FINANCIAL INCOME (Tables)

12 Months Ended

Dec. 31, 2019

FINANCIAL INCOME

Schedule of financial income

	2019	2018	2017
Income from short-term investments	87,241	68,721	85,153
Interest income and other financial income	135,972	135,279	141,462
Financial Income	223,213	204,000	226,615
Interest on debt	(938,120)	(1,177,686)	(1,323,448)
Monetary variation and other financial expenses	(531,634)	(401,655)	(402,836)
Financial Expenses	(1,469,754)	(1,579,341)	(1,726,284)
Bonds repurchases	—	(223,925)	—
Exchange Variation, net	(247,555)	(322,621)	(4,057)
Reversal of interest on provision for tax liabilities, net	—	—	369,819
Gains and losses on derivative financial instruments, net	(15,118)	32,092	(9,441)
Financial result, net	(1,509,214)	(1,889,795)	(1,143,348)