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Consolidated statements of cash flows - BRL (R$)
R$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Income before income taxes R$ 429,582 R$ 428,433 R$ 273,462
Adjustments to reconcile income before income taxes      
Depreciation and amortization 289,511 206,220 154,220
Write-off of property and equipment 1,910 1,697 1,604
Write-off of intangible assets 413 25 2,374
Allowance for expected credit losses 74,552 42,708 47,819
Share-based compensation expense 31,535 31,274 43,377
Net foreign exchange differences 681 852 17,973
Accrued interest 285,447 200,081 108,437
Accrued lease interest 100,849 88,571 67,212
Share of income of associate (9,495) (12,184) (11,797)
Provision (reversal) for legal proceedings (56,825) (766) 10,664
Changes in assets and liabilities      
Trade receivables (131,336) (129,165) (79,665)
Inventories 10,947 (363) (3,720)
Recoverable taxes (15,353) (2,230) (2,327)
Other assets 77,480 (1,048) (19,425)
Trade payables 24,500 9,975 14,479
Taxes payable 3,278 (3,915) (14,902)
Advances from customers (17,892) 8,387 36,009
Labor and social obligations 31,525 21,247 23,449
Other liabilities (42,542) (12,811) (2,693)
Total 1,088,767 876,988 666,550
Income taxes paid (45,144) (33,089) (35,683)
Net cash flows from operating activities 1,043,623 843,899 630,867
Investing activities      
Acquisition of property and equipment (118,435) (168,132) (125,869)
Acquisition of intangibles assets (126,993) (128,892) (150,931)
Dividends received 9,900 6,754 11,770
Acquisition of non-controlling interest (21,000)
Acquisition of subsidiaries, net of cash acquired (815,005) (277,649) (1,005,017)
Payments of interest from acquisition of subsidiaries and intangibles (71,518) (23,550) (12,108)
Restricted cash 8,103
Net cash flows used in investing activities (1,143,051) (591,469) (1,274,052)
Financing activities      
Payments of principal of loans and financing (112,630) (1,791) (107,766)
Payments of interest of loans and financing (175,889) (116,587) (50,310)
Proceeds from loans and financing 5,288 496,885 809,539
Payments of lease liabilities (31,473) (28,511) (20,075)
Payments of interest of lease liabilities (103,911) (85,001) (67,676)
Treasury shares buy back (12,369) (152,317) (213,722)
Proceeds from exercise of stock options 9,791 33,336
Dividends paid to non-controlling shareholders (18,750) (19,736) (18,648)
Net cash flows generated (used) in financing activities (439,943) 92,942 364,678
Net foreign exchange differences (681) (852) (17,973)
Net increase (decrease) in cash and cash equivalents (540,052) 344,520 (296,480)
Cash and cash equivalents at the beginning of the year 1,093,082 748,562 1,045,042
Cash and cash equivalents at the end of the year R$ 553,030 R$ 1,093,082 R$ 748,562