| Balance at January 1, 2021 | Statement of income | Exchange variation | Other Adjustments (1) | Balance at December 31, 2021 | ||||||||||||||||
| Tax losses and negative basis of social contribution | 361,006 | 90,950 | (20,455) | — | 431,501 | |||||||||||||||
| Expected credit losses on trade accounts receivable | 21,418 | 6,424 | (1,583) | — | 26,259 | |||||||||||||||
| Provisions for contingencies | 96,790 | 7,555 | (6,839) | — | 97,506 | |||||||||||||||
| Present value adjustment | 5,680 | 2,529 | (44) | — | 8,165 | |||||||||||||||
| Tax credits | 9,817 | 3,603 | — | 18 | 13,438 | |||||||||||||||
| Biological assets | 11,511 | (3,695) | (1) | — | 7,815 | |||||||||||||||
| Labor accident accruals | 40,262 | (1,058) | (1) | — | 39,203 | |||||||||||||||
| Pension plan | 33,686 | (2,673) | (12) | (9,324) | 21,677 | |||||||||||||||
| Trade accounts payable accrual | 181,471 | 75,552 | — | — | 257,023 | |||||||||||||||
| Share-based payments | 253 | (246) | (7) | — | — | |||||||||||||||
| Non-deductible interest | 481 | 5,411 | 2 | — | 5,894 | |||||||||||||||
| Right of use assets | 7,809 | (1,391) | (346) | — | 6,072 | |||||||||||||||
| Other temporary differences - assets | 98,252 | (40,107) | (4,706) | — | 53,439 | |||||||||||||||
| Goodwill amortization | (697,073) | (52,388) | 43,816 | — | (705,645) | |||||||||||||||
| Present value adjustment - Trade accounts payable | 304 | (6,497) | 178 | — | (6,015) | |||||||||||||||
| Business combinations | (323,680) | 18,301 | 9,158 | (177,194) | (473,415) | |||||||||||||||
| Customer return accruals | (32,679) | (737) | — | — | (33,416) | |||||||||||||||
| Inventory valuation | (97,093) | 120,673 | — | 16 | 23,596 | |||||||||||||||
| Hedge operations (3) | 279 | (16,565) | 3,895 | (14,611) | (27,002) | |||||||||||||||
| Realization of other reserves | (116,908) | 2,846 | 7,942 | — | (106,120) | |||||||||||||||
| Accelerated depreciation and amortization | (417,396) | (75,196) | 22 | — | (492,570) | |||||||||||||||
| Other temporary differences - liabilities | (68,697) | 25,222 | 14,522 | (175) | (29,128) | |||||||||||||||
| Deferred taxes, net | (884,507) | 158,513 | 45,541 | (201,270) | (881,723) | |||||||||||||||
| December 31, 2023 | December 31, 2022 | |||||||
| Labor | 108,004 | 99,270 | ||||||
| Civil | 270,989 | 222,800 | ||||||
| Tax and Social Security | 134,400 | 105,420 | ||||||
| Total | 513,393 | 427,490 | ||||||
| Balance at January 1, 2022 | Additions, reversals and changes in estimates | Payments | Indexation | Exchange rate variation | Balance at December 31, 2022 | |||||||||||||||||||
| Labor | 96,551 | 47,771 | (61,399) | 9,622 | 6,725 | 99,270 | ||||||||||||||||||
| Civil | 281,135 | 106,831 | (172,299) | 4,329 | 2,804 | 222,800 | ||||||||||||||||||
| Tax and social security | 100,379 | (9,383) | (3,018) | 10,540 | 6,902 | 105,420 | ||||||||||||||||||
| Total | 478,065 | 145,219 | (236,716) | 24,491 | 16,431 | 427,490 | ||||||||||||||||||
| 2023 | 2022 | 2021 | ||||||||||
| Operating profit | 1,084,140 | 4,783,391 | 5,984,069 | |||||||||
| Depreciation and amortization | 2,149,066 | 1,907,923 | 1,673,216 | |||||||||
| Antitrust agreements (1) | 102,500 | 101,447 | 792,700 | |||||||||
| Donations and social programs(2) | 18,166 | 23,942 | 27,311 | |||||||||
| J&F Leniency expenses refund (3) | — | (93,786) | — | |||||||||
| Impairment of assets (4) | 26,268 | 17,396 | — | |||||||||
| Restructuring(5) | 53,275 | — | — | |||||||||
| Other operating income (expense), net (6) | 24,470 | (18,308) | 9,120 | |||||||||
| Elimination | 2,583 | 2,182 | 2,033 | |||||||||
| Total Adjusted EBITDA for operating segments | 3,460,468 | 6,724,187 | 8,488,449 | |||||||||
| For the year ended December 31, | ||||||||||||
| 2023 | 2022 | 2021 | ||||||||||
| (in millions of US$) | ||||||||||||
| Net income (loss) | (131.7) | 3,143.5 | 3,818.6 | |||||||||
| Income tax and social contribution taxes – current and deferred | (128.0) | 410.0 | 1,244.1 | |||||||||
| Net finance expense | 1,353.4 | 1,241.7 | 938.5 | |||||||||
| Depreciation and amortization expenses | 2,149.1 | 1,907.9 | 1,673.2 | |||||||||
| Share of profit of equity-accounted investees, net of tax | (9.5) | (11.8) | (17.2) | |||||||||
| Antitrust agreements expenses (a) | 102.5 | 101.4 | 792.6 | |||||||||
| Donations and social programs expenses (b) | 18.2 | 23.9 | 27.3 | |||||||||
| J&F Leniency expenses refund (c) | — | (93.8) | — | |||||||||
| Impairment of assets (d) | 26.3 | 17.4 | — | |||||||||
| Restructuring expenses (e) | 53.3 | — | — | |||||||||
| Other operating income (expense), net (f) | 24.5 | (18.3) | 9.1 | |||||||||
| Adjusted EBITDA | 3,457.9 | 6,722.0 | 8,486.4 | |||||||||
| Adjusted EBITDA by segment: | ||||||||||||
| Brazil | 469.3 | 468.9 | 431.9 | |||||||||
| Seara | 364.5 | 896.7 | 714.7 | |||||||||
| Beef North America | 114.2 | 2,081.7 | 4,511.9 | |||||||||
| Pork USA | 526.9 | 756.3 | 786.0 | |||||||||
| Pilgrim’s Pride | 1,536.0 | 2,084.6 | 1,691.7 | |||||||||
| Australia | 454.7 | 443.9 | 327.6 | |||||||||
| Others | (5.2) | (7.9) | 24.7 | |||||||||
| Total reportable segments | 3,460.4 | 6,724.2 | 8,488.5 | |||||||||
| Eliminations (g) | (2.6) | (2.2) | (2.0) | |||||||||
| Adjusted EBITDA | 3,457.8 | 6,722.0 | 8,486.5 | |||||||||
