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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - BRL (R$)
R$ in Thousands
Total Parent company's interest
Capital
Capital Reserve
Treasury Stocks
Legal reserve
Tax Incentives Reserve
Investments and working capital reserve
Net income
Transactions with non-controlling interests without change of control
Gains and losses on net investment hedge
Gains and losses on financial instruments
Cumulative translation adjustment
Pension Plan
Long-term incentive plan
Non-controlling interests
Total
Balance at beginning of year at Dec. 31, 2022 R$ 46,116,194 R$ 19,249,181 R$ 11,597 R$ (179,995) R$ 2,210,531 R$ 1,775,498 R$ 18,186,532   R$ (2,904,670) R$ (9,079,070) R$ (12,734) R$ 16,725,542 R$ 80,117 R$ 53,665 R$ 181,999 R$ 46,298,193
Net income for the year 7,501,565             R$ 7,501,565             35,418 7,536,983
Other comprehensive income (loss) recognized in the year (1,875,869)                 247,924 783 (2,221,071) 96,495   (7,795) (1,883,664)
Total comprehensive income (loss) recognized in the year 5,625,696             7,501,565   247,924 783 (2,221,071) 96,495   27,623 5,653,319
Increase in capital through capitalization of Retained earnings   966,162         (966,162)                  
Long-term incentive plan cost recognized in the year 80,390                         80,390 47 80,437
Long-term incentive plan exercised during the year 36,333     29,813     6,520               17 36,350
Effect of interest changes in subsidiaries                             (9,590) (9,590)
Dividend in excess of the minimum statutory undistributed (333,151)           (333,151)                 (333,151)
Destination of net income proposed to the shareholders                                
Legal reserve         318,142     (318,142)                
Tax incentives reserve           1,138,728   (1,138,728)                
Investments and working capital reserve             3,403,240 (3,403,240)                
Dividend - adjustment in excess of the minimum statutory undistributed             174,952 (174,952)                
Dividends/interest on capital (2,466,503)             (2,466,503)             (20,192) (2,486,695)
Balance at end of year at Dec. 31, 2023 49,058,959 20,215,343 11,597 (150,182) 2,528,673 2,914,226 20,471,931   (2,904,670) (8,831,146) (11,951) 14,504,471 176,612 134,055 179,904 49,238,863
Net income for the year 4,566,317             4,566,317             32,745 4,599,062
Other comprehensive income (loss) recognized in the year 7,030,074                 (558,529) (783) 7,550,628 38,758   43,758 7,073,832
Total comprehensive income (loss) recognized in the year 11,596,391             4,566,317   (558,529) (783) 7,550,628 38,758   76,503 11,672,894
Increase in capital through capitalization of Retained earnings   4,057,882         (4,057,882)                  
Effects of the share buyback program (1,194,726)     (1,194,726)                       (1,194,726)
Long-term incentive plan cost recognized in the year 62,553                         62,553 69 62,622
Long-term incentive plan exercised during the year 61,450     62,005     (555)               (105) 61,345
Effect of interest changes in subsidiaries                             (4,306) (4,306)
Cancellation of treasury stocks       548,625     (548,625)                  
Dividend in excess of the minimum statutory undistributed (175,233)           (175,233)                 (175,233)
Destination of net income proposed to the shareholders                                
Legal reserve         228,316     (228,316)                
Investments and working capital reserve             2,673,921 (2,673,921)                
Dividend - adjustment in excess of the minimum statutory undistributed             203,445 (203,445)                
Dividends/interest on capital (1,460,635)             (1,460,635)             (27,038) (1,487,673)
Balance at end of year at Dec. 31, 2024 57,948,759 24,273,225 11,597 (734,278) 2,756,989 2,914,226 18,567,002   (2,904,670) (9,389,675) (12,734) 22,055,099 215,370 196,608 225,027 58,173,786
Net income for the year 1,387,020             1,387,020             31,418 1,418,438
Other comprehensive income (loss) recognized in the year (3,454,067)                 246,696   (3,752,603) 51,840   (4,858) (3,458,925)
Total comprehensive income (loss) recognized in the year (2,067,047)             1,387,020   246,696   (3,752,603) 51,840   26,560 (2,040,487)
Effects of the share buyback program (1,169,314)     (1,169,314)                       (1,169,314)
Long-term incentive plan cost recognized in the year 60,206                         60,206 (7) 60,199
Long-term incentive plan exercised during the year 51,019     53,278     (2,259)               10 51,029
Effect of interest changes in subsidiaries                             (2,772) (2,772)
Cancellation of treasury stocks       1,330,247     (1,330,247)                  
Dividend in excess of the minimum statutory undistributed (203,272)           (203,272)                 (203,272)
Destination of net income proposed to the shareholders                                
Legal reserve         69,351     (69,351)                
Investments and working capital reserve             85,197 (85,197)                
Dividend - adjustment in excess of the minimum statutory undistributed             197,514 (197,514)                
Dividends/interest on capital (1,034,958)             R$ (1,034,958)             (35,722) (1,070,680)
Balance at end of year at Dec. 31, 2025 R$ 53,585,393 R$ 24,273,225 R$ 11,597 R$ (520,067) R$ 2,826,340 R$ 2,914,226 R$ 17,313,935   R$ (2,904,670) R$ (9,142,979) R$ (12,734) R$ 18,302,496 R$ 267,210 R$ 256,814 R$ 213,096 R$ 53,798,489