0 | (6,325) |
Provision for employee benefits | 380,967 | 358,053 | 161,042 |
Allowance for expected credit losses | 28,463 | (2,813) | 32,098 |
Disposal of credit rights | 0 | 0 | 68,311 |
Tax credit recovery | (110,541) | (648,315) | (132,399) |
(Gain) loss on energy derivative transactions | (248,123) | 58,701 | 0 |
Change in fair value of investment properties | (1,311,691) | (17,116) | 0 |
Results from the sale of investments | (988,077) | 0 | 0 |
Bargain purchase gain | (99,341) | (416,268) | 0 |
Other | 343,712 | (23,731) | 436,260 |
Cash flows from operating activities before changes in working capital | 10,680,428 | 6,809,975 | 6,618,275 |
Variation in: | |||
Trade receivable | (6,327) | (404,016) | 67,291 |
Inventories | (423,430) | (245,174) | (117,166) |
Other taxes, net | 553,584 | 155,712 | 74,949 |
Income tax | (1,090,684) | (950,401) | (868,234) |
Related parties, net | (139,621) | (111,149) | 572,601 |
Trade payables | 510,616 | 591,975 | 167,019 |
Employee benefits | (249,244) | (150,087) | (170,133) |
Provision for legal proceedings | (328,394) | (131,260) | (212,699) |
Other financial liabilities | 110,659 | 50,856 | (91,935) |
Judicial deposits | (2,670) | (58,608) | (23,493) |
Deferred revenue | 592,601 | 0 | 0 |
Cash paid on disposal of credit rights | 0 | 0 | (31,857) |
Financial instruments derivatives | (65,939) | 0 | 0 |
Purchase of tax credits | 0 | (208,118) | 0 |
Post-employment benefit | (90,411) | (34,004) | (37,444) |
Other assets and liabilities, net | (78,936) | 0 | (238,320) |
Concessions payable | 0 | (168,510) | (51,947) |
Changes in working capital | (708,196) | (1,662,784) | (961,368) |
Net cash generated from operating activities | 9,972,232 | 5,147,191 | 5,656,907 |
Cash flow from investing activities | |||
Capital contribution to associates | (86,205) | (417,216) | (1,142) |
Acquisition of subsidiary, net of acquired cash | (5,288,696) | (592,733) | (94,631) |
Purchase of marketable securities | (13,911,737) | (514,459) | (483,574) |
Restricted cash | (58,179) | 26,313 | 124,330 |
Dividends received from associates | 323,096 | 16,426 | 13,165 |
Dividends received from joint venture | 1,174,771 | 819,729 | 1,852 |
Acquisition of instruments designated at fair value | (190,990) | (14,168) | 11 |
Acquisition of property, plant and equipment, intangible and contract assets | (4,531,374) | (4,774,839) | (4,034,688) |
Proceeds from the sale of investments | 1,969,789 | 0 | 0 |
Acquisition of shares in associates | 0 | 0 | (51,299) |
Cash received on the sale of property, plant and equipment and intangible assets | 9,319 | 3,090 | 3,045 |
Other | 0 | 1,025 | (194) |
Net cash used in investing activities | (20,590,206) | (5,446,832) | (4,523,125) |
Cash flow from financing activities | |||
Proceeds from loans, borrowings and debentures | 23,886,960 | 12,548,547 | 10,336,257 |
Principal repayment of loans, borrowings and debentures | (15,278,378) | (9,925,067) | (3,397,060) |
Payment of interest on loans, borrowings and debentures | (3,441,978) | (2,321,868) | (1,782,976) |
Capital reduction in subsidiaries | (19,217) | 0 | 0 |
Payment of derivative financial instruments | (2,079,805) | (647,168) | (61,716) |
Proceeds from derivative financial instruments | 291,619 | 4,325,918 | 1,383,411 |
Payment of derivative financial instruments, except debt | (283,337) | (227,012) | (101,461) |
Proceeds from derivative financial instruments, except debt | 146,979 | 197,679 | 106,519 |
Principal repayment of leases | (400,248) | (461,040) | (5,424,917) |
Payment of interest on leases | (211,611) | (165,301) | (500,922) |
Proceeds from capital contributions by non-controlling shareholders | 8,126,823 | 2,252,306 | 4,397,772 |
Payments to redeem entity’s shares and acquisition of treasury shares | (84,591) | (26,101) | (495,048) |
Transaction costs related to loans and financing | (94,196) | 0 | 0 |
Proceeds from the sale of treasury shares | 2,370 | 69,155 | 65,478 |
Acquisition of non-controlling shareholders’ shares | (487,721) | (698,147) | (269,977) |
Dividends paid | (1,908,171) | (2,558,886) | (546,302) |
Payment of share-based compensation | (15,597) | (45,024) | (22,804) |
Other | 0 | 1,397 | 0 |
Net cash generated from financing activities | 8,149,901 | 2,319,388 | 3,686,254 |
(Decrease) increase in cash and cash equivalents | (2,468,073) | 2,019,747 | 4,820,036 |
Cash and cash equivalents at the beginning of the year | 16,174,130 | 13,642,918 | 8,472,274 |
Effect of the foreign exchange rate changes | (404,341) | 511,465 | 350,608 |
Cash and cash equivalents at the end of the year | 13,301,716 | 16,174,130 | 13,642,918 |
Additional information | |||
Income tax paid | R$ 318845 | R$ 462120 | R$ 592243 |
Consolidated statement of cas_2
Consolidated statement of cash flows (Parenthetical) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
North South Railroad Concession Agreement [Member] | |||
Statement [LineItems] | |||
Right-of-use assets recognized | R$ 246517 | R$ 104840 | R$ 3522469 |
Construction in progress [member] | |||
Statement [LineItems] | |||
Payment for acquisition of assets in installments | R$ 246564 | R$ 263143 | R$ 297002 |
OPERATIONS AND CORPORATE REORGA
OPERATIONS AND CORPORATE REORGANIZATION | 12 Months Ended |
Dec. 31, 2022 | |
OPERATIONS AND CORPORATE REORGANIZATION | |
OPERATIONS AND CORPORATE REORGANIZATION | 1 NS AND CORPORATE REORGANIZATION Cosan S.A. (“Cosan” and together with its subsidiaries collectively, the “Company”) is a publicly traded Company on the B 3 3 3 1.1 CORPORATE REORGANIZATION On January 22, 2021, the shareholders of Cosan Limited, the former parent Company of Cosan S.A. and Cosan Logística, approved an intra-group reorganization, announced on July 3, 2020, consisting of a merger of companies under common control, as provided by art. 264 4 6,404 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 B 3 The following charts set forth simplified representations of our operating structure before and after the corporate reorganization. Figure 1 Figure 2 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 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. 1.2 COMPANY HISTORY 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. The purpose of these acquisitions was 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 was created to provide gas and power solutions in Brazil. The Gas and Power segment focuses on four pillars: ( 1 2 3 4 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 (Agência Nacional de Transportes Terrestres). The amendment was reviewed and authorized by the Federal Accounting Court ( Tribunal de Contas da União 009.032 2016 9 2058 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. On July 11, 2022, Compass Gás e Energia acquired 51% of Petrobras Gás S.A.’s (“Gaspetro”) share capital. On July 12, 2022, the change of Gaspetro's corporate name to Commit Gás e Energia S.A. ("Commit") was announced. See Note 8.3 The distributors that were classified as available-for-sale assets on the Commit acquisition date were sold to the shareholders who held the preemptive right, as presented below: Date of sale Acquirer Acquiree Participation Value 07/21/2022 State of Paraíba PBGas 41.50% 47,251 07/21/2022 Termogás S.A. Cebgás 24.00% 561 07/22/2022 State of Alagoas Algás (i) 12.06% 27,067 07/25/2022 State of Bahia BahiaGas 41.50% 574,778 07/26/2022 State of Ceara Cegás (ii) 12.06% 76,399 07/29/2022 Brasilia Energy Company Cebgás 8.00% 187 11/08/2022 Termogás S.A. Gasap 37.25% 297 11/08/2022 Termogás S.A. Gaspisa 22.11% 398 11/08/2022 Termogás S.A. Rongás 41.50% 504 11/08/2022 Termogás S.A. GoiásGas 30.46% 663 12/21/2022 State of Piauí Gaspisa 15.14% 437 728,542 (i) After the State of Alagoas exercised its right of preference, Commit retained a 29.44 (ii) After the State of exercised its right of preference, Commit retained a 29.44 . 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 "Shell" brand with Shell Brands International AG. With this renewal, Raízen S.A. keeps the right to use the “Shell” brand, in the fuel distribution sector and related activities in Brazil, for a minimum period of 13 years, which can be renewed in certain cases, upon compliance with certain conditions established in the contract. On May 31, 2021, the subsidiary Compass Gás e Energia entered into an investment agreement with Atmos Ilíquidos 1 one 3 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.), with the exception of two common shares that were retained by Cosan Investimentos e Participações S.A. and Shell Brasil Holding BV (“Shell”). On the same date, Raízen Energia also redeemed all of its own class B preferred shares. As a result, Raízen S.A. became the controlling holding Company of Raízen Energia (“Raízen Reorganization”). As a result of the Raizen Reorganization, Cosan S.A. and Shell terminated the Raízen Energia shareholders’ agreement and amended the Raízen S.A. shareholders’ agreement to reflect the effects of the Raizen Reorganization. The Raizen Reorganization did not have any impact in the Company’s financial statements. On June 3, 2021, Raízen S.A., completed its registration with the Brazilian Securities Commission ( Comissão de Valores Mobiliários 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’s financial debts, with the remaining balance of such debts of Biosev being paid with funds from a new financing contracted by Hédera Investimentos e Participações S.A., or “Hédera”. Also, as part of the transaction Hédera exercised the subscription bonus in amount of R$2,423,944, adjusted to market value on the transaction date by the amount of R$76,663, totaling R$2,347,281, issued at the Company’s general meeting held on June 1, 2021, becoming holder of 330,602,900 preferred shares issued by Raízen, representing approximately 3.22% of its share capital. Biosev’s main activities are the production, processing and sale of rural and agricultural products, mainly sugarcane and its derivatives, generation and sale of energy as well, as derivatives from energy cogeneration. This business combination is in line with Raízen’s strategy of leading the transformation of the energy matrix with its own technology, by expanding the crushing capacity and increasing the share of renewable products in our portfolio. 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,” (owner of 51% interest) and the other minority shareholders jointly holding a 49% interest. On February 11, 2022, the acquisition was completed which resulted in the Company holding 100% of the equity interest in Porto São Luis. For more information, see Note 8.3 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 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’s net assets were represented by the investment in Raízen S.A., the effect in the Company’s consolidated financial statements was a reclassification between the lines of “Investments in associates” to “Investment in joint venture.” 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 8.3 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 3 On January 3, 2022, the subsidiary Compass Um Participações S.A. (“Compass Um”) purchased 51% of the share capital of Companhia de Gás do Estado do Rio Grande do Sul (“Sulgás”). See Note 8.3 On May 23 and 31 2022 8.3 On September 30, 2022, the Company entered into a Share Purchase Agreement with Nova Gaia Brasil Participações Ltda. and Terraviva Brasil Participações Ltda. for the acquisition of an additional 12.4% equity interest in Tellus Brasil Participações S.A. (“Tellus”), Duguetiapar Empreendimentos e Participações (“Duguetiapar”) and Gamiovapar Empreendimentos e Participações S.A. (“Gamiovapar”). Additionally, the Company entered into a Share Purchase Agreement with Helios Brasil Participações Ltda. and Iris Brasil Participações Ltda. for the acquisition of an additional 12.4% equity interest in Janus Brasil Participações S.A. (“Janus”). The transaction was completed on October 20, 2022. See Note 8.3 On November 14, 2022, the subsidiary Rumo concluded the sale of 80 16 19 20 1.3 RECENT DEVELOPMENTS AND OTHER INFORMATION ACQUISITION OF FINANCIAL INVESTMENT IN VALE During the fourth quarter ended December 31, 2022, Cosan completed the transaction related to the acquisition of a financial investment in Vale S.A. ("Vale") which was divided into: (i) assets acquired; (ii) debt incurred; (iii) structured derivatives; and (iv) issuance of preferred shares. Vale is a Brazilian mining Company that operates in 20 countries that also operates in logistics – via railroads, ports, terminals and infrastructure – in energy. (i) Acquired assets On October 14, 2022, the subsidiary Cosan Oito S.A. (“Cosan Oito”) completed the R$16,425,483 investment Our Vale interest represent 4.95 (ii) Debts incurred The following loans were contracted for the acquisition of interest: Creditor Value Maturities Charges (p.a.) JP Morgan S.A. (i) 5,141,775 10/01/2027 EUR+3.28% Citibank S.A. (i) 3,427,885 10/01/2027 JP¥+ 0.25% Banco Bradesco BBI S.A. 4,000,000 09/27/2023 CDI+1.35% Banco Itaú BBA S.A. 4,000,000 09/16/2023 CDI+1.35% Total 16,569,660 (i) The charges for these operations bear pre-fixed interest, raised in foreign currency for € 1,009,650 95,298,449 The financing from JP Morgan S.A. and Citibank are guaranteed by 100% of Vale’s shares that were purchased together with the Collar structure, referring to Cosan Oito’s 3.31% acquired stake. (iii) Structured derivatives For protection regarding the acquisition of financial investment of 3.31%, derivatives were structured consisting of a combination of call and put options (Collar) that mitigate the risk of Vale's share price devaluation below a certain value, while also allowing Cosan Oito to participate in future share value capped at a certain value. At the inception of the transaction, a net premium of R$499,197 was received for the difference between the put and call options. To safeguard the right to acquire the additional financial investment of 1.6%, derivatives were structured consisting of a combination of call and put options (Call Spread Collar) that mitigate share value depreciation while also allowing Cosan Oito to participate in future share value increases. At the inception of the transaction, a net premium of R$246,321 was received for the difference between the put and call options. (iv) Issuance of preferred shares Bradesco BBI S.A. (“Bradesco”) and Itaú Unibanco S.A. (“Itaú”) completed investments on December 23 and 28 2022 Nove Nove As part of the issuance of preferred shares by Cosan Nove Nove Cosan Nove COVID- 19 During the year ended on December 31, 2022, the Company and jointly controlled Company continue to monitor the evolution of the COVID- 19 On December 31, 2022, the Company had positive consolidated working capital of R$9,779,721 (R$14,336,147 on December 31, 2021), profit for the year of R$2,820,875 (R$6,696,460 on December 31, 2021) and cash and cash equivalents and marketable securities of R$15,732,210 (R$20,546,826 on December 31, 2021). 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, 2022, 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 The Company assessed the circumstances that could indicate impairment of its non-financial assets and concluded that there were no changes in the circumstances that 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, 2022, 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. RUSSIA-UKRAINE CONFLICT Several countries imposed sanctions on Russia, Belarus, and certain regions of Ukraine following the outbreak of war in Ukraine in late February 2022. The geopolitical situation abruptly changed, with uncertainty about the duration of the conflict, changes in the scope of sanctions and retaliatory actions, including new laws. These new circumstances restrict the freedom of operation of Cosan Group companies in the Russian region, causing distortion and volatility in its activities. The war also contributed to increased volatility in currency markets, energy prices, raw materials and other input costs, as well as supply chain tensions and a rise in inflation in many countries. Risks related to cybersecurity, loss of reputation, potential additional sanctions, export controls and other regulations (including restrictions on transferring funds to and from Russia) have increased. The ongoing war may continue to affect production and consumer demand. The Cosan Group evaluated the consequences of the war in its Financial Statements, mainly considering the impacts on major judgments and significant estimates, in addition to the operations that may be affected, such as: (i) Transported volume of fertilizers; (ii) Production of sugarcane, due to unfavorable conditions for obtaining fertilizer; (iii) An increase in oil prices as a result of a more limited supply of Russian oil may reduce our margins and put pressure on the acquisition costs of basic inputs such as diesel oil; (iv) Debt and third-party capital for our financing and investment activities, influenced by measures to contain inflation implemented by the Brazilian government and the Central Bank of Brazil, such as an increase in the basic interest rate; (v) Acquisition of rail tracks by : although is able to obtain rail tracks from other non-Russian suppliers, the prices charged and the deadlines required by these suppliers may be unfavorable in comparison to previous commercial conditions. There have been no effects on the annual financial statements to date. The Cosan Group will continue to monitor the facts surrounding the conflict in order to assess potential impacts on the business and, as a result, on the financial statements. CYBERSECURITY INCIDENT On March 11, 2020, the Company, its subsidiaries and jointly controlled Company suffered a cyber-attack by ransomware that caused a partial and temporary interruption of our operations. Following the incident, the Company made significant investments in 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 PREPARATION
BASIS OF PREPARATION | 12 Months Ended |
Dec. 31, 2022 | |
Basis of Presentation | |
BASIS OF PREPARATION | 2. BASIS OF PREPARATION 2.1 STATEMENT OF COMPLIANCE The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The relevant information of the financial statements, and only them, are being evidenced and correspond to those used by management in its management. These consolidated financial statements were authorized for issue by the Board of Directors of Cosan S.A. on April 24 2023 2.2 CORPORATE REORGANIZATION - PREDECESSOR METHOD As mentioned in Note 1 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 10 12 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 Cosan Limited prior to the Corporate Reorganization; (ii) the consolidated results and financial position of S.A. following the Corporate Reorganization; (iii) the assets and liabilities of S.A at their historical cost; (iv) Cosan (v) Cosan , representing 0.10% 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 and, consequently, an investment in subsidiary of R$329,118 was recorded. Additionally, the amount of R$313,758 was recognized in the capital reserve. Below we present the reconciliation of the Company’s equity as of December 31, 2021 considering the predecessor method: Cosan Limited Balance as of February 28, 2021 Predecessor Adjustments (i) Cosan S.A. Balance Subsequent to the Corporate Reorganization Share capital 5,328 6,360,525 6,365,853 Treasury shares — (583,941 ) (583,941 ) Additional paid-in capital 2,006,653 (4,984,931 ) (2,978,278 ) Accumulated other comprehensive loss (1,978,092 ) 1,381,798 (596,294 ) Retained earnings 5,139,685 1,935,735 7,075,420 Equity attributable to owners of the Company 5,173,574 4,109,186 9,282,760 Equity attributable to non-controlling interest 15,638,932 (4,109,186 ) 11,529,746 Total shareholders’ equity 20,812,506 — 20,812,506 (i) The predecessor adjustments Limited balance as of February 28, 2021 and the S.A. balance subsequent to the Corporate Reorganization. |
ACCOUNTING POLICIES
ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2022 | |
ACCOUNTING POLICIES | |
ACCOUNTING POLICIES | 3. ACCOUNTING POLICIES Accounting policies are included in the explanatory notes, except for those described below: 3.1. FUNCTIONAL AND PRESENTATION CURRENCY The consolidated financial statements are presented in Brazilian reais reais , Monetary assets and liabilities denominated and calculated in foreign currencies at the reporting date are converted into the functional currency using the current foreign exchange rate. Non-monetary assets and liabilities measured at fair value in a foreign currency are converted into the functional currency using the foreign exchange rate in effect on the date the fair value was determined. Non-monetary items measured in a foreign currency based on historical cost are converted at the foreign exchange rate on the transaction date. Foreign currency differences resulting from conversions are generally accounted for in profit or loss. Assets and liabilities arising from international operations, including goodwill and fair value adjustments resulting from the acquisition of a business, are converted into Reais at the reporting date using the foreign exchange rates in effect at the time. Income and expenses from international operations are converted into Reais using the foreign exchange rates in effect on the dates of the transactions. Foreign currency differences are recognized and presented in other comprehensive income in equity. However, if the foreign operation is a non-wholly owned subsidiary, then the relevant proportion of the translation difference is allocated to non-controlling interests. When a foreign operation is disposed of, or significant influence is lost, the amount accumulated in the translation reserve related to that foreign operation is reclassified to finance results as part of the gain or loss on disposal. The following table presents the foreign exchange rate, expressed in Reais for the years indicated , as inform Currency December 31, 2022 December 31, 2021 December 31, 2020 Dollar (U.S.$) BRL 5.22 BRL 5.58 BRL 5.20 Pound Sterling (£) BRL 6.28 BRL 7.52 BRL 7.10 Euro (€) BRL 5.57 BRL 6.32 BRL 6.38 Yen (¥) BRL 0.04 BRL 0.05 BRL 0.05 3.2. USE OF JUDGMENTS AND ESTIMATES In preparing these financial statements, Management used judgments and estimates that affect the application of the Cosan Group's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Underlying estimates and assumptions are continually reviewed and recognized prospectively, when applicable. Information on critical judgments, assumptions and estimates of uncertainties in the application of accounting policies that have a more significant effect on the amounts recognized in the financial statements are included in the following notes: Note 5.5 Note 5.7 Note 5.10 – Sectorial financial assets and liabilities: Regulatory deferral accounts at the end of the concession will be indemnified to distributors or returned to users within a period of 12 months before the end of the concession period. The balance comprises: (i) the previous cycle (under amortization), which represents the balance ratified by ARSESP already included in the tariff, and (ii) the cycle being constituted, which are the differences that will be ratified by regulatory agency in the next tariff adjustment. Note 5.11 Note 8.3 Note 9 – Investment in joint venture: The joint venture agreement require unanimous consent from all parties for all relevant activities. The two partners have direct rights to the assets of the partnership and are jointly and severally liable for the liabilities incurred by the partnership. This entity is therefore classified as a joint venture and the Company recognizes its interest in the joint venture using the equity method. Notes 10.1 and 10.2 – Property, plant and equipment, and intangible assets and goodwill: The calculation of depreciation and amortization of intangible assets and property, plant and equipment are based on estimated useful lives. In addition, the determination of the fair value of intangible assets and property, plant and equipment acquired in a business combination or arising from the formation of a Joint Venture is a significant estimate. Notes 10.5 – Investment properties: Investment properties are initially measured at cost, including transaction costs. After initial recognition, investment properties are measured at fair value, which reflects market conditions at the statement of financial position date, with changes recognized in profit or loss. The portfolio is assessed annually by external experts, and is periodically reviewed by internal professionals technically qualified to carry out this type of assessment. Note 11 – Commitments: We have entered into commercial property leases in relation to our investment property portfolio. We have determined, based on an evaluation of the terms and conditions of the arrangements, such as the lease term not constituting a substantial portion of the economic life of the commercial property and the present value of the minimum lease payments not amounting to substantially all of the fair value of the commercial property, that we retain all the significant risks and rewards of ownership of these properties and account for the contracts as operating leases. Note 14 Note 15 Note 22 Note 23 |
SEGMENT INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Dec. 31, 2022 | |
SEGMENT INFORMATION | |
SEGMENT INFORMATION | 4 SEGMENT INFORMATION The Company's Reported S egments Raízen: o perates Gas Moove: production and distribution of licensed Mobil lubricants in Brazil, Bolivia, Uruguay, Paraguay, Argentina, the United States of America, and the European market. Additionally, under the Comma brand, it manufactures and distributes products for European and Asian markets and corporate activities. Logistics: logistics services for rail transport, port storage and loading of goods, primarily grains and sugar, leasing of locomotives, wagons, and other railroad equipment, as well as operation of containers. Cosan Investments: (i) Land: management of agricultural properties; and (ii) Other Investments: mining and logistics projects, digital platforms for logistics services, in addition to the investment in the Climate Tech Fund, a fund managed by Fifth Wall that specializes in technological innovation. Reconciliation vi. Corporate Cosan: This balance represents Cosan's corporate structure, which includes expenses with consulting services, personnel and various legal claims. In addition to the investment made in Vale, the Corporate segment also includes other investments. Even though Raízen is an equity method joint venture that is not proportionally consolidated, the Chief Operating Decision Maker continues to review segment-specific data. In the column titled "Deconsolidation of joint venture," the reconciliation between these segments is demonstrated. December 31, 2022 Reported Segments Reconciliation Cosan Investiments Cosan Corporate Deconsolidation of Joint Venture Elimination Between Segments Raízen Gas and Power Moove Logistics Land Other Investments Consolidated Statement of profit or loss Gross sales 259,262,308 25,361,549 10,984,268 10,449,453 865,700 11,873 — (259,262,308 ) (63,036 ) 47,609,807 Domestic market (i) 197,402,638 25,361,549 10,327,853 10,174,985 865,700 11,873 — (197,402,638 ) (63,036 ) 46,678,924 External market (i) 61,859,670 — 656,415 274,468 — — — (61,859,670 ) — 930,883 Net sales 244,293,722 20,133,787 8,980,077 9,841,508 834,616 10,416 — (244,293,722 ) (63,036 ) 39,737,368 Cost of sales (233,658,136 ) (16,561,153 ) (6,990,171 ) (6,695,147 ) (560,274 ) (9,428 ) — 233,658,136 63,036 (30,753,137 ) Gross profit 10,635,586 3,572,634 1,989,906 3,146,361 274,342 988 — (10,635,586 ) — 8,984,231 Selling expenses (5,148,014 ) (163,256 ) (1,072,488 ) (30,619 ) — (9,916 ) — 5,148,014 — (1,276,279 ) General and administrative expenses (2,425,318 ) (781,730 ) (347,591 ) (468,574 ) (45,535 ) (68,404 ) (264,497 ) 2,425,318 — (1,976,331 ) Other income (expenses), net 283,606 (91,905 ) 29,002 348,543 1,302,442 (3 ) 164,143 (283,606 ) — 1,752,222 Interest in earnings of associates (119,338 ) 147,878 — 40,462 20,799 (57 ) 3,051,158 119,338 (2,791,497 ) 468,743 Interest in earnings of joint venture — — — — — — (92,179 ) — — (92,179 ) Finance result, net (4,105,064 ) (416,397 ) (101,872 ) (2,329,035 ) 4,106 3,851 (2,318,589 ) 4,105,064 — (5,157,936 ) Financial expenses (3,010,398 ) (1,331,114 ) (114,249 ) (1,521,478 ) (3,550 ) 7,698 (1,743,842 ) 3,010,398 — (4,706,535 ) Financial revenue 811,948 898,103 75,817 1,108,620 7,656 5,101 3,682,224 (811,948 ) — 5,777,521 Foreign exchange variation, net 963,060 102,655 (15,394 ) 374,859 — (8,948 ) (192,426 ) (963,060 ) — 260,746 Derivatives (2,869,674 ) (86,041 ) (48,046 ) (2,291,036 ) — — (4,064,545 ) 2,869,674 — (6,489,668 ) Income tax 864,710 (329,185 ) (10,062 ) (193,116 ) (74,915 ) (68 ) 725,750 (864,710 ) — 118,404 Profit for the year (13,832 ) 1,938,039 486,895 514,022 1,481,239 (73,609 ) 1,265,786 13,832 (2,791,497 ) 2,820,875 Profit (loss) attributed to: Owners of the Company (66,054 ) 1,572,263 340,914 156,380 749,840 (64,306 ) 1,212,438 66,054 (2,791,497 ) 1,176,032 Non-controlling interests 52,222 365,776 145,981 357,642 731,399 (9,303 ) 53,348 (52,222 ) — 1,644,843 (13,832 ) 1,938,039 486,895 514,022 1,481,239 (73,609 ) 1,265,786 13,832 (2,791,497 ) 2,820,875 Other selected data Depreciation and amortization 9,297,498 776,248 251,886 1,966,945 238 5,159 14,004 (9,297,498 ) — 3,014,480 EBITDA 12,524,020 3,459,869 850,715 5,003,118 1,552,286 (72,233 ) 2,872,629 (12,524,020 ) (2,791,497 ) 10,874,887 Additions to PP&E, intangible assets and contract assets 9,339,898 1,659,202 109,263 2,717,745 19,212 23,481 2,471 (9,339,898) — 4,531,374 EBITDA reconciliation Profit for the year (13,832 ) 1,938,039 486,895 514,022 1,481,239 (73,609 ) 1,265,786 13,832 (2,791,497 ) 2,820,875 Income taxes (864,710 ) 329,185 10,062 193,116 74,915 68 (725,750 ) 864,710 — (118,404 ) Finance result, net 4,105,064 416,397 101,872 2,329,035 (4,106 ) (3,851 ) 2,318,589 (4,105,064 ) — 5,157,936 Depreciation and amortization 9,297,498 776,248 251,886 1,966,945 238 5,159 14,004 (9,297,498 ) — 3,014,480 EBITDA 12,524,020 3,459,869 850,715 5,003,118 1,552,286 (72,233 ) 2,872,629 (12,524,020 ) (2,791,497 ) 10,874,887 (i) Domestic market: sales within each entity's country of residence; Foreign market: export sales. December 31, 2021 Reported Segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Investments Cosan Corporate Deconsolidation of joint venture 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 venture — — — — — 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) Domestic markets: sales within the country where each entity is located; external markets: sales export. December 31, 2020 Reported Segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Corporate Deconsolidation of joint venture 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 venture (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) Domestic markets: sales within the country where each entity is located; external markets: sales export. December 31, 2022 Reported Segments Reconciliation Cosan Investments Cosan Corporate Deconsolidation of Joint Venture Elimination Between Segments Raízen Gas and Power Moove Logistics Lands Other Investments Consolidated Statement of financial position items: Assets 109,894,718 25,124,200 8,081,113 45,951,748 14,830,918 1,154,100 56,596,092 ( 109,894,718 ) ( 17,253,179 ) 134,484,992 Cash and cash equivalents 4,902,800 3,405,648 865,370 7,385,421 25,582 110,228 1,509,467 (4,902,800 ) — 13,301,716 Marketable securities 126,206 578,358 62,919 840,061 217,061 91,103 20,310,264 (126,206 ) — 22,099,766 Trade receivables 10,316,720 1,931,205 1,101,336 578,324 314,834 1843 — (10,316,720 ) — 3,927,542 Derivative financial instruments 7,023,284 391,863 — 874,843 — — 2,885,046 (7,023,284 ) — 4,151,752 Inventories 16,043,114 133,881 1,509,357 225,813 — 8 — (16,043,114 ) — 1,869,059 Sectorial financial assets — 342,333 — — — — — — — 342,333 Other financial assets 230,780 277 450 — — — 88,511 (230,780 ) — 89,238 Other current assets 10,285,568 1,037,587 405,314 724,415 74,623 110,517 1,705,199 (10,285,568 ) (1,167,488 ) 2,890,167 Other non-current assets 8,938,318 897,654 297,616 3,385,624 7,643 900 3,040,182 (8,938,318 ) (266,513 ) 7,363,106 Investments in associates — 2,525,292 — 381,469 74,505 — 15,751,855 — (15,819,178 ) 2,913,943 Investment in joint venture 1,371,430 — — — — — 11,221,356 (1,371,430 ) — 11,221,356 Biological assets 3,254,850 — — — 9,992 — — (3,254,850 ) — 9,992 Property, plant and equipment 25,210,448 671,573 805,377 17,049,188 34 363,374 58,890 ( 25,210,448 ) — 18,948,436 Intangible assets 9,337,192 12,015,135 2,854,874 6,774,306 — 475,337 2,290 (9,337,192 ) — 22,121,942 Contract assets 3,297,856 1,110,335 8,380 — — — — (3,297,856 ) — 1,118,715 Right-of-use assets 9,556,152 83,059 170,120 7,732,284 3,584 790 23,032 (9,556,152 ) — 8,012,869 Investment property — — — — 14,103,060 — — — — 14,103,060 Liabilities (83,814,462 ) (16,642,318 ) (5,731,853 ) (30,541,294 ) (1,446,694 ) ( 78,828 ) (33,308,605 ) 83,814,462 1,433,999 (86,315,593 ) Loans, borrowing and debentures (33,551,302 ) (8,278,839 ) (2,862,154 ) (16,758,088 ) — — (25,088,135 ) 33,551,302 — (52,987,216 ) Leases (10,568,042 ) (76,606 ) (166,651 ) (3,254,011 ) (3,708 ) (818 ) (30,364 ) 10,568,042 — (3,532,158 ) Derivative financial instruments (4,909,074 ) (400,351 ) (18,146 ) (1,412,945 ) — — (3,459,490 ) 4,909,074 — (5,290,932 ) Trade payables (18,789,160 ) (1,842,810 ) (1,602,936 ) (746,433 ) (71,684 ) (790 ) (115,198 ) 18,789,160 — (4,379,851 ) Employee benefits payables (837,208 ) (193,585 ) (112,590 ) (296,833 ) — (7,232 ) (49,281 ) 837,208 — (659,521 ) Sectorial financial liabilities — (1,616,616 ) — — — — — — — (1,616,616 ) Other current liabilities (7,176,122 ) (906,844 ) (397,704 ) (1,786,009 ) (905,816 ) (3,105 ) (1,230,804 ) 7,176,122 609,462 (4,620,820 ) Other non-current liabilities (7,983,554 ) (3,326,667 ) (571,672 ) (6,286,975 ) (465,486 ) (66,883 ) (3,335,333 ) 7,983,554 824,537 (13,228,479 ) Total assets (net of liabilities) Total assets (net of liabilities) allocated by segment 26,080,256 8,481,882 2,349,260 15,410,454 13,384,224 1,075,272 23,287,487 (26,080,256 ) (15,819,180 ) 48,169,399 Equity attributable to: Controlling shareholders 22,507,108 4,310,836 1,647,259 4,613,308 4,187,415 1,060,360 20,653,169 (22,507,108 ) (15,819,180 ) 20,653,167 Non-controlling shareholders 3,573,148 4,171,046 702,001 10,797,146 9,196,809 14,912 2,634,318 (3,573,148 ) — 27,516,232 Total shareholders’ equity 26,080,256 8,481,882 2,349,260 15,410,454 13,384,224 1,075,272 23,287,487 (26,080,256 ) (15,819,180 ) 48,169,399 December 31, 2021 Reported segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Investments Cosan Corporate Deconsolidation of joint venture Segment elimination Consolidated Statement of financial position items: Assets 110,136,182 19,982,611 4,850,344 48,174,556 4,484,805 35,054,650 (110,136,182 ) (14,704,943 ) 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 ) (668,153 ) 2,331,331 Other non-current assets 8,562,180 1,370,964 246,934 3,197,105 354 2,180,559 (8,562,180 ) (240,673 ) 6,755,243 Investments in associates — — — 57,844 — 14,518,340 — (13,796,117 ) 780,067 Investment in joint venture 1,317,720 — — — — 10,936,663 (1,317,720 ) — 10,936,663 Biological assets 3,106,744 — — — — — (3,106,744 ) — — Investment property — — — — 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 4.1 NET SALES TO EXTERNAL CUSTOMERS BY PRODUCTS/CUSTOMER TYPE December 31, 2022 December 31, 2021 December 31, 2020 Reported segment Raízen Ethanol 29,652,112 27,464,271 19,625,060 Sugar 23,695,768 13,946,480 10,241,141 Gasoline 66,586,914 55,158,035 36,127,017 Diesel 106,684,577 71,828,092 46,967,219 Cogeneration 3,688,108 3,968,947 2,282,158 Other 13,986,243 7,288,547 2,807,127 Intercompany elimination (i) — (4,607,102 ) — 244,293,722 175,047,270 118,049,722 Gas and Power Natural gas distribution Industrial 13,460,397 7,386,258 5,030,738 Residential 2,103,984 1,610,286 1,381,597 Cogeneration 970,208 637,489 389,732 Automotive 958,363 364,664 220,130 Commercial 776,042 448,615 350,760 Construction revenue 1,217,818 1,020,176 885,630 Other 408,431 242,226 59,104 19,895,243 11,709,714 8,317,691 Electricity trading 238,544 620,495 775,479 20,133,787 12,330,209 9,093,170 Moove Finished product 8,094,216 5,088,102 3,891,551 Base oil 596,443 457,991 392,153 Services 289,418 566,364 131,871 8,980,077 6,112,457 4,415,575 Logistics North operations 7,635,243 5,479,583 5,270,436 South operations 1,739,391 1,624,084 1,409,872 Container operations 466,874 335,965 285,851 9,841,508 7,439,632 6,966,159 Cosan Investments Lease and sale of lands 834,616 31,502 — 834,616 31,502 — Other Investments Digital platforms 2,804 — — Logistic services 7,612 — — 10,416 — — Reconciliation Cosan Corporate — 8,292 818 Deconsolidation of joint venture and eliminations (244,356,758 ) (175,104,361 ) (118,087,609 ) Total 39,737,368 25,865,001 20,437,835 (i) On June 1, 2021, Raízen S.A. started to consolidate Raízen Energia and, with that, the balances between the entities started to be presented net. 4.2 INFORMATION ON GEOGRAPHICAL AREA Net sales Non-current assets December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 Brazil 34,128,831 22,529,634 18,100,012 11,957,039 12,551,261 Europe (i) 3,080,840 2,551,739 1,867,284 7,762 10,515 Latin America (ii) 697,117 632,235 360,798 7,294 6,320 North America (ii) 1,770,487 81,384 62,760 17,173 — Asia and others 60,093 70,009 46,981 — — Total 39,737,368 25,865,001 20,437,835 11,989,268 12,568,096 Main countries: (i) England, France, Spain and Portugal; and (ii) Argentina, Bolívia, Uruguay and Paraguay and. (iii) United States of America. 4.3 MAIN CUSTOMERS On December 31, 2022, one Company's 2021 2020 Company's |
FINANCIAL ASSETS AND LIABILITIE
FINANCIAL ASSETS AND LIABILITIES | 12 Months Ended |
Dec. 31, 2022 | |
FINANCIAL ASSETS AND LIABILITIES | |
FINANCIAL ASSETS AND LIABILITIES | 5 FINANCIAL ASSETS AND LIABILI TIES Accounting policy Measurement of financial assets and liabilities The Company initially measures a financial asset at its fair value plus (in case of a financial asset that is not measured at fair value through profit or loss) transaction costs, with the exception of those measured at amortized cost and maintained within a business model with the objective to obtaining contractual cash flows that meet the principal and interest only criterion. Debt financial instruments are subsequently measured at fair value through profit or loss, amortized cost or fair value through other comprehensive income. The classification is based on two The Company recognizes its financial assets at amortized cost for financial assets held within a business model with the objective of obtaining contractual cash flows that satisfy the "Principal and Interest" criterion. This category includes trade receivables, cash and cash equivalents, receivables from related parties, other financial assets, dividends and interest on equity receivable. Purchases or sales of financial assets that require the delivery of assets within a period established by regulation or market convention (regular trades) are recorded on the trade date, i.e., the date on which the Company enters into an agreement to buy or sell the asset. No remeasurement of financial assets was carried out. Financial assets are derecognized when the rights to receive cash flows from these assets have expired or when the Company has transferred substantially all risks and rewards associated with ownership. Financial liabilities are categorized based on whether they are measured at amortized cost or fair value through profit or loss. A financial liability is categorized as measured at fair value through profit or loss if it is held for trading, is a derivative, or was designated as such upon initial recognition. Financial liabilities are measured at fair value and the net result, including interest, is included in finance results. Other financial liabilities are subsequently measured using the effective interest method at their amortized cost. Interest expense and foreign exchange gains and losses are accounted for in the finance result. The Company derecognizes a financial liability when its contractual obligations are discharged, cancelled, or expired, or when its terms are modified and the cash flows of the modified liability are materially different, in which case a new financial liability is recognized at fair value based on the modified terms. Any gain or loss on derecognition is accounted for in profit or loss. The Company's financial assets and liabilities are as follows: Note December 31, 2022 December 31, 2021 Assets Fair value through profit or loss Cash and cash equivalents 5.2 1,134,030 8,103,713 Marketable securities 5.3 22,099,766 4,388,007 Derivative financial instruments 5.6 4,151,752 4,732,926 Other financial assets 89,238 320,193 27,474,786 17,544,839 Amortized cost Cash and cash equivalents 5.2 12,167,686 8,070,417 Trade receivables 5.7 3,927,542 2,745,853 Restricted cash 5.3 139,933 58,990 Receivables from related parties 5.8 476,542 416,491 Sectorial financial assets 5.10 342,333 558,310 Dividends and interest on equity receivable 16 161,147 519,965 17,215,183 12,370,026 Total 44,689,969 29,914,865 Liabilities Amortized cost Loans, borrowings and debentures 5.4 (21,620,197 ) (25,444,437 ) Trade payables 5.9 (4,379,851 ) (3,253,504 ) Consideration payable (223,960 ) (234,960 ) Other financial liabilities (i) (954,547 ) (726,423 ) Leases 5.5 (3,532,158 ) (3,267,678 ) Railroad concession payable 12 (3,351,410 ) (3,054,248 ) Related parties payable 5.8 (387,736 ) (287,609 ) Dividends payable 16 (892,006 ) (799,634 ) Sectorial financial liabilities 5.10 (1,616,616 ) (1,372,283 ) Installment of tax debts 13 (208,760 ) (200,664 ) (37,167,241 ) (38,641,440 ) Fair value through profit or loss Loans, borrowings and debentures 5.4 (31,367,019 ) (20,214,600 ) Derivative financial instruments 5.6 (5,290,932 ) (1,076,161 ) (36,657,951 ) (21,290,761 ) Total (73,825,192 ) (59,932,201 ) (i) The Company’s subsidiaries seek to improve their working capital efficiency by negotiating longer payment terms with their suppliers and entering into structured payment agreements (also known as reverse factoring) with third-party intermediaries, such as financial institutions . On December 31, 2022,Rumo and Moove had advanced R$ 710,736 64,099 519,082 57,704 14.53 10.60 CDI + 2.5% p.a. CDI + 2.5% p.a. 109 102 90 107 96,752 27,155 25,264 2020 . We also have a voluntary supply chain finance ("SCF") program that allows suppliers, at their sole discretion, to take advantage of our credit rating. Subsidiaries and their suppliers agree to commercial terms for the goods and services we purchase, including prices, quantities and payment terms, regardless of whether the supplier chooses to participate in the SCF program. The subsidiaries and their suppliers agree to the commercial terms for the goods and services we purchase, including prices, quantities, and payment terms. There are no modifications to any of our payment obligations to our suppliers. Under the SCF program, neither the Company nor any of its subsidiaries provide any guarantees. When contracted, the Company and its subsidiaries pay the financial institution the full nominal value of the originating obligation on the original payment date . For the SCF program, the subsidiaries Rumo and Compass have supplier advances with financial institutions totaling R$ 107,133 72,579 62,070 91,933 . The settlement flow of the balance of credits assigned by suppliers to financial agents is classified in the statement of cash flows as operating activities as this more accurately reflects the cash expenditure from the perspective of the Company's operations. 5.1 NET DEBT The information in the table below presents a reconciliation of net debt, a non-GAAP financial measure. A non-GAAP financial measure is generally defined as one Net debt is also used to calculate certain leverage ratios. However, net debt is not a measure in accordance with the IFRS and should not be considered as a substitute for measures of debt determined in accordance with the IFRS and the Brazilian accounting standards. Note December 31, 2022 December 31, 2021 Loans and financing 5.4 52,987,216 45,659,037 Financial instruments and derivatives on debt 5.6 1,228,928 (3,633,381 ) 54,216,144 42,025,656 (-) Cash and cash equivalents 5.2 (13,301,716 ) (16,174,130 ) (-) Marketable securities 5.3 (22,099,766 ) (4,388,007 ) (35,401,482 ) (20,562,137 ) Net debt 18,814,662 21,463,519 Covenants The Company and its subsidiaries are required to comply with the following financial clauses per the terms of the main loan lines: Debt Goal Index 4 Comgás Short-term debt / total debt (iii) 0.6 0.17 Debentures 4 9 Net debt (i) (ii) 4.0 1.64 BNDES Resolution 4,131 Debenture 1 Cosan 1.72 Senior Notes 2027 Cosan Luxembourg S.A. Proforma (iv) pro forma EBITDA (ii)|(iv) 3.5 2.19 Senior Notes 2029 Debenture ( 11 12 13 14 Rumo ICJ (viii) (v) 2.0 2.87 ECA Senior Notes 2028 (vi) Rumo Luxembourg S.à r.l. Net debt (i) (ii) 3.5 2.25 Senior Notes 2032 (vi) NC Rumo ECA Debentures (vii) BNDES Sulgás 0.35 Short-term debt / Total debt (iii) 0.8 0.64 Brado ICSD (ix) 2.0 2.84 Brado Net debt (i) (ii) 3.0 1.72 NCE Brado Net debt (i) (ii) 3.3 Syndicated Loan CLI Net debt (i) (ii) 3.5 1.98 ICSD (ix) 2.5 4.42 (i) Net debt is composed of current and non-current debt, net cash and cash equivalents, derivative financial instruments on debt and marketable securities. (ii) Corresponds to the EBITDA accumulated over the previous twelve (iii) Total debt is the sum of current and non-current loans, borrowings and debentures, leasing, as well as current and non-current derivative financial instruments. (iv) Net debt and proforma EBITDA, including joint venture financial information. Net Debt and proforma EBITDA are non-GAAP measures. (v) The finance result of net debt is represented by the cost of net debt. (vi) Senior Notes due 2028 is committed to using the resources to fully or partially finance ongoing and future projects that contribute to the promotion of a resource-efficient, low-carbon transport sector in Brazil. Eligible projects include "acquisition, replacement, and modernization of rolling stock," "Infrastructure for duplication of railway sections, new yards, and yard extensions," and "railway modernization." The subsidiary publishes an annual report detailing the progress of projects, which is available on the investor relations page. Senior Notes due 2032 17.6 2026 21.6 2030 25 4.45 (vii) The 11 12 13 3.0 3.5 (viii) Interest Coverage Ratio ( de de ) (“ICJ”). (ix) Debt Service Coverage Ratio ( de do da ) (“ICSD”). Other ESG (Environmental, Social, and Corporate Governance) Commitments The 2 2023 2024 CDI + 1.54% 1 IPCA + 4.52% 2 On December 31, 2022, the Company and its subsidiaries were complying with all financial and non-financial covenants. The terms of the loans include provisions for cross-default. 5.2 CASH AND CASH EQUIVALENTS Accounting policy Cash and cash equivalents consist of cash on hand, demand deposits, and highly liquid investments with maturities of three December 31, 2022 December 31, 2021 Cash and bank accounts 307,819 98,116 Savings account 974,198 2,594,723 Financial investments 12,019,699 13,481,291 13,301,716 16,174,130 Financial investments include the following: December 31, 2022 December 31, 2021 Applications in investment funds Repurchase agreements 1,181,280 1,680,328 Certificate of bank deposits - CDB — 6,423,385 Others 123,052 — 1,304,332 8,103,713 Applications in banks Certificate of bank deposits – CDB (i) 10,396,376 2,321,614 Repurchase agreements (ii) 96,841 974,494 Others (iii) 222,150 2,081,470 10,715,367 5,377,578 12,019,699 13,481,291 (i) Bank deposit certificates ( Certificado de Depósito Bancário ), or “CDB,” are securities issued by Brazilian financial institutions, with original maturities of up to 90 days, without penalties or other restrictions for their early redemption. (ii) Repurchase agreements refer to the purchase of securities, with a commitment to repurchase them at a rate previously established by the parties, usually with a fixed term of up to 90 days, for which there are no penalties or other restrictions for their early redemption. (iii) The balance was primarily comprised of investments in time deposits in relation to Luxembourg’s amounts, via the raised Senior Notes (Bond) that matures in 2032 The onshore financial investments are remunerated at rates around 100% of the interbank deposit certificate ( Certificados de Depósitos Interbancários 2022 2021 5.12 5.3 MARKETABLE SECURITIES AND RESTRICTED CASH Accounting policy The valuation and classification of marketable securities are based on their fair value. Securities consist of all equity instruments with readily ascertainable fair values. The fair values of equity instruments are deemed readily determinable if the securities are listed or if a current market value or fair value can be determined even without a direct listing (for example, prices of shares in mutual funds). Restricted cash is measured and classified at amortized cost, with an average maturity of between two five December 31, 2022 December 31, 2021 Marketable securities Financial investment in listed entities (i) 19,586,193 — Government security (ii) 2,421,297 4,371,645 ESG funds (iii) 91,103 15,311 Certificate of bank deposits - CDB 1,173 1,051 22,099,766 4,388,007 Current 2,422,470 4,372,696 Non-current 19,677,296 15,311 Total 22,099,766 4,388,007 Restricted cash Securities pledged as collateral 139,933 58,990 139,933 58,990 Current 8,024 — Non-current 131,909 58,990 Total 139,933 58,990 (i) According to Note 1.3 fair value through profit or loss (ii) The sovereign debt securities accrue interest linked to the Special System of Liquidation and Custody ( Especial de e ), or “SELIC” rate, with a yield of approximately 100% of the CDI. (iii) 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. 5.4 LOANS, BORROWINGS AND DEBENTURES Accounting policy Initial measurement is at fair value, net of transaction costs, and subsequent measurement is at amortized cost. When the obligation specified in the contract is satisfied, canceled, or expires, they are derecognized. 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-monetary assets transferred or liabilities assumed, is recorded as other financial revenue or expense in profit or loss. Classified as current liabilities unless there is an unconditional right to defer settlement for at least one year Initial measurement of financial guarantee contracts issued by the Company is at fair value, and if not designated at fair value in the finance result, the financial guarantee contracts are subsequently measured at the higher amount of: i. the amount of the obligation under the contract; and ii. the amount initially recognized less, as applicable, the accumulated amortization recognized according to revenue recognition policies. The terms and conditions of outstanding loans are as follows: Financial Charges Description Indexer Interest Rate December 31, 2022 December 31,2021 Maturity Goal Secured Resolution 4,131 Prefixed — — 148,932 11/01/2022 Working capital Prefixed 2.95% 868,367 — 10/01/2024 Investments Prefixed 0.25% 578,708 — 10/01/2024 Investments Prefixed 3.20% 2,009,452 — 10/01/2025 Investments Prefixed 0.25% 1,338,697 — 10/01/2025 Investments Prefixed 3.40% 1,966,061 — 10/01/2026 Investments Prefixed 0.25% 1,309,330 — 10/01/2026 Investments Prefixed 3.56% 816,172 — 10/01/2027 Investments Prefixed 0.25% 543,160 — 10/01/2027 Investments BNDES Prefixed 3.50% 378 727 01/01/2024 Investments Prefixed 5.86% 280,919 461,756 01/01/2025 Investments IPCA + 3.25% 9.50% 1,653,501 945,663 01/04/2029 Investments IPCA + 4.10% 10.40% 131,885 154,843 01/04/2029 Investments URTJLP 9.29% 2,221,900 2,598,623 07/01/2031 Investments IPCA + 5.74% 12.14% 544,925 — 04/01/2036 Investments Debentures CDI + 1.79% 15.68% 754,785 753,770 06/01/2027 Investments CDI + 1.30% 15.13% 759,175 746,725 10/01/2027 Investments IPCA + 4.77% 10.63% 632,440 694,898 06/01/2031 Investments Bank credit note IPCA 6.59% 806,028 646,624 01/01/2048 Investments Export credit note CDI + 1.03% 14.84% 98,003 86,707 02/01/2023 Investments CDI + 0.80% 14.56% 355,770 515,928 12/01/2023 Investments CDI + 2.07% 16.33% 50,467 — 03/01/2025 Working capital CDI + 2.25% 16.81% 62,760 60,700 01/05/2026 Investments Export Credit Agency (“ECA”) Euribor + 0.58% 1.94% 68,455 95,460 09/01/2026 Investments IPCA + 4.10% 18.47% 73,717 — 01/01/2030 Investments 17,925,055 7,911,356 Unsecured Debentures CDI +0.50% — — 2,033,161 10/01/2022 Investments IPCA + 7.48% — — 165,478 12/01/2022 Investments IPCA + 5.87% 12.28% 907,366 873,474 12/01/2023 Investments CDI + 1.95% 15.87% 824,866 717,651 08/01/2024 Investments IPCA + 4.33% 10.64% 523,837 501,278 10/01/2024 Investments CDI + 2.65% 16.66% 1,819,837 1,858,837 08/01/2025 Investments IPCA + 7.36% 13.86% 114,014 108,451 12/01/2025 Investments IPCA + 4.68% 10.53% 518,680 543,752 02/01/2026 Investments CDI + 1.45% 15.30% 399,616 — 12/01/2026 Investments IGPM + 6.10% 12.36% 372,171 352,235 05/01/2028 Investments CDI + 1.50% 15.35% 407,308 — 05/01/2028 Investments CDI + 1.65% 15.53% 787,519 774,215 08/01/2028 Investments IPCA + 4.50% 10.34% 1,523,382 1,483,873 02/01/2029 Investments IPCA + 3.90% 9.71% 1,048,252 1,018,844 10/01/2029 Investments IPCA + 6.80% 12.77% 893,852 891,972 04/01/2030 Investments IPCA + 3.60% 9.39% 367,476 361,862 12/01/2030 Working capital IPCA + 5.12% 11.48% 491,153 484,974 08/01/2031 Investments CDI + 2.00% 15.92% 946,379 930,301 08/01/2031 Investments IPCA + 5.75% 12.15% 394,008 374,761 08/01/2031 Investments CDI + 1.90% 15.81% 1,120,577 — 01/05/2032 Investments IPCA + 5.99% 11.91% 435,780 — 06/01/2032 Investments IPCA + 5.73% 11.64% 537,261 505,584 10/01/2033 Investments IPCA + 4.00% 9.81% 941,203 952,671 12/01/2035 Investments IPCA + 4.54% 10.38% 80,987 126,668 06/01/2036 Investments IPCA + 5.22% 11.59% 467,841 477,578 08/01/2036 Investments Senior Notes due 2023 Prefixed — — 685,550 03/01/2023 Acquisition Senior Notes due 2025 Prefixed — — 2,981,335 01/01/2022 Acquisition Senior Notes due 2029 Prefixed 5.50% 3,953,564 4,226,142 09/01/2029 Acquisition Senior Notes due 2027 Prefixed 7.00% 3,587,265 4,305,928 01/01/202 Acquisition Senior Notes due 2028 Prefixed 5.25% 2,196,083 2,700,621 01/01/2028 Acquisition Senior Notes due 2032 Prefixed 4.20% 2,124,051 2,800,716 01/01/2032 Acquisition Perpetual Notes Prefixed 8.25% 2,641,732 2,825,420 11/01/2040 Acquisition Working capital CDI + 1.60% 15.47% 100,170 100,157 06/01/2023 Working capital SOFR + 1.50% 1.50% 2,334,615 — 05/01/2027 Acquisition Resolution 4,131 Prefixed 5.50% 45,124 — 05/01/2023 Investments Prefixed 3.67% 395,285 438,823 05/01/2023 Investments Prefixed 1.36% 377,705 414,378 02/01/2024 Investments Prefixed 2.13% 1,000,957 — 02/01/2025 Investments Prepayment 1.27% 1.27% 151,871 166,355 7/1/2023 Working capital 3M Libor + 1.00% 1.59% 104,667 111,955 10/01/2023 Working capital Loans abroad Prefixed — — 857 09/01/2022 Investments Prefixed — — 37,674 11/01/2022 Working capital 6M Libor + 1.50% — — 263,501 12/01/2022 Acquisition Prefixed 1.90% 125,707 150,649 12/01/2023 Investments 35,062,161 37,747,681 Total 52,987,216 45,659,037 Current 4,542,205 4,241,368 Non-current 48,445,011 41,417,669 For debts that have linked derivatives, the effective rates are shown in Note 5.6 To calculate the average rates it was considered, on an annual basis, the annual average CDI of 13.65% p.a. (9.15% p.a. on December 31, 2021) and Long-term Interest Rate (Taxa de Juros de Longo Prazo), or “TJLP,” of 7.20% p.a. (5.32% p.a. on December 31, 2021). Loans, borrowings and debentures that are classified as non-current have the following maturities: December 31, 2022 December 31, 2021 1 2 4,534,638 4,339,743 2 3 6,663,907 2,968,458 3 4 5,631,841 4,029,690 4 5 8,550,932 984,015 5 6 4,836,087 6,902,914 6 7 6,527,516 4,701,952 7 8 2,180,672 6,595,854 Over 8 9,519,418 10,895,043 48,445,011 41,417,669 Loans, borrowings and debentures are denominated in the following currencies: December 31, 2022 December 31, 2022 Real 24,450,190 23,304,742 U.S. Dollar 18,912,917 21,806,154 Euro 5,728,508 96,317 Yen 3,769,894 — Pound Sterling 125,707 451,824 52,987,216 45,659,037 All debts denominated in US Dollars, Euros and Yen are hedged against foreign exchange risk through derivatives (Note 5.6 Below are the changes in loans, borrowings, and debentures during the year ended December 31, 2022: Balance as of January 1, 2021 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 Balance as of December 31, 2021 45,659,037 Business combination (Note 8.3 12,825 Proceeds (i) 23,886,960 Repayment of principal (i) (15,278,378 ) Payment of interest (3,441,978 ) Interest, exchange rate and fair value 2,148,750 Balance as of December 31, 2022 52,987,216 (i) The presented values are primarily attributable to borrowings obtained in connection with the acquisition of Vale’s shares. See Note 1.3 a) Guarantees The subsidiary Rumo has entered into financing agreements with financial institutions, which are also guaranteed according to each agreement, by bank guarantees, with an average cost of 0.66% p.a. or by collateral agreements and escrows. The balance of contracted bank guarantees was R$3,037,453 on December 31, 2022, compared to R$3,328,076 on December 31, 2021. The subsidiary CLI has a bank guarantee for a loan from Cosan Lubrificantes SRL (“Moove Argentina”), with an average annual cost of 0.18 The subsidiary Cosan Oito has guarantees with the banks related to the transaction described in Note 1.3 b) Unused lines of credit The Company and its subsidiaries had unused bank lines of credit totaling R$3,052,287 on December 31, 2022 (R$3,648,023 on December 31, 2021). The use of these credit lines is subject to certain contractual terms. c) Fair value and exposure to financial risk The fair value of the loans and debentures is based on the discounted cash flow using its implicit discount rate. They are classified as a level 2 fair value in the hierarchy (Note 5.10) due to the use of unobservable data, including own credit risk. The details of the Company’s exposure to risks arising from loans are shown in Note 5.12. 5.5 LEASES Accounting policy: Upon inception or modification of a contract, the Company assesses whether the contract is or contains a lease. The lease liability is initially measured at the present value of the lease payments that are not made on the commencement date, discounted at the interest rate implicit in the lease or, if that rate cannot be determined easily, at the Company's incremental borrowing rate. The Company's incremental borrowing rate is generally used as the discount rate. At December 31, 2022 and 2021, the lessee’s incremental borrowing rate applied to the lease liabilities follows a range from 10.90% to 14.20% per year. The lease payments included in calculating the lease are as follows: i. fixed payments, including fixed payments in essence; ii. index or rate dependent variable lease payments, which are initially calculated using the index or rate at the commencement date; iii. amounts expected to be paid by the lessee under residual value guarantees; and iv. the purchase option exercise price if the lessee is reasonably certain to exercise that option, and the payment of lease termination penalties if the lease term reflects the lessee's option to terminate the lease. To calculate the incremental borrowing rate, the Company: i. where possible, uses the most recent third-party financing received by the individual tenant as a starting point, adjusted to reflect changes in financing terms since the third-party financing was received; ii. uses an accrual approach that begins with a credit risk-adjusted risk-free interest rate for leases held by the Company that have not had any recent third-party financing; and iii. makes specific adjustments to the lease, e.g., term, country, currency and security. Variable lease payments that do not depend on an index or rate are recognized as expenses in the period in which the event or condition that generates these payments occurs. The Company is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they become effective. When adjustments to lease payments based on an index or rate take effect, the lease liability is remeasured and adjusted against the right-of-use asset. Lease payments are allocated between principal and finance cost. The financial cost is charged to the finance results over the lease term to generate a constant periodic interest rate on the remaining balance of the liability in each period. Payments associated with short-term leases of equipment and vehicles, as well as all leases of low-value assets, are recognized as an expense in profit or loss on a straight-line basis. A short-term lease is a lease with a term of twelve months or less. Low-value assets include IT equipment and small office furnishings. In determining the lease term, the Company considers all facts and circumstances that create a financial incentive to exercise or not exercise the extension option. Extension options (or periods after termination options) are only included in the lease term if there is a substantial likelihood that they will be exercised (or not terminated). For warehouse and equipment leases, the following factors are typically most relevant: . • If there are significant penalties for terminating (or not extending), the group is normally reasonably certain to extend (or not terminate). • If leased property improvements are expected to have a significant remaining value, the Company has a good chance of extending the lease (or not terminate). • herwise the Company considers other factors, including historical lease durations and the costs and business interruption required to replace the leased asset. Most extension options on office and vehicle leases were not included in the lease because the Company could replace the assets without significant cost or business interruption. The subsequent measurement of the lease is valued using the effective interest rate method and the cost-amortization method. It is reassessed when there is a change in future lease payments resulting from a change in index or rate, if there is a change in the amounts expected to be paid under the residual value guarantee, if the Company changes its assessment, if an option will be exercised on purchase, extension, or termination, or if the revised lease payment is essentially fixed. When the lease is remeasured in this way, an adjustment corresponding to the carrying amount of the right-of-use asset is made or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero Balance as of January 1, 2021 3,001,847 Business Combination (note 8.3 3,281 Additions 142,562 Interest 426,313 Transfer between liabilities (54,139 ) Repayment of principal (461,040 ) Payment of interest (165,301 ) Monetary adjustment 374,155 Balance as of December 31, 2021 3,267,678 Business combination (Note 8.3 174,229 Additions 224,714 Write-offs (116,157 ) Interest 377,449 Repayment of principal (400,248 ) Payment of interest (211,611 ) Monetary adjustment 221,077 Transfers between liabilities (4,973 ) Balance as of December 31, 2022 3,532,158 Current 550,529 Non-current 2,981,629 3,532,158 The lease agreements vary in term, with the final maturity occurring in December 2058. The amounts are updated annually by inflation indexes (such as I General Market Price Index (Índice Geral de Preços - Mercado), or “IGPM,” and Extended National Consumer Price Index (Índice Nacional de Preços ao Consumidor Amplo), or “IPCA”) or may incur interest based on the TJLP or CDI, and some of the contracts have renewal or call options that were considered in determining their classification as a lease. The Company does not face a significant liquidity risk with regard to the payment of its lease liabilities. Lease liabilities are monitored within the Company's treasury function. In addition to the amortization and allocation of interest and foreign exchange rate variation highlighted in the preceding tables, the following impacts to profit or loss were recognized for lease agreements not included in the measurement of lease liability: December 31, 2022 December 31, 2021 December 31, 2020 Variable lease payments not included in the recognition of lease obligations 56,612 35,482 24,045 Expenses related to short-term leases 14,986 30,507 34,101 Low asset leasing costs, excluding short-term leases 1,445 978 1,547 73,043 66,967 59,693 5.6 DERIVATIVE FINANCIAL INSTRUMENTS Accounting policy: Initial recognition of derivatives at fair value occurs on the date a derivative contract is entered into, and derivatives are subsequently remeasured at fair value at the end of each reporting period. Whether subsequent changes in fair value are recorded depends on whether the derivative is designated as a hedging instrument and, if so, the nature of the item being hedged. The Company identifies certain derivatives as: i. fair value hedge of recognized assets or liabilities or of a firm commitment (fair value hedge); or ii. hedge of a particular risk associated with the cash flows of recognized assets and liabilities and highly probable forecasted transactions (cash flow hedge). At the inception of the hedging relationship, the Company documents the economic relationship between the hedging instruments and the hedged items, including expected changes in the cash flows of the hedging instruments. The Company documents its risk management objective and strategy for hedging transactions. Changes in the fair value of any derivative instrument that do not qualify for hedge accounting are immediately recognized in profit or loss and included in other financial revenue (expenses). The fair values of derivative financial instruments designated in hedging relationships are disclosed below. The total fair value of a hedging derivative is classified as a non-current asset or liability when the remaining maturity of the hedged item is greater than 12 12 The Company evaluates, both at the beginning of the hedging relationship and on an ongoing basis, whether the hedging instruments are anticipated to be highly effective in offsetting changes in the fair value or cash flows of the respective attributable hedged items. The actual results of each hedge for the hedged risk fall between 60% and 140%. The Company maintains a portfolio of energy contracts (purchase and sale) designed to meet supply and demand for energy consumption or supply. In addition, there is a portfolio of forward positions comprising contracts. There is no purchase commitment associated with this portfolio's sales contract. Taking into account its policies and risk limits, the Company has the flexibility to manage the contracts in this portfolio in order to profit from changes in market prices. This portfolio contains contracts that may be settled net in cash or another financial instrument (for example: by entering into an offsetting contract with the counterparty; or by "unwinding a position" from the contract prior to its exercise or expiration; or shortly after purchase, selling for the purpose of generating a profit from short-term fluctuations in price or gain on resale margin). These energy purchase and sale transactions occur on an active market and qualify as financial instruments because they are settled at net cash value and are easily convertible to cash. These contracts are treated as derivatives and are recognized in the statement of financial position at fair value on the date the derivative is entered into and remeasured at fair value on each reporting date. Financial assets and liabilities are offset, and the net amount is reported in the statement of financial position, when there is a legal right to offset the recognized amounts and intent to settle them on a net basis, or when the asset is realized and the liability is settled simultaneously. The legal right must be enforceable in the ordinary course of business and in the event of default, insolvency, or bankruptcy of the Company or the counterparty. The estimated fair value of these derivatives is based in part on price quotations published in active markets, to the extent that such observable market data exists, and in part on valuation techniques that take into account: (i) prices established in recent purchase and sale transactions, (ii) margin of risk in the supply, and (iii) projected market price in the availability period. A fair value gain or loss is recognized at the end of the reporting date whenever the fair value at initial recognition for these contracts differs from the transaction price. Observing the market value of Vale's shares, the Company determined the fair value of its equity financial assets and classified them accordingly. The equity forward was also measured and classified at fair value through profit or loss based on the Black & Scholes pricing model, which utilizes the stock price, volatility of the underlying stock, and interest rates as significant input parameters. Notional Fair Value December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Foreign exchange rate derivatives Forward agreements (i) 53,012 3,313,428 (485 ) 21,305 FX option agreements 676,214 — 25,360 — Commodity option agreements (ii) — — 21,744 — 729,226 3,313,428 46,619 21,305 Electricity derivatives Forward agreements — 1,407,476 — (248,123 ) — 1,407,476 — (248,123 ) Foreign exchange Swap agreements (interest) (iii) 9,255,278 3,019,917 (155,518 ) 154,654 Swap agreements (interest and FX) (iv) 17,191,070 13,223,981 790,840 3,380,554 Forward agreements (interest and FX) (v) 12,811,427 — 760,152 — Swap agreements (interest and inflation) (iii) 10,070,343 6,590,408 (500,444 ) 77,913 49,328,118 22,834,306 895,030 3,613,121 Share price risk Swap agreements (TRS) (vi) 1,515,827 1 |
OTHER TAX RECEIVABLE
OTHER TAX RECEIVABLE | 12 Months Ended |
Dec. 31, 2022 | |
OTHER TAX RECEIVABLE | |
OTHER TAX RECEIVABLE | 6 OTHER TAX RECEIVABLE Accounting policy Tax assets are measured at cost and primarily consist of (i) tax effects that are recognized when the asset is sold to a third party or recovered through amortization over the remaining economic life of the asset; and (ii) tax receivables that are expected to be recovered as refunds from tax authorities or as a reduction for future tax liabilities. December 31, 2022 December 31, 2021 COFINS (i) 975,878 1,333,868 ICMS 845,450 873,203 ICMS CIAP 118,809 106,250 PIS (i) 350,867 299,610 Tax credits 31,774 42,932 Others 76,348 145,304 2,399,126 2,801,167 Current 1,324,203 921,472 Non-current 1,074,923 1,879,695 (i) On May 13, 2021, the Federal Supreme Court ("STF") concluded the judgment of Extraordinary Appeal No. 574,706 Since the Federal Income Office ( Secretaria da Receita Federal Federal tax credits were used to pay the 2021 Imposto de Renda Pessoa Jurídica Contribuição Social sobre o Lucro Líquido Programa de Integração Social Contribuição para o Financiamento da Seguridade Social 2020 |
INVENTORIES
INVENTORIES | 12 Months Ended |
Dec. 31, 2022 | |
INVENTORIES | |
INVENTORIES | 7 . INVENTORIES Accounting policy: Inventories are stated at the lower of cost and net realizable value (the estimated selling price in the normal course of business, minus the estimated completion costs and estimated costs necessary to make the sale). The cost of finished and work-in-progress goods comprises direct materials, direct labor and an appropriate proportion of variable and fixed overheads, the latter of which are allocated based on normal operating capacity. Costs are assigned to individual inventory items based on weighted average costs. The provision for obsolete inventories is made for risks associated with the realization and sale of obsolete inventories, and is measured at net realizable value or cost, whichever is lower. December 31, 2022 December 31, 2021 Finished goods 1,504,134 814,320 Parts and accessories 168,777 180,286 Construction material 152,789 126,889 Warehouse and others 43,359 27,809 1,869,059 1,149,304 The balances are presented net of a provision of R$38,747 for obsolete inventories on December 31, 2022 (R$26,841 on December 31, 2021). |
INVESTMENTS
INVESTMENTS | 12 Months Ended |
Dec. 31, 2022 | |
INVESTMENTS | |
INVESTMENTS | 8 INVESTMENTS 8.1 INVESTMENTS IN ASSOCIATES Accounting policy: i. Subsidiaries Subsidiaries are all entities over which the Company has control, are fully consolidated from the date of acquisition of control and deconsolidated when control ceases to exist. Control is obtained when the Company is exposed or entitled to variable returns based on its involvement with the investee and has the ability to affect those returns through the power exercised in relation to the investee. Specifically, the Company controls an investee if, and only if, it has: • Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee); • Exposure or right to variable returns arising from its involvement with the investee; and • The ability to use its power over the investee to affect the value of its returns. There is usually a presumption that a majority of voting rights results in control. To support this presumption and when the Company has less than a majority of the voting rights of an investee, we consider all relevant facts and circumstances when assessing whether it has power over an investee, including: • The contractual agreement between the investor and other holders of voting rights; • Rights arising from other contractual agreements; and • The Company's voting rights and potential voting rights. Using consistent accounting policies, subsidiaries' financial statements are prepared for the same reporting period as the parent Company. Adjustments are made to the financial statements of the subsidiaries in order to conform their accounting policies to those of the Company. On consolidation, all transactions between related parties are eliminated. Unrealized gains resulting from transactions with investees recorded using the equity method are written off against the investment in proportion to the Company's ownership interest in the investee. Unrealized losses are eliminated in the same manner, but only if no evidence of impairment exists. ii. Associates Associates are entities over whose financial and operating policies the Company has significant influence, but neither control nor joint control. In preparing the consolidated financial statements, intragroup balances and transactions, as well as any unrealized income or expenses arising from intragroup transactions, are written off. In accordance with the equity method, the equity interest of associates attributable to the Company is recorded in the statement of profit or loss, under “Equity in earnings of associates”. Unrealized gains and losses arising from transactions between the Company and its investees are written off in proportion to the Company's ownership stake in these investees. Other comprehensive income of subsidiaries, associates, and joint venture is recorded directly under "Other comprehensive income" in the Company's shareholders' equity. Unrealized gains resulting from transactions with investments recorded using the equity method are written off in proportion to the Company's ownership interest in the investee. Unrealized losses are written off in the same manner, but only if there is no evidence of an impairment loss. Cosan’s subsidiaries are listed below: Direct stake in subsidiary December 31, 2022 December 31, 2021 Compass Gás e Energia (i) — 88.00% Cosan Lubes Investments Limited 70.00% 70.00% Cosan Corretora de Seguros Ltda. (ii) 100.00% — Cosan Global Limited 100.00% 100.00% Cosan Luxembourg S.A. (iii) 100.00% 100.00% Cosan Oito S.A. (iv) 100.00% — Cosan Nove (iv) 73.09% — Cosan Dez Participações S.A. (iv) 76.80% — Cosan Overseas Limited 100.00% 100.00% Pasadena Empreendimentos e Participações S.A. 100.00% 100.00% Atlântico Participações Ltda. 100.00% 100.00% Payly Soluções de Pagamentos S.A. (v) — 75.00% Cosan Limited Partners Brasil Consultoria Ltda. 97.50% 97.50% Sinlog Tecnologia em Logística S.A. 57.48% 72.25% Rumo S.A. 30.35% 30.35% Radar Propriedades Agrícolas S.A. 41.45% — Radar II Propriedades Agrícolas S.A. 50.00% — Nova Agrícola Ponte Alta S.A. 41.45% — Nova Amaralina S.A Propriedades Agrícolas 41.45% — Nova Santa Bárbara Agrícola S.A. 41.45% — Terras da Ponta Alta S.A. 41.45% — Castanheira Propriedades Agrícolas S.A. 41.45% — Manacá Propriedades Agrícolas S.A. 41.45% — Paineira Propriedades Agrícolas S.A. 41.45% — Violeta Fundo de Investimento Multimercado 100.00% 100.00% Tellus Brasil Participações S.A. (vi) 19.57% 5.00% Janus Brasil Participações S.A. (vi) 19.57% 5.00% Duguetiapar Empreendimentos e Participações S.A. (vi) 19.57% — Gamiovapar Empreendimentos e Participações S.A. (vi) 19.57% — (i) On December 23, 2022, the Company contributed its direct investment in Compass e to . As a result, now holds an indirect stake in Compass e of 67.58%. (ii) Subsidiary created to manage the Company's insurance contracts. (iii) On December 31, 2022, Lux had an unsecured liability of R$146,473. As shown in the table below, no events or conditions have been identified that, individually or collectively, raise substantial doubt about the entity's operational capacity to continue operating. The Company provides financial support to its subsidiaries. (iv) Entities created as part of the financial investment structure used to acquire Vale S.A. shares. See Note 1.3 contribution to Nove , the Company now directly and indirectly holds 33.63% of shares (v) Entity sold to as presented in Note 20 (vi) For the highlighted entities, the Company has an indirect interest of 0.43%, which grants a total interest of 20% of the share capital. The following are the Company's investments in its associates as of December 31, 2022: Number of shares in the investee Investor's shares Equity interest Economic benefit (%) 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% Gás de Alagoas S.A. - ALGÁS 810,896,963 238,728,878 29.44% 29.44% Companhia de Gás do Ceará - Cegás 39,400,000 11,599,428 29.44% 29.44% CEG Rio S.A. 1,995,022,625 746,251,086 37.41% 37.41% Companhia Paranaense de Gás - Compagás 33,600,000 8,232,000 24.50% 24.50% Companhia Potiguar de Gás - Potigas 4,245,000 3,523,350 83.00% 83.00% Companhia de Gás de Mato Grosso do Sul - Msgás 61,610,000 30,188,900 49.00% 49.00% Companhia de Gás de Santa Catarina - Scgás 10,749,497 4,407,293 41.00% 41.00% Sergipe Gás S.A. - SERGÁS 1,593,656 661,363 41.50% 41.50% Companhia Pernambucana de Gás - Copergás 163,485,912 67,846,653 41.50% 41.50% At January 1, 2022 Interest in earnings of associates Change of equity interest in subsidiary Other comprehensive income Dividends Disposal of investment (i) Capital increase Business combination (Note 8.3 ) Other At December 31, 2022 Tellus Brasil Participações S.A. 142,798 128,860 — — (30,756 ) — 58,806 (299,708 ) — — Janus Brasil Participações S.A. 183,357 150,687 — — (35,559 ) — 79,725 (378,210 ) — — Rhall Terminais Ltda 4,907 1,647 — — (900) — — — — 5,654 Termag - Terminal Marítimo de Guarujá S.A. 4,725 4,445 — — — — — — (706 ) 8,464 TGG - Terminal de Granéis do Guarujá S.A. 17,563 5,689 — — (5,784 ) — — — — 17,468 Terminal XXXIX S.A. 30,649 22,487 — — — — — — — 53,136 Elevações Portuarias S.A. — 6,190 135,159 — — 155,397 — — — 296,746 TUP Porto São Luis S.A. 394,380 49 — — — — — (393,579 ) (850 ) — Companhia Paranaense de Gás - Compagás — 19,931 — — (6,831 ) — — 411,737 — 424,837 Companhia Pernambucana de Gás - Copergás — 19,094 — — (9,493 ) — — 405,700 — 415,301 Companhia de Gás de Santa Catarina - Scgás — 34,885 — — (15,524 ) — — 608,468 — 627,829 Sergipe Gás S.A. - SERGÁS — 9,015 — — (3,441 ) — — 63,856 — 69,430 Companhia de Gás do Ceará - Cegás — 6,717 — — (4,189 ) — — 182,009 — 184,537 CEG Rio S.A. — 29,686 — — (16,542 ) — — 261,336 — 274,480 Companhia de Gás de Mato Grosso do Sul - Msgás — 13,530 — — (6,160 ) — — 284,173 — 291,543 Companhia Potiguar de Gás - Potigas — 9,066 — — (8,390 ) — — 168,211 — 168,887 Others 1,688 6,765 — 5,536 (2,985 ) — — 66,001 (1,374 ) 75,631 780,067 468,743 135,159 5,536 (146,554 ) 155,397 138,531 1,379,994 (2,930 ) 2,913,943 (i) Effect of the sale of control as described in Note 20 At January 1, 2021 Interest in earnings of associates 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 Financial information of associates: Balance as of December 31, 2022 Balance as of December 31, 2021 Assets Liabilities Shareholders’ equity Profit for the year Assets Liabilities Shareholders’ equity Profit (loss) for the year Tellus Brasil Participações Ltda — — — — 3,296,499 (502,734 ) 2,793,765 782,220 Janus Brasil Participações S.A. — — — — 4,261,432 (666,361 ) 3,595,071 1,048,514 Rhall Terminais Ltda. 33,382 (14,534 ) 18,848 5,811 31,068 (14,708 ) 16,360 4,073 Elevações Portuárias S.A. 950,538 (243,797 ) 706,741 127,554 — — — — Termag - Terminal Marítimo de Guarujá S.A. 273,760 (231,119 ) 42,641 19,881 276,284 (252,483 ) 23,801 11,726 TGG - Terminal de Granéis do Guarujá S.A. 254,748 (78,657 ) 176,091 58,139 253,310 (76,257 ) 177,053 37,150 Terminal XXXIX S.A. 433,412 (388,882 ) 44,530 44,530 335,511 (273,747 ) 61,764 10,075 TUP Porto São Luis S.A. — — — — 455,437 (67,523 ) 387,914 (7,410 ) 8.2 NON-CONTROLLING SHAREHOLDER’S EQUITY INTERESTS Accounting policy Transactions with non-controlling equity interests that do not result in a loss of control are accounted for as equity transactions – that is, as transactions with owners in their capacity as owners. The summarized financial information for each subsidiary with relevant non-controlling equity interests is provided below. The amounts disclosed for each subsidiary are prior to intercompany eliminations. Number of shares in the investee Non-controlling shareholders’ shares Non-controlling shareholders’ equity interest Tellus Brasil Participações S.A. 133,064,584 52,960,392 80.43% Janus Brasil Participações S.A. 286,370,051 112,905,168 80.43% Duguetiapar Empreendimentos e Participações S.A. 3,573,842 1,409,865 80.43% Gamiovapar Empreendimentos e Participações S.A. 12,912,970 5,093,776 80.43% Rumo S.A. 1,854,158,791 1,291,629,301 69.66% Radar Propriedades Agrícolas S.A. 1,266,986 633,493 58.55% Nova Agrícola Ponte Alta S.A. 160,693,378 80,346,689 58.55% Terras da Ponte Alta S.A. 16,066,329 8,033,165 58.55% Nova Santa Bárbara Agrícola S.A. 32,336,994 16,168,497 58.55% Nova Amaralina S.A. 30,603,159 15,301,580 58.55% Paineira Propriedades Agrícolas S.A. 132,667,061 66,333,531 58.55% Manacá Propriedades Agrícolas S.A. 128,977,921 64,488,961 58.55% Castanheira Propriedades Agrícolas S.A. 83,850,838 41,925,419 58.55% Radar II Propriedades Agrícolas S.A. 81,440,221 40,720,111 50.00% Commit Gás S.A. 110,993 54,387 49.00% Sinlog Tecnologia em Logística S.A. 108,567 46,164 42.52% Cosan Lubes Investments S.A. 34,963,764 10,489,129 30.00% Cosan Nove 7,663,761,734 2,062,583,640 26.91% Cosan Dez Participações S.A. 3,473,458,687 805,963,829 23.20% Compass Gás e Energia 714,190,095 85,702,404 12.00% Comgás 132,520,587 1,139,210 0.86% Cosan Limited Partners Brasil Consultoria Ltda 160,000 4,000 2.50% The following table provides a summary of information pertaining to each of the Company's subsidiaries that hold non-controlling equity interests, prior to any intra-group elimination: Balance as of January 1, 2022 Profit attributable to non-controlling interests Sales or purchase of interests Other comprehensive income Dividends Capital increase (i) | (ii) Acquisition of non-controlling interests Business combination (Note 8.3 Others Balance as of December 31, 2022 Comgás 28,466 14,881 — — (16,926 ) — — — 730 27,151 Sulgás — 6,466 — — (26,701 ) — (888,450 ) 908,883 (198) — Commit Gás S.A. — 107,593 — — (64,435 ) — — 2,015,493 — 2,058,651 Compass Gás e Energia 761,432 221,871 (78 ) 3,197 (201,024 ) — — — (2,815 ) 782,583 Rumo S.A. 10,527,777 357,642 (21,358 ) 2061 (89,194 ) — — — 20,218 10,797,146 Sinlog Tecnologia em Logística S.A. 6,549 (7,677 ) 16,039 — — — — — — 14,911 Cosan Limited Partners Brasil 14 (5 ) — — — — — — — 9 Cosan Lubes 683,143 145,981 — (127,123 ) — — — — — 702,001 Payly 2,602 (1,626 ) — — — — — — (976 ) — Cosan Nove — 53,353 (1,416,657 ) 10,070 (12,434 ) 4,000,910 — — (932 ) 2,634,310 Cosan Dez Participações S.A. — 14,965 (2,592,096 ) 5,073 (3,540 ) 3,888,341 — — (10,082 ) 1,302,661 Janus Brasil Participações S.A. — (10,971 ) — — — — (196,857 ) 3,981,107 — 3,773,279 Tellus Brasil Participações S.A. — 8,531 — — — — (7,508 ) 2,583,035 — 2,584,058 Gamiovapar Empreendimentos e Participações S.A. — 2,900 — — — — 4,975 497,806 — 505,681 Duguetiapar Empreendimentos e Participações S.A. — (788) — — — — (4,534 ) 76,179 — 70,857 Radar II Propriedades Agrícolas S.A. — 246,698 — 108 (124,858 ) — — — 756,931 878,879 Radar Propriedades Agrícolas S.A. — 34,002 — — (20,516 ) — — — 198,579 212,065 Nova Agrícola Ponte Alta S.A. — 97,035 — — (50,267 ) — — — 319,039 365,807 Nova Amaralina Propriedades Agrícolas S.A. — 8,000 — — (31,444 ) — — — 25,485 2041 Nova Santa Bárbara Agrícola S.A. — 53,686 — — (5,041 ) — — — 152,744 201,389 Terras da Ponte Alta S.A. — 39,890 — — (16,778 ) — — — 50,309 73,421 Paineira Propriedades Agrícolas S.A. — 58,604 — — (27,222 ) — — — 126,402 157,784 Manacá Propriedades Agrícolas S.A. — 46,793 — — (23,319 ) — — — 137,079 160,553 Castanheira Propriedades Agrícolas S.A. — 77,819 — — (66,151 ) — — — 199,327 210,995 Violeta Fundo de Investimento Multimercado 2,119,102 69,200 (107,359 ) 11,143 (132,885 ) — — — (1,959,201 ) — 14,129,085 1,644,843 (4,121,509 ) (95,471 ) (912,735 ) 7,889,251 (1,092,374 ) 10,062,503 (12,639 ) 27,516,232 (i) The Board of Directors approved, on December 23 and 28 2022 Nove Nove 100 % of the common shares issued by the subsidiaries. With the result of the operation, Cosan now holds, directly and indirectly, 67.58 % of the total share capital of Compass and 33.63 % of the share capital of Raízen. It should be noted that the rights and obligations of Cosan and the financial institutions, as shareholders of Cosan Dez and Cosan Nove The Company has a call option for all preferred shares acquired by minority shareholders, which may be exercised under the following conditions: i. Bradesco: in the period of the 3 10 ii. Itaú: in the period of the 3 10 10 30 The measurement of the fair value of these instruments is based on unobservable data, since the purchase price, if incurred by the Company, is calculated on the updated value of the shareholder's investment minus the updated dividends received. Minority shareholders do not hold a put option, and the equity risk of the minority shareholders' investment depends on whether or not the Company exercises its call option. (ii) The capital increase is stated net of preferred share issuance costs. At January 1, 2021 Profit attributable to non-controlling interests Sales or purchase of interests Other comprehensive income Dividends Capital increase 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 ) — 2,115,554 — 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 Summarized statement of financial position: Compass (i) Cosan Dez (i) Cosan Nove Comgás Moove Rumo Cosan Investments December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Current Assets — 1,929,639 2,015 — 2,721 — 4,810,931 4,148,735 1,777,104 1,327,472 2,474,218 1,161,027 784,813 147,662 Liabilities — (28,374 ) (126,916 ) — (169,079 ) — (3,844,998 ) (4,538,385 ) (1,341,106 ) (755,995 ) (852,071 ) (760,522 ) (638,804 ) (50,038 ) Current net assets — 1,901,265 (124,901 ) — (166,358 ) — 965,933 (389,650 ) 435,998 571,477 1,622,147 400,505 146,009 97,624 Non-current Assets — 4,453,679 5,738,715 — 9,954,431 — 7,853,180 8,122,763 2,204,878 1,946,181 20,971,764 21,568,088 14,251,017 4,337,142 Liabilities — (10,296) — — — — (7,798,360 ) (6,627,895 ) (1,208,604 ) (229,802 ) (7,402,742 ) (7,173,172 ) (208,987 ) (196,562 ) Non-current net assets — 4,443,383 5,738,715 — 9,954,431 — 54,820 1,494,868 996,274 1,716,379 13,569,022 14,394,916 14,042,030 4,140,580 Shareholders’ equity — 6,344,648 5,613,814 — 9,788,073 — 1,020,753 1,105,218 1,432,272 2,287,856 15,191,169 14,795,421 14,188,039 4,238,204 (i) On December 23, 2022, Cosan contributed the investment it held in Compass Gas and Power to Cosan Dez. Summarized statement of profit or loss and other comprehensive income: Compass Cosan Dez Cosan Nove Comgás December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 Net revenue — — — — — — — — — 17,414,153 11,709,713 8,317,691 Income before taxes — 1,710,947 920,426 64,496 — — 194,522 — — 2,113,698 2,274,269 1,719,877 Income tax and social contribution — 14,164 10,839 — — — — — — (302,219 ) (155,148 ) (569,264) Result for the year — 1,725,111 931,265 64,496 — — 194,522 — — 1,811,479 2,119,121 1,150,613 Other comprehensive results — — — — — — — — — 25,058 — — Total comprehensive results — 1,725,111 931,265 64,496 — — 194,522 — — 1,836,537 2,119,121 1,150,613 Attributable comprehensive income to non-controlling shareholders — 207,012 9,220 14,965 — — 52,353 — — 15,788 18,217 9,762 Dividends paid — 982,752 600 — — — — — — 1,872,731 1,649,653 1,135,669 Moove Rumo Cosan Investments December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 Net revenue 3,842,981 2,608,680 1,911,541 984,597 772,714 950,269 222,328 31,502 — Income before taxes 485,729 310,500 150,930 633,164 198,239 349,300 4,059,326 49,218 — Income tax and social contribution 11,665 (15,742) (1,484) (118,224) (47,701) (52,137) 1,027,986 (4,215) — Result for the year 497,394 294,758 149,446 514,940 150,538 297,163 5,087,312 45,003 — Other comprehensive results — — — 2,961 — — — — — Total comprehensive results 497,394 294,758 149,446 517,901 150,538 297,163 5,087,312 45,003 — Attributable comprehensive income to non-controlling shareholders 149,218 88,427 44,834 360,776 104,850 212,561 681,889 22,502 — Dividends paid 150 — — 35,733 — — 1,255,881 — — Summarized statements of cash flows: Compass Cosan Dez Cosan Nove Comgá s December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 Cash (generated (used in) in operating activities — (44,974 ) (18,046 ) 3 — — 2 — — 3,439,489 2,539,222 2,111,551 Cash (generated (used in) in investing activities — (26,764 ) 776,872 — — — (19,217 ) — — (646,720 ) (1,025,104 ) (1,768,298) Cash generated (used in) in financing activities — 1,265,679 (525,030 ) 2,011 — — 21,936 — — (2,443,161 ) (2,202,275 ) 198,890 Reduction of cash and cash equivalents — 1,193,941 233,796 2,014 — — 2,721 — — 349,608 (688,157 ) 542,143 Cash and cash equivalents at the beginning of the year — 232,819 5 — — — — — — 891,650 1,610,548 1,083,410 — (13,898 ) (982 ) — — — — — — — (30,741 ) (15,005) Cash and cash equivalents at the end of the year — 1,412,862 232,819 2,014 — — 2,721 — — 1,241,258 891,650 1,610,548 Moove Rumo Cosan Investments December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 Cash (generated (used in) in operating activities 292,204 95,461 71,654 145,654 (15,679) 463,170 193,099 21,690 — Cash (generated (used in) in investing activities (41,004) 77,742 (38,910) 2,467,567 (1,469,750) (6,632,353) (6,617) 49,227 — Cash generated (used in) in financing activities (197,994) (13,766) 14,874 (1,235,688) 714,115 7,037,144 (189,917) (15,650) — Reduction of cash and cash equivalents 53,206 159,437 47,618 1,377,533 (771,314) 867,961 (3,435) 55,267 — Cash and cash equivalents at the beginning of the year 761,698 492,619 319,733 791,802 1,568,667 700,706 55,267 — — Effect of FX variation on the cash balance and cash equivalents — 109,642 125,268 — (5,551) — — — — Cash and cash equivalents at the end of the year 814,904 761,698 492,619 2,169,335 791,802 1,568,667 51,832 55,267 — 8.3 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 measures non-controlling interests in the acquisition using one i. fair value; or ii. proportional share of the acquirer's identifiable net assets, which are mostly measured at fair value. The transferred consideration excludes amounts related to the liquidation of preexisting relationships. Typically, these amounts are recognized in profit or loss. Contingent consideration depends on an acquired business meeting targets within a fixed period. In order to calculate obligations at the time of acquisition and at each subsequent reporting date, projections of future performance are required. In addition, estimates are required to value the assets and liabilities acquired in business combinations. Intangible assets, such as brands, are frequently a crucial component of an acquired business because they enable us to derive greater value than would be possible otherwise. Measurement of fair values In measuring fair values, valuation techniques were used considering market prices for similar items, discounted cash flow, among others. Since this is a fair value measurement, the accounting for the acquisition will be revisited if new information obtained within one 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. 8.3.1 ACQUISITIONS IN 2022 During the year ended December 31, 2022, the Company and its subsidiaries (Compass, Atlântico and Moove) completed the acquisition of investments (Commit, Sulgás, TUP, Tirreno and PetroChoice), in addition to the acquisition of control of the investees referred to as the segment “Land” (Tellus, Janus, Gamiovapar and Duguetiapar), shown below. The paid and payable consideration, as well as the fair value of the assets acquired and liabilities assumed as of the date of acquisition, are detailed below: Sulgás Commit TUP Tirreno PetroChoice Land Consolidation effects Consolidated Transferred consideration - 1 945,979 2,097,758 393,579 70,188 2,342,820 202,861 — 6,053,185 Transferred consideration - 2 — — 411,224 15,000 — — — 426,224 Consideration to be transferred (term) — — — — — 804,773 — 804,773 Total consideration transferred 945,979 2,097,758 804,803 85,188 2,342,820 1,007,634 — 7,284,182 Recognized amounts of identifiable assets acquired and liabilities assumed Cash, cash equivalents and restricted cash 73,298 124,174 81,800 1,476 18,883 351,688 — 651,319 Trade receivables 90,828 142,528 — 35,882 305,588 110,569 — 685,395 Inventories 7,274 3,859 — 19,121 417,365 — — 447,619 Sectorial assets — 59,757 — — — — — 59,757 Right-of-use assets 3,786 4,785 — 16,664 93,811 609 — 119,655 Dividends receivable — 254,493 — — — — (51,525 ) 202,968 Current assets for sale — 726,243 — — — — — 726,243 Investment property and property held for sale — — — — — 9,478,011 — 9,478,011 Contract asset 25,958 61,777 — — — — — 87,735 Tax credits — — 1,841 2,134 — 9,556 — 13,531 Fixed assets — 257 351,041 5,015 478,563 12 — 834,888 Intangible assets 2,749,893 988,847 437,587 59,089 1,503,575 — (1,230,182 ) 4,508,809 Investments — 2,528,220 — — — — (76,729 ) 2,451,491 Other credits 142,180 87,248 155 5,026 46,525 21,578 — 302,712 Suppliers (107,833 ) (90,689 ) (202 ) (22,048 ) (187,767 ) (61,942 ) — (470,481 ) Loans and financing — — — (12,825 ) — — — (12,825 ) Deferred income tax and social contribution (871,183 ) (649,324 ) (66,606 ) — (96,272 ) (308,971 ) 418,262 (1,574,094 ) Taxes to pay (14,647 ) (31,217 ) — (1,825 ) — (28,793 ) — (76,482 ) Provision for contingencies (10,551 ) (11,508 ) (143 ) (2,714 ) — — — (24,916 ) Sectorial liabilities (117,881 ) (22,524 ) — — — — — (140,405 ) Dividends payable (104,048 ) — — — — (633,967 ) 51,525 (686,490 ) Lease (3,940 ) (8,543 ) — (16,664 ) (144,454) (628 ) — (174,229 ) Other obligations (8,272 ) (55,132 ) (670 ) (3,143 ) (92,997) (14,702 ) — (174,916 ) Non-controlling shareholders' equity interest (908,883 ) (2,015,493 ) — — — (7,138,127 ) — (10,062,503 ) Net assets acquired at fair value 945,979 2,097,758 804,803 85,188 2,342,820 1,784,893 (888,649 ) 7,172,792 Transferred consideration for acquisition of non-controlling interests — (468,070 ) — — — — — (468,070 ) Non-controlling shareholders' equity interest — — — — — — 888,649 888,649 Previously held equity interest — — (393,579 ) — — (677,918 ) — (1,071,497 ) Bargain purchase gain — — — — — (99,341 ) — (99,341 ) Transferred consideration, net of non-controlling interests 945,979 1,629,688 411,224 85,188 2,342,820 1,007,634 — 6,422,533 Cash received (73,298 ) (124,174 ) (81,800 ) (1,476 ) (18,883 ) (351,688 ) — (651,319 ) Cash to be transferred, referring to the acquisition made in installments — — — — — (804,773 ) — (804,773 ) Settled cash referring to installments of previous acquisitions — — — — — 322,255 — 322,255 Transferred consideration, net of acquired cash and non-controlling interests 872,681 1,505,514 329,424 83,712 2,323,937 173,428 — 5,288,696 If the acquisitions had been consolidated since January 1, 2022, the Company's consolidated statement of profit or loss and other comprehensive income for the period ending December 31, 2022 would reflect net revenue of R$41,634,966 and net income of R$6,536,891, as shown below: Commit TUP Tirreno PetroChoice Land Total Consolidated Consolidated with 12 Net operating revenue 554,364 — 87,467 907,848 347,919 1,897,598 39,737,368 41,634,966 Net profit (loss) for the year 342,967 (116 ) 2,370 (83,569 ) 3,454,364 3,716,016 2,820,875 6,536,891 Sulgás On January 3, 2022, Compass Gás e Energia S.A., through its subsidiary Compass Um Participações S.A. ("Compass Um") concluded the acquisition of 51% of the capital shares of Companhia de Gás do Estado do Rio Grande do Sul ("Sulgás") owned by the Government of the State of Rio Grande do Sul for the amount of R$945,979, net of an anticipated dividend of R$9,264. As of this date, Sulgás has been consolidated into the Company's financial statements. Sulgás is headquartered in the city of Porto Alegre, and its primary activity is the distribution of piped natural gas from the state of Rio Grande do Sul. This service is provided exclusively under a concession model that is in effect until August 2044. Its network of distribution totals approximately 1,400 km, serving more than 79,000 customers in 41 municipalities, with a distributed volume of 1.5 million m 3 The acquisition price was allocated as a concession right for gas distribution in the Company's evaluation. The fair value of intangible assets is R$2,749,893, which includes the allocation of concession rights of R$2,582,077, as determined by the existing concession agreement between Sulgás and the granting authority. The concession period is 50 years from the contracted date (April 19, 1994 to April 18, 2044). Non-controlling interest in Sulgás was measured according to the proportional share of interest in identifiable net assets. Since the date of acquisition, Sulgás has generated revenues and net income totaling R$1,860,342 and R$152,389, respectively, according to the consolidated profit or loss. Management, for the purposes of annual procedures, reassessed the business combination factors and did not identify material changes. TUP Porto São Luís On August 23, 2021, the Company, through its subsidiary Atlântico Participações Ltda. (“Atlântico”), entered into a binding proposal for the acquisition of 100% of Porto São Luís, a Company that owns a private terminal in São Luis/MA and whose primary objective is to increase international trade by connecting port, highways, and railroads. This transaction aims to establish a future joint venture in the mining sector, in which Cosan will contribute expertise in port logistics and management. Atlântico completed the acquisition of 100% of Porto's shares on February 11, 2022 (“Acquisition Date”), with 49% acquired on November 3, 2021 and the remainder on the Acquisition Date. With a 100% shareholding, Atlântico becomes the sole shareholder of Porto São Luís and assumes control. The transaction resulted in an allocation of R$436,594 in intangible assets in Licenses and Authorizations and a goodwill of R$621, representing the anticipated future economic benefit of synergies resulting from the acquisition. Goodwill is not expected to be deductible for income tax purposes. Since the acquisition date, Porto has not contributed to the consolidated information with revenues and has contributed with a loss of R$1,440. PetroChoice On May 23, 2022, the subsidiary Millennium Moove Corp acquired 100% of Stryker Intermediate Holdings and its operating subsidiaries ("PetroChoice"), a Delaware, U.S.A.-based limited liability Company and owner of all outstanding shares of the acquired capital shares. The entities specialize in comprehensive solutions for lubrication and contamination control, serving a wide range of needs and industries. The acquisition is part of Moove's strategic expansion plan, which aims to foster synergies in automotive and industrial products through technology and manufacturing, distribution and cross-selling opportunities with other regions already active, replicating the group's management, strategy and sales model. PetroChoice's consolidated financial statements were prepared in accordance with the Generally Accepted Accounting Principles in the United States of America (“US GAAP”) issued by the Financial Accounting Standards Board (“FASB”). In these financial statements, differences in the opening balance between these policies and IFRSs have been adjusted for equity accounting and consolidation. The Company identified adjustments to the goodwill and lease accounts during the evaluation. The Company recorded inventory, fixed assets and intangible assets at fair value of US$404,941 thousand (R$1,942,624). A goodwill value of US$83,421 thousand (R$400,196) was determined, which represents the future economic benefit anticipated from the acquisition's synergies. The consolidated profit or loss includes, since the acquisition date, net income and loss of R$1,639,657 and R$7,087, respectively, generated by PetroChoice. Tirreno On May 31, 2022, the subsidiary CLE acquired 100% of the shares of Tirreno, a privately held Company headquartered in Brazil, specialized in the production and sale of lubricating oils, additives and fluids. The acquisition |
INVESTMENT IN JOINT VENTURE
INVESTMENT IN JOINT VENTURE | 12 Months Ended |
Dec. 31, 2022 | |
INVESTMENT IN JOINT VENTURE | |
INVESTMENT IN JOINT VENTURE | 9. INVESTMENT IN JOINT VENTURE Accounting policy A joint venture is an agreement whereby the parties that have joint control of the agreement have rights to the net assets of the agreement. The Company, through its subsidiary Cosan Nove 36 The investment in joint venture is considered as non-current assets and is presented at cost less any impairment losses. Changes to the investment in joint venture were as follows on December 31, 2021: Before reorganization Raízen Combustíveis Raízen Energia Reorganization (note 1.2 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% - % 44.02 % At December 31, 2020 3,847,506 4,140,702 — 7,988,208 Interest in earnings of joint venture (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 1.2 ) — ( ) 3,204,832 — Dividends (ii) (716,230 ) ( ) 17,742 (1,070,201 ) At December 31, 2021 3,694,869 — 7,241,794 10,936,663 (i) As disclosed in Note 1.2 two Cosan . 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. Changes to investment in joint venture were as follows on December 31, 2022: Raízen S.A. Shares issued by the joint venture 10,352,509,484 Shares held by investor 4,557,597,117 Ownership percentage (directly and indirectly) 33.63% Balance as of December 31, 2021 10,936,663 Equity income (92,179) Asset valuation adjustment 1,053,226 Dividends (i) (676,354) Balance as of December 31, 2022 11,221,356 (i) Amount proposed and allocated within this period. During the year ended December 31, 2022, previously allocated dividends and interest on equity were paid, totaling R$517,233 and R$657,538 were constituted and paid within the year, totaling R$1,174,771. On May 1, 2022, Raízen concluded the acquisition of all the shares representing the share capital of Neolubes Indústria de Lubrificantes Ltda. (“Neolubes”). The contract provided for certain price adjustments after the transaction, which were signed and concluded between Raízen and the sellers on September 13, 2022. The transaction resulted in the recognition of gain on advantageous purchase, preliminarily, of R$263,051, which impacted the Company's equity income in the amount of R$116,190. 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, 20 22 The joint venture’s statement of financial position and statement of profit or loss are disclosed in Note 4 As of December 31, 2022, the Company was in compliance with the covenants of the agreement that governs the joint venture. |
PROPERTY, PLANT AND EQUIPMENT,
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES | 12 Months Ended |
Dec. 31, 2022 | |
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES | |
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES | 10 , INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES Accounting policy Impairment The recoverable amount is determined through value in use calculations, 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 past performance. Discounted cash flows were prepared over a ten five The Company performs annually a review of impairment indicators for intangible assets with defined useful lives, property, plant and equipment and right-of-use assets. Also, an impairment test is undertaken for goodwill and intangible assets with indefinite useful lives. Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. The assumptions used in discounted cash flow projections - estimates of future business performance, cash generation, long-term growth ( ten 10.1 PROPERTY, PLANT AND EQUIPMENT Accounting policy: Initial recognition and measurement Cost, less accumulated depreciation and any accumulated impairment losses, is used to value fixed assets. Subsequent expenditures are only capitalized when it is probable that the associated future economic benefits will accrue to the Company. Ongoing repairs and maintenance costs are expensed as they are incurred. Depreciated from the date of availability for use or, for constructed assets, from the date of completion and readiness for use. Unless it is capitalized as part of the cost of another asset, depreciation is calculated on the carrying amount of fixed assets less estimated residual values using the straight-line method over its estimated useful life and recognized in profit or loss. Land is not depreciated. Methods of depreciation, such as useful lives and residual values, are reviewed at the end of each fiscal year or when there is a significant change without an expected consumption pattern, such as a relevant incident or technical obsolescence. If applicable, any adjustments are recorded as changes to accounting estimates. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Buildings and improvements 4% - 5% Machines, equipment and installations 8% - 11% Furniture and utensils 10% - 15% Wagons 2.9% - 6% Locomotives 3.3% - 8% Permanent railways 3% - 4% IT equipment 20% Others 10% - 20% a) Reconciliation of carrying amount Land, buildings and improvements Machines, equipment and installations Wagons and locomotives (i) Permanent railways Construction in progress Other assets Total Cost Balance as of January 1, 2021 1,577,244 1,457,234 6,720,465 7,371,126 2,804,174 508,056 20,438,299 Additions 1,481 7,678 1,681 6,501 3,852,472 1,326 3,871,139 Business combination — — — — — 41 41 Write-offs (81 ) (36,189 ) (123,980 ) (758 ) — (86,027 ) (247,035 ) Transfers 416,859 538,179 1,140,723 1,378,132 (3,412,132 ) 14,700 76,461 Exchange differences 5,662 7,712 — — 139 3,646 17,159 Balance as of December 31, 2021 2,001,165 1,974,614 7,738,889 8,755,001 3,244,653 441,742 24,156,064 Business combination (Note 8.3 310,730 227,257 — — 133,474 163,427 834,888 Additions 5,442 12,208 772 11,120 3,387,758 — 3,417,300 Write-offs (3,368 ) (15,368 ) (61,536 ) (52 ) (9,024 ) (52,056 ) (141,404 ) Transfers (ii) 182,504 141,379 316,211 1,650,431 (2,419,014 ) 30,668 (97,821 ) Exchange differences 35,544 131,160 — — 684 142,215 309,603 Write-off due to sale of investment (396,614 ) (528,452 ) — — (23,444 ) (5,043 ) (953,553 ) Balance as of December 31, 2022 2,135,403 1,942,798 7,994,336 10,416,500 4,315,087 720,953 27,525,077 Depreciation amount Balance as of January 1, 2021 (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 ) Write-offs 3,922 35,165 112,362 196 — 82,574 234,219 Transfers (20,891 ) 21,190 59,284 (14,569 ) — (242 ) 44,772 Exchange differences (2,645 ) (4,331 ) — — — (1,949 ) (8,925 ) Balance as of December 31, 2021 (618,618 ) (882,542 ) (2,842,050 ) (3,115,641 ) (13,379 ) (35,281 ) (7,507,511 ) Additions (73,712 ) (187,599 ) (566,999 ) (670,921 ) — (66,064 ) (1,565,295 ) Write-offs — 8,170 51,591 8 — 53,031 112,800 Transfers (ii) (16,135 ) 26,732 139 23,931 — (514 ) 34,153 Exchange differences (22,244 ) (120,943 ) — — — (127,215 ) (270,402 ) Write-off due to sale of investment 208,661 406,945 — — — 4,008 619,614 Balance as of December 31, 2022 (522,048 ) (749,237 ) (3,357,319 ) (3,762,623 ) (13,379 ) (172,035 ) (8,576,641 ) Balance as of December 31, 2021 1,382,547 1,092,072 4,896,839 5,639,360 3,231,274 406,461 16,648,553 Balance as of December 31, 2022 1,613,355 1,193,561 4,637,017 6,653,877 4,301,708 548,918 18,948,436 (i) As of December 31, 2022, wagons and locomotives worth R$ 745,203 (R$ 745,203 as of December 31, 2021) were pledged as collateral for bank loans. (ii) Transfers of fixed assets resulting from capitalization and other reclassifications of those assets. b) Capitalization of borrowing costs The subsidiary Rumo’s capitalized borrowing costs were R$86,614 on December 31, 2022 (R$70,609 on December 31, 2021), using an average rate of 13.25% (11.81% on December 31, 2021), while Compass capitalized R$62,365 at an average rate of 6.27% p.a. (R$7,512 and 2.78% p.a in the year ended December 31, 2021). 10.2 INTANGIBLE ASSETS AND GOODWILL Accounting policy: a) Goodwill Goodwill is initially recognized in accordance with the accounting policy for business combinations (see Note 8.3 Goodwill acquired in a business combination is assigned to the Company's CGUs or groups of CGUs that are anticipated to benefit from the synergies created by the business combination. b) Other intangible assets Other acquired intangible assets with a short useful life are measured at cost, less accumulated amortization and any accumulated impairment losses. c) Customer relationships Costs incurred in developing gas systems for new customers (including pipelines, valves, and other equipment) are considered intangible assets and amortized over the contract's term. The costs associated with the customer portfolio and right-of-use and operation contracts are considered as intangible assets and amortized over the contract's term. d) Concession rights Comgás has a public concession agreement for a natural gas distribution service in which the Granting Authority controls what services will be provided and the price, as well it holds a significant participation in the infrastructure at the end of the concession. This concession agreement represents the right to charge users for gas supply during the term of the agreement. Accordingly, the subsidiary Comgás recognizes this right as an intangible asset. Comgás is subject to regulation, control and supervision of ARSESP. ARSESP establishes the maximum values of Comgás’s rates and regulates and supervises its business. Pursuant to Comgás’s concession agreement, every five Such margins are adjusted annually by the IGP-M minus the efficiency factor determined for each tariff cycle by ARSESP. The intangible asset comprises: (i) the concession right recognized upon the business combination of Comgás, which is being amortized over the concession period on a straight line basis, considering the extension of the distribution services for another 20 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 resulting from the business combination with Rumo Malha Norte were fully allocated to the Rumo Malha Norte concession and amortized in a straight-line basis. f) Port authorization and license The subsidiary TUP possesses a license that authorizes the installation of a private port terminal, with no expiration date as long as the property is used for this purpose. Given this entity's core activity, the Company allocated a significant portion of the purchase price to this authorization, which is classified as an intangible asset with an indefinite useful life. g) Subsequent expenses Subsequent expenses are capitalized only if they increase the future economic benefits embodied in the particular asset to which they pertain. All other expenses are recorded in profit or loss as incurred. h) Amortization Except for goodwill and intangible assets with indefinite useful life, intangible assets are amortized using a straight-line method over their estimated useful lives, beginning on the date they are acquired or made available for use. At each reporting date, the depreciation methods, useful lives, and residual values are evaluated and adjusted as necessary. Goodwill Concession Right Licenses Brands and patents Customer Relationships Others Total Cost Balance as of January 1, 2021 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 Write-offs (224 ) (169,815 ) — — (44 ) (3,146 ) (173,229 ) Transfers — 1,109,131 (92,447 ) 9,201 (786 ) 140,253 1,165,352 Exchange differences 19,625 — — 3,232 24,481 3,361 50,699 Balance as of December 31, 2021 1,132,817 19,616,524 379,182 66,640 1,604,067 509,053 23,308,283 Additions 10,031 — 2,605 — 113,497 16,622 142,755 Business combination (Note 8.3 402,055 2,508,558 436,594 98,382 1,062,832 388 4,508,809 Write-offs — (57,723 ) — — (19 ) 579 (57,163 ) Transfers (i) — 837,788 (1,911 ) — (6 ) 61,295 897,166 Exchange differences (21,909 ) — 771 (1,099 ) 47,613 (2,110 ) 23,266 Write-off due to sale of investment (62,922 ) (5,403 ) (317,148 ) — — (26,169 ) (411,642 ) Balance as of December 31, 2022 1,460,072 22,899,744 500,093 163,923 2,827,984 559,658 28,411,474 Amortization amount Balance as of January 1, 2021 — (3,357,779 ) (247,896 ) — (905,032 ) (227,265 ) (4,737,972 ) Additions — (588,411 ) (11,838 ) — (116,860 ) (38,524 ) (755,633 ) Write-offs — 152,236 — — 114 3,828 156,178 Transfers — (116,305 ) 92,447 (9,201 ) 533 (146,481 ) (179,007 ) Exchange differences — — — — (7,363 ) (2,988 ) (10,351 ) Balance as of December 31, 2021 — (3,910,259 ) (167,287 ) (9,201 ) (1,028,608 ) (411,430 ) (5,526,785 ) Additions — (773,765 ) (8,879 ) — (164,843 ) (35,667 ) (983,154 ) Write-offs — 25,658 — — 1 (155 ) 25,504 Transfers (i) — — — — — (60 ) (60 ) Exchange differences — — (771 ) — 22,956 (2,838 ) 19,347 Write-off due to sale of investment — 5,403 157,743 — — 12,470 175,616 Balance as of December 31, 2022 — (4,652,963 ) (19,194 ) (9,201 ) (1,170,494 ) (437,680 ) (6,289,532 ) Balance as of December 31, 2021 1,132,817 15,706,265 211,895 57,439 575,459 97,623 17,781,498 Balance as of December 31, 2022 1,460,072 18,246,781 480,899 154,722 1,657,490 121,978 22,121,942 (i) The total of transfers also includes R$ 35,057 a) Amortization methods and useful lives Intangible assets (except goodwill) Annual amortization rate December 31, 2022 December 31, 2021 Concession rights Compass (i) During the concession period and extension 11,614,163 8,953,495 Rumo (ii) 1.59% 6,632,618 6,752,770 18,246,781 15,706,265 Licenses Port operation license 3.70% 44,305 211,895 Licenses and authorizations (iii) Indefinite 436,594 — 480,899 211,895 Brands and patents: Comma Indefinite 47,929 57,439 PetroChoice (iii) Indefinite 104,354 — Tirreno (iii) Indefinite 2,439 — 154,722 57,439 Customer relationships: Compass 20.00% 285,423 276,811 Moove (iii) 5% to 30% 1,367,493 297,286 Others 20.00% 4,574 1,362 1,657,490 575,459 Others Software license 20.00% 65,108 46,770 Others 20.00% 56,870 50,853 121,978 97,623 Total 20,661,870 16,648,681 (i) Intangible assets of the public gas distribution service concession, representing the right to charge users for the supply of gas, consisting of: (i) concession rights recognized in the business combination and (ii) concession assets; (ii) Refers to the railway concession contract held by . The amount will be amortized until 2079 (iii) Authorization for: (i) installation of port terminal activities; and operation of the port facility by the subsidiary TUP Porto , (ii) lubrication and contamination control solutions, (iii) production and sale of lubricating oils, additives and fluids. See Note 8.3 b) Goodwill and intangibles with an indefinite useful life Below we show the carrying amount of goodwill and intangible assets with indefinite useful lives allocated to each of the cash generating units: December 31, 2022 December 31, 2021 Goodwill Brands and patents Licenses and authorizations Goodwill Brands and patents Cash generating unit Moove 1,296,266 154,722 — 916,742 57,439 Cash generating unit Compass 100,192 — — 94,891 — Cash generating unit Rumo 37,529 — — 100,451 — Cash generating unit Cosan investimentos 26,085 — 436,594 20,733 — 1,460,072 154,722 436,594 1,132,817 57,439 In general, future cash flow projections for the Company assume growth rates of 2.7% (3% in 2021 To determine the present value of cash flows, a pre-tax discount rate is utilized. Before taxes and in nominal terms, discount rates ranged between 10.1% and 24.8% (between 8.3% and 12.2% in 2021 The main assumptions for the first part of the financial model consider inflation and GDP by region where the cash generating unit Future cash flows were constructed considering the following factors: (i) EBITDA for the cash-generating unit, adjusted for other relevant operating cash items and recurring capital expenditures; (ii) the Cosan Group discount rate (WACC) before taxes; and (iii) a growth rate calculated using the inflation index by region. The annual impairment test utilized the following assumptions: Premises % Yearly Risk-free rate (T-Note 10 3.50% Inflation (BR) 3.87% Inflation (US) 2.30% Inflation (UK) 2.56% Country risk premium (BR) 5.19% Country risk premium (UK) 1.03% Country risk premium (ARG) 20.71% Market risk premium 5.11% Tax rate (BR) 34.00% Tax rate (UK) 19.00% Tax rate (ARG) 30.00% Determining the recoverability of assets depends on certain key assumptions that are influenced by the market, technological, and economic conditions prevailing at the time this recovery is tested; therefore, it is not possible to predict whether there will be future losses due to a reduction in recoverability and, if so, whether they would be material. During the year ended December 31, 2022, the Company did not identify any additional indicators of impairment, so no 2021 10.3 CONTRACT ASSET Accounting policy Contract assets are measured based on their acquisition cost, which includes capitalized borrowing costs. The depreciable amounts in the concession contract are transferred to intangible assets when the assets are put into operation. The useful life is reassessed whenever this assessment reveals that the amortization period will exceed the term of the concession agreement, a portion of the asset is converted into a financial asset because it represents a receivable from the granting authority. This classification follows IFRI C 12 - Concession Agreements. Compass Moove Total Cost value: Balance as of December 31, 2020 686,690 9,248 695,938 Additions 1,020,176 37,203 1,057,379 Write-offs — (25,439 ) (25,439 ) Transfer to intangible assets (i) (1,021,896 ) — (1,021,896 ) Balance as of December 31, 2021 684,970 21.012 705,982 Additions 1,217,818 10,823 1,228,641 Write-offs — (25,156 ) (25,156 ) Business combination (Note 8.3 87,735 — 87,735 Transfer to intangible assets (i) (880,188 ) 1,701 (878,487 ) Balance as of December 31, 2022 1,110,335 8,380 1,118,715 (i) Included in the amount of transfers is a portion of the intangible asset that was reclassified as a financial asset. During the year ended December 31, 2022, R$109,265 were added to internally generated intangible assets (R$83,046 in the year ended December 31, 2021). a) Investment commitments (unaudited) The indirect subsidiary Comgás assumed commitments in its concession contract for investments (expansion, improvements, and maintenance) to be carried out during the estimated concession period until 2049 Considering that the concession contract provides for incentive regulation, defining an efficient business plan at each five The other distributors do not have investment commitments to be made during the concession period. b) Capitalization of borrowing costs During the year ended December 31, 2022, the indirect subsidiary Comgás capitalized R$70,884 at a weighted average annual rate of 12.06%p.a. (compared to R$33,829 and 8.45% in the year ended December 31, 2021). During the year ending December 31, 2022, the indirect subsidiary Sulgás capitalized R$217 at a weighted average rate of 4.10%p.a. 10.4 RIGHT-OF-USE ASSETS Accounting policy The right-of-use asset is initially measured at cost, which includes the initial measurement value of the lease, adjusted for any lease payments made up to the commencement date, 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 site where 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 then depreciated on a straight-line basis from the date of commencement until 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 the lease right-of-use asset reflects the likelihood that the lessee will exercise the purchase option. In this instance, the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined in the same manner as property, plant, and equipment. In addition, the right-of-use asset is periodically adjusted for certain remeasurements of the lease and impairment losses, if any. The subsidiary Rumo evaluated its railway concessions within the scope of interpretation IFRIC 12 Land, buildings and improvements Machines, equipment and installations Wagons and locomotives Software Vehicles Railway and port infrastructure Total Cost: Balance as of January 1, 2021 380,828 39,122 933,325 82,369 13,925 7,462,368 8,911,937 Business combination 3,240 — — — — — 3,240 Additions 73,039 47,554 43 — 15,219 15,108 150,963 Contractual readjustments 41,663 48,784 5,242 4,659 41 330,312 430,701 Write-offs (12,121 ) (2,836 ) — — — — (14,957 ) Transfers (233,296 ) 7,264 — — — (7,475 ) (233,507 ) Exchange differences 1,530 2,561 — — (86 ) — 4,005 Balance as of December 31, 2021 254,883 142,449 938,610 87,028 29,099 7,800,313 9,252,382 Business combination (Note 8.3 116,919 2,693 — — 43 — 119,655 Additions 91,799 73,317 1,006 — 4,561 111,457 282,140 Contractual readjustments 9,008 52,972 3,480 (1,079 ) 1,540 155,734 221,655 Write-offs (24,005 ) (724 ) — — (218 ) (106,363 ) (131,310 ) Exchange differences 5,114 (2,237 ) — — (282 ) — 2,595 Balance as of December 31, 2022 453,718 268,470 943,096 85,949 34,743 7,961,141 9,747,117 Amortization amount: Balance as of January 1, 2021 (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 Write-offs 3,880 2,229 — — — — 6,109 Exchange differences (265 ) (1,506 ) — — 35 — (1,736 ) Balance as of December 31, 2021 (67,919 ) (29,258 ) (399,218 ) (16,959 ) (15,125 ) (776,636 ) (1,305,115 ) Additions (65,254 ) (81,349 ) (34,990 ) (4,015 ) (7,713 ) (267,094 ) (460,415 ) Write-offs 6,099 710 — — 943 20,535 28,287 Exchange differences 1,577 1,246 — — 172 — 2,995 Balance as of December 31, 2022 (125,497 ) (108,651 ) (434,208 ) (20,974 ) (21,723 ) (1,023,195 ) (1,734,248 ) Balance as of December 31, 2021 186,964 113,191 539,392 70,069 13,974 7,023,677 7,947,267 Balance as of December 31, 2022 328,221 159,819 508,888 64,975 13,020 6,937,946 8,012,869 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. 10.5 INVESTMENT PROPERTY AND HELD FOR SALE Accounting policy: Investment properties are initially value at cost, including transaction costs. Upon initial recognition, investment properties are measured at fair value, which reflects market conditions at the date of the statement of financial position, with changes recorded in profit or loss. Revenue from the sale of agricultural properties is not recognized in income until (i) the sale is complete, (ii) the Company determines that payment by the buyer is probable, (iii) the revenue can be reliably measured, and (iv) the Company has transferred all risks associated with the property to the buyer and no longer has any involvement with the property. The gains from the sale of agricultural properties are reported as net income on the profit or loss, while the costs are reported as cost of properties sold. The fair value of agricultural properties was determined using the direct comparative method of market data applied to transactions involving comparable properties (type, location, and quality of property) and, to a lesser extent, using sales quotes for potential transactions involving comparable assets (level 3 11.20 13.75 6.5 9 The portfolio is evaluated annually by external specialists and periodically by internal professionals who are technically qualified to conduct this type of evaluation. The Company classifies noncurrent assets (primarily agricultural investment properties from the Cosan Investimentos segment) and divestment groups as held for sale if their carrying amounts are recovered primarily through a sale transaction as opposed to continued use. Noncurrent assets and divestment groups classified as held for sale (with the exception of investment properties measured at fair value) are recorded at the lower of carrying amount and fair value less selling costs. Costs to sell are the incremental costs directly attributable to the sale of an asset (divestment group), excluding financial and income tax expenses. The criteria for classification as held for sale are satisfied only when the sale is highly probable and the asset or group to be disposed of is immediately available for sale in its current state. The actions required to close the sale must indicate that it is unlikely that significant changes will be made or that the decision to sell will be reversed. The management must be committed to the asset sale plan, and the sale must be completed within one Investment properties held for sale continue to be measured at fair value. In the statement of financial position, assets and liabilities classified as held for sale are presented separately. The balances of investment properties are shown below: Investment Properties Properties held for sale Total Balance as of January 1, 2021 — — — Business combination 3,875,752 — 3,875,752 Changes to the fair value of investment properties 17,116 — 17,116 Others (6,172 ) — (6,172 ) Balance as of December 31, 2021 3,886,696 — 3,886,696 Changes to the fair value of investment properties 1,311,691 — 1,311,691 Business combination (Note 8.3 9,209,626 268,385 9,478,011 Additions 17,477 — 17,477 Transfers (322,430 ) 322,430 — Sale of agricultural properties intended for sale — (550,432 ) (550,432 ) Balance as of December 31, 2022 14,103,060 40,383 14,143,443 Current — 40,383 40,383 Non-current 14,103,060 — 14,103,060 14,103,060 40,383 14,143,443 |
COMMITMENTS
COMMITMENTS | 12 Months Ended |
Dec. 31, 2022 | |
COMMITMENTS | |
COMMITMENTS | 11 COMMITMENTS Taking into account the current gas supply contracts, the subsidiaries have total financial commitments with a present value of R$ 12,964,677, which includes the minimum established in the contract for both commodities and transport and expires in December 2027. 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 Central sub-concession contract provides for investments with a fixed term ( one three 645,573 As of December 31, 2022, the physical execution of the obligation book projects was 76% (65% and 56% on December 31, 2021 and 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 year |
CONCESSIONS PAYABLE
CONCESSIONS PAYABLE | 12 Months Ended |
Dec. 31, 2022 | |
CONCESSIONS PAYABLE | |
CONCESSIONS PAYABLE | 12 CONCESSIONS PAYABLE Accounting policy This account contains the balance of lease payments at issue in disputes with the granting authority. Upon transfer from the "lease" account, the initial registration is completed at the value of the installment at maturity. These values are then adjusted using the SELIC rate. In this account, balances are maintained in installments with the Granting Authority. The initial registration is for the balance owed following the resolution of the dispute. These values are then adjusted using the SELIC rate. Balances payable for granted concession rights ("Concessions and Grants"), initially recorded as a counterpart to intangible assets, are also recorded in this account (Note 10.2 The following measurement is performed at the effective rate. December 31, 2022 December 31, 2021 Disputed lease and concession: Rumo Malha Paulista S.A. 37,842 55,170 Rumo Malha Oeste S.A. 1,957,149 1,747,233 1,994,991 1,802,403 Lease installment: Rumo Malha Paulista S.A. 1,138,076 1,145,450 1,138,076 1,145,450 Concessions and grants: Rumo Malha Sul S.A. 81,112 85,713 Rumo Malha Paulista S.A. 118,655 20,682 Rumo Malha Central S.A. 18,576 - 218,343 106,395 Total 3,351,410 3,054,248 Current 256,759 160,771 Non-current 3,094,651 2,893,477 3,351,410 3,054,248 a) Disputed lease and concession Rumo Malha Oeste also pleads for the reestablishment of the economic and financial balance, lost due to the cancellation of transportation contracts existing at the time of privatization, configuring changes in the regulatory scenario and conditions established in the Privatization Notice - in addition, the growth forecasts that defined the business value did not materialize. The lawsuit is pending before the Federal Regional Court of the second Region. The amount referring to the Company’s overdue installments was guaranteed by the acquisition of public debt securities ( Letras Financeiras do Tesouro Tribunal Regional Federal Management, supported by the opinion of its lawyers, assesses the chances of success as probable, but maintains the record of the liability because it is a contractual obligation not yet withdrawn from the Company, and because the amount is still pending. On July 21, 2020, the Company filed with the ANTT, a request to qualify for a new bidding process to third parties of the object of the Concession Contract signed between Rumo Malha Oeste and the Brazilian government, through the Ministry of Transport (“Re-bidding Process”), according to Federal Law No. 13,448 9,957 The total amount of judicial deposits related to the aforem entioned cases is R$24,125 (R$ 22,119 on December 31, 2021). b) Leases and grants within the scope of IFRS 16 December 31, 2022 December 31, 2021 Leases: Rumo Malha Sul 542,996 623,155 Rumo Malha Paulista 539,900 508,169 Rumo Malha Oeste 185,324 216,101 Elevações Portuárias — 97,046 Portofer Transporte Ferroviário Ltda. 11,658 13,921 1,279,878 1,458,392 Grants: Rumo Malha Paulista (renewal) 732,727 590,594 Malha Central 792,374 614,410 1,525,101 1,205,004 Total 2,804,979 2,663,396 Current 350,719 274,774 Non-current 2,454,260 2,388,622 2,804,979 2,663,396 c) Investment commitments Typically, the sub-concession contracts to which the subsidiary Rumo, through its subsidiaries, is a party include commitments to make investments with particular characteristics during the duration of the contract. We can highlight: (i) The addendum for the renewal of the Malha Paulista concession, which stipulates the execution of a series of investment projects to increase capacity and reduce urban conflicts over the duration of the concession, is estimated by the agency to cost R$6,100,000 (updated until December 2017). Of this amount, approximately R$3,000,000 represents obligations, of which 22% had been physically executed as of the date of the statement of financial position. (ii) The Central sub-concession agreement stipulates fixed-term investments ( one three years Due to the sale of the stake in EPSA ( Note 1.2 |
OTHER TAXES PAYABLE
OTHER TAXES PAYABLE | 12 Months Ended |
Dec. 31, 2022 | |
OTHER TAXES PAYABLE | |
OTHER TAXES PAYABLE | 13 OTHER TAXES PAYABLE Accounting policy The Company incurs various taxes and contributions, including municipal, state, and federal taxes, taxes on bank deposits and withdrawals, turnover taxes, regulatory fees, and income tax, among others. Additionally, it is subject to other taxes on its activities that do not generally represent an expense. December 31, 2022 December 31, 2021 Tax debts installments 208,760 200,664 ICMS 271,688 278,351 COFINS 246,501 88,214 PIS 43,524 15,082 Social Security charges 42,186 34,215 IRRF 14,553 11,024 Others 86,517 55,559 913,729 683,109 Current 760,041 536,220 Non-current 153,688 146,889 913,729 683,109 The amounts due on non-current liabilities present the following maturity schedule: December 31, 2022 December 31, 2021 from 13 24 2,255 4,370 from 25 36 656 1514 from 37 48 656 716 from 49 60 656 716 over 60 149,465 139,573 153,688 146,889 |
INCOME TAX AND SOCIAL CONTRIBUT
INCOME TAX AND SOCIAL CONTRIBUTION | 12 Months Ended |
Dec. 31, 2022 | |
INCOME TAX AND SOCIAL CONTRIBUTION | |
INCOME TAX AND SOCIAL CONTRIBUTION | 14 INCOME TAX AND SOCIAL CONTRIBUTION Accounting policy The statutory income tax 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 It is the expected tax payable or receivable on taxable profit or loss for the year, using tax rates enacted or substantively enacted as of the date of the statement of financial position, as well as any adjustments to tax payable in respect of prior years. b) Deferred tax Deferred tax is recognized as temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation and tax loss. The measurement of deferred tax reflects how the Company expects, at the end of the reporting period, to realize or settle the carrying value of its assets and liabilities. Deferred tax is measured at the rates anticipated to be applied to temporary differences upon their reversal, using rates enacted or substantively enacted as of the date of the statement of financial position. If there is a legally enforceable right to offset current tax assets and liabilities, and if they relate to taxes imposed by the same tax authority on the same taxable entity, deferred tax assets and liabilities are offset. c) Tax exposure In calculating the amount of current and deferred tax, the Company considers the impact of uncertain tax positions and the possibility of additional taxes and interest being owed. This evaluation is based on estimates and assumptions and may involve a series of future event judgments. New information may become available, causing the Company to change its opinion regarding the sufficiency of existing tax liabilities; such changes in tax obligations will have an impact on tax expenses in the period in which the determination is made. d) Recoverability of deferred income tax and social contribution When evaluating the recoverability of deferred taxes, Management takes future taxable income projections and changes in temporary differences into account. The recoverability of the deferred tax asset in the parent Company does not depend on taxable income projections. When it is unlikely that a portion or all of the tax liability will be realized, the tax asset is reversed. No deadline exists for the utilization of tax losses and negative bases, but the utilization of these accumulated losses from prior years is limited to 30% of annual taxable income. The Company and its subsidiaries adhere to both the letter and spirit of the tax laws and regulations of the countries in which they conduct business, being committed to good tax practices. They are also committed to the practice of transfer pricing that respects the principles of full competition and the rules defined by the tax legislation of the jurisdictions in which they operate, with transparency of operations, business ethics, and no use of practices that result in an artificial reduction in taxation. a) I ncome tax and social contribution expenses reconciliation December 31, 2022 December 31, 2021 December 31, 2020 Profit before taxes 2,702,471 6,250,876 1,990,961 Income tax and social contribution nominal rate (34%) (918,840 ) (2,125,298 ) (676,927 ) Adjustments to determine the effective rate Interest in earnings of investees (non-taxable income) ( i ) 139,185 1,734,883 207,940 Differences in tax rates on earnings from operating profit (vii) (16,973 ) 55,910 19,793 Granted income tax incentive 197,307 199,687 109,081 Share-based payment transactions (73 ) 450 9,941 Interest on shareholders’ equity (26,058 ) (72,804 ) (24,773 ) Non-deductible expenses (donations, gifts, etc.) (13,788 ) (28,061 ) (4,183 ) Tax losses not recorded (228,579 ) (203,809 ) (170,017 ) ICMS benefit - extemporaneous tax credits (ii) 345,067 290,745 — ICMS benefit - current period (iii) 242,694 118,107 — Rate difference 446,293 5,577 — Amortization of the effects on formation of joint venture (iv) — 402,571 — Goodwill amortization effect 1,271 1,271 1,271 Other (v) (71,205 ) 66,355 25,207 Selic on indebtedness (vi) 22,103 — — Income tax and social contribution - current and deferred 118,404 445,584 (502,667 ) Effective rate (4.38 ) % (7.13 ) % 25.25 % (i) Equity income of R$129,792 represents the amortization of Raízen's capital gain, which is considered a temporary difference. (ii) During the year ended December 31, 2022, the indirect subsidiary Comgás recognized an extemporaneous credit in the amount of R$ 272,593 (R$240,251 principal and R$32,342 interest), used to offset against income tax, social contribution, PIS and COFINS payable overdue in the year, related to overpayments of income tax and social contribution, due to the non-taxation of the benefit of reducing the ICMS tax base in the State of São Paulo from 12% to 15% pursuant to art. 8 45,900 62,399 2016 2017 2018 2019 (iii) Beginning January 1, 2021, the subsidiary Comgás changed its tax procedure by excluding the benefit of reduction in the ICMS calculation base, granted by the State of São Paulo, directly from the calculation of Income tax and social contribution for the current year. (iv) Reversal of deferred income tax and social contribution obligations on the amortization of capital gains due to the gain recorded in the formation of Raízen. (v) During the year ended December 31, 2021, the Company reversed deferred Income tax and social contribution totaling R$284,738 on put interest option in the investment operation involving Cosan Investimentos e Participações S.A. and the banks which are preferred shareholders, due to the liquidation of the put option. (vi) Considering the effects of STF’s judgement on case RE No. 1,063,187 2022 (vii) Earnings from operating profit from overseas companies b) Deferred income tax assets and liabilities Below are presented the tax effects of temporary differences that give rise to significant parts of the Company's deferred tax assets and liabilities: December 31, 2022 December 31, 2021 Deferred tax assets from: Income tax losses 2,244,654 1,739,847 Negative base of social contribution 809,556 627,860 Temporary differences Foreign exchange variation - Loans and financing 1,701,529 1,667,500 Provision for lawsuits 204,303 222,454 Impairment provision (Rumo Malha Oeste) 34,469 34,704 Post-employment benefit obligation 152,373 160,082 Provisions for uncertain tax credits and tax losses 31,880 21,747 Provision for non-recoverability of taxes 70,815 67,760 Share-based payment transactions 82,480 50,114 Lease 167,962 189,890 Unrealized loss with derivatives 674,554 — Provisions for profit sharing 124,833 98,224 Business combination – fixed assets 36,535 24,318 Business combination – intangible assets 119,060 111,590 Selic on indebtedness 100,264 100,369 Other temporary differences 581,059 342,307 Other 507,151 232,647 Total 7,643,477 5,691,413 Deferred tax liabilities from: Temporary differences Useful life review (401,926 ) (350,110 ) Business combination – fixed assets (76,263 ) (40,294 ) Tax goodwill (359,100 ) (397,239 ) Unrealized income with derivatives (226,243 ) (1,028,058 ) Fair value adjustment on debts (548,726 ) (126,174 ) Marketable securities (1,150,916 ) (62,593 ) Investment properties (391,382 ) (100,197 ) Capitalized interest (108,616 ) (44,563 ) Effects on the formation of joint venture (106,254 ) (602,673 ) Business combination - fixed/intangible assets (4,486,211 ) (3,492,345 ) Post-employment obligations (4,594 ) — Lease (11,797 ) (3,219 ) Provisions (79,092 ) (11,427 ) Other (687,601 ) (198,949 ) Total (8,638,721 ) (6,457,841 ) Total deferred taxes recorded (995,244 ) (766,428 ) Deferred tax assets 4,474,124 3,051,628 Deferred tax liabilities (5,469,368 ) (3,818,056 ) Total deferred, net (995,244 ) (766,428 ) c) Changes in deferred income tax Assets: Tax loss and negative basis Post-employment benefit obligations Employee benefits Provisions Property plant and equipment Unrealized income with derivatives Leases Intangible Unregistered credits Others Total Balance as of January 1, 2021 3,503,692 200,461 60,209 996,530 399,537 — — — ( ) 2,372,324 5,213,755 Credited / charged from income for the year 565,197 (12,737 ) 101,836 93,396 (433,371 ) — — — ( ) (1,642,143 ) (1,491,712 ) Other comprehensive results — (27,642 ) — — — — — — ( ) 20,035 (7,754 ) Recognized in shareholders' equity 5,878 — — 68 — — — — — 4,267 10,213 Business combination 44 — — (10,129 ) (19,513 ) — — — — — (29,598 ) Foreign exchange differences — — — — — — — — — 1,213,324 1,213,324 Transference ( ) — ( ) ( ) 53,347 — 189,890 111,590 2,483,035 57,027 783,185 Balance as of December 31, 2021 2,367,707 160,082 148,338 688,972 — — 189,890 111,590 — 2,024,834 5,691,413 Credited / charged from income for the year 686,503 (7,709 ) 58,975 233,554 — 674,554 (21,928 ) 7,470 — 299,687 1,931,106 Recognized in shareholders' equity — — — — — — — — — (13,071 ) (13,071 ) Foreign exchange differences — — — — — — — — — 34,029 34,029 Balance as of December 31, 2022 3,054,210 152,373 207,313 922,526 — 674,554 167,962 119,060 — 2,345,479 7,643,477 Liabilities: Effects on the formation of joint venture Post-employment obligation Intangible Unrealized income with derivatives Property, plant and equipment Lease Debt fair value adjustment Provisions Others Total Balance as of January 1, 2021 (1,135,036 ) — (3,603,568 ) (2,206,216 ) — (25,459 ) 526,002 — (560,369 ) (7,004,646 ) Credited / charged from income for the year 466,528 — 51,732 1,063,297 — 456,858 (653,320 ) — 126,479 1,511,574 Other comprehensive results — — — 108,546 — 230 — — (127,076 ) ( 18,300 ) Business combination — — — — — — — — ( 163,284 ) (163,284 ) Transference 65,835 — 59,491 6,315 ( ) ( ) 1,144 ( ) ( ) ( ) Balance as of December 31, 2021 (602,673 ) — (3,492,345 ) (1,028,058 ) (350,110 ) (3,219 ) (126,174 ) (11,427 ) (843,835 ) (6,457,841 ) Credited / charged from income for the year 496,419 (4,594 ) 369,455 807,391 (51,816 ) (8,578 ) (355,946 ) (67,665 ) (1,784,407 ) (599,741 ) Other comprehensive results — — — (5,576 ) — — — — (1,469 ) (7,045 ) Business combination (Note 8.3 — — (1,363,321 ) — — — (66,606 ) — (144,167 ) (1,574,094 ) Balance as of December 31, 2022 (106,254 ) (4,594 ) (4,486,211 ) (226,243 ) (401,926 ) (11,797 ) (548,726 ) (79,092 ) (2,773,878 ) (8,638,721 ) Total deferred taxes recognized (995,244 ) The Company determined the period for offsetting its deferred tax assets on tax losses, social contribution negative basis and temporary differences based on the projection of its taxable income and long-term strategic planning, with the following realization expected on December 31, 2022: December 31, 2022 within 1 273,887 1 2 216,750 2 3 644,339 3 4 623,869 4 5 982,785 5 8 1,119,631 8 10 612,863 Total 4,474,124 Rumo Malha Sul and Rumo Malha Oeste have tax losses and temporary differences in the amount of R$1,463,526 and R$825,770 respectively (R$1,370,146 and R$785,894 on December 31, 2021, respectively), that under current conditions, do not meet the requirements for recognition of the deferred income tax and social contribution due to the lack of predictability of future generation of taxable income. |
PROVISION FOR LEGAL PROCEEDINGS
PROVISION FOR LEGAL PROCEEDINGS AND JUDICIAL DEPOSITS | 12 Months Ended |
Dec. 31, 2022 | |
PROVISION FOR LEGAL PROCEEDINGS AND JUDICIAL DEPOSITS | |
PROVISION FOR LEGAL PROCEEDINGS AND JUDICIAL DEPOSITS | 15 PROVISION FOR LEGAL PROCEEDINGS AND JUDICIAL DEPOSITS Accounting policy They are recognized as other expenses when the Company has a present or constructive obligation as a result of previous events, it is expected that an outflow of resources will be required to settle the obligation, and the amount can be estimated with reasonable certainty. The chance of loss evaluation is comprised of existing facts, the hierarchy of laws, case law, the most recent court decisions, the legal system's relevance, and the opinion of outside counsel. Provisions are examined and altered for conditions, such as the expiration of the statute of limitations, the conclusion of tax audits, or the identification of additional exposures based on new matters or judicial decisions. Provisions for lawsuits resulting from business combinations are measured at fair market value at the acquisition date. As of December 31, 2022 and December 31, 2021, the Company had contingent liabilities and judicial deposits pertaining to: Provision for lawsuits December 31, 2022 December 31, 2021 Tax 747,647 647,610 Civil, environmental and regulatory 662,052 585,034 Labor 391,487 411,417 1,801,186 1,644,061 Judicial deposits December 31, 2022 December 31, 2021 Tax 585,988 500,484 Civil, environmental and regulatory 92,411 169,857 Labor 136,045 252,720 814,444 923,061 Changes in provision for lawsuits: Tax Civil, environmental and regulatory Labor Total Balance as of January 1, 2021 635,406 350,769 374,723 1,360,898 Provisioned in the year 24,559 103,805 114,596 242,960 Write-offs by reversal / payment (15,331 ) (56,931 ) (117,238 ) (189,500 ) Interest (i) 2,976 187,391 39,336 229,703 Balance as of December 31, 2021 647,610 585,034 411,417 1,644,061 Provisioned in the year 71,063 159,758 153,789 384,610 Write-offs by reversal / payment (56,447 ) (238,912 ) (225,044 ) (520,403 ) Conversion effect 3,994 15,786 52 19,832 Interest (i) 81,427 140,386 51,273 273,086 Balance as of December 31, 2022 747,647 662,052 391,487 1,801,186 (i) Includes write-off of interest due to reversals. The Company has legal proceedings secured by assets or by means of cash deposits, bank guarantees or guarantee insurance. The Company has probable indemnity lawsuits in addition to those mentioned, and as they represent contingent assets, they were not reported. a) Probable losses Tax The main tax proceedings for which the risk of loss is probable are described below: December 31, 2022 December 31, 2021 Compensation with FINSOCIAL (i) 312,721 300,470 INSS (ii) 98,657 97,847 ICMS credit (iii) 125,723 85,965 PIS and COFINS 30,446 28,427 IPI 60,852 43,461 Income tax and social contribution 11,676 8,553 Others 107,572 82,887 747,647 647,610 (i) Compensation of FINSOCIAL with federal taxes, based on a September 2003 final and non-appealable court ruling in the case records where the constitutionality of FINSOCIAL was discussed. Compensation of taxes remains a topic of administrative discussion. (ii) Amount provisioned as INSS, the majority of which is comprised of amounts related to social security contributions levied on billing in accordance with article 22 -A of Law 8.212 / 91 , the constitutionality of which is being litigated. The amounts are deposited with the court. The leading case, RE 611.601 (item 281 ), is being decided by the Federal Supreme Court. (iii) ICMS required by the State of São Paulo as a result of disallowances of diesel oil credits utilized in agro-industrial production. The stay of execution was overturned, as were the subsequent appeals. Civil, Environmental and Regulatory Lawsuits The Company and its subsidiaries are involved in a number of Indemnity Lawsuits, Public Civil Actions, and Administrative Proceedings where, in the opinion of its legal counsel, the risk of loss is probable. Labor claims Additionally, the Company and its subsidiaries are parties to labor claims filed by former employees and outsourced service providers claiming, among other things, the payment of: overtime and reflexes; night shift premium, unhealthy work premium, hazardous work premium; possible non-compliance with regulatory norms of the Ministry of Labor; alleging inadequate working conditions; reintegration into employment; compensation for moral and material damages resulting from an accident at work and other grounds; return of payroll deductions, such as confederative contribution, union contribution and others; uninterrupted shift journey; on call; collective moral damages; wage differences; subsidiary liability in relation to service providers; and others. In addition, the Ministry of Labor has filed public civil actions against the Company for alleged violations of labor standards, including work and safety rules, working conditions, and work environment. Conduct Adjustment Terms have been signed with Brazilian authorities. b) Possible losses The main lawsuits for which we anticipate a risk of loss as possible are outlined below: December 31, 2022 December 31, 2021 Tax 16,079,589 14,647,917 Civil, environmental and regulatory 6,597,105 6,939,743 Labor 782,080 859,830 23,458,774 22,447,490 Civil, environmental and regulatory: December 31, 2022 December 31, 2021 Civil (i)(ii)(vi)(vii)(ix)(x) 3,336,284 4,221,797 Environmental (iv) 1,764,671 1,472,542 Regulatory (iii)(v)(viii) 1,496,150 1,245,404 6,597,105 6,939,743 Several civil, environmental, and regulatory judicial and administrative proceedings involving the Company and its subsidiaries present a potential for loss. The majority of civil litigation consists of contractual and extracontractual claims for damages. In the environmental realm, the processes involve commitment terms, civil investigations, and public civil actions. Regarding cases involving substantial sums, the following are the most pertinent: (i) Upon assuming the business activities of another Company that does not belong to the Group, the indirect subsidiary S.A. assumed responsibility for the R$ 192,470 15,000 for reimbursement based on this obligation. A provision of R$ 18,422 (ii) Rumo is a party to the execution of a conduct adjustment term signed with the Federal Prosecutor’s Office, in which the latter alleges that was not transporting cargo in the region and, as a result, required the execution of a daily fine and an increase in the fine amount. The total amount of the case's contingency account is R$118,068; 50% of the amount is provisioned and the remainder is categorized as possible. (iii) Rumo is a defendant in a lawsuit filed by the former Federal S.A., which has since been succeeded by the Federal Government, in which the latter seeks the conviction of the indirect subsidiary for alleged damages resulting from the deactivation of the electrical transmission network. A verdict is awaited. A verdict is awaited. The demand is categorized as probable, with a current value of R$328,626. (iv) Rumo , along with the Municipality of and others, is a defendant in a public civil action in which the MPF alleges a lack of structure for level crossings along the municipalities of the subsection, as well as indiscriminate horn use. Risk estimated at R$130,349. (v) The subsidiary was served in the Public Civil Action that seeks compensation for the environmental contamination that occurred in the former area of the de last year. Several have been filed against various businesses, and the initial amount assigned by the Public Ministry is R$288,000. We have filed an answer demonstrating that the subsidiary did not utilize the landfill in question, and we are currently awaiting a ruling on the merits. (vi) The Company is a defendant in a claim for the collection of legal fees filed by Alexandre and others, in which they seek that the Company and other defendants be sentenced to the payment of alleged legal fees that would be owed to the plaintiffs and total close to R$280,000. The lawsuit is awaiting the verdict of the Plaintiffs' Appeal and the Company's Adhesive Appeal ( ) in order to increase the conviction in fees borne by the losing party. (vii) The subsidiary is a defendant in a lawsuit filed by Petroleum e , which seeks to hold the Company liable for material damages, loss of profits, and fines for contract breach. The total amount involved in this lawsuit is R$134,000. A first instance verdict on the merits is awaited. (viii) The Brazilian Institute of Environment and Natural Resources ( do e dos - IBAMA) fined in 2013 (ix) IBAMA fined in 2014 2015 (x) In November 2021, the Administrative Council for Economic Defense ( de – CADE), in the administrative proceeding brought on behalf of a former client, among other things, sentenced to pay a fine in the updated amount of R$291,767, a decision which was upheld in the judgment of the motion for clarification. Such amount is inconsistent with own precedents. considers the risk of loss of R$26,842 to be probable, based on the technical analysis of its external legal team, and classifies the difference as a possible contingency. Currently, a decision is pending on the indirect subsidiary's appeal in the lawsuit to annul the notice of infraction. (xi) Rumo filed a lawsuit against ANTT to prevent enrollment in CADIN on the basis of alleged unpaid quarterly installments of the concession contract due to compensation made with labor debts owed by the defunct Federal S.A. A favorable decision was rendered in favor of , prohibiting enrollment in CADIN and stating that the compensation of amounts could be carried out. For administrative compensation, a survey of credits and debits is pending at this time. The total amount is R$127,820. Tax December 31, 2022 December 31, 2021 Isolated fine - Federal taxes (i) 762,613 461,747 Income tax and social contribution (ii) 6,297,550 5,404,264 ICMS - Tax on circulation of goods (iii) 2,987,853 2,877,144 IRRF (iv) 1,366,268 1,251,394 PIS and COFINS (v) 2,556,050 2,368,123 MP 470 (vi) 388,166 398,184 Stock Grant Plan 68,846 65,260 IOF on loans (vii) 149,323 136,286 Reward Credit Compensation (viii) 138,753 186,048 IPI - Tax on industrialized products (ix) 374,274 492,025 INSS 161,037 180,533 Others 828,856 826,909 16,079,589 14,647,917 (i) Disregard of the REPORTO tax benefits, resulting in the application of a fine equal to 50% of the value of the acquired goods. (ii) Infraction notices and lawsuits have been issued by the Special Department of Federal Revenue of Brazil ( Especial da Federal do ) regarding (a) disallowance of amortization of goodwill expenses based on future profitability resulting from corporate operations; (b) capital gains on the sale of an equity interest; (c) labor provisions; and (d) still, there are infraction notices issued by the Federal Revenue Service in 2011 2013 2019 (iii) The ICMS lawsuits primarily concern (a) the disallowance of ICMS credits related to the acquisition of diesel oil, goods supposedly classified as use and consumption, and suppliers whose state registrations were revoked, among others; (b) proof of delivery of goods sold with FOB clause; (c) ICMS on transport services for export; and (c) divergence in the application of legislation governing operations with tax substitution. (iv) Collection of IRRF on (a) alleged capital gain from the acquisition of foreign companies and (b) disallowance of IRRF compensation on swap transactions. (v) Disallowances of PIS and COFINS credits calculated in the non-cumulative system as a result of divergence in the definition of inputs. (vi) Applications for the payment in installment of federal tax debts are partially denied by the Special Department of Federal Revenue of Brazil due to insufficient tax losses to settle the respective debts. (vii) IOF charges related primarily to (a) current accounts maintained by the Company's subsidiaries and (b) financial transactions between group companies. (viii) Offset statements via the PERD/COMP electronic system that reference "premium credit" are considered as not declared by the Special Department of Federal Revenue of Brazil. (ix) Collection of IPI credits disallowed for the purchase of raw materials used in the production of immune products. The Company has not identified effects of IFRIC 23 - Uncertainty over Income Tax Treatments that could significantly affect the Company’s consolidated financial statements. Labor The indirect subsidiary Rumo Malha Paulista is currently a party to a pending Labor Court Public Civil Action. This lawsuit originated from an inspection conducted on the Company MS Teixeira, which was subcontracted by Prumo Engenharia Ltda. ("Prumo Engenharia"), which, in turn, was subcontracted by Rumo. According to the inspection, MS Teixeira employees worked under degrading and slave-like conditions. Prumo Engenharia assumed full liability for the condition of these employees, including labor and contractual liabilities, as well as all damages resulting from the alleged subcontractors' working conditions. With the sanction by the then-Ministry of Labor and Employment, Prumo Engenharia rescinded the employment contracts of these workers, with the caveat that Rumo did not participate in these acts. In addition, a criminal investigation against Rumo was initiated and closed. Notwithstanding the above, the Public Ministry of Labor filed a public civil action (Ação Civil Pública - ACP) against Malha Paulista, without involving Prumo in the dispute, requesting the payment of compensation for collective pain and suffering in the order of R$100,000 (among other commitments), which was held partially valid, condemning the subsidiary in obligations to act and to refrain, as well as collective moral damages in the amount of R$15,000. Rumo entered into an agreement with the Public Ministry of Labor in which it agreed to comply with several obligations pertaining to working conditions and pay a total of R$20,000 in compensation to various social entities. Superior Labor Court upheld the validity of the agreement. After approval, the Attorney General's Office filed an appeal challenging only the allocation of the indemnity, arguing that the indemnity should have been allocated to the Worker Support Fund (Fundo de Amparo ao Trabalhador – FAT). The appeal awaits a decision. The outcome of the appeal will have no effect on Rumo. We consider the risk of provision as remote. |
SHAREHOLDERS EQUITY
SHAREHOLDERS EQUITY | 12 Months Ended |
Dec. 31, 2022 | |
SHAREHOLDERS’ EQUITY | |
SHAREHOLDERS’ EQUITY | 16 SHAREHOLDERS’ EQUITY a) Share capital Accounting policy Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from equity. Income taxes relating to transaction costs of an equity transaction are accounted for in accordance with policy described in Note 14. On December 31, 2022, the subscribed capital is R$8,402,544 (R$6,365,853 on December 31, 2021), fully paid-up, and represented by 1,874,070,932 registered, book-entry, non-par value common shares. The limit for authorized share capital permitted by the bylaws is R$9,000,000. On April 30, 2021, a share split was approved at the Annual and Extraordinary General Meeting in the proportion of 1:4 On April 29, 2022, the Extraordinary General Meeting approved an increase in the capital shares of the Company of R$2,036,691, the distribution of dividends of R$1,423,757, the allocation of the legal reserve of R$348,753 and the statutory reserve of R$264,181. As of December 31, 2022, the share capital of the Company consists of the following: Ordinary actions Shareholding structure Amount % Controlling shareholders 672,312,942 35.87% Board of directors and executive officers 26,115,335 1.39% Free float 1,168,209,823 62.34% Outstanding shares 1,866,638,100 99.60% Treasury shares 7,432,832 0.40% Total 1,874,070,932 100.00% b) Treasury shares Accounting policy Treasury shares consists of shares that have been repurchased by the Company for specific and limited purposes. Cosan holds the necessary number of shares for future employee share-based payment plans, and the volume is treated similarly to treasury shares for accounting purposes. On May 9, 2022, the Company's Board of Directors approved a new Share Buyback Program with a term of up to November 9, 2023, covering up to 110,000,000 common shares, or 9.39% of the total marketable shares. In accordance with applicable law, repurchased shares may be used to satisfy obligations arising from potential exercise of share-based compensation plans,holding in treasury, sale, or cancellation. On December 31, 2022, the Company held 7,432,832 shares with a market price of R$17.12 (5,440,772 shares on December 31, 2021). This increase is attributable to: (i) the delivery of 1,487,709 shares, valued at R$19,678, to members of share-based compensation plans; (ii) the buyback of 3,683,500 shares, valued at R$59,506; and (iii) the sale of 203,731 shares, valued at R$1,752, to members of share-based compensation plans. The amount of cash received from the executives, R$2,370, generated a capital reserve gain of R$618. c) Statutory reserve - special reserve Accounting policy Its purpose is to strengthen working capital and finance the maintenance, expansion, and development of the Company's core activities. d) Legal Reserve Accounting policy In accordance with Law 6,404 . e) Dividends Accounting policy The Company's bylaws, at the end of the year, provide for the distribution of a 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 Payable December 31, 2022 Net income for the year 1,176,032 Constitution of the legal reserve – 5% (58,802 ) Calculation basis for distribution of dividends 1,117,230 Mandatory minimum dividends – 25% (279,308 ) Statutory reserve 837,922 Movement of dividends payable Balance as of January 1, 2021 1,413,222 Dividends for the current year 2,031,301 Dividends paid/offset (2,644,889 ) Balance as of December 31, 2021 799,634 Dividends for the current year 1,237,779 Dividends paid/offset (1,145,407 ) Balance as of December 31, 2022 892,006 ii. Receivable Investments in associates Investment in joint venture Total Balance as of December 31, 2020 3,261 77,494 80,755 Proposed dividends 15,786 1,070,201 1,085,987 Proposed interest on own capital — 189,378 189,378 Dividends received (16,426 ) (819,729 ) (836,155 ) Balance as of December 31, 2021 2,621 517,344 519,965 Proposed dividends 278,654 549,883 828,537 Interest on proposed equity — 107,544 107,544 Business combination (Note 8.3 202,968 — 202,968 Dividends received (323,096 ) (1,174,771 ) (1,497,867 ) Balance as of December 31, 2022 161,147 — 161,147 f) Other comprehensive (loss) income December 31, 2021 Comprehensive (loss) income December 31, 2022 Loss on cash flow hedge (1,917,917 ) 556,022 (1,361,895 ) Foreign currency translation differences 96,362 1,914,552 2,010,914 Actuarial loss on defined benefit plan (266,574 ) 46,911 (219,663 ) Deferred tax on actuarial losses of defined benefit plan 90,635 (15,950 ) 74,685 Gain on measurement of financial instrument 15,000 (60,631 ) (45,631 ) Change in fair value of financial assets 5,794 71,358 77,152 Deferred tax on change in the fair value of a financial asset (1,970 ) (24,262 ) (26,232 ) Predecessor adjustment 1,381,798 (1,381,798 ) — (596,872 ) 1,106,202 509,330 Attributable to: Owners of the Company (521,609 ) 1,089,155 567,546 Non-controlling interests (75,263 ) 17,047 (58,216 ) 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 (329,956 ) 63,382 (266,574 ) Deferred tax on actuarial losses of defined benefit plan 112,185 (21,550 ) 90,635 Gain on measurement of financial instrument 15,000 — 15,000 Change in fair value of financial assets 2,356 3,438 5,794 Deferred tax on change in the fair value of a financial asset (801 ) ( 1,169 ) (1,970 ) Predecessor adjustment — 1,381,798 1,381,798 (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 ) |
EARNINGS PER SHARE
EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2022 | |
EARNINGS PER SHARE | |
EARNINGS PER SHARE | 17 EARNINGS PER SHARE Accounting policy a) Basic earnings per share Basic earnings per share are calculated by dividing: the profit attributable to the Company’s, excluding equity servicing costs other than common stock; and the weighted average number of outstanding common shares during the year, adjusted for bonuses paid with common shares issued during the year and, if applicable, excluding treasury shares. b) Diluted earnings per share Diluted earnings per share adjusts the values used in determining basic earnings per share to account for: the effect after tax on interest income and other financing costs related to potentially dilutive common stock; the weighted average number of additional shares of common stock that would be outstanding if all potentially dilutive shares of common stock were converted; and Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding during the year. Earnings per share after potentially dilutive instruments are computed by adjusting earnings and the number of shares for the impact of potentially dilutive instruments. On April 30, 2021, the Annual and Extraordinary General Meeting approved a share split in the proportion of 1 4 The calculation of earnings per share is shown in the table below (in thousands of Reais, except for amounts per share): December 31, 2022 December 31, 2021 December 31, 2020 Income attributable to holders of common shares of Company used in calculating basic earnings per share 1,176,032 6,312,140 859,482 Diluting effect of the share-based plan of subsidiaries (1,739 ) (5,249 ) (5,739 ) Income attributable to holders of common shares of Company used in the calculation of diluted earnings per share 1,174,293 6,306,891 853,743 Weighted average number of common shares outstanding - (in thousands of shares) Basic 1,869,077 1,834,533 1,834,533 Dilutive effect of the share-based plan 5,503 4,687 6,741 Diluted 1,874,580 1,839,220 1,841,274 Earnings per share Basic R$0.6292 R$3.4407 R$0.4685 Diluted R$0.6264 R$3.4291 R$0.4637 Diluting instruments There are two categories of potential dilutive effects for the Company and its subsidiaries: shares options and put options. For stock grants, a calculation is performed to determine the impact of dilution on the profit attributable to the parent Company's shareholders as a result of the exercise of stock grants in subsidiaries. It is assumed that the put option was converted into common stock, and the profit attributable to the parent's shareholders is adjusted accordingly. Anti dilution instruments For the year ended December 31, 2022, 61,540,876 (on 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, 2022 | |
NET SALES | |
NET SALES | 18. NET SALES Accounting policy: The Company recognizes revenue primarily from the following sources: a) Sale of products The Company operates in the production and distribution of lubricants including the brands Mobil and Comma. Products are sold in contracts identified with individual customers and in sets, as a package of goods or services. The Company recognizes sales revenues upon delivery to the customer as long as revenue and costs can be measured reliably, receipt of the consideration is probable and there is no continuous involvement of management with the products. Delivery is considered to be the moment when the customer accepts the goods, and the risks and benefits related to the property are transferred. Some lubricant sales contracts cannot be purchased separately from a package of services. However, the goods and services are clearly distinct in the contracts. This sales modality represents two 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 measure d . 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 respective regulated tariffs, 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 its natural gas distribution concessions 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 profit or loss 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 Revenue from energy trading is recorded based on bilateral contracts signed with market agents and duly registered with the Electric Energy Trading Chamber (Câmara de Comercialização de Energia Elétrica), or “CCEE.” Revenue is recognized based on the energy sold and at prices specified under the supply to customers and wholesalers’ contracts. The Company may sell the energy produced in two ), or “ACR,” where electricity is sold to distribution agents. i. 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 ii. 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. December 31, 2022 December 31, 2021 December 31, 2020 Gross revenue from sales of products and services 46,391,989 30,317,755 24,040,536 Construction revenue 1,217,818 1,020,176 885,630 Indirect taxes and deductions (7,872,439 ) (5,472,930 ) (4,488,331 ) Net sales 39,737,368 25,865,001 20,437,835 In the following table, revenue is disaggregated by products and service lines and timing of revenue recognition: December 31, 2022 December 31, 2021 December 31, 2020 At a point in time Natural gas distribution 18,268,994 10,447,312 7,372,957 Electricity trading 238,544 620,495 775,479 Lubricants and base oil 8,690,659 5,546,093 4,283,704 Leasing and sale of properties 834,616 — — Other 418,847 277,571 59,923 28,451,660 16,891,471 12,492,063 Over time Railroad transportation services 9,503,965 7,103,706 6,680,307 Port elevation 337,543 335,965 285,852 Construction revenue 1,217,818 1,020,176 885,630 Services rendered 289,418 566,364 131,871 11,348,744 9,026,211 7,983,660 Elimination (63,036 ) (52,681 ) (37,888 ) Total 39,737,368 25,865,001 20,437,835 |
COSTS AND EXPENSES BY NATURE
COSTS AND EXPENSES BY NATURE | 12 Months Ended |
Dec. 31, 2022 | |
COSTS AND EXPENSES BY NATURE | |
COSTS AND EXPENSES BY NATURE | 19 COSTS AND EXPENSES BY NATURE The Company and its subsidiaries account for natural gas distribution concession contracts using the intangible asset model in accordance with IFRIC 12 38 Expenses are presented in the statement of profit or loss and other comprehensive income by function. The income reconciliation by nature/purpose is as follows: December 31, 2022 December 31, 2021 December 31, 2020 Commodity cost (natural gas) (14,307,087 ) (7,211,545 ) (4,620,647 ) Raw materials (6,588,465 ) (4,631,436 ) (3,289,845 ) Personnel expenses (2,498,912 ) (1,997,881 ) (2,533,429 ) Depreciation and amortization (3,014,480 ) (2,504,384 ) (2,340,854 ) Railroad transportation and port elevation expenses (3,074,624 ) (2,128,043 ) (1,897,975 ) Electricity purchased for resale (260,891 ) (968,503 ) (927,913 ) Construction cost (1,217,818 ) (1,020,176 ) (885,630 ) Other transport (137,255 ) (25,143 ) — Selling expenses (23,505 ) (23,638 ) (23,387 ) Expenses with third-party services (888,195 ) (751,486 ) — Cost of properties sold (Note 10.5 (550,432 ) — — Other (1,444,083 ) (897,789 ) (731,869 ) (34,005,747 ) (22,160,024 ) (17,251,549 ) Cost of sales (30,753,137 ) (19,864,248 ) (14,999,823 ) Selling expenses (1,276,279 ) (723,419 ) (661,907 ) General and administrative expenses (1,976,331 ) (1,572,357 ) (1,589,819 ) (34,005,747 ) (22,160,024 ) (17,251,549 ) |
OTHER OPERATING INCOME, NET
OTHER OPERATING INCOME, NET | 12 Months Ended |
Dec. 31, 2022 | |
OTHER OPERATING INCOME, NET | |
OTHER OPERATING INCOME, NET | 20 OTHER OPERATING INCOME, NET December 31, 2022 December 31, 2021 December 31, 2020 Settlement of disputes in the renewal process (iii) (90,022 ) 9,242 278,496 Tax credits (ii) 114,812 287,049 132,399 Gain (loss) on disposal of non-current assets and intangibles (13,035 ) 7,295 30,610 Gain from bargain purchase (Note 8.3 99,341 416,268 — Reimbursement of natural gas loss in the process — — 26,945 Net effect of provisions for legal proceedings (370,765 ) (263,945 ) (32,704 ) Depreciation of right-of-use assets — — (100,593 ) Disposal of credit rights — — (68,311 ) Change in fair value of investment properties (note 10.5 1,311,691 17,116 — Loss on impairment — — (143,984) Income from the sale of investments (i) 988,077 — — Outcome of judicial settlement (iv) (396,818 ) — — Other 108,941 (90,425 ) 54,011 1,752,222 382,600 176,869 (i) The disposal of 80% of the subsidiary stake in EPSA (see Note 1.2 Additionally, on December 1, 2022, Cosan acquired 25% of the minority interest in Payly Soluces de Pagamentos S.A. ("Payly") for R$87,200, becoming its sole shareholder, and, on the same day, sold all of its equity interest to Raízen S.A., for a finance result of R$32,493. (ii) Extemporaneous credit from the exclusion of ICMS from the PIS and COFINS base (See Note 6 (iii) Additional grant resulting from the annual revisions to the sub-concession contracts of the subsidiary . (iv) On November 22, 2022, the subsidiary signed an agreement to close a confidential arbitration procedure through the acquisition of all the shares of the Company S.A., with whom it was engaged in litigation and which it subsequently merged. The transaction involved a net cash payment of R$51,132 and the assumption of a bank debt totaling R$396,818. |
FINANCE RESULT
FINANCE RESULT | 12 Months Ended |
Dec. 31, 2022 | |
FINANCE RESULT | |
FINANCE RESULT | 21 FINANCE RESULT Accounting policy: Financial income consists of interest income on invested funds, dividends, gains in the fair value of financial assets measured at fair value through profit or loss, gains on remeasurement of any pre-existing interest in an acquisition in a business combination, gains on hedging instruments recognized in the results, and reclassifications of net gains previously recognized in other comprehensive income. Using the effective interest rate method, interest income is recorded as it is recognized in the results. Dividend income is recognized in the results on the date that the Company's right to receive payment is established, which is typically the ex-dividend date for listed securities. Financial expenses consist of interest expenses on borrowings, settlement of discount provisions and deferrals, losses on the disposal of available-for-sale financial assets, dividends on preferred shares categorized as liabilities, losses on the fair value of financial assets at fair value through profit or loss contingent consideration and loss, impairment losses recognized in financial assets (other than accounts receivable), and losses on hedging instruments that are recognized. The effective interest rate method is used to account for borrowing costs that are not directly attributable to the acquisition, construction, or production of an eligible asset. Foreign exchange gains and losses on financial assets and liabilities are reported net as financial income or financial expense, based on whether net foreign currency fluctuations result in a gain or loss. The details of financial income and expenses are as follows: December 31, 2022 December 31, 2021 December 31, 2020 Cost of gross debt Interest on debt (4,464,754 ) (3,162,853 ) (2,148,322 ) Monetary and exchange rate variation 549,682 (1,069,157 ) (3,253,446 ) Derivatives and fair value measurement (4,203,149 ) 2,193,855 3,918,848 Amortization of borrowing costs (244,344 ) (341,034 ) (58,732 ) Guarantees and warranties (41,505 ) (52,082 ) (56,079 ) (8,404,070 ) (2,431,271 ) (1,597,731 ) Income from financial investment and exchange rate in cash and cash equivalents 1,788,477 600,894 369,690 Changes in fair value of investments in listed entities (i) 3,385,047 — — 5,173,524 600,894 369,690 Cost of debt, net (3,230,546 ) (1,830,377 ) (1,228,041 ) Other charges and monetary variations Interest on other receivables 355,634 411,394 201,060 Monetary variation of other financial assets (1,405 ) (372 ) — Interest on other payables (454,373 ) (424,946 ) (16,293 ) Interest on lease (374,177 ) (407,972 ) (595,482 ) Interest on shareholders' equity 33,134 (8,288 ) (4,959 ) Interest on contingencies and contracts (593,144 ) (315,620 ) (234,368 ) Bank charges and other (145,200 ) (96,983 ) (75,408 ) Foreign exchange, net (747,859 ) 115,607 (30,505 ) (1,927,390 ) (727,180 ) (755,955 ) Finance results, net (5,157,936 ) (2,557,557 ) (1,983,996 ) Reconciliation Finance expense (4,706,535 ) (2,527,506 ) (4,727,561 ) Finance income 5,777,521 1,258,441 407,710 Foreign exchange, net 260,746 (1,099,536 ) (3,258,656 ) Derivatives (6,489,668 ) (188,956 ) 5,594,511 Finance results, net (5,157,936 ) (2,557,557 ) (1,983,996 ) (i) Changes in fair value recognized in profit or loss based on the market value of Vale's shares, as per Note 1.3. |
POST-EMPLOYMENT BENEFIT
POST-EMPLOYMENT BENEFIT | 12 Months Ended |
Dec. 31, 2022 | |
POST-EMPLOYMENT BENEFIT | |
POST-EMPLOYMENT BENEFIT | 22 POST-EMPLOYMENT BENEFIT 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: i. higher survival to that specified in mortality tables; ii. the return on equity under the actuarial discount rate plus the accumulated IGP-DI; and iii. 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 years contribution to Social Security (Instituto Nacional do Seguro Social) 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, 2022 December 31, 2021 Defined contribution Future II 332 190 Defined benefit Future 127,351 198,761 Health insurance 448,157 470,524 575,840 669,475 a) Defined contribution During the year ended December 31, 2022, the amount of employee contributions increased to R$303 (R$217 and R$214 as of December 31, 2021 and 2020 b) Defined benefit Futura: The subsidiary CLE sponsors Futura - Entidade de Previdência Complementar ("Futura"), formerly known as Previd Exxon - Entidade de Previdência Complementar, whose primary objective is to provide supplemental benefits within certain limits established by the Retirement Plan regulations. On 5 May 2011, the competent authorities authorized a modification to this plan to exclude new participants. The contributions totaled R$60,827 for the year ending December 31, 2022 (R$5,166 and R$7,044 for the year ended on December 31, 2021 and 2020 c) Health insurance 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 mandate that final salary payments during retirement be adjusted for the consumer price index at the time of payment. The level of benefits provided is dependent on the member's length of service and final salary. During the year ended December 31, 2022, the contributions amounted to R$27,118 (R$25,169 for the year ended December 31, 2021). The weighted average duration of the obligation is 10.6 years (11.7 years in 2021 Details of the present value of the defined benefit obligation and the fair value of plan assets are as follows: December 31, 2022 December 31, 2021 December 31, 2020 Actuarial obligation at beginning of the year 1,161,693 1,249,156 1,249,630 Current service cost 219 487 540 Interest on actuarial obligation 98,343 88,299 89,253 Actuarial (gain) loss arising from financial assumptions (88,709 ) (183,159 ) (58,250 ) Actuarial loss (gain) arising from experience adjustment 14,319 77,111 30,267 Cost of past services 319 — — Early settlement in the plan (3,081 ) — — Actuarial loss arising from demographic assumptions — — 14 Benefit payments (85,121 ) (70,201 ) (62,298 ) Actuarial obligation at the end of the year 1,097,982 1,161,693 1,249,156 Fair value of plan assets at the beginning of the year (492,408 ) (520,608 ) (544,988 ) Interest income (42,224 ) (35,809 ) (38,452 ) Return on investments in the year (excluding interest income) 11,405 24,143 34,370 Early settlement in the plan 3,698 — — Employer contributions (87,945 ) (30,336 ) (33,836 ) Benefit payments 85,000 70,202 62,298 Fair value of plan assets at the end of the year (522,474 ) (492,408 ) (520,608 ) Net defined benefit liability 575,508 669,285 728,548 The total expense recognized in the finance results is as follows: December 31, 2022 December 31, 2021 December 31, 2020 Current service cost (219 ) (487 ) (540 ) Interest on actuarial obligation (56,119 ) (52,490 ) (45,567 ) (56,338 ) (52,977 ) (46,107 ) Total amount recognized as accumulated comprehensive income: December 31, 2022 December 31, 2021 December 31, 2020 Accumulated at the beginning of the year 141,803 59,904 66,305 Actuarial gain (loss) arising from financial assumptions 88,709 183,156 58,250 Actuarial (loss) gain arising from experience adjustment (14,319 ) (77,112 ) (30,267 ) Actuarial loss arising from demographic assumptions — — (14 ) Return on investments in the year (excluding interest income) (11,405 ) (24,145 ) (34,370 ) Accumulated at the end of the year 204,788 141,803 59,904 The plan’s assets consist of the following: December 31, 2022 December 31, 2021 Value % Value % Fixed income 496,950 95.28% 484,847 99.99% Others 24,618 4.72% 48 0.01% 521,568 100.00% 484,895 100.00% Plan assets consist of financial assets quoted on active markets and are therefore classified as Levels 1 2 The following are the primary assumptions used to determine the Company's and its subsidiaries' benefit obligations: Future Health insurance December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Discount rate 10.03% 8.64% 10.45% 9.09% Inflation rate 3.50% 3.25% 4.25% 3.50% Future salary increases N/A N/A N/A 6.60% Morbidity (aging factor) N/A N/A 3.00% 3.00% Future pension increases 3.50% 3.25% 3.00% 3.00% Overall mortality (segregated by sex) N/A N/A AT-2000 AT-2000 Disability mortality N/A N/A IAPB-1957 IAPB-1957 Entry into disability (modified) N/A N/A Modified UP-84 Modified UP-84 Turnover N/A N/A 0.60/(service time +1) 0.60/(service time +1) Sensitivity analysis Changes in the discount rate to the date of the statement of financial position is one Discount rate Increase Reduction 0.50% (0.50)% Futura (624,936 ) 674,988 Medical plan (21,878 ) 24,079 Regarding biometric and demographic assumptions and the methods used to prepare the sensitivity analysis, there was no change from previous years. |
SHARE-BASED PAYMENT
SHARE-BASED PAYMENT | 12 Months Ended |
Dec. 31, 2022 | |
SHARE-BASED PAYMENT | |
SHARE-BASED PAYMENT | 23 SHARE-BASED PAYMENT Accounting policy T he 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 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. Grants made in 2022 Share grant program (settled in shares) In fiscal year 2022 Program Vesting conditions Cosan - Regular 3 years of service from the grant and achievement of specific metrics that can vary between 0% and 150% (for the calculation of the fair value, the achievement of 100% was considered). Performance actions will have a specific base weight, according to the target established by the Board of Directors. Cosan - Partners 5 years of service from grant. Rumo - Invest 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 3 years of service from the grant date and achievement of specific metrics that can vary between 0% and 150% (for the calculation of the fair value, the achievement of 100% was considered). In these programs, executives are entitled to shares with compensation of R$ 0.01 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: Award Type / Award Date Company Life expectancy (years) Grants under plans Exercised / Canceled / Transferred Available Fair value as of grant date - R$ Share grant program 07/31/2018 Cosan S.A. 5 842,408 (107,576 ) 734,832 9.65 7/31/2019 Cosan S.A. 5 229,020 (20,080 ) 208,940 12.46 07/31/2020 Cosan S.A. 5 68,972 (6,704 ) 62,268 20.93 07/31/2021 - Invest I Cosan S.A. 3 424,839 — 424,839 24.38 09/10/2021 - Invest II Cosan S.A. 4 5,283,275 (1,320,820 ) 3,962,455 22.24 10/11/2021 - Invest III Cosan S.A. 5 809,944 — 809,944 23.20 07/31/2022 Cosan S.A. 3 846,506 — 846,506 18.74 11/22/2022 Cosan S.A. 5 377,173 — 377,173 17.14 8,882,137 (1,455,180 ) 7,426,957 7/31/2019 Comgás 4 83,683 (14,794 ) 68,889 79.00 83,683 (14,794 ) 68,889 09/01/2017 Rumo S.A. 5 870,900 (870,900 ) — 10.42 08/01/2018 Rumo S.A. 5 1,149,544 (455,931 ) 693,613 13.94 08/15/2019 Rumo S.A. 5 843,152 (256,757 ) 586,395 22.17 11/11/2020 Rumo S.A. 5 776,142 (208,694 ) 567,448 20.01 05/05/2021 Rumo S.A. 5 1,481,000 (421,875 ) 1,059,125 20.84 09/15/2021 Rumo S.A. 3 1,560,393 (144,611 ) 1,415,782 18.19 09/01/2022 Rumo S.A. 3 1,781,640 (6,416 ) 1,775,224 20.36 09/01/2022 Rumo S.A. - 146,909 — 146,909 20.36 8,609,680 (2,365,184 ) 6,244,496 Share-based compensation plan (settled in cash) 07/31/2019 - Invest Moove 5 132,670 — 132,670 50.79 07/31/2020 - Invest Moove 5 106,952 — 106,952 61.89 07/31/2021 - Invest Moove 3 80,729 — 80,729 102.73 07/31/2022 - Invest Moove 3 77,967 — 77,967 135.05 07/31/2022 - Special Program Moove 4 615,362 — 615,362 50.05 08/01/2021 TRSP 3 38,158 — 38,158 25.46 08/01/2021 Compass Comercialização 3 35,777 — 35,777 25.46 08/01/2021 Compass Gás e Energia 2 173,316 — 173,316 25.46 08/01/2021 Compass Gás e Energia 3 30,205 — 30,205 25.46 11/01/2021 Compass Gás e Energia 3 1,672,626 — 1,672,626 25.46 11/01/2021 Comgás 3 195,414 — 195,414 25.46 02/01/2022 Compass Gás e Energia 3 88,899 — 88,899 25.59 08/01/2022 Compass Gás e Energia 3 826,392 — 826,392 25.59 08/01/2022 Compass Comercialização 3 30,441 — 30,441 25.59 08/01/2022 TRSP 3 31,258 — 31,258 25.59 4,136,166 — 4,136,166 Total 21,711,666 (3,835,158 ) 17,876,508 a) Reconciliation of outstanding share grants The change in outstanding share grants are as follows: Outstanding shares Balance as of January 1, 2021 10,536,790 Granted 11,531,359 Exercised (6,200,231 ) Canceled (275,407 ) Balance as of December 31, 2021 15,592,511 Granted 5,156,829 Exercised / Canceled (2,872,832 ) Balance as of December 31, 2022 17,876,508 b) Fair value m easurement The weighted average fair value of the shares granted between December 31, 2022 and December 31, 2021, as well as the key assumptions used to apply the Black & Scholes model, were calculated as follows: Share grant program Cosan S.A. Compass Comgás TRSP Rumo December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Key premises: Market price on the grant date 17.14 23.20 29.20 27.27 29.20 78.58 29.20 27.27 20.56 18.20 Interest rate 6.82% 6.82% N/A N/A N/A 6.82% N/A N/A 11.53% 6.94% Volatility 36.50% 36.50% N/A N/A N/A 32.81% N/A N/A 27.70% 26.51% Expense recognized in profit or loss The share-based compensation expenses included in profit or loss for the years ended December 31, 2022, 2021 2020 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2022 | |
SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS | 24 . SUBSEQUENT EVENTS Subsequent material events that began before the end of the year ended December 31, 2022 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. Sale of shares em S.A. On March 10, 2023, the Company entered into a share purchase and sale agreement, providing for the sale of all its equity interest in em S.A. The completion of the transaction is subject to conditions precedent that have not yet been met as of the date of these consolidated financial statements. Potencial offering of simple unsecured debentures On April 18, 2023, Cosan S.A. announced a potential offering of simple, nonconvertible, unsecured debentures in a single series (as part of its 5th issuance of debentures), in an aggregate principal amount of R$1,000.0 million. This potential offering is expected to launch on April 27, 2023. |
RECENT ACCOUNTING STANDARDS ADO
RECENT ACCOUNTING STANDARDS ADOPTED BY THE COMPANY | 12 Months Ended |
Dec. 31, 2022 | |
RECENT ACCOUNTING STANDARDS ADOPTED BY THE COMPANY | |
RECENT ACCOUNTING STANDARDS ADOPTED BY THE COMPANY | 25 RECENT ACCOUNTING STANDARDS ADOPTED BY TH E COMPANY Applicable standard Key requirements Impact Amendments to IFRS 01 Effective January 1, 2022. The amendment allows a subsidiary that elects to apply paragraph D 16 1 1 16 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. Amendments to IFRS 09 Effective January 1, 2022. The amendment clarifies the fees that an entity must consider when determining whether the terms of a new or modified financial liability differ materially from those of the original financial liability. These fees only include fees paid or received between the borrower and lender, including fees paid or received by either party on behalf of the other. These changes had no impact on the individual and consolidated financial statements of the Cosan Group. Amendments to IAS 41 Effective January 1, 2022. The amendment clarifies the fees that an entity must consider when determining whether the terms of a new or modified financial liability differ materially from those of the original financial liability. These fees only include fees paid or received between the borrower and lender, including fees paid or received by either party on behalf of the other. These changes had no impact on the individual and consolidated financial statements of the Cosan Group. Amendments to IAS 41 Effective January 1, 2022. The amendment removes the requirement in paragraph 22 41 41 These changes had no impact on the individual and consolidated financial statements of the Cosan Group. Amendments to IAS 37 Effective January 1, 2022. The Group adopted the IAS 37 These changes had no impact on the individual and consolidated financial statements of the Cosan Group. Amendments to IAS 16 Effective January 1, 2022. The amendment prohibits entities from deducting from the cost of a fixed asset any sales proceeds of produced items used to bring the asset to the location and to achieve the condition required for it to operate as intended by management. Instead, an entity recognizes the sales proceeds and production costs in the statement of profit or loss. These changes had no impact on the individual and consolidated financial statements of the Cosan Group. |
NEW STANDARDS AND INTERPRETATIO
NEW STANDARDS AND INTERPRETATIONS NOT YET IN FORCE | 12 Months Ended |
Dec. 31, 2022 | |
NEW STANDARDS AND INTERPRETATIONS NOT YET IN FORCE | |
NEW STANDARDS AND INTERPRETATIONS NOT YET IN FORCE | 26 The IASB issued the following new standards, interpretations, and amendments, but they are not applicable for annual periods beginning after January 1, 2022. Premature adoption is prohibited. In addition, the Company believes, based on an initial review, that the adoption of the following standards/amendments will not have a material impact on its consolidated results or financial position. Applicable standard Major requirements or changes to accounting policy Interest Rate Benchmark Reform (Phase 2 Amendments to IFRS 9 39 7 4 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 Effective January 1, 2023. The purpose of IFRS 17 17 9 15 17 Amendments to IAS 8 Effective January 1, 2023. The IASB issued amendments to IAS 8 Amendments to IAS 12 Effective January 1, 2023. In May 2021, the Board issued amendments to IAS 12 Amendments to IFRS 16 Effective January 1, 2024. The Board issued amendments to IFRS 16 16 All other standards or amendments to standards issued by the IASB and which are effective as of January 1, 2022 are not applicable or relevant to the Company and its subsidiaries. |
ACCOUNTING POLICIES (Policies)
ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
ACCOUNTING POLICIES | |
FUNCTIONAL AND PRESENTATION CURRENCY | 3.1. FUNCTIONAL AND PRESENTATION CURRENCY The consolidated financial statements are presented in Brazilian reais reais , Monetary assets and liabilities denominated and calculated in foreign currencies at the reporting date are converted into the functional currency using the current foreign exchange rate. Non-monetary assets and liabilities measured at fair value in a foreign currency are converted into the functional currency using the foreign exchange rate in effect on the date the fair value was determined. Non-monetary items measured in a foreign currency based on historical cost are converted at the foreign exchange rate on the transaction date. Foreign currency differences resulting from conversions are generally accounted for in profit or loss. Assets and liabilities arising from international operations, including goodwill and fair value adjustments resulting from the acquisition of a business, are converted into Reais at the reporting date using the foreign exchange rates in effect at the time. Income and expenses from international operations are converted into Reais using the foreign exchange rates in effect on the dates of the transactions. Foreign currency differences are recognized and presented in other comprehensive income in equity. However, if the foreign operation is a non-wholly owned subsidiary, then the relevant proportion of the translation difference is allocated to non-controlling interests. When a foreign operation is disposed of, or significant influence is lost, the amount accumulated in the translation reserve related to that foreign operation is reclassified to finance results as part of the gain or loss on disposal. The following table presents the foreign exchange rate, expressed in Reais for the years indicated , as inform Currency December 31, 2022 December 31, 2021 December 31, 2020 Dollar (U.S.$) BRL 5.22 BRL 5.58 BRL 5.20 Pound Sterling (£) BRL 6.28 BRL 7.52 BRL 7.10 Euro (€) BRL 5.57 BRL 6.32 BRL 6.38 Yen (¥) BRL 0.04 BRL 0.05 BRL 0.05 |
USE OF JUDGMENTS AND ESTIMATES | 3.2. USE OF JUDGMENTS AND ESTIMATES In preparing these financial statements, Management used judgments and estimates that affect the application of the Cosan Group's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Underlying estimates and assumptions are continually reviewed and recognized prospectively, when applicable. Information on critical judgments, assumptions and estimates of uncertainties in the application of accounting policies that have a more significant effect on the amounts recognized in the financial statements are included in the following notes: Note 5.5 Note 5.7 Note 5.10 – Sectorial financial assets and liabilities: Regulatory deferral accounts at the end of the concession will be indemnified to distributors or returned to users within a period of 12 months before the end of the concession period. The balance comprises: (i) the previous cycle (under amortization), which represents the balance ratified by ARSESP already included in the tariff, and (ii) the cycle being constituted, which are the differences that will be ratified by regulatory agency in the next tariff adjustment. Note 5.11 Note 8.3 Note 9 – Investment in joint venture: The joint venture agreement require unanimous consent from all parties for all relevant activities. The two partners have direct rights to the assets of the partnership and are jointly and severally liable for the liabilities incurred by the partnership. This entity is therefore classified as a joint venture and the Company recognizes its interest in the joint venture using the equity method. Notes 10.1 and 10.2 – Property, plant and equipment, and intangible assets and goodwill: The calculation of depreciation and amortization of intangible assets and property, plant and equipment are based on estimated useful lives. In addition, the determination of the fair value of intangible assets and property, plant and equipment acquired in a business combination or arising from the formation of a Joint Venture is a significant estimate. Notes 10.5 – Investment properties: Investment properties are initially measured at cost, including transaction costs. After initial recognition, investment properties are measured at fair value, which reflects market conditions at the statement of financial position date, with changes recognized in profit or loss. The portfolio is assessed annually by external experts, and is periodically reviewed by internal professionals technically qualified to carry out this type of assessment. Note 11 – Commitments: We have entered into commercial property leases in relation to our investment property portfolio. We have determined, based on an evaluation of the terms and conditions of the arrangements, such as the lease term not constituting a substantial portion of the economic life of the commercial property and the present value of the minimum lease payments not amounting to substantially all of the fair value of the commercial property, that we retain all the significant risks and rewards of ownership of these properties and account for the contracts as operating leases. Note 14 Note 15 Note 22 Note 23 |
OPERATIONS AND CORPORATE REOR_2
OPERATIONS AND CORPORATE REORGANIZATION (Table) | 12 Months Ended |
Dec. 31, 2022 | |
OPERATIONS AND CORPORATE REORGANIZATION | |
Schedule of sale of available for sale assets | The distributors that were classified as available-for-sale assets on the Commit acquisition date were sold to the shareholders who held the preemptive right, as presented below: Date of sale Acquirer Acquiree Participation Value 07/21/2022 State of Paraíba PBGas 41.50% 47,251 07/21/2022 Termogás S.A. Cebgás 24.00% 561 07/22/2022 State of Alagoas Algás (i) 12.06% 27,067 07/25/2022 State of Bahia BahiaGas 41.50% 574,778 07/26/2022 State of Ceara Cegás (ii) 12.06% 76,399 07/29/2022 Brasilia Energy Company Cebgás 8.00% 187 11/08/2022 Termogás S.A. Gasap 37.25% 297 11/08/2022 Termogás S.A. Gaspisa 22.11% 398 11/08/2022 Termogás S.A. Rongás 41.50% 504 11/08/2022 Termogás S.A. GoiásGas 30.46% 663 12/21/2022 State of Piauí Gaspisa 15.14% 437 728,542 (i) After the State of Alagoas exercised its right of preference, Commit retained a 29.44 (ii) After the State of exercised its right of preference, Commit retained a 29.44 . |
Schedule of Loans contracted for acquisition of assets | The following loans were contracted for the acquisition of interest: Creditor Value Maturities Charges (p.a.) JP Morgan S.A. (i) 5,141,775 10/01/2027 EUR+3.28% Citibank S.A. (i) 3,427,885 10/01/2027 JP¥+ 0.25% Banco Bradesco BBI S.A. 4,000,000 09/27/2023 CDI+1.35% Banco Itaú BBA S.A. 4,000,000 09/16/2023 CDI+1.35% Total 16,569,660 (i) The charges for these operations bear pre-fixed interest, raised in foreign currency for € 1,009,650 95,298,449 |
BASIS OF PREPARATION (Tables)
BASIS OF PREPARATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Basis of Presentation | |
Disclosure of reconciliation of changes in equity before and after corporate reorganization | Below we present the reconciliation of the Company’s equity as of December 31, 2021 considering the predecessor method: Cosan Limited Balance as of February 28, 2021 Predecessor Adjustments (i) Cosan S.A. Balance Subsequent to the Corporate Reorganization Share capital 5,328 6,360,525 6,365,853 Treasury shares — (583,941 ) (583,941 ) Additional paid-in capital 2,006,653 (4,984,931 ) (2,978,278 ) Accumulated other comprehensive loss (1,978,092 ) 1,381,798 (596,294 ) Retained earnings 5,139,685 1,935,735 7,075,420 Equity attributable to owners of the Company 5,173,574 4,109,186 9,282,760 Equity attributable to non-controlling interest 15,638,932 (4,109,186 ) 11,529,746 Total shareholders’ equity 20,812,506 — 20,812,506 (i) The predecessor adjustments Limited balance as of February 28, 2021 and the S.A. balance subsequent to the Corporate Reorganization. |
ACCOUNTING POLICIES (Tables)
ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
ACCOUNTING POLICIES | |
Schedule of Exchange Rates of Real for Functional Currencies of Subsidiaries | The following table presents the foreign exchange rate, expressed in Reais for the years indicated , as inform Currency December 31, 2022 December 31, 2021 December 31, 2020 Dollar (U.S.$) BRL 5.22 BRL 5.58 BRL 5.20 Pound Sterling (£) BRL 6.28 BRL 7.52 BRL 7.10 Euro (€) BRL 5.57 BRL 6.32 BRL 6.38 Yen (¥) BRL 0.04 BRL 0.05 BRL 0.05 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
SEGMENT INFORMATION | |
Selected information by segment | December 31, 2022 Reported Segments Reconciliation Cosan Investiments Cosan Corporate Deconsolidation of Joint Venture Elimination Between Segments Raízen Gas and Power Moove Logistics Land Other Investments Consolidated Statement of profit or loss Gross sales 259,262,308 25,361,549 10,984,268 10,449,453 865,700 11,873 — (259,262,308 ) (63,036 ) 47,609,807 Domestic market (i) 197,402,638 25,361,549 10,327,853 10,174,985 865,700 11,873 — (197,402,638 ) (63,036 ) 46,678,924 External market (i) 61,859,670 — 656,415 274,468 — — — (61,859,670 ) — 930,883 Net sales 244,293,722 20,133,787 8,980,077 9,841,508 834,616 10,416 — (244,293,722 ) (63,036 ) 39,737,368 Cost of sales (233,658,136 ) (16,561,153 ) (6,990,171 ) (6,695,147 ) (560,274 ) (9,428 ) — 233,658,136 63,036 (30,753,137 ) Gross profit 10,635,586 3,572,634 1,989,906 3,146,361 274,342 988 — (10,635,586 ) — 8,984,231 Selling expenses (5,148,014 ) (163,256 ) (1,072,488 ) (30,619 ) — (9,916 ) — 5,148,014 — (1,276,279 ) General and administrative expenses (2,425,318 ) (781,730 ) (347,591 ) (468,574 ) (45,535 ) (68,404 ) (264,497 ) 2,425,318 — (1,976,331 ) Other income (expenses), net 283,606 (91,905 ) 29,002 348,543 1,302,442 (3 ) 164,143 (283,606 ) — 1,752,222 Interest in earnings of associates (119,338 ) 147,878 — 40,462 20,799 (57 ) 3,051,158 119,338 (2,791,497 ) 468,743 Interest in earnings of joint venture — — — — — — (92,179 ) — — (92,179 ) Finance result, net (4,105,064 ) (416,397 ) (101,872 ) (2,329,035 ) 4,106 3,851 (2,318,589 ) 4,105,064 — (5,157,936 ) Financial expenses (3,010,398 ) (1,331,114 ) (114,249 ) (1,521,478 ) (3,550 ) 7,698 (1,743,842 ) 3,010,398 — (4,706,535 ) Financial revenue 811,948 898,103 75,817 1,108,620 7,656 5,101 3,682,224 (811,948 ) — 5,777,521 Foreign exchange variation, net 963,060 102,655 (15,394 ) 374,859 — (8,948 ) (192,426 ) (963,060 ) — 260,746 Derivatives (2,869,674 ) (86,041 ) (48,046 ) (2,291,036 ) — — (4,064,545 ) 2,869,674 — (6,489,668 ) Income tax 864,710 (329,185 ) (10,062 ) (193,116 ) (74,915 ) (68 ) 725,750 (864,710 ) — 118,404 Profit for the year (13,832 ) 1,938,039 486,895 514,022 1,481,239 (73,609 ) 1,265,786 13,832 (2,791,497 ) 2,820,875 Profit (loss) attributed to: Owners of the Company (66,054 ) 1,572,263 340,914 156,380 749,840 (64,306 ) 1,212,438 66,054 (2,791,497 ) 1,176,032 Non-controlling interests 52,222 365,776 145,981 357,642 731,399 (9,303 ) 53,348 (52,222 ) — 1,644,843 (13,832 ) 1,938,039 486,895 514,022 1,481,239 (73,609 ) 1,265,786 13,832 (2,791,497 ) 2,820,875 Other selected data Depreciation and amortization 9,297,498 776,248 251,886 1,966,945 238 5,159 14,004 (9,297,498 ) — 3,014,480 EBITDA 12,524,020 3,459,869 850,715 5,003,118 1,552,286 (72,233 ) 2,872,629 (12,524,020 ) (2,791,497 ) 10,874,887 Additions to PP&E, intangible assets and contract assets 9,339,898 1,659,202 109,263 2,717,745 19,212 23,481 2,471 (9,339,898) — 4,531,374 EBITDA reconciliation Profit for the year (13,832 ) 1,938,039 486,895 514,022 1,481,239 (73,609 ) 1,265,786 13,832 (2,791,497 ) 2,820,875 Income taxes (864,710 ) 329,185 10,062 193,116 74,915 68 (725,750 ) 864,710 — (118,404 ) Finance result, net 4,105,064 416,397 101,872 2,329,035 (4,106 ) (3,851 ) 2,318,589 (4,105,064 ) — 5,157,936 Depreciation and amortization 9,297,498 776,248 251,886 1,966,945 238 5,159 14,004 (9,297,498 ) — 3,014,480 EBITDA 12,524,020 3,459,869 850,715 5,003,118 1,552,286 (72,233 ) 2,872,629 (12,524,020 ) (2,791,497 ) 10,874,887 (i) Domestic market: sales within each entity's country of residence; Foreign market: export sales. December 31, 2021 Reported Segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Investments Cosan Corporate Deconsolidation of joint venture 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 venture — — — — — 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) Domestic markets: sales within the country where each entity is located; external markets: sales export. December 31, 2020 Reported Segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Corporate Deconsolidation of joint venture 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 venture (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) Domestic markets: sales within the country where each entity is located; external markets: sales export. December 31, 2022 Reported Segments Reconciliation Cosan Investments Cosan Corporate Deconsolidation of Joint Venture Elimination Between Segments Raízen Gas and Power Moove Logistics Lands Other Investments Consolidated Statement of financial position items: Assets 109,894,718 25,124,200 8,081,113 45,951,748 14,830,918 1,154,100 56,596,092 ( 109,894,718 ) ( 17,253,179 ) 134,484,992 Cash and cash equivalents 4,902,800 3,405,648 865,370 7,385,421 25,582 110,228 1,509,467 (4,902,800 ) — 13,301,716 Marketable securities 126,206 578,358 62,919 840,061 217,061 91,103 20,310,264 (126,206 ) — 22,099,766 Trade receivables 10,316,720 1,931,205 1,101,336 578,324 314,834 1843 — (10,316,720 ) — 3,927,542 Derivative financial instruments 7,023,284 391,863 — 874,843 — — 2,885,046 (7,023,284 ) — 4,151,752 Inventories 16,043,114 133,881 1,509,357 225,813 — 8 — (16,043,114 ) — 1,869,059 Sectorial financial assets — 342,333 — — — — — — — 342,333 Other financial assets 230,780 277 450 — — — 88,511 (230,780 ) — 89,238 Other current assets 10,285,568 1,037,587 405,314 724,415 74,623 110,517 1,705,199 (10,285,568 ) (1,167,488 ) 2,890,167 Other non-current assets 8,938,318 897,654 297,616 3,385,624 7,643 900 3,040,182 (8,938,318 ) (266,513 ) 7,363,106 Investments in associates — 2,525,292 — 381,469 74,505 — 15,751,855 — (15,819,178 ) 2,913,943 Investment in joint venture 1,371,430 — — — — — 11,221,356 (1,371,430 ) — 11,221,356 Biological assets 3,254,850 — — — 9,992 — — (3,254,850 ) — 9,992 Property, plant and equipment 25,210,448 671,573 805,377 17,049,188 34 363,374 58,890 ( 25,210,448 ) — 18,948,436 Intangible assets 9,337,192 12,015,135 2,854,874 6,774,306 — 475,337 2,290 (9,337,192 ) — 22,121,942 Contract assets 3,297,856 1,110,335 8,380 — — — — (3,297,856 ) — 1,118,715 Right-of-use assets 9,556,152 83,059 170,120 7,732,284 3,584 790 23,032 (9,556,152 ) — 8,012,869 Investment property — — — — 14,103,060 — — — — 14,103,060 Liabilities (83,814,462 ) (16,642,318 ) (5,731,853 ) (30,541,294 ) (1,446,694 ) ( 78,828 ) (33,308,605 ) 83,814,462 1,433,999 (86,315,593 ) Loans, borrowing and debentures (33,551,302 ) (8,278,839 ) (2,862,154 ) (16,758,088 ) — — (25,088,135 ) 33,551,302 — (52,987,216 ) Leases (10,568,042 ) (76,606 ) (166,651 ) (3,254,011 ) (3,708 ) (818 ) (30,364 ) 10,568,042 — (3,532,158 ) Derivative financial instruments (4,909,074 ) (400,351 ) (18,146 ) (1,412,945 ) — — (3,459,490 ) 4,909,074 — (5,290,932 ) Trade payables (18,789,160 ) (1,842,810 ) (1,602,936 ) (746,433 ) (71,684 ) (790 ) (115,198 ) 18,789,160 — (4,379,851 ) Employee benefits payables (837,208 ) (193,585 ) (112,590 ) (296,833 ) — (7,232 ) (49,281 ) 837,208 — (659,521 ) Sectorial financial liabilities — (1,616,616 ) — — — — — — — (1,616,616 ) Other current liabilities (7,176,122 ) (906,844 ) (397,704 ) (1,786,009 ) (905,816 ) (3,105 ) (1,230,804 ) 7,176,122 609,462 (4,620,820 ) Other non-current liabilities (7,983,554 ) (3,326,667 ) (571,672 ) (6,286,975 ) (465,486 ) (66,883 ) (3,335,333 ) 7,983,554 824,537 (13,228,479 ) Total assets (net of liabilities) Total assets (net of liabilities) allocated by segment 26,080,256 8,481,882 2,349,260 15,410,454 13,384,224 1,075,272 23,287,487 (26,080,256 ) (15,819,180 ) 48,169,399 Equity attributable to: Controlling shareholders 22,507,108 4,310,836 1,647,259 4,613,308 4,187,415 1,060,360 20,653,169 (22,507,108 ) (15,819,180 ) 20,653,167 Non-controlling shareholders 3,573,148 4,171,046 702,001 10,797,146 9,196,809 14,912 2,634,318 (3,573,148 ) — 27,516,232 Total shareholders’ equity 26,080,256 8,481,882 2,349,260 15,410,454 13,384,224 1,075,272 23,287,487 (26,080,256 ) (15,819,180 ) 48,169,399 December 31, 2021 Reported segments Reconciliation Raízen Gas and Power Moove Logistics Cosan Investments Cosan Corporate Deconsolidation of joint venture Segment elimination Consolidated Statement of financial position items: Assets 110,136,182 19,982,611 4,850,344 48,174,556 4,484,805 35,054,650 (110,136,182 ) (14,704,943 ) 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 ) (668,153 ) 2,331,331 Other non-current assets 8,562,180 1,370,964 246,934 3,197,105 354 2,180,559 (8,562,180 ) (240,673 ) 6,755,243 Investments in associates — — — 57,844 — 14,518,340 — (13,796,117 ) 780,067 Investment in joint venture 1,317,720 — — — — 10,936,663 (1,317,720 ) — 10,936,663 Biological assets 3,106,744 — — — — — (3,106,744 ) — — Investment property — — — — 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 |
Summary of net sales to external customers by by segment | 4.1 NET SALES TO EXTERNAL CUSTOMERS BY PRODUCTS/CUSTOMER TYPE December 31, 2022 December 31, 2021 December 31, 2020 Reported segment Raízen Ethanol 29,652,112 27,464,271 19,625,060 Sugar 23,695,768 13,946,480 10,241,141 Gasoline 66,586,914 55,158,035 36,127,017 Diesel 106,684,577 71,828,092 46,967,219 Cogeneration 3,688,108 3,968,947 2,282,158 Other 13,986,243 7,288,547 2,807,127 Intercompany elimination (i) — (4,607,102 ) — 244,293,722 175,047,270 118,049,722 Gas and Power Natural gas distribution Industrial 13,460,397 7,386,258 5,030,738 Residential 2,103,984 1,610,286 1,381,597 Cogeneration 970,208 637,489 389,732 Automotive 958,363 364,664 220,130 Commercial 776,042 448,615 350,760 Construction revenue 1,217,818 1,020,176 885,630 Other 408,431 242,226 59,104 19,895,243 11,709,714 8,317,691 Electricity trading 238,544 620,495 775,479 20,133,787 12,330,209 9,093,170 Moove Finished product 8,094,216 5,088,102 3,891,551 Base oil 596,443 457,991 392,153 Services 289,418 566,364 131,871 8,980,077 6,112,457 4,415,575 Logistics North operations 7,635,243 5,479,583 5,270,436 South operations 1,739,391 1,624,084 1,409,872 Container operations 466,874 335,965 285,851 9,841,508 7,439,632 6,966,159 Cosan Investments Lease and sale of lands 834,616 31,502 — 834,616 31,502 — Other Investments Digital platforms 2,804 — — Logistic services 7,612 — — 10,416 — — Reconciliation Cosan Corporate — 8,292 818 Deconsolidation of joint venture and eliminations (244,356,758 ) (175,104,361 ) (118,087,609 ) Total 39,737,368 25,865,001 20,437,835 (i) On June 1, 2021, Raízen S.A. started to consolidate Raízen Energia and, with that, the balances between the entities started to be presented net. |
Summary of information on geographical area | 4.2 INFORMATION ON GEOGRAPHICAL AREA Net sales Non-current assets December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 Brazil 34,128,831 22,529,634 18,100,012 11,957,039 12,551,261 Europe (i) 3,080,840 2,551,739 1,867,284 7,762 10,515 Latin America (ii) 697,117 632,235 360,798 7,294 6,320 North America (ii) 1,770,487 81,384 62,760 17,173 — Asia and others 60,093 70,009 46,981 — — Total 39,737,368 25,865,001 20,437,835 11,989,268 12,568,096 Main countries: (i) England, France, Spain and Portugal; and (ii) Argentina, Bolívia, Uruguay and Paraguay and. (iii) United States of America. |
FINANCIAL ASSETS AND LIABILIT_2
FINANCIAL ASSETS AND LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
FINANCIAL ASSETS AND LIABILITIES | |
Summary of Financial Assets and Liabilities | The Company's financial assets and liabilities are as follows: Note December 31, 2022 December 31, 2021 Assets Fair value through profit or loss Cash and cash equivalents 5.2 1,134,030 8,103,713 Marketable securities 5.3 22,099,766 4,388,007 Derivative financial instruments 5.6 4,151,752 4,732,926 Other financial assets 89,238 320,193 27,474,786 17,544,839 Amortized cost Cash and cash equivalents 5.2 12,167,686 8,070,417 Trade receivables 5.7 3,927,542 2,745,853 Restricted cash 5.3 139,933 58,990 Receivables from related parties 5.8 476,542 416,491 Sectorial financial assets 5.10 342,333 558,310 Dividends and interest on equity receivable 16 161,147 519,965 17,215,183 12,370,026 Total 44,689,969 29,914,865 Liabilities Amortized cost Loans, borrowings and debentures 5.4 (21,620,197 ) (25,444,437 ) Trade payables 5.9 (4,379,851 ) (3,253,504 ) Consideration payable (223,960 ) (234,960 ) Other financial liabilities (i) (954,547 ) (726,423 ) Leases 5.5 (3,532,158 ) (3,267,678 ) Railroad concession payable 12 (3,351,410 ) (3,054,248 ) Related parties payable 5.8 (387,736 ) (287,609 ) Dividends payable 16 (892,006 ) (799,634 ) Sectorial financial liabilities 5.10 (1,616,616 ) (1,372,283 ) Installment of tax debts 13 (208,760 ) (200,664 ) (37,167,241 ) (38,641,440 ) Fair value through profit or loss Loans, borrowings and debentures 5.4 (31,367,019 ) (20,214,600 ) Derivative financial instruments 5.6 (5,290,932 ) (1,076,161 ) (36,657,951 ) (21,290,761 ) Total (73,825,192 ) (59,932,201 ) (i) The Company’s subsidiaries seek to improve their working capital efficiency by negotiating longer payment terms with their suppliers and entering into structured payment agreements (also known as reverse factoring) with third-party intermediaries, such as financial institutions . On December 31, 2022,Rumo and Moove had advanced R$ 710,736 64,099 519,082 57,704 14.53 10.60 CDI + 2.5% p.a. CDI + 2.5% p.a. 109 102 90 107 96,752 27,155 25,264 2020 . We also have a voluntary supply chain finance ("SCF") program that allows suppliers, at their sole discretion, to take advantage of our credit rating. Subsidiaries and their suppliers agree to commercial terms for the goods and services we purchase, including prices, quantities and payment terms, regardless of whether the supplier chooses to participate in the SCF program. The subsidiaries and their suppliers agree to the commercial terms for the goods and services we purchase, including prices, quantities, and payment terms. There are no modifications to any of our payment obligations to our suppliers. Under the SCF program, neither the Company nor any of its subsidiaries provide any guarantees. When contracted, the Company and its subsidiaries pay the financial institution the full nominal value of the originating obligation on the original payment date . For the SCF program, the subsidiaries Rumo and Compass have supplier advances with financial institutions totaling R$ 107,133 72,579 62,070 91,933 . The settlement flow of the balance of credits assigned by suppliers to financial agents is classified in the statement of cash flows as operating activities as this more accurately reflects the cash expenditure from the perspective of the Company's operations. |
Schedule of net debt | Note December 31, 2022 December 31, 2021 Loans and financing 5.4 52,987,216 45,659,037 Financial instruments and derivatives on debt 5.6 1,228,928 (3,633,381 ) 54,216,144 42,025,656 (-) Cash and cash equivalents 5.2 (13,301,716 ) (16,174,130 ) (-) Marketable securities 5.3 (22,099,766 ) (4,388,007 ) (35,401,482 ) (20,562,137 ) Net debt 18,814,662 21,463,519 |
Schedule Of Financial Clauses | The Company and its subsidiaries are required to comply with the following financial clauses per the terms of the main loan lines: Debt Goal Index 4 Comgás Short-term debt / total debt (iii) 0.6 0.17 Debentures 4 9 Net debt (i) (ii) 4.0 1.64 BNDES Resolution 4,131 Debenture 1 Cosan 1.72 Senior Notes 2027 Cosan Luxembourg S.A. Proforma (iv) pro forma EBITDA (ii)|(iv) 3.5 2.19 Senior Notes 2029 Debenture ( 11 12 13 14 Rumo ICJ (viii) (v) 2.0 2.87 ECA Senior Notes 2028 (vi) Rumo Luxembourg S.à r.l. Net debt (i) (ii) 3.5 2.25 Senior Notes 2032 (vi) NC Rumo ECA Debentures (vii) BNDES Sulgás 0.35 Short-term debt / Total debt (iii) 0.8 0.64 Brado ICSD (ix) 2.0 2.84 Brado Net debt (i) (ii) 3.0 1.72 NCE Brado Net debt (i) (ii) 3.3 Syndicated Loan CLI Net debt (i) (ii) 3.5 1.98 ICSD (ix) 2.5 4.42 (i) Net debt is composed of current and non-current debt, net cash and cash equivalents, derivative financial instruments on debt and marketable securities. (ii) Corresponds to the EBITDA accumulated over the previous twelve (iii) Total debt is the sum of current and non-current loans, borrowings and debentures, leasing, as well as current and non-current derivative financial instruments. (iv) Net debt and proforma EBITDA, including joint venture financial information. Net Debt and proforma EBITDA are non-GAAP measures. (v) The finance result of net debt is represented by the cost of net debt. (vi) Senior Notes due 2028 is committed to using the resources to fully or partially finance ongoing and future projects that contribute to the promotion of a resource-efficient, low-carbon transport sector in Brazil. Eligible projects include "acquisition, replacement, and modernization of rolling stock," "Infrastructure for duplication of railway sections, new yards, and yard extensions," and "railway modernization." The subsidiary publishes an annual report detailing the progress of projects, which is available on the investor relations page. Senior Notes due 2032 17.6 2026 21.6 2030 25 4.45 (vii) The 11 12 13 3.0 3.5 (viii) Interest Coverage Ratio ( de de ) (“ICJ”). (ix) Debt Service Coverage Ratio ( de do da ) (“ICSD”). |
Summary of Cash and Cash Equivalents | December 31, 2022 December 31, 2021 Cash and bank accounts 307,819 98,116 Savings account 974,198 2,594,723 Financial investments 12,019,699 13,481,291 13,301,716 16,174,130 |
Summary of Financial Investments | Financial investments include the following: December 31, 2022 December 31, 2021 Applications in investment funds Repurchase agreements 1,181,280 1,680,328 Certificate of bank deposits - CDB — 6,423,385 Others 123,052 — 1,304,332 8,103,713 Applications in banks Certificate of bank deposits – CDB (i) 10,396,376 2,321,614 Repurchase agreements (ii) 96,841 974,494 Others (iii) 222,150 2,081,470 10,715,367 5,377,578 12,019,699 13,481,291 (i) Bank deposit certificates ( Certificado de Depósito Bancário ), or “CDB,” are securities issued by Brazilian financial institutions, with original maturities of up to 90 days, without penalties or other restrictions for their early redemption. (ii) Repurchase agreements refer to the purchase of securities, with a commitment to repurchase them at a rate previously established by the parties, usually with a fixed term of up to 90 days, for which there are no penalties or other restrictions for their early redemption. (iii) The balance was primarily comprised of investments in time deposits in relation to Luxembourg’s amounts, via the raised Senior Notes (Bond) that matures in 2032 |
Summary of marketable securities and restricted cash | December 31, 2022 December 31, 2021 Marketable securities Financial investment in listed entities (i) 19,586,193 — Government security (ii) 2,421,297 4,371,645 ESG funds (iii) 91,103 15,311 Certificate of bank deposits - CDB 1,173 1,051 22,099,766 4,388,007 Current 2,422,470 4,372,696 Non-current 19,677,296 15,311 Total 22,099,766 4,388,007 Restricted cash Securities pledged as collateral 139,933 58,990 139,933 58,990 Current 8,024 — Non-current 131,909 58,990 Total 139,933 58,990 (i) According to Note 1.3 fair value through profit or loss (ii) The sovereign debt securities accrue interest linked to the Special System of Liquidation and Custody ( Especial de e ), or “SELIC” rate, with a yield of approximately 100% of the CDI. (iii) 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 Carrying Amounts of Loans, Borrowings and Debentures | The terms and conditions of outstanding loans are as follows: Financial Charges Description Indexer Interest Rate December 31, 2022 December 31,2021 Maturity Goal Secured Resolution 4,131 Prefixed — — 148,932 11/01/2022 Working capital Prefixed 2.95% 868,367 — 10/01/2024 Investments Prefixed 0.25% 578,708 — 10/01/2024 Investments Prefixed 3.20% 2,009,452 — 10/01/2025 Investments Prefixed 0.25% 1,338,697 — 10/01/2025 Investments Prefixed 3.40% 1,966,061 — 10/01/2026 Investments Prefixed 0.25% 1,309,330 — 10/01/2026 Investments Prefixed 3.56% 816,172 — 10/01/2027 Investments Prefixed 0.25% 543,160 — 10/01/2027 Investments BNDES Prefixed 3.50% 378 727 01/01/2024 Investments Prefixed 5.86% 280,919 461,756 01/01/2025 Investments IPCA + 3.25% 9.50% 1,653,501 945,663 01/04/2029 Investments IPCA + 4.10% 10.40% 131,885 154,843 01/04/2029 Investments URTJLP 9.29% 2,221,900 2,598,623 07/01/2031 Investments IPCA + 5.74% 12.14% 544,925 — 04/01/2036 Investments Debentures CDI + 1.79% 15.68% 754,785 753,770 06/01/2027 Investments CDI + 1.30% 15.13% 759,175 746,725 10/01/2027 Investments IPCA + 4.77% 10.63% 632,440 694,898 06/01/2031 Investments Bank credit note IPCA 6.59% 806,028 646,624 01/01/2048 Investments Export credit note CDI + 1.03% 14.84% 98,003 86,707 02/01/2023 Investments CDI + 0.80% 14.56% 355,770 515,928 12/01/2023 Investments CDI + 2.07% 16.33% 50,467 — 03/01/2025 Working capital CDI + 2.25% 16.81% 62,760 60,700 01/05/2026 Investments Export Credit Agency (“ECA”) Euribor + 0.58% 1.94% 68,455 95,460 09/01/2026 Investments IPCA + 4.10% 18.47% 73,717 — 01/01/2030 Investments 17,925,055 7,911,356 Unsecured Debentures CDI +0.50% — — 2,033,161 10/01/2022 Investments IPCA + 7.48% — — 165,478 12/01/2022 Investments IPCA + 5.87% 12.28% 907,366 873,474 12/01/2023 Investments CDI + 1.95% 15.87% 824,866 717,651 08/01/2024 Investments IPCA + 4.33% 10.64% 523,837 501,278 10/01/2024 Investments CDI + 2.65% 16.66% 1,819,837 1,858,837 08/01/2025 Investments IPCA + 7.36% 13.86% 114,014 108,451 12/01/2025 Investments IPCA + 4.68% 10.53% 518,680 543,752 02/01/2026 Investments CDI + 1.45% 15.30% 399,616 — 12/01/2026 Investments IGPM + 6.10% 12.36% 372,171 352,235 05/01/2028 Investments CDI + 1.50% 15.35% 407,308 — 05/01/2028 Investments CDI + 1.65% 15.53% 787,519 774,215 08/01/2028 Investments IPCA + 4.50% 10.34% 1,523,382 1,483,873 02/01/2029 Investments IPCA + 3.90% 9.71% 1,048,252 1,018,844 10/01/2029 Investments IPCA + 6.80% 12.77% 893,852 891,972 04/01/2030 Investments IPCA + 3.60% 9.39% 367,476 361,862 12/01/2030 Working capital IPCA + 5.12% 11.48% 491,153 484,974 08/01/2031 Investments CDI + 2.00% 15.92% 946,379 930,301 08/01/2031 Investments IPCA + 5.75% 12.15% 394,008 374,761 08/01/2031 Investments CDI + 1.90% 15.81% 1,120,577 — 01/05/2032 Investments IPCA + 5.99% 11.91% 435,780 — 06/01/2032 Investments IPCA + 5.73% 11.64% 537,261 505,584 10/01/2033 Investments IPCA + 4.00% 9.81% 941,203 952,671 12/01/2035 Investments IPCA + 4.54% 10.38% 80,987 126,668 06/01/2036 Investments IPCA + 5.22% 11.59% 467,841 477,578 08/01/2036 Investments Senior Notes due 2023 Prefixed — — 685,550 03/01/2023 Acquisition Senior Notes due 2025 Prefixed — — 2,981,335 01/01/2022 Acquisition Senior Notes due 2029 Prefixed 5.50% 3,953,564 4,226,142 09/01/2029 Acquisition Senior Notes due 2027 Prefixed 7.00% 3,587,265 4,305,928 01/01/202 Acquisition Senior Notes due 2028 Prefixed 5.25% 2,196,083 2,700,621 01/01/2028 Acquisition Senior Notes due 2032 Prefixed 4.20% 2,124,051 2,800,716 01/01/2032 Acquisition Perpetual Notes Prefixed 8.25% 2,641,732 2,825,420 11/01/2040 Acquisition Working capital CDI + 1.60% 15.47% 100,170 100,157 06/01/2023 Working capital SOFR + 1.50% 1.50% 2,334,615 — 05/01/2027 Acquisition Resolution 4,131 Prefixed 5.50% 45,124 — 05/01/2023 Investments Prefixed 3.67% 395,285 438,823 05/01/2023 Investments Prefixed 1.36% 377,705 414,378 02/01/2024 Investments Prefixed 2.13% 1,000,957 — 02/01/2025 Investments Prepayment 1.27% 1.27% 151,871 166,355 7/1/2023 Working capital 3M Libor + 1.00% 1.59% 104,667 111,955 10/01/2023 Working capital Loans abroad Prefixed — — 857 09/01/2022 Investments Prefixed — — 37,674 11/01/2022 Working capital 6M Libor + 1.50% — — 263,501 12/01/2022 Acquisition Prefixed 1.90% 125,707 150,649 12/01/2023 Investments 35,062,161 37,747,681 Total 52,987,216 45,659,037 Current 4,542,205 4,241,368 Non-current 48,445,011 41,417,669 |
Summary of Loans, borrowings and debentures | Loans, borrowings and debentures that are classified as non-current have the following maturities: December 31, 2022 December 31, 2021 1 2 4,534,638 4,339,743 2 3 6,663,907 2,968,458 3 4 5,631,841 4,029,690 4 5 8,550,932 984,015 5 6 4,836,087 6,902,914 6 7 6,527,516 4,701,952 7 8 2,180,672 6,595,854 Over 8 9,519,418 10,895,043 48,445,011 41,417,669 |
Summary of carrying amounts of loans, financing and debentures are denominated by currencies | Loans, borrowings and debentures are denominated in the following currencies: December 31, 2022 December 31, 2022 Real 24,450,190 23,304,742 U.S. Dollar 18,912,917 21,806,154 Euro 5,728,508 96,317 Yen 3,769,894 — Pound Sterling 125,707 451,824 52,987,216 45,659,037 |
Schedule of movements in loans, borrowings and debentures | Below are the changes in loans, borrowings, and debentures during the year ended December 31, 2022: Balance as of January 1, 2021 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 Balance as of December 31, 2021 45,659,037 Business combination (Note 8.3 12,825 Proceeds (i) 23,886,960 Repayment of principal (i) (15,278,378 ) Payment of interest (3,441,978 ) Interest, exchange rate and fair value 2,148,750 Balance as of December 31, 2022 52,987,216 (i) The presented values are primarily attributable to borrowings obtained in connection with the acquisition of Vale’s shares. See Note 1.3 |
Summary of lease liabilities | Balance as of January 1, 2021 3,001,847 Business Combination (note 8.3 3,281 Additions 142,562 Interest 426,313 Transfer between liabilities (54,139 ) Repayment of principal (461,040 ) Payment of interest (165,301 ) Monetary adjustment 374,155 Balance as of December 31, 2021 3,267,678 Business combination (Note 8.3 174,229 Additions 224,714 Write-offs (116,157 ) Interest 377,449 Repayment of principal (400,248 ) Payment of interest (211,611 ) Monetary adjustment 221,077 Transfers between liabilities (4,973 ) Balance as of December 31, 2022 3,532,158 Current 550,529 Non-current 2,981,629 3,532,158 |
Summary of impacts on income during the year that were recorded for other lease agreements that were not included in the measurement of lease liabilities | December 31, 2022 December 31, 2021 December 31, 2020 Variable lease payments not included in the recognition of lease obligations 56,612 35,482 24,045 Expenses related to short-term leases 14,986 30,507 34,101 Low asset leasing costs, excluding short-term leases 1,445 978 1,547 73,043 66,967 59,693 |
Summary of Derivative Financial Instruments | Notional Fair Value December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Foreign exchange rate derivatives Forward agreements (i) 53,012 3,313,428 (485 ) 21,305 FX option agreements 676,214 — 25,360 — Commodity option agreements (ii) — — 21,744 — 729,226 3,313,428 46,619 21,305 Electricity derivatives Forward agreements — 1,407,476 — (248,123 ) — 1,407,476 — (248,123 ) Foreign exchange Swap agreements (interest) (iii) 9,255,278 3,019,917 (155,518 ) 154,654 Swap agreements (interest and FX) (iv) 17,191,070 13,223,981 790,840 3,380,554 Forward agreements (interest and FX) (v) 12,811,427 — 760,152 — Swap agreements (interest and inflation) (iii) 10,070,343 6,590,408 (500,444 ) 77,913 49,328,118 22,834,306 895,030 3,613,121 Share price risk Swap agreements (TRS) (vi) 1,515,827 1,074,113 43,130 270,462 Call Spread (v) 5,594,212 — 1,954,493 — Collar (Vale Shares) (v) 16,931,662 — (4,078,452 ) — 24,041,701 1,074,113 (2,080,829 ) 270,462 Total financial instruments (1,139,180 ) 3,656,765 Current assets 1,086,698 194,878 Non-current assets 3,065,054 4,538,048 Current liabilities (1,039,357 ) (925,650 ) Non-current liabilities (4,251,575 ) (150,511 ) Total (1,139,180 ) 3,656,765 (i) To hedge exposures and expenses in foreign currency, the Company and its subsidiaries have foreign exchange forward agreements and/or options indexed to foreign exchange. (ii) Call options on Brent for hedging purposes, intended to provide protection in the event that the commodity's price rises above the agreed-upon price due to the Russia-Ukraine war. (iii) The Company structured derivatives to protect against exposure to pre-fixed interest in in order to convert such debt into floating rate debt. (iv) The Company and its subsidiary conduct interest and foreign exchange swap operations, making the Company active in U.S. Dollar + fixed interest and passive in a portion of the CDI. In interest and inflation Swap operations, the Company is active in IPCA + fixed interest and passive in CDI percentage. (v) The Company structured derivatives, as described in Note 1.3 (vi) The Company entered into a Total Return Swap ("TRS") agreement with commercial banks. According to the TRS, which will have a financial settlement, will receive the return on the price variation of CSAN 3 3 3 3 3 The Company's fair value loss on the TRS for the year ended December 31, 2022 was R$375,693 (a fair value gain of R$57,704 on December 31, 2021). |
Schedule of derivative debt and non-debt derivative financial instruments | Below, we demonstrate the opening value of debt and non-debt derivative financial instruments: Note December 31, 2022 December 31, 2021 Derivative financial instruments on debt 5.1 (1,228,928 ) 3,633,381 Non-debt derivative financial instruments 89,748 23,384 (1,139,180 ) 3,656,765 |
Summary of designated as hedging instruments | Carrying amount Accumulated fair value Notional December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 FX rate risk hedge Designated items Senior Notes 2025 — — — — 355,409 Senior Notes 2028 (2,791,600 ) (2,196,083 ) (2,700,621 ) (336,161 ) 108,756 Senior Notes 2032 (2,259,375 ) (2,124,051 ) (2,938,939 ) (629,220 ) (14,775 ) PPE 1 (157,800 ) (156,884 ) — 2,389 — PPE 2 (110,400 ) (104,667 ) — 2,624 — Total debt (5,319,175 ) (4,581,685 ) (5,639,560 ) (960,368 ) 449,390 Derivative financial instruments Swaps Senior Notes 2025 — — — — (120,326 ) Swaps Senior Notes 2028 2,791,600 (418,674 ) 266,526 685,200 277,542 Swaps Senior Notes 2032 2,259,375 (128,986 ) 675,572 804,558 675,572 Swap PPE 1 157,800 (11,079 ) — (11,079 ) — Swap PPE 2 110,400 (7,067 ) — (7,067 ) — Total derivatives 5,319,175 (565,806 ) 942,098 1,471,612 832,788 Total — (5,147,491 ) (4,697,462 ) 511,244 1,282,178 Carrying amount Accumulated fair value Notional December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Interest rate risk hedge Designated items Senior Notes 2023 — — — — (188,083 ) 5 (684,501 ) (907,366 ) (873,474 ) (33,892 ) 17,184 BNDES Project VIII (Comgás) (1,000,000 ) (851,689 ) (921,949 ) 70,260 (921,949) Debentures (Rumo) (5,985,275 ) (5,755,679 ) (5,359,574 ) (327,290 ) 149,491 Finem (Rumo) (29,641 ) (28,115 ) — (1,644 ) — CCB (Rumo) (796,338 ) (785,366 ) — (4,418 ) — Total debt (8,495,755 ) (8,328,215 ) (7,154,997 ) (296,984 ) (943,357 ) Derivative financial instruments Swaps Senior Notes 2023 — — — — 10,057 Swaps 5 684,501 221,000 (189,928 ) 1,248 (401,669 ) BNDES Project VIII (Comgás) 1,000,000 (90,193 ) 51,220 (61,242 ) 51,220 Swaps Debentures (Rumo) 5,985,275 (148,662 ) (75,806 ) 72,856 (196,959 ) Finem 29,641 (558 ) — 558 — CCB (Rumo) 796,338 (6,976 ) — 6,976 — Total derivatives 8,495,755 (25,389 ) (214,514 ) 20,396 (537,351 ) Total — (8,353,604 ) (7,369,511 ) (276,588 ) (1,480,708 ) |
Schedule of fair value option of financial instruments | The Company chose to designate protected liabilities (hedge items) to be recorded at fair value through profit or loss. Considering that derivative instruments are always accounted for at fair value through profit or loss, the accounting effects are the same as those obtained by means of the documentation of a hedge: Carrying amount Accumulated Fair Value Notional December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 FX rate risk Items Senior Notes 2027 USD+7.0% (3,391,505 ) (3,587,265 ) (4,305,928 ) 967,778 313,052 Export Credit Agreement (Rumo) EUR + 0.58% (100,198 ) (68,455 ) (95,460 ) 377 (1,337 ) Resolution 4,131 USD+2.20% — — (148,932 ) 247 4,412 Resolution 4,131 2018 USD + 3.67% (268,125 ) (395,285 ) (438,823 ) (2,680 ) (18,230 ) Resolution 4,131 2021 USD + 1.36% (407,250 ) (377,705 ) (414,378 ) 15,545 5,526 Resolution 4,131 2022 USD + 2.13% (1,097,400 ) (1,000,957 ) — 51,798 — Total (5,264,478 ) (5,429,667 ) (5,403,521 ) 1,033,065 303,423 Derivative instruments Swap Senior Notes 2027 126.85% of the CDI 3,391,505 1,285,454 2,047,237 (736,466 ) 45,181 FX and interest rate swap (Rumo) 108% of CDI 100,198 15,468 30,535 15,067 ( 3,096 ) FX and interest rate swap (Rumo) 118% of CDI — — 47,527 47,527 ( 20,019 ) EIB 3 88.5% of the CDI — — — — 844 EIB 4 81.1% of the CDI — — — — 2,583 Resolution 4,131 2018 107.9% of the CDI 268,125 123,760 168,358 (61,685 ) 20,794 Resolution 4,131 2020 CDI + 2.75% — — — — 15,711 Resolution 4,131 2021 CDI + 1.25% 407,250 (50,245 ) (514 ) (88,612 ) (6,628 ) Resolution 4,131 2022 CDI + 1.20% 1,097,400 (160,369 ) — (217,215 ) — Total derivatives 5,264,478 1,214,068 2,293,143 (1,041,384 ) 95,408 Total — (4,215,599 ) (3,110,378 ) (8,319 ) 398,831 Carrying amount Accumulated fair value Notional December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Interest rate risk Items 4 3 IPCA + 7.36% (114,818 ) (114,014 ) — (114,014 ) — 6 IPCA + 4.33% (523,993 ) (523,837 ) — (523,837 ) — 9 1 IPCA + 5.12% (500,000 ) (491,153 ) (484,974 ) (6,179 ) (484,974 ) 9 2 IPCA + 5.22% (500,000 ) (467,841 ) (477,578 ) 9,737 (477,578 ) BNDES Projects VI and VII (Comgás) IPCA + 4.10% (160,126 ) (131,885 ) — (131,885 ) — BNDES Project VIII (Comgás) IPCA + 3.25% (870,149 ) (801,812 ) — (801,812 ) — BNDES Project IX (Comgás) IPCA + 5.74% (565,582 ) (544,925 ) — (544,925 ) — Debentures (Rumo) IPCA + 4.68% (420,000 ) (518,680 ) (543,752 ) (6,070 ) 82,474 Debentures (Rumo) IPCA + 4.50% (600,000 ) (704,954 ) (676,798 ) (34,745 ) 131,153 Total (4,254,668 ) (4,299,101 ) (2,183,102 ) (2,153,730 ) (748,925 ) Derivative instruments Swaps 4 2 94.64% CDI — — — (3,900 ) — Swaps 4 3 112.49% CDI 114,818 (778 ) — (5,096 ) — 6 89.9% CDI 523,993 (10,419 ) — (26,161 ) — Swaps 9 1 109.20% CDI 500,000 (17,705 ) 5,776 (37,517 ) 5,776 Swaps 9 2 110.50% CDI 500,000 (40,441 ) 12,939 (53,304 ) 12,939 BNDES Projects VI and VII (Comgás) 87.50% CDI 160,126 (2,046 ) — (6,923 ) — BNDES Project VIII (Comgás) 82.94% CDI 870,149 (21,039 ) — (48,613 ) — BNDES Project VIII (Comgás) 82.94% CDI 565,582 (6,632 ) — (6,632 ) — Debentures (Rumo) 107% CDI 420,000 76,194 71,375 (4,819 ) (11,682 ) Debentures (Rumo) 103% CDI 600,000 74,092 82,344 8,252 (41,468 ) Total derivatives 4,254,668 51,226 172,434 (184,713 ) (34,435 ) Total — (4,247,875 ) (2,010,668 ) (2,338,443 ) (783,360 ) |
Summary of Trade Receivables | December 31, 2022 December 31, 2021 Domestic market 3,085,227 1,810,867 Unbilled revenue (i) 968,147 975,588 Foreign market - foreign currency 28,786 74,450 4,082,160 2,860,905 Expected credit losses (154,618 ) (115,052 ) 3,927,542 2,745,853 Current 3,769,908 2,580,776 Non-current 157,634 165,077 3,927,542 2,745,853 (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, 2022 December 31, 2021 Not overdue 3,514,756 2,484,633 Overdue Up to 30 376,868 206,244 From 31 60 40,389 21,130 From 61 90 20,254 22,351 More than 90 129,893 126,547 Expected credit losses (154,618 ) (115,052 ) 3,927,542 2,745,853 |
Summary of Changes in Allowance for Doubtful Accounts | Changes in the expected credit losses are as follows: Balance as of January 1, 2021 (136,024 ) Provision / reversal (10,762 ) Foreign exchange (340 ) Write-offs 32,074 Balance as of December 31, 2021 (115,052 ) Business combination (Note 8.3 (31,923 ) Provision / reversal (28,463 ) Foreign exchange (4,905 ) Write-offs 25,725 Balance as of December 31, 2022 (154,618 ) |
Summary of Receivables from and Payables to Related Parties | a) Accounts receivable and payable with related parties December 31, 2022 December 31, 2021 Current assets Commercial operations Raízen S.A. (i) 79,297 54,199 Termag - Maritime Terminal of Guarujá S.A. 14,286 14,286 Aguassanta Participacoes S.A. 2,184 2,956 Others 11,936 361 107,703 71,802 Financial and corporate operations Raízen S.A. (i) 20,586 8,978 Ligga S.A. (ii) 107,252 17,500 127,838 26,478 Total current assets 235,541 98,280 Non-current assets Commercial operations Raízen S.A. (i) 47,731 47,732 Termag - Maritime Terminal of Guarujá S.A. 43,810 64,286 91,541 112,018 Financial and corporate operations Raízen S.A. (i) 149,347 205,958 Others 113 235 149,460 206,193 Total non-current assets 241,001 318,211 Total assets 476,542 416,491 Current liabilities Commercial operations Raízen S.A. (i) 296,051 221,373 Aguassanta Participações S.A. 6,419 — Others 20,569 6,365 323,039 227,738 Financial and corporate operations Raízen S.A. (i) 64,697 59,871 64,697 59,871 Total current liabilities 387,736 287,609 (i) Current and non-current assets receivable from Raízen S.A. and its subsidiaries are, substantially, tax credits that will be reimbursed to the Company when realized. The preferred shares are used by Raízen to reimburse Cosan, with preferred dividends, when the net operating loss is consumed in Raízen. Current liabilities represent S.A.'s obligation to reimburse S.A. and its subsidiaries for expenses related to legal disputes and other liabilities incurred prior to the formation of the joint venture (ii) Advance for future capital increase. |
Summary of Related Party Transactions | b) Related party transactions December 31, 2022 December 31, 2021 December 31, 2020 Operating income Raízen S.A. and its subsidiaries 908,588 679,500 675,436 Others 6,910 — 268 915,498 679,500 675,704 Purchase of products / inputs / services Raízen S.A. (i) (2,528,022 ) (1,576,070 ) (1,136,691 ) Other — — (939 ) (2,528,022 ) (1,576,070 ) (1,137,630 ) Shared income (expenses) Raízen S.A. (68,120 ) (73,831 ) (81,018 ) Others 96 — — (68,024 ) (73,831 ) (81,018 ) Finance result Raízen S.A. (106 ) 4,937 6,345 Cosan Limited — — — Other (92 ) — 47 (198 ) 4,937 6,392 Total (1,680,746 ) (965,464 ) (536,552 ) |
Summary of Officers' and Directors' Compensation | December 31, 2022 December 31, 2021 December 31, 2020 Short-term benefits to officers and directors 160,020 177,405 102,250 Share-based compensation 77,210 68,209 15,441 Long-term benefits to officers and directors 26,563 5,863 — Post-employment benefits 2,039 750 1,045 265,832 252,227 118,736 |
Summary of carrying amounts of trade payables | December 31, 2022 December 31, 2021 Materials and service suppliers 2,929,310 1,847,222 Natural gas and transportation suppliers (i) 1,393,418 1,314,946 Electricity and transportation suppliers 42,732 74,893 Fuels and lubricants suppliers 1,086 118 Other 13,305 16,325 4,379,851 3,253,504 (i) The open balance of natural gas supply primarily refers to the natural gas supply contracts with Petróleo Brasileiro S.A. (“Petrobras”). |
Schedule of changes in net sector financial asset (liability) | The following demonstrates the change in net sectorial financial assets (liabilities) for the year ending on December 31, 2022: Sectorial asset Sectorial liabilities Total Balance as of January 1, 2021 241,749 (565,911 ) (324,162 ) Cost of gas (i) 228,153 — 228,153 Tax credits (ii) — (167,397 ) (167,397 ) Monetary update (iii) 19,699 (263,410 ) (243,711 ) Extemporaneous credit (iv) — (375,565 ) (375,565 ) Deferral of IGP-M (v) 68,709 — 68,709 Balance as of December 31, 2021 558,310 (1,372,283 ) (813,973 ) Cost of gas (i) (466,743 ) — (466,743 ) Tax credits (ii) — 16,876 16,876 Monetary update (iii) 80,996 (120,804 ) (39,808 ) Deferral of IGP-M (v) 110,013 — 110,013 Business combination (Note 8.3 (ii) 59,757 (140,405 ) (80,648 ) Balance as of December 31, 2022 342,333 (1,616,616 ) (1,274,283 ) Current 148,955 (67,419 ) 81,536 Non-current 193,378 (1,549,197 ) (1,355,819 ) 342,333 (1,616,616 ) (1,274,283 ) (i) Refers to the difference between the cost of gas purchased and that contained in tariffs, which is fully classified as current assets since the regulator's deliberation calls for annual tariff recovery for the residential and commercial segments and quarterly tariff recovery for the other segments. (ii) Refers to the net amount of tax credits on tax benefits in the year. (iii) Recalculation of the gas current account and extemporaneous credit using the SELIC rate. (iv) Credit for the exclusion of ICMS from the PIS and COFINS base, see details in Note 6 . (v) Appropriation of the deferral of the IGP-M for the residential and commercial segments. |
Summary of Market Value of Senior Notes that are listed on Luxembourg Stock Exchange | The market value of the debts below are quoted on the Luxembourg Stock Exchange (Note 5.6 December 31, 2022 December 31, 2021 Senior Notes 2023 Cosan Luxembourg S.A. — 100.26% Senior Notes 2025 Rumo Luxembourg S.à rl. — 103.04% Senior Notes 2027 Cosan Luxembourg S.A. 100.92% 103.79% Senior Notes 2028 Rumo Luxembourg S.à rl. 95.04% 103.42% Senior Notes 2029 Cosan Luxembourg S.A. 94.30% 104.39% Senior Notes 2032 Rumo Luxembourg S.à rl. 80.36% 94.34% Perpetual Notes Cosan Luxembourg S.A. 98.92% 102.17% |
Summary of carrying amounts and fair value of financial assets and financial liabilities | The carrying amounts and fair value of consolidated assets and liabilities are as follows: Assets and Liabilities Measured at Fair Value Carrying amount December 31, 2022 December 31, 2021 Note December 31, 2022 December 31, 2021 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Investment funds 5.2 1,304,332 8,103,713 — 1,304,332 — — 8,103,713 — Marketable securities 5.3 22,099,766 4,388,007 19,586,193 2,513,573 — — 4,388,007 — Other financial assets 89,238 320,193 89,238 — — — 320,193 — Investment properties (i) 10.5 14,103,060 3,886,696 — — 14,103,060 — — 3,886,696 Derivative financial instruments 5.6 4,151,752 4,732,926 — 4,151,752 — — 4,732,926 — Total 41,748,148 21,431,535 19,675,431 7,969,657 14,103,060 — 17,544,839 3,886,696 Liabilities Loans, financing and debentures 5.4 (52,987,216 ) (45,659,037 ) — (45,038,188 ) — (30,157,655 ) (20,214,600 ) — Derivative financial instruments 5.6 (5,290,932 ) (1,076,161 ) — (5,290,932 ) — — (1,076,161 ) — Total (58,278,148 ) (46,735,198 ) — (50,329,120 ) — (30,157,655 ) (21,290,761 ) — (i) The fair value of investment properties was determined using the direct comparative method of market data applied to transactions involving similar properties (type, location, and quality of property) and, to a lesser extent, sales quotes for potential transactions involving comparable assets (level 3 11.20 13.75 6.5 9 |
Schedule of exposure to financial risks | Risk Exposure arising from Measurement Management Market risk – foreign exchange (i) Future commercial transactions. (ii) Recognized financial assets and liabilities not denominated in Brazilian reais. (i) Cash flow forecasting (ii) Sensitivity analysis Foreign currency. Market risk – interest rate Cash and cash equivalents, securities, loans, financing and debentures, leases and derivative financial instruments. (i) Sensitivity analysis Interest rate Swap. Market risk - price (i)Future business transactions. (ii)Investment in Securities (i)Cash flow forecasting (ii)Sensitivity analysis (i)Future price of electricity (purchase and sale) (iii) Credit risk Cash and cash equivalents, marketable securities, trade receivables, derivatives, receivables from related parties, dividends, and investment property (i) Aging analysis by maturity (ii) Credit ratings Availability of lines of credit Liquidity risk Loans, financing and debentures, accounts payable to suppliers, other financial liabilities, REFIS, leases, derivatives, payables to related parties and dividends. (i) Cash flow forecasting Availability of lines of credit |
Schedule of net exposure to the exchange rate variations on assets and liabilities denominated in U.S. dollar and Euro | As of December 31, 2022 and 2021 December 31,2022 December 31,2021 Cash and cash equivalents 1,138,948 3,811,598 Trade receivables — 93,326 Trade payables (97,259 ) (4,721 ) Loans, borrowings and debentures (13,698,102 ) (19,640,300 ) Leases (94,716 ) (108,365 ) Consideration payable (223,960 ) (234,960 ) Derivative financial instruments (notional) 7,728,609 21,105,358 Foreign exchange exposure, net (5,246,480 ) 5,021,936 |
Summary of Sensitivity Analysis on Changes in Foreign Exchange Rates Impact on Profit Loss | The probable scenario considers the estimated exchange rates, made by a specialized third party, at the due date of the transactions for the companies with functional currency Brazilian reais (positive and negative, before tax effects), as follows: Scenarios Instrument Risk Factor Probable 25 50 ( 25 ( 50 Cash and cash equivalents Low FX rate 7,051 286,509 573,009 (286,490 ) (572,990 ) Trade payables High FX rate 3,160 (18,941 ) (41,042 ) 25,261 47,362 Derivative financial instruments Low FX rate 1,001,928 (732,481 ) (1,451,245 ) 802,517 1,628,860 Loans, borrowings High FX rate (398,592 ) (5,730,777 ) (11,461,553 ) 5,730,777 11,461,553 Leases High FX rate 3,477 (20,839 ) (45,155 ) 27,793 52,109 Effect on profit or loss before tax 617,024 (6,216,529 ) (12,425,986 ) 6,299,858 12,616,894 |
Summary of Sensitivity Analysis on Changes in Foreign Exchange Rates | The probable scenario considers the estimated exchange rates, made by a specialized third party, at the due date of the transactions for the companies with functional currency Brazilian reais (positive and negative, before tax effects), as follows: Exchange rate sensitivity analysis December 31, 2022 Scenario Probable 25 50 ( 25 ( 50 U.S.$ 5.2177 5.2500 6.5625 7.8750 3.9375 2.6250 € 5.5694 5.7225 7.1531 8.5838 4.2919 2.8613 £ 6.2785 6.6150 8.2688 9.9225 4.9613 3.3075 ¥ 0.0392 0.0410 0.0513 0.0615 0.0308 0.0205 |
Summary of sensitivity analysis on interest rates on loans and financing which impacts on profit or loss | Below is a sensitivity analysis of interest rates on loans and financing and financial assets linked to the CDI rate with 25% and 50% pre-tax increases and decreases: Scenarios Interest rate exposure Probable 25 50 ( 25 ( 50 Cash and cash equivalents 1,699,515 1,931,748 2,355,898 1,088,365 665,854 Marketable securities 306,846 287,588 364,300 134,165 57,453 Restricted cash 18,420 18,380 22,985 9,171 4,565 Lease and concession in installments (146,467 ) (183,084 ) (219,700 ) (109,850 ) (73,233 ) Lease (447,011 ) (447,729 ) (448,451 ) (446,296 ) (445,585 ) Derivative financial instruments (993,288 ) (2,534,024 ) (2,268,366 ) (2,771,263 ) (2,884,394 ) Loans, borrowings (2,319,734 ) (2,643,462 ) (3,053,829 ) (1,610,620 ) (2,274,093 ) Other financial liabilities (119,769 ) (146,869 ) (173,969 ) (92,668 ) (65,568 ) Loss before tax (2,001,488 ) (3,717,452 ) (3,421,132 ) (3,798,996 ) (5,015,001 ) |
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, as follows: Scenarios Probable 25 50 ( 25 ( 50 SELIC 13.35% 16.69% 20.03% 10.02% 6.68% CDI 13.25% 16.57% 19.88% 9.94% 6.63% TJLP 462 1 8.00% 9.75% 11.50% 6.25% 4.50% TJLP 7.00% 8.75% 10.50% 5.25% 3.50% IPCA 4.98% 6.23% 7.47% 3.74% 2.49% IGP-M 4.45% 5.56% 6.67% 3.34% 2.22% Libor 4.43% 5.54% 6.64% 3.32% 2.21% Fed Funds 5.25% 6.56% 7.88% 3.94% 2.63% |
Schedule of outstanding energy trading operations | The following are the balances pertaining to our open electricity transactions: December 31,2022 December 31,2021 Assets Liabilities Net Income Assets Liabilities Net Income Electricity trading — — — 69,576 (317,699 ) (248,123 ) |
Summary of positions in natural gas derivatives | These are our open positions in natural gas derivatives: Scenarios Instrument Risk factor Probable 25 50 ( 25 ( 50 Brent derivatives – options Price variation US$/bbl 21,744 21,878 64,345 127,602 3,508 |
Summary of sensitivity analysis considers the closing price of the shares | The sensitivity analysis considers the closing price of the shares, as shown below: Scenarios Instrument Probable 25 50 ( 25 ( 50 CSAN 3 1,378,141 274,714 605,285 (386,428 ) (716,999 ) RAIL 3 293,684 73,421 146,842 (73,421 ) (146,842 ) VALE 3 6,254,192 1,563,548 3,127,096 (1,563,548 ) (3,127,096 ) VALE 3 13,332,000 2,744,775 2,744,775 (520,500 ) (520,500 ) VALE 3 716,586 1,541,654 1,541,654 (69,748 ) (69,748 ) Scenarios Share December 31,2022 Probable 25 50 ( 25 ( 50 CSAN 3 17.12 17.12 21.40 25.68 12.84 8.56 RAIL 3 18.61 18.61 23.26 27.92 13.96 9.31 VALE 3 88.88 88.88 111.10 133.32 66.66 44.44 |
Summary of Credit Risk | December 31,2022 December 31,2021 Cash and cash equivalents 13,301,716 16,174,130 Trade receivables 3,927,542 2,745,853 Marketable securities 2,513,574 4,388,007 Restricted cash 139,933 58,990 Derivative financial instruments 4,151,752 4,732,926 Receivables from related parties 476,542 416,491 Receivable dividends and interest on equity 161,147 519,965 Other financial assets 89,238 320,193 24,761,444 29,356,555 |
Summary of Credit Risk Rating | December 31,2022 December 31,2021 AAA 16,769,858 23,080,390 AA 3,133,455 2,239,266 A 138,478 — BBB — 34,397 Not rated 65,184 — 20,106,975 25,354,053 |
Summary of financial liabilities by due dates based on undiscounted cash flows contracted | The Company's financial liabilities (based on contracted undiscounted cash flows) are categorized by maturity dates as follows: December 31,2022 December 31,2021 Up to 1 From 1 2 From 3 5 Over 5 Total Total Loans, borrowings (4,844,717 ) (5,822,518 ) (12,609,628 ) (39,923,264 ) (63,200,127 ) (57,375,287 ) Trade payables (4,379,851 ) — — — (4,379,851 ) (3,253,504 ) Other financial liabilities (924,562 ) — — — (924,562 ) (726,423 ) Installment of tax debts (53,520 ) (2,077 ) (89 ) (153,074 ) (208,760 ) (200,664 ) Leases (434,903 ) (420,692 ) (929,060 ) (14,652,184 ) (16,436,839 ) (15,631,812 ) Lease and concession in installments (196,384 ) (192,639 ) (188,331 ) (559,819 ) (1,137,173 ) (1,185,076 ) Payable to related parties (387,736 ) — — — (387,736 ) (287,609 ) Dividends payable (892,006 ) — — — (892,006 ) (799,634 ) Derivative financial instruments (1,590,774 ) (2,498,419 ) 1,232,960 2,772,107 (84,126 ) 6,313,208 (13,704,453 ) (8,936,345 ) (12,494,148 ) (52,516,234 ) (87,651,180 ) (73,146,801 ) |
OTHER TAX RECEIVABLE (Tables)
OTHER TAX RECEIVABLE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
OTHER TAX RECEIVABLE | |
Summary of Other Tax Receivable | December 31, 2022 December 31, 2021 COFINS (i) 975,878 1,333,868 ICMS 845,450 873,203 ICMS CIAP 118,809 106,250 PIS (i) 350,867 299,610 Tax credits 31,774 42,932 Others 76,348 145,304 2,399,126 2,801,167 Current 1,324,203 921,472 Non-current 1,074,923 1,879,695 (i) On May 13, 2021, the Federal Supreme Court ("STF") concluded the judgment of Extraordinary Appeal No. 574,706 Since the Federal Income Office ( Secretaria da Receita Federal |
INVENTORIES (Tables)
INVENTORIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
INVENTORIES | |
Summary of inventories and written down of inventories | December 31, 2022 December 31, 2021 Finished goods 1,504,134 814,320 Parts and accessories 168,777 180,286 Construction material 152,789 126,889 Warehouse and others 43,359 27,809 1,869,059 1,149,304 |
INVESTMENTS (Tables)
INVESTMENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about business combination [line items] | |
Summary of Basis of Consolidation | Cosan’s subsidiaries are listed below: Direct stake in subsidiary December 31, 2022 December 31, 2021 Compass Gás e Energia (i) — 88.00% Cosan Lubes Investments Limited 70.00% 70.00% Cosan Corretora de Seguros Ltda. (ii) 100.00% — Cosan Global Limited 100.00% 100.00% Cosan Luxembourg S.A. (iii) 100.00% 100.00% Cosan Oito S.A. (iv) 100.00% — Cosan Nove (iv) 73.09% — Cosan Dez Participações S.A. (iv) 76.80% — Cosan Overseas Limited 100.00% 100.00% Pasadena Empreendimentos e Participações S.A. 100.00% 100.00% Atlântico Participações Ltda. 100.00% 100.00% Payly Soluções de Pagamentos S.A. (v) — 75.00% Cosan Limited Partners Brasil Consultoria Ltda. 97.50% 97.50% Sinlog Tecnologia em Logística S.A. 57.48% 72.25% Rumo S.A. 30.35% 30.35% Radar Propriedades Agrícolas S.A. 41.45% — Radar II Propriedades Agrícolas S.A. 50.00% — Nova Agrícola Ponte Alta S.A. 41.45% — Nova Amaralina S.A Propriedades Agrícolas 41.45% — Nova Santa Bárbara Agrícola S.A. 41.45% — Terras da Ponta Alta S.A. 41.45% — Castanheira Propriedades Agrícolas S.A. 41.45% — Manacá Propriedades Agrícolas S.A. 41.45% — Paineira Propriedades Agrícolas S.A. 41.45% — Violeta Fundo de Investimento Multimercado 100.00% 100.00% Tellus Brasil Participações S.A. (vi) 19.57% 5.00% Janus Brasil Participações S.A. (vi) 19.57% 5.00% Duguetiapar Empreendimentos e Participações S.A. (vi) 19.57% — Gamiovapar Empreendimentos e Participações S.A. (vi) 19.57% — (i) On December 23, 2022, the Company contributed its direct investment in Compass e to . As a result, now holds an indirect stake in Compass e of 67.58%. (ii) Subsidiary created to manage the Company's insurance contracts. (iii) On December 31, 2022, Lux had an unsecured liability of R$146,473. As shown in the table below, no events or conditions have been identified that, individually or collectively, raise substantial doubt about the entity's operational capacity to continue operating. The Company provides financial support to its subsidiaries. (iv) Entities created as part of the financial investment structure used to acquire Vale S.A. shares. See Note 1.3 contribution to Nove , the Company now directly and indirectly holds 33.63% of shares (v) Entity sold to as presented in Note 20 (vi) For the highlighted entities, the Company has an indirect interest of 0.43%, which grants a total interest of 20% of the share capital. |
Summary of Information in Associates of Company and Company's Ownership | The following are the Company's investments in its associates as of December 31, 2022: Number of shares in the investee Investor's shares Equity interest Economic benefit (%) 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% Gás de Alagoas S.A. - ALGÁS 810,896,963 238,728,878 29.44% 29.44% Companhia de Gás do Ceará - Cegás 39,400,000 11,599,428 29.44% 29.44% CEG Rio S.A. 1,995,022,625 746,251,086 37.41% 37.41% Companhia Paranaense de Gás - Compagás 33,600,000 8,232,000 24.50% 24.50% Companhia Potiguar de Gás - Potigas 4,245,000 3,523,350 83.00% 83.00% Companhia de Gás de Mato Grosso do Sul - Msgás 61,610,000 30,188,900 49.00% 49.00% Companhia de Gás de Santa Catarina - Scgás 10,749,497 4,407,293 41.00% 41.00% Sergipe Gás S.A. - SERGÁS 1,593,656 661,363 41.50% 41.50% Companhia Pernambucana de Gás - Copergás 163,485,912 67,846,653 41.50% 41.50% At January 1, 2022 Interest in earnings of associates Change of equity interest in subsidiary Other comprehensive income Dividends Disposal of investment (i) Capital increase Business combination (Note 8.3 ) Other At December 31, 2022 Tellus Brasil Participações S.A. 142,798 128,860 — — (30,756 ) — 58,806 (299,708 ) — — Janus Brasil Participações S.A. 183,357 150,687 — — (35,559 ) — 79,725 (378,210 ) — — Rhall Terminais Ltda 4,907 1,647 — — (900) — — — — 5,654 Termag - Terminal Marítimo de Guarujá S.A. 4,725 4,445 — — — — — — (706 ) 8,464 TGG - Terminal de Granéis do Guarujá S.A. 17,563 5,689 — — (5,784 ) — — — — 17,468 Terminal XXXIX S.A. 30,649 22,487 — — — — — — — 53,136 Elevações Portuarias S.A. — 6,190 135,159 — — 155,397 — — — 296,746 TUP Porto São Luis S.A. 394,380 49 — — — — — (393,579 ) (850 ) — Companhia Paranaense de Gás - Compagás — 19,931 — — (6,831 ) — — 411,737 — 424,837 Companhia Pernambucana de Gás - Copergás — 19,094 — — (9,493 ) — — 405,700 — 415,301 Companhia de Gás de Santa Catarina - Scgás — 34,885 — — (15,524 ) — — 608,468 — 627,829 Sergipe Gás S.A. - SERGÁS — 9,015 — — (3,441 ) — — 63,856 — 69,430 Companhia de Gás do Ceará - Cegás — 6,717 — — (4,189 ) — — 182,009 — 184,537 CEG Rio S.A. — 29,686 — — (16,542 ) — — 261,336 — 274,480 Companhia de Gás de Mato Grosso do Sul - Msgás — 13,530 — — (6,160 ) — — 284,173 — 291,543 Companhia Potiguar de Gás - Potigas — 9,066 — — (8,390 ) — — 168,211 — 168,887 Others 1,688 6,765 — 5,536 (2,985 ) — — 66,001 (1,374 ) 75,631 780,067 468,743 135,159 5,536 (146,554 ) 155,397 138,531 1,379,994 (2,930 ) 2,913,943 (i) Effect of the sale of control as described in Note 20 At January 1, 2021 Interest in earnings of associates 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 |
Summary of Financial Information of Associates | Financial information of associates: Balance as of December 31, 2022 Balance as of December 31, 2021 Assets Liabilities Shareholders’ equity Profit for the year Assets Liabilities Shareholders’ equity Profit (loss) for the year Tellus Brasil Participações Ltda — — — — 3,296,499 (502,734 ) 2,793,765 782,220 Janus Brasil Participações S.A. — — — — 4,261,432 (666,361 ) 3,595,071 1,048,514 Rhall Terminais Ltda. 33,382 (14,534 ) 18,848 5,811 31,068 (14,708 ) 16,360 4,073 Elevações Portuárias S.A. 950,538 (243,797 ) 706,741 127,554 — — — — Termag - Terminal Marítimo de Guarujá S.A. 273,760 (231,119 ) 42,641 19,881 276,284 (252,483 ) 23,801 11,726 TGG - Terminal de Granéis do Guarujá S.A. 254,748 (78,657 ) 176,091 58,139 253,310 (76,257 ) 177,053 37,150 Terminal XXXIX S.A. 433,412 (388,882 ) 44,530 44,530 335,511 (273,747 ) 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 | The summarized financial information for each subsidiary with relevant non-controlling equity interests is provided below. The amounts disclosed for each subsidiary are prior to intercompany eliminations. Number of shares in the investee Non-controlling shareholders’ shares Non-controlling shareholders’ equity interest Tellus Brasil Participações S.A. 133,064,584 52,960,392 80.43% Janus Brasil Participações S.A. 286,370,051 112,905,168 80.43% Duguetiapar Empreendimentos e Participações S.A. 3,573,842 1,409,865 80.43% Gamiovapar Empreendimentos e Participações S.A. 12,912,970 5,093,776 80.43% Rumo S.A. 1,854,158,791 1,291,629,301 69.66% Radar Propriedades Agrícolas S.A. 1,266,986 633,493 58.55% Nova Agrícola Ponte Alta S.A. 160,693,378 80,346,689 58.55% Terras da Ponte Alta S.A. 16,066,329 8,033,165 58.55% Nova Santa Bárbara Agrícola S.A. 32,336,994 16,168,497 58.55% Nova Amaralina S.A. 30,603,159 15,301,580 58.55% Paineira Propriedades Agrícolas S.A. 132,667,061 66,333,531 58.55% Manacá Propriedades Agrícolas S.A. 128,977,921 64,488,961 58.55% Castanheira Propriedades Agrícolas S.A. 83,850,838 41,925,419 58.55% Radar II Propriedades Agrícolas S.A. 81,440,221 40,720,111 50.00% Commit Gás S.A. 110,993 54,387 49.00% Sinlog Tecnologia em Logística S.A. 108,567 46,164 42.52% Cosan Lubes Investments S.A. 34,963,764 10,489,129 30.00% Cosan Nove 7,663,761,734 2,062,583,640 26.91% Cosan Dez Participações S.A. 3,473,458,687 805,963,829 23.20% Compass Gás e Energia 714,190,095 85,702,404 12.00% Comgás 132,520,587 1,139,210 0.86% Cosan Limited Partners Brasil Consultoria Ltda 160,000 4,000 2.50% The following table provides a summary of information pertaining to each of the Company's subsidiaries that hold non-controlling equity interests, prior to any intra-group elimination: Balance as of January 1, 2022 Profit attributable to non-controlling interests Sales or purchase of interests Other comprehensive income Dividends Capital increase (i) | (ii) Acquisition of non-controlling interests Business combination (Note 8.3 Others Balance as of December 31, 2022 Comgás 28,466 14,881 — — (16,926 ) — — — 730 27,151 Sulgás — 6,466 — — (26,701 ) — (888,450 ) 908,883 (198) — Commit Gás S.A. — 107,593 — — (64,435 ) — — 2,015,493 — 2,058,651 Compass Gás e Energia 761,432 221,871 (78 ) 3,197 (201,024 ) — — — (2,815 ) 782,583 Rumo S.A. 10,527,777 357,642 (21,358 ) 2061 (89,194 ) — — — 20,218 10,797,146 Sinlog Tecnologia em Logística S.A. 6,549 (7,677 ) 16,039 — — — — — — 14,911 Cosan Limited Partners Brasil 14 (5 ) — — — — — — — 9 Cosan Lubes 683,143 145,981 — (127,123 ) — — — — — 702,001 Payly 2,602 (1,626 ) — — — — — — (976 ) — Cosan Nove — 53,353 (1,416,657 ) 10,070 (12,434 ) 4,000,910 — — (932 ) 2,634,310 Cosan Dez Participações S.A. — 14,965 (2,592,096 ) 5,073 (3,540 ) 3,888,341 — — (10,082 ) 1,302,661 Janus Brasil Participações S.A. — (10,971 ) — — — — (196,857 ) 3,981,107 — 3,773,279 Tellus Brasil Participações S.A. — 8,531 — — — — (7,508 ) 2,583,035 — 2,584,058 Gamiovapar Empreendimentos e Participações S.A. — 2,900 — — — — 4,975 497,806 — 505,681 Duguetiapar Empreendimentos e Participações S.A. — (788) — — — — (4,534 ) 76,179 — 70,857 Radar II Propriedades Agrícolas S.A. — 246,698 — 108 (124,858 ) — — — 756,931 878,879 Radar Propriedades Agrícolas S.A. — 34,002 — — (20,516 ) — — — 198,579 212,065 Nova Agrícola Ponte Alta S.A. — 97,035 — — (50,267 ) — — — 319,039 365,807 Nova Amaralina Propriedades Agrícolas S.A. — 8,000 — — (31,444 ) — — — 25,485 2041 Nova Santa Bárbara Agrícola S.A. — 53,686 — — (5,041 ) — — — 152,744 201,389 Terras da Ponte Alta S.A. — 39,890 — — (16,778 ) — — — 50,309 73,421 Paineira Propriedades Agrícolas S.A. — 58,604 — — (27,222 ) — — — 126,402 157,784 Manacá Propriedades Agrícolas S.A. — 46,793 — — (23,319 ) — — — 137,079 160,553 Castanheira Propriedades Agrícolas S.A. — 77,819 — — (66,151 ) — — — 199,327 210,995 Violeta Fundo de Investimento Multimercado 2,119,102 69,200 (107,359 ) 11,143 (132,885 ) — — — (1,959,201 ) — 14,129,085 1,644,843 (4,121,509 ) (95,471 ) (912,735 ) 7,889,251 (1,092,374 ) 10,062,503 (12,639 ) 27,516,232 (i) The Board of Directors approved, on December 23 and 28 2022 Nove Nove 100 % of the common shares issued by the subsidiaries. With the result of the operation, Cosan now holds, directly and indirectly, 67.58 % of the total share capital of Compass and 33.63 % of the share capital of Raízen. It should be noted that the rights and obligations of Cosan and the financial institutions, as shareholders of Cosan Dez and Cosan Nove The Company has a call option for all preferred shares acquired by minority shareholders, which may be exercised under the following conditions: i. Bradesco: in the period of the 3 10 ii. Itaú: in the period of the 3 10 10 30 The measurement of the fair value of these instruments is based on unobservable data, since the purchase price, if incurred by the Company, is calculated on the updated value of the shareholder's investment minus the updated dividends received. Minority shareholders do not hold a put option, and the equity risk of the minority shareholders' investment depends on whether or not the Company exercises its call option. (ii) The capital increase is stated net of preferred share issuance costs. At January 1, 2021 Profit attributable to non-controlling interests Sales or purchase of interests Other comprehensive income Dividends Capital increase 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 ) — 2,115,554 — 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 |
Summary of Financial Statements | Summarized statement of financial position: Compass (i) Cosan Dez (i) Cosan Nove Comgás Moove Rumo Cosan Investments December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Current Assets — 1,929,639 2,015 — 2,721 — 4,810,931 4,148,735 1,777,104 1,327,472 2,474,218 1,161,027 784,813 147,662 Liabilities — (28,374 ) (126,916 ) — (169,079 ) — (3,844,998 ) (4,538,385 ) (1,341,106 ) (755,995 ) (852,071 ) (760,522 ) (638,804 ) (50,038 ) Current net assets — 1,901,265 (124,901 ) — (166,358 ) — 965,933 (389,650 ) 435,998 571,477 1,622,147 400,505 146,009 97,624 Non-current Assets — 4,453,679 5,738,715 — 9,954,431 — 7,853,180 8,122,763 2,204,878 1,946,181 20,971,764 21,568,088 14,251,017 4,337,142 Liabilities — (10,296) — — — — (7,798,360 ) (6,627,895 ) (1,208,604 ) (229,802 ) (7,402,742 ) (7,173,172 ) (208,987 ) (196,562 ) Non-current net assets — 4,443,383 5,738,715 — 9,954,431 — 54,820 1,494,868 996,274 1,716,379 13,569,022 14,394,916 14,042,030 4,140,580 Shareholders’ equity — 6,344,648 5,613,814 — 9,788,073 — 1,020,753 1,105,218 1,432,272 2,287,856 15,191,169 14,795,421 14,188,039 4,238,204 (i) On December 23, 2022, Cosan contributed the investment it held in Compass Gas and Power to Cosan Dez. Summarized statement of profit or loss and other comprehensive income: Compass Cosan Dez Cosan Nove Comgás December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 Net revenue — — — — — — — — — 17,414,153 11,709,713 8,317,691 Income before taxes — 1,710,947 920,426 64,496 — — 194,522 — — 2,113,698 2,274,269 1,719,877 Income tax and social contribution — 14,164 10,839 — — — — — — (302,219 ) (155,148 ) (569,264) Result for the year — 1,725,111 931,265 64,496 — — 194,522 — — 1,811,479 2,119,121 1,150,613 Other comprehensive results — — — — — — — — — 25,058 — — Total comprehensive results — 1,725,111 931,265 64,496 — — 194,522 — — 1,836,537 2,119,121 1,150,613 Attributable comprehensive income to non-controlling shareholders — 207,012 9,220 14,965 — — 52,353 — — 15,788 18,217 9,762 Dividends paid — 982,752 600 — — — — — — 1,872,731 1,649,653 1,135,669 Moove Rumo Cosan Investments December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 Net revenue 3,842,981 2,608,680 1,911,541 984,597 772,714 950,269 222,328 31,502 — Income before taxes 485,729 310,500 150,930 633,164 198,239 349,300 4,059,326 49,218 — Income tax and social contribution 11,665 (15,742) (1,484) (118,224) (47,701) (52,137) 1,027,986 (4,215) — Result for the year 497,394 294,758 149,446 514,940 150,538 297,163 5,087,312 45,003 — Other comprehensive results — — — 2,961 — — — — — Total comprehensive results 497,394 294,758 149,446 517,901 150,538 297,163 5,087,312 45,003 — Attributable comprehensive income to non-controlling shareholders 149,218 88,427 44,834 360,776 104,850 212,561 681,889 22,502 — Dividends paid 150 — — 35,733 — — 1,255,881 — — Summarized statements of cash flows: Compass Cosan Dez Cosan Nove Comgá s December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 Cash (generated (used in) in operating activities — (44,974 ) (18,046 ) 3 — — 2 — — 3,439,489 2,539,222 2,111,551 Cash (generated (used in) in investing activities — (26,764 ) 776,872 — — — (19,217 ) — — (646,720 ) (1,025,104 ) (1,768,298) Cash generated (used in) in financing activities — 1,265,679 (525,030 ) 2,011 — — 21,936 — — (2,443,161 ) (2,202,275 ) 198,890 Reduction of cash and cash equivalents — 1,193,941 233,796 2,014 — — 2,721 — — 349,608 (688,157 ) 542,143 Cash and cash equivalents at the beginning of the year — 232,819 5 — — — — — — 891,650 1,610,548 1,083,410 — (13,898 ) (982 ) — — — — — — — (30,741 ) (15,005) Cash and cash equivalents at the end of the year — 1,412,862 232,819 2,014 — — 2,721 — — 1,241,258 891,650 1,610,548 Moove Rumo Cosan Investments December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2022 December 31, 2021 December 31, 2020 Cash (generated (used in) in operating activities 292,204 95,461 71,654 145,654 (15,679) 463,170 193,099 21,690 — Cash (generated (used in) in investing activities (41,004) 77,742 (38,910) 2,467,567 (1,469,750) (6,632,353) (6,617) 49,227 — Cash generated (used in) in financing activities (197,994) (13,766) 14,874 (1,235,688) 714,115 7,037,144 (189,917) (15,650) — Reduction of cash and cash equivalents 53,206 159,437 47,618 1,377,533 (771,314) 867,961 (3,435) 55,267 — Cash and cash equivalents at the beginning of the year 761,698 492,619 319,733 791,802 1,568,667 700,706 55,267 — — Effect of FX variation on the cash balance and cash equivalents — 109,642 125,268 — (5,551) — — — — Cash and cash equivalents at the end of the year 814,904 761,698 492,619 2,169,335 791,802 1,568,667 51,832 55,267 — |
Schedule of paid and payable consideration, as well as the fair value of the assets acquired and liabilities assumed as of the date of acquisition | Sulgás Commit TUP Tirreno PetroChoice Land Consolidation effects Consolidated Transferred consideration - 1 945,979 2,097,758 393,579 70,188 2,342,820 202,861 — 6,053,185 Transferred consideration - 2 — — 411,224 15,000 — — — 426,224 Consideration to be transferred (term) — — — — — 804,773 — 804,773 Total consideration transferred 945,979 2,097,758 804,803 85,188 2,342,820 1,007,634 — 7,284,182 Recognized amounts of identifiable assets acquired and liabilities assumed Cash, cash equivalents and restricted cash 73,298 124,174 81,800 1,476 18,883 351,688 — 651,319 Trade receivables 90,828 142,528 — 35,882 305,588 110,569 — 685,395 Inventories 7,274 3,859 — 19,121 417,365 — — 447,619 Sectorial assets — 59,757 — — — — — 59,757 Right-of-use assets 3,786 4,785 — 16,664 93,811 609 — 119,655 Dividends receivable — 254,493 — — — — (51,525 ) 202,968 Current assets for sale — 726,243 — — — — — 726,243 Investment property and property held for sale — — — — — 9,478,011 — 9,478,011 Contract asset 25,958 61,777 — — — — — 87,735 Tax credits — — 1,841 2,134 — 9,556 — 13,531 Fixed assets — 257 351,041 5,015 478,563 12 — 834,888 Intangible assets 2,749,893 988,847 437,587 59,089 1,503,575 — (1,230,182 ) 4,508,809 Investments — 2,528,220 — — — — (76,729 ) 2,451,491 Other credits 142,180 87,248 155 5,026 46,525 21,578 — 302,712 Suppliers (107,833 ) (90,689 ) (202 ) (22,048 ) (187,767 ) (61,942 ) — (470,481 ) Loans and financing — — — (12,825 ) — — — (12,825 ) Deferred income tax and social contribution (871,183 ) (649,324 ) (66,606 ) — (96,272 ) (308,971 ) 418,262 (1,574,094 ) Taxes to pay (14,647 ) (31,217 ) — (1,825 ) — (28,793 ) — (76,482 ) Provision for contingencies (10,551 ) (11,508 ) (143 ) (2,714 ) — — — (24,916 ) Sectorial liabilities (117,881 ) (22,524 ) — — — — — (140,405 ) Dividends payable (104,048 ) — — — — (633,967 ) 51,525 (686,490 ) Lease (3,940 ) (8,543 ) — (16,664 ) (144,454) (628 ) — (174,229 ) Other obligations (8,272 ) (55,132 ) (670 ) (3,143 ) (92,997) (14,702 ) — (174,916 ) Non-controlling shareholders' equity interest (908,883 ) (2,015,493 ) — — — (7,138,127 ) — (10,062,503 ) Net assets acquired at fair value 945,979 2,097,758 804,803 85,188 2,342,820 1,784,893 (888,649 ) 7,172,792 Transferred consideration for acquisition of non-controlling interests — (468,070 ) — — — — — (468,070 ) Non-controlling shareholders' equity interest — — — — — — 888,649 888,649 Previously held equity interest — — (393,579 ) — — (677,918 ) — (1,071,497 ) Bargain purchase gain — — — — — (99,341 ) — (99,341 ) Transferred consideration, net of non-controlling interests 945,979 1,629,688 411,224 85,188 2,342,820 1,007,634 — 6,422,533 Cash received (73,298 ) (124,174 ) (81,800 ) (1,476 ) (18,883 ) (351,688 ) — (651,319 ) Cash to be transferred, referring to the acquisition made in installments — — — — — (804,773 ) — (804,773 ) Settled cash referring to installments of previous acquisitions — — — — — 322,255 — 322,255 Transferred consideration, net of acquired cash and non-controlling interests 872,681 1,505,514 329,424 83,712 2,323,937 173,428 — 5,288,696 |
Schedule of revenue and profit of acquisition and estimate of consolidated revenue and profit | Commit TUP Tirreno PetroChoice Land Total Consolidated Consolidated with 12 Net operating revenue 554,364 — 87,467 907,848 347,919 1,897,598 39,737,368 41,634,966 Net profit (loss) for the year 342,967 (116 ) 2,370 (83,569 ) 3,454,364 3,716,016 2,820,875 6,536,891 |
Commit acquisition [member] | |
Disclosure of detailed information about business combination [line items] | |
Schedule of investees and their respective percentages of equity interest | Distributors Equity interest (%) Subsidiary Gas Brasiliano 100.00% Investments in associates Companhia de Gás do Estado do Mato Grosso do Sul (“MSGás”) 49.00% Companhia Potiguar de Gás (“Potigás”) (i) 83.00% Companhia de Gás do Estado do Rio Grande do Sul (“Sulgás”) (ii) 49.00% CEG Rio S.A. (“CEG Rio”) 37.41% Gás de Alagoas S.A. (“Algás”) 41.50% Companhia de Gás da Bahia (“Bahiagás”) 41.50% Companhia de Gás do Ceará (“Cegás”) 41.50% Companhia Paranaense de Gás (“Compagás”) 24.50% Companhia Pernambucana de Gás (“Copergás”) 41.50% Companhia de Gás do Amapá (“Gasap”) 37.25% Companhia de Gás do Piauí (“Gaspisa”) 37.25% Companhia Paraibana de Gás (“PBGás”) 41.50% Cia Rondoniense de Gás (“Rongás”) 41.50% Sergipe Gás S.A. (“Sergás”) 41.50% Companhia de Gás de Santa Catarina (“SCGás”) 41.00% Companhia Brasiliense de Gás (“CEBGás”) 32.00% Agência Goiana de Gás Canalizado S.A. (“GoiasGás”) 30.46% (i) The interest of 83% refers to the total shares (ordinary and preferred) even though the subsidiary does not control , as the State of Rio Grande do owns 51% of the common shares with voting rights, while Commit holds 49%. (ii) The subsidiary Compass Um S.A. owns the remaining 51% of this entity. |
Land acquisition [member] | |
Disclosure of detailed information about business combination [line items] | |
Schedule of bargain purchase gain | The effects of this gain are shown as follows: Janus Tellus Gamiovapar Duguetiapar Total Shareholders’ equity 4,976,443 3,229,044 622,306 95,228 8,923,021 Acquired interest (%) 12.40 % 12.40 % 12.40 % 12.40 % 12.40 % Acquired interest 617,125 400,789 77,241 11,820 1,106,975 Transferred consideration 567,901 363,211 66,500 10,022 1,007,634 Bargain purchase gain 49,224 37,578 10,741 1,798 99,341 Income tax and social contribution (16,736 ) (12,777 ) (3,652 ) (611 ) (33,776 ) |
INVESTMENT IN JOINT VENTURE (Ta
INVESTMENT IN JOINT VENTURE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
INVESTMENT IN JOINT VENTURE | |
Summary of Changes to Investments in Joint Ventures | Changes to the investment in joint venture were as follows on December 31, 2021: Before reorganization Raízen Combustíveis Raízen Energia Reorganization (note 1.2 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% - % 44.02 % At December 31, 2020 3,847,506 4,140,702 — 7,988,208 Interest in earnings of joint venture (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 1.2 ) — ( ) 3,204,832 — Dividends (ii) (716,230 ) ( ) 17,742 (1,070,201 ) At December 31, 2021 3,694,869 — 7,241,794 10,936,663 (i) As disclosed in Note 1.2 two Cosan . Changes to investment in joint venture were as follows on December 31, 2022: Raízen S.A. Shares issued by the joint venture 10,352,509,484 Shares held by investor 4,557,597,117 Ownership percentage (directly and indirectly) 33.63% Balance as of December 31, 2021 10,936,663 Equity income (92,179) Asset valuation adjustment 1,053,226 Dividends (i) (676,354) Balance as of December 31, 2022 11,221,356 (i) Amount proposed and allocated within this period. During the year ended December 31, 2022, previously allocated dividends and interest on equity were paid, totaling R$517,233 and R$657,538 were constituted and paid within the year, totaling R$1,174,771. |
Summary of gains and losses recognized in income under investment in 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. |
PROPERTY, PLANT AND EQUIPMENT_2
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES | |
Summary of Depreciation on Straight-line Basis Over the Estimated Useful life of Assets | Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Buildings and improvements 4% - 5% Machines, equipment and installations 8% - 11% Furniture and utensils 10% - 15% Wagons 2.9% - 6% Locomotives 3.3% - 8% Permanent railways 3% - 4% IT equipment 20% Others 10% - 20% |
Schedule of Property Plant and Equipment | Land, buildings and improvements Machines, equipment and installations Wagons and locomotives (i) Permanent railways Construction in progress Other assets Total Cost Balance as of January 1, 2021 1,577,244 1,457,234 6,720,465 7,371,126 2,804,174 508,056 20,438,299 Additions 1,481 7,678 1,681 6,501 3,852,472 1,326 3,871,139 Business combination — — — — — 41 41 Write-offs (81 ) (36,189 ) (123,980 ) (758 ) — (86,027 ) (247,035 ) Transfers 416,859 538,179 1,140,723 1,378,132 (3,412,132 ) 14,700 76,461 Exchange differences 5,662 7,712 — — 139 3,646 17,159 Balance as of December 31, 2021 2,001,165 1,974,614 7,738,889 8,755,001 3,244,653 441,742 24,156,064 Business combination (Note 8.3 310,730 227,257 — — 133,474 163,427 834,888 Additions 5,442 12,208 772 11,120 3,387,758 — 3,417,300 Write-offs (3,368 ) (15,368 ) (61,536 ) (52 ) (9,024 ) (52,056 ) (141,404 ) Transfers (ii) 182,504 141,379 316,211 1,650,431 (2,419,014 ) 30,668 (97,821 ) Exchange differences 35,544 131,160 — — 684 142,215 309,603 Write-off due to sale of investment (396,614 ) (528,452 ) — — (23,444 ) (5,043 ) (953,553 ) Balance as of December 31, 2022 2,135,403 1,942,798 7,994,336 10,416,500 4,315,087 720,953 27,525,077 Depreciation amount Balance as of January 1, 2021 (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 ) Write-offs 3,922 35,165 112,362 196 — 82,574 234,219 Transfers (20,891 ) 21,190 59,284 (14,569 ) — (242 ) 44,772 Exchange differences (2,645 ) (4,331 ) — — — (1,949 ) (8,925 ) Balance as of December 31, 2021 (618,618 ) (882,542 ) (2,842,050 ) (3,115,641 ) (13,379 ) (35,281 ) (7,507,511 ) Additions (73,712 ) (187,599 ) (566,999 ) (670,921 ) — (66,064 ) (1,565,295 ) Write-offs — 8,170 51,591 8 — 53,031 112,800 Transfers (ii) (16,135 ) 26,732 139 23,931 — (514 ) 34,153 Exchange differences (22,244 ) (120,943 ) — — — (127,215 ) (270,402 ) Write-off due to sale of investment 208,661 406,945 — — — 4,008 619,614 Balance as of December 31, 2022 (522,048 ) (749,237 ) (3,357,319 ) (3,762,623 ) (13,379 ) (172,035 ) (8,576,641 ) Balance as of December 31, 2021 1,382,547 1,092,072 4,896,839 5,639,360 3,231,274 406,461 16,648,553 Balance as of December 31, 2022 1,613,355 1,193,561 4,637,017 6,653,877 4,301,708 548,918 18,948,436 (i) As of December 31, 2022, wagons and locomotives worth R$ 745,203 (R$ 745,203 as of December 31, 2021) were pledged as collateral for bank loans. (ii) Transfers of fixed assets resulting from capitalization and other reclassifications of those assets. |
Summary Intangible Assets and Goodwill | Goodwill Concession Right Licenses Brands and patents Customer Relationships Others Total Cost Balance as of January 1, 2021 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 Write-offs (224 ) (169,815 ) — — (44 ) (3,146 ) (173,229 ) Transfers — 1,109,131 (92,447 ) 9,201 (786 ) 140,253 1,165,352 Exchange differences 19,625 — — 3,232 24,481 3,361 50,699 Balance as of December 31, 2021 1,132,817 19,616,524 379,182 66,640 1,604,067 509,053 23,308,283 Additions 10,031 — 2,605 — 113,497 16,622 142,755 Business combination (Note 8.3 402,055 2,508,558 436,594 98,382 1,062,832 388 4,508,809 Write-offs — (57,723 ) — — (19 ) 579 (57,163 ) Transfers (i) — 837,788 (1,911 ) — (6 ) 61,295 897,166 Exchange differences (21,909 ) — 771 (1,099 ) 47,613 (2,110 ) 23,266 Write-off due to sale of investment (62,922 ) (5,403 ) (317,148 ) — — (26,169 ) (411,642 ) Balance as of December 31, 2022 1,460,072 22,899,744 500,093 163,923 2,827,984 559,658 28,411,474 Amortization amount Balance as of January 1, 2021 — (3,357,779 ) (247,896 ) — (905,032 ) (227,265 ) (4,737,972 ) Additions — (588,411 ) (11,838 ) — (116,860 ) (38,524 ) (755,633 ) Write-offs — 152,236 — — 114 3,828 156,178 Transfers — (116,305 ) 92,447 (9,201 ) 533 (146,481 ) (179,007 ) Exchange differences — — — — (7,363 ) (2,988 ) (10,351 ) Balance as of December 31, 2021 — (3,910,259 ) (167,287 ) (9,201 ) (1,028,608 ) (411,430 ) (5,526,785 ) Additions — (773,765 ) (8,879 ) — (164,843 ) (35,667 ) (983,154 ) Write-offs — 25,658 — — 1 (155 ) 25,504 Transfers (i) — — — — — (60 ) (60 ) Exchange differences — — (771 ) — 22,956 (2,838 ) 19,347 Write-off due to sale of investment — 5,403 157,743 — — 12,470 175,616 Balance as of December 31, 2022 — (4,652,963 ) (19,194 ) (9,201 ) (1,170,494 ) (437,680 ) (6,289,532 ) Balance as of December 31, 2021 1,132,817 15,706,265 211,895 57,439 575,459 97,623 17,781,498 Balance as of December 31, 2022 1,460,072 18,246,781 480,899 154,722 1,657,490 121,978 22,121,942 (i) The total of transfers also includes R$ 35,057 |
Summary Intangible Assets (Excluding Goodwill) | Intangible assets (except goodwill) Annual amortization rate December 31, 2022 December 31, 2021 Concession rights Compass (i) During the concession period and extension 11,614,163 8,953,495 Rumo (ii) 1.59% 6,632,618 6,752,770 18,246,781 15,706,265 Licenses Port operation license 3.70% 44,305 211,895 Licenses and authorizations (iii) Indefinite 436,594 — 480,899 211,895 Brands and patents: Comma Indefinite 47,929 57,439 PetroChoice (iii) Indefinite 104,354 — Tirreno (iii) Indefinite 2,439 — 154,722 57,439 Customer relationships: Compass 20.00% 285,423 276,811 Moove (iii) 5% to 30% 1,367,493 297,286 Others 20.00% 4,574 1,362 1,657,490 575,459 Others Software license 20.00% 65,108 46,770 Others 20.00% 56,870 50,853 121,978 97,623 Total 20,661,870 16,648,681 (i) Intangible assets of the public gas distribution service concession, representing the right to charge users for the supply of gas, consisting of: (i) concession rights recognized in the business combination and (ii) concession assets; (ii) Refers to the railway concession contract held by . The amount will be amortized until 2079 (iii) Authorization for: (i) installation of port terminal activities; and operation of the port facility by the subsidiary TUP Porto , (ii) lubrication and contamination control solutions, (iii) production and sale of lubricating oils, additives and fluids. See Note 8.3 |
Summary of combined carrying amounts of goodwill allocated to each cash-generating | Below we show the carrying amount of goodwill and intangible assets with indefinite useful lives allocated to each of the cash generating units: December 31, 2022 December 31, 2021 Goodwill Brands and patents Licenses and authorizations Goodwill Brands and patents Cash generating unit Moove 1,296,266 154,722 — 916,742 57,439 Cash generating unit Compass 100,192 — — 94,891 — Cash generating unit Rumo 37,529 — — 100,451 — Cash generating unit Cosan investimentos 26,085 — 436,594 20,733 — 1,460,072 154,722 436,594 1,132,817 57,439 |
Summary of assumptions used for annual impairment test | The annual impairment test utilized the following assumptions: Premises % Yearly Risk-free rate (T-Note 10 3.50% Inflation (BR) 3.87% Inflation (US) 2.30% Inflation (UK) 2.56% Country risk premium (BR) 5.19% Country risk premium (UK) 1.03% Country risk premium (ARG) 20.71% Market risk premium 5.11% 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 based on their acquisition cost, which includes capitalized borrowing costs. The depreciable amounts in the concession contract are transferred to intangible assets when the assets are put into operation. The useful life is reassessed whenever this assessment reveals that the amortization period will exceed the term of the concession agreement, a portion of the asset is converted into a financial asset because it represents a receivable from the granting authority. This classification follows IFRI C 12 - Concession Agreements. Compass Moove Total Cost value: Balance as of December 31, 2020 686,690 9,248 695,938 Additions 1,020,176 37,203 1,057,379 Write-offs — (25,439 ) (25,439 ) Transfer to intangible assets (i) (1,021,896 ) — (1,021,896 ) Balance as of December 31, 2021 684,970 21.012 705,982 Additions 1,217,818 10,823 1,228,641 Write-offs — (25,156 ) (25,156 ) Business combination (Note 8.3 87,735 — 87,735 Transfer to intangible assets (i) (880,188 ) 1,701 (878,487 ) Balance as of December 31, 2022 1,110,335 8,380 1,118,715 (i) Included in the amount of transfers is a portion of the intangible asset that was reclassified as a financial asset. |
Summary of transaction charts of right of use assets | Land, buildings and improvements Machines, equipment and installations Wagons and locomotives Software Vehicles Railway and port infrastructure Total Cost: Balance as of January 1, 2021 380,828 39,122 933,325 82,369 13,925 7,462,368 8,911,937 Business combination 3,240 — — — — — 3,240 Additions 73,039 47,554 43 — 15,219 15,108 150,963 Contractual readjustments 41,663 48,784 5,242 4,659 41 330,312 430,701 Write-offs (12,121 ) (2,836 ) — — — — (14,957 ) Transfers (233,296 ) 7,264 — — — (7,475 ) (233,507 ) Exchange differences 1,530 2,561 — — (86 ) — 4,005 Balance as of December 31, 2021 254,883 142,449 938,610 87,028 29,099 7,800,313 9,252,382 Business combination (Note 8.3 116,919 2,693 — — 43 — 119,655 Additions 91,799 73,317 1,006 — 4,561 111,457 282,140 Contractual readjustments 9,008 52,972 3,480 (1,079 ) 1,540 155,734 221,655 Write-offs (24,005 ) (724 ) — — (218 ) (106,363 ) (131,310 ) Exchange differences 5,114 (2,237 ) — — (282 ) — 2,595 Balance as of December 31, 2022 453,718 268,470 943,096 85,949 34,743 7,961,141 9,747,117 Amortization amount: Balance as of January 1, 2021 (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 Write-offs 3,880 2,229 — — — — 6,109 Exchange differences (265 ) (1,506 ) — — 35 — (1,736 ) Balance as of December 31, 2021 (67,919 ) (29,258 ) (399,218 ) (16,959 ) (15,125 ) (776,636 ) (1,305,115 ) Additions (65,254 ) (81,349 ) (34,990 ) (4,015 ) (7,713 ) (267,094 ) (460,415 ) Write-offs 6,099 710 — — 943 20,535 28,287 Exchange differences 1,577 1,246 — — 172 — 2,995 Balance as of December 31, 2022 (125,497 ) (108,651 ) (434,208 ) (20,974 ) (21,723 ) (1,023,195 ) (1,734,248 ) Balance as of December 31, 2021 186,964 113,191 539,392 70,069 13,974 7,023,677 7,947,267 Balance as of December 31, 2022 328,221 159,819 508,888 64,975 13,020 6,937,946 8,012,869 |
Summary of balances of investment properties including properties held for sale | The balances of investment properties are shown below: Investment Properties Properties held for sale Total Balance as of January 1, 2021 — — — Business combination 3,875,752 — 3,875,752 Changes to the fair value of investment properties 17,116 — 17,116 Others (6,172 ) — (6,172 ) Balance as of December 31, 2021 3,886,696 — 3,886,696 Changes to the fair value of investment properties 1,311,691 — 1,311,691 Business combination (Note 8.3 9,209,626 268,385 9,478,011 Additions 17,477 — 17,477 Transfers (322,430 ) 322,430 — Sale of agricultural properties intended for sale — (550,432 ) (550,432 ) Balance as of December 31, 2022 14,103,060 40,383 14,143,443 Current — 40,383 40,383 Non-current 14,103,060 — 14,103,060 14,103,060 40,383 14,143,443 |
CONCESSIONS PAYABLE (Tables)
CONCESSIONS PAYABLE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
CONCESSIONS PAYABLE | |
Summary of Concessions Payable | December 31, 2022 December 31, 2021 Disputed lease and concession: Rumo Malha Paulista S.A. 37,842 55,170 Rumo Malha Oeste S.A. 1,957,149 1,747,233 1,994,991 1,802,403 Lease installment: Rumo Malha Paulista S.A. 1,138,076 1,145,450 1,138,076 1,145,450 Concessions and grants: Rumo Malha Sul S.A. 81,112 85,713 Rumo Malha Paulista S.A. 118,655 20,682 Rumo Malha Central S.A. 18,576 - 218,343 106,395 Total 3,351,410 3,054,248 Current 256,759 160,771 Non-current 3,094,651 2,893,477 3,351,410 3,054,248 |
Schedule of leases and grants related to concession payable | b) Leases and grants within the scope of IFRS 16 December 31, 2022 December 31, 2021 Leases: Rumo Malha Sul 542,996 623,155 Rumo Malha Paulista 539,900 508,169 Rumo Malha Oeste 185,324 216,101 Elevações Portuárias — 97,046 Portofer Transporte Ferroviário Ltda. 11,658 13,921 1,279,878 1,458,392 Grants: Rumo Malha Paulista (renewal) 732,727 590,594 Malha Central 792,374 614,410 1,525,101 1,205,004 Total 2,804,979 2,663,396 Current 350,719 274,774 Non-current 2,454,260 2,388,622 2,804,979 2,663,396 |
OTHER TAXES PAYABLE (Tables)
OTHER TAXES PAYABLE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
OTHER TAXES PAYABLE | |
Summary of Other Tax Payable | December 31, 2022 December 31, 2021 Tax debts installments 208,760 200,664 ICMS 271,688 278,351 COFINS 246,501 88,214 PIS 43,524 15,082 Social Security charges 42,186 34,215 IRRF 14,553 11,024 Others 86,517 55,559 913,729 683,109 Current 760,041 536,220 Non-current 153,688 146,889 913,729 683,109 |
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, 2022 December 31, 2021 from 13 24 2,255 4,370 from 25 36 656 1514 from 37 48 656 716 from 49 60 656 716 over 60 149,465 139,573 153,688 146,889 |
INCOME TAX AND SOCIAL CONTRIB_2
INCOME TAX AND SOCIAL CONTRIBUTION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
INCOME TAX AND SOCIAL CONTRIBUTION | |
Schedule of Reconciliation of Income and Social Contribution Tax Expenses | a) I ncome tax and social contribution expenses reconciliation December 31, 2022 December 31, 2021 December 31, 2020 Profit before taxes 2,702,471 6,250,876 1,990,961 Income tax and social contribution nominal rate (34%) (918,840 ) (2,125,298 ) (676,927 ) Adjustments to determine the effective rate Interest in earnings of investees (non-taxable income) ( i ) 139,185 1,734,883 207,940 Differences in tax rates on earnings from operating profit (vii) (16,973 ) 55,910 19,793 Granted income tax incentive 197,307 199,687 109,081 Share-based payment transactions (73 ) 450 9,941 Interest on shareholders’ equity (26,058 ) (72,804 ) (24,773 ) Non-deductible expenses (donations, gifts, etc.) (13,788 ) (28,061 ) (4,183 ) Tax losses not recorded (228,579 ) (203,809 ) (170,017 ) ICMS benefit - extemporaneous tax credits (ii) 345,067 290,745 — ICMS benefit - current period (iii) 242,694 118,107 — Rate difference 446,293 5,577 — Amortization of the effects on formation of joint venture (iv) — 402,571 — Goodwill amortization effect 1,271 1,271 1,271 Other (v) (71,205 ) 66,355 25,207 Selic on indebtedness (vi) 22,103 — — Income tax and social contribution - current and deferred 118,404 445,584 (502,667 ) Effective rate (4.38 ) % (7.13 ) % 25.25 % (i) Equity income of R$129,792 represents the amortization of Raízen's capital gain, which is considered a temporary difference. (ii) During the year ended December 31, 2022, the indirect subsidiary Comgás recognized an extemporaneous credit in the amount of R$ 272,593 (R$240,251 principal and R$32,342 interest), used to offset against income tax, social contribution, PIS and COFINS payable overdue in the year, related to overpayments of income tax and social contribution, due to the non-taxation of the benefit of reducing the ICMS tax base in the State of São Paulo from 12% to 15% pursuant to art. 8 45,900 62,399 2016 2017 2018 2019 (iii) Beginning January 1, 2021, the subsidiary Comgás changed its tax procedure by excluding the benefit of reduction in the ICMS calculation base, granted by the State of São Paulo, directly from the calculation of Income tax and social contribution for the current year. (iv) Reversal of deferred income tax and social contribution obligations on the amortization of capital gains due to the gain recorded in the formation of Raízen. (v) During the year ended December 31, 2021, the Company reversed deferred Income tax and social contribution totaling R$284,738 on put interest option in the investment operation involving Cosan Investimentos e Participações S.A. and the banks which are preferred shareholders, due to the liquidation of the put option. (vi) Considering the effects of STF’s judgement on case RE No. 1,063,187 2022 (vii) Earnings from operating profit from overseas companies |
Summary of Deferred Income Tax Assets and Liabilities | b) Deferred income tax assets and liabilities Below are presented the tax effects of temporary differences that give rise to significant parts of the Company's deferred tax assets and liabilities: December 31, 2022 December 31, 2021 Deferred tax assets from: Income tax losses 2,244,654 1,739,847 Negative base of social contribution 809,556 627,860 Temporary differences Foreign exchange variation - Loans and financing 1,701,529 1,667,500 Provision for lawsuits 204,303 222,454 Impairment provision (Rumo Malha Oeste) 34,469 34,704 Post-employment benefit obligation 152,373 160,082 Provisions for uncertain tax credits and tax losses 31,880 21,747 Provision for non-recoverability of taxes 70,815 67,760 Share-based payment transactions 82,480 50,114 Lease 167,962 189,890 Unrealized loss with derivatives 674,554 — Provisions for profit sharing 124,833 98,224 Business combination – fixed assets 36,535 24,318 Business combination – intangible assets 119,060 111,590 Selic on indebtedness 100,264 100,369 Other temporary differences 581,059 342,307 Other 507,151 232,647 Total 7,643,477 5,691,413 Deferred tax liabilities from: Temporary differences Useful life review (401,926 ) (350,110 ) Business combination – fixed assets (76,263 ) (40,294 ) Tax goodwill (359,100 ) (397,239 ) Unrealized income with derivatives (226,243 ) (1,028,058 ) Fair value adjustment on debts (548,726 ) (126,174 ) Marketable securities (1,150,916 ) (62,593 ) Investment properties (391,382 ) (100,197 ) Capitalized interest (108,616 ) (44,563 ) Effects on the formation of joint venture (106,254 ) (602,673 ) Business combination - fixed/intangible assets (4,486,211 ) (3,492,345 ) Post-employment obligations (4,594 ) — Lease (11,797 ) (3,219 ) Provisions (79,092 ) (11,427 ) Other (687,601 ) (198,949 ) Total (8,638,721 ) (6,457,841 ) Total deferred taxes recorded (995,244 ) (766,428 ) Deferred tax assets 4,474,124 3,051,628 Deferred tax liabilities (5,469,368 ) (3,818,056 ) Total deferred, net (995,244 ) (766,428 ) |
Summary of Changes in Deferred Tax | c) Changes in deferred income tax Assets: Tax loss and negative basis Post-employment benefit obligations Employee benefits Provisions Property plant and equipment Unrealized income with derivatives Leases Intangible Unregistered credits Others Total Balance as of January 1, 2021 3,503,692 200,461 60,209 996,530 399,537 — — — ( ) 2,372,324 5,213,755 Credited / charged from income for the year 565,197 (12,737 ) 101,836 93,396 (433,371 ) — — — ( ) (1,642,143 ) (1,491,712 ) Other comprehensive results — (27,642 ) — — — — — — ( ) 20,035 (7,754 ) Recognized in shareholders' equity 5,878 — — 68 — — — — — 4,267 10,213 Business combination 44 — — (10,129 ) (19,513 ) — — — — — (29,598 ) Foreign exchange differences — — — — — — — — — 1,213,324 1,213,324 Transference ( ) — ( ) ( ) 53,347 — 189,890 111,590 2,483,035 57,027 783,185 Balance as of December 31, 2021 2,367,707 160,082 148,338 688,972 — — 189,890 111,590 — 2,024,834 5,691,413 Credited / charged from income for the year 686,503 (7,709 ) 58,975 233,554 — 674,554 (21,928 ) 7,470 — 299,687 1,931,106 Recognized in shareholders' equity — — — — — — — — — (13,071 ) (13,071 ) Foreign exchange differences — — — — — — — — — 34,029 34,029 Balance as of December 31, 2022 3,054,210 152,373 207,313 922,526 — 674,554 167,962 119,060 — 2,345,479 7,643,477 Liabilities: Effects on the formation of joint venture Post-employment obligation Intangible Unrealized income with derivatives Property, plant and equipment Lease Debt fair value adjustment Provisions Others Total Balance as of January 1, 2021 (1,135,036 ) — (3,603,568 ) (2,206,216 ) — (25,459 ) 526,002 — (560,369 ) (7,004,646 ) Credited / charged from income for the year 466,528 — 51,732 1,063,297 — 456,858 (653,320 ) — 126,479 1,511,574 Other comprehensive results — — — 108,546 — 230 — — (127,076 ) ( 18,300 ) Business combination — — — — — — — — ( 163,284 ) (163,284 ) Transference 65,835 — 59,491 6,315 ( ) ( ) 1,144 ( ) ( ) ( ) Balance as of December 31, 2021 (602,673 ) — (3,492,345 ) (1,028,058 ) (350,110 ) (3,219 ) (126,174 ) (11,427 ) (843,835 ) (6,457,841 ) Credited / charged from income for the year 496,419 (4,594 ) 369,455 807,391 (51,816 ) (8,578 ) (355,946 ) (67,665 ) (1,784,407 ) (599,741 ) Other comprehensive results — — — (5,576 ) — — — — (1,469 ) (7,045 ) Business combination (Note 8.3 — — (1,363,321 ) — — — (66,606 ) — (144,167 ) (1,574,094 ) Balance as of December 31, 2022 (106,254 ) (4,594 ) (4,486,211 ) (226,243 ) (401,926 ) (11,797 ) (548,726 ) (79,092 ) (2,773,878 ) (8,638,721 ) Total deferred taxes recognized (995,244 ) |
Schedule of estimate of tax credit realization | December 31, 2022 within 1 273,887 1 2 216,750 2 3 644,339 3 4 623,869 4 5 982,785 5 8 1,119,631 8 10 612,863 Total 4,474,124 |
PROVISION FOR LEGAL PROCEEDIN_2
PROVISION FOR LEGAL PROCEEDINGS AND JUDICIAL DEPOSITS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
PROVISION FOR LEGAL PROCEEDINGS AND JUDICIAL DEPOSITS | |
Summary of Contingent Liabilities | As of December 31, 2022 and December 31, 2021, the Company had contingent liabilities and judicial deposits pertaining to: Provision for lawsuits December 31, 2022 December 31, 2021 Tax 747,647 647,610 Civil, environmental and regulatory 662,052 585,034 Labor 391,487 411,417 1,801,186 1,644,061 Judicial deposits December 31, 2022 December 31, 2021 Tax 585,988 500,484 Civil, environmental and regulatory 92,411 169,857 Labor 136,045 252,720 814,444 923,061 |
Summary Changes in Provision for Legal Procedings | Changes in provision for lawsuits: Tax Civil, environmental and regulatory Labor Total Balance as of January 1, 2021 635,406 350,769 374,723 1,360,898 Provisioned in the year 24,559 103,805 114,596 242,960 Write-offs by reversal / payment (15,331 ) (56,931 ) (117,238 ) (189,500 ) Interest (i) 2,976 187,391 39,336 229,703 Balance as of December 31, 2021 647,610 585,034 411,417 1,644,061 Provisioned in the year 71,063 159,758 153,789 384,610 Write-offs by reversal / payment (56,447 ) (238,912 ) (225,044 ) (520,403 ) Conversion effect 3,994 15,786 52 19,832 Interest (i) 81,427 140,386 51,273 273,086 Balance as of December 31, 2022 747,647 662,052 391,487 1,801,186 (i) Includes write-off of interest due to reversals. |
Summary of Principal Tax Proceedings for Which Risk of Loss is Probable | The main tax proceedings for which the risk of loss is probable are described below: December 31, 2022 December 31, 2021 Compensation with FINSOCIAL (i) 312,721 300,470 INSS (ii) 98,657 97,847 ICMS credit (iii) 125,723 85,965 PIS and COFINS 30,446 28,427 IPI 60,852 43,461 Income tax and social contribution 11,676 8,553 Others 107,572 82,887 747,647 647,610 (i) Compensation of FINSOCIAL with federal taxes, based on a September 2003 final and non-appealable court ruling in the case records where the constitutionality of FINSOCIAL was discussed. Compensation of taxes remains a topic of administrative discussion. (ii) Amount provisioned as INSS, the majority of which is comprised of amounts related to social security contributions levied on billing in accordance with article 22 -A of Law 8.212 / 91 , the constitutionality of which is being litigated. The amounts are deposited with the court. The leading case, RE 611.601 (item 281 ), is being decided by the Federal Supreme Court. (iii) ICMS required by the State of São Paulo as a result of disallowances of diesel oil credits utilized in agro-industrial production. The stay of execution was overturned, as were the subsequent appeals. |
Summary of Principal Proceedings for Which Deem Risk of Loss as Possible | The main lawsuits for which we anticipate a risk of loss as possible are outlined below: December 31, 2022 December 31, 2021 Tax 16,079,589 14,647,917 Civil, environmental and regulatory 6,597,105 6,939,743 Labor 782,080 859,830 23,458,774 22,447,490 Civil, environmental and regulatory: December 31, 2022 December 31, 2021 Civil (i)(ii)(vi)(vii)(ix)(x) 3,336,284 4,221,797 Environmental (iv) 1,764,671 1,472,542 Regulatory (iii)(v)(viii) 1,496,150 1,245,404 6,597,105 6,939,743 Several civil, environmental, and regulatory judicial and administrative proceedings involving the Company and its subsidiaries present a potential for loss. The majority of civil litigation consists of contractual and extracontractual claims for damages. In the environmental realm, the processes involve commitment terms, civil investigations, and public civil actions. Regarding cases involving substantial sums, the following are the most pertinent: (i) Upon assuming the business activities of another Company that does not belong to the Group, the indirect subsidiary S.A. assumed responsibility for the R$ 192,470 15,000 for reimbursement based on this obligation. A provision of R$ 18,422 (ii) Rumo is a party to the execution of a conduct adjustment term signed with the Federal Prosecutor’s Office, in which the latter alleges that was not transporting cargo in the region and, as a result, required the execution of a daily fine and an increase in the fine amount. The total amount of the case's contingency account is R$118,068; 50% of the amount is provisioned and the remainder is categorized as possible. (iii) Rumo is a defendant in a lawsuit filed by the former Federal S.A., which has since been succeeded by the Federal Government, in which the latter seeks the conviction of the indirect subsidiary for alleged damages resulting from the deactivation of the electrical transmission network. A verdict is awaited. A verdict is awaited. The demand is categorized as probable, with a current value of R$328,626. (iv) Rumo , along with the Municipality of and others, is a defendant in a public civil action in which the MPF alleges a lack of structure for level crossings along the municipalities of the subsection, as well as indiscriminate horn use. Risk estimated at R$130,349. (v) The subsidiary was served in the Public Civil Action that seeks compensation for the environmental contamination that occurred in the former area of the de last year. Several have been filed against various businesses, and the initial amount assigned by the Public Ministry is R$288,000. We have filed an answer demonstrating that the subsidiary did not utilize the landfill in question, and we are currently awaiting a ruling on the merits. (vi) The Company is a defendant in a claim for the collection of legal fees filed by Alexandre and others, in which they seek that the Company and other defendants be sentenced to the payment of alleged legal fees that would be owed to the plaintiffs and total close to R$280,000. The lawsuit is awaiting the verdict of the Plaintiffs' Appeal and the Company's Adhesive Appeal ( ) in order to increase the conviction in fees borne by the losing party. (vii) The subsidiary is a defendant in a lawsuit filed by Petroleum e , which seeks to hold the Company liable for material damages, loss of profits, and fines for contract breach. The total amount involved in this lawsuit is R$134,000. A first instance verdict on the merits is awaited. (viii) The Brazilian Institute of Environment and Natural Resources ( do e dos - IBAMA) fined in 2013 (ix) IBAMA fined in 2014 2015 (x) In November 2021, the Administrative Council for Economic Defense ( de – CADE), in the administrative proceeding brought on behalf of a former client, among other things, sentenced to pay a fine in the updated amount of R$291,767, a decision which was upheld in the judgment of the motion for clarification. Such amount is inconsistent with own precedents. considers the risk of loss of R$26,842 to be probable, based on the technical analysis of its external legal team, and classifies the difference as a possible contingency. Currently, a decision is pending on the indirect subsidiary's appeal in the lawsuit to annul the notice of infraction. (xi) Rumo filed a lawsuit against ANTT to prevent enrollment in CADIN on the basis of alleged unpaid quarterly installments of the concession contract due to compensation made with labor debts owed by the defunct Federal S.A. A favorable decision was rendered in favor of , prohibiting enrollment in CADIN and stating that the compensation of amounts could be carried out. For administrative compensation, a survey of credits and debits is pending at this time. The total amount is R$127,820. Tax December 31, 2022 December 31, 2021 Isolated fine - Federal taxes (i) 762,613 461,747 Income tax and social contribution (ii) 6,297,550 5,404,264 ICMS - Tax on circulation of goods (iii) 2,987,853 2,877,144 IRRF (iv) 1,366,268 1,251,394 PIS and COFINS (v) 2,556,050 2,368,123 MP 470 (vi) 388,166 398,184 Stock Grant Plan 68,846 65,260 IOF on loans (vii) 149,323 136,286 Reward Credit Compensation (viii) 138,753 186,048 IPI - Tax on industrialized products (ix) 374,274 492,025 INSS 161,037 180,533 Others 828,856 826,909 16,079,589 14,647,917 (i) Disregard of the REPORTO tax benefits, resulting in the application of a fine equal to 50% of the value of the acquired goods. (ii) Infraction notices and lawsuits have been issued by the Special Department of Federal Revenue of Brazil ( Especial da Federal do ) regarding (a) disallowance of amortization of goodwill expenses based on future profitability resulting from corporate operations; (b) capital gains on the sale of an equity interest; (c) labor provisions; and (d) still, there are infraction notices issued by the Federal Revenue Service in 2011 2013 2019 (iii) The ICMS lawsuits primarily concern (a) the disallowance of ICMS credits related to the acquisition of diesel oil, goods supposedly classified as use and consumption, and suppliers whose state registrations were revoked, among others; (b) proof of delivery of goods sold with FOB clause; (c) ICMS on transport services for export; and (c) divergence in the application of legislation governing operations with tax substitution. (iv) Collection of IRRF on (a) alleged capital gain from the acquisition of foreign companies and (b) disallowance of IRRF compensation on swap transactions. (v) Disallowances of PIS and COFINS credits calculated in the non-cumulative system as a result of divergence in the definition of inputs. (vi) Applications for the payment in installment of federal tax debts are partially denied by the Special Department of Federal Revenue of Brazil due to insufficient tax losses to settle the respective debts. (vii) IOF charges related primarily to (a) current accounts maintained by the Company's subsidiaries and (b) financial transactions between group companies. (viii) Offset statements via the PERD/COMP electronic system that reference "premium credit" are considered as not declared by the Special Department of Federal Revenue of Brazil. (ix) Collection of IPI credits disallowed for the purchase of raw materials used in the production of immune products. |
SHAREHOLDERS EQUITY (Tables)
SHAREHOLDERS EQUITY (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
SHAREHOLDERS’ EQUITY | |
Summary of Share Capital | Ordinary actions Shareholding structure Amount % Controlling shareholders 672,312,942 35.87% Board of directors and executive officers 26,115,335 1.39% Free float 1,168,209,823 62.34% Outstanding shares 1,866,638,100 99.60% Treasury shares 7,432,832 0.40% Total 1,874,070,932 100.00% |
Schedule of dividend payable | December 31, 2022 Net income for the year 1,176,032 Constitution of the legal reserve – 5% (58,802 ) Calculation basis for distribution of dividends 1,117,230 Mandatory minimum dividends – 25% (279,308 ) Statutory reserve 837,922 Movement of dividends payable Balance as of January 1, 2021 1,413,222 Dividends for the current year 2,031,301 Dividends paid/offset (2,644,889 ) Balance as of December 31, 2021 799,634 Dividends for the current year 1,237,779 Dividends paid/offset (1,145,407 ) Balance as of December 31, 2022 892,006 |
Schedule of dividend receivable | ii. Receivable Investments in associates Investment in joint venture Total Balance as of December 31, 2020 3,261 77,494 80,755 Proposed dividends 15,786 1,070,201 1,085,987 Proposed interest on own capital — 189,378 189,378 Dividends received (16,426 ) (819,729 ) (836,155 ) Balance as of December 31, 2021 2,621 517,344 519,965 Proposed dividends 278,654 549,883 828,537 Interest on proposed equity — 107,544 107,544 Business combination (Note 8.3 202,968 — 202,968 Dividends received (323,096 ) (1,174,771 ) (1,497,867 ) Balance as of December 31, 2022 161,147 — 161,147 |
Summary of Other Comprehensive (Loss) Income | f) Other comprehensive (loss) income December 31, 2021 Comprehensive (loss) income December 31, 2022 Loss on cash flow hedge (1,917,917 ) 556,022 (1,361,895 ) Foreign currency translation differences 96,362 1,914,552 2,010,914 Actuarial loss on defined benefit plan (266,574 ) 46,911 (219,663 ) Deferred tax on actuarial losses of defined benefit plan 90,635 (15,950 ) 74,685 Gain on measurement of financial instrument 15,000 (60,631 ) (45,631 ) Change in fair value of financial assets 5,794 71,358 77,152 Deferred tax on change in the fair value of a financial asset (1,970 ) (24,262 ) (26,232 ) Predecessor adjustment 1,381,798 (1,381,798 ) — (596,872 ) 1,106,202 509,330 Attributable to: Owners of the Company (521,609 ) 1,089,155 567,546 Non-controlling interests (75,263 ) 17,047 (58,216 ) 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 (329,956 ) 63,382 (266,574 ) Deferred tax on actuarial losses of defined benefit plan 112,185 (21,550 ) 90,635 Gain on measurement of financial instrument 15,000 — 15,000 Change in fair value of financial assets 2,356 3,438 5,794 Deferred tax on change in the fair value of a financial asset (801 ) ( 1,169 ) (1,970 ) Predecessor adjustment — 1,381,798 1,381,798 (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 ) |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
EARNINGS PER SHARE | |
Summary of Calculation of Earnings per Share | December 31, 2022 December 31, 2021 December 31, 2020 Income attributable to holders of common shares of Company used in calculating basic earnings per share 1,176,032 6,312,140 859,482 Diluting effect of the share-based plan of subsidiaries (1,739 ) (5,249 ) (5,739 ) Income attributable to holders of common shares of Company used in the calculation of diluted earnings per share 1,174,293 6,306,891 853,743 Weighted average number of common shares outstanding - (in thousands of shares) Basic 1,869,077 1,834,533 1,834,533 Dilutive effect of the share-based plan 5,503 4,687 6,741 Diluted 1,874,580 1,839,220 1,841,274 Earnings per share Basic R$0.6292 R$3.4407 R$0.4685 Diluted R$0.6264 R$3.4291 R$0.4637 |
NET SALES (Tables)
NET SALES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
NET SALES | |
Analysis of Revenue from Continuing Operations | December 31, 2022 December 31, 2021 December 31, 2020 Gross revenue from sales of products and services 46,391,989 30,317,755 24,040,536 Construction revenue 1,217,818 1,020,176 885,630 Indirect taxes and deductions (7,872,439 ) (5,472,930 ) (4,488,331 ) Net sales 39,737,368 25,865,001 20,437,835 |
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, 2022 December 31, 2021 December 31, 2020 At a point in time Natural gas distribution 18,268,994 10,447,312 7,372,957 Electricity trading 238,544 620,495 775,479 Lubricants and base oil 8,690,659 5,546,093 4,283,704 Leasing and sale of properties 834,616 — — Other 418,847 277,571 59,923 28,451,660 16,891,471 12,492,063 Over time Railroad transportation services 9,503,965 7,103,706 6,680,307 Port elevation 337,543 335,965 285,852 Construction revenue 1,217,818 1,020,176 885,630 Services rendered 289,418 566,364 131,871 11,348,744 9,026,211 7,983,660 Elimination (63,036 ) (52,681 ) (37,888 ) Total 39,737,368 25,865,001 20,437,835 |
COSTS AND EXPENSES BY NATURE (T
COSTS AND EXPENSES BY NATURE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
COSTS AND EXPENSES BY NATURE | |
Summary of Expenses by Nature/Purpose | Expenses are presented in the statement of profit or loss and other comprehensive income by function. The income reconciliation by nature/purpose is as follows: December 31, 2022 December 31, 2021 December 31, 2020 Commodity cost (natural gas) (14,307,087 ) (7,211,545 ) (4,620,647 ) Raw materials (6,588,465 ) (4,631,436 ) (3,289,845 ) Personnel expenses (2,498,912 ) (1,997,881 ) (2,533,429 ) Depreciation and amortization (3,014,480 ) (2,504,384 ) (2,340,854 ) Railroad transportation and port elevation expenses (3,074,624 ) (2,128,043 ) (1,897,975 ) Electricity purchased for resale (260,891 ) (968,503 ) (927,913 ) Construction cost (1,217,818 ) (1,020,176 ) (885,630 ) Other transport (137,255 ) (25,143 ) — Selling expenses (23,505 ) (23,638 ) (23,387 ) Expenses with third-party services (888,195 ) (751,486 ) — Cost of properties sold (Note 10.5 (550,432 ) — — Other (1,444,083 ) (897,789 ) (731,869 ) (34,005,747 ) (22,160,024 ) (17,251,549 ) Cost of sales (30,753,137 ) (19,864,248 ) (14,999,823 ) Selling expenses (1,276,279 ) (723,419 ) (661,907 ) General and administrative expenses (1,976,331 ) (1,572,357 ) (1,589,819 ) (34,005,747 ) (22,160,024 ) (17,251,549 ) |
OTHER OPERATING INCOME, NET (Ta
OTHER OPERATING INCOME, NET (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
OTHER OPERATING INCOME, NET | |
Summary of Details of Other Expense Income Net | December 31, 2022 December 31, 2021 December 31, 2020 Settlement of disputes in the renewal process (iii) (90,022 ) 9,242 278,496 Tax credits (ii) 114,812 287,049 132,399 Gain (loss) on disposal of non-current assets and intangibles (13,035 ) 7,295 30,610 Gain from bargain purchase (Note 8.3 99,341 416,268 — Reimbursement of natural gas loss in the process — — 26,945 Net effect of provisions for legal proceedings (370,765 ) (263,945 ) (32,704 ) Depreciation of right-of-use assets — — (100,593 ) Disposal of credit rights — — (68,311 ) Change in fair value of investment properties (note 10.5 1,311,691 17,116 — Loss on impairment — — (143,984) Income from the sale of investments (i) 988,077 — — Outcome of judicial settlement (iv) (396,818 ) — — Other 108,941 (90,425 ) 54,011 1,752,222 382,600 176,869 (i) The disposal of 80% of the subsidiary stake in EPSA (see Note 1.2 Additionally, on December 1, 2022, Cosan acquired 25% of the minority interest in Payly Soluces de Pagamentos S.A. ("Payly") for R$87,200, becoming its sole shareholder, and, on the same day, sold all of its equity interest to Raízen S.A., for a finance result of R$32,493. (ii) Extemporaneous credit from the exclusion of ICMS from the PIS and COFINS base (See Note 6 (iii) Additional grant resulting from the annual revisions to the sub-concession contracts of the subsidiary . (iv) On November 22, 2022, the subsidiary signed an agreement to close a confidential arbitration procedure through the acquisition of all the shares of the Company S.A., with whom it was engaged in litigation and which it subsequently merged. The transaction involved a net cash payment of R$51,132 and the assumption of a bank debt totaling R$396,818. |
FINANCE RESULT (Tables)
FINANCE RESULT (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
FINANCE RESULT | |
Summary of financial income and expenses | The details of financial income and expenses are as follows: December 31, 2022 December 31, 2021 December 31, 2020 Cost of gross debt Interest on debt (4,464,754 ) (3,162,853 ) (2,148,322 ) Monetary and exchange rate variation 549,682 (1,069,157 ) (3,253,446 ) Derivatives and fair value measurement (4,203,149 ) 2,193,855 3,918,848 Amortization of borrowing costs (244,344 ) (341,034 ) (58,732 ) Guarantees and warranties (41,505 ) (52,082 ) (56,079 ) (8,404,070 ) (2,431,271 ) (1,597,731 ) Income from financial investment and exchange rate in cash and cash equivalents 1,788,477 600,894 369,690 Changes in fair value of investments in listed entities (i) 3,385,047 — — 5,173,524 600,894 369,690 Cost of debt, net (3,230,546 ) (1,830,377 ) (1,228,041 ) Other charges and monetary variations Interest on other receivables 355,634 411,394 201,060 Monetary variation of other financial assets (1,405 ) (372 ) — Interest on other payables (454,373 ) (424,946 ) (16,293 ) Interest on lease (374,177 ) (407,972 ) (595,482 ) Interest on shareholders' equity 33,134 (8,288 ) (4,959 ) Interest on contingencies and contracts (593,144 ) (315,620 ) (234,368 ) Bank charges and other (145,200 ) (96,983 ) (75,408 ) Foreign exchange, net (747,859 ) 115,607 (30,505 ) (1,927,390 ) (727,180 ) (755,955 ) Finance results, net (5,157,936 ) (2,557,557 ) (1,983,996 ) Reconciliation Finance expense (4,706,535 ) (2,527,506 ) (4,727,561 ) Finance income 5,777,521 1,258,441 407,710 Foreign exchange, net 260,746 (1,099,536 ) (3,258,656 ) Derivatives (6,489,668 ) (188,956 ) 5,594,511 Finance results, net (5,157,936 ) (2,557,557 ) (1,983,996 ) (i) Changes in fair value recognized in profit or loss based on the market value of Vale's shares, as per Note 1.3. |
POST-EMPLOYMENT BENEFIT (Tables
POST-EMPLOYMENT BENEFIT (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
POST-EMPLOYMENT BENEFIT | |
Summary of Post-employment Benefits | December 31, 2022 December 31, 2021 Defined contribution Future II 332 190 Defined benefit Future 127,351 198,761 Health insurance 448,157 470,524 575,840 669,475 |
Summary of Defined Benefit Obligation and Fair Value of Plan Assets | Details of the present value of the defined benefit obligation and the fair value of plan assets are as follows: December 31, 2022 December 31, 2021 December 31, 2020 Actuarial obligation at beginning of the year 1,161,693 1,249,156 1,249,630 Current service cost 219 487 540 Interest on actuarial obligation 98,343 88,299 89,253 Actuarial (gain) loss arising from financial assumptions (88,709 ) (183,159 ) (58,250 ) Actuarial loss (gain) arising from experience adjustment 14,319 77,111 30,267 Cost of past services 319 — — Early settlement in the plan (3,081 ) — — Actuarial loss arising from demographic assumptions — — 14 Benefit payments (85,121 ) (70,201 ) (62,298 ) Actuarial obligation at the end of the year 1,097,982 1,161,693 1,249,156 Fair value of plan assets at the beginning of the year (492,408 ) (520,608 ) (544,988 ) Interest income (42,224 ) (35,809 ) (38,452 ) Return on investments in the year (excluding interest income) 11,405 24,143 34,370 Early settlement in the plan 3,698 — — Employer contributions (87,945 ) (30,336 ) (33,836 ) Benefit payments 85,000 70,202 62,298 Fair value of plan assets at the end of the year (522,474 ) (492,408 ) (520,608 ) Net defined benefit liability 575,508 669,285 728,548 |
Summary of Expense Recognized in Profit or Loss | The total expense recognized in the finance results is as follows: December 31, 2022 December 31, 2021 December 31, 2020 Current service cost (219 ) (487 ) (540 ) Interest on actuarial obligation (56,119 ) (52,490 ) (45,567 ) (56,338 ) (52,977 ) (46,107 ) |
Summary of Amount Recognised as Accumulated Other Comprehensive Income | Total amount recognized as accumulated comprehensive income: December 31, 2022 December 31, 2021 December 31, 2020 Accumulated at the beginning of the year 141,803 59,904 66,305 Actuarial gain (loss) arising from financial assumptions 88,709 183,156 58,250 Actuarial (loss) gain arising from experience adjustment (14,319 ) (77,112 ) (30,267 ) Actuarial loss arising from demographic assumptions — — (14 ) Return on investments in the year (excluding interest income) (11,405 ) (24,145 ) (34,370 ) Accumulated at the end of the year 204,788 141,803 59,904 |
Summary of Plan Assets | The plan’s assets consist of the following: December 31, 2022 December 31, 2021 Value % Value % Fixed income 496,950 95.28% 484,847 99.99% Others 24,618 4.72% 48 0.01% 521,568 100.00% 484,895 100.00% |
Summary of Assumptions to Determine Defined Benefit Obligations | The following are the primary assumptions used to determine the Company's and its subsidiaries' benefit obligations: Future Health insurance December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Discount rate 10.03% 8.64% 10.45% 9.09% Inflation rate 3.50% 3.25% 4.25% 3.50% Future salary increases N/A N/A N/A 6.60% Morbidity (aging factor) N/A N/A 3.00% 3.00% Future pension increases 3.50% 3.25% 3.00% 3.00% Overall mortality (segregated by sex) N/A N/A AT-2000 AT-2000 Disability mortality N/A N/A IAPB-1957 IAPB-1957 Entry into disability (modified) N/A N/A Modified UP-84 Modified UP-84 Turnover N/A N/A 0.60/(service time +1) 0.60/(service time +1) |
Summary of Changes in Discount Rate | Changes in the discount rate to the date of the statement of financial position is one Discount rate Increase Reduction 0.50% (0.50)% Futura (624,936 ) 674,988 Medical plan (21,878 ) 24,079 |
SHARE-BASED PAYMENT (Tables)
SHARE-BASED PAYMENT (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
SHARE-BASED PAYMENT | |
Summary of Share-based payment plan (Equity-settled) | In fiscal year 2022 Program Vesting conditions Cosan - Regular 3 years of service from the grant and achievement of specific metrics that can vary between 0% and 150% (for the calculation of the fair value, the achievement of 100% was considered). Performance actions will have a specific base weight, according to the target established by the Board of Directors. Cosan - Partners 5 years of service from grant. Rumo - Invest 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 3 years of service from the grant date and achievement of specific metrics that can vary between 0% and 150% (for the calculation of the fair value, the achievement of 100% was considered). |
Summary of share-based payment arrangements of share options | Award Type / Award Date Company Life expectancy (years) Grants under plans Exercised / Canceled / Transferred Available Fair value as of grant date - R$ Share grant program 07/31/2018 Cosan S.A. 5 842,408 (107,576 ) 734,832 9.65 7/31/2019 Cosan S.A. 5 229,020 (20,080 ) 208,940 12.46 07/31/2020 Cosan S.A. 5 68,972 (6,704 ) 62,268 20.93 07/31/2021 - Invest I Cosan S.A. 3 424,839 — 424,839 24.38 09/10/2021 - Invest II Cosan S.A. 4 5,283,275 (1,320,820 ) 3,962,455 22.24 10/11/2021 - Invest III Cosan S.A. 5 809,944 — 809,944 23.20 07/31/2022 Cosan S.A. 3 846,506 — 846,506 18.74 11/22/2022 Cosan S.A. 5 377,173 — 377,173 17.14 8,882,137 (1,455,180 ) 7,426,957 7/31/2019 Comgás 4 83,683 (14,794 ) 68,889 79.00 83,683 (14,794 ) 68,889 09/01/2017 Rumo S.A. 5 870,900 (870,900 ) — 10.42 08/01/2018 Rumo S.A. 5 1,149,544 (455,931 ) 693,613 13.94 08/15/2019 Rumo S.A. 5 843,152 (256,757 ) 586,395 22.17 11/11/2020 Rumo S.A. 5 776,142 (208,694 ) 567,448 20.01 05/05/2021 Rumo S.A. 5 1,481,000 (421,875 ) 1,059,125 20.84 09/15/2021 Rumo S.A. 3 1,560,393 (144,611 ) 1,415,782 18.19 09/01/2022 Rumo S.A. 3 1,781,640 (6,416 ) 1,775,224 20.36 09/01/2022 Rumo S.A. - 146,909 — 146,909 20.36 8,609,680 (2,365,184 ) 6,244,496 Share-based compensation plan (settled in cash) 07/31/2019 - Invest Moove 5 132,670 — 132,670 50.79 07/31/2020 - Invest Moove 5 106,952 — 106,952 61.89 07/31/2021 - Invest Moove 3 80,729 — 80,729 102.73 07/31/2022 - Invest Moove 3 77,967 — 77,967 135.05 07/31/2022 - Special Program Moove 4 615,362 — 615,362 50.05 08/01/2021 TRSP 3 38,158 — 38,158 25.46 08/01/2021 Compass Comercialização 3 35,777 — 35,777 25.46 08/01/2021 Compass Gás e Energia 2 173,316 — 173,316 25.46 08/01/2021 Compass Gás e Energia 3 30,205 — 30,205 25.46 11/01/2021 Compass Gás e Energia 3 1,672,626 — 1,672,626 25.46 11/01/2021 Comgás 3 195,414 — 195,414 25.46 02/01/2022 Compass Gás e Energia 3 88,899 — 88,899 25.59 08/01/2022 Compass Gás e Energia 3 826,392 — 826,392 25.59 08/01/2022 Compass Comercialização 3 30,441 — 30,441 25.59 08/01/2022 TRSP 3 31,258 — 31,258 25.59 4,136,166 — 4,136,166 Total 21,711,666 (3,835,158 ) 17,876,508 |
Summary of reconciliation of outstanding share grants | The change in outstanding share grants are as follows: Outstanding shares Balance as of January 1, 2021 10,536,790 Granted 11,531,359 Exercised (6,200,231 ) Canceled (275,407 ) Balance as of December 31, 2021 15,592,511 Granted 5,156,829 Exercised / Canceled (2,872,832 ) Balance as of December 31, 2022 17,876,508 |
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 shares granted between December 31, 2022 and December 31, 2021, as well as the key assumptions used to apply the Black & Scholes model, were calculated as follows: Share grant program Cosan S.A. Compass Comgás TRSP Rumo December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Key premises: Market price on the grant date 17.14 23.20 29.20 27.27 29.20 78.58 29.20 27.27 20.56 18.20 Interest rate 6.82% 6.82% N/A N/A N/A 6.82% N/A N/A 11.53% 6.94% Volatility 36.50% 36.50% N/A N/A N/A 32.81% N/A N/A 27.70% 26.51% |
OPERATIONS AND CORPORATE REOR_3
OPERATIONS AND CORPORATE REORGANIZATION - Schedule of sale of available for sale assets (Detail) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 BRL (R$) | ||
Commit acquisition [member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Available-for-sale assets acquired | R$ 728542 | |
PBGas [Member] | State of Paraíba [Member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Date of acquisition | Jul. 21, 2022 | |
Acquirer | State of Paraíba | |
Name of acquiree | PBGas | |
Participation | 41.50% | |
Available-for-sale assets acquired | R$ 47251 | |
Algás [Member] | State of Alagoas [Member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Date of acquisition | Jul. 22, 2022 | |
Acquirer | State of Alagoas | |
Name of acquiree | Algás | [1] |
Participation | 12.06% | |
Available-for-sale assets acquired | R$ 27067 | |
BahiaGas [Member] | State of Bahia [Member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Date of acquisition | Jul. 25, 2022 | |
Acquirer | State of Bahia | |
Name of acquiree | BahiaGas | |
Participation | 41.50% | |
Available-for-sale assets acquired | R$ 574778 | |
Cegás [Member] | State of Ceara [Member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Date of acquisition | Jul. 26, 2022 | |
Acquirer | State of Ceara | |
Name of acquiree | Cegás | [2] |
Participation | 12.06% | |
Available-for-sale assets acquired | R$ 76399 | |
Cebgás [Member] | Termogás S.A. [Member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Date of acquisition | Jul. 21, 2022 | |
Acquirer | Termogás S.A. | |
Name of acquiree | Cebgás | |
Participation | 24% | |
Available-for-sale assets acquired | R$ 561 | |
Cebgás [Member] | Brasilia Energy Company [Member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Date of acquisition | Jul. 29, 2022 | |
Acquirer | Brasilia Energy Company | |
Name of acquiree | Cebgás | |
Participation | 8% | |
Available-for-sale assets acquired | R$ 187 | |
Gasap [Member] | Termogás S.A. [Member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Date of acquisition | Nov. 08, 2022 | |
Acquirer | Termogás S.A. | |
Name of acquiree | Gasap | |
Participation | 37.25% | |
Available-for-sale assets acquired | R$ 297 | |
Gaspisa [Member] | Termogás S.A. [Member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Date of acquisition | Nov. 08, 2022 | |
Acquirer | Termogás S.A. | |
Name of acquiree | Gaspisa | |
Participation | 22.11% | |
Available-for-sale assets acquired | R$ 398 | |
Gaspisa [Member] | State of Piauí [Member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Date of acquisition | Dec. 21, 2022 | |
Acquirer | State of Piauí | |
Name of acquiree | Gaspisa | |
Participation | 15.14% | |
Available-for-sale assets acquired | R$ 437 | |
Rongás [Member] | Termogás S.A. [Member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Date of acquisition | Nov. 08, 2022 | |
Acquirer | Termogás S.A. | |
Name of acquiree | Rongás | |
Participation | 41.50% | |
Available-for-sale assets acquired | R$ 504 | |
GoiásGas [Member] | Termogás S.A. [Member] | ||
Disclosure of operations and corporate reorganization [line items] | ||
Date of acquisition | Nov. 08, 2022 | |
Acquirer | Termogás S.A. | |
Name of acquiree | GoiásGas | |
Participation | 30.46% | |
Available-for-sale assets acquired | R$ 663 | |
[1] After the State of Alagoas exercised its right of preference, Commit retained a 29.44 After the State of exercised its right of preference, Commit retained a 29.44 . |
OPERATIONS AND CORPORATE REOR_4
OPERATIONS AND CORPORATE REORGANIZATION - Schedule of sale of available for sale assets (Detail) (Parenthetical) | 12 Months Ended |
Dec. 31, 2022 | |
Algás [Member] | |
Disclosure of operations and corporate reorganization [line items] | |
Proportion of ownership interest in associate | 29.44% |
Algás [Member] | State of Alagoas [Member] | |
Disclosure of operations and corporate reorganization [line items] | |
Participation | 12.06% |
Cegás [Member] | |
Disclosure of operations and corporate reorganization [line items] | |
Proportion of ownership interest in associate | 29.44% |
Cegás [Member] | State of Ceara [Member] | |
Disclosure of operations and corporate reorganization [line items] | |
Participation | 12.06% |
OPERATIONS AND CORPORATE REOR_5
OPERATIONS AND CORPORATE REORGANIZATION - Schedule of Loans contracted for acquisition of assets (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of detailed information about borrowings [line items] | ||||
Value | R$ 52987216 | R$ 45659037 | R$ 42249460 | |
Cosan Oito SA [Member] | Vale SA [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Value | R$ 16569660 | |||
Charges (p.a.) | “CDI,” +0.45% p.a | |||
Cosan Oito SA [Member] | Vale SA [Member] | JP Morgan SA [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Value | [1] | R$ 5141775 | ||
Maturities | [1] | 10/01/2027 | ||
Charges (p.a.) | [1] | EUR+3.28% | ||
Cosan Oito SA [Member] | Vale SA [Member] | Citibank SA [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Value | [1] | R$ 3427885 | ||
Maturities | [1] | 10/01/2027 | ||
Charges (p.a.) | [1] | JP¥+ 0.25% | ||
Cosan Oito SA [Member] | Vale SA [Member] | Banco Bradesco BBI SA [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Value | R$ 4000000 | |||
Maturities | 09/27/2023 | |||
Charges (p.a.) | CDI+1.35% | |||
Cosan Oito SA [Member] | Vale SA [Member] | BancoItaú BBA SA [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Value | R$ 4000000 | |||
Maturities | 09/16/2023 | |||
Charges (p.a.) | CDI+1.35% | |||
[1] The charges for these operations bear pre-fixed interest, raised in foreign currency for € 1,009,650 95,298,449 |
OPERATIONS AND CORPORATE REOR_6
OPERATIONS AND CORPORATE REORGANIZATION - Schedule of Loans contracted for acquisition of assets (Details 1) (Parenthetical) - Cosan Oito SA [Member] - Vale SA [Member] € in Thousands, ¥ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 EUR (€) | Dec. 31, 2022 JPY (¥) | |||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, interest rate basis | “CDI,” +0.45% p.a | “CDI,” +0.45% p.a | ||
JP Morgan SA [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest expense on borrowings | € | € 1,009,650 | |||
Borrowings, interest rate basis | EUR+3.28% | [1] | EUR+3.28% | [1] |
Citibank SA [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest expense on borrowings | ¥ | ¥ 95,298,449 | |||
Borrowings, interest rate basis | JP¥+ 0.25% | [1] | JP¥+ 0.25% | [1] |
[1] The charges for these operations bear pre-fixed interest, raised in foreign currency for € 1,009,650 95,298,449 |
OPERATIONS AND CORPORATE REOR_7
OPERATIONS AND CORPORATE REORGANIZATION - Additional Information (Detail) | Jul. 03, 2020 shares |
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 |
OPERATIONS AND CORPORATE REOR_8
OPERATIONS AND CORPORATE REORGANIZATION - Additional Information (Detail 2) R$ / shares in Units, R$ in Thousands, m³ in Millions | 12 Months Ended | |||||||||||||||||||||||||||||||||
Dec. 28, 2022 BRL (R$) | Dec. 23, 2022 BRL (R$) | Nov. 14, 2022 BRL (R$) | Oct. 14, 2022 BRL (R$) | Oct. 22, 2021 km m³ Number | Sep. 10, 2021 BRL (R$) shares | Sep. 09, 2021 BRL (R$) R$ / shares shares | Sep. 01, 2021 BRL (R$) | Aug. 23, 2021 BRL (R$) ITEM | Aug. 10, 2021 BRL (R$) shares | Jun. 01, 2021 | May 20, 2021 | Oct. 26, 2020 | Aug. 28, 2020 BRL (R$) R$ / shares shares | May 27, 2020 BRL (R$) | Jan. 30, 2020 BRL (R$) ITEM | Jan. 14, 2020 BRL (R$) shares | Dec. 31, 2022 BRL (R$) ITEM Number shares | Dec. 31, 2021 BRL (R$) | Dec. 31, 2020 BRL (R$) | Jan. 31, 2023 | Oct. 31, 2022 | Sep. 30, 2022 | Jul. 11, 2022 | May 23, 2022 | Feb. 11, 2022 | Jan. 03, 2022 | Oct. 29, 2021 BRL (R$) | Oct. 19, 2021 BRL (R$) | Sep. 04, 2021 BRL (R$) | Jul. 28, 2021 BRL (R$) | May 31, 2021 BRL (R$) shares | Apr. 09, 2020 BRL (R$) shares | ||
Development of the Company | ||||||||||||||||||||||||||||||||||
Acquisition consideration price | R$ 7284182 | |||||||||||||||||||||||||||||||||
Proceeds from issue of share through follow-on offering | 2,370 | R$ 69155 | R$ 65478 | |||||||||||||||||||||||||||||||
Issue of shares for investment agreement | R$ 7889251 | 2,252,306 | 6,666 | |||||||||||||||||||||||||||||||
Shareholding percentage | 3.35% | 3.31% | ||||||||||||||||||||||||||||||||
Number of customers served | ITEM | 79,000 | |||||||||||||||||||||||||||||||||
Consolidated working capital | R$ 9779721 | 14,336,147 | ||||||||||||||||||||||||||||||||
Profit for the year | 2,820,875 | 6,696,460 | 1,488,294 | |||||||||||||||||||||||||||||||
Cash and cash equivalents and marketable securities | 15,732,210 | 20,546,826 | ||||||||||||||||||||||||||||||||
Income from the sale of investments | [1] | R$ 988077 | ||||||||||||||||||||||||||||||||
Number of countries in which business operates | Number | 20 | |||||||||||||||||||||||||||||||||
Percentage of interest in share capital acquired in spot market | 1.55% | 1.57% | ||||||||||||||||||||||||||||||||
Percentage of additional equity interests under right o acquire | 1.57% | |||||||||||||||||||||||||||||||||
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% | |||||||||||||||||||||||||||||||||
Percentage of minority interest recognised | 49% | |||||||||||||||||||||||||||||||||
Number of mineral projects | ITEM | 3 | |||||||||||||||||||||||||||||||||
Percentage of financial investment acquired | 50% | 100% | ||||||||||||||||||||||||||||||||
Common shares [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 1,874,070,932 | |||||||||||||||||||||||||||||||||
Compass group acquisition | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Acquisition consideration price | R$ 99385 | |||||||||||||||||||||||||||||||||
Compass group acquisition | Gas and Power [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Number of pillars focused by segment | ITEM | 4 | |||||||||||||||||||||||||||||||||
Cosan Lubes [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 34,963,764 | |||||||||||||||||||||||||||||||||
Percentage of financial investment acquired | 100% | |||||||||||||||||||||||||||||||||
Rumo S.A. [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Shares held in subsidiary | shares | 40,065,607 | |||||||||||||||||||||||||||||||||
Percentage of ownership interest | 80% | |||||||||||||||||||||||||||||||||
Number of shares issued | shares | 1,854,158,791 | |||||||||||||||||||||||||||||||||
Income from the sale of investments | R$ 955584 | |||||||||||||||||||||||||||||||||
Rumo S.A. [member] | Common shares [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Proceeds from issue of share through follow-on offering | R$ 6400000 | |||||||||||||||||||||||||||||||||
Number of shares issued | shares | 294,252,874 | |||||||||||||||||||||||||||||||||
Share issue price | R$ / shares | R$ 21.75 | |||||||||||||||||||||||||||||||||
Comgas [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Estimated investments to be made for sub-concession contracts | R$ 2000000 | |||||||||||||||||||||||||||||||||
Number of shares issued | shares | 132,520,587 | |||||||||||||||||||||||||||||||||
Rumo Malha Paulista S.A. [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
New grant amount for sub-concession contracts | R$ 3382030 | |||||||||||||||||||||||||||||||||
Repayment of grants for sub-concession contracts | 2,823,777 | |||||||||||||||||||||||||||||||||
Estimated investments to be made for sub-concession contracts | R$ 6100000 | R$ 6100000 | ||||||||||||||||||||||||||||||||
Raizen S A [Member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Number of shares not contributed in capital increase | 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 | ||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 906,712,350 | |||||||||||||||||||||||||||||||||
Issue price (In R$ per share) | R$ / shares | R$ 7.4 | |||||||||||||||||||||||||||||||||
Issue of shares for investment agreement | R$ 6709671 | |||||||||||||||||||||||||||||||||
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% | |||||||||||||||||||||||||||||||||
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 interest | 77.65% | |||||||||||||||||||||||||||||||||
Additional payment for the acquisition | R$ 388739 | |||||||||||||||||||||||||||||||||
Number of share acquired | shares | 2,000 | |||||||||||||||||||||||||||||||||
Percentage of financial investment acquired | 15.42% | |||||||||||||||||||||||||||||||||
Compass Um Participacoes SA [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Percentage of financial investment acquired | 51% | |||||||||||||||||||||||||||||||||
Cosan Lubrificantese Especialidades S A [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Tax credits granted | R$ 208118 | |||||||||||||||||||||||||||||||||
China Communications Construction Company Limited | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Percentage of ownership interest | 51% | |||||||||||||||||||||||||||||||||
Tellus Brasil Participacoes S.A. [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Percentage of ownership interest | 20% | |||||||||||||||||||||||||||||||||
Number of shares issued | shares | 133,064,584 | |||||||||||||||||||||||||||||||||
Percentage of financial investment acquired | 12.40% | |||||||||||||||||||||||||||||||||
Janus Brasil Participacoes S.A. [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Percentage of ownership interest | 20% | |||||||||||||||||||||||||||||||||
Number of shares issued | shares | 286,370,051 | |||||||||||||||||||||||||||||||||
Percentage of financial investment acquired | 12.40% | |||||||||||||||||||||||||||||||||
Elevações Portuarias S.A. [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Percentage of ownership interest | 80% | |||||||||||||||||||||||||||||||||
Additional payment for the acquisition | R$ 1394669 | |||||||||||||||||||||||||||||||||
Income from the sale of investments | R$ 955584 | |||||||||||||||||||||||||||||||||
Cosan Oito SA [Member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Net earned premium on derivatives | R$ 499197 | |||||||||||||||||||||||||||||||||
Percentage of additional equity interests under right o acquire | 1.60% | |||||||||||||||||||||||||||||||||
Net earned premium on options | R$ 246321 | |||||||||||||||||||||||||||||||||
Cosan Oito SA [Member] | JP Morgan SA [Member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Percentage of borrowing guaranteed | 100% | |||||||||||||||||||||||||||||||||
Percentage of financial investment acquired | 3.31% | |||||||||||||||||||||||||||||||||
Cosan Oito SA [Member] | Vale SA [Member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Additional payment for the acquisition | R$ 16425483 | |||||||||||||||||||||||||||||||||
Funds required for business acquisition raised from call spread collar premium | 246,321 | |||||||||||||||||||||||||||||||||
Funds required for business acquisition raised from collar premium | 499,197 | |||||||||||||||||||||||||||||||||
Funds required for business acquisition raised from contracted debts | 16,569,660 | |||||||||||||||||||||||||||||||||
Funds required for business acquisition | 17,315,178 | |||||||||||||||||||||||||||||||||
Consideration paid for acquisition in call spread instrument purchased | R$ 888611 | |||||||||||||||||||||||||||||||||
Percentage of interest in share capital acquired in call spread instrument purchased | 1.60% | |||||||||||||||||||||||||||||||||
Consideration paid for acquisition in private transaction | R$ 11117824 | |||||||||||||||||||||||||||||||||
Percentage of interest in share capital acquired in private transaction | 3.31% | |||||||||||||||||||||||||||||||||
Consideration paid for acquisition in spot market | R$ 4918245 | |||||||||||||||||||||||||||||||||
Percentage of interest in share capital acquired in spot market | 1.55% | |||||||||||||||||||||||||||||||||
Percentage of share capital owned | 4.61% | |||||||||||||||||||||||||||||||||
Percentage of outstanding shares owned | 4.95% | |||||||||||||||||||||||||||||||||
Net earned premium on derivatives | R$ 499197 | |||||||||||||||||||||||||||||||||
Cosan S.A. [member] | Comgas [member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Percentage of ownership interest | 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% | |||||||||||||||||||||||||||||||||
Amount to be paid for the acquisition of control of Gaspetro | R$ 2030000 | |||||||||||||||||||||||||||||||||
Percentage of financial investment acquired | 51% | |||||||||||||||||||||||||||||||||
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 [member] | Sulgás | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Length of distribution network (in KM) | km | 1,400 | |||||||||||||||||||||||||||||||||
Number of customers served | Number | 79,000 | |||||||||||||||||||||||||||||||||
Number of municipalities served | Number | 41 | |||||||||||||||||||||||||||||||||
Distributed volume of natural gas | m³ | 1.5 | |||||||||||||||||||||||||||||||||
Percentage of financial investment acquired | 51% | |||||||||||||||||||||||||||||||||
Cosan Nove Participações SA [Member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Proceeds from sales of investments accounted for using equity method | R$ 8229987 | |||||||||||||||||||||||||||||||||
Cosan Nove Participações SA [Member] | BancoItaú BBA SA [Member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Percentage of ownership interest | 26.90% | |||||||||||||||||||||||||||||||||
Proceeds from sales of investments accounted for using equity method | R$ 4115000 | |||||||||||||||||||||||||||||||||
Cosan Nove Participações SA [Member] | Raizen S A [Member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Percentage of ownership interest | 39.15% | |||||||||||||||||||||||||||||||||
Cosan Dez Participações SA [Member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Proceeds from sales of investments accounted for using equity method | R$ 8229987 | |||||||||||||||||||||||||||||||||
Cosan Dez Participações SA [Member] | Banco Bradesco BBI SA [Member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Percentage of ownership interest | 23.30% | |||||||||||||||||||||||||||||||||
Proceeds from sales of investments accounted for using equity method | R$ 4000000 | |||||||||||||||||||||||||||||||||
Cosan Dez Participações SA [Member] | Preference shares [member] | Banco Bradesco BBI SA [Member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Net amount | R$ 6599987 | |||||||||||||||||||||||||||||||||
Cosan Dez Participações SA [Member] | Compass Gas E Energia S A [Member] | ||||||||||||||||||||||||||||||||||
Development of the Company | ||||||||||||||||||||||||||||||||||
Percentage of ownership interest | 88% | |||||||||||||||||||||||||||||||||
[1]The disposal of 80% of the subsidiary Rumo’s stake in EPSA (see Note 1.2), generated a gain of R$955,584. Additionally, on December 1, 2022, Cosan acquired 25% of the minority interest in Payly Soluces de Pagamentos S.A. ("Payly") for R$87,200, becoming its sole shareholder, and, on the same day, sold all of its equity interest to Raízen S.A., for a financial result of R$32,493. |
BASIS OF PREPARATION - Schedule
BASIS OF PREPARATION - Schedule of change in accounting policy (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Feb. 28, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Basis of presentation | ||||||
Total shareholders' equity | R$ 48169399 | R$ 28870022 | R$ 20818867 | R$ 16240481 | ||
Share capital [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 8,402,544 | 6,365,853 | 5,328 | 5,328 | ||
Treasury shares [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | (107,140) | (69,064) | ||||
Additional paid-in capital [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 2,319,928 | (1,690,235) | 2,007,356 | 887,165 | ||
Accumulated other comprehensive income (loss) [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 567,546 | (521,609) | (1,524,027) | (805,471) | ||
Retained earnings [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 9,470,289 | 10,655,992 | 4,771,426 | 5,314,843 | ||
Equity attributable to owners of the company [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 20,653,167 | 14,740,937 | 5,260,083 | 5,401,865 | ||
Non-controlling interest [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | R$ 27516232 | R$ 14129085 | R$ 15558784 | R$ 10838616 | ||
Predecessor adjustments [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | [1] | |||||
Predecessor adjustments [member] | Share capital [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | [1] | 6,360,525 | ||||
Predecessor adjustments [member] | Treasury shares [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | [1] | (583,941) | ||||
Predecessor adjustments [member] | Additional paid-in capital [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | [1] | (4,984,931) | ||||
Predecessor adjustments [member] | Accumulated other comprehensive income (loss) [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | [1] | 1,381,798 | ||||
Predecessor adjustments [member] | Retained earnings [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | [1] | 1,935,735 | ||||
Predecessor adjustments [member] | Equity attributable to owners of the company [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | [1] | 4,109,186 | ||||
Predecessor adjustments [member] | Non-controlling interest [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | [1] | (4,109,186) | ||||
Subsequent to corporate reorganization [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 20,812,506 | |||||
Subsequent to corporate reorganization [member] | Share capital [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 6,365,853 | |||||
Subsequent to corporate reorganization [member] | Treasury shares [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | (583,941) | |||||
Subsequent to corporate reorganization [member] | Additional paid-in capital [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | (2,978,278) | |||||
Subsequent to corporate reorganization [member] | Accumulated other comprehensive income (loss) [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | (596,294) | |||||
Subsequent to corporate reorganization [member] | Retained earnings [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 7,075,420 | |||||
Subsequent to corporate reorganization [member] | Equity attributable to owners of the company [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 9,282,760 | |||||
Subsequent to corporate reorganization [member] | Non-controlling interest [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 11,529,746 | |||||
Previously stated [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 20,812,506 | |||||
Previously stated [member] | Share capital [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 5,328 | |||||
Previously stated [member] | Treasury shares [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | ||||||
Previously stated [member] | Additional paid-in capital [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 2,006,653 | |||||
Previously stated [member] | Accumulated other comprehensive income (loss) [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | (1,978,092) | |||||
Previously stated [member] | Retained earnings [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 5,139,685 | |||||
Previously stated [member] | Equity attributable to owners of the company [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | 5,173,574 | |||||
Previously stated [member] | Non-controlling interest [member] | ||||||
Basis of presentation | ||||||
Total shareholders' equity | R$ 15638932 | |||||
[1] The predecessor adjustments Limited balance as of February 28, 2021 and the S.A. balance subsequent to the Corporate Reorganization. |
BASIS OF PREPARATION - Addition
BASIS OF PREPARATION - Additional Information (Detail) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) shares | |
Basis of presentation | |
Financial assets and applicable taxes derecognised | R$ 734903 |
Investment in subsidiary recorded | 329,118 |
Amount recognized in capital reserve | R$ 313758 |
Rumo S.A. [member] | |
Basis of presentation | |
Number of shares owned | shares | 40,065,607 |
Shareholding percentage | 2.16% |
Cosan Logística [Member] | |
Basis of presentation | |
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) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
United States dollar (U.S.$) [member] | |||
Disclosure of foreign exchange rates [line items] | |||
Foreign currency exchange rate | 5.22 | 5.58 | 5.2 |
Pound Sterling (GBP) [member] | |||
Disclosure of foreign exchange rates [line items] | |||
Foreign currency exchange rate | 6.28 | 7.52 | 7.1 |
Euro Member Countries, Euro | |||
Disclosure of foreign exchange rates [line items] | |||
Foreign currency exchange rate | 5.57 | 6.32 | 6.38 |
Japan, Yen | |||
Disclosure of foreign exchange rates [line items] | |||
Foreign currency exchange rate | 0.04 | 0.05 | 0.05 |
SEGMENT INFORMATION - Summary o
SEGMENT INFORMATION - Summary of Income or Loss (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | R$ 47609807 | R$ 31337931 | R$ 24926166 | ||||
Net sales | 39,737,368 | 25,865,001 | 20,437,835 | ||||
Cost of sales | (30,753,137) | (19,864,248) | (14,999,823) | ||||
Gross profit | 8,984,231 | 6,000,753 | 5,438,012 | ||||
Selling expenses | (1,276,279) | (723,419) | (661,907) | ||||
General and administrative expenses | (1,976,331) | (1,572,357) | (1,589,819) | ||||
Other income (expenses), net | 1,752,222 | 382,600 | 176,869 | ||||
Interest in earnings of associates | 468,743 | 130,225 | 28,801 | ||||
Interest in earnings of joint venture | (92,179) | 4,590,631 | 583,001 | ||||
Finance results, net | (5,157,936) | (2,557,557) | (1,983,996) | ||||
Finance expense | (4,706,535) | (2,527,506) | (4,727,561) | ||||
Finance income | 5,777,521 | 1,258,441 | 407,710 | ||||
Foreign exchange, net | 260,746 | (1,099,536) | (3,258,656) | ||||
Derivatives | (6,489,668) | (188,956) | 5,594,511 | ||||
Income taxes | 118,404 | 445,584 | (502,667) | ||||
Profit (loss) for the year | 2,820,875 | 6,696,460 | 1,488,294 | ||||
Profit (loss) attributable to: | |||||||
Owners of the Company | 1,176,032 | 6,312,140 | 859,482 | ||||
Non-controlling interests | 1,644,843 | 384,320 | 628,812 | ||||
Profit (loss) for the year | 2,820,875 | 6,696,460 | 1,488,294 | ||||
Other select data | |||||||
Depreciation and amortization | 3,014,480 | 2,504,384 | 2,340,854 | ||||
EBITDA | 10,874,887 | 11,312,817 | 6,315,811 | ||||
Additions to PP&E, intangible and contract asset | 4,531,374 | 4,774,839 | 4,034,688 | ||||
Reconciliation of EBITDA | |||||||
Profit (loss) for the year | 2,820,875 | 6,696,460 | 1,488,294 | ||||
Income taxes | (118,404) | (445,584) | 502,667 | ||||
Finance results, net | 5,157,936 | 2,557,557 | 1,983,996 | ||||
Depreciation and amortization | 3,014,480 | 2,504,384 | 2,340,854 | ||||
EBITDA | 10,874,887 | 11,312,817 | 6,315,811 | ||||
Brazil [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Net sales | 34,128,831 | 22,529,634 | 18,100,012 | ||||
Domestic market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 46,678,924 | [1] | 30,325,268 | [2] | 24,084,002 | [3] | |
External market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 930,883 | [1] | 1,012,663 | [2] | 842,164 | [3] | |
Logistics [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Income taxes | (193,116) | ||||||
Reconciliation of EBITDA | |||||||
Income taxes | 193,116 | ||||||
Operating segments [member] | Raízen | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 259,262,308 | 188,825,984 | 127,832,718 | ||||
Net sales | 244,293,722 | 175,047,270 | 118,049,722 | ||||
Cost of sales | (233,658,136) | (163,367,574) | (110,800,498) | ||||
Gross profit | 10,635,586 | 11,679,696 | 7,249,224 | ||||
Selling expenses | (5,148,014) | (3,882,690) | (3,264,756) | ||||
General and administrative expenses | (2,425,318) | (1,788,180) | (1,263,733) | ||||
Other income (expenses), net | 283,606 | 717,792 | 554,126 | ||||
Interest in earnings of associates | (119,338) | (43,534) | (88,323) | ||||
Interest in earnings of joint venture | (87,567) | ||||||
Finance results, net | (4,105,064) | (1,967,124) | (1,431,267) | ||||
Finance expense | (3,010,398) | (1,606,724) | (2,345,771) | ||||
Finance income | 811,948 | 580,266 | 690,678 | ||||
Foreign exchange, net | 963,060 | (1,076,722) | (3,821,462) | ||||
Derivatives | (2,869,674) | 136,056 | 4,045,288 | ||||
Income taxes | 864,710 | (1,350,252) | (537,004) | ||||
Profit (loss) for the year | (13,832) | 3,365,708 | 1,130,700 | ||||
Profit (loss) attributable to: | |||||||
Owners of the Company | (66,054) | 3,379,014 | 1,081,176 | ||||
Non-controlling interests | 52,222 | (13,306) | 49,524 | ||||
Profit (loss) for the year | (13,832) | 3,365,708 | 1,130,700 | ||||
Other select data | |||||||
Depreciation and amortization | 9,297,498 | 6,393,642 | 5,059,239 | ||||
EBITDA | 12,524,020 | 13,076,726 | 8,158,210 | ||||
Additions to PP&E, intangible and contract asset | 9,339,898 | 5,282,100 | 3,159,415 | ||||
Reconciliation of EBITDA | |||||||
Profit (loss) for the year | (13,832) | 3,365,708 | 1,130,700 | ||||
Income taxes | (864,710) | 1,350,252 | 537,004 | ||||
Finance results, net | 4,105,064 | 1,967,124 | 1,431,267 | ||||
Depreciation and amortization | 9,297,498 | 6,393,642 | 5,059,239 | ||||
EBITDA | 12,524,020 | 13,076,726 | 8,158,210 | ||||
Operating segments [member] | Raízen | Domestic market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 197,402,638 | [1] | 182,035,680 | [2] | 117,788,563 | [3] | |
Operating segments [member] | Raízen | External market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 61,859,670 | [1] | 6,790,304 | [2] | 10,044,155 | [3] | |
Operating segments [member] | Gas and Power [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 25,361,549 | 15,711,939 | 12,024,615 | ||||
Net sales | 20,133,787 | 12,330,209 | 9,093,170 | ||||
Cost of sales | (16,561,153) | (9,755,425) | (6,932,288) | ||||
Gross profit | 3,572,634 | 2,574,784 | 2,160,882 | ||||
Selling expenses | (163,256) | (125,412) | (156,892) | ||||
General and administrative expenses | (781,730) | (502,048) | (376,615) | ||||
Other income (expenses), net | (91,905) | 25,569 | 56,176 | ||||
Interest in earnings of associates | 147,878 | ||||||
Interest in earnings of joint venture | |||||||
Finance results, net | (416,397) | (289,616) | (282,773) | ||||
Finance expense | (1,331,114) | (900,783) | (374,252) | ||||
Finance income | 898,103 | 703,204 | 72,500 | ||||
Foreign exchange, net | 102,655 | (60,953) | (150,227) | ||||
Derivatives | (86,041) | (31,084) | 169,206 | ||||
Income taxes | (329,185) | 59,360 | (460,312) | ||||
Profit (loss) for the year | 1,938,039 | 1,742,637 | 940,466 | ||||
Profit (loss) attributable to: | |||||||
Owners of the Company | 1,572,263 | 1,650,725 | 923,420 | ||||
Non-controlling interests | 365,776 | 91,912 | 17,046 | ||||
Profit (loss) for the year | 1,938,039 | 1,742,637 | 940,466 | ||||
Other select data | |||||||
Depreciation and amortization | 776,248 | 559,994 | 500,714 | ||||
EBITDA | 3,459,869 | 2,532,887 | 2,184,265 | ||||
Additions to PP&E, intangible and contract asset | 1,659,202 | 1,269,886 | 1,006,881 | ||||
Reconciliation of EBITDA | |||||||
Profit (loss) for the year | 1,938,039 | 1,742,637 | 940,466 | ||||
Income taxes | 329,185 | (59,360) | 460,312 | ||||
Finance results, net | 416,397 | 289,616 | 282,773 | ||||
Depreciation and amortization | 776,248 | 559,994 | 500,714 | ||||
EBITDA | 3,459,869 | 2,532,887 | 2,184,265 | ||||
Operating segments [member] | Gas and Power [member] | Domestic market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 25,361,549 | [1] | 15,711,939 | [2] | 12,024,615 | [3] | |
Operating segments [member] | Gas and Power [member] | External market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | [1] | ||||||
Operating segments [member] | Moove [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 10,984,268 | 7,697,074 | 5,588,754 | ||||
Net sales | 8,980,077 | 6,112,457 | 4,415,575 | ||||
Cost of sales | (6,990,171) | (4,808,643) | (3,380,304) | ||||
Gross profit | 1,989,906 | 1,303,814 | 1,035,271 | ||||
Selling expenses | (1,072,488) | (551,520) | (471,829) | ||||
General and administrative expenses | (347,591) | (269,810) | (229,672) | ||||
Other income (expenses), net | 29,002 | 23,414 | 34,876 | ||||
Interest in earnings of associates | |||||||
Interest in earnings of joint venture | |||||||
Finance results, net | (101,872) | (63,797) | (129,342) | ||||
Finance expense | (114,249) | (61,870) | (30,910) | ||||
Finance income | 75,817 | 58,071 | 20,086 | ||||
Foreign exchange, net | (15,394) | (66,118) | (161,636) | ||||
Derivatives | (48,046) | 6,120 | 43,118 | ||||
Income taxes | (10,062) | (147,138) | (87,941) | ||||
Profit (loss) for the year | 486,895 | 294,963 | 151,363 | ||||
Profit (loss) attributable to: | |||||||
Owners of the Company | 340,914 | 205,139 | 104,570 | ||||
Non-controlling interests | 145,981 | 89,824 | 46,793 | ||||
Profit (loss) for the year | 486,895 | 294,963 | 151,363 | ||||
Other select data | |||||||
Depreciation and amortization | 251,886 | 96,852 | 108,687 | ||||
EBITDA | 850,715 | 602,750 | 477,333 | ||||
Additions to PP&E, intangible and contract asset | 109,263 | 42,536 | 29,658 | ||||
Reconciliation of EBITDA | |||||||
Profit (loss) for the year | 486,895 | 294,963 | 151,363 | ||||
Income taxes | 10,062 | 147,138 | 87,941 | ||||
Finance results, net | 101,872 | 63,797 | 129,342 | ||||
Depreciation and amortization | 251,886 | 96,852 | 108,687 | ||||
EBITDA | 850,715 | 602,750 | 477,333 | ||||
Operating segments [member] | Moove [member] | Domestic market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 10,327,853 | [1] | 7,021,757 | [2] | 5,117,770 | [3] | |
Operating segments [member] | Moove [member] | External market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 656,415 | [1] | 675,317 | [2] | 470,984 | [3] | |
Operating segments [member] | Logistics [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 10,449,453 | 7,944,312 | 7,349,804 | ||||
Net sales | 9,841,508 | 7,439,632 | 6,966,159 | ||||
Cost of sales | (6,695,147) | (5,352,040) | (4,721,507) | ||||
Gross profit | 3,146,361 | 2,087,592 | 2,244,652 | ||||
Selling expenses | (30,619) | (38,959) | (30,670) | ||||
General and administrative expenses | (468,574) | (472,739) | (411,336) | ||||
Other income (expenses), net | 348,543 | (69,017) | 128,388 | ||||
Interest in earnings of associates | 40,462 | 12,857 | 13,087 | ||||
Interest in earnings of joint venture | |||||||
Finance results, net | (2,329,035) | (1,359,940) | (1,503,221) | ||||
Finance expense | (1,521,478) | (705,623) | (2,920,241) | ||||
Finance income | 1,108,620 | 399,134 | 177,206 | ||||
Foreign exchange, net | 374,859 | (489,952) | (1,577,342) | ||||
Derivatives | (2,291,036) | (563,499) | 2,817,156 | ||||
Income taxes | (193,116) | (4,053) | (169,990) | ||||
Profit (loss) for the year | 514,022 | 155,741 | 270,910 | ||||
Profit (loss) attributable to: | |||||||
Owners of the Company | 156,380 | 150,539 | 43,602 | ||||
Non-controlling interests | 357,642 | 5,202 | 227,308 | ||||
Profit (loss) for the year | 514,022 | 155,741 | 270,910 | ||||
Other select data | |||||||
Depreciation and amortization | 1,966,945 | 1,830,683 | 1,715,527 | ||||
EBITDA | 5,003,118 | 3,350,417 | 3,659,648 | ||||
Additions to PP&E, intangible and contract asset | 2,717,745 | 3,453,407 | 2,979,213 | ||||
Reconciliation of EBITDA | |||||||
Profit (loss) for the year | 514,022 | 155,741 | 270,910 | ||||
Income taxes | 193,116 | 4,053 | 169,990 | ||||
Finance results, net | 2,329,035 | 1,359,940 | 1,503,221 | ||||
Depreciation and amortization | 1,966,945 | 1,830,683 | 1,715,527 | ||||
EBITDA | 5,003,118 | 3,350,417 | 3,659,648 | ||||
Operating segments [member] | Logistics [member] | Domestic market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 10,174,985 | [1] | 7,606,966 | [2] | 6,978,624 | [3] | |
Operating segments [member] | Logistics [member] | External market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 274,468 | [1] | 337,346 | [2] | 371,180 | [3] | |
Operating segments [member] | Land [Member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 865,700 | ||||||
Net sales | 834,616 | ||||||
Cost of sales | (560,274) | ||||||
Gross profit | 274,342 | ||||||
Selling expenses | |||||||
General and administrative expenses | (45,535) | ||||||
Other income (expenses), net | 1,302,442 | ||||||
Interest in earnings of associates | 20,799 | ||||||
Interest in earnings of joint venture | |||||||
Finance results, net | 4,106 | ||||||
Finance expense | (3,550) | ||||||
Finance income | 7,656 | ||||||
Foreign exchange, net | |||||||
Derivatives | |||||||
Income taxes | (74,915) | ||||||
Profit (loss) for the year | 1,481,239 | ||||||
Profit (loss) attributable to: | |||||||
Owners of the Company | 749,840 | ||||||
Non-controlling interests | 731,399 | ||||||
Profit (loss) for the year | 1,481,239 | ||||||
Other select data | |||||||
Depreciation and amortization | 238 | ||||||
EBITDA | 1,552,286 | ||||||
Additions to PP&E, intangible and contract asset | 19,212 | ||||||
Reconciliation of EBITDA | |||||||
Profit (loss) for the year | 1,481,239 | ||||||
Income taxes | 74,915 | ||||||
Finance results, net | (4,106) | ||||||
Depreciation and amortization | 238 | ||||||
EBITDA | 1,552,286 | ||||||
Operating segments [member] | Land [Member] | Domestic market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | [1] | 865,700 | |||||
Operating segments [member] | Land [Member] | External market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | [1] | ||||||
Operating segments [member] | Other Investments [Member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 11,873 | ||||||
Net sales | 10,416 | ||||||
Cost of sales | (9,428) | ||||||
Gross profit | 988 | ||||||
Selling expenses | (9,916) | ||||||
General and administrative expenses | (68,404) | ||||||
Other income (expenses), net | (3) | ||||||
Interest in earnings of associates | (57) | ||||||
Interest in earnings of joint venture | |||||||
Finance results, net | 3,851 | ||||||
Finance expense | 7,698 | ||||||
Finance income | 5,101 | ||||||
Foreign exchange, net | (8,948) | ||||||
Derivatives | |||||||
Income taxes | (68) | ||||||
Profit (loss) for the year | (73,609) | ||||||
Profit (loss) attributable to: | |||||||
Owners of the Company | (64,306) | ||||||
Non-controlling interests | (9,303) | ||||||
Profit (loss) for the year | (73,609) | ||||||
Other select data | |||||||
Depreciation and amortization | 5,159 | ||||||
EBITDA | (72,233) | ||||||
Additions to PP&E, intangible and contract asset | 23,481 | ||||||
Reconciliation of EBITDA | |||||||
Profit (loss) for the year | (73,609) | ||||||
Income taxes | 68 | ||||||
Finance results, net | (3,851) | ||||||
Depreciation and amortization | 5,159 | ||||||
EBITDA | (72,233) | ||||||
Operating segments [member] | Other Investments [Member] | Domestic market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | [1] | 11,873 | |||||
Operating segments [member] | Other Investments [Member] | External market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | [1] | ||||||
Operating segments [member] | Cosan Investiments | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | 32,695 | ||||||
Net sales | 834,616 | 31,502 | |||||
Cost of sales | |||||||
Gross profit | 31,502 | ||||||
Selling expenses | |||||||
General and administrative expenses | (6,499) | ||||||
Other income (expenses), net | 21,017 | ||||||
Interest in earnings of associates | |||||||
Interest in earnings of joint venture | |||||||
Finance results, net | 3,199 | ||||||
Finance expense | (51) | ||||||
Finance income | 3,250 | ||||||
Foreign exchange, net | |||||||
Derivatives | |||||||
Income taxes | (4,215) | ||||||
Profit (loss) for the year | 45,004 | ||||||
Profit (loss) attributable to: | |||||||
Owners of the Company | 22,502 | ||||||
Non-controlling interests | 22,502 | ||||||
Profit (loss) for the year | 45,004 | ||||||
Other select data | |||||||
Depreciation and amortization | 39 | ||||||
EBITDA | 46,059 | ||||||
Additions to PP&E, intangible and contract asset | 278 | ||||||
Reconciliation of EBITDA | |||||||
Profit (loss) for the year | 45,004 | ||||||
Income taxes | 4,215 | ||||||
Finance results, net | (3,199) | ||||||
Depreciation and amortization | 39 | ||||||
EBITDA | 46,059 | ||||||
Operating segments [member] | Cosan Investiments | Domestic market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | [2] | 32,695 | |||||
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 | 880 | |||||
Net sales | 8,292 | 818 | |||||
Cost of sales | (5,231) | (3,611) | |||||
Gross profit | 3,061 | (2,793) | |||||
Selling expenses | (7,528) | (2,516) | |||||
General and administrative expenses | (264,497) | (321,261) | (572,196) | ||||
Other income (expenses), net | 164,143 | 381,617 | (42,571) | ||||
Interest in earnings of associates | 3,051,158 | 2,195,679 | 1,746,969 | ||||
Interest in earnings of joint venture | (92,179) | 4,590,631 | 583,001 | ||||
Finance results, net | (2,318,589) | (847,403) | (68,660) | ||||
Finance expense | (1,743,842) | (859,179) | (1,402,158) | ||||
Finance income | 3,682,224 | 94,782 | 137,918 | ||||
Foreign exchange, net | (192,426) | (482,513) | (1,369,451) | ||||
Derivatives | (4,064,545) | 399,507 | 2,565,031 | ||||
Income taxes | 725,750 | 541,630 | 215,576 | ||||
Profit (loss) for the year | 1,265,786 | 6,536,426 | 1,856,810 | ||||
Profit (loss) attributable to: | |||||||
Owners of the Company | 1,212,438 | 6,361,546 | 1,519,145 | ||||
Non-controlling interests | 53,348 | 174,880 | 337,665 | ||||
Profit (loss) for the year | 1,265,786 | 6,536,426 | 1,856,810 | ||||
Other select data | |||||||
Depreciation and amortization | 14,004 | 16,818 | 15,926 | ||||
EBITDA | 2,872,629 | 6,859,017 | 1,725,820 | ||||
Additions to PP&E, intangible and contract asset | 2,471 | 8,732 | 18,936 | ||||
Reconciliation of EBITDA | |||||||
Profit (loss) for the year | 1,265,786 | 6,536,426 | 1,856,810 | ||||
Income taxes | (725,750) | (541,630) | (215,576) | ||||
Finance results, net | 2,318,589 | 847,403 | 68,660 | ||||
Depreciation and amortization | 14,004 | 16,818 | 15,926 | ||||
EBITDA | 2,872,629 | 6,859,017 | 1,725,820 | ||||
Unallocated amounts [member] | Cosan Corporate [member] | Domestic market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | [1] | 9,002 | [2] | 880 | [3] | ||
Unallocated amounts [member] | Cosan Corporate [member] | External market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | [1] | ||||||
Deconsolidation of joint venture [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | (259,262,308) | (188,825,984) | (127,832,718) | ||||
Net sales | (244,293,722) | (175,047,270) | (118,049,722) | ||||
Cost of sales | 233,658,136 | 163,367,574 | 110,800,498 | ||||
Gross profit | (10,635,586) | (11,679,696) | (7,249,224) | ||||
Selling expenses | 5,148,014 | 3,882,690 | 3,264,756 | ||||
General and administrative expenses | 2,425,318 | 1,788,180 | 1,263,733 | ||||
Other income (expenses), net | (283,606) | (717,792) | (554,126) | ||||
Interest in earnings of associates | 119,338 | 43,534 | 88,323 | ||||
Interest in earnings of joint venture | 87,567 | ||||||
Finance results, net | 4,105,064 | 1,967,124 | 1,431,267 | ||||
Finance expense | 3,010,398 | 1,606,724 | 2,345,771 | ||||
Finance income | (811,948) | (580,266) | (690,678) | ||||
Foreign exchange, net | (963,060) | 1,076,722 | 3,821,462 | ||||
Derivatives | 2,869,674 | (136,056) | (4,045,288) | ||||
Income taxes | (864,710) | 1,350,252 | 537,004 | ||||
Profit (loss) for the year | 13,832 | (3,365,708) | (1,130,700) | ||||
Profit (loss) attributable to: | |||||||
Owners of the Company | 66,054 | (3,379,014) | (1,081,176) | ||||
Non-controlling interests | (52,222) | 13,306 | (49,524) | ||||
Profit (loss) for the year | 13,832 | (3,365,708) | (1,130,700) | ||||
Other select data | |||||||
Depreciation and amortization | (9,297,498) | (6,393,642) | (5,059,239) | ||||
EBITDA | (12,524,020) | (13,076,726) | (8,158,210) | ||||
Additions to PP&E, intangible and contract asset | (9,339,898) | (5,282,100) | (3,159,415) | ||||
Reconciliation of EBITDA | |||||||
Profit (loss) for the year | 13,832 | (3,365,708) | (1,130,700) | ||||
Income taxes | 864,710 | (1,350,252) | (537,004) | ||||
Finance results, net | (4,105,064) | (1,967,124) | (1,431,267) | ||||
Depreciation and amortization | (9,297,498) | (6,393,642) | (5,059,239) | ||||
EBITDA | (12,524,020) | (13,076,726) | (8,158,210) | ||||
Deconsolidation of joint venture [member] | Domestic market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | (197,402,638) | [1] | (182,035,680) | [2] | (117,788,563) | [3] | |
Deconsolidation of joint venture [member] | External market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | (61,859,670) | [1] | (6,790,304) | [2] | (10,044,155) | [3] | |
Elimination of intersegment amounts [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | (63,036) | (57,091) | (37,887) | ||||
Net sales | (63,036) | (57,091) | (37,887) | ||||
Cost of sales | 63,036 | 57,091 | 37,887 | ||||
Gross profit | |||||||
Selling expenses | |||||||
General and administrative expenses | |||||||
Other income (expenses), net | |||||||
Interest in earnings of associates | (2,791,497) | (2,078,311) | (1,731,255) | ||||
Interest in earnings of joint venture | |||||||
Finance results, net | |||||||
Finance expense | |||||||
Finance income | |||||||
Foreign exchange, net | |||||||
Derivatives | |||||||
Income taxes | |||||||
Profit (loss) for the year | (2,791,497) | (2,078,311) | (1,731,255) | ||||
Profit (loss) attributable to: | |||||||
Owners of the Company | (2,791,497) | (2,078,311) | (1,731,255) | ||||
Non-controlling interests | |||||||
Profit (loss) for the year | (2,791,497) | (2,078,311) | (1,731,255) | ||||
Other select data | |||||||
Depreciation and amortization | (2) | ||||||
EBITDA | (2,791,497) | (2,078,313) | (1,731,255) | ||||
Additions to PP&E, intangible and contract asset | |||||||
Reconciliation of EBITDA | |||||||
Profit (loss) for the year | (2,791,497) | (2,078,311) | (1,731,255) | ||||
Income taxes | |||||||
Finance results, net | |||||||
Depreciation and amortization | (2) | ||||||
EBITDA | (2,791,497) | (2,078,313) | (1,731,255) | ||||
Elimination of intersegment amounts [member] | Domestic market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | (63,036) | [1] | (57,091) | [2] | (37,887) | [3] | |
Elimination of intersegment amounts [member] | External market [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Gross Sale | [1] | [3] | |||||
Elimination of intersegment amounts [member] | Raízen | |||||||
Disclosure of operating segments [line items] | |||||||
Net sales | R$ 4607102 | [4] | |||||
[1]Domestic market: sales within each entity's country of residence; Foreign market: export sales.[2]Domestic markets: sales within the country where each entity is located; external markets: sales export.[3]Domestic markets: sales within the country where each entity is located; external markets: sales export.[4]On June 1, 2021, Raízen S.A. started to consolidate Raízen Energia and, with that, the balances between the entities started to be presented net. |
SEGMENT INFORMATION - Summary_2
SEGMENT INFORMATION - Summary of Financial Position (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Statement of financial position items: | ||||
Total assets | R$ 134484992 | R$ 97842023 | ||
Cash and cash equivalents | 13,301,716 | 16,174,130 | R$ 13642918 | R$ 8472274 |
Marketable securities | 22,099,766 | 4,388,007 | ||
Trade receivables | 3,927,542 | 2,745,853 | ||
Derivative financial instruments | 4,151,752 | 4,732,926 | ||
Inventories | 1,869,059 | 1,149,304 | ||
Sector financial assets | 342,333 | 558,310 | ||
Other financial assets | 89,238 | 320,193 | ||
Other current assets | 2,890,167 | 2,331,331 | ||
Other non-current assets | 7,363,106 | 6,755,243 | ||
Investments in associates | 2,913,943 | 780,067 | ||
Investment in joint venture | 11,221,356 | 10,936,663 | ||
Biological assets | 9,992 | |||
Property, plant and equipment | 18,948,436 | 16,648,553 | ||
Intangible assets and goodwill | 22,121,942 | 17,781,498 | ||
Contract asset | 1,118,715 | 705,982 | ||
Right-of-use assets | 8,012,869 | 7,947,267 | ||
Investment property | 14,103,060 | 3,886,696 | ||
Liabilities | (86,315,593) | (68,972,001) | ||
Loans, borrowings and debentures | (52,987,216) | (45,659,037) | (42,249,460) | |
Leases | (3,532,158) | (3,267,682) | ||
Derivative financial instruments | (5,290,932) | (1,076,161) | ||
Trade payables | (4,379,851) | (3,253,504) | ||
Employee benefits payables | (659,521) | (552,991) | ||
Sector financial liabilities | (1,616,616) | (1,372,283) | ||
Other current liabilities | (4,620,820) | (3,491,829) | ||
Other non-current liabilities | (13,228,479) | (10,298,514) | ||
Total assets (net of liabilities) allocated by segment | 48,169,399 | 28,870,022 | 20,818,867 | 16,240,481 |
Shareholders' equity attributable to: | ||||
Equity attributable to owners of parent | 20,653,167 | 14,740,937 | ||
Non-controlling interests | 27,516,232 | 14,129,085 | 15,558,784 | |
Total shareholders' equity | 48,169,399 | 28,870,022 | R$ 20818867 | R$ 16240481 |
Operating segments [member] | Raízen | ||||
Statement of financial position items: | ||||
Total assets | 109,894,718 | 110,136,182 | ||
Cash and cash equivalents | 4,902,800 | 5,034,788 | ||
Marketable securities | 126,206 | 154,052 | ||
Trade receivables | 10,316,720 | 7,618,176 | ||
Derivative financial instruments | 7,023,284 | 11,805,548 | ||
Inventories | 16,043,114 | 14,297,068 | ||
Sector financial assets | ||||
Other financial assets | 230,780 | 261,412 | ||
Other current assets | 10,285,568 | 12,545,650 | ||
Other non-current assets | 8,938,318 | 8,562,180 | ||
Investments in associates | ||||
Investment in joint venture | 1,371,430 | 1,317,720 | ||
Biological assets | 3,254,850 | 3,106,744 | ||
Property, plant and equipment | 25,210,448 | 22,506,160 | ||
Intangible assets and goodwill | 9,337,192 | 9,226,852 | ||
Contract asset | 3,297,856 | 2,941,390 | ||
Right-of-use assets | 9,556,152 | 10,758,442 | ||
Investment property | ||||
Liabilities | (83,814,462) | (84,736,772) | ||
Loans, borrowings and debentures | (33,551,302) | (26,967,092) | ||
Leases | (10,568,042) | (10,685,524) | ||
Derivative financial instruments | (4,909,074) | (12,377,276) | ||
Trade payables | (18,789,160) | (15,678,442) | ||
Employee benefits payables | (837,208) | (788,948) | ||
Sector financial liabilities | ||||
Other current liabilities | (7,176,122) | (9,591,918) | ||
Other non-current liabilities | (7,983,554) | (8,647,572) | ||
Total assets (net of liabilities) allocated by segment | 26,080,256 | 25,399,410 | ||
Shareholders' equity attributable to: | ||||
Equity attributable to owners of parent | 22,507,108 | 23,870,251 | ||
Non-controlling interests | 3,573,148 | 1,529,159 | ||
Total shareholders' equity | 26,080,256 | 25,399,410 | ||
Operating segments [member] | Gas and Power [member] | ||||
Statement of financial position items: | ||||
Total assets | 25,124,200 | 19,982,611 | ||
Cash and cash equivalents | 3,405,648 | 3,562,358 | ||
Marketable securities | 578,358 | 1,876,006 | ||
Trade receivables | 1,931,205 | 1,427,720 | ||
Derivative financial instruments | 391,863 | 358,456 | ||
Inventories | 133,881 | 129,554 | ||
Sector financial assets | 342,333 | 558,310 | ||
Other financial assets | 277 | |||
Other current assets | 1,037,587 | 340,909 | ||
Other non-current assets | 897,654 | 1,370,964 | ||
Investments in associates | 2,525,292 | |||
Investment in joint venture | ||||
Biological assets | ||||
Property, plant and equipment | 671,573 | 271,490 | ||
Intangible assets and goodwill | 12,015,135 | 9,328,654 | ||
Contract asset | 1,110,335 | 684,970 | ||
Right-of-use assets | 83,059 | 73,220 | ||
Investment property | ||||
Liabilities | (16,642,318) | (13,609,495) | ||
Loans, borrowings and debentures | (8,278,839) | (7,667,987) | ||
Leases | (76,606) | (63,752) | ||
Derivative financial instruments | (400,351) | (357,932) | ||
Trade payables | (1,842,810) | (1,798,977) | ||
Employee benefits payables | (193,585) | (104,404) | ||
Sector financial liabilities | (1,616,616) | (1,372,283) | ||
Other current liabilities | (906,844) | (472,592) | ||
Other non-current liabilities | (3,326,667) | (1,771,568) | ||
Total assets (net of liabilities) allocated by segment | 8,481,882 | 6,373,116 | ||
Shareholders' equity attributable to: | ||||
Equity attributable to owners of parent | 4,310,836 | 5,585,768 | ||
Non-controlling interests | 4,171,046 | 787,348 | ||
Total shareholders' equity | 8,481,882 | 6,373,116 | ||
Operating segments [member] | Moove [member] | ||||
Statement of financial position items: | ||||
Total assets | 8,081,113 | 4,850,344 | ||
Cash and cash equivalents | 865,370 | 1,059,866 | ||
Marketable securities | 62,919 | 129,390 | ||
Trade receivables | 1,101,336 | 605,928 | ||
Derivative financial instruments | 26,513 | |||
Inventories | 1,509,357 | 790,825 | ||
Sector financial assets | ||||
Other financial assets | 450 | 466 | ||
Other current assets | 405,314 | 298,004 | ||
Other non-current assets | 297,616 | 246,934 | ||
Investments in associates | ||||
Investment in joint venture | ||||
Biological assets | ||||
Property, plant and equipment | 805,377 | 334,065 | ||
Intangible assets and goodwill | 2,854,874 | 1,285,884 | ||
Contract asset | 8,380 | 21,011 | ||
Right-of-use assets | 170,120 | 51,458 | ||
Investment property | ||||
Liabilities | (5,731,853) | (2,564,187) | ||
Loans, borrowings and debentures | (2,862,154) | (831,148) | ||
Leases | (166,651) | (53,436) | ||
Derivative financial instruments | (18,146) | |||
Trade payables | (1,602,936) | (828,690) | ||
Employee benefits payables | (112,590) | (132,158) | ||
Sector financial liabilities | ||||
Other current liabilities | (397,704) | (349,967) | ||
Other non-current liabilities | (571,672) | (368,788) | ||
Total assets (net of liabilities) allocated by segment | 2,349,260 | 2,286,157 | ||
Shareholders' equity attributable to: | ||||
Equity attributable to owners of parent | 1,647,259 | 1,599,949 | ||
Non-controlling interests | 702,001 | 686,208 | ||
Total shareholders' equity | 2,349,260 | 2,286,157 | ||
Operating segments [member] | Logistics [member] | ||||
Statement of financial position items: | ||||
Total assets | 45,951,748 | 48,174,556 | ||
Cash and cash equivalents | 7,385,421 | 9,448,193 | ||
Marketable securities | 840,061 | 1,425,897 | ||
Trade receivables | 578,324 | 503,316 | ||
Derivative financial instruments | 874,843 | 1,674,821 | ||
Inventories | 225,813 | 228,923 | ||
Sector financial assets | ||||
Other financial assets | ||||
Other current assets | 724,415 | 747,308 | ||
Other non-current assets | 3,385,624 | 3,197,105 | ||
Investments in associates | 381,469 | 57,844 | ||
Investment in joint venture | ||||
Biological assets | ||||
Property, plant and equipment | 17,049,188 | 15,974,562 | ||
Intangible assets and goodwill | 6,774,306 | 7,131,645 | ||
Contract asset | 1 | |||
Right-of-use assets | 7,732,284 | 7,784,941 | ||
Investment property | ||||
Liabilities | (30,541,294) | (33,156,493) | ||
Loans, borrowings and debentures | (16,758,088) | (21,178,748) | ||
Leases | (3,254,011) | (3,106,883) | ||
Derivative financial instruments | (1,412,945) | (576,749) | ||
Trade payables | (746,433) | (618,658) | ||
Employee benefits payables | (296,833) | (255,963) | ||
Sector financial liabilities | ||||
Other current liabilities | (1,786,009) | (1,384,611) | ||
Other non-current liabilities | (6,286,975) | (6,034,881) | ||
Total assets (net of liabilities) allocated by segment | 15,410,454 | 15,018,063 | ||
Shareholders' equity attributable to: | ||||
Equity attributable to owners of parent | 4,613,308 | 4,479,944 | ||
Non-controlling interests | 10,797,146 | 10,538,119 | ||
Total shareholders' equity | 15,410,454 | 15,018,063 | ||
Operating segments [member] | Land [Member] | ||||
Statement of financial position items: | ||||
Total assets | 14,830,918 | |||
Cash and cash equivalents | 25,582 | |||
Marketable securities | 217,061 | |||
Trade receivables | 314,834 | |||
Derivative financial instruments | ||||
Inventories | ||||
Sector financial assets | ||||
Other financial assets | ||||
Other current assets | 74,623 | |||
Other non-current assets | 7,643 | |||
Investments in associates | 74,505 | |||
Investment in joint venture | ||||
Biological assets | 9,992 | |||
Property, plant and equipment | 34 | |||
Intangible assets and goodwill | ||||
Contract asset | ||||
Right-of-use assets | 3,584 | |||
Investment property | 14,103,060 | |||
Liabilities | (1,446,694) | |||
Loans, borrowings and debentures | ||||
Leases | (3,708) | |||
Derivative financial instruments | ||||
Trade payables | (71,684) | |||
Employee benefits payables | ||||
Sector financial liabilities | ||||
Other current liabilities | (905,816) | |||
Other non-current liabilities | (465,486) | |||
Total assets (net of liabilities) allocated by segment | 13,384,224 | |||
Shareholders' equity attributable to: | ||||
Equity attributable to owners of parent | 4,187,415 | |||
Non-controlling interests | 9,196,809 | |||
Total shareholders' equity | 13,384,224 | |||
Operating segments [member] | Other Investments [Member] | ||||
Statement of financial position items: | ||||
Total assets | 1,154,100 | |||
Cash and cash equivalents | 110,228 | |||
Marketable securities | 91,103 | |||
Trade receivables | 1,843 | |||
Derivative financial instruments | ||||
Inventories | 8 | |||
Sector financial assets | ||||
Other financial assets | ||||
Other current assets | 110,517 | |||
Other non-current assets | 900 | |||
Investments in associates | ||||
Investment in joint venture | ||||
Biological assets | ||||
Property, plant and equipment | 363,374 | |||
Intangible assets and goodwill | 475,337 | |||
Contract asset | ||||
Right-of-use assets | 790 | |||
Investment property | ||||
Liabilities | (78,828) | |||
Loans, borrowings and debentures | ||||
Leases | (818) | |||
Derivative financial instruments | ||||
Trade payables | (790) | |||
Employee benefits payables | (7,232) | |||
Sector financial liabilities | ||||
Other current liabilities | (3,105) | |||
Other non-current liabilities | (66,883) | |||
Total assets (net of liabilities) allocated by segment | 1,075,272 | |||
Shareholders' equity attributable to: | ||||
Equity attributable to owners of parent | 1,060,360 | |||
Non-controlling interests | 14,912 | |||
Total shareholders' equity | 1,075,272 | |||
Operating segments [member] | Cosan Investments | ||||
Statement of financial position items: | ||||
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 | ||||
Investment in joint venture | ||||
Biological assets | ||||
Property, plant and equipment | 31 | |||
Intangible assets and goodwill | ||||
Contract asset | ||||
Right-of-use assets | 3,203 | |||
Investment property | 3,886,696 | |||
Liabilities | (246,599) | |||
Loans, borrowings and debentures | ||||
Leases | (3,253) | |||
Derivative financial instruments | ||||
Trade payables | (1,006) | |||
Employee benefits payables | ||||
Sector financial liabilities | ||||
Other current liabilities | (48,739) | |||
Other non-current liabilities | (193,601) | |||
Total assets (net of liabilities) allocated by segment | 4,238,206 | |||
Shareholders' equity attributable to: | ||||
Equity attributable to owners of parent | 2,119,104 | |||
Non-controlling interests | 2,119,102 | |||
Total shareholders' equity | 4,238,206 | |||
Unallocated amounts [member] | Cosan Corporate [member] | ||||
Statement of financial position items: | ||||
Total assets | 56,596,092 | 35,054,650 | ||
Cash and cash equivalents | 1,509,467 | 2,096,245 | ||
Marketable securities | 20,310,264 | 910,620 | ||
Trade receivables | 1,128 | |||
Derivative financial instruments | 2,885,046 | 2,673,136 | ||
Inventories | 2 | |||
Sector financial assets | ||||
Other financial assets | 88,511 | (1) | ||
Other current assets | 1,705,199 | 1,599,793 | ||
Other non-current assets | 3,040,182 | 2,180,559 | ||
Investments in associates | 15,751,855 | 14,518,340 | ||
Investment in joint venture | 11,221,356 | 10,936,663 | ||
Biological assets | ||||
Property, plant and equipment | 58,890 | 68,405 | ||
Intangible assets and goodwill | 2,290 | 35,315 | ||
Contract asset | ||||
Right-of-use assets | 23,032 | 34,445 | ||
Investment property | ||||
Liabilities | (33,308,605) | (20,305,063) | ||
Loans, borrowings and debentures | (25,088,135) | (15,981,154) | ||
Leases | (30,364) | (40,358) | ||
Derivative financial instruments | (3,459,490) | (141,480) | ||
Trade payables | (115,198) | (6,173) | ||
Employee benefits payables | (49,281) | (60,466) | ||
Sector financial liabilities | ||||
Other current liabilities | (1,230,804) | (1,384,091) | ||
Other non-current liabilities | (3,335,333) | (2,691,341) | ||
Total assets (net of liabilities) allocated by segment | 23,287,487 | 14,749,587 | ||
Shareholders' equity attributable to: | ||||
Equity attributable to owners of parent | 20,653,169 | 14,751,279 | ||
Non-controlling interests | 2,634,318 | (1,692) | ||
Total shareholders' equity | 23,287,487 | 14,749,587 | ||
Deconsolidation of joint venture [member] | ||||
Statement of financial position items: | ||||
Total assets | (109,894,718) | (110,136,182) | ||
Cash and cash equivalents | (4,902,800) | (5,034,788) | ||
Marketable securities | (126,206) | (154,052) | ||
Trade receivables | (10,316,720) | (7,618,176) | ||
Derivative financial instruments | (7,023,284) | (11,805,548) | ||
Inventories | (16,043,114) | (14,297,068) | ||
Sector financial assets | ||||
Other financial assets | (230,780) | (261,412) | ||
Other current assets | (10,285,568) | (12,545,650) | ||
Other non-current assets | (8,938,318) | (8,562,180) | ||
Investments in associates | ||||
Investment in joint venture | (1,371,430) | (1,317,720) | ||
Biological assets | (3,254,850) | (3,106,744) | ||
Property, plant and equipment | (25,210,448) | (22,506,160) | ||
Intangible assets and goodwill | (9,337,192) | (9,226,852) | ||
Contract asset | (3,297,856) | (2,941,390) | ||
Right-of-use assets | (9,556,152) | (10,758,442) | ||
Investment property | ||||
Liabilities | 83,814,462 | 84,736,772 | ||
Loans, borrowings and debentures | 33,551,302 | 26,967,092 | ||
Leases | 10,568,042 | 10,685,524 | ||
Derivative financial instruments | 4,909,074 | 12,377,276 | ||
Trade payables | 18,789,160 | 15,678,442 | ||
Employee benefits payables | 837,208 | 788,948 | ||
Sector financial liabilities | ||||
Other current liabilities | 7,176,122 | 9,591,918 | ||
Other non-current liabilities | 7,983,554 | 8,647,572 | ||
Total assets (net of liabilities) allocated by segment | (26,080,256) | (25,399,410) | ||
Shareholders' equity attributable to: | ||||
Equity attributable to owners of parent | (22,507,108) | (23,870,251) | ||
Non-controlling interests | (3,573,148) | (1,529,159) | ||
Total shareholders' equity | (26,080,256) | (25,399,410) | ||
Elimination of intersegment amounts [member] | ||||
Statement of financial position items: | ||||
Total assets | (17,253,179) | (14,704,943) | ||
Cash and cash equivalents | ||||
Marketable securities | ||||
Trade receivables | ||||
Derivative financial instruments | ||||
Inventories | ||||
Sector financial assets | ||||
Other financial assets | ||||
Other current assets | (1,167,488) | (668,153) | ||
Other non-current assets | (266,513) | (240,673) | ||
Investments in associates | (15,819,178) | (13,796,117) | ||
Investment in joint venture | ||||
Biological assets | ||||
Property, plant and equipment | ||||
Intangible assets and goodwill | ||||
Contract asset | ||||
Right-of-use assets | ||||
Investment property | ||||
Liabilities | 1,433,999 | 909,836 | ||
Loans, borrowings and debentures | ||||
Leases | ||||
Derivative financial instruments | ||||
Trade payables | ||||
Employee benefits payables | ||||
Sector financial liabilities | ||||
Other current liabilities | 609,462 | 148,171 | ||
Other non-current liabilities | 824,537 | 761,665 | ||
Total assets (net of liabilities) allocated by segment | (15,819,180) | (13,795,107) | ||
Shareholders' equity attributable to: | ||||
Equity attributable to owners of parent | (15,819,180) | (13,795,107) | ||
Non-controlling interests | ||||
Total shareholders' equity | R$ 15819180 | R$ 13795107 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of operating segments [line items] | ||||
Revenue | R$ 39737368 | R$ 25865001 | R$ 20437835 | |
Operating segments [member] | Raízen | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 244,293,722 | 175,047,270 | 118,049,722 | |
Operating segments [member] | Raízen | Ethanol [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 29,652,112 | 27,464,271 | 19,625,060 | |
Operating segments [member] | Raízen | Sugar [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 23,695,768 | 13,946,480 | 10,241,141 | |
Operating segments [member] | Raízen | Gasoline [Member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 66,586,914 | 55,158,035 | 36,127,017 | |
Operating segments [member] | Raízen | Diesel [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 106,684,577 | 71,828,092 | 46,967,219 | |
Operating segments [member] | Raízen | Cogeneration [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 3,688,108 | 3,968,947 | 2,282,158 | |
Operating segments [member] | Raízen | Other [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 13,986,243 | 7,288,547 | 2,807,127 | |
Operating segments [member] | Gas and Power [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 20,133,787 | 12,330,209 | 9,093,170 | |
Operating segments [member] | Gas and Power [member] | Natural gas distribution [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 19,895,243 | 11,709,714 | 8,317,691 | |
Operating segments [member] | Gas and Power [member] | Electricity trading [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 238,544 | 620,495 | 775,479 | |
Operating segments [member] | Gas and Power [member] | Cogeneration [member] | Natural gas distribution [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 970,208 | 637,489 | 389,732 | |
Operating segments [member] | Gas and Power [member] | Other [member] | Natural gas distribution [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 408,431 | 242,226 | 59,104 | |
Operating segments [member] | Gas and Power [member] | Industrial [member] | Natural gas distribution [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 13,460,397 | 7,386,258 | 5,030,738 | |
Operating segments [member] | Gas and Power [member] | Residential [member] | Natural gas distribution [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 2,103,984 | 1,610,286 | 1,381,597 | |
Operating segments [member] | Gas and Power [member] | Automotive [member] | Natural gas distribution [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 958,363 | 364,664 | 220,130 | |
Operating segments [member] | Gas and Power [member] | Commercial [member] | Natural gas distribution [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 776,042 | 448,615 | 350,760 | |
Operating segments [member] | Gas and Power [member] | Construction revenue [member] | Natural gas distribution [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 1,217,818 | 1,020,176 | 885,630 | |
Operating segments [member] | Moove [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 8,980,077 | 6,112,457 | 4,415,575 | |
Operating segments [member] | Moove [member] | Finished product [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 8,094,216 | 5,088,102 | 3,891,551 | |
Operating segments [member] | Moove [member] | Basic oil [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 596,443 | 457,991 | 392,153 | |
Operating segments [member] | Moove [member] | Services [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 289,418 | 566,364 | 131,871 | |
Operating segments [member] | Logistics [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 9,841,508 | 7,439,632 | 6,966,159 | |
Operating segments [member] | Logistics [member] | North Operation [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 7,635,243 | 5,479,583 | 5,270,436 | |
Operating segments [member] | Logistics [member] | South Operation [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 1,739,391 | 1,624,084 | 1,409,872 | |
Operating segments [member] | Logistics [member] | Container Operations [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 466,874 | 335,965 | 285,851 | |
Operating segments [member] | Cosan Investments | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 834,616 | 31,502 | ||
Operating segments [member] | Cosan Investments | Lease and sale of lands | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 834,616 | 31,502 | ||
Operating segments [member] | Other investments [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 10,416 | |||
Operating segments [member] | Other investments [member] | Digital platforms [Member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 2,804 | |||
Operating segments [member] | Other investments [member] | Logistic services [Member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 7,612 | |||
Unallocated amounts [member] | Cosan Corporate [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 8,292 | 818 | ||
Deconsolidation of joint venture and eliminations [Member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | (244,356,758) | (175,104,361) | (118,087,609) | |
Elimination of intersegment amounts [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | (63,036) | (57,091) | (37,887) | |
Elimination of intersegment amounts [member] | Raízen | ||||
Disclosure of operating segments [line items] | ||||
Revenue | R$ 4607102 | [1] | ||
[1]On June 1, 2021, Raízen S.A. started to consolidate Raízen Energia and, with that, the balances between the entities started to be presented net. |
SEGMENT INFORMATION - Summary_4
SEGMENT INFORMATION - Summary of Information on Geographical Area (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of geographical areas [line items] | ||||
Net sales | R$ 39737368 | R$ 25865001 | R$ 20437835 | |
Non-current assets | 11,989,268 | 12,568,096 | ||
Brazil [member] | ||||
Disclosure of geographical areas [line items] | ||||
Net sales | 34,128,831 | 22,529,634 | 18,100,012 | |
Non-current assets | 11,957,039 | 12,551,261 | ||
Europe [member] | ||||
Disclosure of geographical areas [line items] | ||||
Net sales | [1] | 3,080,840 | 2,551,739 | 1,867,284 |
Non-current assets | [1] | 7,762 | 10,515 | |
Latin America [member] | ||||
Disclosure of geographical areas [line items] | ||||
Net sales | [2] | 697,117 | 632,235 | 360,798 |
Non-current assets | [2] | 7,294 | 6,320 | |
North America [member] | ||||
Disclosure of geographical areas [line items] | ||||
Net sales | [3] | 1,770,487 | 81,384 | 62,760 |
Non-current assets | [3] | 17,173 | ||
Asia and Other [member] | ||||
Disclosure of geographical areas [line items] | ||||
Net sales | 60,093 | 70,009 | R$ 46981 | |
Non-current assets | ||||
[1]England, France, Spain and Portugal; and[2]Argentina, Bolívia, Uruguay and Paraguay and.[3]United States of America. |
SEGMENT INFORMATION - Additiona
SEGMENT INFORMATION - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Revenue from Major Customer | R$ 39737368 | R$ 25865001 | R$ 20437835 |
Rumo S.A. [member] | Major Customers [member] | |||
Disclosure of operating segments [line items] | |||
Percentage of net revenue | 2.17% | 2.57% | 3.11% |
Revenue from Major Customer | R$ 862650 | R$ 664034 | R$ 634836 |
FINANCIAL ASSETS AND LIABILIT_3
FINANCIAL ASSETS AND LIABILITIES - Summary of Carrying Amount of Financial Assets (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of financial assets [line items] | ||
Financial assets | R$ 44689969 | R$ 29914865 |
Fair value through profit or loss [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 27,474,786 | 17,544,839 |
Fair value through profit or loss [member] | Cash and cash equivalents [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,134,030 | 8,103,713 |
Fair value through profit or loss [member] | Marketable securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,099,766 | 4,388,007 |
Fair value through profit or loss [member] | Derivate financial instruments [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,151,752 | 4,732,926 |
Fair value through profit or loss [member] | Other financial assets [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 89,238 | 320,193 |
Amortized cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,215,183 | 12,370,026 |
Amortized cost | Cash and cash equivalents [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 12,167,686 | 8,070,417 |
Amortized cost | Trade receivables [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,927,542 | 2,745,853 |
Amortized cost | Restricted cash [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 139,933 | 58,990 |
Amortized cost | Receivables from related parties [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 476,542 | 416,491 |
Amortized cost | Sectorial financial assets [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 342,333 | 558,310 |
Amortized cost | Dividends and interest on equity receivable [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | R$ 161147 | R$ 519965 |
FINANCIAL ASSETS AND LIABILIT_4
FINANCIAL ASSETS AND LIABILITIES - Summary of Carrying Amount of Financial Liabilities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | R$ 73825192 | R$ 59932201 |
Amortized cost | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (37,167,241) | (38,641,440) |
Amortized cost | Loans, borrowings and debentures [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (21,620,197) | (25,444,437) |
Amortized cost | Trade payables [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (4,379,851) | (3,253,504) |
Amortized cost | Consideration payable [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (223,960) | (234,960) |
Amortized cost | Other financial liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (954,547) | (726,423) |
Amortized cost | Leases [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (3,532,158) | (3,267,678) |
Amortized cost | Railroad concession payable [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (3,351,410) | (3,054,248) |
Amortized cost | Payable to related parties [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (387,736) | (287,609) |
Amortized cost | Dividends payable [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (892,006) | (799,634) |
Amortized cost | Sectorial financial liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (1,616,616) | (1,372,283) |
Amortized cost | Installment of tax debts [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (208,760) | (200,664) |
Fair value through profit or loss [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (36,657,951) | (21,290,761) |
Fair value through profit or loss [member] | Loans, borrowings and debentures [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | (31,367,019) | (20,214,600) |
Fair value through profit or loss [member] | Derivate financial instruments [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | R$ 5290932 | R$ 1076161 |
FINANCIAL ASSETS AND LIABILIT_5
FINANCIAL ASSETS AND LIABILITIES - Summary of Carrying Amount of Financial Liabilities (Details) (Parenthetical) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of financial liabilities [line items] | |||
Finance costs | R$ 4706535 | R$ 2527506 | R$ 4727561 |
Rumo S.A. [member] | |||
Disclosure of financial liabilities [line items] | |||
Advance by suppliers with financial institutions | 519,082 | ||
Other financial liabilities [member] | |||
Disclosure of financial liabilities [line items] | |||
Finance costs | 96,752 | R$ 27155 | R$ 25264 |
Other financial liabilities [member] | Rumo S.A. [member] | |||
Disclosure of financial liabilities [line items] | |||
Advance by suppliers with financial institutions | R$ 710736 | ||
Average rate | 14.53% | 10.60% | |
Average payment term to suppliers | 109 days | 90 days | |
Advances received, representing contract liabilities for performance obligations satisfied at point in time | R$ 107133 | R$ 62070 | |
Other financial liabilities [member] | Moove [member] | |||
Disclosure of financial liabilities [line items] | |||
Advance by suppliers with financial institutions | R$ 64099 | R$ 57704 | |
Charges (p.a.) | CDI + 2.5% p.a. | CDI + 2.5% p.a. | |
Average payment term to suppliers | 102 days | 107 days | |
Other financial liabilities [member] | Compass [Member] | |||
Disclosure of financial liabilities [line items] | |||
Advances received, representing contract liabilities for performance obligations satisfied at point in time | R$ 72579 | R$ 91933 |
FINANCIAL ASSETS AND LIABILIT_6
FINANCIAL ASSETS AND LIABILITIES - Schedule of net debt (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
FINANCIAL ASSETS AND LIABILITIES | ||||
Loans and financing | R$ 52987216 | R$ 45659037 | R$ 42249460 | |
Financial instruments and derivatives on debt | 1,228,928 | (3,633,381) | ||
Debt instruments issued | 54,216,144 | 42,025,656 | ||
Cash and cash equivalents | (13,301,716) | (16,174,130) | R$ 13642918 | R$ 8472274 |
Marketable securities | (22,099,766) | (4,388,007) | ||
Cash and marketable securities | (35,401,482) | (20,562,137) | ||
Net debt | R$ 18814662 | R$ 21463519 |
FINANCIAL ASSETS AND LIABILIT_7
FINANCIAL ASSETS AND LIABILITIES - Schedule of financial clauses (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Debenture (11th, 12th, 13th and 14th) | |
Disclosure of detailed information about borrowings [line items] | |
Updated leverage ratio after extrapolation | 3.5 |
Leverage ratio | 3 |
Senior Notes Due 2032 [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Target rate of greenhouse gas emissions reduction per ton of useful kilometer by 2026 | 17.60% |
Target rate of greenhouse gas emissions reduction per ton of useful kilometer by 2030 | 21.60% |
Estimated Interest Rate Increase for Non Compliance for Fulfilment of Environment Goals | 4.45% |
Description of Estimated Interest Rate Increase for Non Compliance for Fulfilment of Environment Goals | 25 |
Debentures Second Issue [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Charges (p.a.) | IPCA + 4.52% |
Comgas [member] | Debentures fourth issue [member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Short-term debt / total debt (iii) cannot exceed 0.6x |
Comgas [member] | Debentures fourth issue [member] | Short-term debt / total debt cannot exceed 0.6x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 0.17% |
Comgas [member] | Debentures 4th to 9th issues [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings description of financial covenants | Net debt (i) / EBITDA (ii)cannot exceed 4.0x |
Comgas [member] | Debentures 4th to 9th issues [Member] | Net debt / EBITDA cannot exceed 4.0x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 1.64% |
Comgas [member] | BNDES Project VIII | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt (i) / EBITDA (ii)cannot exceed 4.0x |
Comgas [member] | BNDES Project VIII | Net debt / EBITDA cannot exceed 4.0x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 1.64% |
Comgas [member] | Resolution 4131 | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt (i) / EBITDA (ii)cannot exceed 4.0x |
Comgas [member] | Resolution 4131 | Net debt / EBITDA cannot exceed 4.0x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 1.64% |
Cosan S.A. [member] | Debentures 1St Issue [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt (i) / EBITDA (ii)cannot exceed 4.0x |
Cosan S.A. [member] | Debentures 1St Issue [Member] | Net debt / EBITDA cannot exceed 4.0x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 1.72% |
Cosan Luxembourg S A [member] | Senior notes due 2027 | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Proforma net debt (iv) / pro forma EBITDA (ii)|(iv)cannot exceed 3.5x |
Cosan Luxembourg S A [member] | Senior notes due 2027 | Proforma net debt / pro forma EBITDA cannot exceed 3.5x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 2.19% |
Cosan Luxembourg S A [member] | Senior notes due 2029 | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Proforma net debt (iv) / pro forma EBITDA (ii)|(iv)cannot exceed 3.5x |
Cosan Luxembourg S A [member] | Senior notes due 2029 | Proforma net debt / pro forma EBITDA cannot exceed 3.5x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 2.19% |
Rumo S.A. [member] | Debenture (11th, 12th, 13th and 14th) | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | ICJ (viii)= EBITDA / Finance result (v) cannot be less than 2.0x |
Rumo S.A. [member] | Debenture (11th, 12th, 13th and 14th) | ICJ = EBITDA / Finance result cannot be less than 2.0x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 2.87% |
Rumo S.A. [member] | ECA [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | ICJ (viii)= EBITDA / Finance result (v) cannot be less than 2.0x |
Rumo S.A. [member] | ECA [Member] | ICJ = EBITDA / Finance result cannot be less than 2.0x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 2.87% |
Rumo S.A. [member] | NC [Member] | Net debt / EBITDA cannot exceed 3.5x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 2.25% |
Rumo S.A. [member] | ECA Two [Member] | Net debt / EBITDA cannot exceed 3.5x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 2.25% |
Rumo S.A. [member] | Swaps Debentures | Net debt / EBITDA cannot exceed 3.5x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 2.25% |
Rumo Luxembourg Sarl [member] | Senior notes due 2028 | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt (i) / EBITDA (ii) cannot exceed 3.5x |
Rumo Luxembourg Sarl [member] | Senior notes due 2028 | Net debt / EBITDA cannot exceed 3.5x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 2.25% |
Rumo Luxembourg Sarl [member] | Senior Notes Due 2032 [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt (i) / EBITDA (ii) cannot exceed 3.5x |
Rumo Luxembourg Sarl [member] | Senior Notes Due 2032 [Member] | Net debt / EBITDA cannot exceed 3.5x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 2.25% |
Sulgás | BNDES Project VIII | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 0.35% |
Triggers | Short-term debt / Total debt (iii) cannot exceed 0.8x |
Sulgás | BNDES Project VIII | Short-term debt / Total debt cannot exceed 0.8x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 0.64% |
Brado Logistica S A [member] | BNDES Project VIII | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | ICSD (ix) cannot be less than 2.0x |
Borrowings description of financial covenants | Net debt (i)/ EBITDA (ii) cannot exceed 3.0x |
Brado Logistica S A [member] | BNDES Project VIII | ICSD cannot be less than 2.0x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 2.84% |
Brado Logistica S A [member] | BNDES Project VIII | Net debt / EBITDA cannot exceed 3.0x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 1.72% |
Brado Logistica S A [member] | NCE [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt (i) / EBITDA (ii) cannot exceed 3.3x |
Brado Logistica S A [member] | NCE [Member] | Net debt / EBITDA cannot exceed 3.3x | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 1.72% |
CLI [Member] | Syndicated Loans [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Triggers | Net debt (i) / EBITDA (ii) cannot exceed 3.5x at the end of each quarter |
Borrowings description of financial covenants | ICSD (ix) cannot be less than 2.5x at the end of each quarter |
CLI [Member] | Syndicated Loans [Member] | Net debt / EBITDA cannot exceed 3.5x at the end of each quarter | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 1.98% |
CLI [Member] | Syndicated Loans [Member] | ICSD cannot be less than 2.5x at the end of each quarter | |
Disclosure of detailed information about borrowings [line items] | |
Ratios | 4.42% |
Rumo Malha Paulista S.A. [member] | Swaps Debentures | |
Disclosure of detailed information about borrowings [line items] | |
Description of estimated interest rate decrease for compliance for fulfilment of environment goals | 25 |
Target rate of greenhouse gas emissions reduction per ton of useful kilometer by 2023 | 15% |
Charges (p.a.) | CDI + 1.54% |
FINANCIAL ASSETS AND LIABILIT_8
FINANCIAL ASSETS AND LIABILITIES - Summary of Cash and Cash Equivalents (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
FINANCIAL ASSETS AND LIABILITIES | ||||
Cash and bank accounts | R$ 307819 | R$ 98116 | ||
Savings account | 974,198 | 2,594,723 | ||
Financial investments | 12,019,699 | 13,481,291 | ||
Cash and cash equivalents | R$ 13301716 | R$ 16174130 | R$ 13642918 | R$ 8472274 |
FINANCIAL ASSETS AND LIABILIT_9
FINANCIAL ASSETS AND LIABILITIES - Summary of Financial Investments (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents1 [line items] | ||
Financial investments | R$ 12019699 | R$ 13481291 |
Applications in investment funds [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 1,304,332 | 8,103,713 |
Applications in investment funds [member] | Certificate of bank deposits - CDB [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 6,423,385 | |
Applications in investment funds [member] | Repurchase agreements [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 1,181,280 | 1,680,328 |
Applications in investment funds [member] | Others [Member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 123,052 | |
Applications in banks [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 10,715,367 | 5,377,578 |
Applications in banks [member] | Certificate of bank deposits - CDB [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 10,396,376 | 2,321,614 |
Applications in banks [member] | Repurchase agreements [member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | 96,841 | 974,494 |
Applications in banks [member] | Others [Member] | ||
Cash and cash equivalents1 [line items] | ||
Financial investments | R$ 222150 | R$ 2081470 |
FINANCIAL ASSETS AND LIABILI_10
FINANCIAL ASSETS AND LIABILITIES - Additional information (Detail) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 BRL (R$) | Dec. 31, 2021 BRL (R$) | |
Disclosure of Financial Resources [line items] | ||
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. | |
Unused line of credit | R$ 3052287 | R$ 3648023 |
Top of range [member] | ||
Disclosure of Financial Resources [line items] | ||
Period of fixed term of repurchase agreements | 90 days | |
Maturity period of bank deposit certificates classified as cash and cash equivalents | 90 days | |
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 | |
Applications in banks [member] | Others [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% | 100% |
Offshore financial investments remunerated rate | 100% | |
Rumo S A [member] | ||
Disclosure of Financial Resources [line items] | ||
Advance by suppliers with financial institutions | R$ 519082 |
FINANCIAL ASSETS AND LIABILI_11
FINANCIAL ASSETS AND LIABILITIES - Summary of Marketable Securities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of Marketable Securities [line items] | |||
Marketable securities | R$ 22099766 | R$ 4388007 | |
Current | 2,422,470 | 4,372,696 | |
Non-current | 19,677,296 | 15,311 | |
Financial investment in listed entities [Member] | |||
Disclosure of Marketable Securities [line items] | |||
Marketable securities | [1] | 19,586,193 | |
Government security [member] | |||
Disclosure of Marketable Securities [line items] | |||
Marketable securities | [2] | 2,421,297 | 4,371,645 |
ESG funds | |||
Disclosure of Marketable Securities [line items] | |||
Marketable securities | [3] | 91,103 | 15,311 |
Certificate of bank deposits - CDB [member] | |||
Disclosure of Marketable Securities [line items] | |||
Marketable securities | R$ 1173 | R$ 1051 | |
[1] According to Note 1.3 fair value through profit or loss The sovereign debt securities accrue interest linked to the Special System of Liquidation and Custody ( Especial de e ), or “SELIC” rate, with a yield of approximately 100% of the CDI. 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. |
FINANCIAL ASSETS AND LIABILI_12
FINANCIAL ASSETS AND LIABILITIES - Summary of Restricted Cash (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of Restricted Cash and Cash Equivalents [line items] | ||
Restricted cash | R$ 139933 | R$ 58990 |
Current | 8,024 | |
Non-current | 131,909 | 58,990 |
Securities pledged as collateral [member] | ||
Disclosure of Restricted Cash and Cash Equivalents [line items] | ||
Restricted cash | R$ 139933 | R$ 58990 |
FINANCIAL ASSETS AND LIABILI_13
FINANCIAL ASSETS AND LIABILITIES - Summary of Loans, Borrowings and Debentures (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about borrowings [line items] | |||
Loans and financing | R$ 52987216 | R$ 45659037 | R$ 42249460 |
Current | 4,542,205 | 4,241,368 | |
Non-current | 48,445,011 | 41,417,669 | |
Loans abroad | Prefixed [member] | 11/01/2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Loans, borrowings and debentures | |||
Secured | |||
Disclosure of detailed information about borrowings [line items] | |||
Loans, borrowings and debentures | R$ 17925055 | 7,911,356 | |
Secured | BNDES | URTJLP | 07/01/2031 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | URTJLP | ||
Interest Rate | 9.29% | ||
Loans, borrowings and debentures | R$ 2221900 | 2,598,623 | |
Maturity | 07/01/2031 | ||
Goal | Investments | ||
Secured | BNDES | Prefixed [member] | 01/01/2025 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 5.86% | ||
Loans, borrowings and debentures | R$ 280919 | 461,756 | |
Maturity | 01/01/2025 | ||
Goal | Investments | ||
Secured | BNDES | Prefixed [member] | 01/01/2024 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 3.50% | ||
Loans, borrowings and debentures | R$ 378 | 727 | |
Maturity | 01/01/2024 | ||
Goal | Investments | ||
Secured | BNDES | IPCA + 3.25% | 01/04/2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 3.25% | ||
Interest Rate | 9.50% | ||
Loans, borrowings and debentures | R$ 1653501 | 945,663 | |
Maturity | 01/04/2029 | ||
Goal | Investments | ||
Secured | BNDES | IPCA + 4.10% | 01/04/2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 4.10% | ||
Interest Rate | 10.40% | ||
Loans, borrowings and debentures | R$ 131885 | 154,843 | |
Maturity | 01/04/2029 | ||
Goal | Investments | ||
Secured | BNDES | IPCA + 5.74% | 04/01/2036 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 5.74% | ||
Interest Rate | 12.14% | ||
Loans, borrowings and debentures | R$ 544925 | ||
Maturity | 04/01/2036 | ||
Goal | Investments | ||
Secured | Export Credit Agency (“ECA”) | IPCA + 4.10% | 01/01/2030 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 4.10% | ||
Interest Rate | 18.47% | ||
Loans, borrowings and debentures | R$ 73717 | ||
Maturity | 01/01/2030 | ||
Goal | Investments | ||
Secured | Export Credit Agency (“ECA”) | Euribor + 0.58% | 09/01/2026 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Euribor + 0.58% | ||
Interest Rate | 1.94% | ||
Loans, borrowings and debentures | R$ 68455 | 95,460 | |
Maturity | 09/01/2026 | ||
Goal | Investments | ||
Secured | Resolution 4,131 | Prefixed [member] | 10-01-2025 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 3.20% | ||
Loans, borrowings and debentures | R$ 2009452 | ||
Maturity | 10/01/2025 | ||
Goal | Investments | ||
Secured | Resolution 4,131 | Prefixed [member] | 11/01/2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | |||
Loans, borrowings and debentures | 148,932 | ||
Maturity | 11/01/2022 | ||
Goal | Working capital | ||
Secured | Resolution 4,131 | Prefixed [member] | 10/01/2024 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 2.95% | ||
Loans, borrowings and debentures | R$ 868367 | ||
Maturity | 10/01/2024 | ||
Goal | Investments | ||
Secured | Resolution 4,131 | Prefixed [member] | 10-01-2024 one | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 0.25% | ||
Loans, borrowings and debentures | R$ 578708 | ||
Maturity | 10/01/2024 | ||
Goal | Investments | ||
Secured | Resolution 4,131 | Prefixed [member] | 10-01-2025 one | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 0.25% | ||
Loans, borrowings and debentures | R$ 1338697 | ||
Maturity | 10/01/2025 | ||
Goal | Investments | ||
Secured | Resolution 4,131 | Prefixed [member] | 10-01-2026 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 3.40% | ||
Loans, borrowings and debentures | R$ 1966061 | ||
Maturity | 10/01/2026 | ||
Goal | Investments | ||
Secured | Resolution 4,131 | Prefixed [member] | 10-01-2026 one | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 0.25% | ||
Loans, borrowings and debentures | R$ 1309330 | ||
Maturity | 10/01/2026 | ||
Goal | Investments | ||
Secured | Resolution 4,131 | Prefixed [member] | 10/01/2027 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 3.56% | ||
Loans, borrowings and debentures | R$ 816172 | ||
Maturity | 10/01/2027 | ||
Goal | Investments | ||
Secured | Resolution 4,131 | Prefixed [member] | 10-01-2027 one | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 0.25% | ||
Loans, borrowings and debentures | R$ 543160 | ||
Maturity | 10/01/2027 | ||
Goal | Investments | ||
Secured | Swaps Debentures | CDI + 1.79% | 06/01/2027 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 1.79% | ||
Interest Rate | 15.68% | ||
Loans, borrowings and debentures | R$ 754785 | 753,770 | |
Maturity | 06/01/2027 | ||
Goal | Investments | ||
Secured | Swaps Debentures | CDI + 1.30% | 10/01/2027 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 1.30% | ||
Interest Rate | 15.13% | ||
Loans, borrowings and debentures | R$ 759175 | 746,725 | |
Maturity | 10/01/2027 | ||
Goal | Investments | ||
Secured | Swaps Debentures | IPCA + 4.77% | 06/01/2031 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 4.77% | ||
Interest Rate | 10.63% | ||
Loans, borrowings and debentures | R$ 632440 | 694,898 | |
Maturity | 06/01/2031 | ||
Goal | Investments | ||
Secured | Export Credit Note | CDI + 2.25% | 01/05/2026 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 2.25% | ||
Interest Rate | 16.81% | ||
Loans, borrowings and debentures | R$ 62760 | 60,700 | |
Maturity | 01/05/2026 | ||
Goal | Investments | ||
Secured | Export Credit Note | CDI + 0.80% | 12/01/2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 0.80% | ||
Interest Rate | 14.56% | ||
Loans, borrowings and debentures | R$ 355770 | 515,928 | |
Maturity | 12/01/2023 | ||
Goal | Investments | ||
Secured | Export Credit Note | CDI + 2.07% | 03/01/2025 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 2.07% | ||
Interest Rate | 16.33% | ||
Loans, borrowings and debentures | R$ 50467 | ||
Maturity | 03/01/2025 | ||
Goal | Working capital | ||
Secured | Export Credit Note | CDI + 1.03% | 02/01/2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 1.03% | ||
Interest Rate | 14.84% | ||
Loans, borrowings and debentures | R$ 98003 | 86,707 | |
Maturity | 02/01/2023 | ||
Goal | Investments | ||
Secured | Bank credit note | IPCA [member] | 01/01/2048 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA | ||
Interest Rate | 6.59% | ||
Loans, borrowings and debentures | R$ 806028 | 646,624 | |
Maturity | 01/01/2048 | ||
Goal | Investments | ||
Unsecured | |||
Disclosure of detailed information about borrowings [line items] | |||
Loans, borrowings and debentures | R$ 35062161 | 37,747,681 | |
Unsecured | Resolution 4,131 | Prefixed [member] | 02/01/2025 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 2.13% | ||
Loans, borrowings and debentures | R$ 1000957 | ||
Maturity | 02/01/2025 | ||
Goal | Investments | ||
Unsecured | Resolution 4,131 | Prefixed [member] | 05/01/2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 5.50% | ||
Loans, borrowings and debentures | R$ 45124 | ||
Maturity | 05/01/2023 | ||
Goal | Investments | ||
Unsecured | Resolution 4,131 | Prefixed [member] | 05-01-2023 one | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 3.67% | ||
Loans, borrowings and debentures | R$ 395285 | 438,823 | |
Maturity | 05/01/2023 | ||
Goal | Investments | ||
Unsecured | Resolution 4,131 | Prefixed [member] | 02/01/2024 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 1.36% | ||
Loans, borrowings and debentures | R$ 377705 | 414,378 | |
Maturity | 02/01/2024 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | CDI + 1.50% | 05/01/2028 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 1.50% | ||
Interest Rate | 15.35% | ||
Loans, borrowings and debentures | R$ 407308 | ||
Maturity | 05/01/2028 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 4.68% | 02/01/2026 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 4.68% | ||
Interest Rate | 10.53% | ||
Loans, borrowings and debentures | R$ 518680 | 543,752 | |
Maturity | 02/01/2026 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 4.50% | 02/01/2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 4.50% | ||
Interest Rate | 10.34% | ||
Loans, borrowings and debentures | R$ 1523382 | 1,483,873 | |
Maturity | 02/01/2029 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 3.60% | 12/01/2030 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 3.60% | ||
Interest Rate | 9.39% | ||
Loans, borrowings and debentures | R$ 367476 | 361,862 | |
Maturity | 12/01/2030 | ||
Goal | Working capital | ||
Unsecured | Swaps Debentures | CDI + 2.65% | 08/01/2025 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 2.65% | ||
Interest Rate | 16.66% | ||
Loans, borrowings and debentures | R$ 1819837 | 1,858,837 | |
Maturity | 08/01/2025 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 6.80% | 04/01/2030 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 6.80% | ||
Interest Rate | 12.77% | ||
Loans, borrowings and debentures | R$ 893852 | 891,972 | |
Maturity | 04/01/2030 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 3.90% | 10/01/2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 3.90% | ||
Interest Rate | 9.71% | ||
Loans, borrowings and debentures | R$ 1048252 | 1,018,844 | |
Maturity | 10/01/2029 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 5.73% | 10/01/2033 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 5.73% | ||
Interest Rate | 11.64% | ||
Loans, borrowings and debentures | R$ 537261 | 505,584 | |
Maturity | 10/01/2033 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 4.00% | 12/01/2035 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 4.00% | ||
Interest Rate | 9.81% | ||
Loans, borrowings and debentures | R$ 941203 | 952,671 | |
Maturity | 12/01/2035 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 4.54% | 06/01/2036 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 4.54% | ||
Interest Rate | 10.38% | ||
Loans, borrowings and debentures | R$ 80987 | 126,668 | |
Maturity | 06/01/2036 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 7.48% | 12/01/2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 7.48% | ||
Interest Rate | |||
Loans, borrowings and debentures | 165,478 | ||
Maturity | 12/01/2022 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 7.36% | 12/01/2025 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 7.36% | ||
Interest Rate | 13.86% | ||
Loans, borrowings and debentures | R$ 114014 | 108,451 | |
Maturity | 12/01/2025 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 5.87% | 12/01/2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 5.87% | ||
Interest Rate | 12.28% | ||
Loans, borrowings and debentures | R$ 907366 | 873,474 | |
Maturity | 12/01/2023 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 4.33% | 10/01/2024 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 4.33% | ||
Interest Rate | 10.64% | ||
Loans, borrowings and debentures | R$ 523837 | 501,278 | |
Maturity | 10/01/2024 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IGPM + 6.10% | 05/01/2028 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IGPM + 6.10% | ||
Interest Rate | 12.36% | ||
Loans, borrowings and debentures | R$ 372171 | 352,235 | |
Maturity | 05/01/2028 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | CDI + 0.50% | 10/01/2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI +0.50% | ||
Interest Rate | |||
Loans, borrowings and debentures | 2,033,161 | ||
Maturity | 10/01/2022 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | CDI + 1.95% | 08/01/2024 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 1.95% | ||
Interest Rate | 15.87% | ||
Loans, borrowings and debentures | R$ 824866 | 717,651 | |
Maturity | 08/01/2024 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 5.12% | 08/01/2031 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 5.12% | ||
Interest Rate | 11.48% | ||
Loans, borrowings and debentures | R$ 491153 | 484,974 | |
Maturity | 08/01/2031 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 5.22% | 08/01/2036 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 5.22% | ||
Interest Rate | 11.59% | ||
Loans, borrowings and debentures | R$ 467841 | 477,578 | |
Maturity | 08/01/2036 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 5.75% | 08/01/2031 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 5.75% | ||
Interest Rate | 12.15% | ||
Loans, borrowings and debentures | R$ 394008 | 374,761 | |
Maturity | 08/01/2031 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | CDI + 1.65% | 08/01/2028 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 1.65% | ||
Interest Rate | 15.53% | ||
Loans, borrowings and debentures | R$ 787519 | 774,215 | |
Maturity | 08/01/2028 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | CDI + 2.00% | 08/01/2031 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 2.00% | ||
Interest Rate | 15.92% | ||
Loans, borrowings and debentures | R$ 946379 | 930,301 | |
Maturity | 08/01/2031 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | CDI + 1.45% | 12/01/2026 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 1.45% | ||
Interest Rate | 15.30% | ||
Loans, borrowings and debentures | R$ 399616 | ||
Maturity | 12/01/2026 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | CDI + 1.90% | 01/05/2032 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 1.90% | ||
Interest Rate | 15.81% | ||
Loans, borrowings and debentures | R$ 1120577 | ||
Maturity | 01/05/2032 | ||
Goal | Investments | ||
Unsecured | Swaps Debentures | IPCA + 5.99% | 06/01/2032 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | IPCA + 5.99% | ||
Interest Rate | 11.91% | ||
Loans, borrowings and debentures | R$ 435780 | ||
Maturity | 06/01/2032 | ||
Goal | Investments | ||
Unsecured | Senior notes due 2023 | Prefixed [member] | 03/01/2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | |||
Loans, borrowings and debentures | 685,550 | ||
Maturity | 03/01/2023 | ||
Goal | Acquisition | ||
Unsecured | Senior notes due 2025 | Prefixed [member] | 01-01-2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | |||
Loans, borrowings and debentures | 2,981,335 | ||
Maturity | 01/01/2022 | ||
Goal | Acquisition | ||
Unsecured | Senior notes due 2027 | Prefixed [member] | 01/01/2027 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 7% | ||
Loans, borrowings and debentures | R$ 3587265 | 4,305,928 | |
Maturity | <span>01/01/202</span>7 | ||
Goal | Acquisition | ||
Unsecured | Senior notes due 2028 | Prefixed [member] | 01/01/2028 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 5.25% | ||
Loans, borrowings and debentures | R$ 2196083 | 2,700,621 | |
Maturity | 01/01/2028 | ||
Goal | Acquisition | ||
Unsecured | Senior notes due 2029 | Prefixed [member] | 09/01/2029 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 5.50% | ||
Loans, borrowings and debentures | R$ 3953564 | 4,226,142 | |
Maturity | 09/01/2029 | ||
Goal | Acquisition | ||
Unsecured | Senior Notes Due 2032 [Member] | Prefixed [member] | 01/01/2032 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 4.20% | ||
Loans, borrowings and debentures | R$ 2124051 | 2,800,716 | |
Maturity | 01/01/2032 | ||
Goal | Acquisition | ||
Unsecured | Prepayment | 3M Libor + 1.00% | 10/01/2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | 3M Libor + 1.00% | ||
Interest Rate | 1.59% | ||
Loans, borrowings and debentures | R$ 104667 | 111,955 | |
Maturity | 10/01/2023 | ||
Goal | Working capital | ||
Unsecured | Prepayment | 1.27% | 7/1/2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | 1.27% | ||
Interest Rate | 1.27% | ||
Loans, borrowings and debentures | R$ 151871 | 166,355 | |
Maturity | 7/1/2023 | ||
Goal | Working capital | ||
Unsecured | Working capital | CDI + 1.60% | 06/01/2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | CDI + 1.60% | ||
Interest Rate | 15.47% | ||
Loans, borrowings and debentures | R$ 100170 | 100,157 | |
Maturity | 06/01/2023 | ||
Goal | Working capital | ||
Unsecured | Working capital | SOFR + 1.50% | 05/01/2027 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | SOFR + 1.50% | ||
Interest Rate | 1.50% | ||
Loans, borrowings and debentures | R$ 2334615 | ||
Maturity | 05/01/2027 | ||
Goal | Acquisition | ||
Unsecured | Promissory Notes | Prefixed [member] | 11/01/2040 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 8.25% | ||
Loans, borrowings and debentures | R$ 2641732 | 2,825,420 | |
Maturity | 11/01/2040 | ||
Goal | Acquisition | ||
Unsecured | Loans abroad | Prefixed [member] | 12/01/2023 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | 1.90% | ||
Loans, borrowings and debentures | R$ 125707 | 150,649 | |
Maturity | 12/01/2023 | ||
Goal | Investments | ||
Unsecured | Loans abroad | Prefixed [member] | 11/01/2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | |||
Loans, borrowings and debentures | 37,674 | ||
Maturity | 11/01/2022 | ||
Goal | Working capital | ||
Unsecured | Loans abroad | Prefixed [member] | 09/01/2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | Prefixed | ||
Interest Rate | |||
Loans, borrowings and debentures | 857 | ||
Maturity | 09/01/2022 | ||
Goal | Investments | ||
Unsecured | Loans abroad | 6M Libor + 1.50% | 12/01/2022 | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest, Index | 6M Libor + 1.50% | ||
Interest Rate | |||
Loans, borrowings and debentures | R$ 263501 | ||
Maturity | 12/01/2022 | ||
Goal | Acquisition |
FINANCIAL ASSETS AND LIABILI_14
FINANCIAL ASSETS AND LIABILITIES - Summary of Loans, Borrowings and Debentures (Details) (Parentheticals) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about borrowings [line items] | ||
Minimum Period for Unconditional Right to Defer Settlement | 1 year | |
Aggregate principal amount | R$ 6391961 | |
Weighted average | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 7.20% | 5.32% |
CDI | Weighted average | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 13.65% | 9.15% |
Senior Notes Due 2032 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Description of estimated interest rate increase for non-compliance for fulfilment of environment goals | 25 | |
Estimated interest rate increase for non-compliance for fulfilment of environment goals | 4.45% |
FINANCIAL ASSETS AND LIABILI_15
FINANCIAL ASSETS AND LIABILITIES - Summary of Non-current Borrowings (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about borrowings [line items] | ||
Loans, financing and debentures | R$ 48445011 | R$ 41417669 |
1 to 2 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loans, financing and debentures | 4,534,638 | 4,339,743 |
2 to 3 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loans, financing and debentures | 6,663,907 | 2,968,458 |
3 to 4 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loans, financing and debentures | 5,631,841 | 4,029,690 |
4 to 5 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loans, financing and debentures | 8,550,932 | 984,015 |
5 to 6 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loans, financing and debentures | 4,836,087 | 6,902,914 |
6 to 7 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loans, financing and debentures | 6,527,516 | 4,701,952 |
7 to 8 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loans, financing and debentures | 2,180,672 | 6,595,854 |
Over 8 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Loans, financing and debentures | R$ 9519418 | R$ 10895043 |
FINANCIAL ASSETS AND LIABILI_16
FINANCIAL ASSETS AND LIABILITIES - Summary of Carrying in Loans, Borrowings and Debentures (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about borrowings [line items] | |||
Loans, financing, and debt | R$ 52987216 | R$ 45659037 | R$ 42249460 |
Real (R$) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Loans, financing, and debt | 24,450,190 | 23,304,742 | |
U.S. Dollar (U.S.$) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Loans, financing, and debt | 18,912,917 | 21,806,154 | |
Euro (EUR) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Loans, financing, and debt | 5,728,508 | 96,317 | |
Yen (YEN) [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Loans, financing, and debt | 3,769,894 | ||
Pound Sterling (GBP) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Loans, financing, and debt | R$ 125707 | R$ 451824 |
FINANCIAL ASSETS AND LIABILI_17
FINANCIAL ASSETS AND LIABILITIES - Summary of Changes in Loans, Borrowings and Debentures (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
FINANCIAL ASSETS AND LIABILITIES | ||||
Beginning Balance | R$ 45659037 | R$ 42249460 | ||
Business combination (Note 8.3) | 12,825 | |||
Proceeds | 23,886,960 | [1] | 12,548,547 | |
Repayment of principal | (15,278,378) | [1] | (9,925,067) | |
Payment of interest on loans, borrowings and debentures | (3,441,978) | (2,321,868) | R$ 1782976 | |
Interest, exchange rate and fair value | 2,148,750 | 3,107,965 | ||
Ending balance | R$ 52987216 | R$ 45659037 | R$ 42249460 | |
[1] The presented values are primarily attributable to borrowings obtained in connection with the acquisition of Vale’s shares. See Note 1.3 |
FINANCIAL ASSETS AND LIABILI_18
FINANCIAL ASSETS AND LIABILITIES - Loans, borrowings and debentures - Additional information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about borrowings [line items] | |||
Unused line of credit | R$ 3052287 | R$ 3648023 | |
Lessee’s incremental borrowing rate applied to the lease liabilities | 10.90% | 14.20% | |
Period of lease term of short-term leases | 12 months | ||
Lease liabilities | R$ 3532158 | R$ 3267678 | R$ 3001847 |
Weighted average | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest Rate | 7.20% | 5.32% | |
Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Hedged risk position percentage | 60% | ||
Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Hedged risk position percentage | 140% | ||
CLI [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance of bank guarantees contracted | R$ 44813 | ||
CDI | Weighted average | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest Rate | 13.65% | 9.15% | |
Senior Notes Due 2032 | |||
Disclosure of detailed information about borrowings [line items] | |||
Description of estimated interest rate increase for non-compliance for fulfilment of environment goals | 25 | ||
Estimated interest rate increase for non-compliance for fulfilment of environment goals | 4.45% | ||
Cosan Lubrificantes S.R.L [member] | CLI [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Bank guarantee rate | 0.18% | ||
Firstrate Banks [Member] | CLI [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Bank guarantee rate | 3.90% | ||
Secured | Rumo S.A. [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance of bank guarantees contracted | R$ 3037453 | R$ 3328076 | |
Secured | Rumo S.A. [member] | Weighted average | |||
Disclosure of detailed information about borrowings [line items] | |||
Bank guarantee rate | 0.66% |
FINANCIAL ASSETS AND LIABILI_19
FINANCIAL ASSETS AND LIABILITIES - Summary of movement of leases (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Movement Of Leases [Line Items] | ||
Beginning balance | R$ 3267678 | R$ 3001847 |
Business Combination (note 8.3) | 174,229 | 3,281 |
Additions | 224,714 | 142,562 |
Write-offs | (116,157) | |
Interest | 377,449 | 426,313 |
Repayment of principal | (400,248) | (461,040) |
Payment of interest | (211,611) | (165,301) |
Monetary adjustment | 221,077 | 374,155 |
Transfer between liabilities | (4,973) | (54,139) |
Ending balance | 3,532,158 | R$ 3267678 |
Current | 550,529 | |
Non-current | R$ 2981629 |
FINANCIAL ASSETS AND LIABILI_20
FINANCIAL ASSETS AND LIABILITIES - Summary of lease expense (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
FINANCIAL ASSETS AND LIABILITIES | |||
Variable lease payments not included in the recognition of lease obligations | R$ 56612 | R$ 35482 | R$ 24045 |
Expenses related to short-term leases | 14,986 | 30,507 | 34,101 |
Low asset leasing costs, excluding short-term leases | 1,445 | 978 | 1,547 |
Lease expense | R$ 73043 | R$ 66967 | R$ 59693 |
FINANCIAL ASSETS AND LIABILI_21
FINANCIAL ASSETS AND LIABILITIES - Summary of Derivative Financial Instruments (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of detailed information about financial instruments [line items] | ||||
Total financial instruments | R$ 1139180 | R$ 3656765 | ||
Current assets | 1,086,698 | 194,878 | ||
Non-current assets | 3,065,054 | 4,538,048 | ||
Current liabilities | (1,039,357) | (925,650) | ||
Non-current liabilities | (4,251,575) | (150,511) | ||
Total | (1,139,180) | 3,656,765 | ||
Notional | 6,391,961 | |||
Mark-to-market income | (6,489,668) | (188,956) | R$ 5594511 | |
CSAN3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | R$ 1265790 | |||
The contracted value of CSAN3 shares with total return swap (in shares) | 77,236,212 | |||
RAIL3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | R$ 244647 | |||
The contracted value of CSAN3 shares with total return swap (in shares) | 15,440,900 | |||
Swap agreements (TRS) [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Mark-to-market income | R$ 375693 | 57,704 | ||
Foreign exchange rate derivatives [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | 729,226 | 3,313,428 | ||
Fair value | 46,619 | 21,305 | ||
Foreign exchange rate derivatives [member] | Forward agreements [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [1] | 53,012 | 3,313,428 | |
Fair value | [1] | (485) | 21,305 | |
Foreign exchange rate derivatives [member] | FX option agreements [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | 676,214 | |||
Fair value | 25,360 | |||
Foreign exchange rate derivatives [member] | Commodity Option Agreements [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [2] | |||
Fair value | [2] | 21,744 | ||
Electricity derivatives [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | 1,407,476 | |||
Fair value | (248,123) | |||
Electricity derivatives [member] | Forward agreements [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | 1,407,476 | |||
Fair value | (248,123) | |||
Foreign exchange and interest rate risk [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | 49,328,118 | 22,834,306 | ||
Fair value | 895,030 | 3,613,121 | ||
Foreign exchange and interest rate risk [member] | Swap agreements (interest) [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [3] | 9,255,278 | 3,019,917 | |
Fair value | [3] | (155,518) | 154,654 | |
Foreign exchange and interest rate risk [member] | Swap agreements (interest and FX) [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [4] | 17,191,070 | 13,223,981 | |
Fair value | [4] | 790,840 | 3,380,554 | |
Foreign exchange and interest rate risk [member] | Forward agreements (interest and FX) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [5] | 12,811,427 | ||
Fair value | [5] | 760,152 | ||
Foreign exchange and interest rate risk [member] | Swap agreements (interest and inflation) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [3] | 10,070,343 | 6,590,408 | |
Fair value | [3] | (500,444) | 77,913 | |
Share Price Risk [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | 24,041,701 | 1,074,113 | ||
Fair value | (2,080,829) | 270,462 | ||
Share Price Risk [Member] | Swap agreements (TRS) [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [6] | 1,515,827 | 1,074,113 | |
Fair value | [6] | 43,130 | 270,462 | |
Share Price Risk [Member] | Call Spread [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [5] | 5,594,212 | ||
Fair value | [5] | 1,954,493 | ||
Share Price Risk [Member] | Collar (Vale Shares) [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Notional | [5] | 16,931,662 | ||
Fair value | [5] | R$ 4078452 | ||
[1]To hedge exposures and expenses in foreign currency, the Company and its subsidiaries have foreign exchange forward agreements and/or options indexed to foreign exchange.[2] Call options on Brent for hedging purposes, intended to provide protection in the event that the commodity's price rises above the agreed-upon price due to the Russia-Ukraine war. The Company structured derivatives to protect against exposure to pre-fixed interest in in order to convert such debt into floating rate debt. The Company and its subsidiary conduct interest and foreign exchange swap operations, making the Company active in U.S. Dollar + fixed interest and passive in a portion of the CDI. In interest and inflation Swap operations, the Company is active in IPCA + fixed interest and passive in CDI percentage. The Company structured derivatives, as described in Note 1.3 The Company entered into a Total Return Swap ("TRS") agreement with commercial banks. According to the TRS, which will have a financial settlement, will receive the return on the price variation of CSAN 3 3 3 3 3 The Company's fair value loss on the TRS for the year ended December 31, 2022 was R$375,693 (a fair value gain of R$57,704 on December 31, 2021). |
FINANCIAL ASSETS AND LIABILI_22
FINANCIAL ASSETS AND LIABILITIES - Summary of the opening value of derivative debt and non-debt derivative financial instruments (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | R$ 1139180 | R$ 3656765 |
Derivative financial instruments on debt [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | (1,228,928) | 3,633,381 |
Non-debt derivative financial instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | R$ 89748 | R$ 23384 |
FINANCIAL ASSETS AND LIABILI_23
FINANCIAL ASSETS AND LIABILITIES - Summary of foreign currency-related hedging instruments and interest rate swaps (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | R$ 6391961 | ||
Loans, financing and debentures | (52,987,216) | R$ 45659037 | R$ 42249460 |
Fair value hedges [member] | FX rate risk | Designated as Hedging Instruments [Member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (5,319,175) | ||
Loans, financing and debentures | (4,581,685) | (5,639,560) | |
Accumulated fair value adjustment of Debt | (960,368) | 449,390 | |
Notional amount of derivatives | 5,319,175 | ||
Hedging instrument, assets | (565,806) | 942,098 | |
Derivative hedging instruments accumulated fair value adjustment | 1,471,612 | 832,788 | |
Notional amount of hedging instruments | |||
Net currency and interest rate instruments | (5,147,491) | (4,697,462) | |
Net accumulated fair value adjustment of currency and interest rate instruments | 511,244 | 1,282,178 | |
Fair value hedges [member] | FX rate risk | Designated as Hedging Instruments [Member] | Swaps senior 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 | |||
Derivative hedging instruments accumulated fair value adjustment | (120,326) | ||
Fair value hedges [member] | FX rate risk | Designated as Hedging Instruments [Member] | Swaps senior 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 | (418,674) | 266,526 | |
Derivative hedging instruments accumulated fair value adjustment | 685,200 | 277,542 | |
Fair value hedges [member] | FX rate risk | Designated as Hedging Instruments [Member] | Swaps senior 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 | (128,986) | 675,572 | |
Derivative hedging instruments accumulated fair value adjustment | 804,558 | 675,572 | |
Fair value hedges [member] | FX rate risk | Designated as Hedging Instruments [Member] | Swap PPE 1 | Moove [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | 157,800 | ||
Hedging instrument, assets | (11,079) | ||
Derivative hedging instruments accumulated fair value adjustment | (11,079) | ||
Fair value hedges [member] | FX rate risk | Designated as Hedging Instruments [Member] | Swap PPE 2 | Moove [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | 110,400 | ||
Hedging instrument, assets | (7,067) | ||
Derivative hedging instruments accumulated fair value adjustment | (7,067) | ||
Fair value hedges [member] | FX rate risk | 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 | |||
Loans, financing and debentures | |||
Accumulated fair value adjustment of Debt | 355,409 | ||
Fair value hedges [member] | FX rate risk | 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 | (2,196,083) | (2,700,621) | |
Accumulated fair value adjustment of Debt | (336,161) | 108,756 | |
Fair value hedges [member] | FX rate risk | 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 | (2,259,375) | ||
Loans, financing and debentures | (2,124,051) | (2,938,939) | |
Accumulated fair value adjustment of Debt | (629,220) | (14,775) | |
Fair value hedges [member] | FX rate risk | Designated as Hedging Instruments [Member] | PPE 1 [member] | Moove [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (157,800) | ||
Loans, financing and debentures | (156,884) | ||
Accumulated fair value adjustment of Debt | 2,389 | ||
Fair value hedges [member] | FX rate risk | Designated as Hedging Instruments [Member] | PPE 2 [member] | Moove [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (110,400) | ||
Loans, financing and debentures | (104,667) | ||
Accumulated fair value adjustment of Debt | 2,624 | ||
Fair value hedges [member] | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (8,495,755) | ||
Loans, financing and debentures | (8,328,215) | (7,154,997) | |
Accumulated fair value adjustment of Debt | (296,984) | (943,357) | |
Notional amount of derivatives | 8,495,755 | ||
Hedging instrument, assets | (25,389) | (214,514) | |
Derivative hedging instruments accumulated fair value adjustment | 20,396 | (537,351) | |
Notional amount of hedging instruments | |||
Net currency and interest rate instruments | (8,353,604) | (7,369,511) | |
Net accumulated fair value adjustment of currency and interest rate instruments | (276,588) | (1,480,708) | |
Fair value hedges [member] | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Swaps 5th issue - single series [member] | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | 684,501 | ||
Hedging instrument, assets | 221,000 | (189,928) | |
Derivative hedging instruments accumulated fair value adjustment | 1,248 | (401,669) | |
Fair value hedges [member] | Swap agreements (interest) [member] | 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 | 1,000,000 | ||
Hedging instrument, assets | (90,193) | 51,220 | |
Derivative hedging instruments accumulated fair value adjustment | (61,242) | 51,220 | |
Fair value hedges [member] | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Swaps Debentures | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | 5,985,275 | ||
Hedging instrument, assets | (148,662) | (75,806) | |
Derivative hedging instruments accumulated fair value adjustment | 72,856 | (196,959) | |
Fair value hedges [member] | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Swaps Senior 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 | |||
Derivative hedging instruments accumulated fair value adjustment | 10,057 | ||
Fair value hedges [member] | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Swaps Finem [member] | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | 29,641 | ||
Hedging instrument, assets | (558) | ||
Derivative hedging instruments accumulated fair value adjustment | 558 | ||
Fair value hedges [member] | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Swaps CCB [member] | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount of derivatives | 796,338 | ||
Hedging instrument, assets | (6,976) | ||
Derivative hedging instruments accumulated fair value adjustment | 6,976 | ||
Fair value hedges [member] | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Swaps 5th issue - single series [member] | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (684,501) | ||
Loans, financing and debentures | (907,366) | (873,474) | |
Accumulated fair value adjustment of Debt | (33,892) | 17,184 | |
Fair value hedges [member] | Swap agreements (interest) [member] | 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 | (851,689) | (921,949) | |
Accumulated fair value adjustment of Debt | 70,260 | (921,949) | |
Fair value hedges [member] | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Swaps Debentures | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (5,985,275) | ||
Loans, financing and debentures | (5,755,679) | (5,359,574) | |
Accumulated fair value adjustment of Debt | (327,290) | 149,491 | |
Fair value hedges [member] | Swap agreements (interest) [member] | 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 | |||
Accumulated fair value adjustment of Debt | (188,083) | ||
Fair value hedges [member] | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Finem [member] | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (29,641) | ||
Loans, financing and debentures | (28,115) | ||
Accumulated fair value adjustment of Debt | (1,644) | ||
Fair value hedges [member] | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | CCB [member] | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (796,338) | ||
Loans, financing and debentures | (785,366) | ||
Accumulated fair value adjustment of Debt | R$ 4418 |
FINANCIAL ASSETS AND LIABILI_24
FINANCIAL ASSETS AND LIABILITIES - Schedule of fair value option of financial instruments (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | R$ 6391961 | ||
Loans, financing and debentures | (52,987,216) | R$ 45659037 | R$ 42249460 |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (5,264,478) | ||
Loans, financing and debentures | (5,429,667) | (5,403,521) | |
Accumulated fair value adjustment of Loans, financing and debentures | 1,033,065 | 303,423 | |
Notional amount of derivatives | 5,264,478 | ||
Hedging instrument, assets | 1,214,068 | 2,293,143 | |
Derivative hedging instruments accumulated fair value adjustment | (1,041,384) | 95,408 | |
Notional amount of hedging instruments | |||
Net currency and interest rate instruments | (4,215,599) | (3,110,378) | |
Net accumulated fair value adjustment of currency and interest rate instruments | R$ 8319 | (398,831) | |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | Swap Senior Notes 2027 | Cosan S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 126.85% of the CDI | ||
Notional amount of derivatives | R$ 3391505 | ||
Hedging instrument, assets | 1,285,454 | 2,047,237 | |
Derivative hedging instruments accumulated fair value adjustment | R$ 736466 | 45,181 | |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | FX and interest rate swap, one | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 108% of CDI | ||
Notional amount of derivatives | R$ 100198 | ||
Hedging instrument, assets | 15,468 | 30,535 | |
Derivative hedging instruments accumulated fair value adjustment | R$ 15067 | (3,096) | |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | FX and interest rate swap, two | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 118% of CDI | ||
Notional amount of derivatives | |||
Hedging instrument, assets | 47,527 | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 47527 | (20,019) | |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | EIB 3rd Tranche | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 88.5% of the CDI | ||
Notional amount of derivatives | |||
Hedging instrument, assets | |||
Derivative hedging instruments accumulated fair value adjustment | 844 | ||
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | EIB 4th Tranche | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 81.1% of the CDI | ||
Notional amount of derivatives | |||
Hedging instrument, assets | |||
Derivative hedging instruments accumulated fair value adjustment | 2,583 | ||
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | Resolution 4,131 (2018) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 107.9% of the CDI | ||
Notional amount of derivatives | R$ 268125 | ||
Hedging instrument, assets | 123,760 | 168,358 | |
Derivative hedging instruments accumulated fair value adjustment | R$ 61685 | 20,794 | |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | Resolution 4,131 (2020) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | CDI + 2.75% | ||
Notional amount of derivatives | |||
Hedging instrument, assets | |||
Derivative hedging instruments accumulated fair value adjustment | 15,711 | ||
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | Resolution 4,131 (2021) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | CDI + 1.25% | ||
Notional amount of derivatives | R$ 407250 | ||
Hedging instrument, assets | (50,245) | (514) | |
Derivative hedging instruments accumulated fair value adjustment | R$ 88612 | (6,628) | |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | Resolution 4,131 (2022) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | CDI + 1.20% | ||
Notional amount of derivatives | R$ 1097400 | ||
Hedging instrument, assets | (160,369) | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 217215 | ||
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | Senior notes due 2027 | Cosan S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | USD+7.0% | ||
Notional amount | R$ 3391505 | ||
Loans, financing and debentures | (3,587,265) | (4,305,928) | |
Accumulated fair value adjustment of Loans, financing and debentures | R$ 967778 | 313,052 | |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | Export Credit Agency (“ECA”) | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | EUR + 0.58% | ||
Notional amount | R$ 100198 | ||
Loans, financing and debentures | (68,455) | (95,460) | |
Accumulated fair value adjustment of Loans, financing and debentures | R$ 377 | (1,337) | |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | Resolution 4131 | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | USD+2.20% | ||
Notional amount | |||
Loans, financing and debentures | (148,932) | ||
Accumulated fair value adjustment of Loans, financing and debentures | R$ 247 | 4,412 | |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | Resolution 4,131 (2018) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | USD + 3.67% | ||
Notional amount | R$ 268125 | ||
Loans, financing and debentures | (395,285) | (438,823) | |
Accumulated fair value adjustment of Loans, financing and debentures | R$ 2680 | (18,230) | |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | Resolution 4,131 (2021) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | USD + 1.36% | ||
Notional amount | R$ 407250 | ||
Loans, financing and debentures | (377,705) | (414,378) | |
Accumulated fair value adjustment of Loans, financing and debentures | R$ 15545 | 5,526 | |
Financial liabilities at fair value through profit or loss, category | FX rate risk | Designated as Hedging Instruments [Member] | Resolution 4,131 (2022) | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | USD + 2.13% | ||
Notional amount | R$ 1097400 | ||
Loans, financing and debentures | (1,000,957) | ||
Accumulated fair value adjustment of Loans, financing and debentures | 51,798 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Notional amount | (4,254,668) | ||
Loans, financing and debentures | (4,299,101) | (2,183,102) | |
Accumulated fair value adjustment of Loans, financing and debentures | (2,153,730) | (748,925) | |
Notional amount of derivatives | 4,254,668 | ||
Hedging instrument, assets | 51,226 | 172,434 | |
Derivative hedging instruments accumulated fair value adjustment | (184,713) | (34,435) | |
Notional amount of hedging instruments | |||
Net currency and interest rate instruments | (4,247,875) | (2,010,668) | |
Net accumulated fair value adjustment of currency and interest rate instruments | R$ 2338443 | (783,360) | |
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Swaps 4th issue - 2nd series | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 94.64% CDI | ||
Notional amount of derivatives | |||
Hedging instrument, assets | |||
Derivative hedging instruments accumulated fair value adjustment | R$ 3900 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Swaps 4th issue - 3rd series | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 112.49% CDI | ||
Notional amount of derivatives | R$ 114818 | ||
Hedging instrument, assets | (778) | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 5096 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | 6th issue - single series | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 89.9% CDI | ||
Notional amount of derivatives | R$ 523993 | ||
Hedging instrument, assets | (10,419) | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 26161 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Swaps 9th issue - 1st series | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 109.20% CDI | ||
Notional amount of derivatives | R$ 500000 | ||
Hedging instrument, assets | (17,705) | 5,776 | |
Derivative hedging instruments accumulated fair value adjustment | R$ 37517 | 5,776 | |
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Swaps 9th issue - 2nd series | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 110.50% CDI | ||
Notional amount of derivatives | R$ 500000 | ||
Hedging instrument, assets | (40,441) | 12,939 | |
Derivative hedging instruments accumulated fair value adjustment | R$ 53304 | 12,939 | |
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | BNDES Projects VI and VII | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 87.50% CDI | ||
Notional amount of derivatives | R$ 160126 | ||
Hedging instrument, assets | (2,046) | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 6923 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | BNDES Project VIII | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 82.94% CDI | ||
Notional amount of derivatives | R$ 870149 | ||
Hedging instrument, assets | (21,039) | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 48613 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | BNDES Project IX | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 82.94% CDI | ||
Notional amount of derivatives | R$ 565582 | ||
Hedging instrument, assets | (6,632) | ||
Derivative hedging instruments accumulated fair value adjustment | R$ 6632 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Debentures | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 107% CDI | ||
Notional amount of derivatives | R$ 420000 | ||
Hedging instrument, assets | 76,194 | 71,375 | |
Derivative hedging instruments accumulated fair value adjustment | R$ 4819 | (11,682) | |
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Debentures | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | 103% CDI | ||
Notional amount of derivatives | R$ 600000 | ||
Hedging instrument, assets | 74,092 | 82,344 | |
Derivative hedging instruments accumulated fair value adjustment | R$ 8252 | (41,468) | |
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | 4th issue - 3rd series | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | IPCA + 7.36% | ||
Notional amount | R$ 114818 | ||
Loans, financing and debentures | (114,014) | ||
Accumulated fair value adjustment of Loans, financing and debentures | R$ 114014 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | 6th issue - single series | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | IPCA + 4.33% | ||
Notional amount | R$ 523993 | ||
Loans, financing and debentures | (523,837) | ||
Accumulated fair value adjustment of Loans, financing and debentures | R$ 523837 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | 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] | |||
Interest, Index | IPCA + 5.12% | ||
Notional amount | R$ 500000 | ||
Loans, financing and debentures | (491,153) | (484,974) | |
Accumulated fair value adjustment of Loans, financing and debentures | R$ 6179 | (484,974) | |
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | 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] | |||
Interest, Index | IPCA + 5.22% | ||
Notional amount | R$ 500000 | ||
Loans, financing and debentures | (467,841) | (477,578) | |
Accumulated fair value adjustment of Loans, financing and debentures | R$ 9737 | (477,578) | |
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | BNDES Projects VI and VII | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | IPCA + 4.10% | ||
Notional amount | R$ 160126 | ||
Loans, financing and debentures | (131,885) | ||
Accumulated fair value adjustment of Loans, financing and debentures | R$ 131885 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | BNDES Project VIII | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | IPCA + 3.25% | ||
Notional amount | R$ 870149 | ||
Loans, financing and debentures | (801,812) | ||
Accumulated fair value adjustment of Loans, financing and debentures | R$ 801812 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | BNDES Project IX | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | IPCA + 5.74% | ||
Notional amount | R$ 565582 | ||
Loans, financing and debentures | (544,925) | ||
Accumulated fair value adjustment of Loans, financing and debentures | R$ 544925 | ||
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Debentures | Rumo S.A. [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | IPCA + 4.68% | ||
Notional amount | R$ 420000 | ||
Loans, financing and debentures | (518,680) | (543,752) | |
Accumulated fair value adjustment of Loans, financing and debentures | R$ 6070 | 82,474 | |
Financial liabilities at fair value through profit or loss, category | Swap agreements (interest) [member] | Designated as Hedging Instruments [Member] | Debentures | Comgas [member] | |||
Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Line Items] | |||
Interest, Index | IPCA + 4.50% | ||
Notional amount | R$ 600000 | ||
Loans, financing and debentures | (704,954) | (676,798) | |
Accumulated fair value adjustment of Loans, financing and debentures | R$ 34745 | R$ 131153 |
FINANCIAL ASSETS AND LIABILI_25
FINANCIAL ASSETS AND LIABILITIES - Summary of Trade Receivables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of Trade Receivables [line items] | |||
Current | R$ 3769908 | R$ 2580776 | |
Non-current | 157,634 | 165,077 | |
Trade receivables | 3,927,542 | 2,745,853 | |
Cost [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | 4,082,160 | 2,860,905 | |
Expected credit losses [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | (154,618) | (115,052) | |
Unbilled revenue | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | [1] | 968,147 | 975,588 |
Domestic - market [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | 3,085,227 | 1,810,867 | |
Foreign market - Foreign currency [member] | |||
Disclosure of Trade Receivables [line items] | |||
Trade receivables | R$ 28786 | R$ 74450 | |
[1]Unbilled revenue refers to the part of the gas supply in the month, whose measurement and billing have not yet been carried out. |
FINANCIAL ASSETS AND LIABILI_26
FINANCIAL ASSETS AND LIABILITIES - Summary of Ageing of Trade Receivables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of Trade Receivables [line items] | ||
Trade receivables | R$ 3927542 | R$ 2745853 |
Expected credit losses [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | (154,618) | (115,052) |
Not overdue [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | 3,514,756 | 2,484,633 |
Up to 30 days [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | 376,868 | 206,244 |
Overdue From 31 to 60 days [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | 40,389 | 21,130 |
Overdue From 61 to 90 days [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | 20,254 | 22,351 |
More than 90 days [member] | ||
Disclosure of Trade Receivables [line items] | ||
Trade receivables | R$ 129893 | R$ 126547 |
FINANCIAL ASSETS AND LIABILI_27
FINANCIAL ASSETS AND LIABILITIES - Summary of Changes in Expected Credit Losses (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Trade Receivables [abstract] | ||
Beginning balance | R$ 115052 | R$ 136024 |
Business combination | (31,923) | |
Provision / reversal | (28,463) | (10,762) |
Foreign exchange | (4,905) | (340) |
Write-off | 25,725 | 32,074 |
Ending balance | R$ 154618 | R$ 115052 |
FINANCIAL ASSETS AND LIABILI_28
FINANCIAL ASSETS AND LIABILITIES - Summary of Receivables from and Payables to Related Parties (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | R$ 235541 | R$ 98280 | |
Receivables from related parties, non-current | 241,001 | 318,211 | |
Total assets | 476,542 | 416,491 | |
Total current liabilities | 387,736 | 287,609 | |
Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | 235,541 | 98,280 | |
Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | 241,001 | 318,211 | |
Commercial operations [member] | |||
Disclosure of receivables and payables [line items] | |||
Total current liabilities | 323,039 | 227,738 | |
Commercial operations [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | 107,703 | 71,802 | |
Commercial operations [member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | 91,541 | 112,018 | |
Commercial operations [member] | Raizen [Member] | |||
Disclosure of receivables and payables [line items] | |||
Total current liabilities | [1] | 296,051 | 221,373 |
Commercial operations [member] | Raizen [Member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | [1] | 79,297 | 54,199 |
Commercial operations [member] | Raizen [Member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | [1] | 47,731 | 47,732 |
Commercial operations [member] | Termag MaritimoTerminal De Guaruja SA [Member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | 14,286 | 14,286 | |
Commercial operations [member] | Termag MaritimoTerminal De Guaruja SA [Member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | 43,810 | 64,286 | |
Commercial operations [member] | Aguassanta Participacoes S.A. [member] | |||
Disclosure of receivables and payables [line items] | |||
Total current liabilities | 6,419 | ||
Commercial operations [member] | Aguassanta Participacoes S.A. [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | 2,184 | 2,956 | |
Commercial operations [member] | Others [member] | |||
Disclosure of receivables and payables [line items] | |||
Total current liabilities | 20,569 | 6,365 | |
Commercial operations [member] | Others [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | 11,936 | 361 | |
Financial and corporate operations [member] | |||
Disclosure of receivables and payables [line items] | |||
Total current liabilities | 64,697 | 59,871 | |
Financial and corporate operations [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | 127,838 | 26,478 | |
Financial and corporate operations [member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | 149,460 | 206,193 | |
Financial and corporate operations [member] | Raizen [Member] | |||
Disclosure of receivables and payables [line items] | |||
Total current liabilities | [1] | 64,697 | 59,871 |
Financial and corporate operations [member] | Raizen [Member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | [1] | 20,586 | 8,978 |
Financial and corporate operations [member] | Raizen [Member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | [1] | 149,347 | 205,958 |
Financial and corporate operations [member] | Ligga S.A. [member] | Current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, current | [2] | 107,252 | 17,500 |
Financial and corporate operations [member] | Others [member] | Non-current Asset [Member] | |||
Disclosure of receivables and payables [line items] | |||
Receivables from related parties, non-current | R$ 113 | R$ 235 | |
[1]Current and non-current assets receivable from Raízen S.A. and its subsidiaries are, substantially, tax credits that will be reimbursed to the Company when realized. The preferred shares are used by Raízen to reimburse Cosan, with preferred dividends, when the net operating loss is consumed in Raízen. Current liabilities represent Cosan S.A.'s obligation to reimburse Raízen S.A. and its subsidiaries for expenses related to legal disputes and other liabilities incurred prior to the formation of the joint venture.[2] Advance for future capital increase. |
FINANCIAL ASSETS AND LIABILI_29
FINANCIAL ASSETS AND LIABILITIES - Summary of Related Party Transactions (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of receivables and payables [line items] | |||
Operating income | R$ 915498 | R$ 679500 | R$ 675704 |
Shared income (expenses) | (68,024) | (73,831) | (81,018) |
Total | (1,680,746) | (965,464) | (536,552) |
Finance Result [member] | |||
Disclosure of receivables and payables [line items] | |||
Finance result | (198) | 4,937 | 6,392 |
Raizen [Member] | |||
Disclosure of receivables and payables [line items] | |||
Operating income | 908,588 | 679,500 | 675,436 |
Purchase of products / inputs / services | (2,528,022) | (1,576,070) | (1,136,691) |
Shared income (expenses) | (68,120) | (73,831) | (81,018) |
Finance result | (106) | 4,937 | 6,345 |
Purchase of Products [Member] | |||
Disclosure of receivables and payables [line items] | |||
Purchase of products / inputs / services | (2,528,022) | (1,576,070) | (1,137,630) |
Cosan Limited [member] | |||
Disclosure of receivables and payables [line items] | |||
Finance result | |||
Others [member] | |||
Disclosure of receivables and payables [line items] | |||
Operating income | 6,910 | 268 | |
Purchase of products / inputs / services | (939) | ||
Shared income (expenses) | 96 | ||
Finance result | R$ 92 | R$ 47 |
FINANCIAL ASSETS AND LIABILI_30
FINANCIAL ASSETS AND LIABILITIES - Summary of Managers’ and Directors' Compensation (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
FINANCIAL ASSETS AND LIABILITIES | |||
Short-term benefits to officers and directors | R$ 160020 | R$ 177405 | R$ 102250 |
Share-based compensation | 77,210 | 68,209 | 15,441 |
Long-term benefits to officers and directors | 26,563 | 5,863 | |
Post-employment benefits | 2,039 | 750 | 1,045 |
Officers' and directors' compensation | R$ 265832 | R$ 252227 | R$ 118736 |
FINANCIAL ASSETS AND LIABILI_31
FINANCIAL ASSETS AND LIABILITIES - Summary of Trade Payables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of trade and other payables [line items] | |||
Other | R$ 13305 | R$ 16325 | |
Total trade and other payables | 4,379,851 | 3,253,504 | |
Materials and service suppliers [member] | |||
Disclosure of trade and other payables [line items] | |||
Trade and other payables to trade suppliers | 2,929,310 | 1,847,222 | |
Natural Gas and Transportation Suppliers [Member] | |||
Disclosure of trade and other payables [line items] | |||
Trade and other payables to trade suppliers | [1] | 1,393,418 | 1,314,946 |
Electricity and Transportation Suppliers [Member] | |||
Disclosure of trade and other payables [line items] | |||
Trade and other payables to trade suppliers | 42,732 | 74,893 | |
Fuel and lubricants suppliers [member] | |||
Disclosure of trade and other payables [line items] | |||
Trade and other payables to trade suppliers | R$ 1086 | R$ 118 | |
[1]The open balance of natural gas supply primarily refers to the natural gas supply contracts with Petróleo Brasileiro S.A. (“Petrobras”). |
FINANCIAL ASSETS AND LIABILI_32
FINANCIAL ASSETS AND LIABILITIES - Summary of Sector financial asset and liability (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Reconciliation of changes in net sector financial asset (liability) | |||
Net sector financial asset (liability) at beginning of period | R$ 813973 | R$ 324162 | |
Cost of gas | [1] | (466,743) | 228,153 |
Tax credits | [2] | 16,876 | (167,397) |
Monetary update | [3] | (39,808) | (243,711) |
Extemporaneous credit | [4] | (375,565) | |
Deferral of IGP-M | [5] | 110,013 | 68,709 |
Business combination | [2] | (80,648) | |
Net sector financial asset (liability) at end of period | (1,274,283) | (813,973) | |
Current | 81,536 | ||
Non-current | (1,355,819) | ||
Net sector financial asset (liability) | (1,274,283) | (813,973) | |
Sectorial assets | |||
Reconciliation of changes in net sector financial asset (liability) | |||
Net sector financial asset (liability) at beginning of period | 558,310 | 241,749 | |
Cost of gas | [1] | (466,743) | 228,153 |
Tax credits | [2] | ||
Monetary update | [3] | 80,996 | 19,699 |
Extemporaneous credit | [4] | ||
Deferral of IGP-M | [5] | 110,013 | 68,709 |
Business combination | [2] | 59,757 | |
Net sector financial asset (liability) at end of period | 342,333 | 558,310 | |
Current | 148,955 | ||
Non-current | 193,378 | ||
Net sector financial asset (liability) | 342,333 | 558,310 | |
Sectorial liabilities | |||
Reconciliation of changes in net sector financial asset (liability) | |||
Net sector financial asset (liability) at beginning of period | (1,372,283) | (565,911) | |
Cost of gas | [1] | ||
Tax credits | [2] | 16,876 | (167,397) |
Monetary update | [3] | (120,804) | (263,410) |
Extemporaneous credit | [4] | (375,565) | |
Deferral of IGP-M | [5] | ||
Business combination | [2] | (140,405) | |
Net sector financial asset (liability) at end of period | (1,616,616) | (1,372,283) | |
Current | (67,419) | ||
Non-current | (1,549,197) | ||
Net sector financial asset (liability) | R$ 1616616 | R$ 1372283 | |
[1] Refers to the difference between the cost of gas purchased and that contained in tariffs, which is fully classified as current assets since the regulator's deliberation calls for annual tariff recovery for the residential and commercial segments and quarterly tariff recovery for the other segments. Refers to the net amount of tax credits on tax benefits in the year. Recalculation of the gas current account and extemporaneous credit using the SELIC rate. Credit for the exclusion of ICMS from the PIS and COFINS base, see details in Note 6 . Appropriation of the deferral of the IGP-M for the residential and commercial segments. |
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, 2022 | Dec. 31, 2021 |
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% | |
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% | |
Senior notes due 2027 [member] | Cosan S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 100.92% | 103.79% |
Senior Notes Due 2028 [Member] | Rumo S A [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 95.04% | 103.42% |
Senior Notes Due 2029[Member] | Cosan S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 94.30% | 104.39% |
Senior Notes Due 2032 [Member] | Rumo S A [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 80.36% | 94.34% |
Perpetual notes [member] | Cosan S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Senior Notes, quoted market price percentage | 98.92% | 102.17% |
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$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | R$ 44689969 | R$ 29914865 | |
Financial liabilities | R$ 73825192 | R$ 59932201 | |
Investment properties [member] | Bottom of range [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Description of Discount Rates Applied in Direct Comparative Method of Market Data | 11.20% | 6.50% | |
Investment properties [member] | Top of range [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Description of Discount Rates Applied in Direct Comparative Method of Market Data | 13.75% | 9% | |
Cost [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | R$ 41748148 | R$ 21431535 | |
Financial liabilities | (58,278,148) | (46,735,198) | |
Cost [member] | Investment fund [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 1,304,332 | 8,103,713 | |
Cost [member] | Marketable securities [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 22,099,766 | 4,388,007 | |
Cost [member] | Other financial assets [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 89,238 | 320,193 | |
Cost [member] | Investment properties [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | [1] | 14,103,060 | 3,886,696 |
Cost [member] | Loans, borrowings and debentures [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | (52,987,216) | (45,659,037) | |
Cost [member] | Derivative financial instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 4,151,752 | 4,732,926 | |
Financial liabilities | (5,290,932) | (1,076,161) | |
Fair value [member] | Level 1 [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 19,675,431 | ||
Financial liabilities | (30,157,655) | ||
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 | 19,586,193 | ||
Fair value [member] | Level 1 [member] | Other financial assets [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 89,238 | ||
Fair value [member] | Level 1 [member] | Investment properties [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | [1] | ||
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) | ||
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 2 [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 7,969,657 | 17,544,839 | |
Financial liabilities | (50,329,120) | (21,290,761) | |
Fair value [member] | Level 2 [member] | Investment fund [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 1,304,332 | 8,103,713 | |
Fair value [member] | Level 2 [member] | Marketable securities [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 2,513,573 | 4,388,007 | |
Fair value [member] | Level 2 [member] | Other financial assets [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 320,193 | ||
Fair value [member] | Level 2 [member] | Investment properties [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | [1] | ||
Fair value [member] | Level 2 [member] | Loans, borrowings and debentures [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | (45,038,188) | (20,214,600) | |
Fair value [member] | Level 2 [member] | Derivative financial instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 4,151,752 | 4,732,926 | |
Financial liabilities | (5,290,932) | (1,076,161) | |
Fair value [member] | Level 3 [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 14,103,060 | 3,886,696 | |
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 | [1] | 14,103,060 | 3,886,696 |
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] | Derivative financial instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | |||
Financial liabilities | |||
[1] The fair value of investment properties was determined using the direct comparative method of market data applied to transactions involving similar properties (type, location, and quality of property) and, to a lesser extent, sales quotes for potential transactions involving comparable assets (level 3 11.20 13.75 6.5 9 |
FINANCIAL ASSETS AND LIABILI_35
FINANCIAL ASSETS AND LIABILITIES - Summary of Financial Risks and Financial Performance (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
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. |
Interest rate risk [member] | Sensitivity analysis [member] | |
Disclosure of financial assets [line items] | |
Exposure | Cash and cash equivalents, securities, loans, financing and debentures, leases and derivative financial instruments. |
Measurement | (i) Sensitivity analysis |
Management | Interest rate Swap. |
Market risk - prices [member] | Cash flow forecasting [member] | |
Disclosure of financial assets [line items] | |
Exposure | (i)Future business transactions. |
Measurement | (i)Cash flow forecasting |
Management | (i)Future price of electricity (purchase and sale) |
Credit risk [member] | |
Disclosure of financial assets [line items] | |
Exposure | Cash and cash equivalents, marketable securities, trade receivables, derivatives, receivables from related parties, dividends, and investment property |
Measurement | (i) Aging analysis by maturity |
Management | Availability of lines of credit |
Liquidity risk [member] | A Credit Rating [member] | |
Disclosure of financial assets [line items] | |
Exposure | Loans, financing and debentures, accounts payable to suppliers, other financial liabilities, REFIS, leases, derivatives, payables to related parties and dividends. |
Measurement | (i) Cash flow forecasting |
Management | Availability of lines of credit |
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, 2022 | Dec. 31, 2021 |
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | R$ 24761444 | R$ 29356555 |
Cash and cash equivalents [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | 13,301,716 | 16,174,130 |
Trade receivables [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | 3,927,542 | 2,745,853 |
Derivative financial instruments (notional) [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | 4,151,752 | 4,732,926 |
Foreign exchange risk [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | (5,246,480) | 5,021,936 |
Foreign exchange risk [member] | Cash and cash equivalents [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | 1,138,948 | 3,811,598 |
Foreign exchange risk [member] | Trade receivables [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | 93,326 | |
Foreign exchange risk [member] | Trade payables [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | (97,259) | (4,721) |
Foreign exchange risk [member] | Loans, borrowings and debentures [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | (13,698,102) | (19,640,300) |
Foreign exchange risk [member] | Lease liabilities [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | (94,716) | (108,365) |
Foreign exchange risk [member] | Consideration payable [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | (223,960) | (234,960) |
Foreign exchange risk [member] | Derivative financial instruments (notional) [member] | ||
Disclosure of foreign exchange risk [Line Items] | ||
Exposure to risk | R$ 7728609 | R$ 21105358 |
FINANCIAL ASSETS AND LIABILI_37
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, 2022 BRL (R$) | |
Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Low FX rate |
Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | High FX rate |
Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | Low FX rate |
Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | High FX rate |
Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Risk factor | High FX rate |
Probable [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | R$ 617024 |
Probable [member] | Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 7,051 |
Probable [member] | Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 3,160 |
Probable [member] | Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 1,001,928 |
Probable [member] | Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (398,592) |
Probable [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 3,477 |
25% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (6,216,529) |
25% [member] | Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 286,509 |
25% [member] | Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (18,941) |
25% [member] | Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (732,481) |
25% [member] | Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (5,730,777) |
25% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (20,839) |
50% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (12,425,986) |
50% [member] | Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 573,009 |
50% [member] | Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (41,042) |
50% [member] | Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (1,451,245) |
50% [member] | Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (11,461,553) |
50% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (45,155) |
-25% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 6,299,858 |
-25% [member] | Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (286,490) |
-25% [member] | Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 25,261 |
-25% [member] | Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 802,517 |
-25% [member] | Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 5,730,777 |
-25% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 27,793 |
-50% [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 12,616,894 |
-50% [member] | Cash and cash equivalents [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | (572,990) |
-50% [member] | Trade payables [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 47,362 |
-50% [member] | Derivative financial instruments [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 1,628,860 |
-50% [member] | Loans, borrowings and debentures [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | 11,461,553 |
-50% [member] | Leases [member] | |
Disclosure foreign currency sensitivity analysis impact on profit loss [line items] | |
Changes in foreign exchange rates loss before tax | R$ 52109 |
FINANCIAL ASSETS AND LIABILI_38
FINANCIAL ASSETS AND LIABILITIES - Summary of Sensitivity Analysis on Changes in Foreign Exchange Rates (Detail) | Dec. 31, 2022 |
Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 5.2177 |
Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 5.5694 |
United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 6.2785 |
Japan, Yen | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 0.0392 |
Probable [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 5.25 |
Probable [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 5.7225 |
Probable [member] | United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 6.615 |
Probable [member] | Japan, Yen | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 0.041 |
25% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 6.5625 |
25% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 7.1531 |
25% [member] | United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 8.2688 |
25% [member] | Japan, Yen | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 0.0513 |
50% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 7.875 |
50% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 8.5838 |
50% [member] | United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 9.9225 |
50% [member] | Japan, Yen | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 0.0615 |
-25% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 3.9375 |
-25% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 4.2919 |
-25% [member] | United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 4.9613 |
-25% [member] | Japan, Yen | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 0.0308 |
-50% [member] | Dollar (USD) [member] | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 2.625 |
-50% [member] | Euro Member Countries, Euro | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 2.8613 |
-50% [member] | United Kingdom, Pounds | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 3.3075 |
-50% [member] | Japan, Yen | |
Disclosure foreign currency sensitivity analysis [line items] | |
Exchange rate sensitivity analysis | 0.0205 |
FINANCIAL ASSETS AND LIABILI_39
FINANCIAL ASSETS AND LIABILITIES - Summary of Sensitivity Analysis on Interest Rates on Loans and Borrowings (Detail) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Probable [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | R$ 2001488 |
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 | 1,699,515 |
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 | 306,846 |
Probable [member] | Restricted cash [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 18,420 |
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 | (146,467) |
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 | (447,011) |
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 | (993,288) |
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 | (2,319,734) |
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 | (119,769) |
25% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (3,717,452) |
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 | 1,931,748 |
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 | 287,588 |
25% [member] | Restricted cash [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 18,380 |
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 | (183,084) |
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 | (447,729) |
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 | (2,534,024) |
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 | (2,643,462) |
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 | (146,869) |
50% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (3,421,132) |
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 | 2,355,898 |
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 | 364,300 |
50% [member] | Restricted cash [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 22,985 |
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 | (219,700) |
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 | (448,451) |
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 | (2,268,366) |
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 | (3,053,829) |
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 | (173,969) |
-25% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (3,798,996) |
-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 | 1,088,365 |
-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 | 134,165 |
-25% [member] | Restricted cash [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 9,171 |
-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 | (109,850) |
-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 | (446,296) |
-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 | (2,771,263) |
-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 | (1,610,620) |
-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 | (92,668) |
-50% [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | (5,015,001) |
-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 | 665,854 |
-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 | 57,453 |
-50% [member] | Restricted cash [member] | |
Disclosure of sensitivity analysis on income for the period assuming increase and decrease in interest rates [Line Items] | |
Exposure interest rate | 4,565 |
-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 | (73,233) |
-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 | (445,585) |
-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 | (2,884,394) |
-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 | (2,274,093) |
-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$ 65568 |
FINANCIAL ASSETS AND LIABILI_40
FINANCIAL ASSETS AND LIABILITIES - Summary of Probable Scenario Considers Estimated Interest Rate (Detail) | Dec. 31, 2022 |
Probable [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 13.35% |
Probable [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 13.25% |
Probable [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 8% |
Probable [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 7% |
Probable [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 4.98% |
Probable [member] | IGP-M [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 4.45% |
Probable [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 4.43% |
Probable [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.25% |
25% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 16.69% |
25% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 16.57% |
25% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 9.75% |
25% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 8.75% |
25% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.23% |
25% [member] | IGP-M [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.56% |
25% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.54% |
25% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.56% |
50% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 20.03% |
50% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 19.88% |
50% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 11.50% |
50% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 10.50% |
50% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 7.47% |
50% [member] | IGP-M [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.67% |
50% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.64% |
50% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 7.88% |
-25% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 10.02% |
-25% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 9.94% |
-25% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.25% |
-25% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 5.25% |
-25% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.74% |
-25% [member] | IGP-M [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.34% |
-25% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.32% |
-25% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.94% |
-50% [member] | SELIC [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.68% |
-50% [member] | CDI [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 6.63% |
-50% [member] | TJLP462 (TJLP + 1% p.a.) [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 4.50% |
-50% [member] | TJLP [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 3.50% |
-50% [member] | IPCA [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.49% |
-50% [member] | IGP-M [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.22% |
-50% [member] | Libor [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.21% |
-50% [member] | Fed Funds [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Estimated interest rate | 2.63% |
FINANCIAL ASSETS AND LIABILI_41
FINANCIAL ASSETS AND LIABILITIES - Schedule of outstanding energy trading operations (Detail) - Price risk [member] - Electricity trading [member] - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Financial position and unrealized gains on electricity trading operations, net | ||
Assets | R$ 69576 | |
Liabilities | (317,699) | |
Net loss | R$ 248123 |
FINANCIAL ASSETS AND LIABILI_42
FINANCIAL ASSETS AND LIABILITIES - Summary of open positions in natural gas derivatives (Detail) - Commodity option contract [member] R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Probable [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Price variation US$/bbl | R$ 21744 |
25% [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Price variation US$/bbl | 21,878 |
50% [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Price variation US$/bbl | 64,345 |
-25% [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Price variation US$/bbl | 127,602 |
-50% [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Price variation US$/bbl | R$ 3508 |
FINANCIAL ASSETS AND LIABILI_43
FINANCIAL ASSETS AND LIABILITIES - sensitivity analysis considers the closing price of the shares (Detail) R$ / shares in Units, R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) R$ / shares | |
CSAN3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Share price sensitivity analysis | R$ / shares | R$ 17.12 |
RAIL3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Share price sensitivity analysis | R$ / shares | 18.61 |
VALE3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Share price sensitivity analysis | R$ / shares | R$ 88.88 |
Probable [member] | CSAN3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Share price scenario probable sensitivity analysis | R$ 1378141 |
Share price scenario probable sensitivity analysis | R$ / shares | R$ 17.12 |
Probable [member] | RAIL3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Share price scenario probable sensitivity analysis | R$ 293684 |
Share price scenario probable sensitivity analysis | R$ / shares | R$ 18.61 |
Probable [member] | VALE3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Share price scenario probable sensitivity analysis | R$ 6254192 |
Share price scenario probable sensitivity analysis | R$ / shares | R$ 88.88 |
Probable [member] | VALE3 (Collar) | |
Disclosure interest rates sensitivity analysis [line items] | |
Share price scenario probable sensitivity analysis | R$ 13332000 |
Probable [member] | VALE3 (Call Spread) | |
Disclosure interest rates sensitivity analysis [line items] | |
Share price scenario probable sensitivity analysis | 716,586 |
25% [member] | CSAN3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | R$ 274714 |
Increase decrease in per share price due to reasonably possible increase in actuarial assumption | R$ / shares | R$ 21.4 |
25% [member] | RAIL3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | R$ 73421 |
Increase decrease in per share price due to reasonably possible increase in actuarial assumption | R$ / shares | R$ 23.26 |
25% [member] | VALE3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | R$ 1563548 |
Increase decrease in per share price due to reasonably possible increase in actuarial assumption | R$ / shares | R$ 111.1 |
25% [member] | VALE3 (Collar) | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | R$ 2744775 |
25% [member] | VALE3 (Call Spread) | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | 1,541,654 |
50% [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | 1,541,654 |
50% [member] | CSAN3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | R$ 605285 |
Increase decrease in per share price due to reasonably possible increase in actuarial assumption | R$ / shares | R$ 25.68 |
50% [member] | RAIL3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | R$ 146842 |
Increase decrease in per share price due to reasonably possible increase in actuarial assumption | R$ / shares | R$ 27.92 |
50% [member] | VALE3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | R$ 3127096 |
Increase decrease in per share price due to reasonably possible increase in actuarial assumption | R$ / shares | R$ 133.32 |
50% [member] | VALE3 (Collar) | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | R$ 2744775 |
50% [member] | VALE3 (Call Spread) | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | 1,541,654 |
-25% [member] | CSAN3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 386428 |
Increase decrease in per share price due to reasonably possible decrease in actuarial assumption | R$ / shares | R$ 12.84 |
-25% [member] | RAIL3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 73421 |
Increase decrease in per share price due to reasonably possible decrease in actuarial assumption | R$ / shares | R$ 13.96 |
-25% [member] | VALE3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 1563548 |
Increase decrease in per share price due to reasonably possible decrease in actuarial assumption | R$ / shares | R$ 66.66 |
-25% [member] | VALE3 (Collar) | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 520500 |
-25% [member] | VALE3 (Call Spread) | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | (69,748) |
-50% [member] | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | 69,748 |
-50% [member] | CSAN3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 716999 |
Increase decrease in per share price due to reasonably possible decrease in actuarial assumption | R$ / shares | R$ 8.56 |
-50% [member] | RAIL3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 146842 |
Increase decrease in per share price due to reasonably possible decrease in actuarial assumption | R$ / shares | R$ 9.31 |
-50% [member] | VALE3 | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 3127096 |
Increase decrease in per share price due to reasonably possible decrease in actuarial assumption | R$ / shares | R$ 44.44 |
-50% [member] | VALE3 (Collar) | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 520500 |
-50% [member] | VALE3 (Call Spread) | |
Disclosure interest rates sensitivity analysis [line items] | |
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 69748 |
FINANCIAL ASSETS AND LIABILI_44
FINANCIAL ASSETS AND LIABILITIES - Summary of Credit Risk (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | R$ 24761444 | R$ 29356555 |
Cash and cash equivalents [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 13,301,716 | 16,174,130 |
Trade receivables [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 3,927,542 | 2,745,853 |
Marketable securities [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 2,513,574 | 4,388,007 |
Restricted cash [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 139,933 | 58,990 |
Derivative financial instruments [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 4,151,752 | 4,732,926 |
Receivables from related parties [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 476,542 | 416,491 |
Receivable dividends and interest on equity [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | 161,147 | 519,965 |
Other financial assets [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to risk | R$ 89238 | R$ 320193 |
FINANCIAL ASSETS AND LIABILI_45
FINANCIAL ASSETS AND LIABILITIES - Summary of Credit Risk Rating (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of external credit grades [line items] | ||
Credit rating | R$ 20106975 | R$ 25354053 |
AAA credit rating [member] | ||
Disclosure of external credit grades [line items] | ||
Credit rating | 16,769,858 | 23,080,390 |
AA credit rating [member] | ||
Disclosure of external credit grades [line items] | ||
Credit rating | 3,133,455 | 2,239,266 |
A credit rating [member] | ||
Disclosure of external credit grades [line items] | ||
Credit rating | 138,478 | |
BBB | ||
Disclosure of external credit grades [line items] | ||
Credit rating | 34,397 | |
Not rated [member] | ||
Disclosure of external credit grades [line items] | ||
Credit rating | R$ 65184 |
FINANCIAL ASSETS AND LIABILI_46
FINANCIAL ASSETS AND LIABILITIES - Summary of Financial Liabilities (Detail) - Liquidity risk [member] - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | R$ 87651180 | R$ 73146801 |
Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (13,704,453) | |
From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (8,936,345) | |
From 3 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (12,494,148) | |
Over 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (52,516,234) | |
Loans, borrowings and debentures [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (63,200,127) | (57,375,287) |
Loans, borrowings and debentures [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (4,844,717) | |
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 | (5,822,518) | |
Loans, borrowings and debentures [member] | From 3 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (12,609,628) | |
Loans, borrowings and debentures [member] | Over 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (39,923,264) | |
Trade payables [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (4,379,851) | (3,253,504) |
Trade payables [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (4,379,851) | |
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] | From 3 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Trade payables [member] | Over 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 | (924,562) | (726,423) |
Other financial liabilities [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (924,562) | |
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] | From 3 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Other financial liabilities [member] | Over 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Installment of tax debts [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (208,760) | (200,664) |
Installment of tax debts [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (53,520) | |
Installment of tax debts [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (2,077) | |
Installment of tax debts [member] | From 3 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (89) | |
Installment of tax debts [member] | Over 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (153,074) | |
Leases [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (16,436,839) | (15,631,812) |
Leases [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (434,903) | |
Leases [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (420,692) | |
Leases [member] | From 3 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (929,060) | |
Leases [member] | Over 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (14,652,184) | |
Lease and concession in installments [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (1,137,173) | (1,185,076) |
Lease and concession in installments [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (196,384) | |
Lease and concession in installments [member] | From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (192,639) | |
Lease and concession in installments [member] | From 3 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (188,331) | |
Lease and concession in installments [member] | Over 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (559,819) | |
Payable to related parties [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (387,736) | (287,609) |
Payable to related parties [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (387,736) | |
Payable 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 | ||
Payable to related parties [member] | From 3 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Payable to related parties [member] | Over 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 | (892,006) | (799,634) |
Dividends payable [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (892,006) | |
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] | From 3 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | ||
Dividends payable [member] | Over 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 | (84,126) | R$ 6313208 |
Derivative financial instruments [member] | Up to 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | (1,590,774) | |
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 | (2,498,419) | |
Derivative financial instruments [member] | From 3 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | 1,232,960 | |
Derivative financial instruments [member] | Over 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Non-derivative financial liabilities | R$ 2772107 |
FINANCIAL ASSETS AND LIABILI_47
FINANCIAL ASSETS AND LIABILITIES - Derivative financial instruments, interset rate and credit risk - Additional information (Detail) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) ITEM | |
Disclosure of detailed information about financial instruments [line items] | |
Description of how entity establishes hedge ratio and what sources of hedge ineffectiveness are | Since the underlying risk of the interest and FX rate swap is identical to the hedged risk component, the Company has established a hedge ratio of 1:1 for its hedging relationships. |
Number of categories of customers in credit risk of lease receivables | ITEM | 2 |
Variation scenario +/- 25% | |
Disclosure of detailed information about financial instruments [line items] | |
Percentage of reasonably possible increase (decrease) in associated risk variables | 25% |
Variation scenario +/- 50% | |
Disclosure of detailed information about financial instruments [line items] | |
Percentage of reasonably possible increase (decrease) in associated risk variables | 50% |
Electricity trading [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Purchase commitment | R$ | R$ 0 |
FINANCIAL ASSETS AND LIABILI_48
FINANCIAL ASSETS AND LIABILITIES - Additional Information (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Oct. 31, 2022 | Dec. 31, 2021 | |
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |||
Percentage of increase in actuarial assumption | 0.50% | ||
Percentage of decrease in actuarial assumption | 0.50% | ||
Percentage of interest in share capital acquired in spot market | 1.55% | 1.57% | |
Shareholding percentage | 3.35% | 3.31% | |
Percentage of additional equity interests under right o acquire | 1.57% | ||
Aggregate principal amount | R$ 6391961 | ||
CSAN3 | |||
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |||
Aggregate principal amount | 77,236,212 | ||
RAIL3 | |||
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |||
Aggregate principal amount | 15,781,000 | ||
50% [member] | |||
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |||
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | R$ 1541654 | ||
Percentage of reasonably possible increase (decrease) in associated risk variables | 50% | ||
50% [member] | CSAN3 | |||
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |||
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | R$ 605285 | ||
50% [member] | RAIL3 | |||
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |||
Increase decrease in amount of share price due to reasonably possible increase in actuarial assumption | 146,842 | ||
-50% [member] | |||
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |||
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 69748 | ||
Percentage of reasonably possible increase (decrease) in associated risk variables | 50% | ||
-50% [member] | CSAN3 | |||
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |||
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 716999 | ||
-50% [member] | RAIL3 | |||
Disclosure of sensitivity analysis of financial instruments changes in foreign exchange rates [line items] | |||
Increase decrease in amount of share price due to reasonably possible decrease in actuarial assumption | R$ 146842 |
OTHER TAX RECEIVABLE - Summary
OTHER TAX RECEIVABLE - Summary of Other Tax Receivables (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | R$ 2399126 | R$ 2801167 | |
Current | 1,324,203 | 921,472 | |
Non-Current | 1,074,923 | 1,879,695 | |
COFINS [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | [1] | 975,878 | 1,333,868 |
ICMS [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | 845,450 | 873,203 | |
ICMS CIAP [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | 118,809 | 106,250 | |
PIS [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | [1] | 350,867 | 299,610 |
Tax Credits [Member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | 31,774 | 42,932 | |
Others [member] | |||
Trade and Other Current Receivables [line items] | |||
Receivables from taxes other than income tax | R$ 76348 | R$ 145304 | |
[1]On May 13, 2021, the Federal Supreme Court ("STF") concluded the judgment of Extraordinary Appeal No. 574,706 Secretaria da Receita Federal |
OTHER TAX RECEIVABLE - Addition
OTHER TAX RECEIVABLE - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Trade and Other Current Receivables [line items] | ||||
Tax credits | [1] | R$ 114812 | R$ 287049 | R$ 132399 |
Federal Tax [member] | ||||
Trade and Other Current Receivables [line items] | ||||
Tax credits | 928,465 | 262,843 | ||
ICMS [member] | ||||
Trade and Other Current Receivables [line items] | ||||
Tax credits | 123,518 | R$ 86555 | ||
PIS and COFINS [member] | ||||
Trade and Other Current Receivables [line items] | ||||
Principal amount | R$ 470943 | |||
[1] Extemporaneous credit from the exclusion of ICMS from the PIS and COFINS base (See Note 6 |
INVENTORIES - Summary of invent
INVENTORIES - Summary of inventories and written down of inventories (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
INVENTORIES | ||
Finished goods | R$ 1504134 | R$ 814320 |
Parts and accessories | 168,777 | 180,286 |
Construction material | 152,789 | 126,889 |
Warehouse and others | 43,359 | 27,809 |
Inventories | 1,869,059 | 1,149,304 |
Provision for obsolete inventories | R$ 38747 | R$ 26841 |
INVESTMENTS - Summary of Basis
INVESTMENTS - Summary of Basis of Consolidation (Detail) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Compass Gás e Energia [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | [1] | 88% | |
Cosan Lubes [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 70% | 70% | |
Cosan Corretora de Seguros Ltda. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | [2] | 100% | |
Cosan Global Limited [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 100% | 100% | |
Cosan Luxembourg S A [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | [3] | 100% | 100% |
Cosan Oito S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | [4] | 100% | |
Cosan Nove Participações S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | [4] | 73.09% | |
Cosan Dez Participações S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | [4] | 76.80% | |
Cosan Overseas Limited [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 100% | 100% | |
Pasadena Empreendimentose Participacoes S. A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 100% | 100% | |
Atlântico Participações Ltda. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 100% | 100% | |
Payly Solucoes de Pagamentos S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | [5] | 75% | |
Cosan Limited Partners Brasil Consultoria Ltda [Member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 97.50% | 97.50% | |
Sinlog Tecnologia em Logstica SA [Member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 57.48% | 72.25% | |
Rumo S.A. [member] | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 80% | ||
Rumo S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 30.35% | 30.35% | |
Radar Propriedades Agricolas S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 41.45% | ||
Radar II Propriedades Agricolas S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 50% | ||
Nova Agrícola Ponte Alta S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 41.45% | ||
Nova Amaralina S.A Propriedades Agrícolas [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 41.45% | ||
Nova Santa Bárbara Agrícola S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 41.45% | ||
Terras da Ponta Alta S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 41.45% | ||
Castanheira Propriedades Agrícolas S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 41.45% | ||
Manacá Propriedades Agrícolas S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 41.45% | ||
Paineira Propriedades Agrícolas S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 41.45% | ||
Violeta Fundo de Investimento Multimercado [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 100% | 100% | |
Tellus Brasil Participacoes S.A. [member] | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 20% | ||
Tellus Brasil Participacoes S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | [6] | 19.57% | 5% |
Janus Brasil Participacoes S.A. [member] | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 20% | ||
Janus Brasil Participacoes S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | [6] | 19.57% | 5% |
Duguetiapar Empreendimentos e Participações S.A. [member] | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 20% | ||
Duguetiapar Empreendimentos e Participações S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | [6] | 19.57% | |
Gamiovapar Empreendimentos e Participações S.A. [member] | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | 20% | ||
Gamiovapar Empreendimentos e Participações S.A. [member] | Direct | |||
Disclosure of subsidiaries | |||
Percentage of ownership interest | [6] | 19.57% | |
[1] On December 23, 2022, the Company contributed its direct investment in Compass e to . As a result, now holds an indirect stake in Compass e of 67.58%. Subsidiary created to manage the Company's insurance contracts. On December 31, 2022, Lux had an unsecured liability of R$146,473. As shown in the table below, no events or conditions have been identified that, individually or collectively, raise substantial doubt about the entity's operational capacity to continue operating. The Company provides financial support to its subsidiaries. Entities created as part of the financial investment structure used to acquire Vale S.A. shares. See Note 1.3 contribution to Nove , the Company now directly and indirectly holds 33.63% of shares Entity sold to as presented in Note 20 For the highlighted entities, the Company has an indirect interest of 0.43%, which grants a total interest of 20% of the share capital. |
INVESTMENTS - Summary of Basi_2
INVESTMENTS - Summary of Basis of Consolidation (Detail) (Parenthetical) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 23, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Raizen S A [Member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Ownership interest percentage in joint venture | 33.63% | 44.02% | |
Compass Gás e Energia [member] | Indirect | |||
Disclosure of investments accounted for using equity method [line items] | |||
Percentage of ownership interest, subsidiary | 67.58% | ||
Cosan Luxembourg S A [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Unsecured liability | R$ 146473 | ||
Tellus Brasil Participacoes S.A. [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Percentage of ownership interest, subsidiary | 20% | ||
Tellus Brasil Participacoes S.A. [member] | Indirect | |||
Disclosure of investments accounted for using equity method [line items] | |||
Percentage of ownership interest, subsidiary | 0.43% | ||
Janus Brasil Participacoes S.A. [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Percentage of ownership interest, subsidiary | 20% | ||
Janus Brasil Participacoes S.A. [member] | Indirect | |||
Disclosure of investments accounted for using equity method [line items] | |||
Percentage of ownership interest, subsidiary | 0.43% | ||
Duguetiapar Empreendimentos e Participações S.A. [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Percentage of ownership interest, subsidiary | 20% | ||
Duguetiapar Empreendimentos e Participações S.A. [member] | Indirect | |||
Disclosure of investments accounted for using equity method [line items] | |||
Percentage of ownership interest, subsidiary | 0.43% | ||
Gamiovapar Empreendimentos e Participações S.A. [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Percentage of ownership interest, subsidiary | 20% | ||
Gamiovapar Empreendimentos e Participações S.A. [member] | Indirect | |||
Disclosure of investments accounted for using equity method [line items] | |||
Percentage of ownership interest, subsidiary | 0.43% |
INVESTMENTS - Summary of Inform
INVESTMENTS - Summary of Information in Associates of Company and Company's Ownership (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of investments accounted for using equity method [line items] | ||||
Beginning balance | R$ 780067 | |||
Interest in earnings of subsidiaries | (468,743) | R$ 130225 | R$ 28801 | |
Ending balance | 2,913,943 | 780,067 | ||
Associates [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Beginning balance | 780,067 | 383,851 | ||
Interest in earnings of subsidiaries | 468,743 | 130,225 | ||
Change of equity interest in subsidiary | 135,159 | |||
Other comprehensive income | 5,536 | 7,856 | ||
Dividends | (146,554) | (15,099) | ||
Disposal of investment | [1] | 155,397 | ||
Capital increase | 138,531 | 398,538 | ||
Business Combination (Note 8.3) | 1,379,994 | (125,130) | ||
Other | (2,930) | (174) | ||
Ending balance | 2,913,943 | 780,067 | 383,851 | |
Associates [member] | Tellus Brasil Participacoes S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Beginning balance | 142,798 | 105,665 | ||
Interest in earnings of subsidiaries | 128,860 | 39,938 | ||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (30,756) | (2,805) | ||
Disposal of investment | [1] | |||
Capital increase | 58,806 | |||
Business Combination (Note 8.3) | (299,708) | |||
Other | ||||
Ending balance | 142,798 | 105,665 | ||
Associates [member] | Janus Brasil Participacoes S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Beginning balance | 183,357 | 130,901 | ||
Interest in earnings of subsidiaries | 150,687 | 49,235 | ||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (35,559) | (1,738) | ||
Disposal of investment | [1] | |||
Capital increase | 79,725 | 4,959 | ||
Business Combination (Note 8.3) | (378,210) | |||
Other | ||||
Ending balance | 183,357 | 130,901 | ||
Associates [member] | Rhall Terminais Ltda. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 28,580 | |||
Investor's shares | 8,574 | |||
Equity interest | 30% | |||
Economic benefit (%) | 30% | |||
Beginning balance | R$ 4907 | 3,765 | ||
Interest in earnings of subsidiaries | 1,647 | 1,145 | ||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (900) | (3) | ||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | ||||
Other | ||||
Ending balance | R$ 5654 | 4,907 | 3,765 | |
Associates [member] | Termag - Terminal Marítimo de Guarujá S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 500,000 | |||
Investor's shares | 99,246 | |||
Equity interest | 19.85% | |||
Economic benefit (%) | 19.85% | |||
Beginning balance | R$ 4725 | 1,673 | ||
Interest in earnings of subsidiaries | 4,445 | 3,810 | ||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | ||||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | ||||
Other | (706) | (758) | ||
Ending balance | R$ 8464 | 4,725 | 1,673 | |
Associates [member] | TGG - Terminal de Granéis do Guarujá S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 79,747,000 | |||
Investor's shares | 7,914,609 | |||
Equity interest | 9.92% | |||
Economic benefit (%) | 9.92% | |||
Beginning balance | R$ 17563 | 18,679 | ||
Interest in earnings of subsidiaries | 5,689 | 3,850 | ||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (5,784) | (4,966) | ||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | ||||
Other | ||||
Ending balance | R$ 17468 | 17,563 | 18,679 | |
Associates [member] | Terminal XXXIX S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 200,000 | |||
Investor's shares | 99,246 | |||
Equity interest | 49.62% | |||
Economic benefit (%) | 49.62% | |||
Beginning balance | R$ 30649 | 26,597 | ||
Interest in earnings of subsidiaries | 22,487 | 4,052 | ||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | ||||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | ||||
Other | ||||
Ending balance | R$ 53136 | 30,649 | 26,597 | |
Associates [member] | Gás de Alagoas S.A. - ALGÁS [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 810,896,963 | |||
Investor's shares | 238,728,878 | |||
Equity interest | 29.44% | |||
Economic benefit (%) | 29.44% | |||
Associates [member] | Elevações Portuarias S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Beginning balance | ||||
Interest in earnings of subsidiaries | 6,190 | |||
Change of equity interest in subsidiary | 135,159 | |||
Other comprehensive income | ||||
Dividends | ||||
Disposal of investment | [1] | 155,397 | ||
Capital increase | ||||
Business Combination (Note 8.3) | ||||
Other | ||||
Ending balance | 296,746 | |||
Associates [member] | TUP Porto São Luis S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Beginning balance | 394,380 | |||
Interest in earnings of subsidiaries | 49 | 801 | ||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | ||||
Disposal of investment | [1] | |||
Capital increase | 393,579 | |||
Business Combination (Note 8.3) | (393,579) | |||
Other | (850) | |||
Ending balance | 394,380 | |||
Associates [member] | Companhia de Gás do Ceará - Cegás [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 39,400,000 | |||
Investor's shares | 11,599,428 | |||
Equity interest | 29.44% | |||
Economic benefit (%) | 29.44% | |||
Beginning balance | ||||
Interest in earnings of subsidiaries | 6,717 | |||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (4,189) | |||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | 182,009 | |||
Other | ||||
Ending balance | R$ 184537 | |||
Associates [member] | CEG Rio S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 1,995,022,625 | |||
Investor's shares | 746,251,086 | |||
Equity interest | 37.41% | |||
Economic benefit (%) | 37.41% | |||
Beginning balance | ||||
Interest in earnings of subsidiaries | 29,686 | |||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (16,542) | |||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | 261,336 | |||
Other | ||||
Ending balance | R$ 274480 | |||
Associates [member] | Companhia Paranaense de Gás - Compagás [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 33,600,000 | |||
Investor's shares | 8,232,000 | |||
Equity interest | 24.50% | |||
Economic benefit (%) | 24.50% | |||
Beginning balance | ||||
Interest in earnings of subsidiaries | 19,931 | |||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (6,831) | |||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | 411,737 | |||
Other | ||||
Ending balance | R$ 424837 | |||
Associates [member] | Companhia Potiguar de Gás - Potigas [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 4,245,000 | |||
Investor's shares | 3,523,350 | |||
Equity interest | 83% | |||
Economic benefit (%) | 83% | |||
Beginning balance | ||||
Interest in earnings of subsidiaries | 9,066 | |||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (8,390) | |||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | 168,211 | |||
Other | ||||
Ending balance | R$ 168887 | |||
Associates [member] | Companhia de Gás de Mato Grosso do Sul - Msgás [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 61,610,000 | |||
Investor's shares | 30,188,900 | |||
Equity interest | 49% | |||
Economic benefit (%) | 49% | |||
Beginning balance | ||||
Interest in earnings of subsidiaries | 13,530 | |||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (6,160) | |||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | 284,173 | |||
Other | ||||
Ending balance | R$ 291543 | |||
Associates [member] | Companhia de Gás de Santa Catarina - Scgás [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 10,749,497 | |||
Investor's shares | 4,407,293 | |||
Equity interest | 41% | |||
Economic benefit (%) | 41% | |||
Beginning balance | ||||
Interest in earnings of subsidiaries | 34,885 | |||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (15,524) | |||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | 608,468 | |||
Other | ||||
Ending balance | R$ 627829 | |||
Associates [member] | Sergipe Gás S.A. - SERGÁS [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 1,593,656 | |||
Investor's shares | 661,363 | |||
Equity interest | 41.50% | |||
Economic benefit (%) | 41.50% | |||
Beginning balance | ||||
Interest in earnings of subsidiaries | 9,015 | |||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (3,441) | |||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | 63,856 | |||
Other | ||||
Ending balance | R$ 69430 | |||
Associates [member] | Companhia Pernambucana de Gás - Copergás [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Number of shares in the investee | 163,485,912 | |||
Investor's shares | 67,846,653 | |||
Equity interest | 41.50% | |||
Economic benefit (%) | 41.50% | |||
Beginning balance | ||||
Interest in earnings of subsidiaries | 19,094 | |||
Change of equity interest in subsidiary | ||||
Other comprehensive income | ||||
Dividends | (9,493) | |||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | 405,700 | |||
Other | ||||
Ending balance | 415,301 | |||
Associates [member] | Other investments [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Beginning balance | 1,688 | 996 | ||
Interest in earnings of subsidiaries | 6,765 | 16,331 | ||
Change of equity interest in subsidiary | ||||
Other comprehensive income | 5,536 | 5,243 | ||
Dividends | (2,985) | (2,854) | ||
Disposal of investment | [1] | |||
Capital increase | ||||
Business Combination (Note 8.3) | 66,001 | (59,906) | ||
Other | (1,374) | 41,878 | ||
Ending balance | 75,631 | 1,688 | 996 | |
Associates [member] | Radar Propriedades Agricolas S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Beginning balance | 62,371 | |||
Interest in earnings of subsidiaries | (1,688) | |||
Other comprehensive income | 1,060 | |||
Dividends | (879) | |||
Capital increase | ||||
Business Combination (Note 8.3) | (19,565) | |||
Other | (41,299) | |||
Ending balance | 62,371 | |||
Associates [member] | Radar II Propriedades Agricolas S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Beginning balance | 33,204 | |||
Interest in earnings of subsidiaries | 12,751 | |||
Other comprehensive income | 1,553 | |||
Dividends | (1,854) | |||
Capital increase | ||||
Business Combination (Note 8.3) | (45,659) | |||
Other | 5 | |||
Ending balance | R$ 33204 | |||
[1]Effect of the sale of control as described in Note . |
INVESTMENTS - Summary of Financ
INVESTMENTS - Summary of Financial Information of Associates (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of investments accounted for using equity method [line items] | ||||
Assets | R$ 134484992 | R$ 97842023 | ||
Liabilities | (86,315,593) | (68,972,001) | ||
Shareholders' equity | 48,169,399 | 28,870,022 | R$ 20818867 | R$ 16240481 |
Profit (loss) for the year | 2,820,875 | 6,696,460 | R$ 1488294 | |
Tellus Brasil Participações Ltda [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Assets | 3,296,499 | |||
Liabilities | (502,734) | |||
Shareholders' equity | 2,793,765 | |||
Profit (loss) for the year | 782,220 | |||
Janus Brasil Participacoes S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Assets | 4,261,432 | |||
Liabilities | (666,361) | |||
Shareholders' equity | 3,595,071 | |||
Profit (loss) for the year | 1,048,514 | |||
Rhall Terminais Ltda. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Assets | 33,382 | 31,068 | ||
Liabilities | (14,534) | (14,708) | ||
Shareholders' equity | 18,848 | 16,360 | ||
Profit (loss) for the year | 5,811 | 4,073 | ||
Elevações Portuarias S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Assets | 950,538 | |||
Liabilities | (243,797) | |||
Shareholders' equity | 706,741 | |||
Profit (loss) for the year | 127,554 | |||
Termag - Marítimo Terminal de Guarujá S.A. | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Assets | 273,760 | 276,284 | ||
Liabilities | (231,119) | (252,483) | ||
Shareholders' equity | 42,641 | 23,801 | ||
Profit (loss) for the year | 19,881 | 11,726 | ||
TGG - Terminal de Granéis do Guarujá S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Assets | 254,748 | 253,310 | ||
Liabilities | (78,657) | (76,257) | ||
Shareholders' equity | 176,091 | 177,053 | ||
Profit (loss) for the year | 58,139 | 37,150 | ||
Terminal XXXIX S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Assets | 433,412 | 335,511 | ||
Liabilities | (388,882) | (273,747) | ||
Shareholders' equity | 44,530 | 61,764 | ||
Profit (loss) for the year | 44,530 | 10,075 | ||
TUP Porto São Luis S.A. [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Assets | 455,437 | |||
Liabilities | (67,523) | |||
Shareholders' equity | 387,914 | |||
Profit (loss) for the year | R$ 7410 |
INVESTMENTS - Summary of Non-co
INVESTMENTS - Summary of Non-controlling Interests in Subsidiaries (Detail) | 12 Months Ended |
Dec. 31, 2022 shares | |
Tellus Brasil Participacoes S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 133,064,584 |
Non-controlling shareholders’ shares | 52,960,392 |
Non-controlling shareholders’ equity interest | 80.43% |
Janus Brasil Participacoes S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 286,370,051 |
Non-controlling shareholders’ shares | 112,905,168 |
Non-controlling shareholders’ equity interest | 80.43% |
Duguetiapar Empreendimentos e Participações S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 3,573,842 |
Non-controlling shareholders’ shares | 1,409,865 |
Non-controlling shareholders’ equity interest | 80.43% |
Gamiovapar Empreendimentos e Participações S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 12,912,970 |
Non-controlling shareholders’ shares | 5,093,776 |
Non-controlling shareholders’ equity interest | 80.43% |
Rumo S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 1,854,158,791 |
Non-controlling shareholders’ shares | 1,291,629,301 |
Non-controlling shareholders’ equity interest | 69.66% |
Radar Propriedades Agricolas S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 1,266,986 |
Non-controlling shareholders’ shares | 633,493 |
Non-controlling shareholders’ equity interest | 58.55% |
Nova Agrícola Ponte Alta S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 160,693,378 |
Non-controlling shareholders’ shares | 80,346,689 |
Non-controlling shareholders’ equity interest | 58.55% |
Terras da Ponta Alta S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 16,066,329 |
Non-controlling shareholders’ shares | 8,033,165 |
Non-controlling shareholders’ equity interest | 58.55% |
Nova Santa Bárbara Agrícola S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 32,336,994 |
Non-controlling shareholders’ shares | 16,168,497 |
Non-controlling shareholders’ equity interest | 58.55% |
Nova Amaralina Propriedades Agrícolas S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 30,603,159 |
Non-controlling shareholders’ shares | 15,301,580 |
Non-controlling shareholders’ equity interest | 58.55% |
Paineira Propriedades Agrícolas S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 132,667,061 |
Non-controlling shareholders’ shares | 66,333,531 |
Non-controlling shareholders’ equity interest | 58.55% |
Manacá Propriedades Agrícolas S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 128,977,921 |
Non-controlling shareholders’ shares | 64,488,961 |
Non-controlling shareholders’ equity interest | 58.55% |
Castanheira Propriedades Agrícolas S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 83,850,838 |
Non-controlling shareholders’ shares | 41,925,419 |
Non-controlling shareholders’ equity interest | 58.55% |
Radar II Propriedades Agricolas S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 81,440,221 |
Non-controlling shareholders’ shares | 40,720,111 |
Non-controlling shareholders’ equity interest | 50% |
Commit Gás S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 110,993 |
Non-controlling shareholders’ shares | 54,387 |
Non-controlling shareholders’ equity interest | 49% |
Sinlog Tecnologia em Logística S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 108,567 |
Non-controlling shareholders’ shares | 46,164 |
Non-controlling shareholders’ equity interest | 42.52% |
Cosan Lubes Investments S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 34,963,764 |
Non-controlling shareholders’ shares | 10,489,129 |
Non-controlling shareholders’ equity interest | 30% |
Cosan Nove Participações S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 7,663,761,734 |
Non-controlling shareholders’ shares | 2,062,583,640 |
Non-controlling shareholders’ equity interest | 26.91% |
Cosan Dez Participações S.A. [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 3,473,458,687 |
Non-controlling shareholders’ shares | 805,963,829 |
Non-controlling shareholders’ equity interest | 23.20% |
Compass Gás e Energia [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 714,190,095 |
Non-controlling shareholders’ shares | 85,702,404 |
Non-controlling shareholders’ equity interest | 12% |
Comgas [member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 132,520,587 |
Non-controlling shareholders’ shares | 1,139,210 |
Non-controlling shareholders’ equity interest | 0.86% |
Cosan Limited Partners Brasil Consultoria Ltda [Member] | |
Disclosure of investments accounted for using equity method [line items] | |
Number of shares in the investee | 160,000 |
Non-controlling shareholders’ shares | 4,000 |
Non-controlling shareholders’ equity interest | 2.50% |
INVESTMENTS - Summary of Change
INVESTMENTS - Summary of Changes in Non-controlling Interests in Subsidiaries (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | R$ 14129085 | R$ 15558784 | |||
Profit (loss), attributable to non-controlling interests | 1,644,843 | 384,320 | R$ 628812 | ||
Sales or purchase of interests | (4,121,509) | (1,835,552) | |||
Other comprehensive income | (95,471) | (88,086) | |||
Dividends | (912,735) | (164,908) | |||
Capital increase | 7,889,251 | [1],[2] | 2,252,306 | ||
Acquisition of non-controlling interest | (1,092,374) | ||||
Business combination (Note 8.3) | 10,062,503 | ||||
Other | (12,639) | 2,131,407 | |||
Predecessor adjustments | (4,109,186) | ||||
Ending balance | 27,516,232 | 14,129,085 | 15,558,784 | ||
Comgas [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 28,466 | 24,729 | |||
Profit (loss), attributable to non-controlling interests | 14,881 | 17,524 | |||
Sales or purchase of interests | |||||
Other comprehensive income | 625 | ||||
Dividends | (16,926) | (14,184) | |||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | 730 | (228) | |||
Predecessor adjustments | |||||
Ending balance | 27,151 | 28,466 | 24,729 | ||
Sulgás [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 6,466 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | (26,701) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | (888,450) | ||||
Business combination (Note 8.3) | 908,883 | ||||
Other | (198) | ||||
Ending balance | |||||
Commit Gás S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 107,593 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | (64,435) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | 2,015,493 | ||||
Other | |||||
Ending balance | 2,058,651 | ||||
Compass Gas E Energia S A [Member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 761,432 | 32,880 | |||
Profit (loss), attributable to non-controlling interests | 221,871 | 74,390 | |||
Sales or purchase of interests | (78) | (1,505,311) | |||
Other comprehensive income | 3,197 | 7,698 | |||
Dividends | (201,024) | (97,187) | |||
Capital increase | [1],[2] | 2,250,015 | |||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | (2,815) | (1,053) | |||
Predecessor adjustments | |||||
Ending balance | 782,583 | 761,432 | 32,880 | ||
Rumo S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 10,527,777 | ||||
Profit (loss), attributable to non-controlling interests | 357,642 | ||||
Sales or purchase of interests | (21,358) | ||||
Other comprehensive income | 2,061 | ||||
Dividends | (89,194) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | 20,218 | ||||
Ending balance | 10,797,146 | 10,527,777 | |||
Sinlog Tecnologia em Logística S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 6,549 | ||||
Profit (loss), attributable to non-controlling interests | (7,677) | ||||
Sales or purchase of interests | 16,039 | ||||
Other comprehensive income | |||||
Dividends | |||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | |||||
Ending balance | 14,911 | 6,549 | |||
Cosan Limited Partners Brasil [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 14 | ||||
Profit (loss), attributable to non-controlling interests | (5) | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | |||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | |||||
Ending balance | 9 | 14 | |||
Cosan Lubes Investments S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 683,143 | ||||
Profit (loss), attributable to non-controlling interests | 145,981 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | (127,123) | ||||
Dividends | |||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | |||||
Ending balance | 702,001 | 683,143 | |||
Payly [Member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 2,602 | ||||
Profit (loss), attributable to non-controlling interests | (1,626) | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | |||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | (976) | ||||
Ending balance | 2,602 | ||||
Cosan Nove Participações S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 53,353 | ||||
Sales or purchase of interests | (1,416,657) | ||||
Other comprehensive income | 10,070 | ||||
Dividends | (12,434) | ||||
Capital increase | [1],[2] | 4,000,910 | |||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | (932) | ||||
Ending balance | 2,634,310 | ||||
Cosan Dez Participações S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 14,965 | ||||
Sales or purchase of interests | (2,592,096) | ||||
Other comprehensive income | 5,073 | ||||
Dividends | (3,540) | ||||
Capital increase | [1],[2] | 3,888,341 | |||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | (10,082) | ||||
Ending balance | 1,302,661 | ||||
Janus Brasil Participacoes S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | (10,971) | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | |||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | (196,857) | ||||
Business combination (Note 8.3) | 3,981,107 | ||||
Other | |||||
Ending balance | 3,773,279 | ||||
Tellus Brasil Participacoes S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 8,531 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | |||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | (7,508) | ||||
Business combination (Note 8.3) | 2,583,035 | ||||
Other | |||||
Ending balance | 2,584,058 | ||||
Gamiovapar Empreendimentos e Participações S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 2,900 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | |||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | 4,975 | ||||
Business combination (Note 8.3) | 497,806 | ||||
Other | |||||
Ending balance | 505,681 | ||||
Duguetiapar Empreendimentos e Participações S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | (788) | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | |||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | (4,534) | ||||
Business combination (Note 8.3) | 76,179 | ||||
Other | |||||
Ending balance | 70,857 | ||||
Radar II Propriedades Agricolas S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 246,698 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | 108 | ||||
Dividends | (124,858) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | 756,931 | ||||
Ending balance | 878,879 | ||||
Radar Propriedades Agricolas S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 34,002 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | (20,516) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | 198,579 | ||||
Ending balance | 212,065 | ||||
Nova Agrícola Ponte Alta S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 97,035 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | (50,267) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | 319,039 | ||||
Ending balance | 365,807 | ||||
Nova Amaralina Propriedades Agrícolas S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 8,000 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | (31,444) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | 25,485 | ||||
Ending balance | 2,041 | ||||
Nova Santa Bárbara Agrícola S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 53,686 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | (5,041) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | 152,744 | ||||
Ending balance | 201,389 | ||||
Terras da Ponta Alta S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 39,890 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | (16,778) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | 50,309 | ||||
Ending balance | 73,421 | ||||
Paineira Propriedades Agrícolas S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 58,604 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | (27,222) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | 126,402 | ||||
Ending balance | 157,784 | ||||
Manacá Propriedades Agrícolas S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 46,793 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | (23,319) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | 137,079 | ||||
Ending balance | 160,553 | ||||
Castanheira Propriedades Agrícolas S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | |||||
Profit (loss), attributable to non-controlling interests | 77,819 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | (66,151) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | 199,327 | ||||
Ending balance | 210,995 | ||||
Violeta Fundo de Investimento Multimercado [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 2,119,102 | ||||
Profit (loss), attributable to non-controlling interests | 69,200 | ||||
Sales or purchase of interests | (107,359) | ||||
Other comprehensive income | 11,143 | ||||
Dividends | (132,885) | ||||
Capital increase | [1],[2] | ||||
Acquisition of non-controlling interest | |||||
Business combination (Note 8.3) | |||||
Other | (1,959,201) | ||||
Ending balance | 2,119,102 | ||||
Cosan S.A. [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 3,492,829 | ||||
Profit (loss), attributable to non-controlling interests | 69,890 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | (115,049) | ||||
Dividends | |||||
Capital increase | |||||
Other | 1,023 | ||||
Predecessor adjustments | (3,448,693) | ||||
Ending balance | 3,492,829 | ||||
Cosan Logistica [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 658,158 | ||||
Profit (loss), attributable to non-controlling interests | 4,898 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | 358 | ||||
Dividends | |||||
Capital increase | |||||
Other | |||||
Predecessor adjustments | (663,414) | ||||
Ending balance | 658,158 | ||||
CLI [Member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 683,144 | 582,284 | |||
Profit (loss), attributable to non-controlling interests | 87,823 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | 13,037 | ||||
Dividends | |||||
Capital increase | |||||
Other | |||||
Predecessor adjustments | |||||
Ending balance | 683,144 | 582,284 | |||
Rumo [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 10,494,071 | 10,709,017 | |||
Profit (loss), attributable to non-controlling interests | 107,690 | ||||
Sales or purchase of interests | (318,323) | ||||
Other comprehensive income | 5,358 | ||||
Dividends | (27,989) | ||||
Capital increase | |||||
Other | 15,748 | ||||
Predecessor adjustments | 2,570 | ||||
Ending balance | 10,494,071 | 10,709,017 | |||
Logispot Armazens Gerais S A [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 33,706 | 35,513 | |||
Profit (loss), attributable to non-controlling interests | 2,225 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | |||||
Dividends | (4,032) | ||||
Capital increase | |||||
Other | |||||
Predecessor adjustments | |||||
Ending balance | 33,706 | 35,513 | |||
Radar [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | 2,119,102 | ||||
Profit (loss), attributable to non-controlling interests | 22,502 | ||||
Sales or purchase of interests | |||||
Other comprehensive income | 900 | ||||
Dividends | (19,854) | ||||
Capital increase | |||||
Other | 2,115,554 | ||||
Predecessor adjustments | |||||
Ending balance | 2,119,102 | ||||
Other investments [member] | |||||
Disclosure of investments accounted for using equity method [line items] | |||||
Beginning balance | R$ 9164 | 23,374 | |||
Profit (loss), attributable to non-controlling interests | (2,622) | ||||
Sales or purchase of interests | (11,918) | ||||
Other comprehensive income | (1,013) | ||||
Dividends | (1,662) | ||||
Capital increase | 2,291 | ||||
Other | 363 | ||||
Predecessor adjustments | 351 | ||||
Ending balance | R$ 9164 | R$ 23374 | |||
[1] The capital increase is stated net of preferred share issuance costs. |
INVESTMENTS - Summary of Chan_2
INVESTMENTS - Summary of Changes in Non-controlling Interests in Subsidiaries (Detail) (Parenthetical) | 12 Months Ended | |||
Dec. 23, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Raizen S A [Member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Ownership interest percentage in joint venture | 33.63% | 44.02% | ||
Compass Gas E Energia S A [Member] | Direct | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Percentage of ownership interest, subsidiary | [1] | 88% | ||
Ownership interest percentage in joint venture | 67.58% | |||
Cosan Nove Participações S.A. [member] | Direct | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Percentage of ownership interest, subsidiary | [2] | 73.09% | ||
Cosan Nove Participações S.A. [member] | Direct | Common shares [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Percentage of ownership interest, subsidiary | 100% | |||
Cosan Dez Participações S.A. [member] | Direct | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Percentage of ownership interest, subsidiary | [2] | 76.80% | ||
Cosan Dez Participações S.A. [member] | Direct | Common shares [member] | ||||
Disclosure of investments accounted for using equity method [line items] | ||||
Percentage of ownership interest, subsidiary | 100% | |||
[1] On December 23, 2022, the Company contributed its direct investment in Compass e to . As a result, now holds an indirect stake in Compass e of 67.58%. Entities created as part of the financial investment structure used to acquire Vale S.A. shares. See Note 1.3 contribution to Nove , the Company now directly and indirectly holds 33.63% of shares |
INVESTMENTS - Summary of Fina_2
INVESTMENTS - Summary of Financial Position (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current | |||||
Assets | R$ 25577934 | R$ 27293183 | |||
Liabilities | (15,798,213) | (12,957,036) | |||
Current net assets | (9,779,721) | (14,336,147) | |||
Non-current | |||||
Assets | 108,907,058 | 70,548,840 | |||
Liabilities | (70,517,380) | (56,014,965) | |||
Total shareholders' equity | 48,169,399 | 28,870,022 | R$ 20818867 | R$ 16240481 | |
Compass [member] | |||||
Current | |||||
Assets | [1] | 1,929,639 | |||
Liabilities | [1] | (28,374) | |||
Current net assets | [1] | 1,901,265 | |||
Non-current | |||||
Assets | [1] | 4,453,679 | |||
Liabilities | [1] | (10,296) | |||
Non-current net assets | [1] | 4,443,383 | |||
Total shareholders' equity | [1] | 6,344,648 | |||
Cosan Dez [member] | |||||
Current | |||||
Assets | [1] | 2,015 | |||
Liabilities | [1] | (126,916) | |||
Current net assets | [1] | (124,901) | |||
Non-current | |||||
Assets | [1] | 5,738,715 | |||
Liabilities | [1] | ||||
Non-current net assets | [1] | 5,738,715 | |||
Total shareholders' equity | [1] | 5,613,814 | |||
Cosan Nove [member] | |||||
Current | |||||
Assets | 2,721 | ||||
Liabilities | (169,079) | ||||
Current net assets | (166,358) | ||||
Non-current | |||||
Assets | 9,954,431 | ||||
Liabilities | |||||
Non-current net assets | 9,954,431 | ||||
Total shareholders' equity | 9,788,073 | ||||
Comgas [member] | |||||
Current | |||||
Assets | 4,810,931 | 4,148,735 | |||
Liabilities | (3,844,998) | (4,538,385) | |||
Current net assets | 965,933 | (389,650) | |||
Non-current | |||||
Assets | 7,853,180 | 8,122,763 | |||
Liabilities | (7,798,360) | (6,627,895) | |||
Non-current net assets | 54,820 | 1,494,868 | |||
Total shareholders' equity | 1,020,753 | 1,105,218 | |||
Moove [member] | |||||
Current | |||||
Assets | 1,777,104 | 1,327,472 | |||
Liabilities | (1,341,106) | (755,995) | |||
Current net assets | 435,998 | 571,477 | |||
Non-current | |||||
Assets | 2,204,878 | 1,946,181 | |||
Liabilities | (1,208,604) | (229,802) | |||
Non-current net assets | 996,274 | 1,716,379 | |||
Total shareholders' equity | 1,432,272 | 2,287,856 | |||
Rumo S.A. [member] | |||||
Current | |||||
Assets | 2,474,218 | 1,161,027 | |||
Liabilities | (852,071) | (760,522) | |||
Current net assets | 1,622,147 | 400,505 | |||
Non-current | |||||
Assets | 20,971,764 | 21,568,088 | |||
Liabilities | (7,402,742) | (7,173,172) | |||
Non-current net assets | 13,569,022 | 14,394,916 | |||
Total shareholders' equity | 15,191,169 | 14,795,421 | |||
Cosan Investments [member] | |||||
Current | |||||
Assets | 784,813 | 147,662 | |||
Liabilities | (638,804) | (50,038) | |||
Current net assets | 146,009 | 97,624 | |||
Non-current | |||||
Assets | 14,251,017 | 4,337,142 | |||
Liabilities | (208,987) | (196,562) | |||
Non-current net assets | 14,042,030 | 4,140,580 | |||
Total shareholders' equity | R$ 14188039 | R$ 4238204 | |||
[1]On December 23, 2022, Cosan contributed the investment it held in Compass Gas and Power to Cosan Dez. |
INVESTMENTS - Summary of Profit
INVESTMENTS - Summary of Profit or Loss and Other Comprehensive Income (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of investments accounted for using equity method [line items] | |||
Net revenue | R$ 39737368 | R$ 25865001 | R$ 20437835 |
Profit before income taxes | 2,702,471 | 6,250,876 | 1,990,961 |
Income tax expenses | 118,404 | 445,584 | (502,667) |
Profit for the year | 2,820,875 | 6,696,460 | 1,488,294 |
Other comprehensive results | 993,684 | (467,466) | (605,401) |
Total comprehensive income for the year | 3,814,559 | 6,228,994 | 882,893 |
Attributable comprehensive income to non-controlling shareholders | 1,549,748 | 296,234 | 741,967 |
Dividends paid | 1,237,779 | 2,031,301 | 1,514,114 |
Compass [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Net revenue | |||
Profit before income taxes | 1,710,947 | 920,426 | |
Income tax expenses | 14,164 | 10,839 | |
Profit for the year | 1,725,111 | 931,265 | |
Other comprehensive results | |||
Total comprehensive income for the year | 1,725,111 | 931,265 | |
Attributable comprehensive income to non-controlling shareholders | 207,012 | 9,220 | |
Dividends paid | 982,752 | 600 | |
Cosan Dez [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Net revenue | |||
Profit before income taxes | 64,496 | ||
Income tax expenses | |||
Profit for the year | 64,496 | ||
Other comprehensive results | |||
Total comprehensive income for the year | 64,496 | ||
Attributable comprehensive income to non-controlling shareholders | 14,965 | ||
Dividends paid | |||
Cosan Nove [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Net revenue | |||
Profit before income taxes | 194,522 | ||
Income tax expenses | |||
Profit for the year | 194,522 | ||
Other comprehensive results | |||
Total comprehensive income for the year | 194,522 | ||
Attributable comprehensive income to non-controlling shareholders | 52,353 | ||
Dividends paid | |||
Comgas [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Net revenue | 17,414,153 | 11,709,713 | 8,317,691 |
Profit before income taxes | 2,113,698 | 2,274,269 | 1,719,877 |
Income tax expenses | (302,219) | (155,148) | (569,264) |
Profit for the year | 1,811,479 | 2,119,121 | 1,150,613 |
Other comprehensive results | 25,058 | ||
Total comprehensive income for the year | 1,836,537 | 2,119,121 | 1,150,613 |
Attributable comprehensive income to non-controlling shareholders | 15,788 | 18,217 | 9,762 |
Dividends paid | 1,872,731 | 1,649,653 | 1,135,669 |
Moove [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Net revenue | 3,842,981 | 2,608,680 | 1,911,541 |
Profit before income taxes | 485,729 | 310,500 | 150,930 |
Income tax expenses | 11,665 | (15,742) | (1,484) |
Profit for the year | 497,394 | 294,758 | 149,446 |
Other comprehensive results | |||
Total comprehensive income for the year | 497,394 | 294,758 | 149,446 |
Attributable comprehensive income to non-controlling shareholders | 149,218 | 88,427 | 44,834 |
Dividends paid | 150 | ||
Rumo S.A. [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Net revenue | 984,597 | 772,714 | 950,269 |
Profit before income taxes | 633,164 | 198,239 | 349,300 |
Income tax expenses | (118,224) | (47,701) | (52,137) |
Profit for the year | 514,940 | 150,538 | 297,163 |
Other comprehensive results | 2,961 | ||
Total comprehensive income for the year | 517,901 | 150,538 | 297,163 |
Attributable comprehensive income to non-controlling shareholders | 360,776 | 104,850 | 212,561 |
Dividends paid | 35,733 | ||
Cosan Investments [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Net revenue | 222,328 | 31,502 | |
Profit before income taxes | 4,059,326 | 49,218 | |
Income tax expenses | 1,027,986 | (4,215) | |
Profit for the year | 5,087,312 | 45,003 | |
Other comprehensive results | |||
Total comprehensive income for the year | 5,087,312 | 45,003 | |
Attributable comprehensive income to non-controlling shareholders | 681,889 | 22,502 | |
Dividends paid | R$ 1255881 |
INVESTMENTS - Summary of Cash F
INVESTMENTS - Summary of Cash Flows (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of investments accounted for using equity method [line items] | |||
Reduction of cash and cash equivalents | R$ 2468073 | R$ 2019747 | R$ 4820036 |
Cash and cash equivalents at the beginning of the year | 16,174,130 | 13,642,918 | 8,472,274 |
Effect of FX variation on the cash balance and cash equivalents | (404,341) | 511,465 | 350,608 |
Cash and cash equivalents at the end of the year | 13,301,716 | 16,174,130 | 13,642,918 |
Compass [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Cash (generated (used in) in operating activities | (44,974) | (18,046) | |
Cash (generated (used in) in investing activities | (26,764) | 776,872 | |
Cash generated (used in) in financing activities | 1,265,679 | (525,030) | |
Reduction of cash and cash equivalents | 1,193,941 | 233,796 | |
Cash and cash equivalents at the beginning of the year | 1,412,862 | 232,819 | 5 |
Cash and cash equivalents at the beginning of the year | |||
Effect of FX variation on the cash balance and cash equivalents | (13,898) | (982) | |
Cash and cash equivalents at the end of the year | |||
Cash and cash equivalents at the end of the year | 1,412,862 | 232,819 | |
Cosan Dez [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Cash (generated (used in) in operating activities | 3 | ||
Cash (generated (used in) in investing activities | |||
Cash generated (used in) in financing activities | 2,011 | ||
Reduction of cash and cash equivalents | 2,014 | ||
Cash and cash equivalents at the beginning of the year | |||
Effect of FX variation on the cash balance and cash equivalents | |||
Cash and cash equivalents at the end of the year | 2,014 | ||
Cosan Nove [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Cash (generated (used in) in operating activities | 2 | ||
Cash (generated (used in) in investing activities | (19,217) | ||
Cash generated (used in) in financing activities | 21,936 | ||
Reduction of cash and cash equivalents | 2,721 | ||
Cash and cash equivalents at the beginning of the year | |||
Effect of FX variation on the cash balance and cash equivalents | |||
Cash and cash equivalents at the end of the year | 2,721 | ||
Comgas [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Cash (generated (used in) in operating activities | 3,439,489 | 2,539,222 | 2,111,551 |
Cash (generated (used in) in investing activities | (646,720) | (1,025,104) | (1,768,298) |
Cash generated (used in) in financing activities | (2,443,161) | (2,202,275) | 198,890 |
Reduction of cash and cash equivalents | 349,608 | (688,157) | 542,143 |
Cash and cash equivalents at the beginning of the year | 891,650 | 1,610,548 | 1,083,410 |
Effect of FX variation on the cash balance and cash equivalents | (30,741) | (15,005) | |
Cash and cash equivalents at the end of the year | 1,241,258 | 891,650 | 1,610,548 |
Moove [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Cash (generated (used in) in operating activities | 292,204 | 95,461 | 71,654 |
Cash (generated (used in) in investing activities | (41,004) | 77,742 | (38,910) |
Cash generated (used in) in financing activities | (197,994) | (13,766) | 14,874 |
Reduction of cash and cash equivalents | 53,206 | 159,437 | 47,618 |
Cash and cash equivalents at the beginning of the year | 761,698 | 492,619 | 319,733 |
Effect of FX variation on the cash balance and cash equivalents | 109,642 | 125,268 | |
Cash and cash equivalents at the end of the year | 814,904 | 761,698 | 492,619 |
Rumo S.A. [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Cash (generated (used in) in operating activities | 145,654 | (15,679) | 463,170 |
Cash (generated (used in) in investing activities | 2,467,567 | (1,469,750) | (6,632,353) |
Cash generated (used in) in financing activities | (1,235,688) | 714,115 | 7,037,144 |
Reduction of cash and cash equivalents | 1,377,533 | (771,314) | 867,961 |
Cash and cash equivalents at the beginning of the year | 791,802 | 1,568,667 | 700,706 |
Effect of FX variation on the cash balance and cash equivalents | (5,551) | ||
Cash and cash equivalents at the end of the year | 2,169,335 | 791,802 | 1,568,667 |
Cosan Investments [member] | |||
Disclosure of investments accounted for using equity method [line items] | |||
Cash (generated (used in) in operating activities | 193,099 | 21,690 | |
Cash (generated (used in) in investing activities | (6,617) | 49,227 | |
Cash generated (used in) in financing activities | (189,917) | (15,650) | |
Reduction of cash and cash equivalents | (3,435) | 55,267 | |
Cash and cash equivalents at the beginning of the year | 55,267 | ||
Effect of FX variation on the cash balance and cash equivalents | |||
Cash and cash equivalents at the end of the year | R$ 51832 | R$ 55267 |
INVESTMENTS - Acquisition of su
INVESTMENTS - Acquisition of subsidiaries - Schedule of paid and payable consideration, as well as the fair value of the assets acquired and liabilities assumed as of the date of acquisition (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Oct. 20, 2022 | |
Disclosure of detailed information about business combination [line items] | ||||
Transferred consideration - 1st/single installment | R$ 6053185 | |||
Transferred consideration - 2nd installment | 426,224 | |||
Consideration to be transferred (term) | 804,773 | |||
Total consideration transferred | 7,284,182 | |||
Recognized amounts of identifiable assets acquired and liabilities assumed | ||||
Cash, cash equivalents and restricted cash | 651,319 | |||
Trade receivables | 685,395 | |||
Inventories | 447,619 | |||
Sectorial assets | 59,757 | |||
Right-of-use assets | 119,655 | |||
Dividends receivable | 202,968 | |||
Current assets for sale | 726,243 | |||
Investment property and property held for sale | 9,478,011 | |||
Contract asset | 87,735 | |||
Tax credits | 13,531 | |||
Fixed assets | 834,888 | |||
Intangible assets | 4,508,809 | |||
Investments | 2,451,491 | |||
Other credits | 302,712 | |||
Suppliers | (470,481) | |||
Loans and financing | (12,825) | |||
Deferred income tax and social contribution | (1,574,094) | |||
Taxes to pay | (76,482) | |||
Provision for contingencies | (24,916) | |||
Sectorial liabilities | (140,405) | |||
Dividends payable | (686,490) | |||
Lease | (174,229) | |||
Other obligations | (174,916) | |||
Non-controlling shareholders' equity interest | (10,062,503) | |||
Net assets acquired at fair value | 7,172,792 | |||
Transferred consideration for acquisition of non-controlling interests | (468,070) | |||
Non-controlling shareholders' equity interest | 888,649 | |||
Previously held equity interest | (1,071,497) | |||
Bargain purchase gain | (99,341) | R$ 416268 | ||
Transferred consideration, net of non-controlling interests | 6,422,533 | |||
Cash received | (651,319) | |||
Cash to be transferred, referring to the acquisition made in installments | (804,773) | |||
Settled cash referring to installments of previous acquisitions | 322,255 | |||
Transferred consideration, net of acquired cash and non-controlling interests | 5,288,696 | |||
Sulgás acquisition [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Transferred consideration - 1st/single installment | 945,979 | |||
Transferred consideration - 2nd installment | ||||
Consideration to be transferred (term) | ||||
Total consideration transferred | 945,979 | |||
Recognized amounts of identifiable assets acquired and liabilities assumed | ||||
Cash, cash equivalents and restricted cash | 73,298 | |||
Trade receivables | 90,828 | |||
Inventories | 7,274 | |||
Sectorial assets | ||||
Right-of-use assets | 3,786 | |||
Dividends receivable | ||||
Current assets for sale | ||||
Investment property and property held for sale | ||||
Contract asset | 25,958 | |||
Tax credits | ||||
Fixed assets | ||||
Intangible assets | 2,749,893 | |||
Investments | ||||
Other credits | 142,180 | |||
Suppliers | (107,833) | |||
Loans and financing | ||||
Deferred income tax and social contribution | (871,183) | |||
Taxes to pay | (14,647) | |||
Provision for contingencies | (10,551) | |||
Sectorial liabilities | (117,881) | |||
Dividends payable | (104,048) | |||
Lease | (3,940) | |||
Other obligations | (8,272) | |||
Non-controlling shareholders' equity interest | (908,883) | |||
Net assets acquired at fair value | 945,979 | |||
Transferred consideration for acquisition of non-controlling interests | ||||
Non-controlling shareholders' equity interest | ||||
Previously held equity interest | ||||
Bargain purchase gain | ||||
Transferred consideration, net of non-controlling interests | 945,979 | |||
Cash received | (73,298) | |||
Cash to be transferred, referring to the acquisition made in installments | ||||
Settled cash referring to installments of previous acquisitions | ||||
Transferred consideration, net of acquired cash and non-controlling interests | 872,681 | |||
Commit acquisition [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Transferred consideration - 1st/single installment | 2,097,758 | |||
Transferred consideration - 2nd installment | ||||
Consideration to be transferred (term) | ||||
Total consideration transferred | 2,097,758 | |||
Recognized amounts of identifiable assets acquired and liabilities assumed | ||||
Cash, cash equivalents and restricted cash | 124,174 | |||
Trade receivables | 142,528 | |||
Inventories | 3,859 | |||
Sectorial assets | 59,757 | |||
Right-of-use assets | 4,785 | |||
Dividends receivable | 254,493 | |||
Current assets for sale | 726,243 | |||
Investment property and property held for sale | ||||
Contract asset | 61,777 | |||
Tax credits | ||||
Fixed assets | 257 | |||
Intangible assets | 988,847 | |||
Investments | 2,528,220 | |||
Other credits | 87,248 | |||
Suppliers | (90,689) | |||
Loans and financing | ||||
Deferred income tax and social contribution | (649,324) | |||
Taxes to pay | (31,217) | |||
Provision for contingencies | (11,508) | |||
Sectorial liabilities | (22,524) | |||
Dividends payable | ||||
Lease | (8,543) | |||
Other obligations | (55,132) | |||
Non-controlling shareholders' equity interest | (2,015,493) | |||
Net assets acquired at fair value | 2,097,758 | |||
Transferred consideration for acquisition of non-controlling interests | (468,070) | |||
Non-controlling shareholders' equity interest | ||||
Previously held equity interest | ||||
Bargain purchase gain | ||||
Transferred consideration, net of non-controlling interests | 1,629,688 | |||
Cash received | (124,174) | |||
Cash to be transferred, referring to the acquisition made in installments | ||||
Settled cash referring to installments of previous acquisitions | ||||
Transferred consideration, net of acquired cash and non-controlling interests | 1,505,514 | |||
TUP acquisition [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Transferred consideration - 1st/single installment | 393,579 | |||
Transferred consideration - 2nd installment | 411,224 | |||
Consideration to be transferred (term) | ||||
Total consideration transferred | 804,803 | |||
Recognized amounts of identifiable assets acquired and liabilities assumed | ||||
Cash, cash equivalents and restricted cash | 81,800 | |||
Trade receivables | ||||
Inventories | ||||
Sectorial assets | ||||
Right-of-use assets | ||||
Dividends receivable | ||||
Current assets for sale | ||||
Investment property and property held for sale | ||||
Contract asset | ||||
Tax credits | 1,841 | |||
Fixed assets | 351,041 | |||
Intangible assets | 437,587 | |||
Investments | ||||
Other credits | 155 | |||
Suppliers | (202) | |||
Loans and financing | ||||
Deferred income tax and social contribution | (66,606) | |||
Taxes to pay | ||||
Provision for contingencies | (143) | |||
Sectorial liabilities | ||||
Dividends payable | ||||
Lease | ||||
Other obligations | (670) | |||
Non-controlling shareholders' equity interest | ||||
Net assets acquired at fair value | 804,803 | |||
Transferred consideration for acquisition of non-controlling interests | ||||
Non-controlling shareholders' equity interest | ||||
Previously held equity interest | (393,579) | |||
Bargain purchase gain | ||||
Transferred consideration, net of non-controlling interests | 411,224 | |||
Cash received | (81,800) | |||
Cash to be transferred, referring to the acquisition made in installments | ||||
Settled cash referring to installments of previous acquisitions | ||||
Transferred consideration, net of acquired cash and non-controlling interests | 329,424 | |||
Tirreno acquisition [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Transferred consideration - 1st/single installment | 70,188 | |||
Transferred consideration - 2nd installment | 15,000 | |||
Consideration to be transferred (term) | ||||
Total consideration transferred | 85,188 | |||
Recognized amounts of identifiable assets acquired and liabilities assumed | ||||
Cash, cash equivalents and restricted cash | 1,476 | |||
Trade receivables | 35,882 | |||
Inventories | 19,121 | |||
Sectorial assets | ||||
Right-of-use assets | 16,664 | |||
Dividends receivable | ||||
Current assets for sale | ||||
Investment property and property held for sale | ||||
Contract asset | ||||
Tax credits | 2,134 | |||
Fixed assets | 5,015 | |||
Intangible assets | 59,089 | |||
Investments | ||||
Other credits | 5,026 | |||
Suppliers | (22,048) | |||
Loans and financing | (12,825) | |||
Deferred income tax and social contribution | ||||
Taxes to pay | (1,825) | |||
Provision for contingencies | (2,714) | |||
Sectorial liabilities | ||||
Dividends payable | ||||
Lease | (16,664) | |||
Other obligations | (3,143) | |||
Non-controlling shareholders' equity interest | ||||
Net assets acquired at fair value | 85,188 | |||
Transferred consideration for acquisition of non-controlling interests | ||||
Non-controlling shareholders' equity interest | ||||
Previously held equity interest | ||||
Bargain purchase gain | ||||
Transferred consideration, net of non-controlling interests | 85,188 | |||
Cash received | (1,476) | |||
Cash to be transferred, referring to the acquisition made in installments | ||||
Settled cash referring to installments of previous acquisitions | ||||
Transferred consideration, net of acquired cash and non-controlling interests | 83,712 | |||
PetroChoice acquisition [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Transferred consideration - 1st/single installment | 2,342,820 | |||
Transferred consideration - 2nd installment | ||||
Consideration to be transferred (term) | ||||
Total consideration transferred | 2,342,820 | |||
Recognized amounts of identifiable assets acquired and liabilities assumed | ||||
Cash, cash equivalents and restricted cash | 18,883 | |||
Trade receivables | 305,588 | |||
Inventories | 417,365 | |||
Sectorial assets | ||||
Right-of-use assets | 93,811 | |||
Dividends receivable | ||||
Current assets for sale | ||||
Investment property and property held for sale | ||||
Contract asset | ||||
Tax credits | ||||
Fixed assets | 478,563 | |||
Intangible assets | 1,503,575 | |||
Investments | ||||
Other credits | 46,525 | |||
Suppliers | (187,767) | |||
Loans and financing | ||||
Deferred income tax and social contribution | (96,272) | |||
Taxes to pay | ||||
Provision for contingencies | ||||
Sectorial liabilities | ||||
Dividends payable | ||||
Lease | (144,454) | |||
Other obligations | (92,997) | |||
Non-controlling shareholders' equity interest | ||||
Net assets acquired at fair value | 2,342,820 | |||
Transferred consideration for acquisition of non-controlling interests | ||||
Non-controlling shareholders' equity interest | ||||
Previously held equity interest | ||||
Bargain purchase gain | ||||
Transferred consideration, net of non-controlling interests | 2,342,820 | |||
Cash received | (18,883) | |||
Cash to be transferred, referring to the acquisition made in installments | ||||
Settled cash referring to installments of previous acquisitions | ||||
Transferred consideration, net of acquired cash and non-controlling interests | 2,323,937 | |||
Land acquisition [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Transferred consideration - 1st/single installment | 202,861 | R$ 202861 | ||
Transferred consideration - 2nd installment | ||||
Consideration to be transferred (term) | 804,773 | |||
Total consideration transferred | 1,007,634 | |||
Recognized amounts of identifiable assets acquired and liabilities assumed | ||||
Cash, cash equivalents and restricted cash | 351,688 | |||
Trade receivables | 110,569 | |||
Inventories | ||||
Sectorial assets | ||||
Right-of-use assets | 609 | |||
Dividends receivable | ||||
Current assets for sale | ||||
Investment property and property held for sale | 9,478,011 | |||
Contract asset | ||||
Tax credits | 9,556 | |||
Fixed assets | 12 | |||
Intangible assets | ||||
Investments | ||||
Other credits | 21,578 | |||
Suppliers | (61,942) | |||
Loans and financing | ||||
Deferred income tax and social contribution | (308,971) | |||
Taxes to pay | (28,793) | |||
Provision for contingencies | ||||
Sectorial liabilities | ||||
Dividends payable | (633,967) | |||
Lease | (628) | |||
Other obligations | (14,702) | |||
Non-controlling shareholders' equity interest | (7,138,127) | |||
Net assets acquired at fair value | 1,784,893 | |||
Transferred consideration for acquisition of non-controlling interests | ||||
Non-controlling shareholders' equity interest | ||||
Previously held equity interest | (677,918) | |||
Bargain purchase gain | (99,341) | |||
Transferred consideration, net of non-controlling interests | 1,007,634 | |||
Cash received | (351,688) | |||
Cash to be transferred, referring to the acquisition made in installments | (804,773) | |||
Settled cash referring to installments of previous acquisitions | 322,255 | |||
Transferred consideration, net of acquired cash and non-controlling interests | 173,428 | |||
Business combinations, Consolidation effects [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Transferred consideration - 1st/single installment | ||||
Transferred consideration - 2nd installment | ||||
Consideration to be transferred (term) | ||||
Total consideration transferred | ||||
Recognized amounts of identifiable assets acquired and liabilities assumed | ||||
Cash, cash equivalents and restricted cash | ||||
Trade receivables | ||||
Inventories | ||||
Sectorial assets | ||||
Right-of-use assets | ||||
Dividends receivable | (51,525) | |||
Current assets for sale | ||||
Investment property and property held for sale | ||||
Contract asset | ||||
Tax credits | ||||
Fixed assets | ||||
Intangible assets | (1,230,182) | |||
Investments | (76,729) | |||
Other credits | ||||
Suppliers | ||||
Loans and financing | ||||
Deferred income tax and social contribution | 418,262 | |||
Taxes to pay | ||||
Provision for contingencies | ||||
Sectorial liabilities | ||||
Dividends payable | 51,525 | |||
Lease | ||||
Other obligations | ||||
Non-controlling shareholders' equity interest | ||||
Net assets acquired at fair value | (888,649) | |||
Transferred consideration for acquisition of non-controlling interests | ||||
Non-controlling shareholders' equity interest | 888,649 | |||
Previously held equity interest | ||||
Bargain purchase gain | ||||
Transferred consideration, net of non-controlling interests | ||||
Cash received | ||||
Cash to be transferred, referring to the acquisition made in installments | ||||
Settled cash referring to installments of previous acquisitions | ||||
Transferred consideration, net of acquired cash and non-controlling interests |
INVESTMENTS - Acquisition of _2
INVESTMENTS - Acquisition of subsidiaries - Schedule of revenue and profit of acquisition and estimate of consolidated revenue and profit (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about business combination [line items] | |||
Revenue | R$ 39737368 | R$ 25865001 | R$ 20437835 |
Profit (loss) | 2,820,875 | R$ 6696460 | R$ 1488294 |
Revenue of combined entity as if combination occurred at beginning of period | 41,634,966 | ||
Profit (loss) of combined entity as if combination occurred at beginning of period | 6,536,891 | ||
Business combinations [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Revenue | 1,897,598 | ||
Profit (loss) | 3,716,016 | ||
Commit acquisition [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Revenue | 554,364 | ||
Profit (loss) | 342,967 | ||
TUP acquisition [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Revenue | |||
Profit (loss) | (116) | ||
Tirreno acquisition [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Revenue | 87,467 | ||
Profit (loss) | 2,370 | ||
PetroChoice acquisition [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Revenue | 907,848 | ||
Profit (loss) | (83,569) | ||
Land acquisition [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Revenue | 347,919 | ||
Profit (loss) | R$ 3454364 |
INVESTMENTS - Acquisition of _3
INVESTMENTS - Acquisition of subsidiaries - Schedule of investees and their respective percentages of equity interest (Details 3) | 12 Months Ended | |
Dec. 31, 2022 | ||
Associates [member] | Companhia de Gás de Mato Grosso do Sul - Msgás [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 49% | |
Associates [member] | Companhia Potiguar de Gás - Potigas [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 83% | |
Associates [member] | CEG Rio S.A. [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 37.41% | |
Associates [member] | Gás de Alagoas S.A. (“Algás”) [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 29.44% | |
Associates [member] | Companhia de Gás do Ceará - Cegás [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 29.44% | |
Associates [member] | Companhia Paranaense de Gás - Compagás [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 24.50% | |
Associates [member] | Companhia Pernambucana de Gás - Copergás [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 41.50% | |
Associates [member] | Sergipe Gás S.A. - SERGÁS [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 41.50% | |
Associates [member] | Companhia de Gás de Santa Catarina - Scgás [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 41% | |
Commit acquisition [member] | Subsidiaries [member] | Gas Brasiliano [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Subsidiary | 100% | |
Commit acquisition [member] | Associates [member] | Companhia de Gás de Mato Grosso do Sul - Msgás [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 49% | |
Commit acquisition [member] | Associates [member] | Companhia Potiguar de Gás - Potigas [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 83% | [1] |
Commit acquisition [member] | Associates [member] | Companhia de Gás do Estado do Rio Grande do Sul (“Sulgás”) [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 49% | [2] |
Commit acquisition [member] | Associates [member] | CEG Rio S.A. [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 37.41% | |
Commit acquisition [member] | Associates [member] | Gás de Alagoas S.A. (“Algás”) [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 41.50% | |
Commit acquisition [member] | Associates [member] | Companhia de Gás da Bahia (“Bahiagás”) [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 41.50% | |
Commit acquisition [member] | Associates [member] | Companhia de Gás do Ceará - Cegás [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 41.50% | |
Commit acquisition [member] | Associates [member] | Companhia Paranaense de Gás - Compagás [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 24.50% | |
Commit acquisition [member] | Associates [member] | Companhia Pernambucana de Gás - Copergás [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 41.50% | |
Commit acquisition [member] | Associates [member] | Companhia de Gás do Amapá (“Gasap”) [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 37.25% | |
Commit acquisition [member] | Associates [member] | Companhia de Gás do Piauí (“Gaspisa”) [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 37.25% | |
Commit acquisition [member] | Associates [member] | Companhia Paraibana de Gás (“PBGás”) [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 41.50% | |
Commit acquisition [member] | Associates [member] | Cia Rondoniense de Gás (“Rongás”) [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 41.50% | |
Commit acquisition [member] | Associates [member] | Sergipe Gás S.A. - SERGÁS [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 41.50% | |
Commit acquisition [member] | Associates [member] | Companhia de Gás de Santa Catarina - Scgás [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 41% | |
Commit acquisition [member] | Associates [member] | Companhia Brasiliense de Gás (“CEBGás”) [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 32% | |
Commit acquisition [member] | Associates [member] | Agência Goiana de Gás Canalizado S.A. (“GoiasGás”) [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Equity interest, Associate | 30.46% | |
[1] The interest of 83% refers to the total shares (ordinary and preferred) even though the subsidiary does not control , as the State of Rio Grande do owns 51% of the common shares with voting rights, while Commit holds 49%. The subsidiary Compass Um S.A. owns the remaining 51% of this entity. |
INVESTMENTS - Acquisition of _4
INVESTMENTS - Acquisition of subsidiaries - Schedule of investees and their respective percentages of equity interest (Details 3) (Parenthetical) | 12 Months Ended | ||
Dec. 31, 2022 | Jan. 03, 2022 | ||
Compass Um Participacoes SA [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of voting equity interests acquired (as a percent) | 51% | ||
Companhia Potiguar de Gás - Potigas [member] | Ordinary shares [member] | State of Rio Grande do Norte [Member] | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of voting equity interests acquired (as a percent) | 51% | ||
Companhia de Gás do Estado do Rio Grande do Sul (“Sulgás”) [member] | Compass Um Participacoes SA [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of voting equity interests acquired (as a percent) | 51% | ||
Associates [member] | Companhia Potiguar de Gás - Potigas [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Equity interest, Associate | 83% | ||
Commit acquisition [member] | Associates [member] | Companhia Potiguar de Gás - Potigas [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Equity interest, Associate | [1] | 83% | |
Commit acquisition [member] | Associates [member] | Companhia Potiguar de Gás - Potigas [member] | Ordinary shares [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Equity interest, Associate | 49% | ||
Commit acquisition [member] | Associates [member] | Companhia de Gás do Estado do Rio Grande do Sul (“Sulgás”) [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Equity interest, Associate | [2] | 49% | |
[1] The interest of 83% refers to the total shares (ordinary and preferred) even though the subsidiary does not control , as the State of Rio Grande do owns 51% of the common shares with voting rights, while Commit holds 49%. The subsidiary Compass Um S.A. owns the remaining 51% of this entity. |
INVESTMENTS - Acquisition of _5
INVESTMENTS - Acquisition of subsidiaries - Schedule of bargain purchase gain (Details 4) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2022 | |
Disclosure of detailed information about business combination [line items] | ||||
Transferred consideration | R$ 7284182 | |||
Bargain purchase gain | 99,341 | R$ 416268 | ||
Land acquisition [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Shareholders’ equity | R$ 8923021 | R$ 7542815 | ||
Acquired interest (%) | 12.40% | |||
Acquired interest | R$ 1106975 | |||
Transferred consideration | 1,007,634 | |||
Bargain purchase gain | 99,341 | |||
Income tax and social contribution | (33,776) | |||
Janus [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Shareholders’ equity | R$ 4976443 | |||
Acquired interest (%) | 12.40% | |||
Acquired interest | R$ 617125 | |||
Transferred consideration | 567,901 | |||
Bargain purchase gain | 49,224 | |||
Income tax and social contribution | (16,736) | |||
Tellus Brasil Participacoes S.A. [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Shareholders’ equity | R$ 3229044 | |||
Acquired interest (%) | 12.40% | |||
Acquired interest | R$ 400789 | |||
Transferred consideration | 363,211 | |||
Bargain purchase gain | 37,578 | |||
Income tax and social contribution | (12,777) | |||
Gamiovapar [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Shareholders’ equity | R$ 622306 | |||
Acquired interest (%) | 12.40% | |||
Acquired interest | R$ 77241 | |||
Transferred consideration | 66,500 | |||
Bargain purchase gain | 10,741 | |||
Income tax and social contribution | (3,652) | |||
Duguetiapar [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Shareholders’ equity | R$ 95228 | |||
Acquired interest (%) | 12.40% | |||
Acquired interest | R$ 11820 | |||
Transferred consideration | 10,022 | |||
Bargain purchase gain | 1,798 | |||
Income tax and social contribution | R$ 611 |
INVESTMENTS - Additional inform
INVESTMENTS - Additional information (Details) R$ in Thousands, $ in Thousands, m³ in Millions | 7 Months Ended | 11 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2022 BRL (R$) | Dec. 31, 2022 BRL (R$) | Dec. 31, 2022 BRL (R$) | Dec. 31, 2022 BRL (R$) km ITEM m³ | May 23, 2022 BRL (R$) | May 23, 2022 USD ($) | Feb. 11, 2022 BRL (R$) | Jan. 03, 2022 BRL (R$) | Nov. 03, 2021 | |
Disclosure of investments accounted for using equity method [line items] | |||||||||
Acquisition consideration price | R$ 7284182 | R$ 7284182 | R$ 7284182 | R$ 7284182 | |||||
Number of customers served | ITEM | 79,000 | ||||||||
Intangible assets | 4,508,809 | 4,508,809 | 4,508,809 | R$ 4508809 | |||||
Sulgás acquisition [member] | |||||||||
Disclosure of investments accounted for using equity method [line items] | |||||||||
Acquisition consideration price | 945,979 | 945,979 | 945,979 | 945,979 | |||||
Intangible assets | 2,749,893 | 2,749,893 | 2,749,893 | 2,749,893 | |||||
TUP acquisition [member] | |||||||||
Disclosure of investments accounted for using equity method [line items] | |||||||||
Acquisition consideration price | 804,803 | 804,803 | 804,803 | 804,803 | |||||
Intangible assets | 437,587 | 437,587 | 437,587 | 437,587 | |||||
PetroChoice acquisition [member] | |||||||||
Disclosure of investments accounted for using equity method [line items] | |||||||||
Acquisition consideration price | 2,342,820 | 2,342,820 | 2,342,820 | 2,342,820 | |||||
Intangible assets | 1,503,575 | 1,503,575 | 1,503,575 | R$ 1503575 | |||||
Compass Um Participacoes SA [member] | |||||||||
Disclosure of investments accounted for using equity method [line items] | |||||||||
Percentage of voting equity interests acquired (as a percent) | 51% | ||||||||
Atlântico Participações Ltda. [member] | TUP acquisition [member] | |||||||||
Disclosure of investments accounted for using equity method [line items] | |||||||||
Percentage of voting equity interests acquired (as a percent) | 100% | 49% | |||||||
Income before taxes of acquiree since the acquisition date | (1,440) | ||||||||
Goodwill recognised | R$ 621 | ||||||||
Atlântico Participações Ltda. [member] | TUP acquisition [member] | Licenses and authorizations [member] | |||||||||
Disclosure of investments accounted for using equity method [line items] | |||||||||
Intangible assets | R$ 436594 | ||||||||
Millennium Moove Corp [member] | PetroChoice acquisition [member] | |||||||||
Disclosure of investments accounted for using equity method [line items] | |||||||||
Percentage of voting equity interests acquired (as a percent) | 100% | 100% | |||||||
Revenue of acquiree since the acquisition date | 1,639,657 | ||||||||
Income before taxes of acquiree since the acquisition date | 7,087 | ||||||||
Goodwill recognised | R$ 400196 | $ 83,421 | |||||||
Inventory, fixed assets and intangible assets recognised as of acquisition date | R$ 1942624 | $ 404,941 | |||||||
Compass Gás e Energia [member] | Compass Um Participacoes SA [member] | Sulgás acquisition [member] | |||||||||
Disclosure of investments accounted for using equity method [line items] | |||||||||
Percentage of voting equity interests acquired (as a percent) | 51% | ||||||||
Acquisition consideration price | R$ 945979 | ||||||||
Anticipated dividend recognised as of acquisition date | R$ 9264 | ||||||||
Length of distribution network (in KM) | km | 1,400 | ||||||||
Number of municipalities served | ITEM | 41 | ||||||||
Distributed volume of natural gas per day | m³ | 1.5 | ||||||||
Intangible assets | 2,749,893 | 2,749,893 | 2,749,893 | R$ 2749893 | |||||
Revenue of acquiree since the acquisition date | 1,860,342 | ||||||||
Income before taxes of acquiree since the acquisition date | 152,389 | ||||||||
Compass Gás e Energia [member] | Compass Um Participacoes SA [member] | Sulgás acquisition [member] | Concession rights [member] | |||||||||
Disclosure of investments accounted for using equity method [line items] | |||||||||
Intangible assets | R$ 2582077 | R$ 2582077 | R$ 2582077 | R$ 2582077 | |||||
Concession period of intangible assets | 50 years | ||||||||
Description of contracted period of intangible assets | April 19, 1994 to April 18, 2044 |
INVESTMENTS - Additional info_2
INVESTMENTS - Additional information (Details 1) R$ in Thousands | 2 Months Ended | 12 Months Ended | ||||||
Jul. 12, 2022 Number | Dec. 31, 2022 BRL (R$) | Dec. 31, 2022 BRL (R$) Number | Dec. 31, 2021 | Oct. 20, 2022 BRL (R$) | Sep. 30, 2022 BRL (R$) | Jul. 11, 2022 BRL (R$) | May 31, 2022 | |
Disclosure of investments accounted for using equity method [line items] | ||||||||
Acquisition consideration price | R$ 7284182 | R$ 7284182 | ||||||
Fair value of the assets acquired and liabilities assumed | 7,172,792 | 7,172,792 | ||||||
Transferred consideration - 1st/single installment | 6,053,185 | 6,053,185 | ||||||
Tirreno acquisition [member] | ||||||||
Disclosure of investments accounted for using equity method [line items] | ||||||||
Acquisition consideration price | 85,188 | 85,188 | ||||||
Fair value of the assets acquired and liabilities assumed | 85,188 | 85,188 | ||||||
Transferred consideration - 1st/single installment | 70,188 | 70,188 | ||||||
Commit acquisition [member] | ||||||||
Disclosure of investments accounted for using equity method [line items] | ||||||||
Acquisition consideration price | 2,097,758 | 2,097,758 | ||||||
Fair value of the assets acquired and liabilities assumed | 2,097,758 | 2,097,758 | ||||||
Transferred consideration - 1st/single installment | R$ 2097758 | R$ 2097758 | ||||||
Commit acquisition [member] | Mitsui Gás e Energia do Brasil Ltda. [member] | ||||||||
Disclosure of investments accounted for using equity method [line items] | ||||||||
Non-controlling shareholders’ equity interest | 49% | |||||||
Land acquisition [member] | ||||||||
Disclosure of investments accounted for using equity method [line items] | ||||||||
Percentage of voting equity interests acquired (as a percent) | 12.40% | 12.40% | ||||||
Revenue of acquiree since the acquisition date | R$ 576851 | |||||||
Net income (loss) of acquiree since the acquisition date | 18,462 | |||||||
Acquisition consideration price | 1,007,634 | R$ 1007634 | ||||||
Fair value of the assets acquired and liabilities assumed | R$ 1784893 | R$ 1784893 | ||||||
Acquired interest (%) | 12.40% | 12.40% | ||||||
Percentage of ownership interest, subsidiary | 20% | 7.60% | ||||||
Economic benefit (%) | 20% | |||||||
Number of installments for payment of consideration | Number | 5 | |||||||
Principal amount of installment for consideration transferred | R$ 201526 | R$ 201526 | ||||||
Transferred consideration - 1st/single installment | 202,861 | 202,861 | R$ 202861 | |||||
Adjustment amount of installment by the SELIC for consideration transferred | R$ 1334 | |||||||
Shareholders’ equity | 8,923,021 | R$ 8923021 | R$ 7542815 | |||||
Land acquisition [member] | Direct | ||||||||
Disclosure of investments accounted for using equity method [line items] | ||||||||
Percentage of ownership interest, subsidiary | 19.57% | |||||||
Land acquisition [member] | Indirect | ||||||||
Disclosure of investments accounted for using equity method [line items] | ||||||||
Percentage of ownership interest, subsidiary | 0.43% | |||||||
CLE [member] | Tirreno acquisition [member] | ||||||||
Disclosure of investments accounted for using equity method [line items] | ||||||||
Percentage of voting equity interests acquired (as a percent) | 100% | |||||||
Inventory, fixed assets and intangible assets at fair value | 83,950 | R$ 83950 | ||||||
Goodwill recognised | 1,238 | 1,238 | ||||||
Revenue of acquiree since the acquisition date | 132,623 | |||||||
Net income (loss) of acquiree since the acquisition date | 9,536 | |||||||
Acquired interest (%) | 100% | |||||||
Compass Gas E Energia S A [Member] | Commit acquisition [member] | ||||||||
Disclosure of investments accounted for using equity method [line items] | ||||||||
Percentage of voting equity interests acquired (as a percent) | 51% | |||||||
Revenue of acquiree since the acquisition date | 644,442 | |||||||
Net income (loss) of acquiree since the acquisition date | 219,577 | |||||||
Acquisition consideration price | R$ 2097758 | |||||||
Number of piped natural gas distributors | Number | 18 | |||||||
Fair value of the assets acquired and liabilities assumed | R$ 2627213 | R$ 2627213 | ||||||
Acquired interest (%) | 51% | |||||||
Compass Gas E Energia S A [Member] | Commit acquisition [member] | Companhia de Gás do Estado do Rio Grande do Sul (“Sulgás”) [member] | ||||||||
Disclosure of investments accounted for using equity method [line items] | ||||||||
Percentage of voting equity interests acquired (as a percent) | 49% | |||||||
Acquisition consideration price | R$ 468070 | |||||||
Acquired interest (%) | 49% |
INVESTMENT IN JOINT VENTURE - S
INVESTMENT IN JOINT VENTURE - Summary of Changes to Investments in Joint Ventures (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||||
Disclosure of joint ventures [line items] | ||||||
Beginning balance | R$ 10936663 | |||||
Equity income | (92,179) | R$ 4590631 | R$ 583001 | |||
Ending balance | 11,221,356 | R$ 10936663 | ||||
Reorganization [Member] | ||||||
Disclosure of joint ventures [line items] | ||||||
Shares issued by the joint venture | 1,447,807,814 | |||||
Investor's shares | 105,246,282 | |||||
Ownership percentage (directly and indirectly) | 6% | |||||
Beginning balance | 7,241,794 | |||||
Equity income | [1] | 4,215,116 | ||||
Other comprehensive (losses) income | (73,416) | |||||
Interest on equity | (122,480) | |||||
Corporate reorganization | 3,204,832 | |||||
Dividends | 17,742 | |||||
Ending balance | R$ 7241794 | |||||
Raizen Combustiveis S A [member] | Before Reorganization [Member] | ||||||
Disclosure of joint ventures [line items] | ||||||
Shares issued by the joint venture | 1,661,418,472 | |||||
Investor's shares | 830,709,236 | |||||
Ownership percentage (directly and indirectly) | 50% | |||||
Beginning balance | 3,694,869 | R$ 3847506 | ||||
Equity income | [1] | 448,124 | ||||
Other comprehensive (losses) income | 215,787 | |||||
Interest on equity | (100,318) | |||||
Corporate reorganization | ||||||
Dividends | (716,230) | |||||
Ending balance | R$ 3694869 | 3,847,506 | ||||
Raizen Energia S A [member] | Before Reorganization [Member] | ||||||
Disclosure of joint ventures [line items] | ||||||
Shares issued by the joint venture | 7,243,283,198 | |||||
Investor's shares | 3,621,641,599 | |||||
Ownership percentage (directly and indirectly) | 50% | |||||
Beginning balance | R$ 4140702 | |||||
Equity income | [1] | (72,609) | ||||
Other comprehensive (losses) income | (491,548) | |||||
Interest on equity | ||||||
Corporate reorganization | (3,204,832) | |||||
Dividends | (371,713) | |||||
Ending balance | 4,140,702 | |||||
Raizen S A [Member] | ||||||
Disclosure of joint ventures [line items] | ||||||
Shares issued by the joint venture | 10,352,509,484 | 10,352,509,484 | ||||
Investor's shares | 4,557,597,117 | 4,557,597,117 | ||||
Ownership percentage (directly and indirectly) | 33.63% | 44.02% | ||||
Beginning balance | R$ 10936663 | R$ 7988208 | ||||
Equity income | (92,179) | 4,590,631 | [1] | |||
Asset valuation adjustment | 1,053,226 | |||||
Other comprehensive (losses) income | (349,177) | |||||
Interest on equity | (222,798) | |||||
Corporate reorganization | ||||||
Dividends | (676,354) | [2] | (1,070,201) | |||
Ending balance | R$ 11221356 | R$ 10936663 | R$ 7988208 | |||
[1] As disclosed in Note 1.2 two Cosan . Amount proposed and allocated within this period. During the year ended December 31, 2022, previously allocated dividends and interest on equity were paid, totaling R$517,233 and R$657,538 were constituted and paid within the year, totaling R$1,174,771. |
INVESTMENT IN JOINT VENTURE -_2
INVESTMENT IN JOINT VENTURE - Summary of gains and losses recognized to Investments in Joint Ventures (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of joint ventures [line items] | ||||
Profit for the year under the equity method | R$ 2820875 | R$ 6696460 | R$ 1488294 | |
Interest in earnings | (92,179) | R$ 4590631 | R$ 583001 | |
Raízen | ||||
Disclosure of joint ventures [line items] | ||||
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 | [1] | (82,243) | ||
Gain on dilution | 2,994,159 | |||
Profit for the year under the equity method | 1,596,472 | |||
Interest in earnings | R$ 4590631 | |||
[1] Proposed amount in the period, of which R$ 819,729 were paid. |
INVESTMENT IN JOINT VENTURE - A
INVESTMENT IN JOINT VENTURE - Additional Information (Detail) R$ in Thousands, $ in Thousands | 12 Months Ended | ||||
May 01, 2022 BRL (R$) | Dec. 31, 2022 BRL (R$) | Dec. 31, 2021 BRL (R$) | Dec. 31, 2020 BRL (R$) | Dec. 31, 2022 USD ($) | |
Disclosure of joint ventures [line items] | |||||
Dividends received from joint ventures, classified as investing activities | R$ 1174771 | R$ 819729 | R$ 1852 | ||
Gain on advantageous purchase | 99,341 | 416,268 | |||
Previously allocated dividends from Joint Ventures | 517,233 | ||||
Previously allocated interest on equity from Joint Ventures | 657,538 | ||||
Interest in earnings of joint venture | (92,179) | 4,590,631 | R$ 583001 | ||
Neolubes [Member] | |||||
Disclosure of joint ventures [line items] | |||||
Gain on advantageous purchase | R$ 263051 | ||||
Interest in earnings of joint venture | R$ 116190 | ||||
Raizen [Member] | |||||
Disclosure of joint ventures [line items] | |||||
Net amount | 6,599,987 | ||||
Credit facility unused | $ | $ 350,000 | ||||
Interest in earnings of joint venture | R$ 4590631 | ||||
Biosev [Member] | |||||
Disclosure of joint ventures [line items] | |||||
Subscription bonus net of market value adjustment | R$ 2347281 |
PROPERTY, PLANT AND EQUIPMENT_3
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Jun. 16, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | R$ 20661870 | R$ 16648681 | |
Description of agreement related to 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 | ||
Internally generated [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill | R$ 109265 | 83,046 | |
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$ 86614 | R$ 70609 | |
Weighted average interest rate used to capitalize borrowing costs | 13.25% | 11.81% | |
Additions | R$ 184100 | ||
Compass Gás e Energia [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Capitalized borrowing costs | R$ 62365 | R$ 7512 | |
Weighted average interest rate used to capitalize borrowing costs | 6.27% | 2.78% | |
Compass Gás e Energia [member] | Contract assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Capitalized borrowing costs | R$ 70884 | R$ 33829 | |
Weighted average interest rate used to capitalize borrowing costs | 12.06% | 8.45% | |
Comgas [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Estimated investments to be made for sub-concession contracts | R$ 2000000 | ||
Obligations of estimated investments for sub-concession contracts | R$ 3000000 | ||
Term of cycle to define efficient business plan | 5 years | ||
Sulgás [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Capitalized borrowing costs | R$ 217 | ||
Weighted average interest rate used to capitalize borrowing costs | 4.10% | ||
Bottom of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Discount rate applied to future cash flows | 10.10% | 8.30% | |
Top of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Discount rate applied to future cash flows | 24.80% | 12.20% |
PROPERTY, PLANT AND EQUIPMENT_4
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES - Summary of Depreciation on Straight-line Basis Over the Estimated Useful life of Assets (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
IT equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 20% |
Bottom of range [member] | Buildings and improvements [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 4% |
Bottom of range [member] | Machines, equipment and installations [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 8% |
Bottom of range [member] | Furniture and utensils [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 10% |
Bottom of range [member] | Wagons [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 2.90% |
Bottom of range [member] | Locomotives [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 3.30% |
Bottom of range [member] | Permanent railways [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 3% |
Bottom of range [member] | Others assets [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 10% |
Top of range [member] | Buildings and improvements [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 5% |
Top of range [member] | Machines, equipment and installations [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 11% |
Top of range [member] | Furniture and utensils [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 15% |
Top of range [member] | Wagons [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 6% |
Top of range [member] | Locomotives [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 8% |
Top of range [member] | Permanent railways [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 4% |
Top of range [member] | Others assets [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Percentage of depreciation | 20% |
PROPERTY, PLANT AND EQUIPMENT_5
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES - Schedule of Property Plant and Equipment (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | R$ 16648553 | |
Ending balance | 18,948,436 | R$ 16648553 |
Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 24,156,064 | 20,438,299 |
Additions | 3,417,300 | 3,871,139 |
Business Combination (note 8.3) | 834,888 | 41 |
Write-offs | (141,404) | (247,035) |
Transfers | (97,821) | 76,461 |
Exchange differences | 309,603 | 17,159 |
Write-off due to sale of investment | (953,553) | |
Ending balance | 27,525,077 | 24,156,064 |
Depreciation and Amortization [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (7,507,511) | (6,369,793) |
Additions | (1,565,295) | (1,407,784) |
Write-offs | 112,800 | 234,219 |
Transfers | 34,153 | 44,772 |
Exchange differences | (270,402) | (8,925) |
Write-off due to sale of investment | 619,614 | |
Ending balance | (8,576,641) | (7,507,511) |
Land, buildings and improvements [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,382,547 | |
Ending balance | 1,613,355 | 1,382,547 |
Land, buildings and improvements [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 2,001,165 | 1,577,244 |
Additions | 5,442 | 1,481 |
Business Combination (note 8.3) | 310,730 | |
Write-offs | (3,368) | (81) |
Transfers | 182,504 | 416,859 |
Exchange differences | 35,544 | 5,662 |
Write-off due to sale of investment | (396,614) | |
Ending balance | 2,135,403 | 2,001,165 |
Land, buildings and improvements [member] | Depreciation and Amortization [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (618,618) | (507,373) |
Additions | (73,712) | (91,631) |
Write-offs | 3,922 | |
Transfers | (16,135) | (20,891) |
Exchange differences | (22,244) | (2,645) |
Write-off due to sale of investment | 208,661 | |
Ending balance | (522,048) | (618,618) |
Machines, equipment and installations [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,092,072 | |
Ending balance | 1,193,561 | 1,092,072 |
Machines, equipment and installations [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,974,614 | 1,457,234 |
Additions | 12,208 | 7,678 |
Business Combination (note 8.3) | 227,257 | |
Write-offs | (15,368) | (36,189) |
Transfers | 141,379 | 538,179 |
Exchange differences | 131,160 | 7,712 |
Write-off due to sale of investment | (528,452) | |
Ending balance | 1,942,798 | 1,974,614 |
Machines, equipment and installations [member] | Depreciation and Amortization [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (882,542) | (732,412) |
Additions | (187,599) | (202,154) |
Write-offs | 8,170 | 35,165 |
Transfers | 26,732 | 21,190 |
Exchange differences | (120,943) | (4,331) |
Write-off due to sale of investment | 406,945 | |
Ending balance | (749,237) | (882,542) |
Wagons and locomotives [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 4,896,839 | |
Ending balance | 4,637,017 | 4,896,839 |
Wagons and locomotives [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 7,738,889 | 6,720,465 |
Additions | 772 | 1,681 |
Business Combination (note 8.3) | ||
Write-offs | (61,536) | (123,980) |
Transfers | 316,211 | 1,140,723 |
Exchange differences | ||
Write-off due to sale of investment | ||
Ending balance | 7,994,336 | 7,738,889 |
Wagons and locomotives [member] | Depreciation and Amortization [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (2,842,050) | (2,481,138) |
Additions | (566,999) | (532,558) |
Write-offs | 51,591 | 112,362 |
Transfers | 139 | 59,284 |
Exchange differences | ||
Write-off due to sale of investment | ||
Ending balance | (3,357,319) | (2,842,050) |
Permanent railways [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 5,639,360 | |
Ending balance | 6,653,877 | 5,639,360 |
Permanent railways [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 8,755,001 | 7,371,126 |
Additions | 11,120 | 6,501 |
Business Combination (note 8.3) | ||
Write-offs | (52) | (758) |
Transfers | 1,650,431 | 1,378,132 |
Exchange differences | ||
Write-off due to sale of investment | ||
Ending balance | 10,416,500 | 8,755,001 |
Permanent railways [member] | Depreciation and Amortization [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (3,115,641) | (2,550,299) |
Additions | (670,921) | (550,969) |
Write-offs | 8 | 196 |
Transfers | 23,931 | (14,569) |
Exchange differences | ||
Write-off due to sale of investment | ||
Ending balance | (3,762,623) | (3,115,641) |
Construction in progress [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 3,231,274 | |
Ending balance | 4,301,708 | 3,231,274 |
Construction in progress [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 3,244,653 | 2,804,174 |
Additions | 3,387,758 | 3,852,472 |
Business Combination (note 8.3) | 133,474 | |
Write-offs | (9,024) | |
Transfers | (2,419,014) | (3,412,132) |
Exchange differences | 684 | 139 |
Write-off due to sale of investment | (23,444) | |
Ending balance | 4,315,087 | 3,244,653 |
Construction in progress [member] | Depreciation and Amortization [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (13,379) | (13,379) |
Additions | ||
Write-offs | ||
Transfers | ||
Exchange differences | ||
Write-off due to sale of investment | ||
Ending balance | (13,379) | (13,379) |
Others assets [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 406,461 | |
Ending balance | 548,918 | 406,461 |
Others assets [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 441,742 | 508,056 |
Additions | 1,326 | |
Business Combination (note 8.3) | 163,427 | 41 |
Write-offs | (52,056) | (86,027) |
Transfers | 30,668 | 14,700 |
Exchange differences | 142,215 | 3,646 |
Write-off due to sale of investment | (5,043) | |
Ending balance | 720,953 | 441,742 |
Others assets [member] | Depreciation and Amortization [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (35,281) | (85,192) |
Additions | (66,064) | (30,472) |
Write-offs | 53,031 | 82,574 |
Transfers | (514) | (242) |
Exchange differences | (127,215) | (1,949) |
Write-off due to sale of investment | 4,008 | |
Ending balance | R$ 172035 | R$ 35281 |
PROPERTY, PLANT AND EQUIPMENT_6
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES - Schedule of Property Plant and Equipment (Detail) (Parenthetical) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
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 AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES - Summary of Intangible Assets and Goodwill (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | R$ 17781498 | ||
Ending balance | 22,121,942 | R$ 17781498 | |
Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 23,308,283 | 22,046,411 | |
Additions | 142,755 | 219,050 | |
Business combination | 4,508,809 | ||
Write-offs | (57,163) | (173,229) | |
Transfers | 897,166 | [1] | 1,165,352 |
Exchange differences | 23,266 | 50,699 | |
Write-off due to sale of investment | (411,642) | ||
Ending balance | 28,411,474 | 23,308,283 | |
Depreciation and Amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (5,526,785) | (4,737,972) | |
Additions | (983,154) | (755,633) | |
Write-offs | 25,504 | 156,178 | |
Transfers | (60) | [1] | (179,007) |
Exchange differences | 19,347 | (10,351) | |
Write-off due to sale of investment | 175,616 | ||
Ending balance | (6,289,532) | (5,526,785) | |
Goodwill [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 1,132,817 | ||
Ending balance | 1,460,072 | 1,132,817 | |
Goodwill [member] | Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 1,132,817 | 1,088,720 | |
Additions | 10,031 | 24,696 | |
Business combination | 402,055 | ||
Write-offs | (224) | ||
Transfers | [1] | ||
Exchange differences | (21,909) | 19,625 | |
Write-off due to sale of investment | (62,922) | ||
Ending balance | 1,460,072 | 1,132,817 | |
Goodwill [member] | Depreciation and Amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | |||
Additions | |||
Write-offs | |||
Transfers | [1] | ||
Exchange differences | |||
Write-off due to sale of investment | |||
Ending balance | |||
Concession rights [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 15,706,265 | ||
Ending balance | 18,246,781 | 15,706,265 | |
Concession rights [member] | Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 19,616,524 | 18,676,443 | |
Additions | 765 | ||
Business combination | 2,508,558 | ||
Write-offs | (57,723) | (169,815) | |
Transfers | 837,788 | [1] | 1,109,131 |
Exchange differences | |||
Write-off due to sale of investment | (5,403) | ||
Ending balance | 22,899,744 | 19,616,524 | |
Concession rights [member] | Depreciation and Amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (3,910,259) | (3,357,779) | |
Additions | (773,765) | (588,411) | |
Write-offs | 25,658 | 152,236 | |
Transfers | [1] | (116,305) | |
Exchange differences | |||
Write-off due to sale of investment | 5,403 | ||
Ending balance | (4,652,963) | (3,910,259) | |
Licenses [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 211,895 | ||
Ending balance | 480,899 | 211,895 | |
Licenses [member] | Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 379,182 | 435,795 | |
Additions | 2,605 | 35,834 | |
Business combination | 436,594 | ||
Write-offs | |||
Transfers | (1,911) | [1] | (92,447) |
Exchange differences | 771 | ||
Write-off due to sale of investment | (317,148) | ||
Ending balance | 500,093 | 379,182 | |
Licenses [member] | Depreciation and Amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (167,287) | (247,896) | |
Additions | (8,879) | (11,838) | |
Write-offs | |||
Transfers | [1] | 92,447 | |
Exchange differences | (771) | ||
Write-off due to sale of investment | 157,743 | ||
Ending balance | (19,194) | (167,287) | |
Brands and patents [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 57,439 | ||
Ending balance | 154,722 | 57,439 | |
Brands and patents [member] | Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 66,640 | 54,207 | |
Additions | |||
Business combination | 98,382 | ||
Write-offs | |||
Transfers | [1] | 9,201 | |
Exchange differences | (1,099) | 3,232 | |
Write-off due to sale of investment | |||
Ending balance | 163,923 | 66,640 | |
Brands and patents [member] | Depreciation and Amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (9,201) | ||
Additions | |||
Write-offs | |||
Transfers | [1] | (9,201) | |
Exchange differences | |||
Write-off due to sale of investment | |||
Ending balance | (9,201) | (9,201) | |
Customer Relationships [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 575,459 | ||
Ending balance | 1,657,490 | 575,459 | |
Customer Relationships [member] | Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 1,604,067 | 1,424,947 | |
Additions | 113,497 | 155,469 | |
Business combination | 1,062,832 | ||
Write-offs | (19) | (44) | |
Transfers | (6) | [1] | (786) |
Exchange differences | 47,613 | 24,481 | |
Write-off due to sale of investment | |||
Ending balance | 2,827,984 | 1,604,067 | |
Customer Relationships [member] | Depreciation and Amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (1,028,608) | (905,032) | |
Additions | (164,843) | (116,860) | |
Write-offs | 1 | 114 | |
Transfers | [1] | 533 | |
Exchange differences | 22,956 | (7,363) | |
Write-off due to sale of investment | |||
Ending balance | (1,170,494) | (1,028,608) | |
Others [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 97,623 | ||
Ending balance | 121,978 | 97,623 | |
Others [member] | Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 509,053 | 366,299 | |
Additions | 16,622 | 2,286 | |
Business combination | 388 | ||
Write-offs | (579) | (3,146) | |
Transfers | 61,295 | [1] | 140,253 |
Exchange differences | (2,110) | 3,361 | |
Write-off due to sale of investment | (26,169) | ||
Ending balance | 559,658 | 509,053 | |
Others [member] | Depreciation and Amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (411,430) | (227,265) | |
Additions | (35,667) | (38,524) | |
Write-offs | 155 | 3,828 | |
Transfers | (60) | [1] | (146,481) |
Exchange differences | (2,838) | (2,988) | |
Write-off due to sale of investment | 12,470 | ||
Ending balance | R$ 437680 | R$ 411430 | |
[1] The total of transfers also includes R$ 35,057 |
PROPERTY, PLANT AND EQUIPMENT_8
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES - Summary of Intangible Assets and Goodwill (Detail) (Parenthetical) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
Intangible assets reclassified to financial assets | R$ 35057 |
PROPERTY, PLANT AND EQUIPMENT_9
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES - Summary of Intangible Assets (Excluding Goodwill) (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | R$ 20661870 | R$ 16648681 |
Concession rights [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | 18,246,781 | 15,706,265 |
Concession rights [member] | Companhia de Gas de Sao Paulo - COMGAS [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | R$ 11614163 | 8,953,495 |
Concession rights [member] | Rumo Malha Norte SA [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual rate of amortization | 1.59% | |
Intangible assets other than goodwill | R$ 6632618 | 6,752,770 |
Port operation license [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual rate of amortization | 3.70% | |
Intangible assets other than goodwill | R$ 44305 | 211,895 |
Licenses and authorizations [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | 436,594 | |
Licenses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | 480,899 | 211,895 |
Brands and patents [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | 154,722 | 57,439 |
Brands and patents [member] | Comma [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | 47,929 | 57,439 |
Brands and patents [member] | PetroChoice [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | 104,354 | |
Brands and patents [member] | Tirreno [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | 2,439 | |
Customer Relationships [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | R$ 1657490 | 575,459 |
Customer Relationships [member] | Companhia de Gas de Sao Paulo - COMGAS [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual rate of amortization | 20% | |
Intangible assets other than goodwill | R$ 285423 | 276,811 |
Customer Relationships [member] | Moove cash generating unit [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | R$ 1367493 | 297,286 |
Customer Relationships [member] | Moove cash generating unit [member] | Bottom of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual rate of amortization | 5% | |
Customer Relationships [member] | Moove cash generating unit [member] | Top of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual rate of amortization | 30% | |
Customer Relationships [member] | Other | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual rate of amortization | 20% | |
Intangible assets other than goodwill | R$ 4574 | 1,362 |
Other [member] | Other | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual rate of amortization | 20% | |
Intangible assets other than goodwill | R$ 56870 | 50,853 |
Computer software [member] | Other | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual rate of amortization | 20% | |
Intangible assets other than goodwill | R$ 65108 | 46,770 |
Others [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill | R$ 121978 | R$ 97623 |
PROPERTY, PLANT AND EQUIPMEN_10
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES - Summary of Combined carrying amounts of goodwill allocated to each cash-generating unit (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of information for cash-generating units [line items] | ||
Growth rates (as a percent) | 2.70% | 3% |
Assumptions | ||
Risk-free fee (T-Note 10y) (as a percent) | 3.50% | |
Market risk premium (as a percent) | 5.11% | |
BR | ||
Assumptions | ||
Inflation (as a percent) | 3.87% | |
Country risk premium (as a percent) | 5.19% | |
Tax rate (as a percent) | 34% | |
US | ||
Assumptions | ||
Inflation (as a percent) | 2.30% | |
UK | ||
Assumptions | ||
Inflation (as a percent) | 2.56% | |
Country risk premium (as a percent) | 1.03% | |
Tax rate (as a percent) | 19% | |
ARG | ||
Assumptions | ||
Country risk premium (as a percent) | 20.71% | |
Tax rate (as a percent) | 30% | |
Bottom of range [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Discount rates (as a percent) | 10.10% | 8.30% |
Top of range [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Discount rates (as a percent) | 24.80% | 12.20% |
Brands and patents [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | R$ 154722 | R$ 57439 |
Licenses and authorizations [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | 436,594 | |
Cash-generating units [member] | Goodwill [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | 1,460,072 | 1,132,817 |
Cash generating unit – Moove | Goodwill [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | 1,296,266 | 916,742 |
Cash generating unit – Moove | Brands and patents [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | 154,722 | 57,439 |
Cash generating unit – Moove | Licenses and authorizations [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | ||
Cash generating unit – Compass | Goodwill [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | 100,192 | 94,891 |
Cash generating unit – Compass | Brands and patents [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | ||
Cash generating unit – Compass | Licenses and authorizations [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | ||
Cash generating unit – Rumo | Goodwill [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | 37,529 | 100,451 |
Cash generating unit – Rumo | Brands and patents [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | ||
Cash generating unit – Rumo | Licenses and authorizations [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | ||
Cash generating unit – Cosan investimentos | Goodwill [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | 26,085 | 20,733 |
Cash generating unit – Cosan investimentos | Brands and patents [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | ||
Cash generating unit – Cosan investimentos | Licenses and authorizations [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount of goodwill and intangible assets | R$ 436594 |
PROPERTY, PLANT AND EQUIPMEN_11
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES - Summary of transaction charts of contract asset (Detail) - BRL (R$) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of property plant and equipment intangible assets goodwill right of use assets and contract assets [line items] | ||
Beginning of period | R$ 705982000 | R$ 695938000 |
Additions | 1,228,641,000 | 1,057,379,000 |
Business combination | 87,735,000 | |
Write-offs | (25,156,000) | (25,439,000) |
Transfer to intangible assets | (878,487,000) | (1,021,896,000) |
End of period | 1,118,715,000 | 705,982,000 |
Companhia de Gas de Sao Paulo - COMGAS [member] | ||
Disclosure of property plant and equipment intangible assets goodwill right of use assets and contract assets [line items] | ||
Beginning of period | 684,970,000 | 686,690,000 |
Additions | 1,217,818,000 | 1,020,176,000 |
Business combination | 87,735,000 | |
Write-offs | ||
Transfer to intangible assets | (880,188,000) | (1,021,896,000) |
End of period | 1,110,335,000 | 684,970,000 |
Moove [member] | ||
Disclosure of property plant and equipment intangible assets goodwill right of use assets and contract assets [line items] | ||
Beginning of period | 21,012 | 9,248,000 |
Additions | 10,823,000 | 37,203,000 |
Business combination | ||
Write-offs | (25,156,000) | (25,439,000) |
Transfer to intangible assets | 1,701,000 | |
End of period | R$ 8380000 | R$ 21012.000 |
PROPERTY, PLANT AND EQUIPMEN_12
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES - Summary of transaction charts of right of use assets (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | R$ 7947267 | ||
Ending Balance | 8,012,869 | R$ 7947267 | |
Amortization additions | R$ 100593 | ||
Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 9,252,382 | 8,911,937 | |
Business Combination (note 8.3) | 119,655 | 3,240 | |
Additions | 282,140 | 150,963 | |
Contractual adjustments | 221,655 | 430,701 | |
Write-offs | (131,310) | (14,957) | |
Transfers | (233,507) | ||
Exchange differences | 2,595 | 4,005 | |
Ending Balance | 9,747,117 | 9,252,382 | 8,911,937 |
Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (1,305,115) | (995,707) | |
Additions | (460,415) | (414,253) | |
Write-offs | 28,287 | 6,109 | |
Transfers | 100,472 | ||
Exchange differences | 2,995 | (1,736) | |
Ending Balance | (1,734,248) | (1,305,115) | (995,707) |
Land, buildings and improvements [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 186,964 | ||
Ending Balance | 328,221 | 186,964 | |
Land, buildings and improvements [member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 254,883 | 380,828 | |
Business Combination (note 8.3) | 116,919 | 3,240 | |
Additions | 91,799 | 73,039 | |
Contractual adjustments | 9,008 | 41,663 | |
Write-offs | (24,005) | (12,121) | |
Transfers | (233,296) | ||
Exchange differences | 5,114 | 1,530 | |
Ending Balance | 453,718 | 254,883 | 380,828 |
Land, buildings and improvements [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (67,919) | (115,830) | |
Additions | (65,254) | (30,838) | |
Write-offs | 6,099 | 3,880 | |
Transfers | 75,134 | ||
Exchange differences | 1,577 | (265) | |
Ending Balance | (125,497) | (67,919) | (115,830) |
Machines, equipment and installations [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 113,191 | ||
Ending Balance | 159,819 | 113,191 | |
Machines, equipment and installations [member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 142,449 | 39,122 | |
Business Combination (note 8.3) | 2,693 | ||
Additions | 73,317 | 47,554 | |
Contractual adjustments | 52,972 | 48,784 | |
Write-offs | (724) | (2,836) | |
Transfers | 7,264 | ||
Exchange differences | (2,237) | 2,561 | |
Ending Balance | 268,470 | 142,449 | 39,122 |
Machines, equipment and installations [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (29,258) | (12,095) | |
Additions | (81,349) | (16,339) | |
Write-offs | 710 | 2,229 | |
Transfers | (1,547) | ||
Exchange differences | 1,246 | (1,506) | |
Ending Balance | (108,651) | (29,258) | (12,095) |
Wagons and locomotives [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 539,392 | ||
Ending Balance | 508,888 | 539,392 | |
Wagons and locomotives [member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 938,610 | 933,325 | |
Business Combination (note 8.3) | |||
Additions | 1,006 | 43 | |
Contractual adjustments | 3,480 | 5,242 | |
Write-offs | |||
Transfers | |||
Exchange differences | |||
Ending Balance | 943,096 | 938,610 | 933,325 |
Wagons and locomotives [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (399,218) | (360,740) | |
Additions | (34,990) | (38,478) | |
Write-offs | |||
Transfers | |||
Exchange differences | |||
Ending Balance | (434,208) | (399,218) | (360,740) |
Software [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 70,069 | ||
Ending Balance | 64,975 | 70,069 | |
Software [Member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 87,028 | 82,369 | |
Business Combination (note 8.3) | |||
Additions | |||
Contractual adjustments | (1,079) | 4,659 | |
Write-offs | |||
Transfers | |||
Exchange differences | |||
Ending Balance | 85,949 | 87,028 | 82,369 |
Software [Member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (16,959) | (12,534) | |
Additions | (4,015) | (4,425) | |
Write-offs | |||
Transfers | |||
Exchange differences | |||
Ending Balance | (20,974) | (16,959) | (12,534) |
Vehicles [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 13,974 | ||
Ending Balance | 13,020 | 13,974 | |
Vehicles [member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 29,099 | 13,925 | |
Business Combination (note 8.3) | 43 | ||
Additions | 4,561 | 15,219 | |
Contractual adjustments | 1,540 | 41 | |
Write-offs | (218) | ||
Transfers | |||
Exchange differences | (282) | (86) | |
Ending Balance | 34,743 | 29,099 | 13,925 |
Vehicles [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (15,125) | (13,029) | |
Additions | (7,713) | (2,131) | |
Write-offs | 943 | ||
Transfers | |||
Exchange differences | 172 | 35 | |
Ending Balance | (21,723) | (15,125) | (13,029) |
Railway and port infrastructure [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 7,023,677 | ||
Ending Balance | 6,937,946 | 7,023,677 | |
Railway and port infrastructure [Member] | Gross carrying amount [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 7,800,313 | 7,462,368 | |
Business Combination (note 8.3) | |||
Additions | 111,457 | 15,108 | |
Contractual adjustments | 155,734 | 330,312 | |
Write-offs | (106,363) | ||
Transfers | (7,475) | ||
Exchange differences | |||
Ending Balance | 7,961,141 | 7,800,313 | 7,462,368 |
Railway and port infrastructure [Member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (776,636) | (481,479) | |
Additions | (267,094) | (322,042) | |
Write-offs | 20,535 | ||
Transfers | 26,885 | ||
Exchange differences | |||
Ending Balance | R$ 1023195 | R$ 776636 | R$ 481479 |
PROPERTY, PLANT AND EQUIPMEN_13
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES - Schedule of Balances of Investment Properties (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES | |||
Investment Properties including properties held for sale at beginning of period | R$ 3886696 | ||
Change in fair value of investment properties | 1,311,691 | 17,116 | |
Business combination | 9,478,011 | 3,875,752 | |
Additions | 17,477 | ||
Transfers | |||
Sale of agricultural properties intended for sale | (550,432) | ||
Others | (6,172) | ||
Investment Properties including properties held for sale at end of period | 14,143,443 | 3,886,696 | |
Current | 40,383 | ||
Non-current | 14,103,060 | ||
Investment Properties including properties held for sale | 14,143,443 | 3,886,696 | |
Investment properties [member] | |||
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES | |||
Investment Properties including properties held for sale at beginning of period | 3,886,696 | ||
Change in fair value of investment properties | 1,311,691 | 17,116 | |
Business combination | 9,209,626 | 3,875,752 | |
Additions | 17,477 | ||
Transfers | (322,430) | ||
Sale of agricultural properties intended for sale | |||
Others | (6,172) | ||
Investment Properties including properties held for sale at end of period | 14,103,060 | 3,886,696 | |
Current | |||
Non-current | 14,103,060 | ||
Investment Properties including properties held for sale | 14,103,060 | 3,886,696 | |
Properties held for sale [member] | |||
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL, CONTRACT ASSETS, RIGHT-OF-USE AND INVESTMENT PROPERTIES | |||
Investment Properties including properties held for sale at beginning of period | |||
Change in fair value of investment properties | |||
Business combination | 268,385 | ||
Additions | |||
Transfers | 322,430 | ||
Sale of agricultural properties intended for sale | (550,432) | ||
Others | |||
Investment Properties including properties held for sale at end of period | 40,383 | ||
Current | 40,383 | ||
Non-current | |||
Investment Properties including properties held for sale | R$ 40383 |
COMMITMENTS (Detail)
COMMITMENTS (Detail) R$ in Thousands, MMBTU in Millions | 12 Months Ended | |||
Dec. 31, 2022 BRL (R$) MMBTU | Dec. 31, 2021 | Dec. 31, 2020 | May 27, 2020 BRL (R$) | |
Natural gas distribution [member] | ||||
Disclosure of detailed information about commitments [line items] | ||||
Financial commitment in an estimated present value | R$ 12964677 | |||
Comgas [member] | ||||
Disclosure of detailed information about commitments [line items] | ||||
Estimated investments to be made for sub-concession contracts | 2,000,000 | |||
Obligations of estimated investments for sub-concession contracts | 3,000,000 | |||
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% | |||
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 | 76% | 65% | 56% | |
Malha Central S.A. [member] | Bottom of range [member] | ||||
Disclosure of detailed information about commitments [line items] | ||||
Contractual fixed term | 1 year | |||
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 o
CONCESSIONS PAYABLE - Summary of Concessions Payable (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | R$ 3351410 | R$ 3054248 |
Current | 256,759 | 160,771 |
Non-current | 3,094,651 | 2,893,477 |
Disputed lease and concession [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 1,994,991 | 1,802,403 |
Disputed lease and concession [member] | Rumo Malha Paulista S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 37,842 | 55,170 |
Disputed lease and concession [member] | Rumo Malha Oeste S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 1,957,149 | 1,747,233 |
Lease Installment [Member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 1,138,076 | 1,145,450 |
Lease Installment [Member] | Rumo Malha Paulista S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 1,138,076 | 1,145,450 |
Concessions and Grants [Member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 218,343 | 106,395 |
Concessions and Grants [Member] | Rumo Malha Paulista S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 118,655 | 20,682 |
Concessions and Grants [Member] | Rumo Malha Sul S.A. [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | 81,112 | 85,713 |
Concessions and Grants [Member] | Rumo Malha Central S A [member] | ||
Disclosure of Concessions Payable And Judicial Deposits [line items] | ||
Concessions payable | R$ 18576 |
CONCESSIONS PAYABLE - Summary_2
CONCESSIONS PAYABLE - Summary of leases and grants related to concession payable (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Leases and grants under IFRS 16 | ||
Leases | R$ 1279878 | R$ 1458392 |
Grants | 1,525,101 | 1,205,004 |
Leases and grants related to concession payable | 2,804,979 | 2,663,396 |
Current leases and grants related to concession payable | 350,719 | 274,774 |
Non-current leases and grants related to concession payable | 2,454,260 | 2,388,622 |
Leases and grants related to concession payable | 2,804,979 | 2,663,396 |
Rumo Malha Sul S.A. [member] | ||
Leases and grants under IFRS 16 | ||
Leases | 542,996 | 623,155 |
Rumo Malha Paulista S.A. [member] | ||
Leases and grants under IFRS 16 | ||
Leases | 539,900 | 508,169 |
Grants | 732,727 | 590,594 |
Rumo Malha Oeste S.A. [member] | ||
Leases and grants under IFRS 16 | ||
Leases | 185,324 | 216,101 |
Elevacoes Portuarias [member] | ||
Leases and grants under IFRS 16 | ||
Leases | 97,046 | |
Portofer Transporte Ferroviário Ltda. [member] | ||
Leases and grants under IFRS 16 | ||
Leases | 11,658 | 13,921 |
Malha Central S.A. [member] | ||
Leases and grants under IFRS 16 | ||
Grants | R$ 792374 | R$ 614410 |
CONCESSIONS PAYABLE - Additiona
CONCESSIONS PAYABLE - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Concessions Payable And Judicial Deposits [line items] | ||
Judicial deposits | R$ 24125 | R$ 22119 |
Rumo Malha Paulista S.A. [member] | ||
Disclosure Of Concessions Payable And Judicial Deposits [line items] | ||
Estimated investments to be made for sub-concession contracts | 6,100,000 | |
Obligation | R$ 3000000 | |
Percentage of physical execution | 22% | |
Rumo Malha Central S.A. [member] | ||
Disclosure Of Concessions Payable And Judicial Deposits [line items] | ||
Estimated investments to be made for sub-concession contracts | R$ 645573 | |
Percentage of physical execution | 76% | 65% |
Rumo Malha Central S.A. [member] | Bottom of range [member] | ||
Disclosure Of Concessions Payable And Judicial Deposits [line items] | ||
Contractual Fixed Term | 1 year | |
Rumo Malha Central S.A. [member] | Top of range [member] | ||
Disclosure Of Concessions Payable And Judicial Deposits [line items] | ||
Contractual Fixed Term | 3 years |
OTHER TAXES PAYABLE - Schedule
OTHER TAXES PAYABLE - Schedule of Other Taxes Payable (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of other taxes [line items] | ||
Other tax payable | R$ 913729 | R$ 683109 |
Current | 760,041 | 536,220 |
Non-Current | 153,688 | 146,889 |
Tax debts installments [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 208,760 | 200,664 |
ICMS [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 271,688 | 278,351 |
COFINS [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 246,501 | 88,214 |
PIS - Revenue tax [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 43,524 | 15,082 |
Social Security Charges [Member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 42,186 | 34,215 |
IRRF [Member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | 14,553 | 11,024 |
Other [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable | R$ 86517 | R$ 55559 |
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, 2022 | Dec. 31, 2021 |
Disclosure of other taxes [line items] | ||
Other tax payable non current | R$ 153688 | R$ 146889 |
13 to 24 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 2,255 | 4,370 |
25 to 36 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 656 | 1,514 |
37 to 48 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 656 | 716 |
49 to 60 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | 656 | 716 |
over 60 months [member] | ||
Disclosure of other taxes [line items] | ||
Other tax payable non current | R$ 149465 | R$ 139573 |
INCOME TAX AND SOCIAL CONTRIB_3
INCOME TAX AND SOCIAL CONTRIBUTION - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Income tax rate | 34% | ||||
Maximum permitted tax loss carry forwards percentage | 30% | ||||
Deferred tax relating to amortization surplus value to charged or credited directly to equity | R$ 129792 | ||||
ICMS benefit - extemporaneous tax credits | 345,067 | [1] | R$ 290745 | [1] | |
Estimated financial effect of contingent liabilities | 23,458,774 | 22,447,490 | |||
Tax contingent liability [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Estimated financial effect of contingent liabilities | R$ 22103 | ||||
Bottom of range [member] | ICMS credit [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Tax base of ICMS | 12% | ||||
Top of range [member] | ICMS credit [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Tax base of ICMS | 15% | ||||
Comgas [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
ICMS benefit extemporaneous tax credits included interest | R$ 272593 | ||||
ICMS benefit - extemporaneous tax credits | (240,251) | ||||
ICMS benefit extemporaneous tax credits interest | 32,342 | ||||
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 | 284,738 | ||||
Rumo Malha Oeste S.A. [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Tax losses and temporary differences | 825,770 | 785,894 | |||
Rumo Malha Sul S.A. [member] | |||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||
Tax losses and temporary differences | R$ 1463526 | R$ 1370146 | |||
[1]During the year ended December 31, 2022, the indirect subsidiary Comgás recognized an extemporaneous credit in the amount of R$ 272,593 (R$240,251 principal and R$32,342 interest), used to offset against income tax, social contribution, PIS and COFINS payable overdue in the year, related to overpayments of income tax and social contribution, due to the non-taxation of the benefit of reducing the ICMS tax base in the State of São Paulo from 12% to 15% pursuant to art. 8 45,900 62,399 2016 2017 2018 2019 |
INCOME TAX AND SOCIAL CONTRIB_4
INCOME TAX AND SOCIAL CONTRIBUTION - Schedule of Reconciliation of Income and Social Contribution Tax Expenses (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||||
INCOME TAX AND SOCIAL CONTRIBUTION | ||||||
Profit before taxes | R$ 2702471 | R$ 6250876 | R$ 1990961 | |||
Income tax and social contribution nominal rate | (918,840) | (2,125,298) | (676,927) | |||
Adjustments to determine the effective rate | ||||||
Interest in earnings of investees (non-taxable income) | [1] | 139,185 | 1,734,883 | 207,940 | ||
Differences in tax rates on earnings from operating profit | [2] | (16,973) | 55,910 | 19,793 | ||
Granted income tax incentive | 197,307 | 199,687 | 109,081 | |||
Share-based payment transactions | (73) | 450 | 9,941 | |||
Interest on shareholders' equity | (26,058) | (72,804) | (24,773) | |||
Non-deductible expenses (donations, gifts, etc.) | (13,788) | (28,061) | (4,183) | |||
Tax losses not recorded | (228,579) | (203,809) | (170,017) | |||
ICMS benefit - extemporaneous tax credits | 345,067 | [3] | 290,745 | [3] | ||
ICMS benefit - current period | 242,694 | [4] | 118,107 | [4] | ||
Rate difference | 446,293 | 5,577 | ||||
Amortization of the effects on formation of joint ventures | 402,571 | [5] | ||||
Goodwill amortization effect | 1,271 | 1,271 | 1,271 | |||
Other | [6] | (71,205) | 66,355 | 25,207 | ||
Selic on indebtedness | [7] | 22,103 | ||||
Income Taxes | R$ 118404 | R$ 445584 | R$ 502667 | |||
Effective rate | (4.38%) | (7.13%) | 25.25% | |||
[1]Equity income of R$129,792 represents the amortization of Raízen's capital gain, which is considered a temporary difference.[2]Earnings from operating profit from overseas companies[3]During the year ended December 31, 2022, the indirect subsidiary Comgás recognized an extemporaneous credit in the amount of R$ 272,593 (R$240,251 principal and R$32,342 interest), used to offset against income tax, social contribution, PIS and COFINS payable overdue in the year, related to overpayments of income tax and social contribution, due to the non-taxation of the benefit of reducing the ICMS tax base in the State of São Paulo from 12% to 15% pursuant to art. 8 45,900 62,399 2016 2017 2018 2019 1,063,187 2022 |
INCOME TAX AND SOCIAL CONTRIB_5
INCOME TAX AND SOCIAL CONTRIBUTION - Schedule of Reconciliation of Income and Social Contribution Tax Expenses (Detail) (Parenthetical) | 12 Months Ended |
Dec. 31, 2022 | |
INCOME TAX AND SOCIAL CONTRIBUTION | |
Income tax and social contribution nominal rate | 34% |
INCOME TAX AND SOCIAL CONTRIB_6
INCOME TAX AND SOCIAL CONTRIBUTION - Summary of Deferred Income Tax Assets and Liabilities (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
INCOME TAX AND SOCIAL CONTRIBUTION | ||
Income tax losses | R$ 2244654 | R$ 1739847 |
Negative base of social contribution | 809,556 | 627,860 |
Temporary differences | ||
Foreign exchange variation - Loans and financing | 1,701,529 | 1,667,500 |
Provision for lawsuits | 204,303 | 222,454 |
Impairment provision (Rumo Malha Oeste) | 34,469 | 34,704 |
Post-employment benefit obligation | 152,373 | 160,082 |
Provisions for uncertain tax credits and tax losses | 31,880 | 21,747 |
Provision for non-recoverability of taxes | 70,815 | 67,760 |
Share-based payment transactions | 82,480 | 50,114 |
Lease | 167,962 | 189,890 |
Unrealized loss with derivatives | 674,554 | |
Provisions for profit sharing | 124,833 | 98,224 |
Business combination – fixed assets | 36,535 | 24,318 |
Business combination – intangible assets | 119,060 | 111,590 |
Selic on indebtedness | 100,264 | 100,369 |
Other temporary differences | 581,059 | 342,307 |
Other | 507,151 | 232,647 |
Total deferred tax assets | 7,643,477 | 5,691,413 |
Useful life review | (401,926) | (350,110) |
Business combination – fixed assets | (76,263) | (40,294) |
Tax goodwill | (359,100) | (397,239) |
Unrealized income with derivatives | (226,243) | (1,028,058) |
Fair value adjustment on debts | (548,726) | (126,174) |
Marketable securities | (1,150,916) | (62,593) |
Investment properties | (391,382) | (100,197) |
Capitalized interest | (108,616) | (44,563) |
Effects on the formation of joint venture | (106,254) | (602,673) |
Business combination - fixed/intangible assets | (4,486,211) | (3,492,345) |
Post-employment obligations | (4,594) | |
Lease | (11,797) | (3,219) |
Provisions | (79,092) | (11,427) |
Other | (687,601) | (198,949) |
Total deferred tax liabilities | (8,638,721) | (6,457,841) |
Total deferred taxes recorded | (995,244) | (766,428) |
Deferred tax assets | 4,474,124 | 3,051,628 |
Deferred tax liabilities | (5,469,368) | (3,818,056) |
Total deferred, net | R$ 995244 | R$ 766428 |
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, 2022 | Dec. 31, 2021 | |
Deferred tax assets and liabilities [abstract] | ||
Other comprehensive results | ||
Total deferred taxes recorded | (995,244) | R$ 766428 |
Tax loss and negative basis | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 2,367,707 | 3,503,692 |
Credited / charged from income for the year | 686,503 | 565,197 |
Other comprehensive results | ||
Recognized in shareholders' equity | 5,878 | |
Business combination | 44 | |
Foreign exchange differences | ||
Transference | (1,707,104) | |
Ending balance | 3,054,210 | 2,367,707 |
Post- employment obligations | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 160,082 | 200,461 |
Credited / charged from income for the year | (7,709) | (12,737) |
Other comprehensive results | (27,642) | |
Recognized in shareholders' equity | ||
Business combination | ||
Foreign exchange differences | ||
Transference | ||
Ending balance | 152,373 | 160,082 |
Employee benefits | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 148,338 | 60,209 |
Credited / charged from income for the year | 58,975 | 101,836 |
Other comprehensive results | ||
Recognized in shareholders' equity | ||
Business combination | ||
Foreign exchange differences | ||
Transference | (13,707) | |
Ending balance | 207,313 | 148,338 |
Provisions | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 688,972 | 996,530 |
Credited / charged from income for the year | 233,554 | 93,396 |
Other comprehensive results | ||
Recognized in shareholders' equity | 68 | |
Business combination | (10,129) | |
Foreign exchange differences | ||
Transference | (390,893) | |
Ending balance | 922,526 | 688,972 |
Property, plant and equipment | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 399,537 | |
Credited / charged from income for the year | (433,371) | |
Other comprehensive results | ||
Recognized in shareholders' equity | ||
Business combination | (19,513) | |
Foreign exchange differences | ||
Transference | 53,347 | |
Ending balance | ||
Unrealized income with derivatives | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | ||
Credited / charged from income for the year | 674,554 | |
Other comprehensive results | ||
Recognized in shareholders' equity | ||
Business combination | ||
Foreign exchange differences | ||
Transference | ||
Ending balance | 674,554 | |
Leases | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 189,890 | |
Credited / charged from income for the year | (21,928) | |
Other comprehensive results | ||
Recognized in shareholders' equity | ||
Business combination | ||
Foreign exchange differences | ||
Transference | 189,890 | |
Ending balance | 167,962 | 189,890 |
Intangible | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 111,590 | |
Credited / charged from income for the year | 7,470 | |
Other comprehensive results | ||
Recognized in shareholders' equity | ||
Business combination | ||
Foreign exchange differences | ||
Transference | 111,590 | |
Ending balance | 119,060 | 111,590 |
Other | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 2,024,834 | 2,372,324 |
Credited / charged from income for the year | 299,687 | (1,642,143) |
Other comprehensive results | 20,035 | |
Recognized in shareholders' equity | (13,071) | 4,267 |
Business combination | ||
Foreign exchange differences | 34,029 | 1,213,324 |
Transference | 57,027 | |
Ending balance | 2,345,479 | 2,024,834 |
Deferred Tax Assets | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | 5,691,413 | 5,213,755 |
Credited / charged from income for the year | 1,931,106 | (1,491,712) |
Other comprehensive results | (7,754) | |
Recognized in shareholders' equity | (13,071) | 10,213 |
Business combination | (29,598) | |
Foreign exchange differences | 34,029 | 1,213,324 |
Transference | 783,185 | |
Ending balance | 7,643,477 | 5,691,413 |
Effects on the formation of joint ventures | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (602,673) | (1,135,036) |
Credited / charged from income for the year | 496,419 | 466,528 |
Other comprehensive results | ||
Business combination | ||
Transference | 65,835 | |
Ending balance | (106,254) | (602,673) |
Post-employment obligation | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | ||
Credited / charged from income for the year | (4,594) | |
Other comprehensive results | ||
Business combination | ||
Transference | ||
Ending balance | (4,594) | |
Intangible | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (3,492,345) | (3,603,568) |
Credited / charged from income for the year | 369,455 | 51,732 |
Other comprehensive results | ||
Business combination | (1,363,321) | |
Transference | 59,491 | |
Ending balance | (4,486,211) | (3,492,345) |
Unrealized income with derivatives | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | ||
Beginning balance | (1,028,058) | (2,206,216) |
Credited / charged from income for the year | 807,391 | 1,063,297 |
Other comprehensive results | (5,576) | 108,546 |
Business combination | ||
Transference | 6,315 | |
Ending balance | (226,243) | (1,028,058) |
Property, plant and equipment | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (350,110) | |
Credited / charged from income for the year | (51,816) | |
Other comprehensive results | ||
Business combination | ||
Transference | (350,110) | |
Ending balance | (401,926) | (350,110) |
Leases | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (3,219) | (25,459) |
Credited / charged from income for the year | (8,578) | 456,858 |
Other comprehensive results | 230 | |
Business combination | ||
Transference | (434,848) | |
Ending balance | (11,797) | (3,219) |
Debt Fair value adjustment | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (126,174) | (526,002) |
Credited / charged from income for the year | (355,946) | (653,320) |
Other comprehensive results | ||
Business combination | (66,606) | |
Transference | 1,144 | |
Ending balance | (548,726) | (126,174) |
Provisions | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (11,427) | |
Credited / charged from income for the year | (67,665) | |
Other comprehensive results | ||
Business combination | ||
Transference | (11,427) | |
Ending balance | (79,092) | (11,427) |
Others | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (843,835) | (560,369) |
Credited / charged from income for the year | (1,784,407) | 126,479 |
Other comprehensive results | (1,469) | (127,076) |
Business combination | (144,167) | 163,284 |
Transference | (119,585) | |
Ending balance | (2,773,878) | (843,835) |
Unregistered credits | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (2,318,998) | |
Credited / charged from income for the year | (163,890) | |
Other comprehensive results | (147) | |
Recognized in shareholders' equity | ||
Business combination | ||
Foreign exchange differences | ||
Transference | 2,483,035 | |
Ending balance | ||
Deferred Tax Liabilities | ||
Deferred tax assets and liabilities [abstract] | ||
Beginning balance | (6,457,841) | (7,004,646) |
Credited / charged from income for the year | (599,741) | 1,511,574 |
Other comprehensive results | (7,045) | (18,300) |
Business combination | (1,574,094) | (163,284) |
Transference | (783,185) | |
Ending balance | R$ 8638721 | R$ 6457841 |
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, 2022 | Dec. 31, 2021 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | R$ 4474124 | R$ 3051628 |
Within 1 year | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 273,887 | |
From 1 to 2 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 216,750 | |
From 2 to 3 years | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 644,339 | |
From 3 to 4 years | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 623,869 | |
From 4 to 5 years | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 982,785 | |
From 5 to 8 years | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | 1,119,631 | |
From 8 to 10 years | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total | R$ 612863 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | R$ 1801186 | R$ 1644061 | R$ 1360898 |
Judicial deposit | 814,444 | 923,061 | |
Tax [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 747,647 | 647,610 | 635,406 |
Judicial deposit | 585,988 | 500,484 | |
Civil, environmental and regulatory [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 662,052 | 585,034 | |
Judicial deposit | 92,411 | 169,857 | |
Labor [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 391,487 | 411,417 | R$ 374723 |
Judicial deposit | R$ 136045 | R$ 252720 |
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, 2022 | Dec. 31, 2021 | |
Disclosure of other provisions [line items] | ||
Legal proceedings provision beginning balance | R$ 1644061 | R$ 1360898 |
Provisioned in the year | 384,610 | 242,960 |
Write-offs by reversal / payment | (520,403) | (189,500) |
Conversion effect | 19,832 | |
Interest | 273,086 | 229,703 |
Legal proceedings provision ending balance | 1,801,186 | 1,644,061 |
Tax [member] | ||
Disclosure of other provisions [line items] | ||
Legal proceedings provision beginning balance | 647,610 | 635,406 |
Provisioned in the year | 71,063 | 24,559 |
Write-offs by reversal / payment | (56,447) | (15,331) |
Conversion effect | 3,994 | |
Interest | 81,427 | 2,976 |
Legal proceedings provision ending balance | 747,647 | 647,610 |
Civil, environmental and regulatory [member] | ||
Disclosure of other provisions [line items] | ||
Legal proceedings provision beginning balance | 585,034 | 350,769 |
Provisioned in the year | 159,758 | 103,805 |
Write-offs by reversal / payment | (238,912) | (56,931) |
Conversion effect | 15,786 | |
Interest | 140,386 | 187,391 |
Legal proceedings provision ending balance | 662,052 | 585,034 |
Labor [member] | ||
Disclosure of other provisions [line items] | ||
Legal proceedings provision beginning balance | 411,417 | 374,723 |
Provisioned in the year | 153,789 | 114,596 |
Write-offs by reversal / payment | (225,044) | (117,238) |
Conversion effect | 52 | |
Interest | 51,273 | 39,336 |
Legal proceedings provision ending balance | R$ 391487 | R$ 411417 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other provisions [line items] | |||
Estimated financial effect of contingent liabilities | R$ 23458774 | R$ 22447490 | |
Provision for legal proceedings | 1,801,186 | 1,644,061 | R$ 1360898 |
Legal proceedings provision, tax [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 747,647 | 647,610 | 635,406 |
Legal proceedings provision, tax [member] | Compensation with FINSOCIAL [Member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 312,721 | 300,470 | |
Legal proceedings provision, tax [member] | INSS [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 98,657 | 97,847 | |
Legal proceedings provision, tax [member] | ICMS credit [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 125,723 | 85,965 | |
Legal proceedings provision, tax [member] | PIS and COFINS [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 30,446 | 28,427 | |
Legal proceedings provision, tax [member] | IPI [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 60,852 | 43,461 | |
Legal proceedings provision, tax [member] | Income tax and social contribution [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 11,676 | 8,553 | |
Legal proceedings provision, tax [member] | Others [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 107,572 | 82,887 | |
Civil, environmental and regulatory [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 662,052 | 585,034 | 350,769 |
Legal proceedings provision, labor [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | R$ 391487 | R$ 411417 | R$ 374723 |
PROVISION FOR LEGAL PROCEEDIN_6
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | R$ 23458774 | R$ 22447490 | |
Provision for legal proceedings | 1,801,186 | 1,644,061 | R$ 1360898 |
Legal proceedings contingent liability, civil, regulatory and environmental [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 6,597,105 | 6,939,743 | |
Legal proceedings contingent liability, civil, regulatory and environmental [member] | Civil [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 3,336,284 | 4,221,797 | |
Legal proceedings contingent liability, civil, regulatory and environmental [member] | Environmental [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 1,764,671 | 1,472,542 | |
Legal proceedings contingent liability, civil, regulatory and environmental [member] | Regulatory [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 1,496,150 | 1,245,404 | |
Legal Proceedings Contingent Liability, Tax [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 16,079,589 | 14,647,917 | |
Legal Proceedings Contingent Liability, Tax [member] | Isolated fine - Federal taxes [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 762,613 | 461,747 | |
Legal Proceedings Contingent Liability, Tax [member] | Income tax and social contribution [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 6,297,550 | 5,404,264 | |
Legal Proceedings Contingent Liability, Tax [member] | ICMS - Tax on circulation of goods [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 2,987,853 | 2,877,144 | |
Legal Proceedings Contingent Liability, Tax [member] | IRRF [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 1,366,268 | 1,251,394 | |
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 | 2,556,050 | 2,368,123 | |
Legal Proceedings Contingent Liability, Tax [member] | MP 470 installment of debts [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 388,166 | 398,184 | |
Legal Proceedings Contingent Liability, Tax [member] | Stock Grant Plan [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 68,846 | 65,260 | |
Legal Proceedings Contingent Liability, Tax [member] | IOF on loans [Member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 149,323 | 136,286 | |
Legal Proceedings Contingent Liability, Tax [member] | Reward Credit Compensation [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 138,753 | 186,048 | |
Legal Proceedings Contingent Liability, Tax [member] | IPI - Tax on industrialized products [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 374,274 | 492,025 | |
Legal Proceedings Contingent Liability, Tax [member] | INSS [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 161,037 | 180,533 | |
Legal Proceedings Contingent Liability, Tax [member] | Others [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | 828,856 | 826,909 | |
Legal Proceedings Contingent Liability, Labor [member] | |||
Disclosure of contingent liabilities [line items] | |||
Principal proceedings, deemed risk of loss as possible | R$ 782080 | R$ 859830 |
PROVISION FOR LEGAL PROCEEDIN_7
PROVISION FOR LEGAL PROCEEDINGS AND JUDICIAL DEPOSITS - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | R$ 1801186 | R$ 1644061 | R$ 1360898 |
Percentage of fines on ICMS tax amount | 50% | ||
Concessions payable | R$ 3351410 | 3,054,248 | |
Compensation for collective pain and suffering | 100,000 | ||
Civil [member] | |||
Disclosure of other provisions [line items] | |||
Indemnity proceeding due to the economic and financial imbalance of the Concession Agreement | 280,000 | ||
Civil [member] | Moove [member] | |||
Disclosure of other provisions [line items] | |||
Indemnity proceeding due to the economic and financial imbalance of the Concession Agreement | 134,000 | ||
Regulatory [member] | Moove [member] | |||
Disclosure of other provisions [line items] | |||
Indemnity proceeding due to the economic and financial imbalance of the Concession Agreement | 288,000 | ||
Rumo S.A. [member] | Civil [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 26,842 | ||
Amount of fine to be paid | 291,767 | ||
Concessions payable | 127,820 | ||
Rumo Intermodal SA [member] | Civil [member] | |||
Disclosure of other provisions [line items] | |||
Indemnity proceeding due to the economic and financial imbalance of the Concession Agreement | 192,470 | ||
Equitable Reduction Appealed In Dispute Lawsuit | 15,000 | ||
Provision for legal proceedings | 18,422 | ||
Rumo Malha Sul S.A. [member] | Civil [member] | |||
Disclosure of other provisions [line items] | |||
Indemnity proceeding due to the economic and financial imbalance of the Concession Agreement | R$ 118068 | ||
Percentage of contingent liabilities provisioned | 50% | ||
Amount of fine imposed under appeal | R$ 158967 | ||
Rumo Malha Paulista S.A. [member] | |||
Disclosure of other provisions [line items] | |||
Collective moral damages | 15,000 | ||
Compensation payable to various social entities | 20,000 | ||
Rumo Malha Paulista S.A. [member] | Regulatory [member] | |||
Disclosure of other provisions [line items] | |||
Indemnity proceeding due to the economic and financial imbalance of the Concession Agreement | 328,626 | ||
Amount of fine imposed under appeal | 199,981 | ||
Rumo Malha Paulista S.A. [member] | Environmental [member] | |||
Disclosure of other provisions [line items] | |||
Indemnity proceeding due to the economic and financial imbalance of the Concession Agreement | 130,349 | ||
Legal proceedings provision, tax [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 747,647 | 647,610 | 635,406 |
Legal proceedings provision, tax [member] | ICMS credit [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | 125,723 | 85,965 | |
Legal proceedings provision, labor [member] | |||
Disclosure of other provisions [line items] | |||
Provision for legal proceedings | R$ 391487 | R$ 411417 | R$ 374723 |
SHAREHOLDERS EQUITY - Summary o
SHAREHOLDERS EQUITY - Summary of Share Capital (Detail) - Common shares [member] - shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of classes of share capital [line items] | ||
Percentage of shares outstanding | 99.60% | |
Percentage of treasury shares | 0.40% | |
Percentage of shares issued | 100% | |
Total of shares | 1,866,638,100 | |
Treasury shares | 7,432,832 | 5,440,772 |
Total | 1,874,070,932 | |
Free float [member] | ||
Disclosure of classes of share capital [line items] | ||
Percentage of shares outstanding | 62.34% | |
Total of shares | 1,168,209,823 | |
Controlling Group [member] | ||
Disclosure of classes of share capital [line items] | ||
Percentage of shares outstanding | 35.87% | |
Total of shares | 672,312,942 | |
Administrators [member] | ||
Disclosure of classes of share capital [line items] | ||
Percentage of shares outstanding | 1.39% | |
Total of shares | 26,115,335 |
SHAREHOLDERS EQUITY - Schedule
SHAREHOLDERS EQUITY - Schedule of dividend payable (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
SHAREHOLDERS’ EQUITY | |||
Owners of the Company | R$ 1176032 | R$ 6312140 | R$ 859482 |
Constitution of the legal reserve – 5% | (58,802) | ||
Calculation basis for distribution of dividends | 1,117,230 | ||
Mandatory minimum dividends – 25% | (279,308) | ||
Statutory reserve | 837,922 | ||
Movement of dividends payable | |||
Beginning balance | 799,634 | 1,413,222 | |
Dividends for the current year | 1,237,779 | 2,031,301 | |
Dividends paid/offset | (1,145,407) | (2,644,889) | |
Ending balance | R$ 892006 | R$ 799634 | R$ 1413222 |
SHAREHOLDERS EQUITY - Schedul_2
SHAREHOLDERS EQUITY - Schedule of dividend payable (Details) (Parenthetical) | Dec. 31, 2022 |
SHAREHOLDERS’ EQUITY | |
Percentage of net income constituted as legal reserve | 5% |
Percentage of Mandatory Minimum Dividends | 25% |
SHAREHOLDERS EQUITY - Schedul_3
SHAREHOLDERS EQUITY - Schedule of receivable (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of classes of share capital [line items] | ||
Beginning balance | R$ 519965 | R$ 80755 |
Proposed dividends | 828,537 | 1,085,987 |
Proposed interest on own capital | 107,544 | 189,378 |
Business combination | 202,968 | |
Dividends received | (1,497,867) | (836,155) |
Ending balance | 161,147 | 519,965 |
Investments in associates [Member] | ||
Disclosure of classes of share capital [line items] | ||
Beginning balance | 2,621 | 3,261 |
Proposed dividends | 278,654 | 15,786 |
Proposed interest on own capital | ||
Business combination | 202,968 | |
Dividends received | (323,096) | (16,426) |
Ending balance | 161,147 | 2,621 |
Investments in joint venture [Member] | ||
Disclosure of classes of share capital [line items] | ||
Beginning balance | 517,344 | 77,494 |
Proposed dividends | 549,883 | 1,070,201 |
Proposed interest on own capital | 107,544 | 189,378 |
Business combination | ||
Dividends received | (1,174,771) | (819,729) |
Ending balance | R$ 517344 |
SHAREHOLDERS EQUITY - Summary_2
SHAREHOLDERS EQUITY - Summary of Other Comprehensive (Loss) Income (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | R$ 28870022 | R$ 20818867 | R$ 16240481 |
Comprehensive (loss) income | 993,684 | (467,466) | (605,401) |
Ending balance | 48,169,399 | 28,870,022 | 20,818,867 |
Loss on cash flow hedge [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (1,917,917) | (1,316,502) | |
Comprehensive (loss) income | 556,022 | (601,415) | |
Ending balance | (1,361,895) | (1,917,917) | (1,316,502) |
Foreign currency translation differences [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 96,362 | 6,514 | |
Comprehensive (loss) income | 1,914,552 | 89,848 | |
Ending balance | 2,010,914 | 96,362 | 6,514 |
Actuarial loss on defined benefit plan [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (266,574) | (329,956) | |
Comprehensive (loss) income | 46,911 | 63,382 | |
Ending balance | (219,663) | (266,574) | (329,956) |
Deferred tax on actuarial losses of defined benefit plan | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 90,635 | 112,185 | |
Comprehensive (loss) income | (15,950) | (21,550) | |
Ending balance | 74,685 | 90,635 | 112,185 |
Gain on measurement of financial instrument | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 15,000 | 15,000 | |
Comprehensive (loss) income | (60,631) | ||
Ending balance | (45,631) | 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 | 5,794 | 2,356 | |
Comprehensive (loss) income | 71,358 | 3,438 | |
Ending balance | 77,152 | 5,794 | 2,356 |
Deferred tax on change in the fair value of a financial asset | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (1,970) | (801) | |
Comprehensive (loss) income | (24,262) | (1,169) | |
Ending balance | (26,232) | (1,970) | (801) |
Predecessor adjustments [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 1,381,798 | ||
Comprehensive (loss) income | (1,381,798) | 1,381,798 | |
Ending balance | 1,381,798 | ||
Total [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (596,872) | (1,511,204) | |
Comprehensive (loss) income | 1,106,202 | 914,332 | |
Ending balance | 509,330 | (596,872) | (1,511,204) |
Attributable to Owners of the Company [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (521,609) | (1,524,027) | (805,471) |
Comprehensive (loss) income | 1,089,155 | 1,002,418 | |
Ending balance | 567,546 | (521,609) | (1,524,027) |
Attributable to Non-controlling interests [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (75,263) | 12,823 | |
Comprehensive (loss) income | 17,047 | (88,086) | |
Ending balance | R$ 58216 | R$ 75263 | R$ 12823 |
SHAREHOLDERS EQUITY - Additiona
SHAREHOLDERS EQUITY - Additional Information (Detail) R$ / shares in Units, R$ in Thousands | 12 Months Ended | |||||
May 09, 2022 shares | Apr. 29, 2022 BRL (R$) | Apr. 30, 2021 | Dec. 31, 2022 BRL (R$) R$ / shares shares | Dec. 31, 2021 BRL (R$) shares | Dec. 31, 2020 BRL (R$) | |
Disclosure of classes of share capital [line items] | ||||||
Fully paid in issued capital | R$ 8402544 | R$ 6365853 | ||||
Amount of shares authorized | R$ 9000000 | |||||
Stock Split, Conversion Ratio | 0.25 | |||||
Approval amount of increase in share capital | R$ 2036691 | |||||
Dividends paid | 1,423,757 | |||||
Dividend as a percetage of net income | 25% | |||||
Cancellation of treasury shares | R$ 3650 | R$ 1251014 | ||||
Common shares [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Number of nominative common shares | shares | 1,874,070,932 | |||||
Stock Split, Conversion Ratio | 0.25 | |||||
Number of shares buyback authorised | shares | 110,000,000 | |||||
Percentage of buyback shares represent total shares | 9.39% | |||||
Treasury shares | shares | 7,432,832 | 5,440,772 | ||||
Market value per share | R$ / shares | R$ 17.12 | |||||
Shares repurchased | shares | 3,683,500 | |||||
Number of shares issued to employees for share-based compensation plans | shares | 1,487,709 | |||||
Shares repurchased amount | R$ 59506 | |||||
Number of shares sold or issued for other than share-based compensation plans | shares | 203,731 | |||||
Amount of shares issued during period for share based compensation plans | R$ 19678 | |||||
Amount of shares issued to members of share-based criteria plans | 1,752 | |||||
Amount of cash received from executives | 2,370 | |||||
Gain generated from cash received from executives | R$ 618 | |||||
Treasury shares [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Cancellation of treasury shares | R$ 496741 | |||||
Legal reserve | ||||||
Disclosure of classes of share capital [line items] | ||||||
Increase (decrease) through transfer to statutory reserve, equity | 348,753 | |||||
Percentage of reserve allocation from net income | 5% | |||||
Threshold percentage limit of capital for legal reserve to be maintained | 20% | |||||
Statutory reserve [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Increase (decrease) through transfer to statutory reserve, equity | R$ 264181 |
EARNINGS PER SHARE - Summary of
EARNINGS PER SHARE - Summary of Calculation of Earnings per Share (Detail) R$ / shares in Units, R$ in Thousands | 12 Months Ended | |||
Apr. 30, 2021 | Dec. 31, 2022 BRL (R$) R$ / shares shares | Dec. 31, 2021 BRL (R$) R$ / shares shares | Dec. 31, 2020 BRL (R$) R$ / shares shares | |
EARNINGS PER SHARE | ||||
Income attributable to holders of common shares of Company used in calculating basic earnings per share | R$ | R$ 1176032 | R$ 6312140 | R$ 859482 | |
Dilutive effect of the share-based plan of subsidiaries | R$ | (1,739) | (5,249) | (5,739) | |
Income attributable to holders of common shares of Company used in the calculation of diluted earnings per share | R$ | R$ 1174293 | R$ 6306891 | R$ 853743 | |
Basic weighted average number of common shares outstanding | 1,869,077,000 | 1,834,533,000 | 1,834,533,000 | |
Dilutive effect of the share-based plan weighted average number of common shares outstanding | 5,503,000 | 4,687,000 | 6,741,000 | |
Diluted weighted average number of common shares outstanding | 1,874,580,000 | 1,839,220,000 | 1,841,274,000 | |
Basic earnings per share | R$ / shares | R$ 0.6292 | R$ 3.4407 | R$ 0.4685 | |
Diluted earnings per share | R$ / shares | R$ 0.6264 | R$ 3.4291 | R$ 0.4637 | |
Number of categories of potential dilutive effects | 2 | |||
Anti-dilutive instruments excluded from computation of earnings per share | 61,540,876 | 45,765,000 | ||
Stock Split, Conversion Ratio | 0.25 |
NET SALES - Analysis of Revenue
NET SALES - Analysis of Revenue from Continuing Operations (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
NET SALES | |||
Gross revenue from sales of products and services | R$ 46391989 | R$ 30317755 | R$ 24040536 |
Construction revenue | 1,217,818 | 1,020,176 | 885,630 |
Indirect taxes and deductions | (7,872,439) | (5,472,930) | (4,488,331) |
Net sales | R$ 39737368 | R$ 25865001 | R$ 20437835 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | R$ 39737368 | R$ 25865001 | R$ 20437835 |
Elimination [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | (63,036) | (52,681) | (37,888) |
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 | 28,451,660 | 16,891,471 | 12,492,063 |
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 | 18,268,994 | 10,447,312 | 7,372,957 |
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 | 238,544 | 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 | 8,690,659 | 5,546,093 | 4,283,704 |
Goods or services transferred at point in time [member] | Leasing and Sale of Properties [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 834,616 | ||
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 | 418,847 | 277,571 | 59,923 |
Goods or services transferred over time [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 11,348,744 | 9,026,211 | 7,983,660 |
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 | 9,503,965 | 7,103,706 | 6,680,307 |
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 | 337,543 | 335,965 | 285,852 |
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 | 1,217,818 | 1,020,176 | 885,630 |
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$ 289418 | R$ 566364 | R$ 131871 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
COSTS AND EXPENSES BY NATURE | |||
Commodity cost (natural gas) | R$ 14307087 | R$ 7211545 | R$ 4620647 |
Raw materials | (6,588,465) | (4,631,436) | (3,289,845) |
Personnel expenses | (2,498,912) | (1,997,881) | (2,533,429) |
Depreciation and amortization | (3,014,480) | (2,504,384) | (2,340,854) |
Railroad transportation and port elevation expenses | (3,074,624) | (2,128,043) | (1,897,975) |
Electricity purchased for resale | (260,891) | (968,503) | (927,913) |
Construction cost | (1,217,818) | (1,020,176) | (885,630) |
Other transport | (137,255) | (25,143) | |
Selling expenses | (23,505) | (23,638) | (23,387) |
Expenses with third-party services | (888,195) | (751,486) | |
Cost of properties sold (Note 10.5) | (550,432) | ||
Other | (1,444,083) | (897,789) | (731,869) |
Total expenses by nature | (34,005,747) | (22,160,024) | (17,251,549) |
Cost of sales | (30,753,137) | (19,864,248) | (14,999,823) |
Selling expenses | (1,276,279) | (723,419) | (661,907) |
General and administrative expenses | (1,976,331) | (1,572,357) | (1,589,819) |
Total cost and expenses | R$ 34005747 | R$ 22160024 | R$ 17251549 |
OTHER OPERATING INCOME, NET - S
OTHER OPERATING INCOME, NET - Summary of Details of Other income (expenses), net (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
OTHER OPERATING INCOME, NET | ||||
Settlement of disputes in the renewal process | [1] | R$ 90022 | R$ 9242 | R$ 278496 |
Tax credits | [2] | 114,812 | 287,049 | 132,399 |
Gain (loss) on disposal of non-current assets and intangibles | (13,035) | 7,295 | 30,610 | |
Gain from bargain purchase (Note 8.3) | 99,341 | 416,268 | ||
Reimbursement of natural gas loss in the process | 26,945 | |||
Net effect of legal proceedings | (370,765) | (263,945) | (32,704) | |
Depreciation of right-of-use assets | (100,593) | |||
Disposal of credit rights | (68,311) | |||
Change in fair value of investment properties | 1,311,691 | 17,116 | ||
Loss on impairment | (143,984) | |||
Income from the sale of investments | [3] | 988,077 | ||
Outcome of judicial settlement | [4] | (396,818) | ||
Other | 108,941 | (90,425) | 54,011 | |
Other (expense) income, net | R$ 1752222 | R$ 382600 | R$ 176869 | |
[1] Additional grant resulting from the annual revisions to the sub-concession contracts of the subsidiary . Extemporaneous credit from the exclusion of ICMS from the PIS and COFINS base (See Note 6 On November 22, 2022, the subsidiary signed an agreement to close a confidential arbitration procedure through the acquisition of all the shares of the Company S.A., with whom it was engaged in litigation and which it subsequently merged. The transaction involved a net cash payment of R$51,132 and the assumption of a bank debt totaling R$396,818. |
OTHER OPERATING INCOME, NET -_2
OTHER OPERATING INCOME, NET - Summary of Details of Other income (expenses), net (Detail) (Parenthetical) - BRL (R$) R$ in Thousands | 12 Months Ended | |||||
Dec. 01, 2022 | Nov. 22, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Other Operating Income And Expense Net [line items] | ||||||
Gains on disposals of investments | [1] | R$ 988077 | ||||
Cash transferred | 322,255 | |||||
Outcome of judicial settlement | [2] | R$ 396818 | ||||
Rumo S.A. [member] | ||||||
Other Operating Income And Expense Net [line items] | ||||||
Proportion of ownership interest in subsidiary | 80% | |||||
Gains on disposals of investments | R$ 955584 | |||||
Cash transferred | R$ 51132 | |||||
Outcome of judicial settlement | R$ 396818 | |||||
Payly Solucoes de Pagamentos SA [Member] | ||||||
Other Operating Income And Expense Net [line items] | ||||||
Gains on disposals of investments | R$ 32493 | |||||
Percentage of voting equity interests acquired | 25% | |||||
Cash transferred | R$ 87200 | |||||
[1]The disposal of 80% of the subsidiary Rumo’s stake in EPSA (see Note 1.2), generated a gain of R$955,584. Additionally, on December 1, 2022, Cosan acquired 25% of the minority interest in Payly Soluces de Pagamentos S.A. ("Payly") for R$87,200, becoming its sole shareholder, and, on the same day, sold all of its equity interest to Raízen S.A., for a financial result of R$32,493.[2] On November 22, 2022, the subsidiary signed an agreement to close a confidential arbitration procedure through the acquisition of all the shares of the Company S.A., with whom it was engaged in litigation and which it subsequently merged. The transaction involved a net cash payment of R$51,132 and the assumption of a bank debt totaling R$396,818. |
FINANCE RESULT - Summary of Fin
FINANCE RESULT - Summary of Finance Results (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
FINANCE RESULT | ||||
Interest on debt | R$ 4464754 | R$ 3162853 | R$ 2148322 | |
Monetary and exchange rate variation | 549,682 | (1,069,157) | (3,253,446) | |
Derivatives and fair value measurement | (4,203,149) | 2,193,855 | 3,918,848 | |
Amortization of borrowing costs | (244,344) | (341,034) | (58,732) | |
Guarantees and warranties | (41,505) | (52,082) | (56,079) | |
Cost of gross debt | (8,404,070) | (2,431,271) | (1,597,731) | |
Income from financial investment and exchange rate in cash and cash equivalents | 1,788,477 | 600,894 | 369,690 | |
Changes in fair value of investments in listed entities(i) | 3,385,047 | [1] | ||
Other finance income | 5,173,524 | 600,894 | 369,690 | |
Cost of debt, net | (3,230,546) | (1,830,377) | (1,228,041) | |
Interest on other receivables | 355,634 | 411,394 | 201,060 | |
Monetary variation of other financial assets | (1,405) | (372) | ||
Interest on other payables | (454,373) | (424,946) | (16,293) | |
Interest on lease | (374,177) | (407,972) | (595,482) | |
Interest on shareholders' equity | 33,134 | (8,288) | (4,959) | |
Interest on contingencies and contracts | (593,144) | (315,620) | (234,368) | |
Bank charges and other | (145,200) | (96,983) | (75,408) | |
Foreign exchange, net | (747,859) | 115,607 | (30,505) | |
Other charges and monetary variations net | (1,927,390) | (727,180) | (755,955) | |
Finance results, net | (5,157,936) | (2,557,557) | (1,983,996) | |
Finance expense | (4,706,535) | (2,527,506) | (4,727,561) | |
Finance income | 5,777,521 | 1,258,441 | 407,710 | |
Foreign exchange, net | 260,746 | (1,099,536) | (3,258,656) | |
Derivatives | (6,489,668) | (188,956) | 5,594,511 | |
Finance results, net | R$ 5157936 | R$ 2557557 | R$ 1983996 | |
[1]Changes in fair value recognized in profit or loss based on the market value of Vale's shares, as per Note 1.3. |
POST-EMPLOYMENT BENEFIT - Summa
POST-EMPLOYMENT BENEFIT - Summary of Post-employment Benefits (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Health Plan | ||
Post-employment benefits | R$ 575840 | R$ 669475 |
Futura II [member] | Defined contribution [member] | ||
Health Plan | ||
Post-employment benefits | 332 | 190 |
Futura [member] | Defined benefit [member] | ||
Health Plan | ||
Post-employment benefits | 127,351 | 198,761 |
Health plan [member] | Health Plan | ||
Health Plan | ||
Post-employment benefits | R$ 448157 | R$ 470524 |
POST-EMPLOYMENT BENEFIT - Addit
POST-EMPLOYMENT BENEFIT - Additional Information (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
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$ 303 | R$ 217 | R$ 214 |
Weighted average duration of defined benefit obligation | 8 years 8 months 12 days | 9 years 7 months 6 days | |
Change in methods for preparing the sensitivity analysis | Regarding biometric and demographic assumptions and the methods used to prepare the sensitivity analysis, there was no change from previous years. | ||
Defined benefit [member] | CLE [member] | |||
Health Plan | |||
Sponsor contribution to defined contribution plans | R$ 60827 | R$ 5166 | R$ 7044 |
Health plan [member] | |||
Health Plan | |||
Sponsor contribution to defined contribution plans | R$ 27118 | R$ 25169 | |
Weighted average duration of defined benefit obligation | 10 years 7 months 6 days | 11 years 8 months 12 days |
POST-EMPLOYMENT BENEFIT - Sum_2
POST-EMPLOYMENT BENEFIT - Summary of Defined Benefit Obligation and Fair Value of Plan Assets (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of net defined benefit liability (asset) [line items] | |||
Current service cost | R$ 219 | R$ 487 | R$ 540 |
Interest income | (56,119) | (52,490) | (45,567) |
Actuarial (gain) loss arising from financial assumptions | 88,709 | 183,156 | 58,250 |
Actuarial (loss) gain arising from experience adjustment | (14,319) | (77,112) | (30,267) |
Actuarial loss arising from demographic assumptions | (14) | ||
Employer contributions | (303) | (217) | (214) |
Net defined benefit liability | 575,508 | 669,285 | 728,548 |
Present value of defined benefit obligation [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Beginning balance | 1,161,693 | 1,249,156 | 1,249,630 |
Current service cost | 219 | 487 | 540 |
Interest income | 98,343 | 88,299 | 89,253 |
Actuarial (gain) loss arising from financial assumptions | (88,709) | (183,159) | (58,250) |
Actuarial (loss) gain arising from experience adjustment | 14,319 | 77,111 | 30,267 |
Cost of past services | 319 | ||
Early settlement in the plan | 3,081 | ||
Actuarial loss arising from demographic assumptions | 14 | ||
Benefit payments | (85,121) | (70,201) | (62,298) |
Ending balance | 1,097,982 | 1,161,693 | 1,249,156 |
Plan assets [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Beginning balance | (492,408) | (520,608) | (544,988) |
Interest income | (42,224) | (35,809) | (38,452) |
Return on investments in the year (excluding interest income) | 11,405 | 24,143 | 34,370 |
Early settlement in the plan | 3,698 | ||
Employer contributions | (87,945) | (30,336) | (33,836) |
Benefit payments | 85,000 | 70,202 | 62,298 |
Ending balance | R$ 522474 | R$ 492408 | R$ 520608 |
POST-EMPLOYMENT BENEFIT - Sum_3
POST-EMPLOYMENT BENEFIT - Summary of Expense Recognized in Profit or Loss (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
POST-EMPLOYMENT BENEFIT | |||
Current service cost | R$ 219 | R$ 487 | R$ 540 |
Interest on actuarial obligation | (56,119) | (52,490) | (45,567) |
Total expense recognized in profit or loss | R$ 56338 | R$ 52977 | R$ 46107 |
POST-EMPLOYMENT BENEFIT - Sum_4
POST-EMPLOYMENT BENEFIT - Summary of Amount Recognised as Accumulated Other Comprehensive Income (Detail) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
POST-EMPLOYMENT BENEFIT | |||
Accumulated at the beginning of the year | R$ 141803 | R$ 59904 | R$ 66305 |
Actuarial (gain) loss arising from financial assumptions | 88,709 | 183,156 | 58,250 |
Actuarial (loss) gain arising from experience adjustment | (14,319) | (77,112) | (30,267) |
Actuarial loss arising from demographic assumptions | (14) | ||
Return on investments in the year (excluding interest income) | (11,405) | (24,145) | (34,370) |
Accumulated at the end of the year | R$ 204788 | R$ 141803 | R$ 59904 |
POST-EMPLOYMENT BENEFIT - Sum_5
POST-EMPLOYMENT BENEFIT - Summary of Plan Assets (Detail) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of fair value of plan assets [line items] | ||
Plan assets at fair value | R$ 521568 | R$ 484895 |
Percentage fair value of plan assets | 100% | 100% |
Fixed income [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets at fair value | R$ 496950 | R$ 484847 |
Percentage fair value of plan assets | 95.28% | 99.99% |
Others [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets at fair value | R$ 24618 | R$ 48 |
Percentage fair value of plan assets | 4.72% | 0.01% |
POST-EMPLOYMENT BENEFIT - Sum_6
POST-EMPLOYMENT BENEFIT - Summary of Assumptions to Determine Defined Benefit Obligations (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Defined benefit [member] | Defined benefit [member] | ||
Health Plan | ||
Discount rate (per year) | 10.03% | 8.64% |
Inflation rate (per year) | 3.50% | 3.25% |
Future pension increases | 3.50% | 3.25% |
Health plan [member] | Health Plan | ||
Health Plan | ||
Discount rate (per year) | 10.45% | 9.09% |
Inflation rate (per year) | 4.25% | 3.50% |
Future salary increases | 6.60% | |
Morbidity (aging factor) | 3% | 3% |
Future pension increases | 3% | 3% |
Overall mortality (segregated by gender) | AT-2000 | AT-2000 |
Disable mortality table | IAPB-1957 | IAPB-1957 |
Entry into disability (modified) | Modified UP-84 | Modified UP-84 |
Turnover | 0.60/(service time +1) | 0.60/(service time +1) |
POST-EMPLOYMENT BENEFIT - Sum_7
POST-EMPLOYMENT BENEFIT - Summary of Changes in Discount Rate (Detail) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
Health Plan | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Discount rate, increase | R$ 21878 |
Discount rate, decrease | 24,079 |
Defined benefit [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Discount rate, increase | (624,936) |
Discount rate, decrease | R$ 674988 |
POST-EMPLOYMENT BENEFIT - Sum_8
POST-EMPLOYMENT BENEFIT - Summary of Changes in Discount Rate (Detail) (Parenthetical) | Dec. 31, 2022 |
POST-EMPLOYMENT BENEFIT | |
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, 2022 | |
Regular [Member] | Performance Stocks [Member] | |
Vesting Conditions [Abstract] | |
Period of Continued Employment Under Service Conditions | 3 years |
Percentage of Achievement to Calculate Fair Value | 100% |
Regular [Member] | Performance Stocks [Member] | Bottom of range [member] | |
Vesting Conditions [Abstract] | |
Percentage of Achievement Of Specific Metrics | 0% |
Regular [Member] | Performance Stocks [Member] | Top of range [member] | |
Vesting Conditions [Abstract] | |
Percentage of Achievement Of Specific Metrics | 150% |
Partners [Member] | Performance Stocks [Member] | |
Vesting Conditions [Abstract] | |
Period of Continued Employment Under Service Conditions | 5 years |
Rumo S A [member] | Invest [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% |
Rumo S A [member] | Special [Member] | |
Vesting Conditions [Abstract] | |
Period of Continued Employment Under Service Conditions | 3 years |
Percentage of Achievement to Calculate Fair Value | 100% |
Rumo S A [member] | Special [Member] | Bottom of range [member] | |
Vesting Conditions [Abstract] | |
Percentage of Achievement Of Specific Metrics | 0% |
Rumo S A [member] | Special [Member] | Top of range [member] | |
Vesting Conditions [Abstract] | |
Percentage of Achievement Of Specific Metrics | 150% |
SHARE-BASED PAYMENT - Summary_2
SHARE-BASED PAYMENT - Summary of Share-based Payment Arrangements (Detail) | 12 Months Ended | ||
Dec. 31, 2022 shares BRL (R$) R$ / shares | Dec. 31, 2021 shares R$ / shares | Dec. 31, 2020 shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 21,711,666 | ||
Number of share options granted | 5,156,829 | 11,531,359 | |
Exercised /canceled /transferred | (3,835,158) | ||
Number Of Outstanding Share options | 17,876,508 | 15,592,511 | 10,536,790 |
Share grant programs [member] | 08/01/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Exercised /canceled /transferred | |||
Cosan S.A. [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Fair value as of grant date | R$ / shares | R$ 17.14 | R$ 23.2 | |
Cosan S.A. [member] | Share grant programs [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 8,882,137 | ||
Exercised /canceled /transferred | (1,455,180) | ||
Number Of Outstanding Share options | 7,426,957 | ||
Cosan S.A. [member] | Share grant programs [member] | 07/31/2018 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 07/31/2018 | ||
Company | Cosan S.A. | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 842,408 | ||
Exercised /canceled /transferred | (107,576) | ||
Number Of Outstanding Share options | 734,832 | ||
Fair value as of grant date | R$ / shares | R$ 9.65 | ||
Cosan S.A. [member] | Share grant programs [member] | 07/31/2019 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 7/31/2019 | ||
Company | Cosan S.A. | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 229,020 | ||
Exercised /canceled /transferred | (20,080) | ||
Number Of Outstanding Share options | 208,940 | ||
Fair value as of grant date | R$ / shares | R$ 12.46 | ||
Cosan S.A. [member] | Share grant programs [member] | 07/31/2020 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 07/31/2020 | ||
Company | Cosan S.A. | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 68,972 | ||
Exercised /canceled /transferred | (6,704) | ||
Number Of Outstanding Share options | 62,268 | ||
Fair value as of grant date | R$ / shares | R$ 20.93 | ||
Cosan S.A. [member] | Share grant programs [member] | 07/31/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 07/31/2021 | ||
Company | Cosan S.A. | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 424,839 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 424,839 | ||
Fair value as of grant date | R$ / shares | R$ 24.38 | ||
Cosan S.A. [member] | Share grant programs [member] | 07/31/2022 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 07/31/2022 | ||
Company | Cosan S.A. | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 846,506 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 846,506 | ||
Fair value as of grant date | R$ / shares | R$ 18.74 | ||
Cosan S.A. [member] | Share grant programs [member] | 09/10/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 09/10/2021 | ||
Company | Cosan S.A. | ||
Life expectancy (years) | 4 years | ||
Number of share options granted | 5,283,275 | ||
Exercised /canceled /transferred | (1,320,820) | ||
Number Of Outstanding Share options | 3,962,455 | ||
Fair value as of grant date | R$ / shares | R$ 22.24 | ||
Cosan S.A. [member] | Share grant programs [member] | 10/11/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 10/11/2021 | ||
Company | Cosan S.A. | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 809,944 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 809,944 | ||
Fair value as of grant date | R$ / shares | R$ 23.2 | ||
Cosan S.A. [member] | Share grant programs [member] | 11/22/2022 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 11/22/2022 | ||
Company | Cosan S.A. | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 377,173 | ||
Number Of Outstanding Share options | 377,173 | ||
Fair value as of grant date | R$ / shares | R$ 17.14 | ||
Comgas [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Fair value as of grant date | R$ / shares | R$ 29.2 | 78.58 | |
Comgas [member] | Share grant programs [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 83,683 | ||
Exercised /canceled /transferred | (14,794) | ||
Number Of Outstanding Share options | 68,889 | ||
Comgas [member] | Share grant programs [member] | 07/31/2019 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 7/31/2019 | ||
Company | Comgás | ||
Life expectancy (years) | 4 years | ||
Number of share options granted | 83,683 | ||
Exercised /canceled /transferred | (14,794) | ||
Number Of Outstanding Share options | 68,889 | ||
Fair value as of grant date | R$ / shares | R$ 79 | ||
Comgas [member] | Share grant programs [member] | 11/01/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 11/01/2021 | ||
Company | Comgás | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 195,414 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 195,414 | ||
Fair value as of grant date | R$ / shares | R$ 25.46 | ||
Compass Gas E Energia S A [Member] | Share grant programs [member] | 08/01/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 08/01/2021 | ||
Company | Compass Gás e Energia | ||
Life expectancy (years) | 2 years | ||
Number of share options granted | 173,316 | ||
Exercised /canceled /transferred | R$ | |||
Number Of Outstanding Share options | 173,316 | ||
Fair value as of grant date | R$ / shares | R$ 25.46 | ||
Compass Gas E Energia S A [Member] | Share grant programs [member] | 08/01/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 08/01/2021 | ||
Company | Compass Gás e Energia | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 30,205 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 30,205 | ||
Fair value as of grant date | R$ / shares | R$ 25.46 | ||
Compass Gas E Energia S A [Member] | Share grant programs [member] | 08/01/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 08/01/2022 | ||
Company | Compass Gás e Energia | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 826,392 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 826,392 | ||
Fair value as of grant date | R$ / shares | R$ 25.59 | ||
Compass Gas E Energia S A [Member] | Share grant programs [member] | 11/01/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 11/01/2021 | ||
Company | Compass Gás e Energia | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 1,672,626 | ||
Number Of Outstanding Share options | 1,672,626 | ||
Fair value as of grant date | R$ / shares | R$ 25.46 | ||
Compass Gas E Energia S A [Member] | Share grant programs [member] | 02/01/2022 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 02/01/2022 | ||
Company | Compass Gás e Energia | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 88,899 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 88,899 | ||
Fair value as of grant date | R$ / shares | R$ 25.59 | ||
Comgas and Compass Gas e Energia [member] | Share grant programs [member] | 11/01/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Exercised /canceled /transferred | |||
Rumo S.A. [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Fair value as of grant date | R$ / shares | R$ 20.56 | 18.2 | |
Rumo S.A. [member] | Share grant programs [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of share options granted | 8,609,680 | ||
Exercised /canceled /transferred | (2,365,184) | ||
Number Of Outstanding Share options | 6,244,496 | ||
Rumo S.A. [member] | Share grant programs [member] | 09/01/2017 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 09/01/2017 | ||
Company | Rumo S.A. | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 870,900 | ||
Exercised /canceled /transferred | (870,900) | ||
Number Of Outstanding Share options | |||
Fair value as of grant date | R$ / shares | R$ 10.42 | ||
Rumo S.A. [member] | Share grant programs [member] | 08/01/2018 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 08/01/2018 | ||
Company | Rumo S.A. | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 1,149,544 | ||
Exercised /canceled /transferred | (455,931) | ||
Number Of Outstanding Share options | 693,613 | ||
Fair value as of grant date | R$ / shares | R$ 13.94 | ||
Rumo S.A. [member] | Share grant programs [member] | 08/15/2019 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 08/15/2019 | ||
Company | Rumo S.A. | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 843,152 | ||
Exercised /canceled /transferred | (256,757) | ||
Number Of Outstanding Share options | 586,395 | ||
Fair value as of grant date | R$ / shares | R$ 22.17 | ||
Rumo S.A. [member] | Share grant programs [member] | 11/11/2020 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 11/11/2020 | ||
Company | Rumo S.A. | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 776,142 | ||
Exercised /canceled /transferred | (208,694) | ||
Number Of Outstanding Share options | 567,448 | ||
Fair value as of grant date | R$ / shares | R$ 20.01 | ||
Rumo S.A. [member] | Share grant programs [member] | 05/05/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 05/05/2021 | ||
Company | Rumo S.A. | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 1,481,000 | ||
Exercised /canceled /transferred | (421,875) | ||
Number Of Outstanding Share options | 1,059,125 | ||
Fair value as of grant date | R$ / shares | R$ 20.84 | ||
Rumo S.A. [member] | Share grant programs [member] | 09/15/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 09/15/2021 | ||
Company | Rumo S.A. | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 1,560,393 | ||
Exercised /canceled /transferred | (144,611) | ||
Number Of Outstanding Share options | 1,415,782 | ||
Fair value as of grant date | R$ / shares | R$ 18.19 | ||
Rumo S.A. [member] | Share grant programs [member] | 09/01/2022 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 09/01/2022 | ||
Company | Rumo S.A. | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 1,781,640 | ||
Exercised /canceled /transferred | (6,416) | ||
Number Of Outstanding Share options | 1,775,224 | ||
Fair value as of grant date | R$ / shares | R$ 20.36 | ||
Rumo S.A. [member] | Share grant programs [member] | 09/01/2022 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 09/01/2022 | ||
Company | Rumo S.A. | ||
Number of share options granted | 146,909 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 146,909 | ||
Fair value as of grant date | R$ / shares | R$ 20.36 | ||
Moove [member] | Share grant programs [member] | 07/31/2019 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 07/31/2019 | ||
Company | Moove | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 132,670 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 132,670 | ||
Fair value as of grant date | R$ / shares | R$ 50.79 | ||
Moove [member] | Share grant programs [member] | 07/31/2020 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 07/31/2020 | ||
Company | Moove | ||
Life expectancy (years) | 5 years | ||
Number of share options granted | 106,952 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 106,952 | ||
Fair value as of grant date | R$ / shares | R$ 61.89 | ||
Moove [member] | Share grant programs [member] | 07/31/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 07/31/2021 | ||
Company | Moove | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 80,729 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 80,729 | ||
Fair value as of grant date | R$ / shares | R$ 102.73 | ||
Moove [member] | Share grant programs [member] | 07/31/2022 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 07/31/2022 | ||
Company | Moove | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 77,967 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 77,967 | ||
Fair value as of grant date | R$ / shares | R$ 135.05 | ||
Moove [member] | Share grant programs [member] | 07/31/2022 - Special Program [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 07/31/2022 | ||
Company | Moove | ||
Life expectancy (years) | 4 years | ||
Number of share options granted | 615,362 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 615,362 | ||
Fair value as of grant date | R$ / shares | R$ 50.05 | ||
Compas Comercializacao [Member] | Share grant programs [member] | 08/01/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 08/01/2021 | ||
Company | Compass Comercialização | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 35,777 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 35,777 | ||
Fair value as of grant date | R$ / shares | R$ 25.46 | ||
Compas Comercializacao [Member] | Share grant programs [member] | 08/01/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 08/01/2022 | ||
Company | Compass Comercialização | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 30,441 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 30,441 | ||
Fair value as of grant date | R$ / shares | R$ 25.59 | ||
TRSP [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Fair value as of grant date | R$ / shares | R$ 29.2 | R$ 27.27 | |
TRSP [Member] | Share grant programs [member] | 08/01/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 08/01/2021 | ||
Company | TRSP | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 38,158 | ||
Number Of Outstanding Share options | 38,158 | ||
Fair value as of grant date | R$ / shares | R$ 25.46 | ||
TRSP [Member] | Share grant programs [member] | 08/01/2021 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Type of award / Grant date | 08/01/2022 | ||
Company | TRSP | ||
Life expectancy (years) | 3 years | ||
Number of share options granted | 31,258 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 31,258 | ||
Fair value as of grant date | R$ / shares | R$ 25.59 | ||
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 | 4,136,166 | ||
Exercised /canceled /transferred | |||
Number Of Outstanding Share options | 4,136,166 |
SHARE-BASED PAYMENT - Summary_3
SHARE-BASED PAYMENT - Summary of Number and Weighted-average Exercise Prices of Share Options (Detail) - shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Stock option programs, Beginning balance | 15,592,511 | 10,536,790 |
Stock option programs, Granted | 5,156,829 | 11,531,359 |
Number of share options, Exercised | (6,200,231) | |
Stock option programs, Cancelled | (275,407) | |
Exercised / Canceled | (2,872,832) | |
Stock option programs, Ending balance | 17,876,508 | 15,592,511 |
SHARE-BASED PAYMENT - Summary_4
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, 2022 | Dec. 31, 2021 | |
Cosan S.A. Industria e Comercio [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Market price on the grant date | R$ 17.14 | R$ 23.2 |
Interest rate | 6.82% | 6.82% |
Volatility | 36.50% | 36.50% |
Compass Gas e Energia [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Market price on the grant date | R$ 29.2 | R$ 27.27 |
Comgas [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Market price on the grant date | 29.2 | R$ 78.58 |
Interest rate | 6.82% | |
Volatility | 32.81% | |
TRSP [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Market price on the grant date | 29.2 | R$ 27.27 |
Rumo S.A. [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Market price on the grant date | R$ 20.56 | R$ 18.2 |
Interest rate | 11.53% | 6.94% |
Volatility | 27.70% | 26.51% |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expense recognized in profit or loss | R$ 99088 | R$ 84052 | R$ 293011 |
SHARE-BASED PAYMENT - Additiona
SHARE-BASED PAYMENT - Additional Information (Detail) | 12 Months Ended | |
Apr. 30, 2021 | Dec. 31, 2022 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Grace period for delivery of shares | 5 years | |
Vesting period of share-based payment arrangement | 5 years | |
Stock Split, Conversion Ratio | 0.25 | |
Bottom of range [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Grace period of continued employment under service conditions | 3 years | |
Vesting period of share-based payment arrangement | 3 years | |
Top of range [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Grace period of continued employment under service conditions | 5 years | |
Cash Settled Transactions [Member] | Moove Lubricants Limited [member] | Phantom shares | Top of range [member] | ||
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 | Apr. 18, 2023 | Dec. 31, 2022 | Apr. 29, 2022 |
Subsequent events | |||
Cash transferred | R$ 322255 | ||
Approval amount of increase in share capital | R$ 2036691 | ||
Amount of shares authorized | 9,000,000 | ||
Aggregate principal amount | R$ 6391961 | ||
Debentures issued | Debentures 5th issue - single series [member] | |||
Subsequent events | |||
Aggregate principal amount | R$ 1000000 |