| Disclosure of inventories [text block] |
12 INVENTORIES | | | | | | | | | | | | | 03/31/2026 | | 12/31/2025 | | Finished goods | | | | | Pulp | | | | Domestic | 841,688 | | | 644,881 | | Foreign | 1,673,689 | | | 1,713,394 | | | Paper | | | | Domestic | 600,580 | | | 587,216 | | Foreign | 539,207 | | | 507,999 | | | Work in process | 192,972 | | | 113,212 | | | Raw materials | | | | Wood | 2,492,030 | | | 2,267,720 | | Operating supplies and packaging | 1,006,771 | | | 1,037,696 | | | Spare parts and other | 1,493,126 | | | 1,491,820 | | | | | | | Estimated losses | (198,646) | | | (208,091) | |
| 8,641,417 | | | 8,155,847 | |
12.1 Roll-forward of estimated losses | | | | | | | | | | | | | 03/31/2026 | | 12/31/2025 | | Opening balance | (208,091) | | | (97,934) | | Additions | (15,580) | | | (150,133) | | Reversals | 13,431 | | | 8,498 | | Write-offs | 11,594 | | | 31,478 | | | Closing balance | (198,646) | | | (208,091) | |
On March 31, 2026 and 2025, there were no inventory items pledged as collateral.
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