2.2.0.7 false Note 2 - Summary of Significant Accounting Policies 00901 - Disclosure - Note 2 - Summary of Significant Accounting Policies true false false false 1 USD false false Dollars Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Notes to Financial Statements [Abstract] 0 pbra_NotesToFinancialStatementsAbstract pbra false na duration No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string No definition available. false 3 Note 2 - Summary of Significant Accounting Policies 1 us-gaap_SignificantAccountingPoliciesTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false false 1 false false false false 0 0 <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%; WIDTH: 100%"> 2. Accounting Policies 2.1 Recently Adopted Accounting Standards a) Transfers and Servicing (ASC 860), Accounting for Transfers of Financial Assets (ASU 2009-16) The FASB issued ASU 2009-16 in December 2009. This standard removes the concept of a Qualifying Special Purpose Entity (QSPE) and the exception for QSPE consolidation and clarifies the requirements for financial asset transfers eligible for sale accounting. ASU 2009-16 was adopted on January 1, 2010, and did not impact the Companys results of operations, financial position or liquidity. b) Consolidation (ASC 810), Improvements to Financial Reporting by Enterprises Involved With Variable Interest Entities (ASU 2009-17) The FASB issued ASU 2009-17 in December 2009. This standard became effective for the Company on January 1, 2010. ASU 2009-17 requires the enterprise to qualitatively assess if it is the primary beneficiary of a variable-interest entity (VIE), and, if so, the VIE must be consolidated. Additionally, this Statement requires continuous assessments of whether an enterprise is the primary beneficiary of a VIE. ASU 2009-17 was adopted on January 1, 2010, and did not impact the Companys results of operations, financial position or liquidity. 2.2 Change in accounting estimates The Company changed at the beginning of 2010, as a consequence of the periodic assessment of the expected useful lives of its assets, depreciation rates from thermoelectric power plants and facilities from Refining, Transporting and Marketing segment, based on reports prepared by independent appraisers. The changes were accounted for prospectively in accordance ASC 250 (Accounting changes and error corrections) and the Companys results of operations were increased in US$246, net of taxes, in the nine-month period ended September 30, 2010. </div> <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%; WIDTH: 100%"> The table below provides the previous and the current depreciation rates as a result of the assessment: <div align="left"> <table style="FONT-SIZE: 7pt; WIDTH: 100%; FONT-FAMILY: 'Arial'" cellspacing="0" border="0"> <tr> <td width="74%"></td> <td width="1%"></td> <td width="12%"></td> <td width="1%"></td> <td width="12%"></td> </tr> <tr valign="bottom"> <td align="left"> </td> <td> </td> <td style="TEXT-INDENT: 7px; BORDER-BOTTOM: #000000 1px solid" align="center" colspan="3">Estimated average useful life</td> </tr> <tr valign="bottom"> <td align="left"> </td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" align="center">Previous</td> <td> </td> <td style="BORDER-BOTTOM: #000000 1px solid" align="center">Current</td> </tr> <tr> <td colspan="5"> </td> </tr> <tr valign="bottom"> <td align="left">Refinery and other industrial facilities</td> <td> </td> <td align="center">10 years</td> <td> </td> <td align="center">20 years</td> </tr> <tr valign="bottom"> <td align="left">Pipelines</td> <td> </td> <td align="center">10 years</td> <td> </td> <td align="center">31 years</td> </tr> <tr valign="bottom"> <td align="left">Tanks</td> <td> </td> <td align="center">10 years</td> <td> </td> <td align="center">26 years</td> </tr> <tr valign="bottom"> <td align="left">Thermoelectric power plants</td> <td> </td> <td align="center">20 years</td> <td> </td> <td align="center">23 years</td> </tr> </table> </div>   </div> <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%; WIDTH: 100%"> 2.3 IFRS adoption for local purposes The Brazilian Corporation Law was amended in 2007 to permit Brazilian GAAP to converge with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB. The adoption of IFRS in Brazil is mandatory for the year ended December 31, 2010 and it is tax neutral in accordance with the current income tax legislation. The Company chose to present its financial statements for local purposes for the first time in accordance with IFRS in the first quarter of 2010. The Companys financial statements prepared in accordance with U.S. GAAP were not affected by the adoption of IFRS other than dividends and profit sharing payable to our employees, which are based on the net income calculated under IFRS. </div> 2. Accounting Policies 2.1 Recently Adopted Accounting Standards a) Transfers and Servicing (ASC 860), Accounting for Transfers of Financial Assets (ASU false false false us-types:textBlockItemType textblock This element may be used to describe all significant accounting policies of the reporting entity. 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