INCOME TAX AND SOCIAL CONTRIBUTION (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Income Tax And Social Contribution |
|
| Schedule of income tax and social contribution taxes |
| Schedule of income tax and social contribution taxes |
|
| Central America and the Caribbean |
from 15% to 27% |
| Latin America - South (i) |
from 10% to 35% |
| Canada |
26.5% |
| Luxembourg |
23,87% |
|
| Schedule of income taxes |
|
| Schedule of reconciliation between the weighted nominal tax rate and the effective tax rate |
| Schedule of reconciliation between the weighted nominal tax rate and the effective
tax rate |
|
|
|
| |
2025 |
2024 |
2023 |
| Profit before income tax |
19,421.7 |
19,487.3 |
15,035.9 |
| Adjustments to the taxable basis |
|
|
|
| Other non-taxable income |
(1,174.5) |
(497.3) |
(919.0) |
| Government grants related to taxes on sales |
(387.5) |
(118.1) |
(3,011.7) |
| Share of results of associates and joint ventures |
(105.7) |
(3.9) |
185.3 |
| Non-deductible expenses |
641.9 |
178.8 |
56.5 |
| Taxation on a universal basis and other adjustments related to foreign subsidiaries |
594.2 |
150.1 |
1,171.4 |
| Total adjustment on a taxable basis |
18,990.1 |
19,196.9 |
12,518.4 |
| Aggregated weighted nominal tax rate |
28.13% |
28.70% |
28.30% |
| Taxes payable – nominal rate |
(5,342.5) |
(5,509.1) |
(3,542.3) |
| Adjustments to tax expenses |
|
|
|
| Income tax incentives |
625.2 |
445.1 |
120.4 |
| Deductible interest on capital |
1,411.0 |
1,285.0 |
3,909.8 |
| Tax savings arising from the amortization of goodwill |
3.6 |
3.6 |
17.2 |
| Withholding income tax |
(201.3) |
(887.5) |
(489.1) |
| Recognition/(write-off) of deferred charges on tax losses |
(251.4) |
(74.5) |
100.9 |
| Effects of the application of IAS 29 (hyperinflation) |
(22.9) |
87.6 |
(382.3) |
| Other tax adjustments |
345.0 |
9.4 |
189.9 |
| Income tax and social contribution expense |
(3,433.3) |
(4,640.4) |
(75.5) |
| Effective tax rate |
17.68% |
23.81% |
0.50% |
|
| Schedule of deferred income tax |
| Schedule of deferred income tax |
|
|
|
|
|
|
|
| |
2025 |
|
2024 |
| |
Assets |
Liabilities |
Net |
|
Assets |
Liabilities |
Net |
| Investment securities |
6.8 |
- |
6.8 |
|
7.3 |
- |
7.3 |
| Intangibles |
- |
(1,836.5) |
(1,836.5) |
|
- |
(2,141.9) |
(2,141.9) |
| Employee benefits |
786.3 |
- |
786.3 |
|
971.6 |
- |
971.6 |
| Trade payables |
3,462.2 |
(2.1) |
3,460.1 |
|
3,880.2 |
- |
3,880.2 |
| Trade receivables |
8.5 |
(11.0) |
(2.5) |
|
35.1 |
(6.7) |
28.4 |
| Derivative financial instruments |
65.0 |
(171.7) |
(106.7) |
|
37.7 |
(246.1) |
(208.4) |
| Interest-bearing loans and borrowings |
7.6 |
- |
7.6 |
|
8.8 |
- |
8.8 |
| Inventories |
390.4 |
(120.2) |
270.2 |
|
307.0 |
(205.9) |
101.1 |
| Property, plant and equipment |
1,092.2 |
(1,951.5) |
(859.3) |
|
1,189.6 |
(2,459.0) |
(1,269.4) |
| Withholding tax on undistributed profits and royalties |
- |
(2,136.2) |
(2,136.2) |
|
- |
(2,255.0) |
(2,255.0) |
| Investments in associates and joint ventures |
- |
(383.7) |
(383.7) |
|
- |
(383.7) |
(383.7) |
| Tax losses carried forward (i) |
3,715.5 |
- |
3,715.5 |
|
3,849.7 |
- |
3,849.7 |
| Provisions |
1,606.4 |
(0.6) |
1,605.8 |
|
1,537.9 |
(4.5) |
1,533.4 |
| Impact of IFRS 16 (Leases) |
2.9 |
(78.1) |
(75.2) |
|
- |
(47.1) |
(47.1) |
| Exclusion of ICMS from PIS/COFINS calculation basis |
- |
(82.6) |
(82.6) |
|
- |
(121.6) |
(121.6) |
| Other items |
286.1 |
(163.6) |
122.5 |
|
289.3 |
(558.7) |
(269.4) |
| Gross deferred tax assets/(liabilities) |
11,429.9 |
(6,937.8) |
4,492.1 |
|
12,114.2 |
(8,430.2) |
3,684.0 |
| Netting by taxable entity |
(3,025.5) |
3,025.5 |
- |
|
(3,422.5) |
3,422.5 |
- |
| Net deferred tax assets/(liabilities) |
8,404.4 |
(3,912.3) |
4,492.1 |
|
8,691.7 |
(5,007.7) |
3,684.0 |
| (i) | | Historically, tax authorities have offset tax losses ex-officio in administrative proceedings
in which the Company and some of its subsidiaries are involved, resulting in an accumulated offset of R$314.8. This amount is included
in the tax credits recognized under the line of tax losses carried forward. |
|
| Schedule of deferred tax assets and liabilities |
| Schedule of deferred tax assets and liabilities |
|
|
|
| |
2025 |
| Deferred taxes not related to tax losses |
to be realized until 12 months |
to be realized after 12 months |
Total |
| |
|
|
|
| Investment securities |
- |
6.8 |
6.8 |
| Intangibles |
(1.4) |
(1,835.1) |
(1,836.5) |
| Employee benefits |
72.0 |
714.3 |
786.3 |
| Trade payables |
(242.4) |
3,702.5 |
3,460.1 |
| Trade receivables |
(1.9) |
(0.6) |
(2.5) |
| Derivative financial instruments |
(123.7) |
17.0 |
(106.7) |
| Interest-bearing loans and borrowings |
0.2 |
7.4 |
7.6 |
| Inventories |
378.5 |
(108.3) |
270.2 |
| Property, plant and equipment |
(2.7) |
(856.6) |
(859.3) |
| Withholding tax on undistributed profits and royalties |
- |
(2,136.2) |
(2,136.2) |
| Investments in associates and joint ventures |
- |
(383.7) |
(383.7) |
| Provisions |
794.1 |
811.7 |
1,605.8 |
| Impact of IFRS 16 (Leases) |
(16.4) |
(58.8) |
(75.2) |
| Exclusion of ICMS from PIS/COFINS calculation basis |
(82.6) |
- |
(82.6) |
| Other items |
11.0 |
111.5 |
122.5 |
| Total |
784.7 |
(8.1) |
776.6 |
|
| Schedule of deferred tax realization related to tax losses |
| Schedule of deferred tax realization related to tax losses |
|
| Deferred tax related to tax losses carried forward |
2025 |
| 2026 |
192.2 |
| 2027 |
175.9 |
| 2028 |
490.2 |
| 2029 to 2031 |
1,433.0 |
| 2032 onward |
1,424.2 |
| Total |
3,715.5 |
|
| Schedule of net change in deferred income tax and social contribution |
| Schedule of net change in deferred income tax
and social contribution |
|
| At December 31, 2023 |
4,651.2 |
| Recognition of actuarial gains/(losses) |
(23.2) |
| Cash flow hedge – gains/(losses) |
(423.1) |
| Gains/(losses) on cumulative translation adjustments [CTA] |
879.8 |
| Recognized in other comprehensive income |
433.5 |
| Recognized in the income statement |
(109.4) |
| Changes recognized directly in the balance sheet |
(1,291.3) |
| Recognized in deferred tax |
(889.1) |
| Effects of the application of IAS 29 (hyperinflation) |
(889.1) |
| Recognized in the other balance sheet group |
(402.2) |
| At December 31, 2024 |
3,684.0 |
| Recognition of actuarial gains/(losses) |
0.4 |
| Investment hedges – Obligations related to the acquisition of a non-controlling interest |
(53.6) |
| Cash flow hedge – gains/(losses) |
268.5 |
| Gains/(losses) on cumulative translation adjustments [CTA] |
312.8 |
| Recognized in other comprehensive income |
528.1 |
| Recognized in the income statement |
571.1 |
| Changes recognized directly in the balance sheet |
(291.1) |
| Recognized in deferred tax |
(335.7) |
| Effects of the application of IAS 29 (hyperinflation) |
(335.7) |
| Recognized in the other balance sheet group |
44.6 |
| At December 31, 2025 |
4,492.1 |
|