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Goodwill and Intangible assets
 12 Months Ended
Dec. 31, 2021
Text Block [Abstract]  
Goodwill and Intangible assets
Note 14 - Goodwill and Intangible assets
 
          
Intangible assets
        
    
Goodwill and

intangible from

acquisition
    
Association for the

promotion and offer

of financial

products and

services
    
Software Acquired
    
Internally developed

software
    
Other intangible

assets
(1)
   
Total
  
Annual amortization rates
              8 %      20 %      20 %      10% to 20%          
Cost
                                                 
Balance at 12/31/2020
   
 
13,959
 
  
 
2,822
 
  
 
6,484
 
  
 
7,664
 
  
 
3,274
 
  
 
34,203
 
Acquisitions
(4)
     —         5       738       3,511       3,413       7,667  
Rescissions / disposals
      (10 )      —         (65 )      (13 )      (236 )      (324 ) 
Exchange variation
      (918 )      (155 )      (238 )      —         (20 )      (1,331 ) 
Other
(3,5)
     —         (15 )      (443 )      (5 )      —         (463 ) 
Balance at 12/31/2021
   
 
13,031
 
  
 
2,657
 
  
 
6,476
 
  
 
11,157
 
  
 
6,431
 
  
 
39,752
 
Amortization
                                                 
Balance at 12/31/2020
   
 
—  
 
  
 
(1,347
) 
  
 
(3,680
) 
  
 
(3,288
) 
  
 
(1,410
) 
  
 
(9,725
) 
Amortization expense
(2)
     —         (109 )      (819 )      (942 )      (791 )      (2,661 ) 
Rescissions / disposals
      —         —         28       10       214       252  
Exchange variation
      —         68       125       —         3       196  
Other
(3,5)
      —         14       197       —         —         211  
Balance at 12/31/2021
   
 
—  
 
  
 
(1,374
) 
  
 
(4,149
) 
  
 
(4,220
) 
  
 
(1,984
) 
  
 
(11,727
) 
Impairment (Note 2.4h)
                                                 
Balance at 12/31/2020
   
 
(5,772
) 
  
 
(789
) 
  
 
(204
) 
  
 
(383
) 
  
 
—  
 
  
 
(7,148
) 
Increase
      —         —         —         (440 )      —         (440 ) 
Disposals
      —         —         33       —         —         33  
Exchange variation
      563       77       —         —         —         640  
Balance at 12/31/2021
   
 
(5,209
) 
  
 
(712
) 
  
 
(171
) 
  
 
(823
) 
  
 
—  
 
  
 
(6,915
) 
Book value
                                                 
Balance at 12/31/2021
   
 
7,822
 
  
 
571
 
  
 
2,156
 
  
 
6,114
 
  
 
4,447
 
  
 
21,110
 
 
(1)
Includes amounts paid for acquisition of rights to provide services of payment of salaries, proceeds, retirement and pension benefits and similar benefits.
(2)
Amortization expenses related to the rights for acquisition of payrolls and associations, in the amount of R$ (860) (R$ (594) from 01/01 to 12/31/2020) are disclosed in the General and administrative expenses (Note 23).
(3)
Includes the total amount of R$ 34 related to the hyperinflationary adjustment for Argentina.
(4)
Other intangible assets: includes the effect of R$ 2,422 related to acquisition on 07/16/2021 of payroll management of the Government of the State of Minas Gerais.
(5)
Includes reclassifications of Software licenses necessary to put data processing systems into use, in the net amount of R$ 327.
 
          
Intangible assets
        
    
Goodwill and

intangible from

acquisition
    
Association for the

promotion and offer

of financial

products and

services
    
Software Acquired
    
Internally developed

software
    
Other intangible

assets
(1)
   
Total
  
Annual amortization rates
              8 %      20 %      20 %      10% to 20%          
Cost
                                                 
Balance at 12/31/2019
   
 
11,158
 
  
 
2,518
 
  
 
5,899
 
  
 
5,716
 
  
 
2,971
 
  
 
28,262
 
Acquisitions
      287       —         795       1,968       541       3,591  
Rescissions / disposals
      —         —         (1,121 )      (20 )      (137 )      (1,278 ) 
Exchange variation
      2,514       320       901       —         232       3,967  
Other
(3)
     —         (16 )      10       —         (333 )      (339 ) 
Balance at 12/31/2020
   
 
13,959
 
  
 
2,822
 
  
 
6,484
 
  
 
7,664
 
  
 
3,274
 
  
 
34,203
 
Amortization
                                                 
Balance at 12/31/2019
   
 
—  
 
  
 
(1,057
) 
  
 
(3,206
) 
  
 
(2,497
) 
  
 
(1,242
) 
  
 
(8,002
) 
Amortization expense
(2)
     —         (174 )      (825 )      (779 )      (457 )      (2,235 ) 
Rescissions / disposals
      —         —         834       —         136       970  
Exchange variation
      —         (126 )      (451 )      —         (174 )      (751 ) 
Other
(3)
     —         10       (32 )      (12 )      327       293  
Balance at 12/31/2020
   
 
—  
 
  
 
(1,347
) 
  
 
(3,680
) 
  
 
(3,288
) 
  
 
(1,410
) 
  
 
(9,725
) 
Impairment (Note 2.4h)
                                                 
Balance at 12/31/2019
   
 
—  
 
  
 
—  
 
  
 
(171
) 
  
 
(370
) 
  
 
—  
 
  
 
(541
) 
Incresase
      (5,772 )      (789 )      (33 )      (13 )      —         (6,607 ) 
Disposals
      —         —         —         —         —         —    
Balance at 12/31/2020
   
 
(5,772
) 
  
 
(789
) 
  
 
(204
) 
  
 
(383
) 
  
 
—  
 
  
 
(7,148
) 
Book value
                                                 
Balance at 12/31/2020
   
 
8,187
 
  
 
686
 
  
 
2,600
 
  
 
3,993
 
  
 
1,864
 
  
 
17,330
 
 
(1)
Includes amounts paid for acquisition of rights to provide services of payment of salaries, proceeds, retirement and pension benefits and similar benefits.
(2)
Amortization expenses related to the rights for acquisition of payrolls and associations, in the amount of R$ (594) (R$ (519) from 01/01 to 12/31/2019) are disclosed in the General and administrative expenses (Note 23).
(3)
Includes the total amount of R$ 17 related to the hyperinflationary adjustment for Argentina.
Goodwill and Intangible Assets from Acquisition are mainly represented by Itaú CorpBanca’s goodwill in the amount of R$ 3,375 (R$ 3,606 at 12/31/2020).
ITAÚ UNIBANCO HOLDING recognized at June 30, 2020, adjustments to the recoverable amount of goodwill and intangible assets related to Itaú CorpBanca, in the amounts of R$ 5,772 and R$ 789.
The value in use of the Cash Generating Unit (CGU) in which Itáu CorpBanca is allocated was considered and cash flows were based on the result of June 2020 and internal projects of results until 2025.
The adjustment to recoverable amount results from economic conditions at June 30, 2020, of Itaú CorpBanca’s market capitalization, discount rates applicable and other changes in variables triggered by the current uncertain macroeconomic condition that, when combined, resulted in a CGU amount lower than its book value. The discount rates used for the impairment test were 10.4% for operations in Chile and 12.3% for operations in Colombia, determined by the cost of capital calculated based on CAPM model. Long-term interest rates considered were 5.2% p.a. and 6.5% p.a. for Chile and Colombia, respectively. The most sensitive assumptions are cost of capital and perpetuity growth rate.
Impairment was recognized in the Consolidated Statement of Income under General and administrative expenses (Note 23).