Cover
Cover | 12 Months Ended |
Dec. 31, 2022 shares | |
Entity Addresses [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Document Period End Date | Dec. 31, 2022 |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2022 |
Current Fiscal Year End Date | --12-31 |
Entity File Number | 001-14862 |
Entity Registrant Name | BRASKEM SA |
Entity Central Index Key | 0001071438 |
Entity Incorporation, State or Country Code | D5 |
Entity Address, Address Line One | Rua Lemos Monteiro, 120 – 24° andar |
Entity Address, City or Town | São Paulo |
Entity Address, Country | BR |
Entity Address, Postal Zip Code | 05501-050 |
Title of 12(b) Security | Preferred Shares, Class A, without par value per share, each represented by American Depositary Shares |
Trading Symbol | BAK |
Security Exchange Name | NYSE |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 451,668,652 |
Contact Personnel Fax Number | 55 11 3576-9532 |
ICFR Auditor Attestation Flag | true |
Auditor Firm ID | 1124 |
Auditor Name | KPMG Auditores Independentes Ltda. |
Auditor Location | São Paulo |
Class A Preference Shares [Member] | |
Entity Addresses [Line Items] | |
Entity Common Stock, Shares Outstanding | 345,060,392 |
Class B Preference Shares [Member] | |
Entity Addresses [Line Items] | |
Entity Common Stock, Shares Outstanding | 478,790 |
Business Contact [Member] | |
Entity Addresses [Line Items] | |
Entity Address, Address Line One | Rua Lemos Monteiro, 120 – 24° andar |
Entity Address, City or Town | São Paulo |
Entity Address, Country | BR |
Entity Address, Postal Zip Code | 05501-050 |
City Area Code | 55 |
Local Phone Number | 11 3576-9000 |
Contact Personnel Name | Pedro van Langendonck Teixeira de Freitas |
Statement of consolidated finan
Statement of consolidated financial position - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets | ||
Cash and cash equivalents | R$ 12466474 | R$ 8680686 |
Financial investments | 2,295,497 | 3,492,710 |
Trade accounts receivable | 3,231,934 | 7,153,565 |
Inventories | 14,030,064 | 16,335,101 |
Taxes recoverable | 1,156,355 | 1,428,658 |
Recoverable income taxes | 392,062 | 1,189,812 |
Derivatives | 157,906 | 33,816 |
Other receivables | 727,364 | 979,097 |
Current Assets | 34,457,656 | 39,293,445 |
Non-current assets | ||
Financial investments | 17,134 | 16,845 |
Trade accounts receivable | 13,395 | |
Taxes recoverable | 1,617,669 | 1,252,058 |
Recoverable income taxes | 252,995 | 230,069 |
Deferred tax assets | 6,358,601 | 8,257,252 |
Judicial deposits | 215,274 | 194,212 |
Derivatives | 71,544 | 51 |
Other receivables | 170,536 | 365,652 |
Investments | 149,023 | 58,923 |
Property, plant and equipment | 37,763,295 | 37,225,130 |
Intangible assets | 3,022,144 | 2,877,299 |
Right of use of assets | 3,952,987 | 2,780,037 |
Non-Current Assets | 53,591,202 | 53,270,923 |
Total assets | 88,048,858 | 92,564,368 |
Current liabilities | ||
Trade payables | 12,246,782 | 12,053,266 |
Borrowings | 1,254,550 | 1,343,494 |
Braskem Idesa borrowings | 868,635 | 86,765 |
Debentures | 127,801 | 59,088 |
Derivatives | 195,169 | 256,131 |
Payroll and related charges | 827,826 | 1,170,346 |
Taxes payable | 491,051 | 1,012,116 |
Income taxes payable | 381,117 | 1,672,844 |
Leniency agreement | 392,486 | 353,385 |
Sundry provisions | 530,814 | 465,051 |
Provision - geological event in Alagoas | 4,247,609 | 4,378,071 |
Lease | 1,039,706 | 675,366 |
Other payables | 1,581,701 | 1,667,600 |
Current Liabilities | 24,185,247 | 25,193,523 |
Non-current liabilities | ||
Trade payables | 3,069 | 111,464 |
Borrowings | 31,310,710 | 33,553,766 |
Braskem Idesa borrowings | 10,501,683 | 12,224,770 |
Debentures | 3,023,674 | 137,830 |
Derivatives | 81,917 | 362,915 |
Taxes payable | 298,026 | 260,497 |
Loan from non-controlling shareholders of Braskem Idesa | 2,498,093 | 3,646,538 |
Deferred tax liabilities | 1,153,481 | 1,407,434 |
Post-employment benefits | 493,743 | 487,697 |
Legal provisions | 1,171,498 | 1,153,830 |
Leniency agreement | 510,654 | 769,911 |
Sundry provisions | 846,133 | 824,212 |
Provision - geological event in Alagoas | 2,378,949 | 3,283,188 |
Lease | 3,200,824 | 2,481,048 |
Other payables | 282,940 | 461,917 |
Non-Current Liabilities | 57,755,394 | 61,167,017 |
Shareholders' equity | ||
Capital | 8,043,222 | 8,043,222 |
Capital reserve | 6,175 | 3,473 |
Profit reserves | 1,825,616 | 3,483,935 |
Additional paid in capital | (488,388) | (488,388) |
Long-term incentive plans | 39,413 | 31,932 |
Other comprehensive income | (2,076,066) | (3,170,158) |
Treasury shares | (28,173) | (38,197) |
Total attributable to the Company's shareholders | 7,321,799 | 7,865,819 |
Non-controlling interest in subsidiaries | (1,213,582) | (1,661,991) |
Shareholders’ Equity | 6,108,217 | 6,203,828 |
Total liabilities and shareholders' equity | R$ 88048858 | R$ 92564368 |
Statement of consolidated profi
Statement of consolidated profit or loss - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 96519284 | R$ 105625201 | R$ 58543494 |
Cost of products sold | (85,160,548) | (73,568,231) | (47,331,414) |
Gross profit | 11,358,736 | 32,056,970 | 11,212,080 |
Income (expenses) | |||
Selling and distribution | (2,108,417) | (2,055,640) | (1,852,055) |
Loss for impairment of trade accounts receivable and others from clients | (38,426) | (8,914) | (55,252) |
General and administrative | (2,763,983) | (2,522,127) | (1,918,747) |
Research and development | (374,493) | (296,583) | (250,648) |
Results from equity-accounted investees | 34,848 | 4,644 | (19,398) |
Other income | 507,333 | 1,534,487 | 750,749 |
Other expenses | (2,343,525) | (2,669,290) | (7,938,621) |
Profit (loss) before net financial expenses and taxes | 4,272,073 | 26,043,547 | (71,892) |
Financial results | |||
Financial expenses | (5,662,693) | (5,907,155) | (4,913,365) |
Financial income | 2,010,134 | 1,827,438 | 600,184 |
Exchange rate variations, net | (572,170) | (4,002,807) | (5,298,711) |
Finance income (cost) | (4,224,729) | (8,082,524) | (9,611,892) |
Profit (loss) before income tax | 47,344 | 17,961,023 | (9,683,784) |
Income taxes | (867,735) | (3,999,403) | 2,668,478 |
(Loss) net profit for the year | (820,391) | 13,961,620 | (7,015,306) |
Attributable to: | |||
Company's shareholders | (335,677) | 13,984,946 | (6,691,720) |
Non-controlling interest in subsidiaries | R$ 484714 | R$ 23326 | R$ 323586 |
Common shares member | |||
Earnings (loss) per share - R$ | |||
Earnings (loss) per share - basic | R$ 0.42 | R$ 17.57 | R$ 8.41 |
Earnings (loss) per share - diluted | (0.42) | 17.57 | (8.41) |
Class A Preferred Shares [Member] | |||
Earnings (loss) per share - R$ | |||
Earnings (loss) per share - basic | (0.42) | 17.57 | (8.41) |
Earnings (loss) per share - diluted | (0.42) | 17.52 | (8.38) |
Class B Preferred Shares [Member] | |||
Earnings (loss) per share - R$ | |||
Earnings (loss) per share - basic | (0.42) | 0.58 | (8.41) |
Earnings (loss) per share - diluted | R$ 0.42 | R$ 0.58 | R$ 8.41 |
Statement of consolidated compr
Statement of consolidated comprehensive income - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Profit or loss [abstract] | |||
(Loss) net profit for the year | R$ 820391 | R$ 13961620 | R$ 7015306 |
Items that will be reclassified subsequently to profit or loss | |||
Fair value of cash flow hedge, net of taxes | 292,486 | 324,374 | (397,558) |
Fair value of cash flow hedge from jointly-controlled, net of taxes | 267 | (968) | 1,260 |
Cash flow hedges,net of tax | 292,753 | 323,406 | (396,298) |
Exchange variation of foreign sales hedge, net of taxes | 1,121,938 | (1,260,781) | (4,541,581) |
Sales Hedge - transfer to profit or loss, net of taxes | 938,118 | 1,255,983 | 1,448,079 |
Exchange variation of foreign sales hedge - Braskem Idesa, net of taxes | 489,773 | (143,223) | (311,795) |
Sales Hedge - transfer to profit or loss - Braskem Idesa, net of taxes | 296,803 | 355,060 | 330,210 |
Sales hedges, net of tax | 2,846,632 | 207,039 | (3,075,087) |
Foreign subsidiaries currency translation adjustment | (1,805,667) | 1,503,148 | 2,658,042 |
Total | 1,333,718 | 2,033,593 | (813,343) |
Item that will not be reclassified to profito or loss | |||
Actuarial gain (loss) with post-employment benefits, net of taxes | 10,670 | 23,014 | (647) |
Total | 10,670 | 23,014 | (647) |
Total comprehensive income for the year | 523,997 | 16,018,227 | (7,829,296) |
Attributable to: | |||
Company's shareholders | 714,899 | 16,015,874 | (7,108,541) |
Non-controlling interest in subsidiaries | R$ 190902 | R$ 2353 | R$ 720755 |
Statement of changes in equity
Statement of changes in equity - BRL (R$) R$ in Thousands | Issued capital [member] | Capital reserve [member] | Statutory reserve [member] | Tax Incentive [Member] | Retention Of Profits [Member] | Additional Dividends Proposed [Member] | Additional paid-in capital [member] | Long Term Incentive Plans [Member] | Accumulated other comprehensive income [member] | Treasury shares [member] | Retained earnings [member] | Equity attributable to owners of parent [member] | Non-controlling interests [member] | Total |
As of December 31, 2021 at Dec. 31, 2019 | R$ 8043222 | R$ 232472 | R$ 577476 | R$ 153478 | R$ 1174301 | R$ 488388 | R$ 19980 | R$ 4777519 | R$ 49724 | R$ 4885298 | R$ 940592 | R$ 3944706 | ||
Comprehensive income for the year: | ||||||||||||||
Net profit (loss) for the year | (6,691,720) | (6,691,720) | (323,586) | (7,015,306) | ||||||||||
Exchange variation of foreign sales hedge, net of taxes | (3,079,691) | (3,079,691) | 4,604 | (3,075,087) | ||||||||||
Fair value of cash flow hedge, net of taxes | (390,608) | (390,608) | (5,690) | (396,298) | ||||||||||
Actuarial gain on defined benefit and health plan, net of taxes | (648) | (648) | 1 | (647) | ||||||||||
Foreign subsidiaries currency translation adjustment | 3,054,126 | 3,054,126 | (396,084) | 2,658,042 | ||||||||||
Total Comprehensive income for the period | (416,821) | (6,691,720) | (7,108,541) | (720,755) | (7,829,296) | |||||||||
Realization of additional property, plant and equipment price-level restatement, net of taxes | (26,302) | 26,302 | ||||||||||||
Realization of deemed cost of jointly-controlled investment, net of taxes | (741) | 741 | ||||||||||||
Fair value adjustments of trade accounts receivable, net of taxes | 113 | 113 | 113 | |||||||||||
Exchange variation in hyperinflationary economy, net of taxes | 8,077 | 8,077 | 8,077 | |||||||||||
Long term incentive plan, net of taxes | 11,629 | 11,629 | (415) | 11,214 | ||||||||||
Other | 3,695 | (3,695) | ||||||||||||
Comprehensive income | 11,629 | (15,158) | 23,348 | 19,819 | (415) | 19,404 | ||||||||
Contributions and distributions to shareholders: | ||||||||||||||
Dividends-lapse of statute of limitation | 1,110 | 1,110 | 1,110 | |||||||||||
Additional dividends of subsidiary | (2,450) | (2,450) | ||||||||||||
Absorption of losses | (232,460) | (577,476) | (153,478) | (1,174,301) | 2,137,715 | |||||||||
Gain on transfer of shares in custody long term incentive plan | (12) | 20 | 8 | 8 | ||||||||||
Total Contributions to shareholders | (232,472) | (577,476) | (153,478) | (1,174,301) | 20 | 2,138,825 | 1,118 | (2,450) | (1,332) | |||||
As of December 31, 2022 at Dec. 31, 2020 | 8,043,222 | (488,388) | 31,609 | (5,209,498) | (49,704) | (4,529,547) | (2,202,306) | (1,664,212) | (3,866,518) | |||||
Comprehensive income for the year: | ||||||||||||||
Net profit (loss) for the year | 13,984,946 | 13,984,946 | (23,326) | 13,961,620 | ||||||||||
Exchange variation of foreign sales hedge, net of taxes | 154,080 | 154,080 | 52,959 | 207,039 | ||||||||||
Fair value of cash flow hedge, net of taxes | 262,726 | 262,726 | 60,680 | 323,406 | ||||||||||
Actuarial gain on defined benefit and health plan, net of taxes | 23,028 | 23,028 | (14) | 23,014 | ||||||||||
Foreign subsidiaries currency translation adjustment | 1,591,094 | 1,591,094 | (87,946) | 1,503,148 | ||||||||||
Total Comprehensive income for the period | 2,030,928 | 13,984,946 | 16,015,874 | 2,353 | 16,018,227 | |||||||||
Realization of additional property, plant and equipment price-level restatement, net of taxes | (26,164) | 26,164 | ||||||||||||
Realization of deemed cost of jointly-controlled investment, net of taxes | (719) | 719 | ||||||||||||
Long term incentive plan | 323 | 323 | (132) | 191 | ||||||||||
Fair value adjustments of trade accounts receivable, net of taxes | (130) | (130) | (130) | |||||||||||
Exchange variation in hyperinflationary economy, net of taxes | 35,425 | 35,425 | 35,425 | |||||||||||
Contributions and distributions to shareholders: | ||||||||||||||
Dividends-lapse of statute of limitation | 1,653 | 1,653 | 1,653 | |||||||||||
Dividends | (6,000,000) | (6,000,000) | (6,000,000) | |||||||||||
Total Contributions to shareholders | 3,473 | 472,770 | 1,017,546 | 643,619 | 1,350,000 | 11,507 | (9,482,282) | (5,983,367) | (5,983,367) | |||||
Equity valuation adjustments: | ||||||||||||||
Equity valuation adjustments | 323 | 8,412 | 26,883 | 35,618 | (132) | 35,486 | ||||||||
Incentive long term plan payments with treasury shares | 3,473 | 11,507 | 14,980 | 14,980 | ||||||||||
Legal reserve | 472,770 | (472,770) | ||||||||||||
Tax incentive reserve | 1,017,546 | (1,017,546) | ||||||||||||
Retention of profits | 643,619 | (643,619) | ||||||||||||
Additional proposed dividends | 1,350,000 | (1,350,000) | ||||||||||||
As of December 31, 2022 at Dec. 31, 2021 | 8,043,222 | 3,473 | 472,770 | 1,017,546 | 643,619 | 1,350,000 | (488,388) | 31,932 | (3,170,158) | (38,197) | 7,865,819 | (1,661,991) | 6,203,828 | |
Comprehensive income for the year: | ||||||||||||||
Net profit (loss) for the year | (335,677) | (335,677) | (484,714) | (820,391) | ||||||||||
Exchange variation of foreign sales hedge, net of taxes | 2,649,988 | 2,649,988 | 196,644 | 2,846,632 | ||||||||||
Fair value of cash flow hedge, net of taxes | 292,753 | 292,753 | 292,753 | |||||||||||
Actuarial gain on defined benefit and health plan, net of taxes | 10,186 | 10,186 | 484 | 10,670 | ||||||||||
Foreign subsidiaries currency translation adjustment | (1,902,351) | (1,902,351) | 96,684 | (1,805,667) | ||||||||||
Total Comprehensive income for the period | 1,050,576 | (335,677) | 714,899 | (190,902) | 523,997 | |||||||||
Realization of additional property, plant and equipment price-level restatement, net of taxes | (26,164) | 26,164 | ||||||||||||
Realization of deemed cost of jointly-controlled investment, net of taxes | (719) | 719 | ||||||||||||
Fair value adjustments of trade accounts receivable, net of taxes | (35) | (35) | (35) | |||||||||||
Exchange variation in hyperinflationary economy, net of taxes | 70,434 | 70,434 | 70,434 | |||||||||||
Long term incentive plan, net of taxes | 20,207 | 20,207 | 20,207 | |||||||||||
Other | 475 | 475 | 475 | |||||||||||
Comprehensive income | 26,883 | |||||||||||||
Contributions and distributions to shareholders: | ||||||||||||||
Total Contributions to shareholders | 2,702 | 108,975 | (417,294) | (1,350,000) | (12,726) | 10,024 | 308,794 | (1,349,525) | 29,484 | (1,320,041) | ||||
Equity valuation adjustments: | ||||||||||||||
Equity valuation adjustments | 20,207 | 43,516 | 26,883 | 90,606 | 609,827 | 700,433 | ||||||||
Incentive long term plan payments with treasury shares | 2,702 | (12,726) | 10,024 | |||||||||||
SUDENE tax incentive supplement | 108,975 | (108,975) | ||||||||||||
Non-controlling interest in acquired entity | 30,720 | 30,720 | ||||||||||||
Fair value of financial transactions of non-controlling subsidiaries | 609,827 | 609,827 | ||||||||||||
Additional dividends approved in the board meeting | (1,350,000) | (1,350,000) | (1,350,000) | |||||||||||
Absorption of losses | (417,294) | 417,294 | ||||||||||||
Proposed dividends | (1,236) | (1,236) | ||||||||||||
As of December 31, 2022 at Dec. 31, 2022 | R$ 8043222 | R$ 6175 | R$ 472770 | R$ 1126521 | R$ 226325 | R$ 488388 | R$ 39413 | R$ 2076066 | R$ 28173 | R$ 7321799 | R$ 1213582 | R$ 6108217 |
Statement of consolidated cash
Statement of consolidated cash flow - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of cash flows [abstract] | |||
Profit (loss) before income taxes | R$ 47344 | R$ 17961023 | R$ 9683784 |
Adjustments for reconciliation of profit | |||
Depreciation and amortization | 4,733,165 | 4,178,433 | 4,048,081 |
Results from equity-accounted investees | (34,848) | (4,644) | 19,398 |
Interest foreign exchange gain/losses | 2,702,636 | 6,311,431 | 10,457,272 |
Provisions, net | 370,153 | 819,130 | 336,838 |
Provision - geological event in Alagoas | 1,520,019 | 1,339,765 | 6,901,828 |
PIS and Cofins credits - exclusion of ICMS from the calculation basis | (1,031,099) | (310,557) | |
Loss for impairment of trade accounts receivable and others from clients | 38,426 | 8,914 | 55,252 |
Write-offs of long-lived assets | 130,995 | 115,187 | 8,794 |
Adjustments for reconciliation of profit | 9,507,890 | 29,698,140 | 11,833,122 |
Changes in operating working capital | |||
Judicial deposits - unfreezing (blocking) Public Civil Action | 3,746,107 | ||
Financial investments | 1,530,050 | 296,957 | (1,860,827) |
Trade accounts receivable | 3,661,267 | (2,175,285) | (2,187,826) |
Inventories | 2,138,161 | (7,574,285) | (252,534) |
Taxes recoverable | 682,457 | 4,963,587 | 1,532,554 |
Other receivables | 310,789 | (198,556) | 690,888 |
Trade payables | 514,079 | 1,199,614 | (3,001,564) |
Taxes payable | (1,009,356) | (3,007,488) | 449,761 |
Leniency agreement | (317,867) | (389,087) | (349,842) |
Sundry provisions | (406,587) | (314,194) | (145,355) |
Geological event in Alagoas | (2,742,791) | (2,928,081) | (1,181,931) |
Other payables | (390,727) | 805,452 | 14,801 |
Cash generated from operations | 13,477,365 | 20,376,774 | 9,287,354 |
Interest paid | (2,904,879) | (2,883,433) | (2,736,821) |
Income taxes | (1,620,747) | (2,706,856) | (257,542) |
Net cash generated from operating activities | 8,951,739 | 14,786,485 | 6,292,991 |
Proceeds from the sale of fixed and intangible assets | 2,438 | 40,353 | 33,140 |
Dividends received | 5,660 | 295 | 4,822 |
Acquisition of subsidiary | (42,121) | ||
Acquisition of other investments | (64,969) | ||
Acquisitions to property, plant and equipment and intangible assets | (4,848,281) | (3,421,324) | (2,759,789) |
Net cash used in investing activities | (4,947,273) | (3,380,676) | (2,721,827) |
Short-term and Long-term debt | |||
Acquired | 6,418,208 | 16,308 | 13,049,459 |
Payments | (3,855,662) | (9,413,909) | (8,734,505) |
Braskem Idesa borrowings | |||
Acquired | 7,271,658 | ||
Payments | (45,311) | (7,995,045) | (905,210) |
Loan payment to non-controlling shareholders of Braskem Idesa | (34,122) | (9,545) | (37,618) |
Lease | (928,890) | (841,706) | (662,068) |
Dividends paid | (1,350,293) | (5,993,265) | (2,380) |
Non-controlling interest in subsidiaries | 21,162 | ||
Other financial liabilities | (534,456) | ||
Net cash generated (used) in financing activities | 225,092 | (16,965,504) | 2,173,222 |
Exchange variation on cash of foreign subsidiaries | (443,770) | 377,529 | 1,314,586 |
Increase (decrease) in cash and cash equivalents | 3,785,788 | (5,182,166) | 7,058,972 |
Represented by | |||
Cash and cash equivalents at the beginning of the year | 8,680,686 | 13,862,852 | 6,803,880 |
Cash and cash equivalents at the end of the year | 12,466,474 | 8,680,686 | 13,862,852 |
Increase (decrease) in cash and cash equivalents | R$ 3785788 | R$ 5182166 | R$ 7058972 |
Operations
Operations | 12 Months Ended |
Dec. 31, 2022 | |
Operations | |
Operations | 1 Operations Braskem S.A. is a public corporation headquartered in Camaçari, Bahia (“BA”), which, jointly with its subsidiaries (hereinafter “Braskem” or “Company”), is controlled by Novonor S.A. (“Novonor”), which directly and indirectly holds interests of 50.11 38.32 The Braskem’s shares are traded on B3 S.A. Brasil, Bolsa, Balcão (“B3”), under the tickers BRKM3, BRKM5 and BRKM6, and on the New York Stock Exchange (“NYSE”) under the ticker BAK and on the Madrid Stock Exchange (“LATIBEX”) under the ticker XBRK. Braskem also is engaged, among others, in the manufacture, sale, import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air and industrial gases, as well as the provision of industrial services and the production, supply and sale of electric energy and natural gas for its own use and use by other companies. Braskem also invests in other companies. The Company has industrial plants in Brazil, the United States, Germany, and Mexico. The units produce thermoplastic resins, such as polyethylene (“PE”), polypropylene (“PP”), polyvinyl chloride (“PVC”) and other basic petrochemicals. Operations of subsidiary Braskem Idesa S. A. P. I. (“Braskem Idesa”) On September 27, 2021, Braskem Idesa signed the following documents: (i) amendment to the ethane supply agreement (“Amendment”) with PEMEX; and (ii) agreement with Petróleos Mexicanos, PEMEX Logística and other Mexican government entities, establishing administrative support measures, especially to obtain of licenses, permits and rights of way for the project to build an ethane import terminal with the capacity to meet all Braskem Idesa's feedstock requirements ("Terminal Agreement”). The Amendment changed the minimum contractual volume commitment to 30,000 The Amendment further established first-refusal rights for Braskem Idesa in the acquisition of all ethane that PEMEX has available and does not consume in its own production process through 2045, at prices based on international references. The approvals required for the Amendment and Terminal Agreement to come into force were obtained in October 2021 and the Amendment started producing effects retroactive to February 26, 2021, the execution date of the memorandum of understanding. On June 14, 2022, Braskem Idesa signed agreements with Advario B.V. to sell 50 In March 2023, the conditions for the conclusion of the agreement were fulfilled and Advario B.V. made a payment of US$ 56 292 50 |
Basis of preparation of the fin
Basis of preparation of the financial statements | 12 Months Ended |
Dec. 31, 2022 | |
Basis Of Preparation Of Financial Statements | |
Basis of preparation of the financial statements | 2 Basis of preparation of the financial statements 2.1 Basis of accounting The consolidated financial statements were prepared and presented in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). 2.2 Basis of presentation The Company’s consolidated financial statements (“financial statements”) were prepared under the historical cost basis, unless stated otherwise in the accounting policies. These consolidated financial statements have been prepared on a going concern basis. The significant accounting policies applied in the preparation of these consolidated financial statements were included in the respective notes and are consistent in the fiscal years presented. The issue of these consolidated financial statements was authorized by the Executive Board on April 24, 2023. 2.3 Basis of consolidation The consolidated financial statements include the financial statements of Braskem S.A. and the following entities: Schedule of consolidated financial statements Total and voting interest (%) 2022, 2021 and 2020 Headquarter 2022 2021 2020 BM Insurance Company Limited ("BM Insurance") Bermuda 100 100 100 Braskem Argentina S.A. (“Braskem Argentina”) Argentina 100 100 100 Braskem Energy Ltda. (i) Brazil 100 Braskem Finance Limited (“Braskem Finance”) Cayman Islands 100 100 100 Braskem Green S.A. Brazil 100 100 Braskem Incorporated Limited ("Braskem Inc.") Cayman Islands 100 100 100 Braskem Mexico, S. de RL de C.V. ("Braskem México") Mexico 100 100 100 Braskem Netherlands B.V. ("Braskem Holanda") Netherlands 100 100 100 Braskem Petroquímica Chile Ltda. (“Braskem Chile”) Chile 100 100 100 Braskem Ventures Ltda. ("Braskem Ventures") (ii) Brazil 100 Lantana Trading Co. Inc. (“Lantana”) (iii) Bahamas 100 100 Voqen Energia Ltda. ("Voqen") (i) Brazil 100 - Braskem America Finance Company ("Braskem America Finance") USA 100 100 100 Braskem America, Inc. (“Braskem America”) USA 100 100 100 Braskem Europe GmbH ("Braskem Alemanha") Germany 100 100 100 Braskem Idesa S.A.P.I. ("Braskem Idesa") Mexico 75 75 75 Braskem Idesa Servicios S.A. de C.V. ("Braskem Idesa Serviços") Mexico 75 75 75 Braskem India Private Limited ("Braskem India") India 100 100 100 Braskem Mexico Proyectos S.A. de C.V. SOFOM ("Braskem México Sofom") Mexico 100 100 100 Braskem Mexico Servicios S. RL de C.V. ("Braskem México Serviços") Mexico 100 100 100 Braskem Netherlands Finance B.V. (“Braskem Holanda Finance”) Netherlands 100 100 100 Braskem Netherlands Green B.V. (“Braskem Holanda Green”) Netherlands 100 100 Braskem Netherlands Inc. B.V. (“Braskem Holanda Inc.”) Netherlands 100 100 100 Builder Brasil Ltda. ("Builder Brasil") (ii) Brazil 100 Builder USA LLC. ("Builder USA") (ii) USA 100 Cetrel S.A. ("Cetrel") Brazil 63.70 63.70 63.70 Distribuidora de Água Camaçari S.A. ("DAC") Brazil 63.70 63.70 63.70 B&TC B.V. ("B&TC") (iv) Netherlands 60 ER Plastics B.V. ("ER Plastics") (iv) Netherlands 60 Terminal Química Puerto México ("Terminal Química") Mexico 75 75 Special Purpose Entities Fundo de Investimento Caixa Júpiter Multimercado Crédito Privado Brazil 100 100 100 Fundo de Investimento Santander Netuno Multimercado Crédito Privado Longo Prazo ("FIM Netuno") Brazil 100 100 100 (i) Voqen was incorporated in 2022 and began its operations in September 2022. Its main activities include power and natural gas trading and services rendered, as well as representation in the Free Energy Contracting Environment. In July 2022, Braskem Energy Ltda., which was 100% held by Braskem, was merged into Voqen at book value. (ii) Braskem Ventures, Builder Brasil and Builder USA: entities incorporated between May 2022 and June 2022 and are part of the Oxygea group, whose purpose is to foster the creation and development of new business initiatives. (iii) Lantana was a non-operational entity that had the operations closed in November 2022. (iv) B&TC and ER Plastics: In August 2022, Braskem Holanda acquired 60% interest in B&TC, which holds 100% of the shares of ER Plastics, which undertakes mechanical recycling of mixed plastic waste into compression molded products (boards for use in construction and pallets). (a) Subsidiaries The Company controls an entity when it is exposed to, or entitled to, the variable returns originating from its involvement with the entity and has the capacity to affect such returns by exercising its power over the entity. The financial statements of subsidiaries are included in these consolidated financial statements as from the date the Company obtains control until the date of the loss of control. (b) Equity method Investees The Company’s investments in entities with accounting treatment using the equity method consist of their interests in associates and joint ventures. Associates are those in which the Company, directly or indirectly, has significant influence, but not control or shared control, over the financial and operating policies. To be classified as a joint venture, a contractual agreement must exist that gives the Company shared control of the entity and granting to the Company the right to the net assets of the joint venture, and not the right to its specific assets and liabilities. Such investments are initially recognized at cost, which includes the expenses with the transaction costs. After initial recognition, the consolidated financial statements include the Company’s interest in the net profit or loss for the fiscal year profit or loss and other comprehensive income of equity-accounted investees, in the investee until the date on which the significant influence or joint control ceases to exist. (c) Conversion of functional currency to presentation currency The assets and liabilities of foreign operations are translated into Reais at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into Reais at the exchange rates at the dates of the transactions. Foreign currency differences (Note 2.4) from translation to presentation currency are recognized in other comprehensive income. Since Argentina’s economy is considered hyperinflationary, to translate the financial information of the subsidiary Braskem Argentina, the assets, liabilities, equity, income and expenses are translated into Reais at the exchange rate at the reporting date. (d) Transactions eliminated in consolidation Intragroup balances and transactions and any unrealized revenues or expenses arising from intragroup transactions are eliminated. Unrealized gains originating from transactions with investees recorded using the equity method are eliminated against the investment proportionately to the Company’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment loss. 2.4 Functional and foreign currency These consolidated financial statements are presented in Brazilian Real, which is the functional currency of the Company. All amounts have been rounded to the nearest thousand, unless otherwise stated. The subsidiaries with a functional currency different from Brazilian Real (R$) are listed below: Schedule of subsidiaries with a functional currency Subsidiaries Functional currency Braskem Alemanha, B&TC and ER Plastics Euro BM Insurance, Braskem America, Braskem America Finance, Braskem Holanda, Braskem Holanda Finance, Braskem Holanda Inc., Braskem México Proyectos, Braskem Holanda Green, Terminal Química and Builder USA. U.S.dollar ("US$") Braskem Idesa, Braskem Idesa Serviços, Braskem México and Braskem México Serviços Mexican peso Braskem Argentina Argentinean peso Braskem Chile Chilenean peso Braskem Índia Rupee 2.5 New standards or amendments for the current fiscal year and future requirements (a) New standards and pronouncements adopted in the current fiscal year In the current fiscal year, the Company identified a series of amendments under the IFRS accounting standards that became effective for accounting periods starting on or after January 1, 2022: - Onerous contracts: costs of fulfilling a contract (amendments to IAS 37). - Annual improvements of IFRS Standards 2018-2020. - Property, Plant and Equipment: revenue before intended use (amendments to IAS 16). - Reference to the Conceptual Framework (amendments to IFRS 3). The adoption of these amendments did not have any material impact on the disclosures or amounts presented in these consolidated financial statements. (b) Future requirements The new and amended standards and interpretations already issued but not yet effective as of the reporting date are described below: - Classification of liabilities as current or non-current (amendments to IAS 1). - Definition of accounting estimates (amendments to IAS 8). - Definition of materiality for disclosure of accounting policies (amendments to IAS1 and IFRS Practice Statement 2). - Deferred taxes related to assets and liabilities arising from a single transaction (amendments to IAS 12). - Insurance contracts (IFRS17). The Company plans to adopt these new and amended standards and interpretations, if applicable, when they become effective. Management does not expect the adoption of the standards listed above to have a significant impact on the Company’s consolidated financial statements in future periods. 2.6 Impacts from Russia-Ukraine conflict The Company formed a committee to monitor the consequences of sanctions applied to Russia and the developments in the conflict as well as to take any measures to minimize potential impacts on the Company, its team members and the communities where it operates. The conflict has caused an increase in the international price of commodities related to the Company's business, such as oil and natural gas, affecting the cost of the Company's inputs used in the production process. The European geopolitical scenario also affected the demand for petrochemical products, global supply chain and pressured inflation in several countries. For this reporting period, it has not caused significant adverse impacts on the Company's equity and financial position, although it is not possible to accurately predict significant adverse effects in the future. Further sanctions, embargoes, regional instability, geopolitical changes, dysfunctions in the logistics chain, adverse effects on macroeconomic conditions, currency exchange rates and interest rates could affect the prices of products and costs of inputs in the international market, interrupt the supply chain, reduce sales and/or affect operations of the Company. As of the reporting date, the Company has not identified any relevant impacts on its business arising from the sanctions applied to date and adverse scenario caused by the geopolitical conflict. |
Application of estimates and ju
Application of estimates and judgments | 12 Months Ended |
Dec. 31, 2022 | |
Application Of Estimates And Judgments | |
Application of estimates and judgments | 3 Application of estimates and judgments In preparing these consolidated financial statements, Management has made judgments and estimates that affect the application of the Company’ accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results can differ from these estimates due to differences in the variables, assumptions or conditions used in making estimates. Judgments and estimates are reviewed on an ongoing basis and are based on historical experience and other factors, including expectations of future events that are deemed reasonable under the circumstances. Revision to estimates is recognized prospectively. Critical judgments and estimates applied by the Company in the preparation of these consolidated financial statements are presented in the following notes: 3.1 Assumptions and estimation uncertainties - Note 12(b) : The useful lives and discount rate of impairment testing of property, plant and equipment. - Note 13(a) : Determination of the discount rate and the recoverable amount of goodwill. - Note 20.2 : Application of hedge accounting: determining the fair value of financial instruments and judgment of highly probable forecast transaction. - Note 22.2 : Recognition of deferred tax assets, expectation of future taxable income against which deductible temporary differences and tax losses carryforward can be utilized. - Note 23(a): Recognition and measurement of provisions for recovery of environmental damages: identifying potential environmental impacts, evaluate technical solutions and time of the remediation involve judgment as to the probability and magnitude of the outflow of resources. - Note 24: Recognition and measurement of provisions for tax, labor and civil lawsuits: judgement on interpretation of the matter under discussion and estimate as to the probability and magnitude of the outflow of resources. - Note 26: Recognition and measurement of provision for costs arising from the geological event in Alagoas: uncertainties regarding the outcome of actions to close and monitor wells, future studies by experts, changes related to the dynamics of the geological event, individual lawsuits, adherence by the municipality of Maceió and other parties, that could affect the probability and magnitude of the outflow of resources. |
Risk management
Risk management | 12 Months Ended |
Dec. 31, 2022 | |
Risk Management | |
Risk management | 4 Risk management The Company is exposed to market risks arising from variations in commodity prices, foreign exchange rates and interest rates, credit risks of its counterparties in cash equivalents, financial investments and trade accounts receivable, and liquidity risks to meet its obligations from financial liabilities. The Company adopts procedures for managing market and credit risks that are in conformity with its Financial Policy, which is reviewed by the Board of Directors quarterly. The purpose of risk management is to protect the Company’s cash flows and reduce the threats to the financing of its operating working capital and investment programs. 4.1 Market risks The Company prepares a sensitivity analysis for foreign exchange rate and interest rate risks to which it is exposed, presented in Note 20.8. Management of the interest rate benchmark reform and associated risks Overview The planning for an organized replacement of interbank offered rates (“IBORs”) for alternative, nearly risk-free interest rates (RFRs, or “Risk-Free Rates”) is in progress. Initiatives are being adopted to adapt the market before the discontinuation of IBORs, which is expected for June 2023. The Company uses IBORs as reference rates on several of its financial instruments, and as part of these market-wide initiatives, RFRs will eventually replace such reference rates. While the transition will force modifications on contracts that use IBORs as reference rates, the Company expects no significant impact on its risk management after its completion. However, it will continue to monitor the transition and implement whatever changes or new controls are deemed to be appropriate as potential issues arise. Derivatives The derivative instruments traded on over-the-counter market are governed by contracts based on the master agreements of the International Swaps and Derivatives Association (“ISDA”) and agreed with counterparties in the international banking market. As part of the IBOR reform, the ISDA published a protocol that changed all master agreements in force to include RFRs as replacement rates (fallback) for use upon discontinuation of the various IBORs. The protocol came into force as of January 25, 2021. The Company and the subsidiaries Braskem America, Braskem Idesa and Braskem Holanda Finance already have carried out its adoption. Liabilities As of December 31, 2022, the Company has bank loans with interest rates linked to LIBOR in US$ (see notes 16 and 17), which consequently will be subject to IBOR reform. The Company expects the benchmark interest rate of these loans to be changed to guaranteed forward rates at the Security Overnight Financing Rate (SOFR) by June 2023. The Company estimates that the updated cash flows will be economic equivalent to the original and has no expectation of material impacts. (a) Exposure to commodity risks Most of Company’s feedstocks (naphtha, ethane, propane and propylene) and main products (PE, PP and PVC) are commodities quoted on international markets. A series of factors determine the dynamics of these quotes, nevertheless our sales prices are also impacted in a similar proportion when compared with our feedstock supply chain. (b) Exposure to foreign exchange risk Considering the dynamics of the international petrochemical market, where prices are mostly pegged to international US dollar-denominated references, the Company’s sales in Brazil and Mexico are strongly correlated to the US$. To mitigate the long-term exchange risk, since September 2016, the Company started to contract financial derivatives to compose a Long-Term Foreign Exchange Hedge Program, by US dollar call and put option contracts, hedging expected cash flows over an 18-month horizon, as detailed in Note 20.5. In addition to this program, to maintain the balance of the US dollar-denominated assets and liabilities exposure, as established in its Financial Policy, the Company will maintain at least 70% of the net debt exposed to the US dollar. If convenient, the Company may maintain a percentage of more than 70%, although subject to a sensitivity analysis of key financial indicators and proof of the inexistence of significant risk of deterioration of these indicators. As of December 31, 2022, the Company prepared a sensitivity analysis for its exposure to the fluctuation in US$, as disclosed in Note 20.8. (c) Exposure to interest rate risk The Company is exposed to the risk that a variation in floating interest rates causes an increase in its financial expenses due to payments of future interest. Debt denominated in foreign currency subject to floating rates is mainly subject to fluctuations in LIBOR. Debt denominated in R$ is mainly subject to the variation in the Interbank Certificate of Deposit (“CDI”) rate. As of December 31, 2022, the Company prepared a sensitivity analysis for the exposure to the floating interest rates LIBOR, CDI, SELIC, SOFR and Extended National Consumer Price Index (“IPCA”), as disclosed in Note 20.8. 4.2 Exposure to credit risk The transactions that subject the Company to the concentration of credit risks are mainly in bank checking accounts, financial investments, and trade accounts receivable in which the Company is exposed to the risk of the financial institution or customer involved. In order to manage this risk, the Company maintains bank current accounts and financial investments with major financial institutions, weighting concentrations in accordance with the credit rating and the daily prices observed in the Credit Default Swap market for the institutions, as well as netting contracts that minimize the total credit risk arising from the many financial transactions entered into by the parties. As of December 31, 2022, 33.8% of the amounts recorded as “Cash and cash equivalents” (Note 5) and “Financial Investments” (Note 6) were allocated to financial institutions that had offset agreements with the Company. The obligations under these agreements are accounted for under “Borrowings” (Note 16). The effective netting of these amounts is possible only in the event of default by one of the parties. With respect to the credit risk of customers, the Company protects itself by performing analysis before granting credit and obtaining secured and unsecured guarantees when considered necessary, including credit insurance. The maximum exposure to credit risk of non-derivative financial instruments on the reporting date is the sum of their carrying amounts less any impairment losses. 4.3 Liquidity risk The Company has a calculation methodology to determine a minimum cash “monthly vision” (30-day horizon) and a minimum cash “yearly vision” (up to 12-month horizon) for the purpose of, respectively: (i) monitoring the liquidity needed to comply with obligations of the following month; and (ii) monitoring the Company´s liquidity during potential crisis. The amounts to determine the minimum cash “yearly vision” are calculated based on the projected operating cash generation, less short-term debts and working capital needs. The amounts used for determining the minimum cash “monthly vision” consider the projected operating cash disbursement, debt service and investments in projects, as well as the planned disbursement for derivatives maturing in the period, among other items. According to its Financial Policy, the Company uses as a minimum cash the greater of these two references. In December 2021, the Company, in keeping with its commitment to maintain its financial liquidity, renewed an international revolving credit facility in the amount of US$1 billion (R$5.22 billion), which expires in 2026. This credit line may be used without restrictions to improve the Company’s credit quality or in the event of deterioration in the macroeconomic scenario. As of December 31, 2022, this new credit line had not been used. The Company's financial liabilities, including the amounts due under the Leniency Agreement (Note 25), are shown in the table below by maturity. These amounts are calculated based on cash flows not discounted that consider future financial charges and may not be reconciled with the amounts disclosed in the statement of financial position. Schedule of financial liabilities by maturity Consolidated Until Between one Between two More than one year and two years and five years five years Total Trade payables 12,410,232 3,069 12,413,301 Borrowings 1,360,722 3,139,258 3,931,315 57,625,391 66,056,686 Debentures 136,142 102,090 - 6,167,985 6,406,217 Braskem Idesa borrowings 996,697 17,274,826 18,271,523 Derivatives 192,226 5,691 - 88,273 286,190 Loan from non-controlling shareholder of Braskem Idesa 4,391,832 4,391,832 Leniency agreement 434,804 658,154 - - 1,092,958 Lease 1,109,048 855,803 581,592 2,436,734 4,983,177 At December 31, 2022 16,639,871 4,764,065 4,512,907 87,985,041 113,901,884 4.4 Capital management The Company’s policy is to maintain capital management to ensure the continuity and development of its business and to maintain the trust of investors, creditors and the general market. The capital structure, according to the Management, considers the balance between own capital and net debt. This composition meets the Company’s policy of providing a consistent return to shareholders and other stakeholders. This structure also allows borrowing costs to maximize shareholder remuneration. Due to the impact of US$ on the Company’s operations, Management believes that the own capital used for capital management purposes should be measured in US$. Moreover, the Company may temporarily maintain another capital structure, for example, during periods of growth, when the Company may finance a large portion of its projects through borrowings, provided that this option maximizes return for shareholders once the financed projects start operating. In order to adjust and maintain the capital structure, the Management may also consider the sale of non-strategic assets, the issue of new shares or even adjustments to dividend payments. As is the case of liquidity, capital is managed at the consolidated level, except for the liquidity and capital of the subsidiary Braskem Idesa and other subsidiaries with non-controlling interest, whose specific management is concentrated at the subsidiaries level. |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2022 | |
Cash and cash equivalents [abstract] | |
Cash and cash equivalents | 5 Cash and cash equivalents Schedule of cash and cash equivalents 2022 2021 Cash Domestic market 517,236 676,083 Foreign market (i) 5,556,972 4,374,739 Cash equivalents Domestic market 3,684,999 1,141,221 Foreign market (i) 2,707,267 2,488,643 Total 12,466,474 8,680,686 (i) On December 31, 2022, it includes R$ 931,991 of cash and R$ 1,252,341 of cash equivalents (2021: R$ 1,267,582 505,749 Cash equivalents are represented mainly by fixed-income instruments and time deposits, such as bank deposit certificates (“CDBs”), treasury bonds, financial bills, debentures, and shares of fixed income investment funds. These assets may be directly held by the Company or through its exclusive funds, FIM Júpiter and FIM Netuno. Average yield of cash equivalents is presented jointly with financial investments (see note 6). The cash equivalents abroad consist of fixed income instruments (Time Deposit) and interest bearing accounts. |
Financial investments
Financial investments | 12 Months Ended |
Dec. 31, 2022 | |
Financial Investments | |
Financial investments | 6 Financial investments Schedule of financial investments 2022 2021 Amortized cost Time deposit investments - 106,271 Fair value through profit or loss LFT´s and LF´s (i) 1,789,375 2,337,171 Restricted funds investments (ii) 305,485 852,362 Other 217,771 213,751 Total 2,312,631 3,509,555 Current assets 2,295,497 3,492,710 Non-current assets 17,134 16,845 Total 2,312,631 3,509,555 (i) These refer to Brazilian floating-rate government bonds ("LFTs") issued by the Brazilian federal government and floating-rate bonds ("LFs") issued by financial institutions. (ii) Includes the following amounts: R$ 175,153 835,517 130,332 16,845 In 2022, financial investments and cash equivalents (Note 5) in Brazilian R$ had an average yield of 102.59 102.50 1.18 0.45 |
Trade accounts receivable
Trade accounts receivable | 12 Months Ended |
Dec. 31, 2022 | |
Trade Accounts Receivable | |
Trade accounts receivable | 7 Trade accounts receivable The Company’s average receivables term is generally 30 days; therefore, the carrying value of the trade accounts receivable approximates their fair value. The Company realizes part of its trade accounts receivable through the sale of trade notes to funds and financial institutions that acquire receivables. These operations are not entitled to recourse and the risks and benefits over the receivables are transferred and the trade accounts receivable are derecognized. As of December 31, 2022, the amounts of trade accounts receivable transferred and derecognized maturing after December 31, 2022, was R$3.5 billion (2021: R$3.5 billion). Loss recognized at the date of transfer of the abovementioned receivables were R$73 million (2021: R$39 million), recorded under Financial Expenses. Schedule of trade accounts receivable Note 2022 2021 Customers Domestic market Third parties 1,533,675 2,851,701 Related parties 9 13,791 12,240 1,547,466 2,863,941 Foreign market Third parties 1,796,559 4,434,653 1,796,559 4,434,653 Expected credit losses (i) (112,091) (131,634) Total 3,231,934 7,166,960 Current assets 3,231,934 7,153,565 Non-current assets - 13,395 Total 3,231,934 7,166,960 (i) According to the Management, the Company's Expected Credit Losses ("PCE") are considered sufficient to cover any losses on accounts receivable. To estimate this loss, the Company considers the following criteria: (i) receivables past due and falling due within 90 days, weighted by each client's operational risk; (ii) receivables in renegotiation process; (iv) receivables past due over 180 days; (v) receivables in collection by the courts; and (vi) receivables from clients classified with high operational risk. The table below shows PCE by maturity: Schedule of trade accounts receivable by maturity 2022 2021 Trade accounts receivable Expected credit losses Total Trade accounts receivable Expected credit losses Total Accounts receivables not past due 2,687,775 (34,931) 2,652,844 6,705,123 (12,291) 6,692,832 Past due securities: - - Up to 90 days 536,289 (6,783) 529,506 431,899 (2,264) 429,635 Between 91 to 180 days 25,015 (3,010) 22,005 45,134 (1,390) 43,744 Above 180 days 94,946 (67,367) 27,579 116,438 (115,689) 749 Total 3,344,025 (112,091) 3,231,934 7,298,594 (131,634) 7,166,960 The changes in the expected credit loss are presented below: Schedule of changes in allowance for doubtful accounts 2022 2021 2020 Balance at the beginning of the year (131,634) (173,007) (229,323) Additions (87,898) (144,888) (65,571) Reversals 71,400 149,681 28,563 Write-off of securities considered uncollectible 36,041 36,580 93,324 Balance at the end of the year (112,091) (131,634) (173,007) Write-off The gross carrying amount of a financial asset is written-off when the Company has no reasonable expectations of recovering a financial asset in its entirety or a portion thereof. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2022 | |
Inventories Abstract | |
Inventories | 8 Inventories Inventories are measured at the lower of cost and net realizable value. The cost of inventories is recorded at the weighted average cost. In the case of manufactured inventories, besides raw materials and other consumables, cost includes an appropriate share of production overheads based on normal operating capacity. Schedule of inventory 2022 2021 Finished goods 8,558,025 9,271,708 Semi-finished goods 663,182 568,914 Raw materials, production inputs and packaging 2,747,525 3,356,660 Maintenance materials 869,953 766,994 Advances to suppliers 124,285 62,573 Imports in transit 1,067,094 2,308,252 Total 14,030,064 16,335,101 The effect of the provision for inventories at the year is shown below: Schedule of provision for inventories 2022 2021 2020 Balance at the beginner of the year 82,218 122,572 82,195 Additions (i) 533,471 97,911 120,483 Utilization/reversals (103,583) (138,265) (80,106) Balance at the end of the year 512,106 82,218 122,572 (i) The increase in the provision refers mainly to the net realizable value of inventories in certain product lines, which is explained by the lower sales prices compared to the values of inventories recorded on the balance sheet due to the current economic scenario. |
Related parties
Related parties | 12 Months Ended |
Dec. 31, 2022 | |
Related Parties | |
Related parties | 9 Related parties Schedule of related party transactions Balances at December 31, 2022 Balances at December 31, 2021 Novonor and Novonor and subsidiaries Petrobras and subsidiaries Petrobras and Balance sheet and associates subsidiaries Other (i) Total and associates subsidiaries Other (i) Total Assets Current Trade accounts receivable - 11,924 1,867 13,791 - 4,894 7,346 12,240 Inventories (advance to suppliers) - 61,428 - 61,428 - 9,927 - 9,927 Dividends and interest on capital - - 4,296 4,296 - - - - Other receivabels 11,348 287 - 11,635 - 287 - 287 - Non-current - Other receivables - 5,657 - 5,657 - 38,987 - 38,987 Total assets 11,348 79,296 6,163 96,807 - 54,095 7,346 61,441 Liabilities Current Trade payables 126,014 137,764 14,189 277,967 103,259 134,063 11,113 248,435 Other payables 4 233,133 314 233,451 - 296,984 345 297,329 Non-current Trade payables 3,069 - - 3,069 - - - Loan to non-controlling shareholders of Braskem Idesa - - 2,498,093 2,498,093 - - 3,646,538 3,646,538 Total liabilities 129,087 370,897 2,512,596 3,012,580 103,259 431,047 3,657,996 4,192,302 Year ended December 31, 2022 Year ended December 31, 2021 Year ended December 31, 2020 Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Transactions Sales of products - 182,218 437,514 619,732 – 171,665 540,855 712,520 – 182,521 326,825 509,346 Purchases of raw materials, finished goods services and utilities (334,363) (22,900,140) (24,813) (23,259,316) (306,426) (19,833,063) (6,953) (20,146,442) (133,127) (14,566,840) (20,350) (14,720,317) Financial income (expenses), net (854) (33,656) 41,082 6,572 (141) (11,758) (245,819) (257,718) (452) (3,810) (818) (5,080) General and administrative expenses - – (45,329) (45,329) – - (67,273) (67,273) – – (46,738) (46,738) Other income (expenses) - 51,248 - 51,248 – (217,497) - (217,497) – – - – (i) Borealis, Grupo Idesa, Refinaria de Petróleo Riograndense S.A e Vexty (a) New and/or renewed agreements with related companies As provided for in Braskem’s bylaws, the Board of Directors has the exclusive power to approve any contract with related parties that exceed R$ 20,000 60,000 The related parties that have significant relationship with the Company are as follows: Novonor and its direct and indirect subsidiaries: - Tenenge Montagem e Manutenção Ltda. (“Tenenge”) In February 2022, the Company entered into an electromechanical assembly service agreement to expand the production capacity of the Ethylene-Ethanol Unit located in Trunfio, Rio Grande do Sul with Tenenge, with duration from February 9, 2022 to July 31, 2023. The estimated amount of the agreement is R$ 142 Petrobras and its indirect joint ventures: Petrobras In June 2020, the Company entered into a sales option agreement for up to 2,850 kton/y of petrochemical naphtha to Petrobras with mandatory purchase by Braskem. The term of the agreement is from January 1, 2021 to December 31, 2025. The estimated amount of the agreement is R$30 billion. In December 2020, the Company entered into a sale agreement with Petrobras for up to 2 million tons of petrochemical naphtha per year, for our industrial unit in the State of São Paulo. This term of the agreement is from December 23, 2020 to December 31, 2025. The estimated amount under the agreement is R$25 billion. In December 2020, the Company entered into an agreement with Petrobras to purchase ethane and propane to produce up to 580,000 tons of ethylene equivalent and sell up to 58.4 million Nm³ of hydrogen. The term of the agreement is from January 1, 2021 to December 31, 2025. The estimated amount of the agreement is R$9.2 billion. - Petrobras Transporte S.A. (“Transpetro”) In January 2021, the Company entered into an agreement with Transpetro involving the provision of services to Braskem, namely tanker vessel unloading in the Madre de Deus Waterway Terminal (“TEMADRE”), tank storage, product transportation via the pipeline “ORMADRE” that connects TEMADRE to REFMAT, and the transportation of naphtha via pipeline from TEMADRE to the facilities of the carrier located in the municipality of Camaçari/BA. The duration of the agreement is from February 1, 2021 to December 31, 2025, and the total estimated amount of the agreement is R$ 203 - Petrocoque S.A. Indústria e Comércio (“Petrocoque”) In March 2021, the Company executed an amendment to extend the agreement with Petrocoque, for purchase of steam to be used as energy by Polyethylene plants. This amendment, summed to total amount of the original agreement, executed in September 2009, amounts to R$ 433 - Refinaria Alberto Pasqualini In June 2020, the Company entered into a naphtha supply agreement with Petrobras for 450 kton/y, from the REFAP to our unit in the State of Rio Grande do Sul. The term of the agreement is from December 23, 2020 to December 31, 2025. The estimated amount of the agreement is R$2.5 billion. In October 2021, the Company entered into a purchase agreement with Petrobras for 108 kton/year of polymer-grade propylene from REFAP, with delivery to Braskem’s polypropylene industrial units, PP1 and PP2, in Triunfo, Rio Grande do Sul. This agreement is in force from November 1, 2021 to October 31, 2022. The maximum amount of the agreement is estimated at R$ 630 - Refinaria Capuava (“RECAP”) In December 2021, the Company entered into a purchase agreement with Petrobras for 140 kton/year of polymer-grade propylene from RECAP, with delivery to Braskem’s PP4 industrial unit (“PP4”) in Mauá, São Paulo,. The agreement is in force from January 1, 2022 to May 17, 2026. The maximum amount of the agreement is estimated at R$ 3.3 - Refinaria Duque de Caxias (“REDUC”) In December 2021, the Company entered into a purchase agreement with Petrobras for 100 kton per year of polymer-grade propylene from REDUC, with delivery to Braskem’s PP5 industrial unit (“PP5”) in Rio de Janeiro. The agreement is in force from January 1, 2022 to May 17, 2026. The maximum amount of the agreement is estimated at R$ 2.4 - Refinaria Henrique Lage (“REVAP”) In December 2021, the Company entered into a purchase agreement with Petrobras for 120 kton per year and 40 kton per year of polymer-grade propylene from REVAP, with delivery to Braskem’s PP3 and PP4 industrial units, respectively. This agreement is in force from January 1, 2022 to May 3, 2028 for the first 120 kton/year and from May 4, 2028 to June 30, 2029 for the remaining 40 kton/year. The maximum amount of the agreement is estimated at R$ 4.7 - Refinaria Planalto de Paulínia (“REPLAN”) In December 2021, the Company entered into a purchase agreement with Petrobras for 220 kton per year of polymer-grade propylene from REPLAN, with delivery to Braskem’s PP3 industrial unit (“PP3”) in Paulínia, São Paulo. The agreement is in force from January 1, 2022 to May 3, 2028. The maximum amount of the agreement is estimated at R$ 8.1 - Refinaria Presidente Getúlio Vargas (“REPAR”) In December 2021, the Company entered into a purchase agreement with Petrobras for 150 kton per year of polymer-grade propylene from REPAR, with delivery to Braskem’s PP3 and PP4 industrial units. The agreement is in force from January 1, 2022 to December 6, 2029. The maximum amount of the agreement is estimated at R$ 6.8 - Companhia de Gás da Bahia (“Bahiagás”) In December 2021, the Company entered into an amendment to the agreement governing the supply of natural gas by Bahiagás to Braskem, via local gas pipeline, effective until December 2022. The estimated amount of the amendment is R$752 million. - Companhia de Gás do Estado do Rio Grande do Sul (“Sulgás”) In March 2022, the Company entered into the agreement with Sulgás to acquire natural gas, via a local gas distribution pipeline, its terms to June 2023. The estimated amount of the amendment is R$270 million. - Gás de Alagoas S.A. (“Algás”) In March 2022, the Company entered into an amendment with Algás for the supply of natural gas to Braskem units located in the state of Alagoas, via a local gas distribution pipeline, its terms to December 2024. The estimated value of the amendment is R$1.5 billion. Since July 2022, Petrobras has no more equity interest in Bahiagás, Sulgás and Algás and, upon which they ceased to be a related party to Braskem. Non-controlling shareholders of Braskem Idesa: - Grupo Idesa, S.A. de C.V. - Etileno XXI, S.A. de C.V. Loan payable to the non-controlling shareholders of Braskem Idesa, with maturity in December 2029 and contractual interest rate of 7% p.a. These funds were used by Braskem Idesa to finance the construction of its operational assets. (b) Key management personnel compensation The expenses related to the remuneration of key management personnel, including the Board of Directors, the Chief Executive Officer and vice-presidents, recorded in the profit or loss for the year, are shown as follows: Schedule of key management personnel Statement of profit or loss transactions 2022 2021 2020 Remuneration Short-term benefits 83,466 119,734 74,943 Post-employment benefit 1,636 2,121 961 Long term incentive plan 16,938 14,394 7,456 Total 102,040 136,249 83,360 Compensation of the Company’s key management personnel includes salaries, short and long-term incentives, non-cash benefits and contributions to a post-employment defined benefit plan (see Note 27). |
Taxes recoverable
Taxes recoverable | 12 Months Ended |
Dec. 31, 2022 | |
Taxes Recoverable | |
Taxes recoverable | 10 Taxes recoverable Schedule of taxes recoverable 2022 2021 Parent Company and subsidiaries in Brazil Value-added tax on sales and services (ICMS) 410,138 291,424 ICMS - credits from PP&E 302,940 224,308 Social integration program (PIS) and social contribution on revenue (Cofins) (a) 560,002 250,491 PIS and Cofins - credits from PP&E 546,427 447,476 REINTEGRA program 20,504 21,764 Federal tax credits (b) 153,960 948,448 Other 68,514 89,205 Foreign subsidiaries Value-added tax ("IVA") 579,672 348,021 Other 131,867 59,579 Total 2,774,024 2,680,716 Current assets 1,156,355 1,428,658 Non-current assets 1,617,669 1,252,058 Total 2,774,024 2,680,716 (a) PIS and COFINS Complementary Law 194/2022 was published, which reduced to zero the rates of the contributions levied on sales of fuels, which increased the respective credits. (b) Federal tax credits Up to December 31, 2021, the balance was primarily composed of federal tax credits related to exclusion of ICMS from the PIS and Cofins tax calculation base. As of December 31, 2022, of the total tax credit recorded by the Company related to this tax, since 2019, R$ 5,093,151 |
Investments
Investments | 12 Months Ended |
Dec. 31, 2022 | |
Investments Abstract | |
Investments | 11 Investments See the accounting policy in Note 2.3 Basis of Consolidation. (a) Information on investments Schedule of Information on investments Net profit (loss) for the year Equity 2022 2021 2020 2022 2021 Jointly-controlled investment RPR (i) 76,450 312 (63,525) 110,040 50,064 Bioglycols LLC (ii) (3,977) - 80,757 - Associate Borealis (iii) 53,617 45,490 6,019 252,053 205,568 (i) RPR's main activities are the refining, processing and sale and import of oil, its byproducts and correlated products. The percentage of Braskem's equity interest in the capital of RPR on December 31, 2022 is 33.20 33.20 (ii) Bioglycols was incorporated in March 2022, which currently is in the pre-operational phase. Its main activities will be the production and marketing of monoethylene glycol (MEG) and monopropylene glycol (MPG). (iii) Borealis' main activities are the production and commercialization of petrochemical byproducts and correlated products. The percentage of Braskem's ownership interest in the capital of Borealis on December 31, 2022 is 20 20 (b) Changes in investments Schedule of Changes in investments Borealis RPR Bioglycols LLC Other Total Balance at 2020 32,272 10,697 - 184 43,153 Dividends and interest on equity (295) - (295) Equity in results of investees 9,136 103 - 9,239 Other comprehensive income 5,825 5,825 Other 1,001 1,001 Balance at 2021 41,113 16,625 – 1,185 58,923 Dividends and interest on equity (5,013) (4,296) (9,309) Equity in results of investees 11,296 25,384 (1,832) 34,848 Other comprehensive income (1,174) 1,299 (788) (663) Capital increase 41,908 23,061 64,969 Other 255 255 Balance at 2022 47,396 36,539 41,375 23,713 149,023 (c) Impact on the consolidation of Braskem Idesa The Company presents the financial information of the subsidiary Braskem Idesa, which holds a non-controlling interest with material effects on the Company’s consolidated statements: Schedule of financial information of the subsidiary in which the non-controlling shareholder holds interests Statement of Financial Position Consolidated Braskem without the effect off Braskem Idesa consolidated Consolidated Braskem Idesa (i) Eliminations Consolidated 2022 2021 2022 2021 2022 2021 2022 2021 Assets Curent Cash and cash equivalents 10,282,142 6,907,355 2,184,332 1,773,331 - - 12,466,474 8,680,686 Financial investments 2,295,497 3,492,710 - - - - 2,295,497 3,492,710 Trade accounts receivable 3,621,335 6,607,762 73,195 1,225,479 (462,596) (679,676) 3,231,934 7,153,565 Inventories 12,921,617 15,325,001 1,108,447 1,010,100 - - 14,030,064 16,335,101 Taxes recoverable 905,844 1,402,100 250,511 26,558 - - 1,156,355 1,428,658 Recoverable income taxes 392,062 1,189,812 - - - - 392,062 1,189,812 Derivatives 157,906 33,816 - - - - 157,906 33,816 Other receivables 628,447 841,473 68,544 137,624 30,373 - 727,364 979,097 Total current assets 31,204,850 35,800,029 3,685,029 4,173,092 (432,223) (679,676) 34,457,656 39,293,445 Non-current Taxes recoverable 1,328,695 983,655 288,974 268,403 - - 1,617,669 1,252,058 Recoverable income taxes 252,995 230,069 - - - - 252,995 230,069 Deferred tax assets 6,671,492 6,481,642 488,116 1,775,610 (801,007) - 6,358,601 8,257,252 Related parties 7,250,756 10,064,320 - - (ii) (7,250,756) (10,064,320) - - Derivatives 71,544 51 - - - - 71,544 51 Judicial deposits 215,274 194,212 - - - - 215,274 194,212 Other receivables 187,107 370,928 563 24,964 - - 187,670 395,892 Investments 149,023 58,923 - - - - 149,023 58,923 Property, plant and equipment 24,319,015 23,510,588 14,126,939 14,483,720 (iii) (682,659) (769,178) 37,763,295 37,225,130 Intangible 2,730,124 2,572,675 292,020 304,624 - - 3,022,144 2,877,299 Right of use of assets 3,638,507 2,427,633 910,900 352,404 (v) (596,420) - 3,952,987 2,780,037 Total non current assets 46,814,532 46,894,696 16,107,512 17,209,725 (9,330,842) (10,833,498) 53,591,202 53,270,923 Total assets 78,019,382 82,694,725 19,792,541 21,382,817 (9,763,065) (11,513,174) 88,048,858 92,564,368 Liabilities and shareholders' equity Current Trade payables 11,418,031 11,861,563 1,291,347 871,379 (462,596) (679,676) 12,246,782 12,053,266 Borrowings 1,254,550 1,343,494 - - - - 1,254,550 1,343,494 Debentures 127,801 59,088 - - - - 127,801 59,088 Braskem Idesa Borrowings - - 868,635 86,765 - - 868,635 86,765 Payroll and related charges 789,441 1,095,040 38,385 75,306 - - 827,826 1,170,346 Taxes payable 481,729 1,003,813 9,322 8,303 - - 491,051 1,012,116 Income taxes payable 381,117 1,672,844 - - - - 381,117 1,672,844 Lease 955,225 598,523 195,518 76,843 (v) (111,037) - 1,039,706 675,366 Provision - geological event in Alagoas 4,247,609 4,378,071 - - - - 4,247,609 4,378,071 Other payables 2,645,828 2,495,544 24,283 246,623 30,059 - 2,700,170 2,742,167 Total current liabilities 22,301,331 24,507,980 2,427,490 1,365,219 (543,574) (679,676) 24,185,247 25,193,523 Non-current Loan agreements 31,310,710 33,553,766 - - - - 31,310,710 33,553,766 Braskem Idesa Borrowings - - 10,501,683 12,224,770 - - 10,501,683 12,224,770 Debentures 3,023,674 137,830 - - - - 3,023,674 137,830 Accounts payable to related parties - - 7,175,837 10,134,287 (ii) (7,175,837) (10,134,287) - - Loan to non-controlling shareholders of Braskem Idesa - - 2,498,093 3,646,538 - - 2,498,093 3,646,538 Deferred tax liabilities 904,521 1,407,434 1,049,967 - (801,007) - 1,153,481 1,407,434 Provision for losses on subsidiaries 4,094,535 5,284,666 - - (iv) (4,094,535) (5,284,666) - - Lease 2,942,284 2,147,745 746,285 333,303 (v) (487,745) - 3,200,824 2,481,048 Provision - geological event in Alagoas 2,378,949 3,283,188 - - - - 2,378,949 3,283,188 Other payables 3,590,317 4,406,733 97,663 25,710 - - 3,687,980 4,432,443 Total non current liabilities 48,244,990 50,221,362 22,069,528 26,364,608 (12,559,124) (15,418,953) 57,755,394 61,167,017 Shareholders' equity Attributable to the Company's shareholders 7,321,798 7,865,819 (4,704,477) (6,347,010) 4,704,478 6,347,010 7,321,799 7,865,819 Non-controlling interest in subsidiaries 151,263 99,564 - - (1,364,845) (1,761,555) (1,213,582) (1,661,991) Total shareholders equity 7,473,061 7,965,383 (4,704,477) (6,347,010) 3,339,633 4,585,455 6,108,217 6,203,828 Total liabilities and shareholders' equity 78,019,382 82,694,725 19,792,541 21,382,817 (9,763,065) (11,513,174) 88,048,858 92,564,368 (i) Consolidation of Braskem Idesa with its subsidiaries Braskem Idesa Servicios and Terminal Química. (ii) Loan from Braskem Holanda to the Braskem Idesa project. (iii) Adjustment corresponding to the capitalization of a portion of financial charges of the abovementioned loan. (iv) Provision recorded in the subsidiary Braskem Holanda for the negative shareholders' equity of Braskem Idesa. (v) Sublease agreed between the subsidiary Braskem Holanda and Braskem Idesa. Statement of profit or loss Consolidated Braskem without the effect of Braskem Idesa consolidated Consolidated Braskem Idesa Eliminations Consolidated 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 Net revenue 93,038,949 101,448,155 55,779,528 5,953,229 6,333,199 4,046,581 (2,472,894) (2,156,153) (1,282,615) 96,519,284 105,625,201 58,543,494 Cost of products sold (82,624,987) (72,471,291) (45,563,723) (5,074,693) (3,321,601) (3,112,129) 2,539,132 2,224,661 1,344,438 (85,160,548) (73,568,231) (47,331,414) Gross profit 10,413,962 28,976,864 10,215,805 878,536 3,011,598 934,452 66,238 68,508 61,823 11,358,736 32,056,970 11,212,080 Income (expenses) Selling and distribution (1,890,181) (1,834,303) (1,609,844) (218,236) (221,337) (242,211) – – – (2,108,417) (2,055,640) (1,852,055) (Loss) reversals for impairment of trade accounts receivable (38,248) (8,736) (55,074) (178) (178) (178) – – – (38,426) (8,914) (55,252) General and administrative (2,545,044) (2,292,884) (1,739,541) (216,098) (229,334) (179,350) (2,841) 91 144 (2,763,983) (2,522,127) (1,918,747) Research and development (374,493) (296,583) (250,648) – – – – – – (374,493) (296,583) (250,648) Results from equity-accounted investees (1,078,115) (82,709) (1,026,922) 7 – – 1,112,956 87,353 1,007,524 34,848 4,644 (19,398) Other income 505,629 1,530,443 748,923 1,704 4,044 1,826 – – – 507,333 1,534,487 750,749 Other expenses (2,305,411) (2,651,425) (7,573,874) (38,114) (17,865) (364,747) - - - (2,343,525) (2,669,290) (7,938,621) Operating profit 2,688,099 23,340,667 (1,291,175) 407,621 2,546,928 149,792 1,176,353 155,952 1,069,491 4,272,073 26,043,547 (71,892) Financial results Financial expenses (5,013,176) (4,750,895) (3,851,233) (1,817,551) (1,618,020) (1,505,628) 1,168,034 461,760 443,496 (5,662,693) (5,907,155) (4,913,365) Financial income 2,558,268 2,276,312 1,032,530 610,792 12,886 11,150 (1,158,926) (461,760) (443,496) 2,010,134 1,827,438 600,184 Exchange rate variations, net (643,377) (2,884,292) (4,823,269) 235,314 (1,164,697) (482,125) (164,107) 46,182 6,683 (572,170) (4,002,807) (5,298,711) Finance income (cost) (3,098,285) (5,358,875) (7,641,972) (971,445) (2,769,831) (1,976,603) (154,999) 46,182 6,683 (4,224,729) (8,082,524) (9,611,892) (Loss) profit before income tax and social contribution (410,186) 17,981,792 (8,933,147) (563,824) (222,903) (1,826,811) 1,021,354 202,134 1,076,174 47,344 17,961,023 (9,683,784) Income taxes 95,651 (3,991,055) 2,253,684 (963,386) (8,348) 414,794 - - - (867,735) (3,999,403) 2,668,478 (Loss) net profit for the year (314,535) 13,990,737 (6,679,463) (1,527,210) (231,251) (1,412,017) 1,021,354 202,134 1,076,174 (820,391) 13,961,620 (7,015,306) Statement of cash flows Consolidated Braskem without the effect of Braskem Idesa consolidated Consolidated Braskem Idesa Eliminations Consolidated 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 (Loss) profit before taxes (410,186) 18,348,774 (8,933,147) (563,824) (222,903) (1,826,811) 1,021,354 (164,848) 1,076,174 47,344 17,961,023 (9,683,784) Adjustments for reconciliation of profit (loss) – – – Depreciation and amortization 3,944,259 3,432,816 2,995,609 901,194 796,861 1,114,439 (112,288) (51,244) (61,967) 4,733,165 4,178,433 4,048,081 Results from equity-accounted investees 1,078,108 (78,567) 1,026,922 – – – (1,112,956) 73,923 (1,007,524) (34,848) (4,644) 19,398 Interest and monetary and exchange variations, net 1,788,259 3,604,357 8,541,980 759,378 2,564,905 1,921,975 154,999 142,169 (6,683) 2,702,636 6,311,431 10,457,272 Reversal of provisions 370,153 819,130 336,838 – – – – – – 370,153 819,130 336,838 Provision - geological event in Alagoas 1,520,019 1,339,765 6,901,828 – – – – – – 1,520,019 1,339,765 6,901,828 PIS and Cofins credits - exclusion of ICMS from the calculation basis – (1,031,099) (310,557) – – – – – – – (1,031,099) (310,557) Loss for impairment of trade accounts receivable 38,426 10,134 55,252 – (1,220) – – – – 38,426 8,914 55,252 Provision for losses and write-offs of long-lived assets 130,366 114,148 8,794 629 1,039 – – – – 130,995 115,187 8,794 Adjustments for reconciliation of profit 8,459,404 26,559,458 10,623,519 1,097,377 3,138,682 1,209,603 (48,891) – – 9,507,890 29,698,140 11,833,122 Changes in operating working capital – – – – – – Judicial deposits - unfreezing (blocking) Public Civil Action – – 3,746,107 – – – – – – – – 3,746,107 Financial investments 1,530,050 296,957 (1,860,827) – – – – – – 1,530,050 296,957 (1,860,827) Trade accounts receivable 2,751,788 (1,739,822) (2,247,729) 1,126,559 (619,688) (152,971) (217,080) 184,225 212,874 3,661,267 (2,175,285) (2,187,826) Inventories 2,246,770 (7,176,104) (309,492) (108,609) (398,181) 56,958 – – – 2,138,161 (7,574,285) (252,534) Taxes recoverable 928,181 4,958,779 1,584,911 (245,724) 4,808 (52,357) – – – 682,457 4,963,587 1,532,554 Prepaid expenses – – (172,027) – – 465,812 – – – – – 293,785 Other receivables 297,209 (269,721) 44,513 13,580 71,165 352,590 – – – 310,789 (198,556) 397,103 Trade payables (73,230) 955,475 (2,926,585) 370,229 428,364 137,895 217,080 (184,225) (212,874) 514,079 1,199,614 (3,001,564) Taxes payable (1,085,427) (2,878,056) 965,191 76,071 (129,432) (515,430) – – – (1,009,356) (3,007,488) 449,761 Advances from customers – – 224,764 – – (25,776) – – – – – 198,988 Leniency agreement (317,867) (389,087) (349,842) - – – – – – (317,867) (389,087) (349,842) Sundry provisions (219,313) (482,565) (158,915) (187,274) 168,371 13,560 – – – (406,587) (314,194) (145,355) Geological event in Alagoas (2,742,791) (2,928,081) (1,181,931) - – – – – – (2,742,791) (2,928,081) (1,181,931) Other payables (384,838) 823,515 (217,997) (5,889) (18,063) 33,810 – – – (390,727) 805,452 (184,187) Cash generated from operations 11,389,936 17,730,748 7,763,660 2,136,320 2,646,026 1,523,694 (48,891) – – 13,477,365 20,376,774 9,287,354 Interest paid (2,118,043) (2,207,196) (1,946,931) (786,836) (676,237) (789,890) – – – (2,904,879) (2,883,433) (2,736,821) Income taxes (1,620,616) (2,697,829) (252,479) (131) (9,027) (5,063) – – – (1,620,747) (2,706,856) (257,542) Net cash generated by operating activities 7,651,277 12,825,723 5,564,250 1,349,353 1,960,762 728,741 (48,891) – – 8,951,739 14,786,485 6,292,991 Proceeds from the sale of fixed assets and intangible assets 2,438 40,353 33,140 – – – – – 2,438 40,353 33,140 Additions to investment in subsidiaries (107,090) – – – – (107,090) – – Dividends received 5,660 295 4,822 – – – – – 5,660 295 4,822 Acquisitions to property, plant and equipment and intangible assets (4,153,707) (3,249,132) (2,653,009) (694,574) (172,192) (106,780) – – – (4,848,281) (3,421,324) (2,759,789) Net cash used in investing activities (4,252,699) (3,208,484) (2,615,047) (694,574) (172,192) (106,780) – – – (4,947,273) (3,380,676) (2,721,827) Short-term and long-term debt Acquired 6,418,208 16,308 13,049,459 - – – – – – 6,418,208 16,308 13,049,459 Payments (3,855,662) (9,413,909) (8,734,505) - – – – – – (3,855,662) (9,413,909) (8,734,505) Braskem Idesa borrowings – – – Acquired – – - 7,271,658 – – – – 7,271,658 – Payments – – (45,311) (7,995,045) (905,210) – – (45,311) (7,995,045) (905,210) Related parts – 216,862 (34,122) (226,407) – – (34,122) (9,545) – Loan to non-controlling shareholders of Braskem Idesa - payment (37,618) – – (37,618) Lease (836,718) (787,932) (610,392) (141,063) (53,774) (51,676) 48,891 – – (928,890) (841,706) (662,068) Dividends paid (1,350,293) (5,993,265) (2,380) – – – – – – (1,350,293) (5,993,265) (2,380) Non-controlling interest in subsidiaries 21,162 – (534,456) – – – – – – 21,162 – (534,456) Cash generated (used) in financing activities 396,697 (15,961,936) 3,167,726 (220,496) (1,003,568) (994,504) 48,891 – – 225,092 (16,965,504) 2,173,222 Exchange variation on cash of foreign subsidiaries (420,488) 293,633 1,054,845 (23,282) 83,896 259,741 – – – (443,770) 377,529 1,314,586 Increase in cash and cash equivalents 3,374,787 (6,051,064) 7,171,774 411,001 868,898 (112,802) - - - 3,785,788 (5,182,166) 7,058,972 Represented by Cash and cash equivalents at the beginning for the period 6,907,355 12,958,419 5,786,645 1,773,331 904,433 1,017,235 – – – 8,680,686 13,862,852 6,803,880 Cash and cash equivalents at the end for the period 10,282,142 6,907,355 12,958,419 2,184,332 1,773,331 904,433 – – – 12,466,474 8,680,686 13,862,852 Increase in cash and cash equivalents 3,374,787 (6,051,064) 7,171,774 411,001 868,898 (112,802) - - - 3,785,788 (5,182,166) 7,058,972 |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2022 | |
Property, plant and equipment [abstract] | |
Property, plant and equipment | 12 Property, plant and equipment Items of property, plant and equipment are measured at the historical cost of acquisition or construction, which includes capitalized borrowing costs, less accumulated depreciation and any accumulated impairment losses. The machinery, equipment and facilities require inspections, replacement of components and maintenance at regular intervals. The Company makes shutdowns at regular intervals that vary from two to six years to perform these activities. Depreciation starts when the assets become available and is calculated using the straight-line method, based on the useful life estimated by the Company’s technicians in the management of the plants. The useful lives of assets are reviewed at each reporting date. The main factors taken into consideration in the definition of the useful life of the assets that compose the Company’s industrial plants are the information of manufacturers of machinery and equipment, level of the plants’ operations, quality of preventive and corrective maintenance and the prospects of technological obsolescence of assets. The estimated useful lives applied to the assets determined the following average percentage of rates per year: Schedule of estimated useful lives 2022 2021 Buildings and improvements 3.03 2.92 Machinery, equipment and installations 7.32 6.74 Furniture and fixtures 10.06 10.06 IT equipment 21.03 21.18 Lab equipment 9.59 9.53 Security equipment 10.50 10.04 Vehicles 19.51 18.82 Other 18.09 17.05 Borrowing costs are capitalized when associated with ongoing projects, using: (i) the average rate of the financings; and (ii) the exchange variation portion that corresponds to any positive difference between the average rate of financing in the domestic market and the rate cited in item (i). In 2022, capitalized borrowing costs amounted to R$ 203,135 192,207 8.51 8.33 As of December 31, 2022, the acquisition of property, plant and equipment with payment installments is R$ 525,192 295,056 (a) Reconciliation of carrying amount Schedule of reconciliation of carrying amount Land Buildings and Improvements Machinery, Equipment and Facilities Projects and Stoppage in Progress (i) Other Total Cost 683,031 8,281,424 53,401,832 4,389,105 2,038,666 68,794,058 Accumulated depreciation and amortization - (3,159,185) (28,268,867) - (1,436,857) (32,864,909) Balance as of December 31, 2020 683,031 5,122,239 25,132,965 4,389,105 601,809 35,929,149 Acquisitions - 338 160,297 3,388,078 3,421 3,552,134 Capitalized financial charges - - - 192,207 - 192,207 Foreign currency translation adjustment Cost 17,046 287,866 1,118,655 74,428 23,859 1,521,854 Depreciation - (88,406) (313,267) - (16,760) (418,433) Transfers by concluded projects 244 13,965 3,207,833 (3,412,665) 190,623 - Transfers to inventory - - - (16,838) - (16,838) Transfers to intangible - 31,495 (11,673) (73,397) (11,847) (65,422) Disposals Cost (10,856) 9,723 (353,274) (91,485) (41,066) (486,958) Depreciation - 168 387,005 - 9,206 396,379 Depreciation - (195,900) (3,038,176) - (143,164) (3,377,241) Transfers to "non-current assets held for sale" (1,701) - (2) - 2 (1,701) Transfers Others - 118,629 (40,095) (78,534) Net book value 687,764 5,181,488 26,408,992 4,409,338 537,549 37,225,130 Cost 687,764 8,591,020 57,535,343 4,449,433 2,215,503 73,479,063 Accumulated depreciation - (3,409,532) (31,126,351) (40,095) (1,677,954) (36,253,933) Balance as of December 31, 2021 687,764 5,181,488 26,408,992 4,409,338 537,549 37,225,130 Acquisitions - 1,709 296,719 4,643,953 7,603 4,949,985 Additions through acquisition of ER Plastics - 20,868 56,288 - 362 77,518 Capitalized financial charges - - - 203,135 - 203,135 Foreign currency translation adjustment - Cost (19,916) (173,496) (941,271) (38,966) (28,592) (1,202,241) Depreciation - 51,263 285,016 - 20,269 356,548 Transfers by concluded projects - 86,609 2,688,220 (2,915,496) 140,667 – Transfers to intangible - - - (13,597) - (13,597) Disposals - Cost (3) (7) (926,944) (20,665) (16,689) (964,308) Depreciation - - 815,220 - 13,715 828,934 Depreciation - (203,358) (3,347,376) - (147,074) (3,697,809) Net book value 667,845 4,965,077 25,334,863 6,267,702 527,809 37,763,295 Cost 667,845 8,526,704 58,708,355 6,307,797 2,318,854 76,529,554 Accumulated depreciation - (3,561,627) (33,373,492) (40,095) (1,791,045) (38,766,259) Balance as of December 31, 2022 667,845 4,965,077 25,334,863 6,267,702 527,809 37,763,295 (i) As of December 31, 2022, the main amounts recorded under this item corresponded to expenditures with scheduled maintenance shutdowns at plants in the amount of R$2,343,313 (2021: R$1,473,396), capitalized financial charges in the amount of R$365,374 (2021: R$237,519), inventories of spare parts in the amount of R$566,873 (2021: R$534,875), strategic projects ongoing in Brazil in the amount of R$713,813 (2021: R$351,657) and in Braskem America in the amount of R$126,055 (2021: R$136,342). The remainder corresponds mainly to projects for maintaining the production capacity of plants. Property, plant and equipment by country Schedule of property plant and equipment by country 2022 2021 Brazil 17,204,824 15,867,387 Mexico 13,444,279 13,714,543 United States of America 6,729,469 7,281,077 Germany 294,612 356,288 Netherland 89,841 5,691 Other 270 144 37,763,295 37,225,130 (b) Impairment loss Annually, or whenever there is any indication that an asset has suffered devaluation, the Company conducts an analysis to determine if there are indicators that the book value of property, plant and equipment may not be recoverable. This analysis is conducted to assess the existence of scenarios that could adversely affect its cash flow and, consequently, its ability to recover the investment in such assets. These scenarios arise from issues of a macroeconomic, legal, competitive, or technological nature. The following are considered by the Company as relevant points and are observed in this analysis: (i) the possibility of an oversupply of products manufactured by the Company or of a significant reduction in demand due to adverse economic factors; (ii) the prospects of material fluctuations in the prices of products and inputs; (iii) the likelihood of the development of new technologies or raw materials that could materially reduce production costs and consequently impact sales prices, ultimately leading to the full or partial obsolescence of the industrial facilities of the Company; and (iv) changes in the general regulatory environment that make the production process of Braskem infeasible or that significantly impact the sale of its products. The recoverable value of an asset or Cash Generating Unit (“CGU”) is the greatest of the value in use and its fair value less sales costs. The value in use is based on estimated future cash flows, discounted to present value using a discount rate before tax that reflects the current market assessments of the time value of money and the specific risks related to the asset or CGU. When identifying whether cash inflows from an asset (or group of assets) are largely independent of cash inflows from other assets (or groups of assets), the Company considers several factors, such as: product lines, individual locations and the way Management monitors and makes decisions about its business. No events indicated that the carrying amount exceeds its recoverable amount as of December 31, 2022 and 2021. |
Intangible assets
Intangible assets | 12 Months Ended |
Dec. 31, 2022 | |
Intangible Assets | |
Intangible assets | 13 Intangible assets Schedule of changes in intangible assets Customers Brands Software and Suppliers Goodwill and Patents licenses Agreements Total Cost 3,187,678 499,515 1,010,201 392,246 5,089,640 Accumulated amortization (1,128,804) (214,455) (683,157) (234,533) (2,260,949) Balance as of December 31, 2020 2,058,874 285,060 327,044 157,713 2,828,691 Acquisitions - 670 67,686 420 68,776 Foreign currency translation adjustment - 14,271 Cost - 12,443 13,023 - 25,466 Amortization - (2,711) (8,484) - (11,195) Transfers from property, plant and equipment - 28,770 36,652 - 65,422 Other write-offs, net of amortization - - (3,393) - (3,393) Amortization - (10,444) (64,008) (22,016) (96,468) Net book value 2,058,874 313,789 368,520 136,117 2,877,299 Cost 3,187,678 549,196 1,123,619 392,666 5,253,159 Accumulated amortization (1,128,804) (235,408) (755,099) (256,549) (2,375,860) Balance as of December 31, 2021 2,058,874 313,789 368,520 136,117 2,877,299 Acquisitions - 1,307 144,930 913 147,150 Additions through acquisition of ER Plastics - 21,162 - 66,571 87,733 Goodwill acquisition of ER Plastics 28,402 - - - 28,402 Foreign currency translation adjustment - - - Cost - (7,407) (19,762) - (27,170) Amortization - 2,711 14,440 - 17,150 Transfers from property, plant and equipment - - 13,597 - 13,597 Other write-offs, net of amortization - - (10,011) - (10,011) Amortization - (10,575) (79,774) (21,659) (112,008) Net book value 2,087,276 320,986 431,939 181,943 3,022,144 Cost 3,216,080 564,258 1,252,373 460,150 5,492,861 Accumulated amortization (1,128,804) (243,272) (820,434) (278,207) (2,470,717) Balance as of December 31, 2022 2,087,276 320,986 431,939 181,943 3,022,144 (a) Goodwill Goodwill is measured as the excess between the consideration transferred and to be transferred to obtain control and the fair value of the identified assets and liabilities assumed from the acquired entity. Goodwill is allocated to the CGUs or groups of assets that are expected to benefit from the synergies of the business combination. Goodwill arising before the adoption of the IFRS pronouncements was amortized in the accounting books until December 2008. From 2009 on, it has been subjected to annual impairment tests. Impairment testing is based on estimated cash generation in each CGU or groups of assets, extracted from the Company’s five-year Business Plan (see Note 22.2) and from the Management plan for a period greater than 5 years to reflect the industry cycle patterns, with a total projection period of 10 years. Perpetuity is also calculated based on the long-term vision and excluding real growth. Cash flows and perpetuity are adjusted to present value at a discount rate based on the Weighted Average Cost of Capital (“WACC”). The table below shows the results obtained in the tests conducted by the Company in December 2022: Schedule of goodwill impairment testing Allocated Recoverable Book Discount goodwill amount value (i) CF/Book value rate Northeastern petrochemical complex 475,780 7,305,045 3,124,332 2.3 14.68 Southern petrochemical complex 1,390,741 20,840,873 6,781,881 3.1 15.85 Vinyls 192,353 5,050,166 2,880,156 1.8 14.70 (i) The book value includes, in addition to goodwill, property, plant and equipment and intangible assets with defined useful lives and working capital. The inflation rate considered for perpetuity was 3 Given the potential impact on cash flows of the “discount rate” and “perpetuity”, the Company conducted a sensitivity analysis based on changes in these variables, with cash flows shown in the table below: Schedule of potential impact on cash flows of the discount rate and perpetuity +0.5% on -0.5% on discount rate perpetuity CGU Northeastern petrochemical complex 6,822,642 7,044,458 Southern petrochemical complex 19,744,124 20,351,277 Vinyls 4,741,224 4,930,076 The main assumptions used for projecting cash flows are related to the projection of macroeconomic indicators, international prices, and global and local demand in the countries where the Company has operational plants. Macroeconomic indicators include items such as: foreign exchange rates, inflation, and interest rates, among others. Prices for key petrochemical products are obtained from a specialized third-party consulting firm, drawing on projections reviewed and supplemented based on Management’s experience. Final prices take into consideration the meetings of specific internal committees and the knowledge of the Company’s experts in preparing the benchmarks for each market. Similar to prices, indicators for global demand also are prepared with specialized consulting firms. In the markets where the Company operates more directly, they consider additional variables for the local demand composition. (b) Intangible assets with definite useful lives These intangible assets are measured at historical cost of acquisition or at fair value when acquired in a business combination, deducted from accumulated amortization and, if applicable, accumulated impairment loss. Subsequent costs are capitalized only when they increase the future economic benefits incorporated into the specific asset to which they are related. Amortization is calculated using the straight-line method based on the estimated useful life of the items, and reviewed every reporting date, as follows, for consolidated purposes: Schedule of amortization estimated useful life - Brands and patents 10 20 - Software licenses and rights of use 5 10 - Customers and suppliers’ agreements 14 28 Expenditure on research activities is recognized in profit or loss as incurred. Development expenditure is capitalized only when the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Company intends to and has sufficient resources to complete development and to use or sell the asset. Based on Management’s assessment, there were no events indicating that the carrying amount exceeds its recoverable amount as of December 31, 2022 and 2021. (c) Intangible assets by country Schedule of intangible assets by country 2022 2021 Brazil 2,571,011 2,526,999 Mexico 292,020 304,624 Netherland 122,447 United States of America 22,820 24,404 Germany 13,839 21,253 Other 7 19 3,022,144 2,877,299 |
Right-of-use assets and lease l
Right-of-use assets and lease liability | 12 Months Ended |
Dec. 31, 2022 | |
Right-of-use Assets And Lease Liability | |
Right-of-use assets and lease liability | 14 Right-of-use assets and lease liability The Company assesses whether a contract is or contains a lease if the contract transfers the right to control the use of an asset identified for a period in exchange for consideration. The Company leases various offices, railcars, vessels, pieces of equipment and vehicles. Such leases are negotiated individually and are subject to various terms and conditions. As a lessee, the Company, to determine the enforceable term of the lease, considers all facts and circumstances that create an economic incentive for exercising the option to extend the lease. (a) Right-of-use assets Leases are recognized as a right-of-use asset and a corresponding liability on the date on which the leased asset becomes available to the Company. The right-of-use asset is measured at the cost composed of: • The amount initially measured of the lease liabilities; • Any payment made up to the start of the lease, deducting any incentive received; • Any initial direct cost; and • Renovation costs. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Company by the end of the lease term or the cost of the right-of-use asset reflects that the Company will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. Changes in right-of-use assets: Schedule of changes in right-of-use assets Balance as of Foreign currency Balance as of 31/12/2021 Acquisitions Depreciation Disposal translation adjustment 31/12/2022 Rail cars 986,061 72,506 (173,272) (5,359) (53,740) 826,196 Machinery and equipment 793,254 1,147,145 (330,971) (5,970) (804) 1,602,654 Vessels 696,661 811,372 (385,968) - (1,793) 1,120,272 Buildings and constructions 265,312 102,040 (75,319) - (213) 291,820 Vehicles 29,449 102,827 (26,158) - (120) 105,998 Computer equipment and goods 9,300 417 (3,590) - (80) 6,047 Total 2,780,037 2,236,307 (995,278) (11,329) (56,750) 3,952,987 Balance as of Foreign currency Balance as of 12/31/2020 Acquisitions Depreciation Disposal translation adjustment 31/12/2021 Rail cars 1,007,336 102,648 (187,915) - 63,992 986,061 Machinery and equipment 749,728 281,113 (207,985) (30,245) 643 793,254 Vessels 834,848 258,201 (399,677) - 3,289 696,661 Buildings and constructions 259,896 52,897 (52,997) (6,333) 11,849 265,312 Vehicles 33,888 51,171 (24,078) (31,667) 135 29,449 Computer equipment and goods 16,699 542 (4,334) (3,682) 75 9,300 Total 2,902,395 746,573 (876,986) (71,928) 79,983 2,780,037 In 2022, the expense related to the short-term and low-value leases was R$ 42 7.2 To optimize lease costs during the lease term, the Company must provide guaranteed residual amounts for the leased asset. For certain lease agreements for rail cars, the Company guaranteed any difference between the flow of contractual payments and the fair value of these assets upon the end of the enforceable term, limited to R$ 65,529 70,085 (b) Lease liability The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease, or if that rate cannot be readily determined, the Company’s incremental borrowing rate. The lease liability considers the net present value of the following lease payments: • Fixed payments discounting any incentive received; • Variable payments based on rates or indexes; • Expected payables to the lessor referring to the guaranteed residual amount; • Exercise price of a purchase option, if it is reasonably certain that lessee will exercise such option; and • Payment of fines for termination of the lease if the contractual terms provide for lessee’s exercise option. The Company’s incremental borrowing rate corresponds to the one the Company would have pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use in a similar economic environment. The weighted average incremental rate applied in 2022 was 5.8 5.18 Changes in lease liabilities: Schedule of changes in lease liabilities 2022 2021 As of December 31 3,156,414 3,207,886 Acquired 2,232,043 746,573 Additions through acquisition of ER Plastics 4,264 Disposals (12,568) (50,473) Interests and monetary and exchange variations, net 83,871 206,375 Currancy translation adjustments (73,585) 85,984 Payments (928,890) (841,706) Interest paid (221,019) (198,225) As of December 31 4,240,530 3,156,414 Current liability 1,039,706 675,366 Non-current liability 3,200,824 2,481,048 Total 4,240,530 3,156,414 The table below presents the obligations (minimum annual commitments) related to undiscounted lease agreements, by maturity, and therefore may not correspond to the respective operations in the statement of financial position. Schedule of payment schedule by maturity 2022 2021 2022 777,410 2023 1,109,048 633,141 2024 855,803 493,147 2025 630,074 399,924 2026+ 2,388,252 1,073,620 Total 4,983,177 3,377,242 (c) Extension Options Some leases contain extension options that can be exercised by the Company. The extension options held are exercised only by the Company and not by the lessors. The Company assesses at lease commencement date whether it is reasonably certain to exercise the options if there is a significant event or significant changes in circumstances within its control. (d) Non-cash transactions In 2022, non-cash transactions are R$ 1,909,816 565,774 (e) Uninitiated lease arrangements The Company has committed to lease agreements not yet effective as of December 31, 2022. The present value of the commitments corresponds to R$ 546 (i) construction of two vessels for ethane gas transportation; and (ii) a research and development laboratory located in Boston, United States. All have an expected completion date by 2024. The cash flows related to the contracts are shown below: Schedule of cash flows related to the contracts Discounted Undiscounted 2022 2022 2023 1,014 1,080 2024 52,258 55,678 2025 49,390 56,067 2026 46,687 56,468 2027+ 396,669 712,541 Total 546,017 881,835 |
Trade payables
Trade payables | 12 Months Ended |
Dec. 31, 2022 | |
Trade Payables | |
Trade payables | 15 Trade payables Schedule or trade account payables Note 2022 2021 Trade payables: Domestic market Third parties 1,748,853 1,492,223 Third parties (forfait) (i) 682,396 487,806 Total Third parties 2,431,249 1,980,029 Related parties 196,440 208,287 Related parties (forfait) (i) 81,527 40,148 Total Related parties 9 277,967 248,435 Foreign market (ii) Third parties 9,540,635 9,936,266 12,249,851 12,164,730 Current liabilities 12,246,782 12,053,266 Non-current liabilities 3,069 111,464 Total 12,249,851 12,164,730 (i) The Company has payment agreements with financial institutions that allow certain suppliers to opt for granting their receivables from the Company upon accepting of financial institutions by acquiring or not the related receivables, without the Company's interference. The grant operation does not imply any change in the instruments issued by suppliers, with the same conditions of the original amount and the payment term maintained. (ii) Includes R$5.8 billion (2021: R$4.7 billion) in raw material purchases due in up to 360 days for which the Company provides letters of credit issued by financial institutions that indicate the suppliers as beneficiaries. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2022 | |
Borrowings [abstract] | |
Borrowings | 16 Borrowings (a) Borrowings Schedule of borrowings Annual financial charges (%) 2022 2021 Foreign currency Bonds Note 16 (b) 26,124,158 30,322,998 Export prepayment and export credit notes (i) US$ exchange variation + Term SOFR quarterly + 1,79 1,514,651 - Other Note 16 (c) 3,880,165 4,703,059 Transactions costs (453,532) (594,048) 31,065,442 34,432,009 Current liabilities 1,177,144 1,284,483 Non-current liabilities 29,888,298 33,147,526 Total 31,065,442 34,432,009 Local currency Agribusiness Credit Notes ("CRA") Note 16 (d) 763,396 - BNDES IPCA + 6.04 386,534 435,778 Export credit notes 100.00 of CDI + 1.30 348,885 - Other fixed interest loans Interest between 3.5 and 6.5 18,671 24,864 Other variable interest loans IPCA + interest between 2.39 and 2.78 3,525 4,616 Transactions costs (21,193) (7) 1,499,818 465,251 Current liabilities 77,406 59,011 Non-current liabilities 1,422,412 406,240 Total 1,499,818 465,251 Foreign currency and local currency Current liabilities 1,254,550 1,343,494 Non-current liabilities 31,310,710 33,553,766 Total 32,565,260 34,897,260 (i) Maturity in June 2027. The maturity profile of the long-term borrowings is as follows: Schedule of long-term maturities 2022 2021 2023 - 1,199,143 2024 2,143,624 3,965,917 2025 603,743 645,517 2026 581,625 622,032 2027 2,356,678 552,171 2028 7,281,841 7,081,301 2029 287,178 230,557 2030 7,995,727 8,535,493 2031 106,661 61,617 2033 and thereafter 9,953,633 10,660,018 Total 31,310,710 33,553,766 (b) Bonds Schedule of bonds Interest Issue date Maturity (% per year) 2022 2021 Jul-2011 and jul-2012 (i) jul-2041 7.125 3,044,911 3,296,917 Feb-2014 and may-2014 (ii) fev-2024 6.450 1,588,729 3,417,741 Oct-2017 (ii) jan-2023 3.500 – 593,964 Oct-2017 (i) jan-2028 4.500 6,249,333 6,695,263 Nov-2019 (i) jan-2030 4.500 7,936,089 8,527,701 Nov-2019 jan-2050 5.875 4,009,069 4,287,829 Jul-2020 (iii) jan-2081 8.500 3,296,027 3,503,583 Total 26,124,158 30,322,998 (i) Prepayments were made in 2021 in the total amount of R$1.3 billion. In September 2022, a portion of the bonds was repurchased for R$83.8 million. (ii) Prepayments were made between 2019 and 2022 in the total amount of R$4.6 billion. The bond maturing in January 2023 was fully settled in June 2022. In February 2023, a prepayment was made of the total amount of the bond due in February 2024. (iii) The bond can be repaid by the Company at par value, with the first payment between October 2025 and January 2026 and the other payments after each period of 5 years as from the first payment. Braskem has fully, unconditionally and irrevocably, guaranteed the bonds issued by Braskem Finance, Braskem America Finance and Braskem Holanda Finance. Braskem’s guarantees for issues carried out between 2011 and 2019 comprise senior unsecured obligations of Braskem, ranking equal in right of payment with all of its other existing and future senior unsecured debt. As for the issuance carried out in 2020, in case of default the guarantee comprises obligations subordinated to all current or future senior debts of Braskem. (c) Other Schedule of others Issue date Maturity Charges (% per year) 2022 2021 nov-2018 (i) nov-2028 Us dollar exchange variation + semianual Libor + 0.90 929,112 1,154,146 dec-2019 (i) dec-2029 Us dollar exchange variation + semianual Libor + 0.90 549,610 670,124 dec-2019 (ii) apr-2026 Us dollar exchange variation + semianual Libor - 1.00 197,209 266,403 sep-2017 (iii) mar-2027 Us dollar exchange variation + semianual Libor + 1.61 357,488 462,490 jul-2018 (iv) dec-2028 Us dollar exchange variation + semianual Libor + 0.65 757,832 947,898 aug-2020 (iii) feb-2031 Us dollar exchange variation + semianual Libor + 1.70 1,007,067 1,201,998 aug-2020 (v) aug-2028 to jun-2029 Euro exchange variation + interest between 2.40 and 7.41 79,698 nov-2020 (v) no maturity Euro exchange variation + Euribor monthly + 4.10 2,149 3,880,165 4,703,059 (i) Credit facility contracted by the subsidiaries Braskem Holanda Finance and Braskem Holanda Inc. secured by SACE, an Italian export credit agency, and guarantee from Braskem. (ii) Credit facility contracted by Braskem S.A. with a term of 7 years and guarantee of its own assets. (iii) Credit facility contracted by the subsidiaries Braskem Holanda Finance and Braskem Holanda Inc, secured by NEXI, the Japanese export credit agency, and guarantee from Braskem. (iv) Credit facility contracted by the subsidiary Braskem America, secured by Euler Hermes, the German export credit agency in the maximum amount of R$1,174 million. (v) Credit facility contracted by the indirect subsidiary ER Plastics B.V., with guarantee of its own assets and of Braskem in the proportion of its ownership interest. (d) CRA On January 5, 2022, Eco Securitizadora de Direitos Creditórios do Agronegócio S.A. issued CRA in the Brazilian debt capital markets backed by a private debenture issued by Braskem. Schedule of others - CRA Issue amount Issue date Issuer Series Maturity Charges (% per year) 2022 2021 Jan-2022 581,602 Braskem S.A. 1ª Dec-2028 IPCA + 5.54% 616,025 - Jan-2022 139,134 Braskem S.A. 2ª Dec-2031 IPCA + 5.57% 147,371 - Total 720,736 763,396 |
Braskem Idesa Borrowings
Braskem Idesa Borrowings | 12 Months Ended |
Dec. 31, 2022 | |
Borrowings [abstract] | |
Braskem Idesa Borrowings | 17 Braskem Idesa Borrowings Schedule of braskem idesa financing Identification Maturity Charges (% per year) 2022 2021 Bonds Bond I nov-2029 Us dollar exchange variation + 7.45 (i) 4,690,619 5,104,463 Bond II feb-2032 Us dollar exchange variation + 6.99 (ii) 6,352,864 6,834,805 11,043,483 11,939,268 Others (a) Oct-2026 Us dollar exchange variation + quarterly Libor + 4.00 (iii) 734,837 849,859 Transactions costs (408,002) (477,592) Total 11,370,318 12,311,535 Current liabilities 868,635 86,765 Non-current liabilities 10,501,683 12,224,770 Total 11,370,318 12,311,535 (i) Unsecured Bond, considers the same guarantees (property, plant and equipment) of Bond II. (ii) Sustainability-linked bonds. The bonds due in 10 years have an interest rate of 6.99% p.a., which may be increased by up to 0.37% p.a. if certain conditions are not met. The Braskem Idesa pledged as guarantee property, plant and equipment assets in the same value as the bond. (iii) For this financing, fixed assets and other rights (such as shares and receivables) were granted as collateral. (a) Regarding this financing, on December 22, 2022 Braskem Idesa obtained the waiver related to a leverage ratio (covenant) until June 30, 2023. In this sense, even though Braskem Idesa is not in default and creditors did not request to accelerate this debt, because the waiver did not cover at least 12 months, the entire balance, in the amount of R$649,560, was reclassified from non-current liabilities to current liabilities on December 31, 2022. Braskem Idesa is in full compliance with its debt service obligation defined in the financing agreement and maintains a cash position equivalent to R$ 2,184,332 The amount of the financings with maturities in the long term are as follows: Schedule of long-term maturities of these financing 2022 2021 2023 - 67,649 2024 - 68,694 2025 - 69,530 2026 - 408,445 2029 4,337,567 4,900,399 2032 6,164,116 6,710,053 Total 10,501,683 12,224,770 |
Debentures
Debentures | 12 Months Ended |
Dec. 31, 2022 | |
Debentures Abstract | |
Debentures | 18 Debentures Schedule of debentures Annual Issue date Issuer Series Maturity financial charges (%) 2022 2021 mar-2013 (i) DAC Only mar-2025 IPCA + 6% 109,877 150,352 sep-2013 (i) Cetrel Only Sep-2025 126.5% of CDI 34,604 47,109 may-2022 Braskem 1ª may-2029 CDI + 1,75 770,910 - may-2022 Braskem 2ª may-2030 to 2032 CDI + 2,00 248,970 - aug-2022 (i) Braskem Only aug-2029 CDI + 1,75 786,770 - nov-2022 Braskem 1ª nov-2029 CDI + 1,70 1,113,987 - nov-2022 Braskem 2ª nov-2030 to 2032 CDI + 1,95 97,159 - Transactions costs (10,802) (543) 3,151,475 196,918 Current liabilities 127,801 59,088 Non-current liabilities 3,023,674 137,830 Total 3,151,475 196,918 (i) These debentures were secured by mandatory deposits as disclosed in Note 6. The maturity profile of the long-term debentures is as follow: Schedule of long-term debenture maturity 2022 2021 2023 - 57,045 2024 58,550 57,096 2025 24,059 23,689 2029 2,600,998 - 2030 113,291 - 2031 113,360 - 2032 113,416 - Total 3,023,674 137,830 |
Reconciliation of borrowing act
Reconciliation of borrowing activities in the statement of cash flow | 12 Months Ended |
Dec. 31, 2022 | |
Reconciliation Of Borrowing Activities In Statement Of Cash Flow | |
Reconciliation of borrowing activities in the statement of cash flow | 19 Reconciliation of borrowing activities in the statement of cash flow Schedule of reconciliation of borrowing activities in the statement of cash flow Borrowings, debentures and Braskem Idesa financing Total Non-controlling borrowings Braskem Idesa shareholders Borrowings Debentures and debentures financing of Braskem Idesa Lease Dividends Balances at December 31, 2021 34,897,260 196,918 35,094,178 12,311,535 3,646,538 3,156,414 10,538 Acquired 3,479,224 2,938,984 6,418,208 - - - Payments (3,753,427) (102,235) (3,855,662) (45,311) (34,122) (928,890) (1,350,293) Cash used in financing activities (274,203) 2,836,749 2,562,546 (45,311) (34,122) (928,890) (1,350,293) Other changes Interest paid (1,880,611) (34,548) (1,915,159) (752,489) (16,212) (221,019) - Interest and monetary and exchange variations, net 1,524,983 152,356 1,677,339 170,180 (47,784) 83,871 - VAT on loan (75,640) New contracts 2,232,043 Disposal (12,568) Additions through acquisition of ER Plastics 99,702 99,702 - 4,264 - Currency translation adjustments (1,801,871) (1,801,871) (313,597) (84,720) (73,585) Fair value of financial transactions of non-controlling subsidiaries (889,967) Additional dividends approved in the board meeting - - 1,350,000 Additional dividends of subsidiary - - 1,236 Other - - (474) (2,057,797) 117,808 (1,939,989) (895,906) (1,114,323) 2,013,006 1,350,762 Balances at December 31, 2022 32,565,260 3,151,475 35,716,735 11,370,318 2,498,093 4,240,530 11,007 Current 1,254,550 127,801 1,382,351 868,635 1,039,706 11,007 (i) No Current 31,310,710 3,023,674 34,334,384 10,501,683 2,498,093 3,200,824 Total 32,565,260 3,151,475 35,716,735 11,370,318 2,498,093 4,240,530 11,007 (i ) Amount classified in "Other payables" under current liabilities. |
Financial instruments
Financial instruments | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments | |
Financial instruments | 20 Financial instruments 20.1 Initial recognition and measurement Trade receivables and bonds issued are initially recognized when they are originated. All other financial assets and liabilities are initially recognized when the Company becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) is initially measured at fair value, plus transaction costs directly attributable to their acquisition. A financial liability is initially recognized at fair value, excluding transaction costs. For financial assets and liabilities measured subsequently at fair value through profit or loss (“FVTPL”), transactions costs that are directly recognized in profit or loss. A trade receivable without a significant financing component is initially measured at the transaction price. (a) Classification, subsequent measurement and gains and losses Financial Assets On initial recognition, a financial asset is classified as measured at: amortized cost; fair value through other comprehensive income (“FVOCI”) or fair value through profit or loss (“FVTPL”). A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as measured at fair value: (i) It is held within a business model whose objective is to hold assets to collect contractual cash flows; and (ii) Its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A financial asset can also be measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL: (i) It is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and (ii) Its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVTPL. This includes all derivative financial assets (see Note 20.5). Financial assets at FVTPL Financial assets at amortized cost Financial assets at FVOCI Financial liabilities Financial liabilities are classified as measured at amortized cost or FVTPL. A financial liability is classified as at FVTPL if it is a derivative. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss. Other financial liabilities are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss, except when the financial asset is designated as a hedge instrument (see Note 20.2). Any gain or loss on derecognition is also recognized in profit or loss. (b) Derecognition of financial instruments Financial Asset The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or when the Company transfers the rights to receive the contractual cash flows in a transaction in which either: (i) Substantially all of the risks and rewards of ownership of the financial asset are transferred; or (ii) The Company does not retain substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. When the Company enters into transactions whereby it transfers assets recognized in its statement of financial position but retains either all or substantially all of the risks and rewards of the transferred assets, the financial assets are not derecognized. Financial liabilities The Company derecognizes a financial liability when its contractual obligations are discharged, cancelled or expire. The Company also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss. Interest rate reform When the base for determining the contractual cash flows of a financial asset or financial liability measured at amortized cost changes as a result of interest rate reform, the Company updates the effective interest rate of the financial asset or financial liability to reflect the change required by the reform. A change in the base for determining the contractual cash flows is required by the interest rate benchmark reform if the following conditions are met: (i) the change is necessary as a direct consequence of the reform; and (ii) the new base for determining contractual cash flows is economically equivalent to the previous base, i.e., the base immediately prior to the change. When changes are made in a financial asset or financial liability in addition to changes in the base for determining the contractual cash flows required by the interest rate benchmark reform, the Company updates first the effective interest rate of the financial asset or financial liability to reflect the change required by the interest rate benchmark reform. Then the Company applies the accounting policies for changes from the additional modifications. (c) Offsetting Financial assets or financial liabilities are offset, and the net amount presented in the statement of financial position when, and only when, the Company currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. 20.2 Derivative financial instruments and hedge accounting The Company holds derivative financial instruments to hedge its foreign currency and interest rate risk exposures. Embedded derivatives are separated from the host contract and accounted for separately if the host contract is not a financial asset and certain criteria are met. Derivatives are initially measured at fair value. After initial recognition, derivatives are measured at fair value, and changes therein are generally recognized in profit or loss. The Company designates certain derivatives and non-derivative financial liabilities as hedging instruments to hedge the variability in cash flows associated with highly probable forecast transactions arising from changes in foreign exchange rates and interest rates. At inception of designated hedging relationships, the Company documents the risk management objective and strategy for undertaking the hedge. The Company also documents the economic relationship between the hedged item and the hedging instrument, including whether the changes in cash flows of the hedged item and hedging instrument are expected to offset each other. Cash flow hedges When a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of the derivative is recognized in OCI. The effective portion of changes in the fair value of the derivative that is recognized in OCI is limited to the cumulative change in fair value of the hedged item, determined on a present value basis, from inception of the hedge. Any ineffective portion of changes in the fair value of the derivative is recognized immediately in profit or loss. If the hedge no longer meets the criteria for hedge accounting, or the hedging instrument is sold, expires, is terminated or is exercised, then hedge accounting is discontinued prospectively. When hedge accounting for cash flow hedges is discontinued, the amount that has been accumulated in OCI remains recognized until it is reclassified under profit or loss in the same period or periods as the expected future cash flows affect the profit or loss. If the hedged future cash flows are no longer expected to occur, then the amounts that have been accumulated in OCI are immediately reclassified to profit or loss. 20.3 Fair Value (a) Fair value measurement Fair value is the price to be received in the sale of an asset or paid for the transfer of a liability in a transaction not forced between market players on the measurement date, in the main market or, in the case of a lack of one, the most advantageous market in which the Company has access on said date. The Company recognizes derivative financial instruments at their fair value and the main sources of information are the stock exchanges, commodities and futures markets, published by Central Bank of Brazil (“BACEN”), Bloomberg and Reuters. Nevertheless, the volatility of the foreign exchange and interest rate markets in Brazil has been resulting in significant changes in future rates and interest rates over short periods of time, leading to significant changes in the fair value of derivatives and other financial instruments. The fair values of non-derivative quoted financial instruments are based on current bid prices. If the market for a financial asset and for unlisted securities is not active, the Company establishes fair value by using valuation techniques. These include the use of recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analysis, and option pricing models that make maximum use of market inputs and rely as little as possible on information provided by the Management. The following methods and assumptions were used to estimate the fair value: (i) Financial assets classified as VFTPL or FVOCI are measured in accordance with the fair value hierarchy (Level 1 and Level 2), with inputs used in the measurement processes obtained from sources that reflect the most recent observable market prices. (ii) Trade accounts receivable and trade payables, mostly classified as amortized cost, correspond to their respective carrying amounts due to the short-term maturity of these instruments. When purchase or sale prices include material financial charges, the securities are adjusted to their present value. (iii) The fair value of borrowings is estimated by discounting future contractual cash flows at the market interest rate, which is available to the Company in similar financial instruments. (iv) The fair value of bonds is based on prices negotiated in financial markets, plus the respective carrying amount of interest. The fair values of the remaining assets and liabilities correspond to their carrying amount. The valuation of liabilities (Note 20.4) considers the present value of expected payments, discounted by a discount rate adjusted to the risk. (b) Fair value hierarchy Level 1 Level 2: 20.4 Non-derivative financial instruments and other liabilities Schedule of non-derivative financial instruments and other liabilities Fair value Book value Fair value Note Classification by category hierarchy 2022 2021 2022 2021 Cash and cash equivalents 5 Cash and banks Amortized cost 6,074,208 5,050,822 6,074,208 5,050,822 Financial investments in Brazil Fair value through profit or loss Level 2 6,392,266 3,629,864 6,392,266 3,629,864 12,466,474 8,680,686 12,466,474 8,680,686 Financial investments 6 LFT´s and LF´s Fair value through profit or loss Level 2 1,789,375 2,337,171 1,789,375 2,337,171 Time deposit investments Amortized cost - 106,271 - 106,271 Other Fair value through profit or loss Level 2 523,256 1,066,113 523,256 1,066,113 2,312,631 3,509,555 2,312,631 3,509,555 Trade accounts receivable 7 Amortized cost 3,199,223 7,118,452 3,199,223 7,118,452 Trade accounts receivable 7 Fair value through other comprehensive income Level 2 32,711 48,508 32,711 48,508 Trade payables 15 Amortized cost 12,249,851 12,164,730 12,249,851 12,164,730 Borrowings 16 Amortized cost Foreign currency - Bond Level 1 26,124,158 30,322,998 23,165,942 33,690,876 Foreign currency - other borrowings Level 2 5,394,816 4,703,059 5,329,174 4,696,970 Local currency Level 2 1,521,011 465,258 1,937,255 451,899 33,039,985 35,491,315 30,432,371 38,839,745 Braskem Idesa borrowings 17 Amortized cost Bond Level 1 11,043,483 11,939,268 8,301,948 12,197,524 Others Level 2 734,837 849,859 796,510 931,141 11,778,320 12,789,127 9,098,458 13,128,665 Debentures 18 Amortized cost Level 2 3,162,277 196,918 3,190,417 195,570 Loan ton non-controlling 9(a) Amortized cost 2,498,093 3,646,538 2,498,093 3,646,538 Leniency agreement 25 Amortized cost 903,140 1,123,296 903,140 1,123,296 20.5 Derivative financial instruments Schedule of changes in derivative financial instruments Operation characteristics Net (Asset)/ Net (Asset)/ Principal exposure Liability Change in Financial Liability Identification Derivatives 2021 fair value settlement 2022 Non-hedge accounting transactions Braksem America - Swap C3/PGP Propane Propene 14,299 (2,158) (12,141) - Braskem Holanda - Swap Nafta/Gasoline Gasoline Naphtha (16,847) (25,733) 26,584 (15,996) Braskem Argentina - Exchange swap Argentine peso Dollar 3 61 (63) 1 (2,545) (27,830) 14,380 (15,995) Hedge accounting transactions Braskem S.A. - Dollar call and put options Real Dollar 85,216 (227,871) 77,285 (65,370) Braskem S.A. - Dollar swap CDI Real Dollar+Fixed rates 502,508 (194,055) (156,740) 151,713 Braskem S.A. - Swap CRA Real Dollar+Fixed rates - (32,828) 10,116 (22,712) 587,724 (454,754) (69,339) 63,631 Derivatives Assets Current assets 33,816 157,906 Non-current assets 51 71,544 Total 33,867 229,450 Liabilities Current liabilities 256,131 195,169 Non-current liabilities 362,915 81,917 Total 619,046 277,086 Net (Asset)/Liability 585,179 47,636 The counterparties in these contracts are constantly monitored based on the analysis of their respective ratings and Credit Default Swap (“CDS”). The Company has many bilateral risk mitigators in its derivative contracts, such as the possibility of depositing or requesting deposits of a guaranteed margin from the counterparties. Derivative financial instruments held on December 31, 2022 were contracted on both international stock exchanges and on Over the Counter (“OTC”) markets with large financial counterparties under global derivative contracts in Brazil or abroad. The Company’s Financial Policy provides for the active management and continued protection against fluctuations in currencies and rates arising from its operations and financial items, with the possibility of contracting derivative instruments (swaps, NDFs, options, etc.). The other market risks are addressed on a case-by-case basis for each transaction. In general, the Company assesses the need for hedging in the analysis of prospective transactions and seeks to customize the hedge and keeps it in place for the hedged period transaction. In general, the Company elects to designate derivative financial instruments in a hedge accounting relationship when the application is expected to provide a significant improvement in presenting the offsetting effect on the changes in the hedged items. Hedge accounting transactions (a.i) US Dollar call and put option As of December 31, 2022, the Company holds a total notional amount of put options of US$ 2.1 10.96 4.7 1.4 7.3 7.06 US Dollar-denominated future sales in Brazilian Real were designated for hedge accounting, with the months of revenue recognition always coinciding with the months of the options. The future elements of forward exchange contracts are excluded from the designation of hedge instrument and are separately recorded as hedging cost, recognized in the OCI. (a.ii) US Dollar Swap In 2018, the Company contracted foreign exchange derivative operations (“swaps”) in the aggregate amount of R$1.27 billion, with annual maturities over the following 5 years starting January 2019. The amount payable in January 2020 was subject to the variation in the IPCA index. The remaining maturities are subject to the variation in the CDI. These operations were designated to cash flow hedge accounting, where the hedging instruments are foreign exchange derivatives, and the hedged objects are highly probable future revenues in the domestic market subject to fluctuations in Brazilian R$/US$ price. Accordingly, the fair value adjustment of the effective portion of the hedge is recognized under shareholders equity in OCI and is recognized in the financial result upon the maturity of each installment. (a.iii) US Dollar Swap - CRA In 2022, the Company contracted foreign exchange derivative operations (“swaps”) with semiannual maturities for the next 10 years as from March 2022. These operations were designated for cash flow hedge accounting, in which the hedge instruments are foreign exchange derivatives, and the hedge objects are highly probable future revenue subject to the R$/US$ exchange rate. Accordingly, the fair value adjustment in the effective hedge portion will be recorded in equity in OCI and will be recognized in financial result upon the realization of each of the hedge objects. Schedule of Fair Value Adjustment Identification Total nominal Hedge Maturity Fair value, net value R$ (interest rate per year) 2022 2021 Swaps CRA 600,218 3.5388 dec-2028 12,603 - Swaps CRA 141,298 3.3742 dec-2031 10,109 Total 741,516 22,712 - Derivatives Assets Current assets 13,274 - Non-Current assets 49,613 - Total 62,887 - Liabilities Non-Current liabilities 40,175 - Total 40,175 - Net (Asset)/Liability 22,712 - 20.6 Non-derivative financial liabilities designated to hedge accounting (a) Future exports in US$ (Braskem S.A.) The Company designated non-derivate financial liabilities in foreign currency to hedge the future cash flows generated by its exports. This decision was based on two important concepts and judgments: (i) ) the high probability of performing exports according to its business plan, (see Note 22.2), which are inherent to the market and business where it operates, and (ii) the Company’s capacity to finance its liabilities in US$, since its guidance and strategy determine the financing priority in US$ and its Financial Policy requires maintaining a minimum level of net liabilities in US$. On May 1, 2013, Braskem designated non-derivative financial liabilities, denominated in US$, as a hedge for the flow of its highly probable future exports. Thus, the impact of exchange rates on future cash flows in US dollar derived from these exports is offset by the foreign exchange variation on the designated liabilities, partly eliminating the volatility of results. The exchange rate on the date of the designation was US$1/ R$2.0017. The main actions carried out in the program are detailed below: • 2017: designation of R$ 6.52 • 2019: designations of R$ 11.5 2.2 • 2020: designation of R$ 3,131 600 1,889 362 • 2021: designation of hedge accounting of R$ 2,087 400 2,087 400 1,044 200 • 2022: designation of R$ 2,609 500 • Over the past two years, Braskem exported an average R$ 88.7 17 • Hedged exports represent approximately 30% of the export flows planned by the Company. • The exports of the Company are not sporadic or occasional but constitute an integral part of its strategy and of the petrochemical business, in which competition is global. Several of the products produced by the Company are primarily and recurrently intended for export. On December 31, 2022, the exports that were designated not yet realized and not discontinued and the maturities of financial liabilities designated, all consolidated, were as follows: Schedule of non-derivative financial liabilities designated to hedge accounting Total nominal value US$ R$ 0 2024 288,854 1,507,154 2025 800,000 4,174,160 2028 1,250,000 6,522,125 2029 500,000 2,608,850 2030 800,000 4,174,160 2031 800,000 4,174,160 2032 800,000 4,174,160 Total nominal value 5,238,854 27,334,769 The following table shows the changes in financial instruments designated for this hedge in the year: Schedule of financial instruments designated for hedge US$ 2021 Designations 2022 Designated balance 4,738,854 500,000 5,238,854 The following table provides the balances of exchange variation recognized in the Company’s net financial income (expenses) due to the realization of exports designated, for this hedge in the fiscal year ended December 31, 2022: Schedule of exchange variation Conversion rate Total nominal at Inception Closing rate Gross nominal value US$ R$/US$ R$/US$ value - R$ First quarter 175,000 2.0017 3.9786 345,958 Second quarter 208,000 2.0017 3.9786 411,195 Third quarter 186,000 2.0017 3.9786 367,703 Fourth quarter 150,000 2.0017 3.9786 296,535 719,000 1,421,391 The changes in foreign exchange variation and income taxes under other comprehensive income of this hedge are as follows: Schedule of changes in foreign exchange variation and income tax and social contribution Exchange Net variation IR and CSL effect Balances at December 31, 2021 (13,102,558) 4,454,869 (8,647,689) Exchange variation recorded in the period / IR and CSL 1,699,906 (577,968) 1,121,938 Exchange variation transferred to profit or loss / IR and CSL 1,421,391 (483,273) 938,118 Balances at December 31, 2022 (9,981,261) 3,393,628 (6,587,633) (b) Future sales in US$ (Braskem Idesa) As of December 31, 2022, designated and unrealized sales and financial liabilities designated to hedge them were as follows: Schedule of designated and unrealized sales Nominal value 2023 65,221 2024 117,398 2025 117,398 2026 430,460 2030 1,173,983 2031 1,173,983 2032 2,739,293 2033 2,739,293 2034 1,565,310 2035 1,565,310 Nominal value 11,687,649 The following table provides the balances of exchange variation recognized in Braskem Idesa’s financial income (expenses) due to the maturity of the sales designated in this hedge for the 12-month period ended December 31, 2022: Schedule of exchange variation - Braskem Idesa Conversion rate Total nominal at Inception Closing rate Total nominal Gross nominal value US$ MXN/US$ MXN/US$ value MXN value - R$ First quarter 29,136 13.6218 20.2827 194,072 49,302 Second quarter 72,612 13.6507 20.1297 470,453 116,361 Third quarter 72,612 13.6507 20.1297 470,453 120,341 Fourth quarter 78,844 13.6521 20.1224 510,144 137,999 253,204 1,645,123 424,003 The changes in foreign exchange variation and income taxes under other comprehensive at Braskem Idesa income are as follows: Schedule of changes in foreign exchange variation and income tax and social contribution - Braskem Idesa Exchange Net variation IR and CSL effect Balances at December 31, 2021 (2,231,511) 670,192 (1,561,319) Exchange variation recorded in the period / IR 699,677 (209,903) 489,774 Exchange variation transferred to profit or loss / IR 424,003 (127,201) 296,802 Balances at December 31, 2022 (1,107,831) 333,088 (774,743) Effectiveness tests were conducted, and all operations were deemed effective in reducing the dispersion of revenue from sales designated for hedge, when evaluated in Mexican Pesos. 20.7 Credit quality of financial assets (a) Trade accounts receivable The Company’s clients do not have risk ratings assigned by credit rating agencies. For this reason, the Company developed its own credit rating methodology for all accounts receivable from clients in Brazil and abroad. Considering the expected credit losses, the percentage of trade accounts receivable by risk ratings was as follows: Schedule of trade accounts receivable by credit ratings (%) 2022 2021 1 Minimal Risk 72.15 65.39 2 Low Risk 21.65 26.65 3 Medium Risk 3.36 6.02 4 High Risk 2.56 1.54 5 Very High Risk (i) 0.28 0.40 (i) Clients in this group that are still active buy from Braskem and pay in advance. For the export market, around 85% of the portfolio has guarantees, consisting primarily of credit insurance. For the domestic market, around 22% of the portfolio has guarantees, mainly suretyships by the partners of counterparties, complemented by credit insurance. (b) Cash and cash equivalents and financial investments In order to determine the credit ratings of counterparties classified under cash and cash equivalents, and financial investments, the Company uses the risk rating of agencies Standard & Poor’s, Moody’s and Fitch Ratings, within the limits established in its Financial Policy: Schedule of financial assets with and without risk assessment 2022 2021 Domestic market Foreign market Total Domestic market Foreign market Total Financial assets with risk classification AAA 5,130,140 2,420,741 7,550,881 4,080,884 2,783,151 6,864,035 AA+ 162,650 - 162,650 109,165 - 109,165 AA 289,574 107,545 397,119 188,742 629,671 818,413 AA- 149,178 - 149,178 63,675 - 63,675 A+ 3,423 4,459,700 4,463,123 5,788 2,914,269 2,920,057 A 57,650 1,392,854 1,450,504 107,225 - 107,225 A- - 387,478 387,478 634 236,335 236,969 BBB+ 118 375 493 856 38 894 BBB 788 52,389 53,177 129 1,026,104 1,026,233 BBB- - 554 - 554 BB+ - 50 - 50 BB - - 1,479 - 1,479 BB- 7 7 5,793,521 8,821,089 14,614,610 4,559,181 7,589,568 12,148,749 Financial assets without risk classification Shares of investment funds - - 1,721 - 1,721 Other financial assets (i) 83,070 81,425 164,495 25,989 13,782 39,771 83,070 81,425 164,495 27,710 13,782 41,492 Total 5,876,591 8,902,514 14,779,105 4,586,891 7,603,350 12,190,241 (i) Investments approved by the Management, in accordance with the Financial Policy. 20.8 Sensitivity analysis Financial instruments, including derivatives, may be subject to changes in their fair value as a result of the variation in commodity prices, foreign exchange rates, interest rates, shares and share indexes, price indexes and other variables. The sensitivity of the derivative and non-derivative financial instruments to these variables are presented below: (a) Selection of risks On December 31, 2022, the main risks that can affect the value of Company’s financial instruments are: · US$/R$ exchange rate; · LIBOR floating interest rate; · IPCA inflation rate; · Selic and CDI interest rates; and · SOFR interest rate. For the purposes of the risk sensitivity analysis, the Company presents the exposures to currencies as if they were independent, that is, without reflecting in the exposure to a foreign exchange rate the risks of the variation in other foreign exchange rates that could be directly influenced by it. (b) Value at risk The value at risk of the derivatives held by the Company which is defined as the impact on fair value adjustment that could result in one month as from December 31, 2022, with a probability of 5%, and under normal market conditions, was estimated by the Company at R$129 million (US$24.7 million) for put options and call options (Note 20.5(a.i)) and R$96.7 million (US$18.5 million) for the US dollar swap (Note 20.5(a.ii)) and R$4.5 million (US$872 thousand) for the CRA swap (Note 20.2(a.iii)). (c) Selection of scenarios The Focus Market Readout published by BACEN was used to create the probable scenario for the US$-R$ exchange rate, the Selic interest rate and the CDI interest rate as of December 31, 2022. According to the Market Readout, at the end of 2023, US$1 will remain at approximately R$5.27, while the Selic rate should reach 12.25% p.a. at the end of the period. The Selic rate is used as benchmark for sensitivity analysis of the CDI rate. Since the Market Readout report does not include consensus forecasts for the LIBOR rate, the projection of the U.S. Federal Reserve for the Federal Funds rate at the end of the year was used, whose most recent version was published in December 2022, in comparison with the current level of the Federal Funds rate on December 31, 2022. For each variable analyzed in the sensitivity analysis, the Company has considered estimating annualized variations corresponding to 1 and 3 standard deviations of monthly averages of the last five years. They are equivalent to approximately 15.866% and a 0.135% probability of occurrence for the reasonably possible and possible scenarios, respectively. Then, these changes are applied to the current market levels of each variable. Uncertainties of the current context The assumptions of the future value adopted in the construction of the probable scenario and the current value of each variable in this analysis are referenced to the reporting date December 31, 2022. Given the instability in the current economic scenario caused by the COVID-19 pandemic and the global effects resulting from the conflict in Ukraine, interest rates and foreign exchange rates are affected daily. The Company’s gains and losses in these probable stress scenarios are analyzed by increasing each variable according to the aforementioned. The sensitivity values in the table below represent the changes in the value of the financial instruments in each scenario, jointly with the absolute amounts of each of the risk factors considered: The sensitivity values in the table below are the changes in the value of the financial instruments in each scenario Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity Note as December 31, 2022 (USDBRL 5.27) (USDBRL 5.93) (USDBRL 7.35) Brazilian real/U.S. dollar exchange rate Bonds (37,167,641) (372,553) (5,051,899) (15,155,696) Export prepayments (1,028,473) (10,309) (139,792) (419,376) Investments (1,985,932) (19,906) (269,932) (809,795) SACE 16(c.i) (1,478,722) (14,822) (200,991) (602,973) Dollar call and put options (i) 65,370 9,809 (160,742) (1,023,396) Dollar swap x CDI (151,713) (6,216) (189,181) (466,381) MONFORTE 16(c.ii) (197,209) (1,977) (26,805) (80,415) Nexi 16(c.iii.iv) (100,707) (1,009) (13,688) (41,065) Other (734,837) (7,366) (99,881) (299,642) Financial investments abroad 6,718,183 67,340 913,149 2,739,446 Dollar swap x IPCA 22,713 (607) (63,356) (194,841) Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2022 (5.58%) (7.89%) (14.13%) Libor floating interest rate Export prepayments (35,749) (887) (3,388) (10,163) Nexi 16(c.iii.iv) (100,707) (3,920) (14,970) (44,909) SACE 16(c.i) (1,478,722) (49,107) (187,520) (562,560) MONFORTE 16(c.ii) (197,209) (4,094) (15,635) (46,906) Investments (1,985,932) (63,201) (241,339) (724,017) Outros (734,837) (16,887) (64,483) (193,449) Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2022 (12.25%) (17.6%) (25.31%) CDI interest rate Debentures (3,052,400) 302,796 (898,725) (3,331,635) Financial investments in local currency 5,876,590 (80,242) 206,257 619,489 Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2022 (5.31%) (6.72%) (8.35%) IPCA interest rate Debentures (109,877) 1,494 (2,085) (6,315) BNDES (386,534) 26,403 (38,283) (121,208) BNB/ FINEP/ FUNDES/FINISA/FINAME/FNE (3,525) 59 (83) (252) CRA (763,396) 45,429 (65,630) (206,889) Dollar swap x IPCA 22,713 (99,748) 31,958 99,871 Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2022 (12.25%) (17.6%) (25.31%) Selic interest rate Leniency agreement (865,311) 6,856 (17,443) (51,656) Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2022 (4.59%) (10.58%) (22.57%) Selic interest rate Export prepayments (992,725) (25,698) (195,867) (587,602) Export credit notes (521,926) (13,571) (103,435) (310,306) (i) The Company is in the short position of a possible counterparty call. |
Taxes payable
Taxes payable | 12 Months Ended |
Dec. 31, 2022 | |
Taxes Payable | |
Taxes payable | 21 Taxes payable Schedule of taxes payable 2022 2021 Brazil IPI 74,219 131,290 ICMS 218,179 485,302 PIS and Cofins 20,406 33,516 Other 103,549 46,117 Other countries Value-added tax 150,260 229,571 Tax on financial income 222,464 346,817 Total 789,077 1,272,613 Current liabilities 491,051 1,012,116 Non-current liabilities 298,026 260,497 Total 789,077 1,272,613 |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income Taxes | |
Income taxes | 22 Income taxes Income taxes comprises current and deferred taxes. It is recognized in profit or loss except to the extent that it relates to items directly recognized in other comprehensive income. 22.1 Current income taxes Current income taxes comprise the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted at the reporting date. Current tax also includes any tax arising from dividends. Current tax assets and liabilities are offset only if certain criteria are met. As of December 31, 2022, the amount presented as recoverable income taxes under current assets is R$ 392,062 1,189,812 252,995 230,069 984.4 (a) Exclusion of inflation adjustment by Selic (economy´s basic interest rate) on undue tax payments from taxable income In July 2010, Braskem and the merged companies in previous years, filed lawsuits claiming exception from the levying of Brazilian income taxes (hereinafter “IR/CSL”) on amounts they received as interest on late payment, since they do not represent any equity increase. On September 24, 2021, through Special Appeal 1.603.187, the Federal Supreme Court (“STF”) stated that “the levying of IR/CSL on amounts updated by the Selic rate, received due to repetition of undue tax payments, is unconstitutional.” Braskem benefited from this decision in the amount of R$540 million reduction in income taxes calculated until 2022 (R$501 million until 2021). In 2021, deferred tax assets amounting to R$68 million were recognized for the periods in which tax losses increased. (b) Exemption of IR/CSL on ICMS tax incentives and benefits In October 2021, the Company obtained a preliminary injunction to exclude the ICMS tax incentives and benefits applicable to its operations, granted by the governments of States and the Federal District, from the income tax calculation base as from 2021. Since it is an uncertain tax treatment, as of December 31, 2021, it remains booked in the balance sheet as income taxes payable. In August 2022, a judgment was rendered restricting relief only to presumed ICMS credits. Accordingly, the amount related to ICMS tax incentives and benefits was paid amounting to R$ 1,038,255 (c) Use of tax losses in Braskem Idesa Mexico’s federal revenue service (“SAT”) has been questioning Braskem Idesa and Braskem SOFOM about the criteria and assumptions adopted in the calculation of income tax. With the intermediation from the Taxpayer Defense Attorney of Mexico (“Prodecon”), on February 3, 2023, Braskem Idesa and Braskem SOFOM signed an agreement, in which Braskem Sofom agreed to settle the income taxes proposed by SAT and Braskem Idesa reviewed the accrued tax losses in certain periods, resulting in a reduction in deferred tax credits of R$ 892 (d) Reconciliation of effective tax rate Schedule of income tax and social contribution reconciliation 2022 2021 2020 Profit (loss) before income taxes 47,344 17,961,023 (9,683,784) Nominal income taxes computed based on Brazilian statutory corporate tax rates (34%) (16,097) (6,106,748) 3,292,487 Permanent adjustments to income taxes calculation basis Income taxes on equity in results of investees 11,849 1,578 6,595 Thin capitalization (i) (359,598) (6,628) (695,741) Tax benefits (Sudene and PAT) - 137,338 - Reduction of tax loss 22.1(c) (891,669) - Effect of the refund of Braskem America´s tax benefit (737,841) Different jurisdictional taxes rates for companies abroad and tax basis (ii) 1,029,618 1,980,358 994,811 Effect from the retrospective tax rate on bonus depreciation of Braskem America - 334,460 Taxes on dividends distribution (454,663) (265,454) (131,240) Exclusion of inflation adjustement by Selic on undue tax payments from taxable income 22.1(a) 39,395 501,382 Other permanent adjustments (226,570) (241,229) (395,053) Effect of income taxes on results of operations (867,735) (3,999,403) 2,668,478 Breakdown of income taxes Current income taxes Current year (1,003,705) (3,834,437) (52,830) Total current expenses (1,003,705) (3,834,437) (52,830) Deferred income taxes Origination and reversal of temporary differences 1,192,438 (246,294) 2,677,328 Tax losses (1,056,468) 81,328 43,980 Total Deferred income taxes 135,970 (164,966) 2,721,308 Total (867,735) (3,999,403) 2,668,478 Effective rate (iii) 1832.8% 22.3% 27.6% (i) Includes the amount from the adjustment of interest rates in financial operations with subsidiaries in accordance with sub-capitalization tax rules. (ii) Besides the differences on tax basis calculation, it includes the impact from the difference between Brazilian tax rate (34%) and the tax rates in countries where the subsidiaries abroad are located, as follows: Schedule of foreign income tax rates Income tax rate (%) Headquarters (Country) 2022 Braskem Alemanha Germany 31.09 Braskem America and Braskem America Finance USA 21.00 Braskem Argentina Argentina 25.00 Braskem Chile Chile 27.00 Braskem Holanda, Braskem Holanda Finance, Braskem Holanda Inc, B&TC and ER Plastics Netherlands 25.80 Braskem Idesa, Braskem Idesa Serviços, Braskem México Braskem México Serviços, Braskem México Proyectos and Terminal Química Mexico 30.00 Braskem India India 30.00 (iii) The effects presented in the reconciliation of the effective rate, in relation to the profit before taxes of R$47,344, resulted in an effective rate of 1,832.8%, the main effect is described in Note 22.1(c). 22.2 Deferred income taxes Deferred income taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax assets are recognized for unused tax losses and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be used. Future taxable profits are determined based on the reversal of relevant taxable temporary differences. If the amount of taxable temporary differences is insufficient to recognize a deferred tax asset in full, then future taxable profits, adjusted for reversals of existing temporary differences, are considered, based on the business plans for the Company. The measurement of deferred taxes reflects the tax consequences that would follow from how the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities. Annually, the Company revises its projection of taxable income based on its Business Plan. The Business Plan is prepared annually by the Executive Board, and its main variables include projections for the prices of the products produced by the Company, the prices of raw materials, the growth in gross domestic product of each country in which the Company operates, exchange rate variation, interest rates, inflation rates and fluctuations in supply and demand for inputs and finished goods. In evaluating the plan, the Company uses its historical performance, strategic planning and market projections produced by third party consulting firms, which are reviewed and supplemented based on Management´s experience. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of future taxable profits improves. Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be used. Deferred tax assets and liabilities are offset only if certain criteria are met. (a) Movement in deferred tax balances Schedule of changes in balances of deferred tax assets and liabilities Assets As of December 31, 2020 Impact on the P&L Other As of December 31, 2021 Impact on the P&L Other As of December 31, 2022 Tax losses (IR) and negative base (CSL) 3,278,184 76,532 3,354,716 (957,184) 2,397,532 Goodwill amortized 6,520 (4,061) 2,459 (364) 2,095 Exchange variations 3,817,615 696,849 (234,402) 4,280,062 611,838 (1,549,020) 3,342,880 Temporary adjustments 4,996,337 (214,060) 4,782,277 (134,745) 4,647,532 Business combination 56,211 (29,327) 26,884 (26,884) 0 Tax credits (i) 77,032 (77,032) 0 697,662 697,662 Other 45,366 72,523 117,889 (1,197) 116,692 12,277,265 521,424 (234,402) 12,564,287 189,126 (1,549,020) 11,204,393 Liabilities Amortization of goodwill based on future profitability 722,222 2,875 725,097 (2,664) 722,433 Tax depreciation 3,737,169 439,781 4,176,950 (125,488) 4,051,462 PIS/COFINS credit - exclusion of ICMS from the calculation basis 0 331,479 331,479 (141,830) 189,649 Temporary adjustments 158,232 (69,239) 88,993 331,322 420,315 Present value adjustments and amortized cost 79,920 74,771 154,691 7,906 261,354 423,951 Amortization of fair value adjustments on the assets from the acquisiton of Braskem Qpar 279,321 (46,888) 232,433 (45,796) 186,637 Other 4,827 (46,389) 46,388 4,826 29,706 (29,706) 4,826 4,981,691 686,390 46,388 5,714,469 53,156 231,648 5,999,273 Net 7,295,574 (164,966) (280,790) 6,849,818 135,970 (1,780,668) 5,205,120 Presentation in the balance sheet: Non-current assets 8,529,972 8,257,252 6,358,601 (-) Non-current liabilities 1,234,398 1,407,434 1,153,481 (i) Tax credits refer to the income tax paid by subsidiaries abroad, to be used by Braskem S.A. in the coming years. (b) Offset for the purpose of presentation in the consolidated statement of financial position Schedule of deferred taxes offset for the purpose of presentation in the balance sheet 2022 2021 Headquarters (Country) Tax calculation Offsetting Balance Tax calculation Offsetting Balance Assets Braskem S.A. Brazil 8,356,402 (2,584,962) 5,771,440 8,841,886 (2,496,637) 6,345,249 Braskem Argentina Argentina 21,339 (16,174) 5,165 3,271 - 3,271 Braskem America USA 356,598 (356,598) - 294,328 (294,328) - Braskem Alemanha Germany 23,038 - 23,038 44,417 - 44,417 Braskem Chile Chile 47 47 92 92 Braskem Holanda Netherlands 195,042 (39,696) 155,346 - Braskem Idesa Mexico 2,078,206 (1,840,669) 237,537 3,282,125 (1,506,541) 1,775,584 Braskem Idesa Serviços Mexico - - - 26 - 26 Braskem México Serviços Mexico 13,628 13,628 2,502 2,502 Braskem México Mexico 86,368 86,368 16,181 16,181 Cetrel Brazil 39,387 (5,405) 33,982 40,434 (7,586) 32,848 DAC Brazil 32,617 (2,262) 30,355 39,025 (1,943) 37,082 Terminal Química Mexico 1,618 1,618 Voqen Brazil 103 (26) 77 11,204,393 (5,001,138) 6,358,601 12,564,287 (4,307,035) 8,257,252 Liabilities Braskem S.A. Brazil 2,584,962 (2,584,962) - 2,496,637 (2,496,637) - Braskem America USA 1,493,471 (356,598) 1,136,873 1,701,762 (294,328) 1,407,434 Braskem Argentina Chile 16,174 (16,174) - - Braskem Holanda Netherlands 39,696 (39,696) - - Braskem Idesa Mexico 1,840,669 (1,840,669) - 1,506,541 (1,506,541) - B&TC Netherlands 16,608 16,608 - Cetrel Brazil 5,405 (5,405) - 7,586 (7,586) - DAC Brazil 2,262 (2,262) - 1,943 (1,943) - Voqen Brazil 26 (26) - - 5,999,273 (4,845,792) 1,153,481 5,714,469 (4,307,035) 1,407,434 |
Sundry provisions
Sundry provisions | 12 Months Ended |
Dec. 31, 2022 | |
Sundry Provisions | |
Sundry provisions | 23 Sundry provisions Schedule of sundry provisions 2022 2021 Provision for environmental damages 1,120,188 1,035,426 Provision for customers rebates 126,754 101,253 Other 130,005 152,584 Total 1,376,947 1,289,263 Current liabilities 530,814 465,051 Non-current liabilities 846,133 824,212 Total 1,376,947 1,289,263 (a) Provision for environmental damages The provision for environmental damages is estimated based on current legal and constructive requirements, technology, price levels and expected remediation plans. Realized costs and cash outflows may differ from current estimates due to the changes in laws and regulations, public expectations, prices, new findings by the ongoing studies and analysis of local conditions and changes in remediation technologies. The time and value of future expenses related to environmental liabilities are reviewed annually, as well as the interest rate used for discounting them to present value. The Company operates in several countries and is subject to different environmental laws and regulations inherent to the operations and activities areas. Remediation expenses are incurred over several years due to their complexity and extension. New information on websites, new technologies or future developments, such as involvement in investigations by regulatory agencies, may require that we reevaluate our potential exposure related to environmental matters. The provision is recorded based on the areas in which remediation actions will be necessary. Due to the high complexity in identifying potential environmental impacts, alternative solutions and recovery costs estimations, these estimates can only be made with reasonable assurance after the completion of all phases of the process to identify and investigate environmental liabilities, which are in accordance with the phases and protocols established by environmental agencies. The Company monitors the areas under study to capture any new facts and changes in circumstances that change the prognosis of actions to be adopted and consequently affect the estimation of provision for environmental remediations. (b) Rebates Some sales agreements of the Company provide for a rebate in products should certain sales volumes be achieved within the year, six-month period or three-month period, depending on the agreement. The bonus is recognized monthly in a provision, assuming that the minimum contractual amount will be achieved. (c) Changes in provisions Schedule of changes in sundry provisions Recovery of environmental damage Rebate Other Total December 31, 2020 602,490 123,465 148,253 874,208 Additions, monetary adjustments and exchange variation 576,086 144,710 114,395 835,191 Payments and reversals (143,150) (166,922) (110,064) (420,136) - December 31, 2021 1,035,426 101,253 152,584 1,289,263 Additions, monetary adjustments and exchange variation 299,241 184,142 19,777 503,161 Payments and reversals (214,479) (158,641) (42,357) (415,477) - December 31, 2022 1,120,188 126,754 130,005 1,376,947 |
Provisions for legal proceeding
Provisions for legal proceedings and contingent liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Provisions For Legal Proceedings And Contingent Liabilities | |
Provisions for legal proceedings and contingent liabilities | 24 Provisions for legal proceedings and contingent liabilities Braskem is a defendant in lawsuits and administrative proceedings arising from the normal course of its business. The Management, based on its assessment and that of its external legal advisors, classifies these proceedings in terms of probability of loss as follows: Probable chance of loss Possible chance of loss: The Management believes that the estimates related to the outcome of the proceedings and the possibility of future disbursement may change in view of the following: (i) higher courts may decide in a similar case involving another company, adopting a final interpretation of the matter and, consequently, advancing the termination of the proceeding involving the Company, without any disbursement or implying the need of any financial settlement of the proceeding; and (ii) programs encouraging the payment of the debts implemented in Brazil at the Federal and State levels, in favorable conditions that may lead to a disbursement that is lower than the one that is recognized in the provision or lower than the value of the matter. In addition, the Company also is a plaintiff in several lawsuits. In these cases, the Company discloses the contingent asset when the receipt of economic benefits is probable. However, when the realization of the benefit is virtually certain, the related asset no longer constitutes a contingent asset, and as such amount is recognized. Any changes in the court’s understanding of the position could cause future impacts on the consolidated financial statements of the Company due to such proceedings. 24.1 Lawsuits with probable losses Claims with probable chance of loss and contingent liabilities - 2022 2021 Labor claims (a) 212,657 268,758 Tax claims (b) IR and CSL 51,756 61,946 PIS and COFINS 311,433 299,202 ICMS 348,544 331,094 Other tax claims 24,160 22,857 735,893 715,099 Corporate claims 103,387 94,826 Civil claims and other 119,561 75,147 1,171,498 1,153,830 (a) Labor claims As of December 31, 2022, the provision is related to 472 labor claims, including occupational health and security cases (2021: 529). The Management, based on its assessment and that of its external legal advisors, estimate that the term for the termination of these types of claims in Brazil exceeds five years. The estimates related to the outcome of proceedings and the possibility of future disbursement may change in view of new decisions in higher courts. (b) Tax claims As of December 31, 2022, the main claims are the following: (i) Non-cumulative PIS and COFINS The Company is charged amounts arising from compensation of Non-Cumulative PIS and COFINS tax credits in the years 2005, 2010 and in the period from 2012 to 2018 that were not approved by the Federal Revenue Service of Brazil ("RFB"), mainly related to the following topics: - Offsetting Statements, with credits in amounts that exceeded those declared in the respective Statement of Calculation of Social Contributions; - freight expenses: not associated with sales operations and/or operations without proven association and contracted in the country, but concerning imported products; - credits arising from the acquisition of property, plant and equipment mostly related to acquired companies, whose documentation was not found; - taxation of revenues incorrectly classified as tax exempt, subject to zero tax rate or not taxed. As of December 31, 2022, the balance of this provision was R$212,223 (2021: R$202,737). The Management, based on its assessment and that of its external legal advisors and considering the precedents on the matters at the Administrative Council of Tax Appeals (“CARF”), estimates that the administrative procedures will be concluded in 2026. (ii) PIS and COFINS taxes The Company is assessed for the payment of these taxes in many legal claims, such as: - insufficient payment of COFINS for the period from March 1999 to December 2000, from February 2001 to March 2002, from May to July 2002 and September 2002 due to alleged calculation errors, and non-compliance with the widening the tax calculation base and increasing the contribution rate envisaged in Law 9.718/1998; - offset of the COFINS dues relating to September and October 1999 using the credit resulting from the addition of 1% to the COFINS rate; - rejection of the offset of PIS and COFINS dues relating to the period from February to April 2002 using the PIS credits under Decree-Laws 2.445 and 2.449, calculated between June 1990 and October 1995, under the argument that the time period for using said credits had expired; and On December 31, 2022, the balance of this provision was R$69,641 (2021: R$67,403). Management, based on its assessment and that of its external legal advisors, estimates these procedures will conclude by 2030. The Company offered guarantees in the form of bank guarantees and finished products, which, together, fully cover the amount of claims. (iii) ICMS tax on interstate purchases In 2009, the merged company Braskem Qpar was assessed by the Finance Department of the State of São Paulo for the payment of ICMS in view of alleged violations: - undue use of tax credits in the amount of R$58,164, due to the recording of credits indicated in the invoices for the sale of certain products, issued by Acrinor Acrilonitrila do Nordeste S.A. and Proquigel Química S.A., since the products were to be exported, and were therefore exempt from payment of ICMS tax; - the fine for the abovementioned tax offense corresponds to 100 - fine in the amount of 30% on R$ 480,389 - fine due to lack of presentation of tax documents requested. After ending the discussions in the administrative sphere, with the partial reduction in contingency, the Company proposed lawsuits to continue the discussion, which were secured by a guarantee insurance. On December 31, 2022, the balance of this provision was R$ 329,125 313,380 (c) Changes in claims with probable chance of loss Schedule of changes in claims with probable chance of loss Civil claims Labor claims Tax claims claims and other Total December 31, 2020 280,066 692,735 126,057 52,229 1,151,087 Additions, inflation adjustments and exchange variation 172,574 46,849 14,357 76,111 309,891 Payments (70,968) (3,659) (40,109) (2,770) (117,506) Reversals (*) (112,914) (20,826) (5,479) (50,423) (189,642) December 31, 2021 268,758 715,099 94,826 75,147 1,153,830 Additions, monetary adjustments and exchange variation 128,682 60,627 9,048 76,227 274,584 Payments (57,750) (8,792) - (3,243) (69,785) Reversals (*) (127,033) (31,041) (487) (28,570) (187,131) - December 31, 2022 212,657 735,893 103,387 119,561 1,171,498 (*) A provision reversal occurs when the probability of loss or the value attributed to the lawsuit changes, or the suit is closed with a cash disbursement lower than the provisioned amount. 24.2 Contingent liabilities The contingent liabilities whose loss is assessed as possible (possibility of loss greater than remote and less than probable) by the Company’s Management, based on its evaluation and that of its external legal advisors, are disclosed as follows: Schedule of claims with probable chance of loss Note 2022 2021 Tax claims (a) 18,270,680 17,224,429 Civil claims - Alagoas 26 5,489,479 2,614,344 Civil claims - Other (b) 786,441 737,083 Labor claims (c) 605,546 763,555 Environmental claims (d) 639,880 571,057 Social security claims (e) 515,506 398,783 Other lawsuits (f) 380,862 337,807 Total 26,688,394 22,647,058 (a) Tax claims (i) IR/CSL: Charges with goodwill amortization The subsidiaries Cetrel and DAC were notified by the Brazilian Federal Revenue Service, (Secretaria da Receita Federal do Brasil, hereinafter “RFB”), in December 2020 and June 2021, respectively, for the deduction of tax amortization charges on goodwill arising from the acquisition of equity interests in 2012. As of December 31, 2022, the updated amount of these claims was R$ 194,695 179,370 with conclusion expected by 2026. (ii) IR/CSL: Exchange variation on naphtha imports In December 2017 and December 2020, the Company received a tax deficiency notice related to the disallowance of exchange variation expenses between the due date of commercial invoices and the effective payment of obligations related to naphtha imports, related to calendar years 2012 and 2015, respectively. In relation to year 2012, disallowances led to the adjustment of tax losses and social contribution tax loss carryforwards. For 2015, a tax credit was considered along with a qualified fine corresponding to 150 The tax deficiency notice issued in December 2020 also resulted in partial disallowance of the cost of naphtha imported from its subsidiary abroad, in an amount corresponding to the profit margin calculated by the subsidiary in the naphtha resale operations, carried out in 2014 and 2015. As of December 31, 2022, this uncertain tax treatment is R$ 1.2 1.1 (iii) ICMS: Credit reversal on output with tax deferral In July and December 2020, the Company was notified, by the State of Alagoas, due to the lack of ICMS tax payment arising from the alleged lack of reversal of the tax credited in operations prior to outflows with tax deferral. On December 31, 2022, the value of these cases was R$ 639 587 The administrative proceedings should be concluded by 2025. (iv) IR/CSL: Foreign earned income – Braskem Holanda The Company received a deficiency notice from RFB, referring to fiscal years 2015 and 2016, stating its disagreement with applying the Agreement between Brazil and the Netherlands to avoid double taxation, which establishes that Dutch companies' profits cannot be taxed in Brazil. On December 31, 2022, the amount of the uncertain tax treatment is R$ 10.6 8.8 The administrative proceedings should be concluded by 2026. (v) PIS and COFINS: taxation of liability reductions settled in connection with the installment plan under Provisional Executive Order (“MP”) 470/2009 The Company received notice for not applying to PIS and COFINS taxes the reductions for fines and interest, in view of the adoption of the installment plan offered by the Federal Government under MP 470/2009. In March 2023, the Company obtained favorable opinion from court of last resort (the Superior Chamber of the Tax Resources Administrative Board) cancelling the full collection. In accordance to the Management, based on its evaluation and that of its external legal advisor, an appeal from the National Treasury is not applicable and, hence, the probability of loss was changed from possible to remote. On December 31, 2022, the updated value of this proceeding is R$ 967 910 (vi) IR/CSL: Charges with goodwill amortization The Company was served by the RFB for deducting amortization charges, from 2007 to 2013, relating to goodwill originated from acquisitions of shareholding interests in 2002. In 2002, Braskem foundation was fulfilled due to petrochemical assets disposals from several business groups. On December 31, 2022, the updated contingency estimate is R$ 1.1 1.1 These administrative proceedings should be concluded by 2025, while the current court proceeding should be concluded by 2030. The Company offered a performance bond that covers the total amount involved in the court proceedings. (vii) Non-cumulative PIS and COFINS taxes The Company received a deficiency notice from the RFB due to the use of non-cumulative PIS and COFINS tax credits in the acquisition of certain goods and services consumed in its production process in matters that have already been contested at the administrative and court level and comprise the period from 2004 to 2018. As of December 31, 2022, the amount under discussion of these notices is R$ 1.4 1.3 The administrative proceedings should be concluded by 2026, while the lawsuits should be concluded by 2032. The Company offered a performance bond that covers the total amount involved in the court proceedings. (viii) IR/CSL: Unlimited offsetting In December 2009 and March 2017, the Company received tax deficiency notices claiming that the methodology used to offset tax losses and tax loss carryforwards that failed to observe the limit of 30% of the Taxable Profit and Social Contribution calculation base when offsetting such liabilities with Corporate Income Tax and Social Contribution liabilities in merger operations, respectively, in November 2007 and August 2013. As of December 31, 2022, the updated value of the contingency amounted to R$ 462 430 The Company offered performance bonds that cover the total amount involved in the court proceeding. (ix) ICMS The Company challenges ICMS collection drawn up in the States of São Paulo, Rio de Janeiro, Rio Grande do Sul, Bahia, Pernambuco and Alagoas, which materialized in administrative and court proceedings, including the following topics: · ICMS credit on the acquisition of assets that are considered by tax authority as being for use and consumption, which as such do not produce a right to the credit because they are not physically part of the end product; · ICMS credit arising from the acquisition of assets to be used in property, plant and equipment, which is considered by tax authority as not being related to the production activity, such as laboratory equipment, material for the construction of warehouses, security equipment, etc.; · internal transfer of finished products for an amount lower than the production cost; · omission of the entry or shipment of goods based on physical count of inventories; · lack of evidence of exports of goods with shipment presumably taxed for the domestic market; · non-payment of ICMS on the sale of products subject to tax substitution and credit from acquisitions of products subject to tax substitution; · fines for the failure to register invoices; and · nonpayment of ICMS tax on charges related to the use of the electricity transmission system in operations conducted in the Free Market of the Electric Power Trading Chamber. As of December 31, 2022, the updated value of these proceedings was R$ 768 756 These administrative proceedings are expected to be terminated in 2027, while the court proceedings are expected to be terminated in 2031. The Company offered performance bonds that cover the total amount involved in the current court proceedings. (x) PIS and COFINS sundry The Company is involved in collection actions related to PIS and COFINS assessments in the judicial courts, which discuss the alleged undue offsetting of credits arising from other proceedings, including: (i) Income Tax prepayments; (ii) FINSOCIAL; (iii) tax on net income (ILL); (iv) PIS-Decrees – Federal Laws 2.445 and 2.449; and (v) the COFINS tax arising from the undue payment or payment in excess. As of December 31, 2022, the updated amounts involved of these assessments total R$ 136 131 These judicial proceedings are expected to be terminated in 2025. The Company offered guarantees that cover the total amount involved in the court proceedings. (xi) IRRF and IR/CSL: Commission expenses In December 2017, the Company received a tax deficiency notice from the RBF arising from: (i) the disallowance of commission expenses paid by Braskem in 2011; (ii) the disallowance of commission expenses paid by Braskem Inc. in 2013 and 2014; (iii) lack of payment of withholding income tax (“IRRF”) on the payments referred to in the previous item; and (iv) the disallowance of advertising expenses incurred in 2013. On December 31, 2022, the updated amount of taxes and tax effects from disallowances of income tax losses and social contribution tax loss carryforwards in the tax deficiency notice is R$ 153 142 This administrative proceeding should be concluded by 2024. (xii) Fines on tax credits used In 2015 through 2022, the Company received notifications of individual fines imposed due to the use of credits from: (i) non-cumulative PIS/COFINS taxes; (ii) negative balances of IR/CSL taxes; (iii) REINTEGRA credits; and (iv) other credits, for offsets not approved by the RFB. As of December 31, 2022, the updated value of these deficiency notices amounted to R$ 353 310 These administrative proceedings should be concluded by 2027. (xiii) IR/CSL: Negative Balance – Offset The Company claims, at the administrative and judicial levels, that RFB denies offsets seeking to settle federal taxes with credits arising from negative balance of IR/CSL. As of December 31, 2022, the updated value of the taxes whose offset was not approved amounted to R$ 176 173 These administrative proceedings should be concluded by 2024, while the lawsuits should be concluded by 2030. The Company offered a performance bond that covers the total amount involved in the current court proceedings. (xiv) PIS and COFINS: Cide-Fuels Tax Offset The Company is a party to lawsuits claiming PIS and COFINS tax liabilities arising from their offset using Cide-Fuels tax credits, as authorized under Federal Law 10.336/2001. As of December 31, 2022, the updated value of these cases was R$ 123 118 The Company offered a performance bond that covers the total amount involved in the court proceedings. (b) Civil claims (i) Resale of solvents In January 2017, the Company became defendant in a civil lawsuit filed by former reseller of solvents, claiming alleged breach of a tacit distribution agreement. The lawsuit is pending judgment. As of December 31, 2022, the claims prepared by the other party amounted to R$ 302 265 (ii) Hashimoto Public-Interest Civil Action The Public-Interest Civil Action was filed in June 2018 by the São Paulo State Public Prosecutor’s Office against the Company and other firms that operate in the Capuava Petrochemical Complex, claiming the reparation and/or remediation of environmental damages supposedly arising from the emission of pollutants into the air, as well as the joint judgement of companies that comprise said complex seeking environmental moral damages in the updated amount of R$201 million (2021: R$175 million). Braskem filed its defense in December 2020, which is awaiting expert evidence. This lawsuit should be concluded by 2030. (c) Labor claims Lawsuits filed by former team members and contractors who provided services to Braskem, and are chiefly related to overtime, wage parity and other amounts established in labor laws. (d) Environmental claims Public-Interest Civil Action filed in September 2011 by the Local Government of the city Ulianópolis in Pará State against Braskem and other companies, claiming reparation and/or remediation of environmental damage allegedly resulting from the delivery of waste to the Brazilian Bauxite Company , which had not disposed of it properly, polluting an area of the Municipality of Ulianópolis, as well as the joint and several liability of these companies for the payment of indemnification for environmental damage in the updated amount of R$ 363 325 The companies filed their defense, however, a decision was rendered determining the temporary dismissal of the action for one year. This action should be concluded by 2030. (e) Social security claims In 2012, the Company withdrew sponsorship of the plans Petros Copesul and Petros PQU, and, in 2009, Petros Copene, whose private pension entity was Petros, remaining the obligation established under the Sponsorship Withdrawal Instrument to pay the mathematical reserves of Members, pursuant to Complementary Law 109/2001, which was met in 2015. However, after the payment, several beneficiaries filed individual and collective action regarding various claims, such as: (i) Difference of the Individual Withdrawal Fund; (ii) Change in base date; (iii) age limiter; (iv) 90% of supplementation; (v) Return of Contributions; (vi) Difference in Savings Account Reserve; (vii) Objection against legality of Sponsorship Withdrawal. Currently, this portfolio is composed of 729 active cases (2021: 783), of a financial contingency nature, representing an estimated amount of R$ 379 332 (f) Other lawsuits (i) Incentivized Preferred Shares The Company currently is subject to the liquidation of an award related to a lawsuit filed in 1988, whose decision required Polialden Petroquímica S.A. (“Polialden”), a company merged into Braskem, to pay certain non-controlling shareholders that hold preferred shares in Polialden the distribution of the remaining net profit of the company. The liquidation of award aims to determine the value of the dividends to be paid in accordance with the terms of the decision. The process is awaiting the start of the expert evidence. As of December 31, 2022, based on Management’s assessment and that of its external legal advisors, the Company recorded a provision of R$ 21 19 262 283 257 (ii) Social security – hazardous agents The Company is a party to other proceedings, which claim payments of additional contribution for Occupational Environmental Risk to fund the special retirement plan due to the alleged exposure of workers to hazardous agents: (a) in the administrative sphere (a.1) in the period from April 1999 to February 2006, jointly with a fine due to failure to declare the generating factor of the contribution to GFIP, and (a.2) in the period from January 2016 to July 2018; (b) in the legal sphere, in the periods from November 2000 to January 2001 and November 2001 to June 2002. On December 31, 2022, the adjusted amount of these proceedings is R$ 203 187 The administrative proceedings should be concluded by 2025, while the only current court proceeding should be concluded by 2028. The Company pledged a performance bond that covers the total amount involved in the current court proceeding. 24.3 Class action On August 25, 2020, an action was filed against Braskem and some of its current and former executives in the US District Court for the District of New Jersey, in the United States, on behalf of an alleged class of investors who acquired Braskem's shares. The action was grounded in the U.S. Securities Exchange Act of 1934 and its rules, based on allegations that the defendants made false statements or omissions related to the geological event in Alagoas. On December 15, 2022, the parties entered into Agreement to terminate the Class Action via payment of US$3 million, which was carried out in January 2023. On December 20, 2022, as the first measure for approval of the Agreement, the lead plaintiff filed a preliminary approval motion, and the U.S. District Court for the District of New Jersey will follow the required procedure for approval of the Agreement. The extinction of Class Action will be declared only after approval of the Agreement and after the obligations assumed by the parties of the Agreement are met. Braskem cannot predict precisely all costs in solving this dispute. The Company may be named as a defendant in other similar legal actions. 24.4 Contingent assets Contingent assets normally arise from unplanned or unexpected events that give rise to the possibility of an inflow of economic benefits to the Company. Contingent assets are not recognized in the consolidated financial statements, but they are disclosed when it is likely that an inflow of economic benefits will occur. However, when the inflow of benefits is virtually certain, the asset is recognized in the financial position statement because that asset is no longer considered contingent. (i) Compulsory loans: Centrais Elétricas Brasileiras S.A. (“Eletrobras”) The compulsory loan in favor of Eletrobras was established by Federal Law 4.156/62, to finance the energy industry and remained effective until 1993. It was collected through the energy bills of industrial consumers with monthly consumption equal to or higher than 2000kwh and, after successive amendments to the law, the reimbursement was extended to 20 years, plus compensatory interest of 6% per year, which can be anticipated through conversion of credits into shares issued by Eletrobras. Between 2001 and 2009, the companies merged into Braskem S/A filed proceedings seeking the recovery of amounts related to differences in the inflation adjustment of the compulsory loan, interest on arrears and compensatory interest and other related payments. The Company obtained a favorable final and unappealable decision in the cases of the merged companies Alclor Química de Alagoas Ltda., Companhia Alagoas Industrial – Cinal, Companhia Petroquímica do Sul S.A. – Copesul and Trikem S. A., which are currently in the execution phase. The cases of the merged companies Ipiranga Petroquímica S.A., Petroquímica Triunfo Ltda. and Quattor Química S.A are in the cognizance phase. The term, form and amount to be realized are still uncertain, so it is not possible to determine the amount to be received and, for such reason, the asset does not meet the conditions to be recorded in the consolidated financial statements. |
Leniency agreement with authori
Leniency agreement with authorities | 12 Months Ended |
Dec. 31, 2022 | |
Leniency Agreement With Authorities | |
Leniency agreement with authorities | 25 Leniency agreement with authorities In the context of allegations of undue payments in connection with Operation Car Wash in Brazil, the Company hired external experts in investigation to conduct an independent investigation into such allegations (“Investigation”) and to report their findings. In December 2016, the Company entered into Leniency Agreements with the Federal Prosecution Office ( Ministério Público Federal 957 3.1 Controladoria-Geral da União Advocacia-Geral da União As of December 31, 2022, the Company paid R$3,070,578, distributed as shown below: Schedule of Company already has paid distributed as shown below: AGU Agreements signed with: . CGU and MPF DoJ (i) OAG (i) MPF SEC (i) Total Amounts paid 877,763 296,591 407,300 1,282,464 206,460 3,070,578 (i) U.S. Department of Justice ("DoJ"); Swiss Office of the Attorney General ("OAG") and U.S. Securities Exchange Commission ("SEC"). As of December 31, 2022, the outstanding amount is R$ 903,140 392,486 510,654 Braskem’s activities related to the monitoring by the CGU of the Company were successfully concluded, and no pending issues involving the Company remained, the CGU will present the Final Monitoring Report and prepare the Agreement. Moreover, the Company is in compliance with all of its obligations under the Agreements and continues to cooperate with government authorities. |
Geological event - Alagoas
Geological event - Alagoas | 12 Months Ended |
Dec. 31, 2022 | |
Geological Event - Alagoas | |
Geological event - Alagoas | 26 Geological event - Alagoas The Company operated, since its formation and subsequently as the successor of the company Salgema, salt mining wells located in Maceió city, with the purpose of supplying raw material to its chlor-alkali and dichloroethane plant. In March 2018, an earthquake hit certain districts of Maceió, Alagoas, where the wells are located, and cracks were found in buildings and public streets of Pinheiro, Bebedouro, Mutange and Bom Parto districts. In May 2019, the Geological Survey of Brazil (“CPRM”) issued a report, indicating that the geological phenomenon observed in the region, could be related to the rock salt exploration activities developed by Braskem. In view of these events, on May 9, 2019, Braskem preventively decided to suspend its salt mining activities and the operation of its chlor-alkali and dichloroethane plant. Since then, the Company has been devoting its best efforts to understand the geological event: (i) possible surface effects; and (ii) the analyses of well’s stability. The results are being shared with the Brazilian National Mining Agency (“ANM”) and other pertinent authorities, which the Company has been maintaining constant dialogue. Braskem presented to ANM the measures for shutting down its salt mining fronts in Maceió, with measures for the closure of its wells, and, on November 14, 2019, it proposed the creation of a protective area surrounding certain wells as a precautionary measure to ensure public safety. These measures are based on a study conducted by the Institute of Geomechanics of Leipzig (IFG), in Germany, an international reference in the geomechanical analysis of areas of salt extraction by dissolution and are being adopted in coordination with the Civil Defense of Maceió and other authorities. As a result of the geological phenomenon, negotiations were conducted with public and regulatory authorities that resulted in the Agreements executed, including: i) Agreement to Support the Relocation of People in Risk Areas (“Agreement for Compensation of Residents"), entered into with State Prosecution Office (“MPE”), the State Public Defender’s Office (“DPE”), the Federal Prosecution Office (“MPF”) and the Federal Public Defender’s Office (“DPU”), which was ratified by the court on January 3, 2020, adjusted by its resolutions and subsequent amendments, , which establish cooperative actions for relocating residents from risk areas, defined in the Map of Sectors of Damages and Priority Action Lines by the Civil Defense of Maceió (“Civil Defense Map”), as updated in December 2020 (version 4), and guaranteed their safety, which provides support, under the Financial Compensation and Support for Relocation Program (“PCF”) implemented by Braskem to the population in the areas of the Civil Defense Map, as well as the dismissal of the Public-Interest Civil Action (Reparations for Residents), as detailed in Note 26.1 (i). (ii) Agreement to Dismiss the Public-Interest Civil Action on Socio-Environmental Reparation and the Agreement to define the measures to be adopted regarding the preliminary injunctions of the Public-Interest Civil Action on Socio-Environmental Reparation (jointly referred to as “Agreement for Socio-Environmental Reparation”), signed with the MPF with the MPE as the intervening party, on December 30, 2020, in which the Company mainly undertook to: (i) adopt measures to stabilize and monitor the subsidence phenomenon arising from salt mining; (ii) repair, mitigate or compensate possible environmental impacts and damages arising from salt mining in the Municipality of Maceió; and (iii) repair, mitigate or compensate possible socio-environmental impacts and damages arising from salt mining in the Municipality of Maceió, as well as the termination of the Public-Interest Civil Action (Socio-environmental Reparation) related to the Company, as detailed in Note 26.1 (ii). Moreover, the Agreement for Socio-Environmental Reparation envisages the inclusion of other parties, which depends on specific negotiation with such potential parties. Thus, the Company has been meeting all obligations assumed with the authorities and acting proactively on all fronts to resolve the issues arising from the geological event. Highlights: (i) PCF significant advances on assisting public authorities to vacate properties located in the risk areas and submitting full financial compensation offers with a high level of acceptance; (ii) the actions for closing and monitoring the salt wells, which are following the mining closure plan approved by the ANM, seeking to stabilize the subsidence phenomenon resulting from salt mining; and (iii) the social and environmental diagnoses conducted in connection with the Socio-Environmental Reparation Agreement. As assessed by the Company and its external advisors, considering the measures recommended on technical studies in the short and long-term and the existing information and refined estimates of expenses for implementing several measures connected with the geological event in Alagoas, the provision recorded on December 31, 2022, shows the following changes in the period: Schedule of following table shows the changes in the provision in the period 2022 2021 2020 Balance at the beginning of the year 7,661,259 9,175,777 3,383,067 Additions 1,520,019 1,339,765 6,901,827 Payments and reclassifications (*) (2,742,791) (2,928,081) (1,181,931) Realization of present value adjusment 188,071 73,798 72,814 Balance at the end of the year 6,626,558 7,661,259 9,175,777 Current liability 4,247,609 4,378,071 4,349,931 Non-current liability 2,378,949 3,283,188 4,825,846 Total 6,626,558 7,661,259 9,175,777 (*) Of this amount, R$2,532,138 (2021: R$2,739,686) refers to payments made and R$210,653 (2021: R$188,395) was reclassified to other accounts payable. The current provision can be segregated into the following action fronts: a. Support for relocating and compensating for the residents, business and real state owners of properties located in the Civil Defense Map (version 4) updated in December 2020, including establishments that requires special measures for their relocation, such as hospitals, schools and public equipment. These actions have a provision of R$ 2,087,142 3,390,849 b. Actions for closing and monitoring the salt wells, environmental actions and other technical matters. Based on the findings of sonar and technical studies, stabilization and monitoring actions were defined for all 35 existing salt mining wells. Based on studies of the specialists, the recommendation was to fill 5 more salt wells with solid material, bringing the total wells to be filled to 9, a process that should take 4 years. For the remaining 26, the recommended actions are: conventional closure using the tamponade technique, which consists of promoting the cavity pressurization, applied worldwide for post-operation cavities; confirmation of natural filling status; and, for some wells, sonar monitoring. The provisioned amount of R$ 1,367,269 1,691,032 The monitoring system implemented by Braskem envisages actions developed during and after the closure of wells, focusing on safety and monitoring of the region’s stability. The Company’s actions are based on technical studies conducted by outsourced specialists, with the recommendations presented to the competent authorities. The Company is implementing the actions approved by ANM. In June 2022, in compliance with the Agreement for Socio-environmental Reparation, Braskem submitted to the MPF the environmental diagnosis containing the assessment of the potential environmental impacts and damages arising from salt mining activities and the environmental plan with proposals of the measures required. As established in the agreement, the parties jointly defined the specialized company that will evaluate and monitor the environmental plan. In December 2022, an additional report on the environmental plan was filed with the MPF. In February 2023, MPF expressed its agreement with this environmental plan, incorporating the suggestions provided in the additional report. Braskem initiated the actions foreseen by the plan, implementing the commitments established in the agreement and sharing the results of its actions with the authorities. Also is agreed that the environmental diagnosis will be updated in December 2025. c. Social and urban measures, under the Agreement for Socio-environmental Reparation signed on December 30, 2020, allocating R$1,580,000 for the adoption of actions and measures in vacated areas, urban mobility and social compensation actions, of which R$300 million going to indemnification for social damages and collective pain and suffering and possible contingencies related to the actions in the vacated areas and urban mobility actions. The provision amount, updated by inflation index established in the agreement, is R$1,567,842 (2021: R$1,577,186). d. Additional measures, for which the provision amounts to R$1,604,305 (2021: R$1,002,192), for expenses with: (i) actions related to the Technical Cooperation Agreements entered into by the Company; (ii) the hiring of external advisors to support the execution of the relocation actions and compensation of the families; (iii) infrastructure for assisting residents; (iv) expenses with managing the geological event in Alagoas relating to communication, compliance, legal services, etc.; (v) additional measures to assist the region and maintenance of areas, including actions for requalification and indemnification directed to Flexais region; and (vi) other matters classified as a present obligation for the Company, even if not yet formalized. The provisions of the Company are based on current estimates and assumptions and may be updated in the future due to new facts and circumstances, including, but not limited to: changes in the execution time, scope and method; the success of action plans; new repercussions or developments arising from the geological event, including possible revision of the Civil Defense map; and possible studies that indicate recommendations from specialists, including the Technical Monitoring Committee, according to Agreement for Compensation of Residents, and other new developments in the matter. The measures related to the mine closure plans are also subject to the analysis and approval by ANM, the monitoring of results of the measures under implementation as well as changes related to the dynamic nature of geological event. Continuous monitoring is essential for confirming the results of the current recommendations. Accordingly, the plans to close the wells may be updated based on the need to adopt technical alternatives to stabilize the subsidence phenomena arising from the extraction of salt. In addition, the assessment of the future behavior of cavities monitored using sonar and piezometers could indicate the need for certain additional measures to stabilize them. The actions to repair, mitigate or offset potential environmental impacts and damages, as provided for in the Socio-environmental Reparation Agreement, will be defined considering the environmental diagnosis already prepared by a specialized and independent company. After the conclusion of all discussions with authorities and regulatory agencies, as per the process established in the agreement, an action plan will be agreed to be part of the measures for a Plan to Recover Degraded Areas (“PRAD”). Furthermore, the Socio-Environmental Reparation Agreement envisages the potential adherence by other parties, including the Municipality of Maceió. Also in the context of understandings with the authorities to address claims related to the event in Alagoas, on October 26, 2022, the 3 rd The Company has been making progress with local authorities about other indemnification requests to understand them better, resulting in advances in the understanding between the parties that may result in an agreement . It is not possible to anticipate all new claims, related to damages or other nature, that may be brought by individuals or groups, including public or private entities, that understand they suffered impacts or damages somehow related to the geological phenomenon and the relocation of people from risk areas, as well as new notices of infraction or administrative penalties of diverse natures. Braskem continues to face and could still face administrative procedures and various lawsuits filed by individuals or legal entities not included in the PCF or that disagree with the financial compensation offer for individual settlement, as well as new collective actions and new lawsuits filed by public utility concessionaires, entities of the direct or indirect administration of the State, Municipality or Federal level. Therefore, the number of such actions, their nature or the amounts involved cannot be estimated at this moment. Consequently, the Company cannot eliminate the possibility of future developments related to the geological event in Alagoas, the relocation process and actions in vacated and adjacent areas, so the expenses to be incurred may differ from its estimates and provisions. In February 2023, the Company signed a settlement agreement with the insurance companies related to the claim for the geological event in Alagoas. 26.1 Lawsuits pending In the context of this event, the following lawsuits were filed against the Company: (i) Public-Interest Civil Action (“ACP”) filed by the Alagoas State Prosecution Office and the Alagoas State Public Defender’s Office – Reparation for Residents Public-Interest Civil Action claiming the payment of indemnification for damages caused to the buildings and the residents of areas affected in the Pinheiro district and surrounding areas, in the total minimum amount of R$6.7 billion, with initial request for provisional measure to freeze the Company’s financial and other assets in the same amount. Successive orders to freeze funds resulted in the court blocking of R$3.7 billion in assets in 2019, and the unfreezing occurred in January 2020. Once the case was sent to the Federal Courts, the Federal Prosecution Office started to participate in the action. The first agreement under this Public-Interest Civil Action (Reparation for Residents) was ratified on January 3, 2020. The Agreement to Support the Relocation of People in Risk Areas (“Agreement for Compensation of Residents”), entered into by Braskem and the MPE, the DPE, the MPF and the DPU (“Authorities”), establishes cooperative actions for relocating people in risk areas and guaranteeing their safety, which provides support under the Financial Compensation and Support for Relocation Program implemented by Braskem, for the population in specified risk areas. After updates of the Civil Defense Map, two legal instruments were entered into with the Authorities, in July and October 2020, to include properties in the PCF. On December 30, 2020, the Company and the Authorities executed a second amendment to the Agreement for Compensation of Residents to terminate the Public-Interest Civil Action, through which the parties agreed to include in PCF the relocation of additional properties defined in the updated version of the Civil Defense Map, of December 2020, and in the independent technical and specialized studies engaged by the Company on the potential impact of the geological event on the surface of the region (“Studies”). The Agreement for Compensation of Residents includes the area currently affected by the geological event, according to the Civil Defense, and the areas with potential future impacts indicated in the Studies. To implement the actions envisaged in the Public-Interest Civil Action, the Company undertook to maintain R$2.7 billion in a checking account (R$1.7 billion under the Agreement for Compensation of Residents and an additional R$1 billion under the second amendment), with minimum working capital of R$100 million, whose transactions will be verified by an external audit company. On December 31, 2022, arising from the costs incurred related to the PCF, the balance of this checking account corresponded to R$175,153 under current assets (2021: R$835,517). In addition, the Company and the Authorities agreed to: (i) create a technical group (Technical Monitoring Committee) to monitor the geological event and study the areas adjacent to the Civil Defense Map for a period of five years; and (ii) maintain a performance bond in the current amount of R$1.2 billion (down from the R$2 billion performance bond envisaged in the Agreement for Compensation of Residents). With the judicial ratification by the courts of the Agreement for Compensation of Residents on January 6, 2021, this Public-Interest Civil Action was terminated. (ii) Public-Interest Civil Action filed by the Alagoas State Federal Prosecution Office – Social-environmental reparation Public-Interest Civil Action claiming the payment by the Company of indemnification for socio-environmental damages and other collective damages, as well as the adoption of corrective and environmental compliance measures, with preliminary injunction requiring the freezing of assets, suspension of borrowings with the BNDES, formation of an own private fund in the initial amount of R$3.1 billion and the pledging of guarantees in the amount of R$20.5 billion. The amount of the action was R$27.6 billion. (i) On December 30, 2020, the Agreement for Socio-environmental Reparation was executed, with the Company mainly undertaking to: (i) adopt measures to stabilize and monitor the subsidence phenomenon resulting from salt mining; (ii) repair, mitigate or compensate potential impacts and environmental damages arising from salt mining in the Municipality of Maceió; and (iii) repair, mitigate or compensate potential impacts and social and urban damages arising from salt mining in the Municipality of Maceió, as detailed below: To stabilize the cavities and monitor the soil, the Company continues to implement the action plans involving the closure of mining fronts prepared by Braskem and approved by the ANM, whose measures can be adjusted until the stability of the subsidence phenomenon resulting from salt mining is verified. (ii) Regarding the potential environmental impacts and damages resulting from salt mining in the Municipality of Maceió: as agreed with the MPF, the Company hired a specialized independent company to identify and recommend measures for recovering, mitigating or compensating any environmental impacts identified as the result of salt mining activities in Maceió. The study and the second opinion report on the environmental planning were delivered to the MPF on June 30, 2022 and December 7, 2022, respectively, and will follow the procedures as per the agreement for final consolidation of the actions to be adopted in the mutual agreement between the Company and the MPF, but it is not possible to predict the outcome or if it will result in additional amounts other than those already recorded in the provision. Regarding potential impacts and social and urban damages arising from salt mining in the city of Maceió: to allocate the maximum amount of R$1,280 million for adopting actions and measures in vacated areas, urban mobility actions and social compensation actions. For these social compensation actions and measures, on June 30, 2022, the Company filed with the MPF the report and the respective plan of social action that will be used as base to define the measures to be adopted. Braskem also will allocate the amount of R$300 million for indemnification for social and collective pain and suffering and possible contingencies related to actions in vacated areas and in urban mobility actions. The Company and the Federal Prosecution Office also agreed to hire a specialized consultancy to evaluate the Company’s Social and Environmental Management Program and on the pledging of security interest involving certain assets of the Company in the amount of R$2.8 billion to substitute the performance bond of R$1 billion. The Agreement for Socio-environmental Reparation was ratified by Court on January 6, 2021, with the termination of the Public-Interest Civil Action for Socio-environmental Reparation regarding to Braskem. Moreover, this agreement provides for the possibility of adhesion by other parties, including the Municipality of Maceió. Finally, under the Agreement for Socio-environmental Reparation, on January 21, 2021 the Civil Investigation launched in June 2020 by the MPE was terminated. It aimed to: (i) calculate the extent of the urban damages caused by the geological event that occurred in Maceió; (ii) seek, from liable parties, necessary and adequate architectural solutions for the destination, restoration and/or use of the cited empty spaces left in the districts impacted; (iii) calculate, if applicable, potential compensatory liabilities for the damages caused to the urban order. (iii) Public-Interest Civil Action filed by the Federal Public Defender’s Office (“DPU”): refusal of insurance within the scope of Housing Financial System (“SFH”) Public-interest civil action filed by DPU to question the denial of necessary insurance for contracts under the SFH to acquire properties located within a radius of 1 km outside the risk area defined by the version 4 map of Civil Defense authorities, which is the subject matter of the Residents PCA agreement – see item (i). Insurers linked to SFH, financial agents, the regulatory agency and Braskem are the defendants. The main claim is only against the insurers, financial agents and the regulatory agency on the grounds that the refusal to contract the insurance is abusive and has no technical or legal grounds. There is a secondary and eventual claim to sentence Braskem to pay indemnification in an amount to be settled in the future, if the judge understands that the refusal somehow has grounds due to the subsidence phenomenon. It is not possible to estimate the indemnification amount, which will depend on the evidence of damages submitted by people whose insurance was denied. (iv) Public-Interest Civil Action filed by the Alagoas State Public Defender’s Office – Review of terms of the Flexais Agreement Public-interest civil action filed by DPE against the Company, the Federal Government, the State of Alagoas and the Municipality of Maceió seeking, among other claims, the revision of terms of the Flexais Agreement, signed amongst Braskem, the MPF, the MPE, the DPU, and Municipality of Maceió, ratified on October 26, 2022, by the 3r Through of this lawsuit, the DPE seeks, among other claims, the inclusion of residents of Flexais region, who choose to adhere the PCF, program created under the agreement in ACP (Reparation for Residents), with consequent reallocation of these residents and compensation for moral and material damages in parameters specified in the ACP. As injunction relief, DPE also requested, that the Municipality of Maceió and Braskem initiated the registration of all residents who requested to be relocated and their concomitant inclusion in the PCF, or, alternatively, requested the freeze of Braskem bank accounts in the amount of R$ 1.7 The Management, supported by the opinion of the external legal advisor, classifies the probability of loss in this lawsuit as possible. (v) Indemnity Claim: Companhia Brasileira de Trens Urbanos (“CBTU”) On February 2, 2021, the Company was notified of the filing of a lawsuit by Companhia Brasileira de Trens Urbanos, formulating initially only a preliminary injunction for maintaining the terms of the cooperation agreement signed previously by the parties. The request was denied in lower and appellate courts, given the fulfillment of the obligations undertaken by Braskem. On February 24, 2021, CBTU filed an amendment to the initial request claiming the payment of compensation for losses and damages in the amount of R$222 million and for moral damages in the amount of R$500 thousand, as well as the imposition of obligations, including the construction of a new rail line to substitute the stretch that passed through the risk area. On December 31, 2022, the updated value of this lawsuit is R$1.43 billion (2021: R$1.40 billion). Braskem entered into a memorandum of understanding with CBTU to seek a consensual solution and suspend the lawsuit during the negotiation period and has made progress in the technical understanding about the topic. As a result of a joint petition filed by the parties, the lawsuit was suspended until June 2023. The Management, based on its assessment and that of its external legal advisors, classifies the probability of loss in this case as possible. (vi) Indemnity Claim: Pinheiro District Property Indemnity claim filed by Construtora H. Lobo (under court-supervised reorganization), a Contractor that claimed it suffered damages and loss of profits due to an agreement to purchase from Braskem a property in the District of Pinheiro. Said agreement was terminated by Braskem due to lack of payment by the Contractor. Nevertheless, the Contractor claims that Braskem omitted information on the existence of structural problems in the deactivated salt mining wells located on said property. As of December 31, 2022, the amount of this action is R$306 million (2021: R$264 million). The lawsuit is ongoing, and Management, supported by the opinion of its external legal advisors, classifies the probability of loss in this case as possible. (vii) Indemnity Claim: State of Alagoas Indemnity claim filed by the State of Alagoas, requesting compensation for alleged damages resulting, among others claims, from the loss of properties within the risk area defined by the Civil Defense of Maceió, alleged investments initiated by the State of Alagoas and that would have become void unusable due to the evacuation of the risk area and alleged loss of tax revenue, with a request that such damages to be determined by a court appraiser. As injunction relief, the State of Alagoas requested the blocking of R$ 1.1 The Management, supported by the opinion of its external legal advisor, classifies the probability of loss in this lawsuit as possible. (viii) Other individual actions: Indemnifications related to the impacts of subsidence and relocation of areas affected On December 31, 2022, Braskem was defendant in several other actions, that, in aggregate, involve the amount of R$1 billion (2021: R$895 million), filed in Brazil and abroad, seeking the payment of indemnifications directly or indirectly related to the geological event in Maceió. The Management, supported by the opinion of its external legal advisor, classifies the probability of loss of the other individual lawsuits, in the total amount mentioned above, as possible. |
Benefits offered to employees
Benefits offered to employees | 12 Months Ended |
Dec. 31, 2022 | |
Benefits Offered To Employees | |
Benefits offered to employees | 27 Benefits offered to employees 27.1 Short-term benefits The obligations of short-term benefits for employees are recognized as personnel expenses as the corresponding service is rendered. The liability is recognized at the amount of the expected payment if the Company has a legal or constructive obligation to pay the amount due to services rendered by an employee in the past and the obligation can be reliably estimated. Schedule of short-term benefits 2022 2021 2020 Health care 243,620 235,681 197,683 Private pension 127,954 136,851 94,302 Transport 86,217 77,201 66,752 Feeding 62,786 51,240 38,400 Life insurance 10,400 10,324 9,875 Training 27,032 15,723 14,892 Other 16,027 12,546 14,117 574,036 539,566 436,021 27.2 Long-term incentive plan (“ILP Plan”) On March 21, 2018, the Extraordinary Shareholders Meeting approved the Long-Term Incentive Plan with the grant of Restricted Shares (“ILP Plan”) to align the interests of shareholders and executive officers (participants) and to promote their continued employment at the Company. The grant is subject to the voluntary investment of own financial resources by participants in the shares issued by the Company (tickers BRKM5 or BAK). To acquire the right, participants must maintain their employment relationship with the Company and hold uninterruptedly the shares acquired during the three-year vesting period. When the conditions to obtain the right are met, the Company transfers to participants the number of restricted shares to which they are entitled, which are held in treasury or acquired through repurchase program. If the transfer is not possible, the Company will pay to participants, in cash, the amount equivalent to the shares granted at the share price traded on stock exchange on the second business day immediately prior to the respective payment date. The fair value of shares on the grant date is recognized on a straight-line basis under personnel expenses during the vesting period, reflecting the expected number of shares that will meet the conditions to obtain the right, in such a way that the end amount recognized as an expense is based on the number of shares that effectively meet the conditions on the vesting date. The form of settlement of the ILP Plan determines the corresponding entry of expenses, which is recognized under equity for payment of shares and recognized under liabilities for cash payment, with the liability remeasured on each reporting date and on the settlement date, based on the American Depositary Receipt price. Any changes in the fair value of the liability are recognized as personnel expenses. The programs listed below were approved by the Board of Directors under the terms and conditions of the Long-Term Incentive Plan, which includes a list of eligible people, the period for acquisition of own shares by the participants and the number of restricted shares to be delivered to participants as consideration for each share acquired. Schedule of Long-term incentive plan Flat Grant Date End of Grace Period Settlement Method Granted quantities (-) Canceled (-) Qty. on 12/31/2021 (+) Granted (-) Canceled (-) Qty. on 12/31/2022 Fair value of the share* 2019 Plan 03/19/19 03/19/22 Shares 417,234 (71,905) - 345,329 - (18,802) (326,527) - 2019 Plan 03/19/19 03/19/22 Cash 82,128 (8,433) - 73,695 - (1,297) (72,398) - 2020 Plan 04/01/20 04/01/23 Shares 1,007,883 (72,743) (2,373) 932,767 - - - 932,767 R$ 16.27 2020 Plan 04/01/20 04/01/23 Cash 314,333 (47,943) - 266,390 - - - 266,390 USD 9.67 2021 Plan 05/10/21 05/10/24 Shares 557,888 (9,598) - 548,290 - - - 548,290 R$ 51.39 2021 Plan 05/10/21 05/10/24 Cash 144,779 - - 144,779 - - - 144,779 USD 9.67 2022 Plan 05/17/22 05/17/25 Shares - - - - 537,870 - - 537,870 R$ 44.15 2022 Plan 05/17/22 05/17/25 Cash - - - - 132,902 - - 132,902 USD 9.67 (*) Values in monetary units. On December 31, 2022, the amount recorded in equity is R$ 39,413 31,932 27.3 Post-employment benefits The obligations for contributions to defined contribution plans are recognized in profit or loss as personnel expenses when the related services are provided by employees. The contributions paid in advance are recognized as an asset to the extent that a cash reimbursement or a reduction in future payments is possible. The Company’s net obligation for defined benefit plans is calculated for each of the plans based on the estimated amount of future benefit that employees will receive in return for services rendered in the current and prior periods. Such amount is discounted to its present value and is reported net of the fair value of any of the plan’s assets. The calculation of the obligation of the defined benefit plan is made annually by a qualified accountant using the projected unit credit method. When calculations result in a potential asset for the Company, the asset to be recognized is limited to the present value of economic benefits available as future plan reimbursements or as a reduction in future contributions to the plan. To calculate the present value of economic benefits, any applicable minimum cost requirements are taken into account. Remeasurements of net obligation, which include: actuarial gains and losses, return on plan assets (excluding interest) and the effects of the asset cap (if any, excluding interest), are immediately recognized in other comprehensive income. Braskem and subsidiaries in Brazil Braskem and the subsidiaries in Brazil sponsor a defined contribution plan for its team members managed by Vexty, a private pension plan entity. Vexty offers its participants, which are employees of the sponsoring companies, an optional defined contribution plan in which monthly and additional participant contributions and monthly and annual sponsor contributions are made to individual pension savings accounts. For this plan, the sponsors pay contributions to private pension plan on contractual or voluntary bases. As soon as the contributions are paid, the sponsors do not have any further obligations related to additional payments. As of December 31, 2022, the number of active participants in Vexty sums 6,391 (2021: 6,113) and the contributions made by the sponsors in the year amount to R$ 92,208 68,744 77,263 83,599 According to Brazilian laws, the type of health plan offered by Braskem, named contributory plan, ensures to the participant who retires or is dismissed without cause the right to remain in the plan with the same assistance coverage conditions they had during the employment term, provided they assume the full payment of the plan (Company’s part + participant’s part). Braskem America Braskem America administers the Novamont, which is a closed defined benefit pension plan for the employees of a plant located in the State of West Virginia. On December 31, 2022, there were 36 active participants, 32 employees with deferred benefits along and 101 assisted participants (2021: 36 active participants, 141 employees with deferred benefits and 173 assisted participants). During 2022, the number of participants in the pension plan decreased, and 173 participants received a fixed payment or opted for insurance annuity. Due to the current funding levels of the pension plan, the subsidiary was not required to contribute to the plan during the 2022 plan year and, therefore, there were no additional cash contributions made by the subsidiary or the participants in 2022 and 2021. Braskem Alemanha (“Germany”) Braskem Alemanha is the sponsor of the defined benefit plans and defined contribution plans of its employees. As of December 31, 2022, the plans have 172 participants (2021: 158) and no contributions were made by the subsidiary or the participants in 2022 and 2021. Braskem Holanda (“Netherlands”) The subsidiary Braskem Holanda is the sponsor of the defined contribution plans of its employees. As of December 31, 2022, the plans have 12 participants (9 participants in 2021) and no contributions were made by the subsidiary or the participants in 2021 and 2020. Braskem Idesa Braskem Idesa is the sponsor of defined benefit plans for its team members. As of December 31, 2022, the plan was composed of 965 active participants (2021: 936 active participants). The contributions the subsidiary made in the year amounted to R$4,370 (2021: R$3,810). During 2022 and 2021, there were no contributions from participants. (a) Amounts in statement of financial position Schedule of defined benefit obligations 2022 2021 Defined benefit Novamont Braskem America 58,221 117,509 Braskem Idesa 23,053 22,960 Braskem Alemanha and Netherlands 147,562 223,193 228,836 363,662 Health care Bradesco saúde 321,520 243,706 Total obligations 550,356 607,368 Fair value of plan assets Novamont Braskem America (54,665) (117,509) Braskem Alemanha (1,948) (2,162) (56,613) (119,671) Consolidated net balance (non-current liabilities) 493,743 487,697 Change in obligations Change in obligations 2022 2021 2020 Health Benefit Health Benefit Health Benefit insurance plans Total insurance plans Total insurance plans Total Balance at beginning of year 243,706 363,662 607,368 217,089 370,860 587,949 224,852 245,565 470,417 Current service cost 4,928 12,732 17,660 4,817 13,681 18,498 4,678 12,486 17,164 Interest cost 20,200 6,914 27,114 15,692 5,906 21,598 17,097 6,482 23,579 Benefits paid (12,639) (34,208) (46,847) (10,712) (7,191) (17,903) (5,949) (7,409) (13,358) Actuarial losses (gain) 65,325 (83,485) (18,160) 16,820 (26,668) (9,848) (23,589) 25,803 2,214 Exchange variation (36,779) (36,779) 7,074 7,074 - 87,933 87,933 Balance at the end of the year 321,520 228,836 550,356 243,706 363,662 607,368 217,089 370,860 587,949 (b) Change in fair value plan assets Change in fair value plan assets 2022 2021 2020 Balance at beginning of year 119,671 115,875 81,342 Actual return on plan assets (25,929) 722 15,791 Benefits paid (32,264) (5,301) (4,973) Exchange variation (4,866) 8,375 23,715 Balance at the end of the year 56,613 119,671 115,875 On December 31, 2022, the balance of the fair value of assets is represented by the assets of the Novamont defined benefit plan, which has a level-1 fair value hierarchy. Amounts recognized in profit and loss Amounts recognized in profit and loss 2022 2021 2020 Health Benefit Health Benefit Health Benefit insurance plans Total insurance plans Total insurance plans Total - Current service cost 4,928 12,732 17,660 4,817 13,681 18,498 4,678 12,486 17,164 Interest cost 20,200 6,914 27,114 15,692 5,906 21,598 17,097 6,482 23,579 Actuarial (losses) gains (83,485) (83,485) (24,203) (24,203) - 15,461 15,461 25,128 (63,839) (38,711) 20,509 (4,616) 15,893 21,775 34,429 56,204 (c) Actuarial assumptions Schedule of Actuarial assumptions (%) 2022 2021 2020 Health United Health United Health United insurance States Mexico Germany Netherlands insurance States Mexico Germany Netherlands insurance States Mexico Germany Netherlands Discount rate 5.97 5.10 8.00 1.20 3.60 5.33 2.90 8.00 1.20 1.20 3.99 2.60 7.25 0.70 0.70 Inflation rate 3.00 n/a 4.00 2.00 2.00 3.00 n/a 4.00 2.00 2.00 3.25 n/a 4.00 2.00 2.00 Expected return on plan assets n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Rate of increase in future salary levels n/a n/a 5.00 3.00 3.25 n/a n/a 5.00 3.00 3.00 n/a n/a 5.00 3.00 3.00 Rate of increase in future pension plan n/a n/a n/a 1.75 2.25 n/a n/a n/a 1.75 1.75 n/a n/a n/a 1.75 1.75 Aging factor 2.50 n/a n/a n/a n/a 2.50 n/a n/a n/a n/a 2.50 n/a n/a n/a n/a Medical inflation 3.50 n/a n/a n/a n/a 3.50 n/a n/a n/a n/a 3.50 n/a n/a n/a n/a Duration 12.83 n/a n/a n/a n/a 14.16 n/a n/a n/a n/a 14.99 n/a n/a n/a n/a Sensitivity analysis Sensitivity analysis Impact on the defined benefit obligation Premise change Premise increase Premise reduction Health United Health United Health United insurance States Mexico Germany Netherlands insurance States Mexico Germany Netherlands insurance States Mexico Germany Netherlands Discount rate 1.0 1.0 1.0 0.25 0.25 32,758 5,536 1,646 5,477 297 (39,621) (6,605) (1,935) (5,836) (315) Real medical inflation n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Rate of increase in future salary levels n/a n/a n/a 0.5 0.5 n/a n/a n/a 8,604 468 n/a n/a n/a (8,114) (442) Rate of increase in future pension plan 1.0 n/a n/a 0.25 0.25 (7,740) n/a n/a 4,241 231 8,098 n/a n/a (4,115) (224) Life expectancy 1.0 n/a n/a 1 1 48,527 n/a n/a 3,637 198 (39,355) n/a n/a (3,797) (207) Mortality rate n/a 10.0 n/a n/a n/a n/a 1,681 n/a n/a n/a n/a (1,839) n/a n/a n/a Health insurance - Impact on cost of services and interests costs Premise change Premise increase Premise reduction Cost of Iterests Cost of Iterests Cost of Iterests services costs services costs services costs Discount rate 1.0 1.0 730 106 (933) 11 Life expectancy 1.0 1.0 542 4,441 (464) (3,602) Rate of increase in future pension plan 1.0 1.0 123 708 (129) (741) |
Equity
Equity | 12 Months Ended |
Dec. 31, 2022 | |
Shareholders' equity | |
Equity | 28 Equity 28.1 Capital On December 31, 2022 and 2021, the Company's subscribed and paid-up capital stock amounted to R$8,043,222 and comprised 797,207,834 shares with no par value, distributed as follows: Schedule of shares distributed Amount of shares Common Preferred shares Preferred shares shares % class A % class B % Total % Novonor 226,334,623 50.11 79,182,498 22.95 - - 305,517,121 38.32 Petrobras 212,426,952 47.03 75,761,739 21.96 - - 288,188,691 36.15 ADR (i) - - 42,869,320 12.42 - - 42,869,320 5.38 Other 12,907,077 2.86 146,581,427 42.48 478,790 100.00 159,967,294 20.07 Total 451,668,652 100.00 344,394,984 99.81 478,790 100.00 796,542,426 99.92 Treasury shares - - 665,408 0.19 - - 665,408 0.08 Total 451,668,652 100.00 345,060,392 100.00 478,790 100.00 797,207,834 100.00 Authorised 535,661,731 616,682,421 593,818 1,152,937,970 (i) American Depository Receipt Changes in shares during the year: Schedule of Changes in shares during the year Amount of shares Note 2020 Changes 2021 Changes 2022 Outstanding shares Commom shares 451,668,652 - 451,668,652 - 451,668,652 Preferred Class A 28.4 343,824,794 333,432 344,158,226 236,758 344,394,984 Preferred Class B 500,230 (21,440) 478,790 - 478,790 795,993,676 311,992 796,305,668 236,758 796,542,426 Treasury shares Preferred Class A 28.4 1,224,878 (322,712) 902,166 (236,758) 665,408 Total 797,218,554 (10,720) 797,207,834 - 797,207,834 28.2 Capital reserves This reserve includes part of the shares issued in the Company’s several capital increases. This reserve can be used to absorb losses, to redeem, reimburse or purchase shares, and to incorporate into the capital stock. 28.3 Profit reserves (a) Legal reserve Under Brazilian Corporation Law, companies must transfer 5% of net profit for the year to a legal reserve until this reserve is equivalent to 20% of the paid-up capital. The legal reserve can be used for capital increase or absorption of losses. (b) Tax incentive reserve This reserve results from the allocation of part of net income for the year equivalent to tax incentives, arising from governmental subsidies (see Note 31). This reserve may only be used to offset losses with subsequent reconstitution or increase share capital. (c) Profit retention Under Brazilian Corporation Law, portions of net income for the fiscal year may be allocated to reserves or retained based on the capital budget. Profits not allocated as such may be distributed to shareholders in the form of dividends. In 2022, this reserve was partially used to absorb losses for the year (Note 28.6). 28.4 Share rights Preferred shares carry no voting rights, but they ensure priority, non-cumulative annual dividend of 6% of their unit value, according to profits available for distribution. The unit value of the shares is obtained through the division of capital by the total number of outstanding shares. As common shares, only class “A” preferred shares will have the same claim on the remaining profit that exceeds the minimum mandatory dividend of 6% and will be entitled to dividends only after the priority dividend is paid to preferred shareholders. Only class “A” preferred shares also have the same claim as common shares on the distribution of shares resulting from capitalization of other reserves. Class “A” preferred shares can be converted into common shares upon resolution of majority voting shareholders present at a General Meeting. Class “B” preferred shares can be converted into class “A” preferred shares at any time, at the ratio of two class “B” preferred shares for one class “A” preferred share, upon a simple written request to the Company, provided that the non-transferability period provided for in specific legislation that allowed for the issue and payment of such shares with tax incentive funds has elapsed. In 2022, 236,758 shares held in treasury were delivered to participants of the LTI Program 2019, which was fully settled in April 2022. In 2021, 322,712 28.5 Payment of dividends On April 19, 2022, the Annual and Extraordinary Shareholders Meeting approved distribution of the proposed additional dividends on the 2021 results, corresponding to R$1.696348838321 per outstanding common share and class “A” preferred share, in the amount of R$1.35 billion, payment of which was made as from May 2, 2022. 28.6 Accumulated losses Accumulated losses in 2022 were absorbed as follows: Schedule of Accumulated losses 2022 Loss for the year of the Company's shareholders (335,677) Amounts posted directly to the Retained Earnings account: SUDENE tax incentive supplement (108,975) Comprehensive income 26,883 Other 475 (417,294) Loss absorption using profit reserve: Profit reserves - Retention of profits 417,294 417,294 |
Earnings (loss) per share
Earnings (loss) per share | 12 Months Ended |
Dec. 31, 2022 | |
Earnings Loss Per Share | |
Earnings (loss) per share | 29 Earnings (loss) per share Basic earnings (loss) per share is calculated by means of the division of profit (loss) for the year attributable to the Company’s common and preferred shareholders by the weighted average number of these shares held by shareholders, excluding those held in treasury and following the rules for the distribution of dividends provided for in the Company’s bylaws, as described in Note 28.4, particularly in relation to the limited rights enjoyed by class “B” preferred shares. The calculation of the diluted earnings (loss) per share is based on the weighted average of class “A” preferred shares, assuming the conversion of all preferred shares into treasury that would cause the dilution. Class A preferred shares participate in dividends with common shares after the mandatory dividends has been attributed in accordance with the formula provided for in the Company’s bylaws, as described in Note 28.4 and there is no highest limit for their participation. The table below shows the reconciliation of profit or loss for the period adjusted for the amounts used to calculate basic and diluted earnings (losses) per share. Schedule of reconciliation of profit or loss 2022 2021 2020 Basic Diluted Basic Diluted Basic Diluted (Loss) profit for the year attributed to Company's shareholders (335,677) (335,677) 13,984,946 13,984,946 (6,691,720) (6,691,720) Distribution of priority dividends attributable to: Preferred shares class "A" - - 208,574 208,574 - - Preferred shares class "B" - - 290 290 - - - - 208,864 208,864 - - Distribution of 6% of unit price of common shares - - 273,729 273,729 - - Distribution of excess profits, by class: Common shares - - 7,664,208 7,664,208 - - Preferred shares class "A" - - 5,838,145 5,838,145 - - - - 13,502,353 13,502,353 - - Reconciliation of income available for distribution, Common shares (190,357) (190,357) 7,937,937 7,937,937 (3,797,070) (3,797,071) Preferred shares class "A" (145,118) (145,118) 6,046,719 6,046,719 (2,890,445) (2,890,444) Preferred shares class "B" (202) (202) 290 290 (4,205) (4,205) (335,677) (335,677) 13,984,946 13,984,946 (6,691,720) (6,691,720) Weighted average number of shares, Common shares 451,668,652 451,668,652 451,668,652 451,668,652 451,668,652 451,668,652 Preferred shares class "A" 344,329,470 344,329,470 344,054,700 345,049,701 343,823,811 345,049,672 Preferred shares class "B" 478,790 478,790 500,171 500,171 500,230 500,230 796,476,912 796,476,912 796,223,523 797,218,524 795,992,693 797,218,554 Profit (loss) per share (in R$) Common shares (0.42) (0.42) 17.57 17.57 (8.41) (8.41) Preferred shares class "A" (0.42) (0.42) 17.57 17.52 (8.41) (8.38) Preferred shares class "B" (0.42) (0.42) 0.58 0.58 (8.41) (8.41) Weighing of shares 2022 Basic Preferred shares Class "A" Outstanding Weighted shares average Amount at beginning of the year 344,158,226 344,158,226 Incentive long term plan payments with treasury shares 236,758 171,244 Amount at the end of the year 344,394,984 344,329,470 2021 Basic Preferred shares Class "A" Class "B" Outstanding Weighted Outstanding Weighted shares average shares average Amount at beginning of the year 343,824,794 343,824,794 500,230 500,230 Incentive long term plan payments with treasury shares 322,712 229,877 - - Conversion shares class "B" into shares class "A" 10,720 29 (21,440) (59) Amount at the end of the year 344,158,226 344,054,700 478,790 500,171 2020 Basic Preferred shares Class "A" Outstanding Weighted shares average Amount at beginning of year 343,823,073 343,823,073 Incentive long term plan payments with treasury shares 1,721 738 Amount at the end of the year 343,824,794 343,823,811 |
Net revenue
Net revenue | 12 Months Ended |
Dec. 31, 2022 | |
Net Revenue | |
Net revenue | 30 Net revenue Schedule of sales and service revenue 2022 2021 2020 96,519,284 105,625,201 58,543,494 Revenue from sales of products is recognized when the control of assets is transferred to the customer for an amount that reflects the consideration to which the Company expects to be entitled in exchange of these assets. The performance obligations are met at a specific moment in time. The Company does not make sales with continued management involvement. Most of the Company’s sales are made to industrial customers and, in a lower volume, to resellers. (i) The specific moment when the Company satisfies a performance obligation by transferring a promised good or service to the client is determined as follows: for contracts under which the Company is responsible for the freight and insurance, the legal right and the risks and benefits are transferred to the client when the risk of the goods is delivered at the destination established in the contract; (i) (ii) for agreements under which the freight and insurance are a responsibility of the client, risks and benefits are transferred when the products are delivered to the client’s carrier; and for contracts under which product delivery involves the use of pipelines, especially basic petrochemicals, the risks and benefits are transferred immediately after the Company’s official markers, which is the point of delivery of the products and transfer of their ownership. (a) Net revenue by country Schedule of revenue by country 2022 2021 2020 Brazil 56,217,472 55,830,330 32,369,199 United States 18,085,607 24,232,413 10,848,609 Mexico 4,468,827 5,505,893 2,765,815 Argentina 2,092,700 2,068,023 1,267,967 Germany 1,695,009 1,912,373 1,106,877 Switzerland 1,492,922 1,230,541 633,512 Italy 1,095,133 1,304,113 811,787 Chile 870,858 1,230,493 544,329 Netherlands 816,678 642,844 432,897 Luxembourg 756,297 987,656 592,777 Singapore 755,971 1,175,133 1,183,838 Peru 740,011 666,867 471,847 Japan 723,757 1,162,226 618,940 Spain 546,646 517,532 282,362 United Kingdom 490,801 585,766 204,953 Uruguay 469,555 495,120 405,946 Poland 455,458 649,825 285,714 Bolivia 427,237 296,138 190,447 Sweden 401,251 481,289 310,984 Canada 393,504 558,730 297,756 France 359,946 326,570 247,062 Paraguay 316,460 318,842 254,255 Colombia 263,695 274,335 174,381 China 172,656 354,071 496,920 South Korea 159,944 669,055 360,704 Other 2,250,890 2,149,023 1,383,616 96,519,284 105,625,201 58,543,494 (b) Net revenue by product Schedule of revenue by product 2022 2021 2020 PE/PP 61,145,093 73,306,089 41,137,288 Benzene, toluene and xylene 7,279,584 5,819,696 3,051,752 Ethylene, Propylene 5,819,345 6,872,999 3,600,276 ETBE/Gasoline 5,722,767 4,321,371 2,170,289 PVC/Caustic Soda/EDC 5,710,838 5,806,011 3,134,617 Butadiene 3,028,048 3,019,836 1,372,428 Solvents 1,522,025 1,129,484 654,793 Cumene 1,425,097 1,342,811 636,635 Naphtha, condensate and crude oil 422,359 1,648,581 915,807 Other 4,444,130 2,358,324 1,869,609 96,519,284 105,625,201 58,543,494 (c) Main clients The Company does not have any revenue arising from transactions with only one client that is equal to or higher than 10 2.4 |
Tax incentives
Tax incentives | 12 Months Ended |
Dec. 31, 2022 | |
Tax Incentives | |
Tax incentives | 31 Tax incentives (a) SUDENE–- IR Since 2015, the Company obtained grant in lawsuits claiming the reduction of 75 Cloro Soda 10 In 2022, the Company recorded a tax loss and, for such reason, did not make use of tax benefits. (b) PRODESIN–- ICMS The Company has ICMS tax incentives granted by the state of Alagoas, through the state of Alagoas Integrated Development Program (“PRODESIN”), which are aimed at implementing and expanding a plant in that state. The Company obtained a final and unappealable decision (Case No. 0042875-86.2015.4.01.3300) that exempted it from the payment of IR/CSL on tax incentives granted under PRODESIN, ensuring their treatment as a reducer of taxes on sales, in the period between the calendar years 2010 to 2017, in the accumulated amount of R$ 425,913 87,415 176,284 |
Expenses by nature and function
Expenses by nature and function | 12 Months Ended |
Dec. 31, 2022 | |
Expenses By Nature And Function | |
Expenses by nature and function | 32 Expenses by nature and function Schedule of Expenses by nature and function 2022 2021 2020 Classification by nature: Raw materials other inputs (73,181,706) (63,570,499) (37,913,921) Personnel expenses (3,223,477) (3,478,323) (3,074,305) Outsourced services (3,411,818) (3,193,970) (2,219,413) Depreciation and amortization (4,733,165) (4,178,433) (4,048,081) Freights (4,034,901) (2,966,229) (2,321,740) Idle industrial plants (414,441) (338,987) (518,528) Provision - geological event in Alagoas (Note 26) (1,520,019) (1,339,765) (6,901,828) PIS and Cofins credits - exclusion of ICMS from the calculation basis 1,031,099 310,557 Other income 507,333 1,843,153 440,192 Other general and administrative expenses (2,269,865) (3,394,344) (2,348,921) Total (92,282,059) (79,586,298) (58,595,988) Classification by function: Cost of products sold (85,160,548) (73,568,231) (47,331,414) Selling and distribution (2,108,417) (2,055,640) (1,852,055) (Loss) reversals for impairment of trade accounts receivable (38,426) (8,914) (55,252) General and administrative (2,763,983) (2,522,127) (1,918,747) Research and development (374,493) (296,583) (250,648) Other income (i) 507,333 1,534,487 750,749 Other expenses (ii) (2,343,525) (2,669,290) (7,938,621) Total (92,282,059) (79,586,298) (58,595,988) (i) In 2021 and 2020, refers mainly to the final and unappealable decision of lawsuits claiming the exclusion of ICMS from PIS/COFINS calculation base totaling R$1,031,099 and R$310,557, respectively. In 2022, lawsuits with favorable decisions for Braskem claiming the recovery of taxes in the amount of R$123,202, and financial penalty on the feedstock supply agreement in the amount of R$119,576. (ii) Mainly refers to provisions for Alagoas in the amount of R$1,520,019 (2021: R$1,339,765 and 2020: R$6,901,828), provisions for reparation of environmental damages in the amount of R$238,700 (2021: R$588,110 and 2020: R$306,275) and financial penalties on sale agreements in the amount of R$22,453 (2021: R$344,902 and 2020: R$4,008). |
Financial results
Financial results | 12 Months Ended |
Dec. 31, 2022 | |
Financial Results | |
Financial results | 33 Financial results Transactions in foreign currencies are translated into the respective functional currency of the Company’s subsidiaries at the exchange rates in effect on the transaction dates. Monetary assets and liabilities denominated and measured in foreign currency on the reporting date are re-translated into the functional currency at the exchange rate on said date. Non-monetary assets and liabilities measured at fair value in foreign currency are re-translated into the functional currency at the exchange rate on the date on which the fair value was determined. Non-monetary items that are measured based on the historical cost in foreign currencies are translated at the exchange rate on the date of the transaction. The differences in foreign currencies resulting from conversion are recognized in financial income or loss, unless the liability involves a cash flow hedge accounting relationship. Schedule of results by segment 2022 2021 2020 Financial income Interest income 1,049,745 439,891 310,202 Inflation indexation income on tax assets (i) 16,489 1,041,917 170,857 Gain on derivatives 635,779 246,459 - Other 308,121 99,171 119,125 2,010,134 1,827,438 600,184 Financial expenses Interest expenses (3,125,206) (2,922,958) (2,928,803) Inflation indexation expenses on tax liabilities (266,281) (93,722) (138,410) Discounts granted (129,249) (75,677) (81,920) Loans transaction costs - amortization (260,511) (691,243) (172,269) Adjustment to present value - appropriation (580,994) (179,461) (225,889) Interest expense on leases (203,257) (173,536) (164,166) Losses on derivatives (596,501) (1,003,502) (809,150) Other (500,694) (767,056) (392,758) (5,662,693) (5,907,155) (4,913,365) Exchange rate variations, net On financial assets (522,251) 230,370 336,527 On financial liabilities (49,919) (4,233,177) (5,635,238) (572,170) (4,002,807) (5,298,711) Total (4,224,729) (8,082,524) (9,611,892) (i) In 2021, R$990,877 refers to the inflation adjustment of lawsuits with final and unappealable decisions related to ICMS exclusion from PIS/COFINS calculation basis (Note 10.b). The effects from exchange variation on the Company’s transactions are mainly due to the variations in the following currencies: Schedule of effects from exchange variation on the Companyàtransactions are mainly due to the variations End of year rate Average rate Variation 2022 2021 Variation 2022 2021 Dec/20 2022-2021 2021-2020 U.S. dollar - Brazilian real 5.2177 5.5805 -6.50 5.1655 5.3956 5.1578 -4.26 4.61 Euro - Brazilian real 5.5694 6.3210 -11.89 5.4420 6.3784 5.8989 -14.68 8.13 Mexican peso - Brazilian real 0.2667 0.2730 -2.31 0.2569 0.2660 0.2402 -3.44 10.75 U.S. dollar - Mexican peso 19.5720 20.4519 -4.30 20.1249 20.2900 21.5098 -0.81 -5.67 U.S. dollar - Euro 0.9416 0.8853 6.36 0.9510 0.8458 0.8775 12.44 -3.61 |
Segment information
Segment information | 12 Months Ended |
Dec. 31, 2022 | |
Segment Information | |
Segment information | 34 Segment information The Company’s organizational structure is formed by the following segments: - Brazil: - United States and Europe: - Mexico: - Other segments: (a) Presentation, measurement and reconciliation of segment results Information by segment is generated in accounting records, which are reflected in the consolidated financial statements. The operating segments are stated based on the results of operations. The eliminations and reclassifications line are mainly represented by purchases and sales between the Company’s reportable segments. Corporate Unit comprises items not allocated directly to the reportable segments and are disclosed to reconcile the segments to the consolidated financial information. (b) Results by segment Schedule of Results by segment 2022 Operating expenses Cost of Selling, general Results from Other operating Profit (loss) Net products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 69,079,724 (63,195,629) 5,884,095 (1,853,039) - (1,888,999) 2,142,057 USA and Europe 23,421,096 (19,986,176) 3,434,920 (838,474) - 56,944 2,653,390 Mexico 5,834,017 (5,069,531) 764,486 (451,605) - (33,370) 279,511 Total 98,334,837 (88,251,336) 10,083,501 (3,143,118) - (1,865,425) 5,074,958 Other segments 402,991 (262,402) 140,589 82,498 34,848 5,644 263,579 Corporate unit - - - (2,196,506) - 19,375 (2,177,131) Braskem consolidated before 98,737,828 (88,513,738) 10,224,090 (5,257,126) 34,848 (1,840,406) 3,161,406 Eliminations and reclassifications (2,218,544) 3,353,190 1,134,646 (28,193) - 4,214 1,110,667 Total 96,519,284 (85,160,548) 11,358,736 (5,285,319) 34,848 (1,836,192) 4,272,073 2021 Operating expenses Cost of Selling, general Results from Other operating Profit (loss) Net products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 69,494,923 (49,309,552) 20,185,371 (1,608,185) - (2,210,601) 16,366,585 USA and Europe 32,403,632 (23,343,205) 9,060,427 (900,885) - (25,580) 8,133,962 Mexico 6,506,297 (3,413,652) 3,092,645 (471,821) - (15,302) 2,605,522 Total 108,404,852 (76,066,409) 32,338,443 (2,980,891) - (2,251,483) 27,106,069 Other segments 363,684 (233,084) 130,600 76,830 4,644 (28,674) 183,400 Corporate unit - - - (1,963,137) - 1,161,517 (i) (801,620) Braskem consolidated before 108,768,536 (76,299,493) 32,469,043 (4,867,198) 4,644 (1,118,640) 26,487,849 Eliminations and reclassifications (3,143,335) 2,731,262 (412,073) (16,066) - (16,163) (444,302) Total 105,625,201 (73,568,231) 32,056,970 (4,883,264) 4,644 (1,134,803) 26,043,547 2020 Operating expenses Cost of Selling, general Results from Other operating Profit (loss) Net products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 40,794,387 (32,498,003) 8,296,384 (1,471,722) - (7,082,604) (257,942) USA and Europe 14,638,660 (12,337,486) 2,301,174 (721,191) - (82,695) 1,497,288 Mexico 4,000,805 (3,075,001) 925,804 (436,859) - (364,259) 124,686 Total 59,433,852 (47,910,490) 11,523,362 (2,629,772) - (7,529,558) 1,364,032 Other segments 302,374 (188,350) 114,024 63,874 (19,398) (320) 158,180 Corporate unit - - - (1,493,479) - 359,071 (1,134,408) Braskem consolidated before 59,736,226 (48,098,840) 11,637,386 (4,059,377) (19,398) (7,170,807) 387,804 Eliminations and reclassifications (1,192,732) 767,426 (425,306) (17,325) - (17,065) (459,696) Total 58,543,494 (47,331,414) 11,212,080 (4,076,702) (19,398) (7,187,872) (71,892) See comment in Note 32(i). (b) Property, plant and equipment and intangible assets by segment Schedule of property, plant and equipment and intangible assets by segment 2022 2021 Reporting segments Brazil 19,428,926 18,072,312 USA and Europe 7,075,743 7,688,713 Mexico 13,736,298 14,019,167 Total 40,240,967 39,780,192 Unallocated amounts 544,472 322,237 Total 40,785,439 40,102,429 |
Contractual obligations
Contractual obligations | 12 Months Ended |
Dec. 31, 2022 | |
Contractual Obligations | |
Contractual obligations | 35 Contractual obligations The Company has long-term contractual obligations arising from agreements entered into for the purchase of power inputs. As of December 31, 2022, these obligations amounted to R$ 8,286,502 6,079,568 |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Events | |
Subsequent events | 36 Subsequent events (a) In February 2023, the subsidiary Braskem Holanda Finance issued US$ 1 7.25 (b) In February 2023, Braskem completed the process for acquiring shares and subscribing to new shares issued by Wise Plásticos S.A. (“Wise”), a Brazilian company engaged in mechanical recycling, now holding a 61.1 138 (c) In March 2023, according to the Note 26.1 (iv), Alagoas State Public Defender’s Office (“DPE”) filed a Public-interest civil action (“ACP”) against the Company, the Federal Government, the State of Alagoas and the Municipality of Maceió seeking, among other claims, the revision of terms of the Flexais Agreement, signed amongst Braskem, the MPF, the MPE, the DPU, and Municipality of Maceió, ratified on October 26, 2022, by the 3rd Federal Court of Alagoas. DPE attributes to the lawsuit the amount of R$ 1.7 billion, with a request of injunction relief so that the Municipality of Maceió and Braskem initiated the registration of all residents who requested to be relocated and their concomitant inclusion in the Financial Compensation and Support for Relocation Program (“PCF”), or, on a subsidiary basis, the freeze of bank accounts in the same amount of the lawsuit. The injunction relief requests were rejected by court; decision subjected to appeal by DPE. Braskem has already presented contestation. (d) In March 2023, according to the Note 26.1 (vii), the State of Alagoas filed a lawsuit, requesting compensation for alleged damages caused to the State. In addition, as an injunction relief, the State of Alagoas requested the blocking of R$ 1.1 billion from Braskem bank accounts, as a guarantee to repair material and non-material damages allegedly suffered by the State Public Administration. On April 19, 2023, this injunction relief request was accepted by the court; that determined the cautionary blocking of approximately R$ 1.1 billion from Company bank accounts. Upon presentation of a performance bond by the Company, on April 23, 2023, the Appellate Court suspended the effectiveness of the decision to block Braskem bank accounts, as previously issued by the Lower Court. |
Basis of preparation of the f_2
Basis of preparation of the financial statements (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Basis Of Preparation Of Financial Statements | |
Basis of accounting | 2.1 Basis of accounting The consolidated financial statements were prepared and presented in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). |
Basis of presentation | 2.2 Basis of presentation The Company’s consolidated financial statements (“financial statements”) were prepared under the historical cost basis, unless stated otherwise in the accounting policies. These consolidated financial statements have been prepared on a going concern basis. The significant accounting policies applied in the preparation of these consolidated financial statements were included in the respective notes and are consistent in the fiscal years presented. The issue of these consolidated financial statements was authorized by the Executive Board on April 24, 2023. |
Basis of consolidation | 2.3 Basis of consolidation The consolidated financial statements include the financial statements of Braskem S.A. and the following entities: Schedule of consolidated financial statements Total and voting interest (%) 2022, 2021 and 2020 Headquarter 2022 2021 2020 BM Insurance Company Limited ("BM Insurance") Bermuda 100 100 100 Braskem Argentina S.A. (“Braskem Argentina”) Argentina 100 100 100 Braskem Energy Ltda. (i) Brazil 100 Braskem Finance Limited (“Braskem Finance”) Cayman Islands 100 100 100 Braskem Green S.A. Brazil 100 100 Braskem Incorporated Limited ("Braskem Inc.") Cayman Islands 100 100 100 Braskem Mexico, S. de RL de C.V. ("Braskem México") Mexico 100 100 100 Braskem Netherlands B.V. ("Braskem Holanda") Netherlands 100 100 100 Braskem Petroquímica Chile Ltda. (“Braskem Chile”) Chile 100 100 100 Braskem Ventures Ltda. ("Braskem Ventures") (ii) Brazil 100 Lantana Trading Co. Inc. (“Lantana”) (iii) Bahamas 100 100 Voqen Energia Ltda. ("Voqen") (i) Brazil 100 - Braskem America Finance Company ("Braskem America Finance") USA 100 100 100 Braskem America, Inc. (“Braskem America”) USA 100 100 100 Braskem Europe GmbH ("Braskem Alemanha") Germany 100 100 100 Braskem Idesa S.A.P.I. ("Braskem Idesa") Mexico 75 75 75 Braskem Idesa Servicios S.A. de C.V. ("Braskem Idesa Serviços") Mexico 75 75 75 Braskem India Private Limited ("Braskem India") India 100 100 100 Braskem Mexico Proyectos S.A. de C.V. SOFOM ("Braskem México Sofom") Mexico 100 100 100 Braskem Mexico Servicios S. RL de C.V. ("Braskem México Serviços") Mexico 100 100 100 Braskem Netherlands Finance B.V. (“Braskem Holanda Finance”) Netherlands 100 100 100 Braskem Netherlands Green B.V. (“Braskem Holanda Green”) Netherlands 100 100 Braskem Netherlands Inc. B.V. (“Braskem Holanda Inc.”) Netherlands 100 100 100 Builder Brasil Ltda. ("Builder Brasil") (ii) Brazil 100 Builder USA LLC. ("Builder USA") (ii) USA 100 Cetrel S.A. ("Cetrel") Brazil 63.70 63.70 63.70 Distribuidora de Água Camaçari S.A. ("DAC") Brazil 63.70 63.70 63.70 B&TC B.V. ("B&TC") (iv) Netherlands 60 ER Plastics B.V. ("ER Plastics") (iv) Netherlands 60 Terminal Química Puerto México ("Terminal Química") Mexico 75 75 Special Purpose Entities Fundo de Investimento Caixa Júpiter Multimercado Crédito Privado Brazil 100 100 100 Fundo de Investimento Santander Netuno Multimercado Crédito Privado Longo Prazo ("FIM Netuno") Brazil 100 100 100 (i) Voqen was incorporated in 2022 and began its operations in September 2022. Its main activities include power and natural gas trading and services rendered, as well as representation in the Free Energy Contracting Environment. In July 2022, Braskem Energy Ltda., which was 100% held by Braskem, was merged into Voqen at book value. (ii) Braskem Ventures, Builder Brasil and Builder USA: entities incorporated between May 2022 and June 2022 and are part of the Oxygea group, whose purpose is to foster the creation and development of new business initiatives. (iii) Lantana was a non-operational entity that had the operations closed in November 2022. (iv) B&TC and ER Plastics: In August 2022, Braskem Holanda acquired 60% interest in B&TC, which holds 100% of the shares of ER Plastics, which undertakes mechanical recycling of mixed plastic waste into compression molded products (boards for use in construction and pallets). (a) Subsidiaries The Company controls an entity when it is exposed to, or entitled to, the variable returns originating from its involvement with the entity and has the capacity to affect such returns by exercising its power over the entity. The financial statements of subsidiaries are included in these consolidated financial statements as from the date the Company obtains control until the date of the loss of control. (b) Equity method Investees The Company’s investments in entities with accounting treatment using the equity method consist of their interests in associates and joint ventures. Associates are those in which the Company, directly or indirectly, has significant influence, but not control or shared control, over the financial and operating policies. To be classified as a joint venture, a contractual agreement must exist that gives the Company shared control of the entity and granting to the Company the right to the net assets of the joint venture, and not the right to its specific assets and liabilities. Such investments are initially recognized at cost, which includes the expenses with the transaction costs. After initial recognition, the consolidated financial statements include the Company’s interest in the net profit or loss for the fiscal year profit or loss and other comprehensive income of equity-accounted investees, in the investee until the date on which the significant influence or joint control ceases to exist. (c) Conversion of functional currency to presentation currency The assets and liabilities of foreign operations are translated into Reais at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into Reais at the exchange rates at the dates of the transactions. Foreign currency differences (Note 2.4) from translation to presentation currency are recognized in other comprehensive income. Since Argentina’s economy is considered hyperinflationary, to translate the financial information of the subsidiary Braskem Argentina, the assets, liabilities, equity, income and expenses are translated into Reais at the exchange rate at the reporting date. (d) Transactions eliminated in consolidation Intragroup balances and transactions and any unrealized revenues or expenses arising from intragroup transactions are eliminated. Unrealized gains originating from transactions with investees recorded using the equity method are eliminated against the investment proportionately to the Company’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment loss. |
Functional and foreign currency | 2.4 Functional and foreign currency These consolidated financial statements are presented in Brazilian Real, which is the functional currency of the Company. All amounts have been rounded to the nearest thousand, unless otherwise stated. The subsidiaries with a functional currency different from Brazilian Real (R$) are listed below: Schedule of subsidiaries with a functional currency Subsidiaries Functional currency Braskem Alemanha, B&TC and ER Plastics Euro BM Insurance, Braskem America, Braskem America Finance, Braskem Holanda, Braskem Holanda Finance, Braskem Holanda Inc., Braskem México Proyectos, Braskem Holanda Green, Terminal Química and Builder USA. U.S.dollar ("US$") Braskem Idesa, Braskem Idesa Serviços, Braskem México and Braskem México Serviços Mexican peso Braskem Argentina Argentinean peso Braskem Chile Chilenean peso Braskem Índia Rupee |
New standards or amendments for the current fiscal year and future requirements | 2.5 New standards or amendments for the current fiscal year and future requirements (a) New standards and pronouncements adopted in the current fiscal year In the current fiscal year, the Company identified a series of amendments under the IFRS accounting standards that became effective for accounting periods starting on or after January 1, 2022: - Onerous contracts: costs of fulfilling a contract (amendments to IAS 37). - Annual improvements of IFRS Standards 2018-2020. - Property, Plant and Equipment: revenue before intended use (amendments to IAS 16). - Reference to the Conceptual Framework (amendments to IFRS 3). The adoption of these amendments did not have any material impact on the disclosures or amounts presented in these consolidated financial statements. (b) Future requirements The new and amended standards and interpretations already issued but not yet effective as of the reporting date are described below: - Classification of liabilities as current or non-current (amendments to IAS 1). - Definition of accounting estimates (amendments to IAS 8). - Definition of materiality for disclosure of accounting policies (amendments to IAS1 and IFRS Practice Statement 2). - Deferred taxes related to assets and liabilities arising from a single transaction (amendments to IAS 12). - Insurance contracts (IFRS17). The Company plans to adopt these new and amended standards and interpretations, if applicable, when they become effective. Management does not expect the adoption of the standards listed above to have a significant impact on the Company’s consolidated financial statements in future periods. |
Impacts from Russia-Ukraine conflict | 2.6 Impacts from Russia-Ukraine conflict The Company formed a committee to monitor the consequences of sanctions applied to Russia and the developments in the conflict as well as to take any measures to minimize potential impacts on the Company, its team members and the communities where it operates. The conflict has caused an increase in the international price of commodities related to the Company's business, such as oil and natural gas, affecting the cost of the Company's inputs used in the production process. The European geopolitical scenario also affected the demand for petrochemical products, global supply chain and pressured inflation in several countries. For this reporting period, it has not caused significant adverse impacts on the Company's equity and financial position, although it is not possible to accurately predict significant adverse effects in the future. Further sanctions, embargoes, regional instability, geopolitical changes, dysfunctions in the logistics chain, adverse effects on macroeconomic conditions, currency exchange rates and interest rates could affect the prices of products and costs of inputs in the international market, interrupt the supply chain, reduce sales and/or affect operations of the Company. As of the reporting date, the Company has not identified any relevant impacts on its business arising from the sanctions applied to date and adverse scenario caused by the geopolitical conflict. |
Basis of preparation of the f_3
Basis of preparation of the financial statements (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Basis Of Preparation Of Financial Statements | |
Schedule of consolidated financial statements | Schedule of consolidated financial statements Total and voting interest (%) 2022, 2021 and 2020 Headquarter 2022 2021 2020 BM Insurance Company Limited ("BM Insurance") Bermuda 100 100 100 Braskem Argentina S.A. (“Braskem Argentina”) Argentina 100 100 100 Braskem Energy Ltda. (i) Brazil 100 Braskem Finance Limited (“Braskem Finance”) Cayman Islands 100 100 100 Braskem Green S.A. Brazil 100 100 Braskem Incorporated Limited ("Braskem Inc.") Cayman Islands 100 100 100 Braskem Mexico, S. de RL de C.V. ("Braskem México") Mexico 100 100 100 Braskem Netherlands B.V. ("Braskem Holanda") Netherlands 100 100 100 Braskem Petroquímica Chile Ltda. (“Braskem Chile”) Chile 100 100 100 Braskem Ventures Ltda. ("Braskem Ventures") (ii) Brazil 100 Lantana Trading Co. Inc. (“Lantana”) (iii) Bahamas 100 100 Voqen Energia Ltda. ("Voqen") (i) Brazil 100 - Braskem America Finance Company ("Braskem America Finance") USA 100 100 100 Braskem America, Inc. (“Braskem America”) USA 100 100 100 Braskem Europe GmbH ("Braskem Alemanha") Germany 100 100 100 Braskem Idesa S.A.P.I. ("Braskem Idesa") Mexico 75 75 75 Braskem Idesa Servicios S.A. de C.V. ("Braskem Idesa Serviços") Mexico 75 75 75 Braskem India Private Limited ("Braskem India") India 100 100 100 Braskem Mexico Proyectos S.A. de C.V. SOFOM ("Braskem México Sofom") Mexico 100 100 100 Braskem Mexico Servicios S. RL de C.V. ("Braskem México Serviços") Mexico 100 100 100 Braskem Netherlands Finance B.V. (“Braskem Holanda Finance”) Netherlands 100 100 100 Braskem Netherlands Green B.V. (“Braskem Holanda Green”) Netherlands 100 100 Braskem Netherlands Inc. B.V. (“Braskem Holanda Inc.”) Netherlands 100 100 100 Builder Brasil Ltda. ("Builder Brasil") (ii) Brazil 100 Builder USA LLC. ("Builder USA") (ii) USA 100 Cetrel S.A. ("Cetrel") Brazil 63.70 63.70 63.70 Distribuidora de Água Camaçari S.A. ("DAC") Brazil 63.70 63.70 63.70 B&TC B.V. ("B&TC") (iv) Netherlands 60 ER Plastics B.V. ("ER Plastics") (iv) Netherlands 60 Terminal Química Puerto México ("Terminal Química") Mexico 75 75 Special Purpose Entities Fundo de Investimento Caixa Júpiter Multimercado Crédito Privado Brazil 100 100 100 Fundo de Investimento Santander Netuno Multimercado Crédito Privado Longo Prazo ("FIM Netuno") Brazil 100 100 100 (i) Voqen was incorporated in 2022 and began its operations in September 2022. Its main activities include power and natural gas trading and services rendered, as well as representation in the Free Energy Contracting Environment. In July 2022, Braskem Energy Ltda., which was 100% held by Braskem, was merged into Voqen at book value. (ii) Braskem Ventures, Builder Brasil and Builder USA: entities incorporated between May 2022 and June 2022 and are part of the Oxygea group, whose purpose is to foster the creation and development of new business initiatives. (iii) Lantana was a non-operational entity that had the operations closed in November 2022. (iv) B&TC and ER Plastics: In August 2022, Braskem Holanda acquired 60% interest in B&TC, which holds 100% of the shares of ER Plastics, which undertakes mechanical recycling of mixed plastic waste into compression molded products (boards for use in construction and pallets). |
Schedule of subsidiaries with a functional currency | Schedule of subsidiaries with a functional currency Subsidiaries Functional currency Braskem Alemanha, B&TC and ER Plastics Euro BM Insurance, Braskem America, Braskem America Finance, Braskem Holanda, Braskem Holanda Finance, Braskem Holanda Inc., Braskem México Proyectos, Braskem Holanda Green, Terminal Química and Builder USA. U.S.dollar ("US$") Braskem Idesa, Braskem Idesa Serviços, Braskem México and Braskem México Serviços Mexican peso Braskem Argentina Argentinean peso Braskem Chile Chilenean peso Braskem Índia Rupee |
Risk management (Tables)
Risk management (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Risk Management | |
Schedule of financial liabilities by maturity | Schedule of financial liabilities by maturity Consolidated Until Between one Between two More than one year and two years and five years five years Total Trade payables 12,410,232 3,069 12,413,301 Borrowings 1,360,722 3,139,258 3,931,315 57,625,391 66,056,686 Debentures 136,142 102,090 - 6,167,985 6,406,217 Braskem Idesa borrowings 996,697 17,274,826 18,271,523 Derivatives 192,226 5,691 - 88,273 286,190 Loan from non-controlling shareholder of Braskem Idesa 4,391,832 4,391,832 Leniency agreement 434,804 658,154 - - 1,092,958 Lease 1,109,048 855,803 581,592 2,436,734 4,983,177 At December 31, 2022 16,639,871 4,764,065 4,512,907 87,985,041 113,901,884 |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Cash and cash equivalents [abstract] | |
Schedule of cash and cash equivalents | Schedule of cash and cash equivalents 2022 2021 Cash Domestic market 517,236 676,083 Foreign market (i) 5,556,972 4,374,739 Cash equivalents Domestic market 3,684,999 1,141,221 Foreign market (i) 2,707,267 2,488,643 Total 12,466,474 8,680,686 (i) On December 31, 2022, it includes R$ 931,991 of cash and R$ 1,252,341 of cash equivalents (2021: R$ 1,267,582 505,749 |
Financial investments (Tables)
Financial investments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Investments | |
Schedule of financial investments | Schedule of financial investments 2022 2021 Amortized cost Time deposit investments - 106,271 Fair value through profit or loss LFT´s and LF´s (i) 1,789,375 2,337,171 Restricted funds investments (ii) 305,485 852,362 Other 217,771 213,751 Total 2,312,631 3,509,555 Current assets 2,295,497 3,492,710 Non-current assets 17,134 16,845 Total 2,312,631 3,509,555 (i) These refer to Brazilian floating-rate government bonds ("LFTs") issued by the Brazilian federal government and floating-rate bonds ("LFs") issued by financial institutions. (ii) Includes the following amounts: R$ 175,153 835,517 130,332 16,845 |
Trade accounts receivable (Tabl
Trade accounts receivable (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Trade Accounts Receivable | |
Schedule of trade accounts receivable | Schedule of trade accounts receivable Note 2022 2021 Customers Domestic market Third parties 1,533,675 2,851,701 Related parties 9 13,791 12,240 1,547,466 2,863,941 Foreign market Third parties 1,796,559 4,434,653 1,796,559 4,434,653 Expected credit losses (i) (112,091) (131,634) Total 3,231,934 7,166,960 Current assets 3,231,934 7,153,565 Non-current assets - 13,395 Total 3,231,934 7,166,960 (i) According to the Management, the Company's Expected Credit Losses ("PCE") are considered sufficient to cover any losses on accounts receivable. To estimate this loss, the Company considers the following criteria: (i) receivables past due and falling due within 90 days, weighted by each client's operational risk; (ii) receivables in renegotiation process; (iv) receivables past due over 180 days; (v) receivables in collection by the courts; and (vi) receivables from clients classified with high operational risk. The table below shows PCE by maturity: |
Schedule of trade accounts receivable by maturity | Schedule of trade accounts receivable by maturity 2022 2021 Trade accounts receivable Expected credit losses Total Trade accounts receivable Expected credit losses Total Accounts receivables not past due 2,687,775 (34,931) 2,652,844 6,705,123 (12,291) 6,692,832 Past due securities: - - Up to 90 days 536,289 (6,783) 529,506 431,899 (2,264) 429,635 Between 91 to 180 days 25,015 (3,010) 22,005 45,134 (1,390) 43,744 Above 180 days 94,946 (67,367) 27,579 116,438 (115,689) 749 Total 3,344,025 (112,091) 3,231,934 7,298,594 (131,634) 7,166,960 |
Schedule of changes in allowance for doubtful accounts | Schedule of changes in allowance for doubtful accounts 2022 2021 2020 Balance at the beginning of the year (131,634) (173,007) (229,323) Additions (87,898) (144,888) (65,571) Reversals 71,400 149,681 28,563 Write-off of securities considered uncollectible 36,041 36,580 93,324 Balance at the end of the year (112,091) (131,634) (173,007) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Inventories Abstract | |
Schedule of inventory | Schedule of inventory 2022 2021 Finished goods 8,558,025 9,271,708 Semi-finished goods 663,182 568,914 Raw materials, production inputs and packaging 2,747,525 3,356,660 Maintenance materials 869,953 766,994 Advances to suppliers 124,285 62,573 Imports in transit 1,067,094 2,308,252 Total 14,030,064 16,335,101 |
Schedule of provision for inventories | Schedule of provision for inventories 2022 2021 2020 Balance at the beginner of the year 82,218 122,572 82,195 Additions (i) 533,471 97,911 120,483 Utilization/reversals (103,583) (138,265) (80,106) Balance at the end of the year 512,106 82,218 122,572 (i) The increase in the provision refers mainly to the net realizable value of inventories in certain product lines, which is explained by the lower sales prices compared to the values of inventories recorded on the balance sheet due to the current economic scenario. |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Related Parties | |
Schedule of related party transactions | Schedule of related party transactions Balances at December 31, 2022 Balances at December 31, 2021 Novonor and Novonor and subsidiaries Petrobras and subsidiaries Petrobras and Balance sheet and associates subsidiaries Other (i) Total and associates subsidiaries Other (i) Total Assets Current Trade accounts receivable - 11,924 1,867 13,791 - 4,894 7,346 12,240 Inventories (advance to suppliers) - 61,428 - 61,428 - 9,927 - 9,927 Dividends and interest on capital - - 4,296 4,296 - - - - Other receivabels 11,348 287 - 11,635 - 287 - 287 - Non-current - Other receivables - 5,657 - 5,657 - 38,987 - 38,987 Total assets 11,348 79,296 6,163 96,807 - 54,095 7,346 61,441 Liabilities Current Trade payables 126,014 137,764 14,189 277,967 103,259 134,063 11,113 248,435 Other payables 4 233,133 314 233,451 - 296,984 345 297,329 Non-current Trade payables 3,069 - - 3,069 - - - Loan to non-controlling shareholders of Braskem Idesa - - 2,498,093 2,498,093 - - 3,646,538 3,646,538 Total liabilities 129,087 370,897 2,512,596 3,012,580 103,259 431,047 3,657,996 4,192,302 Year ended December 31, 2022 Year ended December 31, 2021 Year ended December 31, 2020 Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Novonor and subsidiaries and associates Petrobras and subsidiaries Other (i) Total Transactions Sales of products - 182,218 437,514 619,732 – 171,665 540,855 712,520 – 182,521 326,825 509,346 Purchases of raw materials, finished goods services and utilities (334,363) (22,900,140) (24,813) (23,259,316) (306,426) (19,833,063) (6,953) (20,146,442) (133,127) (14,566,840) (20,350) (14,720,317) Financial income (expenses), net (854) (33,656) 41,082 6,572 (141) (11,758) (245,819) (257,718) (452) (3,810) (818) (5,080) General and administrative expenses - – (45,329) (45,329) – - (67,273) (67,273) – – (46,738) (46,738) Other income (expenses) - 51,248 - 51,248 – (217,497) - (217,497) – – - – (i) Borealis, Grupo Idesa, Refinaria de Petróleo Riograndense S.A e Vexty |
Schedule of key management personnel | Schedule of key management personnel Statement of profit or loss transactions 2022 2021 2020 Remuneration Short-term benefits 83,466 119,734 74,943 Post-employment benefit 1,636 2,121 961 Long term incentive plan 16,938 14,394 7,456 Total 102,040 136,249 83,360 |
Taxes recoverable (Tables)
Taxes recoverable (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Taxes Recoverable | |
Schedule of taxes recoverable | Schedule of taxes recoverable 2022 2021 Parent Company and subsidiaries in Brazil Value-added tax on sales and services (ICMS) 410,138 291,424 ICMS - credits from PP&E 302,940 224,308 Social integration program (PIS) and social contribution on revenue (Cofins) (a) 560,002 250,491 PIS and Cofins - credits from PP&E 546,427 447,476 REINTEGRA program 20,504 21,764 Federal tax credits (b) 153,960 948,448 Other 68,514 89,205 Foreign subsidiaries Value-added tax ("IVA") 579,672 348,021 Other 131,867 59,579 Total 2,774,024 2,680,716 Current assets 1,156,355 1,428,658 Non-current assets 1,617,669 1,252,058 Total 2,774,024 2,680,716 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Investments Abstract | |
Schedule of Information on investments | Schedule of Information on investments Net profit (loss) for the year Equity 2022 2021 2020 2022 2021 Jointly-controlled investment RPR (i) 76,450 312 (63,525) 110,040 50,064 Bioglycols LLC (ii) (3,977) - 80,757 - Associate Borealis (iii) 53,617 45,490 6,019 252,053 205,568 (i) RPR's main activities are the refining, processing and sale and import of oil, its byproducts and correlated products. The percentage of Braskem's equity interest in the capital of RPR on December 31, 2022 is 33.20 33.20 (ii) Bioglycols was incorporated in March 2022, which currently is in the pre-operational phase. Its main activities will be the production and marketing of monoethylene glycol (MEG) and monopropylene glycol (MPG). (iii) Borealis' main activities are the production and commercialization of petrochemical byproducts and correlated products. The percentage of Braskem's ownership interest in the capital of Borealis on December 31, 2022 is 20 20 |
Schedule of Changes in investments | Schedule of Changes in investments Borealis RPR Bioglycols LLC Other Total Balance at 2020 32,272 10,697 - 184 43,153 Dividends and interest on equity (295) - (295) Equity in results of investees 9,136 103 - 9,239 Other comprehensive income 5,825 5,825 Other 1,001 1,001 Balance at 2021 41,113 16,625 – 1,185 58,923 Dividends and interest on equity (5,013) (4,296) (9,309) Equity in results of investees 11,296 25,384 (1,832) 34,848 Other comprehensive income (1,174) 1,299 (788) (663) Capital increase 41,908 23,061 64,969 Other 255 255 Balance at 2022 47,396 36,539 41,375 23,713 149,023 |
Schedule of financial information of the subsidiary in which the non-controlling shareholder holds interests | Schedule of financial information of the subsidiary in which the non-controlling shareholder holds interests Statement of Financial Position Consolidated Braskem without the effect off Braskem Idesa consolidated Consolidated Braskem Idesa (i) Eliminations Consolidated 2022 2021 2022 2021 2022 2021 2022 2021 Assets Curent Cash and cash equivalents 10,282,142 6,907,355 2,184,332 1,773,331 - - 12,466,474 8,680,686 Financial investments 2,295,497 3,492,710 - - - - 2,295,497 3,492,710 Trade accounts receivable 3,621,335 6,607,762 73,195 1,225,479 (462,596) (679,676) 3,231,934 7,153,565 Inventories 12,921,617 15,325,001 1,108,447 1,010,100 - - 14,030,064 16,335,101 Taxes recoverable 905,844 1,402,100 250,511 26,558 - - 1,156,355 1,428,658 Recoverable income taxes 392,062 1,189,812 - - - - 392,062 1,189,812 Derivatives 157,906 33,816 - - - - 157,906 33,816 Other receivables 628,447 841,473 68,544 137,624 30,373 - 727,364 979,097 Total current assets 31,204,850 35,800,029 3,685,029 4,173,092 (432,223) (679,676) 34,457,656 39,293,445 Non-current Taxes recoverable 1,328,695 983,655 288,974 268,403 - - 1,617,669 1,252,058 Recoverable income taxes 252,995 230,069 - - - - 252,995 230,069 Deferred tax assets 6,671,492 6,481,642 488,116 1,775,610 (801,007) - 6,358,601 8,257,252 Related parties 7,250,756 10,064,320 - - (ii) (7,250,756) (10,064,320) - - Derivatives 71,544 51 - - - - 71,544 51 Judicial deposits 215,274 194,212 - - - - 215,274 194,212 Other receivables 187,107 370,928 563 24,964 - - 187,670 395,892 Investments 149,023 58,923 - - - - 149,023 58,923 Property, plant and equipment 24,319,015 23,510,588 14,126,939 14,483,720 (iii) (682,659) (769,178) 37,763,295 37,225,130 Intangible 2,730,124 2,572,675 292,020 304,624 - - 3,022,144 2,877,299 Right of use of assets 3,638,507 2,427,633 910,900 352,404 (v) (596,420) - 3,952,987 2,780,037 Total non current assets 46,814,532 46,894,696 16,107,512 17,209,725 (9,330,842) (10,833,498) 53,591,202 53,270,923 Total assets 78,019,382 82,694,725 19,792,541 21,382,817 (9,763,065) (11,513,174) 88,048,858 92,564,368 Liabilities and shareholders' equity Current Trade payables 11,418,031 11,861,563 1,291,347 871,379 (462,596) (679,676) 12,246,782 12,053,266 Borrowings 1,254,550 1,343,494 - - - - 1,254,550 1,343,494 Debentures 127,801 59,088 - - - - 127,801 59,088 Braskem Idesa Borrowings - - 868,635 86,765 - - 868,635 86,765 Payroll and related charges 789,441 1,095,040 38,385 75,306 - - 827,826 1,170,346 Taxes payable 481,729 1,003,813 9,322 8,303 - - 491,051 1,012,116 Income taxes payable 381,117 1,672,844 - - - - 381,117 1,672,844 Lease 955,225 598,523 195,518 76,843 (v) (111,037) - 1,039,706 675,366 Provision - geological event in Alagoas 4,247,609 4,378,071 - - - - 4,247,609 4,378,071 Other payables 2,645,828 2,495,544 24,283 246,623 30,059 - 2,700,170 2,742,167 Total current liabilities 22,301,331 24,507,980 2,427,490 1,365,219 (543,574) (679,676) 24,185,247 25,193,523 Non-current Loan agreements 31,310,710 33,553,766 - - - - 31,310,710 33,553,766 Braskem Idesa Borrowings - - 10,501,683 12,224,770 - - 10,501,683 12,224,770 Debentures 3,023,674 137,830 - - - - 3,023,674 137,830 Accounts payable to related parties - - 7,175,837 10,134,287 (ii) (7,175,837) (10,134,287) - - Loan to non-controlling shareholders of Braskem Idesa - - 2,498,093 3,646,538 - - 2,498,093 3,646,538 Deferred tax liabilities 904,521 1,407,434 1,049,967 - (801,007) - 1,153,481 1,407,434 Provision for losses on subsidiaries 4,094,535 5,284,666 - - (iv) (4,094,535) (5,284,666) - - Lease 2,942,284 2,147,745 746,285 333,303 (v) (487,745) - 3,200,824 2,481,048 Provision - geological event in Alagoas 2,378,949 3,283,188 - - - - 2,378,949 3,283,188 Other payables 3,590,317 4,406,733 97,663 25,710 - - 3,687,980 4,432,443 Total non current liabilities 48,244,990 50,221,362 22,069,528 26,364,608 (12,559,124) (15,418,953) 57,755,394 61,167,017 Shareholders' equity Attributable to the Company's shareholders 7,321,798 7,865,819 (4,704,477) (6,347,010) 4,704,478 6,347,010 7,321,799 7,865,819 Non-controlling interest in subsidiaries 151,263 99,564 - - (1,364,845) (1,761,555) (1,213,582) (1,661,991) Total shareholders equity 7,473,061 7,965,383 (4,704,477) (6,347,010) 3,339,633 4,585,455 6,108,217 6,203,828 Total liabilities and shareholders' equity 78,019,382 82,694,725 19,792,541 21,382,817 (9,763,065) (11,513,174) 88,048,858 92,564,368 (i) Consolidation of Braskem Idesa with its subsidiaries Braskem Idesa Servicios and Terminal Química. (ii) Loan from Braskem Holanda to the Braskem Idesa project. (iii) Adjustment corresponding to the capitalization of a portion of financial charges of the abovementioned loan. (iv) Provision recorded in the subsidiary Braskem Holanda for the negative shareholders' equity of Braskem Idesa. (v) Sublease agreed between the subsidiary Braskem Holanda and Braskem Idesa. Statement of profit or loss Consolidated Braskem without the effect of Braskem Idesa consolidated Consolidated Braskem Idesa Eliminations Consolidated 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 Net revenue 93,038,949 101,448,155 55,779,528 5,953,229 6,333,199 4,046,581 (2,472,894) (2,156,153) (1,282,615) 96,519,284 105,625,201 58,543,494 Cost of products sold (82,624,987) (72,471,291) (45,563,723) (5,074,693) (3,321,601) (3,112,129) 2,539,132 2,224,661 1,344,438 (85,160,548) (73,568,231) (47,331,414) Gross profit 10,413,962 28,976,864 10,215,805 878,536 3,011,598 934,452 66,238 68,508 61,823 11,358,736 32,056,970 11,212,080 Income (expenses) Selling and distribution (1,890,181) (1,834,303) (1,609,844) (218,236) (221,337) (242,211) – – – (2,108,417) (2,055,640) (1,852,055) (Loss) reversals for impairment of trade accounts receivable (38,248) (8,736) (55,074) (178) (178) (178) – – – (38,426) (8,914) (55,252) General and administrative (2,545,044) (2,292,884) (1,739,541) (216,098) (229,334) (179,350) (2,841) 91 144 (2,763,983) (2,522,127) (1,918,747) Research and development (374,493) (296,583) (250,648) – – – – – – (374,493) (296,583) (250,648) Results from equity-accounted investees (1,078,115) (82,709) (1,026,922) 7 – – 1,112,956 87,353 1,007,524 34,848 4,644 (19,398) Other income 505,629 1,530,443 748,923 1,704 4,044 1,826 – – – 507,333 1,534,487 750,749 Other expenses (2,305,411) (2,651,425) (7,573,874) (38,114) (17,865) (364,747) - - - (2,343,525) (2,669,290) (7,938,621) Operating profit 2,688,099 23,340,667 (1,291,175) 407,621 2,546,928 149,792 1,176,353 155,952 1,069,491 4,272,073 26,043,547 (71,892) Financial results Financial expenses (5,013,176) (4,750,895) (3,851,233) (1,817,551) (1,618,020) (1,505,628) 1,168,034 461,760 443,496 (5,662,693) (5,907,155) (4,913,365) Financial income 2,558,268 2,276,312 1,032,530 610,792 12,886 11,150 (1,158,926) (461,760) (443,496) 2,010,134 1,827,438 600,184 Exchange rate variations, net (643,377) (2,884,292) (4,823,269) 235,314 (1,164,697) (482,125) (164,107) 46,182 6,683 (572,170) (4,002,807) (5,298,711) Finance income (cost) (3,098,285) (5,358,875) (7,641,972) (971,445) (2,769,831) (1,976,603) (154,999) 46,182 6,683 (4,224,729) (8,082,524) (9,611,892) (Loss) profit before income tax and social contribution (410,186) 17,981,792 (8,933,147) (563,824) (222,903) (1,826,811) 1,021,354 202,134 1,076,174 47,344 17,961,023 (9,683,784) Income taxes 95,651 (3,991,055) 2,253,684 (963,386) (8,348) 414,794 - - - (867,735) (3,999,403) 2,668,478 (Loss) net profit for the year (314,535) 13,990,737 (6,679,463) (1,527,210) (231,251) (1,412,017) 1,021,354 202,134 1,076,174 (820,391) 13,961,620 (7,015,306) Statement of cash flows Consolidated Braskem without the effect of Braskem Idesa consolidated Consolidated Braskem Idesa Eliminations Consolidated 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 (Loss) profit before taxes (410,186) 18,348,774 (8,933,147) (563,824) (222,903) (1,826,811) 1,021,354 (164,848) 1,076,174 47,344 17,961,023 (9,683,784) Adjustments for reconciliation of profit (loss) – – – Depreciation and amortization 3,944,259 3,432,816 2,995,609 901,194 796,861 1,114,439 (112,288) (51,244) (61,967) 4,733,165 4,178,433 4,048,081 Results from equity-accounted investees 1,078,108 (78,567) 1,026,922 – – – (1,112,956) 73,923 (1,007,524) (34,848) (4,644) 19,398 Interest and monetary and exchange variations, net 1,788,259 3,604,357 8,541,980 759,378 2,564,905 1,921,975 154,999 142,169 (6,683) 2,702,636 6,311,431 10,457,272 Reversal of provisions 370,153 819,130 336,838 – – – – – – 370,153 819,130 336,838 Provision - geological event in Alagoas 1,520,019 1,339,765 6,901,828 – – – – – – 1,520,019 1,339,765 6,901,828 PIS and Cofins credits - exclusion of ICMS from the calculation basis – (1,031,099) (310,557) – – – – – – – (1,031,099) (310,557) Loss for impairment of trade accounts receivable 38,426 10,134 55,252 – (1,220) – – – – 38,426 8,914 55,252 Provision for losses and write-offs of long-lived assets 130,366 114,148 8,794 629 1,039 – – – – 130,995 115,187 8,794 Adjustments for reconciliation of profit 8,459,404 26,559,458 10,623,519 1,097,377 3,138,682 1,209,603 (48,891) – – 9,507,890 29,698,140 11,833,122 Changes in operating working capital – – – – – – Judicial deposits - unfreezing (blocking) Public Civil Action – – 3,746,107 – – – – – – – – 3,746,107 Financial investments 1,530,050 296,957 (1,860,827) – – – – – – 1,530,050 296,957 (1,860,827) Trade accounts receivable 2,751,788 (1,739,822) (2,247,729) 1,126,559 (619,688) (152,971) (217,080) 184,225 212,874 3,661,267 (2,175,285) (2,187,826) Inventories 2,246,770 (7,176,104) (309,492) (108,609) (398,181) 56,958 – – – 2,138,161 (7,574,285) (252,534) Taxes recoverable 928,181 4,958,779 1,584,911 (245,724) 4,808 (52,357) – – – 682,457 4,963,587 1,532,554 Prepaid expenses – – (172,027) – – 465,812 – – – – – 293,785 Other receivables 297,209 (269,721) 44,513 13,580 71,165 352,590 – – – 310,789 (198,556) 397,103 Trade payables (73,230) 955,475 (2,926,585) 370,229 428,364 137,895 217,080 (184,225) (212,874) 514,079 1,199,614 (3,001,564) Taxes payable (1,085,427) (2,878,056) 965,191 76,071 (129,432) (515,430) – – – (1,009,356) (3,007,488) 449,761 Advances from customers – – 224,764 – – (25,776) – – – – – 198,988 Leniency agreement (317,867) (389,087) (349,842) - – – – – – (317,867) (389,087) (349,842) Sundry provisions (219,313) (482,565) (158,915) (187,274) 168,371 13,560 – – – (406,587) (314,194) (145,355) Geological event in Alagoas (2,742,791) (2,928,081) (1,181,931) - – – – – – (2,742,791) (2,928,081) (1,181,931) Other payables (384,838) 823,515 (217,997) (5,889) (18,063) 33,810 – – – (390,727) 805,452 (184,187) Cash generated from operations 11,389,936 17,730,748 7,763,660 2,136,320 2,646,026 1,523,694 (48,891) – – 13,477,365 20,376,774 9,287,354 Interest paid (2,118,043) (2,207,196) (1,946,931) (786,836) (676,237) (789,890) – – – (2,904,879) (2,883,433) (2,736,821) Income taxes (1,620,616) (2,697,829) (252,479) (131) (9,027) (5,063) – – – (1,620,747) (2,706,856) (257,542) Net cash generated by operating activities 7,651,277 12,825,723 5,564,250 1,349,353 1,960,762 728,741 (48,891) – – 8,951,739 14,786,485 6,292,991 Proceeds from the sale of fixed assets and intangible assets 2,438 40,353 33,140 – – – – – 2,438 40,353 33,140 Additions to investment in subsidiaries (107,090) – – – – (107,090) – – Dividends received 5,660 295 4,822 – – – – – 5,660 295 4,822 Acquisitions to property, plant and equipment and intangible assets (4,153,707) (3,249,132) (2,653,009) (694,574) (172,192) (106,780) – – – (4,848,281) (3,421,324) (2,759,789) Net cash used in investing activities (4,252,699) (3,208,484) (2,615,047) (694,574) (172,192) (106,780) – – – (4,947,273) (3,380,676) (2,721,827) Short-term and long-term debt Acquired 6,418,208 16,308 13,049,459 - – – – – – 6,418,208 16,308 13,049,459 Payments (3,855,662) (9,413,909) (8,734,505) - – – – – – (3,855,662) (9,413,909) (8,734,505) Braskem Idesa borrowings – – – Acquired – – - 7,271,658 – – – – 7,271,658 – Payments – – (45,311) (7,995,045) (905,210) – – (45,311) (7,995,045) (905,210) Related parts – 216,862 (34,122) (226,407) – – (34,122) (9,545) – Loan to non-controlling shareholders of Braskem Idesa - payment (37,618) – – (37,618) Lease (836,718) (787,932) (610,392) (141,063) (53,774) (51,676) 48,891 – – (928,890) (841,706) (662,068) Dividends paid (1,350,293) (5,993,265) (2,380) – – – – – – (1,350,293) (5,993,265) (2,380) Non-controlling interest in subsidiaries 21,162 – (534,456) – – – – – – 21,162 – (534,456) Cash generated (used) in financing activities 396,697 (15,961,936) 3,167,726 (220,496) (1,003,568) (994,504) 48,891 – – 225,092 (16,965,504) 2,173,222 Exchange variation on cash of foreign subsidiaries (420,488) 293,633 1,054,845 (23,282) 83,896 259,741 – – – (443,770) 377,529 1,314,586 Increase in cash and cash equivalents 3,374,787 (6,051,064) 7,171,774 411,001 868,898 (112,802) - - - 3,785,788 (5,182,166) 7,058,972 Represented by Cash and cash equivalents at the beginning for the period 6,907,355 12,958,419 5,786,645 1,773,331 904,433 1,017,235 – – – 8,680,686 13,862,852 6,803,880 Cash and cash equivalents at the end for the period 10,282,142 6,907,355 12,958,419 2,184,332 1,773,331 904,433 – – – 12,466,474 8,680,686 13,862,852 Increase in cash and cash equivalents 3,374,787 (6,051,064) 7,171,774 411,001 868,898 (112,802) - - - 3,785,788 (5,182,166) 7,058,972 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, plant and equipment [abstract] | |
Schedule of estimated useful lives | Schedule of estimated useful lives 2022 2021 Buildings and improvements 3.03 2.92 Machinery, equipment and installations 7.32 6.74 Furniture and fixtures 10.06 10.06 IT equipment 21.03 21.18 Lab equipment 9.59 9.53 Security equipment 10.50 10.04 Vehicles 19.51 18.82 Other 18.09 17.05 |
Schedule of reconciliation of carrying amount | Schedule of reconciliation of carrying amount Land Buildings and Improvements Machinery, Equipment and Facilities Projects and Stoppage in Progress (i) Other Total Cost 683,031 8,281,424 53,401,832 4,389,105 2,038,666 68,794,058 Accumulated depreciation and amortization - (3,159,185) (28,268,867) - (1,436,857) (32,864,909) Balance as of December 31, 2020 683,031 5,122,239 25,132,965 4,389,105 601,809 35,929,149 Acquisitions - 338 160,297 3,388,078 3,421 3,552,134 Capitalized financial charges - - - 192,207 - 192,207 Foreign currency translation adjustment Cost 17,046 287,866 1,118,655 74,428 23,859 1,521,854 Depreciation - (88,406) (313,267) - (16,760) (418,433) Transfers by concluded projects 244 13,965 3,207,833 (3,412,665) 190,623 - Transfers to inventory - - - (16,838) - (16,838) Transfers to intangible - 31,495 (11,673) (73,397) (11,847) (65,422) Disposals Cost (10,856) 9,723 (353,274) (91,485) (41,066) (486,958) Depreciation - 168 387,005 - 9,206 396,379 Depreciation - (195,900) (3,038,176) - (143,164) (3,377,241) Transfers to "non-current assets held for sale" (1,701) - (2) - 2 (1,701) Transfers Others - 118,629 (40,095) (78,534) Net book value 687,764 5,181,488 26,408,992 4,409,338 537,549 37,225,130 Cost 687,764 8,591,020 57,535,343 4,449,433 2,215,503 73,479,063 Accumulated depreciation - (3,409,532) (31,126,351) (40,095) (1,677,954) (36,253,933) Balance as of December 31, 2021 687,764 5,181,488 26,408,992 4,409,338 537,549 37,225,130 Acquisitions - 1,709 296,719 4,643,953 7,603 4,949,985 Additions through acquisition of ER Plastics - 20,868 56,288 - 362 77,518 Capitalized financial charges - - - 203,135 - 203,135 Foreign currency translation adjustment - Cost (19,916) (173,496) (941,271) (38,966) (28,592) (1,202,241) Depreciation - 51,263 285,016 - 20,269 356,548 Transfers by concluded projects - 86,609 2,688,220 (2,915,496) 140,667 – Transfers to intangible - - - (13,597) - (13,597) Disposals - Cost (3) (7) (926,944) (20,665) (16,689) (964,308) Depreciation - - 815,220 - 13,715 828,934 Depreciation - (203,358) (3,347,376) - (147,074) (3,697,809) Net book value 667,845 4,965,077 25,334,863 6,267,702 527,809 37,763,295 Cost 667,845 8,526,704 58,708,355 6,307,797 2,318,854 76,529,554 Accumulated depreciation - (3,561,627) (33,373,492) (40,095) (1,791,045) (38,766,259) Balance as of December 31, 2022 667,845 4,965,077 25,334,863 6,267,702 527,809 37,763,295 (i) As of December 31, 2022, the main amounts recorded under this item corresponded to expenditures with scheduled maintenance shutdowns at plants in the amount of R$2,343,313 (2021: R$1,473,396), capitalized financial charges in the amount of R$365,374 (2021: R$237,519), inventories of spare parts in the amount of R$566,873 (2021: R$534,875), strategic projects ongoing in Brazil in the amount of R$713,813 (2021: R$351,657) and in Braskem America in the amount of R$126,055 (2021: R$136,342). The remainder corresponds mainly to projects for maintaining the production capacity of plants. |
Schedule of property plant and equipment by country | Schedule of property plant and equipment by country 2022 2021 Brazil 17,204,824 15,867,387 Mexico 13,444,279 13,714,543 United States of America 6,729,469 7,281,077 Germany 294,612 356,288 Netherland 89,841 5,691 Other 270 144 37,763,295 37,225,130 |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Intangible Assets | |
Schedule of changes in intangible assets | Schedule of changes in intangible assets Customers Brands Software and Suppliers Goodwill and Patents licenses Agreements Total Cost 3,187,678 499,515 1,010,201 392,246 5,089,640 Accumulated amortization (1,128,804) (214,455) (683,157) (234,533) (2,260,949) Balance as of December 31, 2020 2,058,874 285,060 327,044 157,713 2,828,691 Acquisitions - 670 67,686 420 68,776 Foreign currency translation adjustment - 14,271 Cost - 12,443 13,023 - 25,466 Amortization - (2,711) (8,484) - (11,195) Transfers from property, plant and equipment - 28,770 36,652 - 65,422 Other write-offs, net of amortization - - (3,393) - (3,393) Amortization - (10,444) (64,008) (22,016) (96,468) Net book value 2,058,874 313,789 368,520 136,117 2,877,299 Cost 3,187,678 549,196 1,123,619 392,666 5,253,159 Accumulated amortization (1,128,804) (235,408) (755,099) (256,549) (2,375,860) Balance as of December 31, 2021 2,058,874 313,789 368,520 136,117 2,877,299 Acquisitions - 1,307 144,930 913 147,150 Additions through acquisition of ER Plastics - 21,162 - 66,571 87,733 Goodwill acquisition of ER Plastics 28,402 - - - 28,402 Foreign currency translation adjustment - - - Cost - (7,407) (19,762) - (27,170) Amortization - 2,711 14,440 - 17,150 Transfers from property, plant and equipment - - 13,597 - 13,597 Other write-offs, net of amortization - - (10,011) - (10,011) Amortization - (10,575) (79,774) (21,659) (112,008) Net book value 2,087,276 320,986 431,939 181,943 3,022,144 Cost 3,216,080 564,258 1,252,373 460,150 5,492,861 Accumulated amortization (1,128,804) (243,272) (820,434) (278,207) (2,470,717) Balance as of December 31, 2022 2,087,276 320,986 431,939 181,943 3,022,144 |
Schedule of goodwill impairment testing | Schedule of goodwill impairment testing Allocated Recoverable Book Discount goodwill amount value (i) CF/Book value rate Northeastern petrochemical complex 475,780 7,305,045 3,124,332 2.3 14.68 Southern petrochemical complex 1,390,741 20,840,873 6,781,881 3.1 15.85 Vinyls 192,353 5,050,166 2,880,156 1.8 14.70 (i) The book value includes, in addition to goodwill, property, plant and equipment and intangible assets with defined useful lives and working capital. |
[custom:ScheduleOfPotentialImpactOnCashFlowsOfTheDiscountRateAndPerpetuity] | Schedule of potential impact on cash flows of the discount rate and perpetuity +0.5% on -0.5% on discount rate perpetuity CGU Northeastern petrochemical complex 6,822,642 7,044,458 Southern petrochemical complex 19,744,124 20,351,277 Vinyls 4,741,224 4,930,076 |
Schedule of amortization estimated useful life | Schedule of amortization estimated useful life - Brands and patents 10 20 - Software licenses and rights of use 5 10 - Customers and suppliers’ agreements 14 28 |
Schedule of intangible assets by country | Schedule of intangible assets by country 2022 2021 Brazil 2,571,011 2,526,999 Mexico 292,020 304,624 Netherland 122,447 United States of America 22,820 24,404 Germany 13,839 21,253 Other 7 19 3,022,144 2,877,299 |
Right-of-use assets and lease_2
Right-of-use assets and lease liability (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Right-of-use Assets And Lease Liability | |
Schedule of changes in right-of-use assets | Schedule of changes in right-of-use assets Balance as of Foreign currency Balance as of 31/12/2021 Acquisitions Depreciation Disposal translation adjustment 31/12/2022 Rail cars 986,061 72,506 (173,272) (5,359) (53,740) 826,196 Machinery and equipment 793,254 1,147,145 (330,971) (5,970) (804) 1,602,654 Vessels 696,661 811,372 (385,968) - (1,793) 1,120,272 Buildings and constructions 265,312 102,040 (75,319) - (213) 291,820 Vehicles 29,449 102,827 (26,158) - (120) 105,998 Computer equipment and goods 9,300 417 (3,590) - (80) 6,047 Total 2,780,037 2,236,307 (995,278) (11,329) (56,750) 3,952,987 Balance as of Foreign currency Balance as of 12/31/2020 Acquisitions Depreciation Disposal translation adjustment 31/12/2021 Rail cars 1,007,336 102,648 (187,915) - 63,992 986,061 Machinery and equipment 749,728 281,113 (207,985) (30,245) 643 793,254 Vessels 834,848 258,201 (399,677) - 3,289 696,661 Buildings and constructions 259,896 52,897 (52,997) (6,333) 11,849 265,312 Vehicles 33,888 51,171 (24,078) (31,667) 135 29,449 Computer equipment and goods 16,699 542 (4,334) (3,682) 75 9,300 Total 2,902,395 746,573 (876,986) (71,928) 79,983 2,780,037 |
Schedule of changes in lease liabilities | Schedule of changes in lease liabilities 2022 2021 As of December 31 3,156,414 3,207,886 Acquired 2,232,043 746,573 Additions through acquisition of ER Plastics 4,264 Disposals (12,568) (50,473) Interests and monetary and exchange variations, net 83,871 206,375 Currancy translation adjustments (73,585) 85,984 Payments (928,890) (841,706) Interest paid (221,019) (198,225) As of December 31 4,240,530 3,156,414 Current liability 1,039,706 675,366 Non-current liability 3,200,824 2,481,048 Total 4,240,530 3,156,414 |
Schedule of payment schedule by maturity | Schedule of payment schedule by maturity 2022 2021 2022 777,410 2023 1,109,048 633,141 2024 855,803 493,147 2025 630,074 399,924 2026+ 2,388,252 1,073,620 Total 4,983,177 3,377,242 |
Schedule of cash flows related to the contracts | Schedule of cash flows related to the contracts Discounted Undiscounted 2022 2022 2023 1,014 1,080 2024 52,258 55,678 2025 49,390 56,067 2026 46,687 56,468 2027+ 396,669 712,541 Total 546,017 881,835 |
Trade payables (Tables)
Trade payables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Trade Payables | |
Schedule or trade account payables | Schedule or trade account payables Note 2022 2021 Trade payables: Domestic market Third parties 1,748,853 1,492,223 Third parties (forfait) (i) 682,396 487,806 Total Third parties 2,431,249 1,980,029 Related parties 196,440 208,287 Related parties (forfait) (i) 81,527 40,148 Total Related parties 9 277,967 248,435 Foreign market (ii) Third parties 9,540,635 9,936,266 12,249,851 12,164,730 Current liabilities 12,246,782 12,053,266 Non-current liabilities 3,069 111,464 Total 12,249,851 12,164,730 (i) The Company has payment agreements with financial institutions that allow certain suppliers to opt for granting their receivables from the Company upon accepting of financial institutions by acquiring or not the related receivables, without the Company's interference. The grant operation does not imply any change in the instruments issued by suppliers, with the same conditions of the original amount and the payment term maintained. (ii) Includes R$5.8 billion (2021: R$4.7 billion) in raw material purchases due in up to 360 days for which the Company provides letters of credit issued by financial institutions that indicate the suppliers as beneficiaries. |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Borrowings [abstract] | |
Schedule of borrowings | Schedule of borrowings Annual financial charges (%) 2022 2021 Foreign currency Bonds Note 16 (b) 26,124,158 30,322,998 Export prepayment and export credit notes (i) US$ exchange variation + Term SOFR quarterly + 1,79 1,514,651 - Other Note 16 (c) 3,880,165 4,703,059 Transactions costs (453,532) (594,048) 31,065,442 34,432,009 Current liabilities 1,177,144 1,284,483 Non-current liabilities 29,888,298 33,147,526 Total 31,065,442 34,432,009 Local currency Agribusiness Credit Notes ("CRA") Note 16 (d) 763,396 - BNDES IPCA + 6.04 386,534 435,778 Export credit notes 100.00 of CDI + 1.30 348,885 - Other fixed interest loans Interest between 3.5 and 6.5 18,671 24,864 Other variable interest loans IPCA + interest between 2.39 and 2.78 3,525 4,616 Transactions costs (21,193) (7) 1,499,818 465,251 Current liabilities 77,406 59,011 Non-current liabilities 1,422,412 406,240 Total 1,499,818 465,251 Foreign currency and local currency Current liabilities 1,254,550 1,343,494 Non-current liabilities 31,310,710 33,553,766 Total 32,565,260 34,897,260 (i) Maturity in June 2027. |
Schedule of long-term maturities | Schedule of long-term maturities 2022 2021 2023 - 1,199,143 2024 2,143,624 3,965,917 2025 603,743 645,517 2026 581,625 622,032 2027 2,356,678 552,171 2028 7,281,841 7,081,301 2029 287,178 230,557 2030 7,995,727 8,535,493 2031 106,661 61,617 2033 and thereafter 9,953,633 10,660,018 Total 31,310,710 33,553,766 |
Schedule of bonds | Schedule of bonds Interest Issue date Maturity (% per year) 2022 2021 Jul-2011 and jul-2012 (i) jul-2041 7.125 3,044,911 3,296,917 Feb-2014 and may-2014 (ii) fev-2024 6.450 1,588,729 3,417,741 Oct-2017 (ii) jan-2023 3.500 – 593,964 Oct-2017 (i) jan-2028 4.500 6,249,333 6,695,263 Nov-2019 (i) jan-2030 4.500 7,936,089 8,527,701 Nov-2019 jan-2050 5.875 4,009,069 4,287,829 Jul-2020 (iii) jan-2081 8.500 3,296,027 3,503,583 Total 26,124,158 30,322,998 (i) Prepayments were made in 2021 in the total amount of R$1.3 billion. In September 2022, a portion of the bonds was repurchased for R$83.8 million. (ii) Prepayments were made between 2019 and 2022 in the total amount of R$4.6 billion. The bond maturing in January 2023 was fully settled in June 2022. In February 2023, a prepayment was made of the total amount of the bond due in February 2024. (iii) The bond can be repaid by the Company at par value, with the first payment between October 2025 and January 2026 and the other payments after each period of 5 years as from the first payment. |
Schedule of others | Schedule of others Issue date Maturity Charges (% per year) 2022 2021 nov-2018 (i) nov-2028 Us dollar exchange variation + semianual Libor + 0.90 929,112 1,154,146 dec-2019 (i) dec-2029 Us dollar exchange variation + semianual Libor + 0.90 549,610 670,124 dec-2019 (ii) apr-2026 Us dollar exchange variation + semianual Libor - 1.00 197,209 266,403 sep-2017 (iii) mar-2027 Us dollar exchange variation + semianual Libor + 1.61 357,488 462,490 jul-2018 (iv) dec-2028 Us dollar exchange variation + semianual Libor + 0.65 757,832 947,898 aug-2020 (iii) feb-2031 Us dollar exchange variation + semianual Libor + 1.70 1,007,067 1,201,998 aug-2020 (v) aug-2028 to jun-2029 Euro exchange variation + interest between 2.40 and 7.41 79,698 nov-2020 (v) no maturity Euro exchange variation + Euribor monthly + 4.10 2,149 3,880,165 4,703,059 (i) Credit facility contracted by the subsidiaries Braskem Holanda Finance and Braskem Holanda Inc. secured by SACE, an Italian export credit agency, and guarantee from Braskem. (ii) Credit facility contracted by Braskem S.A. with a term of 7 years and guarantee of its own assets. (iii) Credit facility contracted by the subsidiaries Braskem Holanda Finance and Braskem Holanda Inc, secured by NEXI, the Japanese export credit agency, and guarantee from Braskem. (iv) Credit facility contracted by the subsidiary Braskem America, secured by Euler Hermes, the German export credit agency in the maximum amount of R$1,174 million. (v) Credit facility contracted by the indirect subsidiary ER Plastics B.V., with guarantee of its own assets and of Braskem in the proportion of its ownership interest. |
Schedule of others - CRA | Schedule of others - CRA Issue amount Issue date Issuer Series Maturity Charges (% per year) 2022 2021 Jan-2022 581,602 Braskem S.A. 1ª Dec-2028 IPCA + 5.54% 616,025 - Jan-2022 139,134 Braskem S.A. 2ª Dec-2031 IPCA + 5.57% 147,371 - Total 720,736 763,396 |
Braskem Idesa Borrowings (Table
Braskem Idesa Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Borrowings [abstract] | |
Schedule of braskem idesa financing | Schedule of braskem idesa financing Identification Maturity Charges (% per year) 2022 2021 Bonds Bond I nov-2029 Us dollar exchange variation + 7.45 (i) 4,690,619 5,104,463 Bond II feb-2032 Us dollar exchange variation + 6.99 (ii) 6,352,864 6,834,805 11,043,483 11,939,268 Others (a) Oct-2026 Us dollar exchange variation + quarterly Libor + 4.00 (iii) 734,837 849,859 Transactions costs (408,002) (477,592) Total 11,370,318 12,311,535 Current liabilities 868,635 86,765 Non-current liabilities 10,501,683 12,224,770 Total 11,370,318 12,311,535 (i) Unsecured Bond, considers the same guarantees (property, plant and equipment) of Bond II. (ii) Sustainability-linked bonds. The bonds due in 10 years have an interest rate of 6.99% p.a., which may be increased by up to 0.37% p.a. if certain conditions are not met. The Braskem Idesa pledged as guarantee property, plant and equipment assets in the same value as the bond. (iii) For this financing, fixed assets and other rights (such as shares and receivables) were granted as collateral. (a) Regarding this financing, on December 22, 2022 Braskem Idesa obtained the waiver related to a leverage ratio (covenant) until June 30, 2023. In this sense, even though Braskem Idesa is not in default and creditors did not request to accelerate this debt, because the waiver did not cover at least 12 months, the entire balance, in the amount of R$649,560, was reclassified from non-current liabilities to current liabilities on December 31, 2022. |
Schedule of long-term maturities of these financing | Schedule of long-term maturities of these financing 2022 2021 2023 - 67,649 2024 - 68,694 2025 - 69,530 2026 - 408,445 2029 4,337,567 4,900,399 2032 6,164,116 6,710,053 Total 10,501,683 12,224,770 |
Debentures (Tables)
Debentures (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debentures Abstract | |
Schedule of debentures | Schedule of debentures Annual Issue date Issuer Series Maturity financial charges (%) 2022 2021 mar-2013 (i) DAC Only mar-2025 IPCA + 6% 109,877 150,352 sep-2013 (i) Cetrel Only Sep-2025 126.5% of CDI 34,604 47,109 may-2022 Braskem 1ª may-2029 CDI + 1,75 770,910 - may-2022 Braskem 2ª may-2030 to 2032 CDI + 2,00 248,970 - aug-2022 (i) Braskem Only aug-2029 CDI + 1,75 786,770 - nov-2022 Braskem 1ª nov-2029 CDI + 1,70 1,113,987 - nov-2022 Braskem 2ª nov-2030 to 2032 CDI + 1,95 97,159 - Transactions costs (10,802) (543) 3,151,475 196,918 Current liabilities 127,801 59,088 Non-current liabilities 3,023,674 137,830 Total 3,151,475 196,918 (i) These debentures were secured by mandatory deposits as disclosed in Note 6. |
Schedule of long-term debenture maturity | Schedule of long-term debenture maturity 2022 2021 2023 - 57,045 2024 58,550 57,096 2025 24,059 23,689 2029 2,600,998 - 2030 113,291 - 2031 113,360 - 2032 113,416 - Total 3,023,674 137,830 |
Reconciliation of borrowing a_2
Reconciliation of borrowing activities in the statement of cash flow (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Reconciliation Of Borrowing Activities In Statement Of Cash Flow | |
Schedule of reconciliation of borrowing activities in the statement of cash flow | Schedule of reconciliation of borrowing activities in the statement of cash flow Borrowings, debentures and Braskem Idesa financing Total Non-controlling borrowings Braskem Idesa shareholders Borrowings Debentures and debentures financing of Braskem Idesa Lease Dividends Balances at December 31, 2021 34,897,260 196,918 35,094,178 12,311,535 3,646,538 3,156,414 10,538 Acquired 3,479,224 2,938,984 6,418,208 - - - Payments (3,753,427) (102,235) (3,855,662) (45,311) (34,122) (928,890) (1,350,293) Cash used in financing activities (274,203) 2,836,749 2,562,546 (45,311) (34,122) (928,890) (1,350,293) Other changes Interest paid (1,880,611) (34,548) (1,915,159) (752,489) (16,212) (221,019) - Interest and monetary and exchange variations, net 1,524,983 152,356 1,677,339 170,180 (47,784) 83,871 - VAT on loan (75,640) New contracts 2,232,043 Disposal (12,568) Additions through acquisition of ER Plastics 99,702 99,702 - 4,264 - Currency translation adjustments (1,801,871) (1,801,871) (313,597) (84,720) (73,585) Fair value of financial transactions of non-controlling subsidiaries (889,967) Additional dividends approved in the board meeting - - 1,350,000 Additional dividends of subsidiary - - 1,236 Other - - (474) (2,057,797) 117,808 (1,939,989) (895,906) (1,114,323) 2,013,006 1,350,762 Balances at December 31, 2022 32,565,260 3,151,475 35,716,735 11,370,318 2,498,093 4,240,530 11,007 Current 1,254,550 127,801 1,382,351 868,635 1,039,706 11,007 (i) No Current 31,310,710 3,023,674 34,334,384 10,501,683 2,498,093 3,200,824 Total 32,565,260 3,151,475 35,716,735 11,370,318 2,498,093 4,240,530 11,007 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments | |
Schedule of non-derivative financial instruments and other liabilities | Schedule of non-derivative financial instruments and other liabilities Fair value Book value Fair value Note Classification by category hierarchy 2022 2021 2022 2021 Cash and cash equivalents 5 Cash and banks Amortized cost 6,074,208 5,050,822 6,074,208 5,050,822 Financial investments in Brazil Fair value through profit or loss Level 2 6,392,266 3,629,864 6,392,266 3,629,864 12,466,474 8,680,686 12,466,474 8,680,686 Financial investments 6 LFT´s and LF´s Fair value through profit or loss Level 2 1,789,375 2,337,171 1,789,375 2,337,171 Time deposit investments Amortized cost - 106,271 - 106,271 Other Fair value through profit or loss Level 2 523,256 1,066,113 523,256 1,066,113 2,312,631 3,509,555 2,312,631 3,509,555 Trade accounts receivable 7 Amortized cost 3,199,223 7,118,452 3,199,223 7,118,452 Trade accounts receivable 7 Fair value through other comprehensive income Level 2 32,711 48,508 32,711 48,508 Trade payables 15 Amortized cost 12,249,851 12,164,730 12,249,851 12,164,730 Borrowings 16 Amortized cost Foreign currency - Bond Level 1 26,124,158 30,322,998 23,165,942 33,690,876 Foreign currency - other borrowings Level 2 5,394,816 4,703,059 5,329,174 4,696,970 Local currency Level 2 1,521,011 465,258 1,937,255 451,899 33,039,985 35,491,315 30,432,371 38,839,745 Braskem Idesa borrowings 17 Amortized cost Bond Level 1 11,043,483 11,939,268 8,301,948 12,197,524 Others Level 2 734,837 849,859 796,510 931,141 11,778,320 12,789,127 9,098,458 13,128,665 Debentures 18 Amortized cost Level 2 3,162,277 196,918 3,190,417 195,570 Loan ton non-controlling 9(a) Amortized cost 2,498,093 3,646,538 2,498,093 3,646,538 Leniency agreement 25 Amortized cost 903,140 1,123,296 903,140 1,123,296 |
Schedule of changes in derivative financial instruments | Schedule of changes in derivative financial instruments Operation characteristics Net (Asset)/ Net (Asset)/ Principal exposure Liability Change in Financial Liability Identification Derivatives 2021 fair value settlement 2022 Non-hedge accounting transactions Braksem America - Swap C3/PGP Propane Propene 14,299 (2,158) (12,141) - Braskem Holanda - Swap Nafta/Gasoline Gasoline Naphtha (16,847) (25,733) 26,584 (15,996) Braskem Argentina - Exchange swap Argentine peso Dollar 3 61 (63) 1 (2,545) (27,830) 14,380 (15,995) Hedge accounting transactions Braskem S.A. - Dollar call and put options Real Dollar 85,216 (227,871) 77,285 (65,370) Braskem S.A. - Dollar swap CDI Real Dollar+Fixed rates 502,508 (194,055) (156,740) 151,713 Braskem S.A. - Swap CRA Real Dollar+Fixed rates - (32,828) 10,116 (22,712) 587,724 (454,754) (69,339) 63,631 Derivatives Assets Current assets 33,816 157,906 Non-current assets 51 71,544 Total 33,867 229,450 Liabilities Current liabilities 256,131 195,169 Non-current liabilities 362,915 81,917 Total 619,046 277,086 Net (Asset)/Liability 585,179 47,636 |
Schedule of Fair Value Adjustment | Schedule of Fair Value Adjustment Identification Total nominal Hedge Maturity Fair value, net value R$ (interest rate per year) 2022 2021 Swaps CRA 600,218 3.5388 dec-2028 12,603 - Swaps CRA 141,298 3.3742 dec-2031 10,109 Total 741,516 22,712 - Derivatives Assets Current assets 13,274 - Non-Current assets 49,613 - Total 62,887 - Liabilities Non-Current liabilities 40,175 - Total 40,175 - Net (Asset)/Liability 22,712 - |
Schedule of non-derivative financial liabilities designated to hedge accounting | Schedule of non-derivative financial liabilities designated to hedge accounting Total nominal value US$ R$ 0 2024 288,854 1,507,154 2025 800,000 4,174,160 2028 1,250,000 6,522,125 2029 500,000 2,608,850 2030 800,000 4,174,160 2031 800,000 4,174,160 2032 800,000 4,174,160 Total nominal value 5,238,854 27,334,769 |
Schedule of financial instruments designated for hedge | Schedule of financial instruments designated for hedge US$ 2021 Designations 2022 Designated balance 4,738,854 500,000 5,238,854 |
Schedule of exchange variation | Schedule of exchange variation Conversion rate Total nominal at Inception Closing rate Gross nominal value US$ R$/US$ R$/US$ value - R$ First quarter 175,000 2.0017 3.9786 345,958 Second quarter 208,000 2.0017 3.9786 411,195 Third quarter 186,000 2.0017 3.9786 367,703 Fourth quarter 150,000 2.0017 3.9786 296,535 719,000 1,421,391 |
Schedule of changes in foreign exchange variation and income tax and social contribution | Schedule of changes in foreign exchange variation and income tax and social contribution Exchange Net variation IR and CSL effect Balances at December 31, 2021 (13,102,558) 4,454,869 (8,647,689) Exchange variation recorded in the period / IR and CSL 1,699,906 (577,968) 1,121,938 Exchange variation transferred to profit or loss / IR and CSL 1,421,391 (483,273) 938,118 Balances at December 31, 2022 (9,981,261) 3,393,628 (6,587,633) |
Schedule of designated and unrealized sales | Schedule of designated and unrealized sales Nominal value 2023 65,221 2024 117,398 2025 117,398 2026 430,460 2030 1,173,983 2031 1,173,983 2032 2,739,293 2033 2,739,293 2034 1,565,310 2035 1,565,310 Nominal value 11,687,649 |
Schedule of exchange variation - Braskem Idesa | Schedule of exchange variation - Braskem Idesa Conversion rate Total nominal at Inception Closing rate Total nominal Gross nominal value US$ MXN/US$ MXN/US$ value MXN value - R$ First quarter 29,136 13.6218 20.2827 194,072 49,302 Second quarter 72,612 13.6507 20.1297 470,453 116,361 Third quarter 72,612 13.6507 20.1297 470,453 120,341 Fourth quarter 78,844 13.6521 20.1224 510,144 137,999 253,204 1,645,123 424,003 |
Schedule of changes in foreign exchange variation and income tax and social contribution - Braskem Idesa | Schedule of changes in foreign exchange variation and income tax and social contribution - Braskem Idesa Exchange Net variation IR and CSL effect Balances at December 31, 2021 (2,231,511) 670,192 (1,561,319) Exchange variation recorded in the period / IR 699,677 (209,903) 489,774 Exchange variation transferred to profit or loss / IR 424,003 (127,201) 296,802 Balances at December 31, 2022 (1,107,831) 333,088 (774,743) |
Schedule of trade accounts receivable by credit ratings | Schedule of trade accounts receivable by credit ratings (%) 2022 2021 1 Minimal Risk 72.15 65.39 2 Low Risk 21.65 26.65 3 Medium Risk 3.36 6.02 4 High Risk 2.56 1.54 5 Very High Risk (i) 0.28 0.40 (i) Clients in this group that are still active buy from Braskem and pay in advance. |
Schedule of financial assets with and without risk assessment | Schedule of financial assets with and without risk assessment 2022 2021 Domestic market Foreign market Total Domestic market Foreign market Total Financial assets with risk classification AAA 5,130,140 2,420,741 7,550,881 4,080,884 2,783,151 6,864,035 AA+ 162,650 - 162,650 109,165 - 109,165 AA 289,574 107,545 397,119 188,742 629,671 818,413 AA- 149,178 - 149,178 63,675 - 63,675 A+ 3,423 4,459,700 4,463,123 5,788 2,914,269 2,920,057 A 57,650 1,392,854 1,450,504 107,225 - 107,225 A- - 387,478 387,478 634 236,335 236,969 BBB+ 118 375 493 856 38 894 BBB 788 52,389 53,177 129 1,026,104 1,026,233 BBB- - 554 - 554 BB+ - 50 - 50 BB - - 1,479 - 1,479 BB- 7 7 5,793,521 8,821,089 14,614,610 4,559,181 7,589,568 12,148,749 Financial assets without risk classification Shares of investment funds - - 1,721 - 1,721 Other financial assets (i) 83,070 81,425 164,495 25,989 13,782 39,771 83,070 81,425 164,495 27,710 13,782 41,492 Total 5,876,591 8,902,514 14,779,105 4,586,891 7,603,350 12,190,241 (i) Investments approved by the Management, in accordance with the Financial Policy. |
The sensitivity values in the table below are the changes in the value of the financial instruments in each scenario | The sensitivity values in the table below are the changes in the value of the financial instruments in each scenario Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity Note as December 31, 2022 (USDBRL 5.27) (USDBRL 5.93) (USDBRL 7.35) Brazilian real/U.S. dollar exchange rate Bonds (37,167,641) (372,553) (5,051,899) (15,155,696) Export prepayments (1,028,473) (10,309) (139,792) (419,376) Investments (1,985,932) (19,906) (269,932) (809,795) SACE 16(c.i) (1,478,722) (14,822) (200,991) (602,973) Dollar call and put options (i) 65,370 9,809 (160,742) (1,023,396) Dollar swap x CDI (151,713) (6,216) (189,181) (466,381) MONFORTE 16(c.ii) (197,209) (1,977) (26,805) (80,415) Nexi 16(c.iii.iv) (100,707) (1,009) (13,688) (41,065) Other (734,837) (7,366) (99,881) (299,642) Financial investments abroad 6,718,183 67,340 913,149 2,739,446 Dollar swap x IPCA 22,713 (607) (63,356) (194,841) Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2022 (5.58%) (7.89%) (14.13%) Libor floating interest rate Export prepayments (35,749) (887) (3,388) (10,163) Nexi 16(c.iii.iv) (100,707) (3,920) (14,970) (44,909) SACE 16(c.i) (1,478,722) (49,107) (187,520) (562,560) MONFORTE 16(c.ii) (197,209) (4,094) (15,635) (46,906) Investments (1,985,932) (63,201) (241,339) (724,017) Outros (734,837) (16,887) (64,483) (193,449) Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2022 (12.25%) (17.6%) (25.31%) CDI interest rate Debentures (3,052,400) 302,796 (898,725) (3,331,635) Financial investments in local currency 5,876,590 (80,242) 206,257 619,489 Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2022 (5.31%) (6.72%) (8.35%) IPCA interest rate Debentures (109,877) 1,494 (2,085) (6,315) BNDES (386,534) 26,403 (38,283) (121,208) BNB/ FINEP/ FUNDES/FINISA/FINAME/FNE (3,525) 59 (83) (252) CRA (763,396) 45,429 (65,630) (206,889) Dollar swap x IPCA 22,713 (99,748) 31,958 99,871 Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2022 (12.25%) (17.6%) (25.31%) Selic interest rate Leniency agreement (865,311) 6,856 (17,443) (51,656) Gain (losses) Exposure value Probable Reasonably possible Possible Instrument / Sensitivity as December 31, 2022 (4.59%) (10.58%) (22.57%) Selic interest rate Export prepayments (992,725) (25,698) (195,867) (587,602) Export credit notes (521,926) (13,571) (103,435) (310,306) (i) The Company is in the short position of a possible counterparty call. |
Taxes payable (Tables)
Taxes payable (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Taxes Payable | |
Schedule of taxes payable | Schedule of taxes payable 2022 2021 Brazil IPI 74,219 131,290 ICMS 218,179 485,302 PIS and Cofins 20,406 33,516 Other 103,549 46,117 Other countries Value-added tax 150,260 229,571 Tax on financial income 222,464 346,817 Total 789,077 1,272,613 Current liabilities 491,051 1,012,116 Non-current liabilities 298,026 260,497 Total 789,077 1,272,613 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Taxes | |
Schedule of income tax and social contribution reconciliation | Schedule of income tax and social contribution reconciliation 2022 2021 2020 Profit (loss) before income taxes 47,344 17,961,023 (9,683,784) Nominal income taxes computed based on Brazilian statutory corporate tax rates (34%) (16,097) (6,106,748) 3,292,487 Permanent adjustments to income taxes calculation basis Income taxes on equity in results of investees 11,849 1,578 6,595 Thin capitalization (i) (359,598) (6,628) (695,741) Tax benefits (Sudene and PAT) - 137,338 - Reduction of tax loss 22.1(c) (891,669) - Effect of the refund of Braskem America´s tax benefit (737,841) Different jurisdictional taxes rates for companies abroad and tax basis (ii) 1,029,618 1,980,358 994,811 Effect from the retrospective tax rate on bonus depreciation of Braskem America - 334,460 Taxes on dividends distribution (454,663) (265,454) (131,240) Exclusion of inflation adjustement by Selic on undue tax payments from taxable income 22.1(a) 39,395 501,382 Other permanent adjustments (226,570) (241,229) (395,053) Effect of income taxes on results of operations (867,735) (3,999,403) 2,668,478 Breakdown of income taxes Current income taxes Current year (1,003,705) (3,834,437) (52,830) Total current expenses (1,003,705) (3,834,437) (52,830) Deferred income taxes Origination and reversal of temporary differences 1,192,438 (246,294) 2,677,328 Tax losses (1,056,468) 81,328 43,980 Total Deferred income taxes 135,970 (164,966) 2,721,308 Total (867,735) (3,999,403) 2,668,478 Effective rate (iii) 1832.8% 22.3% 27.6% (i) Includes the amount from the adjustment of interest rates in financial operations with subsidiaries in accordance with sub-capitalization tax rules. (ii) Besides the differences on tax basis calculation, it includes the impact from the difference between Brazilian tax rate (34%) and the tax rates in countries where the subsidiaries abroad are located, as follows: |
Schedule of changes in balances of deferred tax assets and liabilities | Schedule of foreign income tax rates Income tax rate (%) Headquarters (Country) 2022 Braskem Alemanha Germany 31.09 Braskem America and Braskem America Finance USA 21.00 Braskem Argentina Argentina 25.00 Braskem Chile Chile 27.00 Braskem Holanda, Braskem Holanda Finance, Braskem Holanda Inc, B&TC and ER Plastics Netherlands 25.80 Braskem Idesa, Braskem Idesa Serviços, Braskem México Braskem México Serviços, Braskem México Proyectos and Terminal Química Mexico 30.00 Braskem India India 30.00 (iii) The effects presented in the reconciliation of the effective rate, in relation to the profit before taxes of R$47,344, resulted in an effective rate of 1,832.8%, the main effect is described in Note 22.1(c). 22.2 Deferred income taxes Deferred income taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax assets are recognized for unused tax losses and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be used. Future taxable profits are determined based on the reversal of relevant taxable temporary differences. If the amount of taxable temporary differences is insufficient to recognize a deferred tax asset in full, then future taxable profits, adjusted for reversals of existing temporary differences, are considered, based on the business plans for the Company. The measurement of deferred taxes reflects the tax consequences that would follow from how the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities. Annually, the Company revises its projection of taxable income based on its Business Plan. The Business Plan is prepared annually by the Executive Board, and its main variables include projections for the prices of the products produced by the Company, the prices of raw materials, the growth in gross domestic product of each country in which the Company operates, exchange rate variation, interest rates, inflation rates and fluctuations in supply and demand for inputs and finished goods. In evaluating the plan, the Company uses its historical performance, strategic planning and market projections produced by third party consulting firms, which are reviewed and supplemented based on Management´s experience. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of future taxable profits improves. Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be used. Deferred tax assets and liabilities are offset only if certain criteria are met. (a) Movement in deferred tax balances Schedule of changes in balances of deferred tax assets and liabilities Assets As of December 31, 2020 Impact on the P&L Other As of December 31, 2021 Impact on the P&L Other As of December 31, 2022 Tax losses (IR) and negative base (CSL) 3,278,184 76,532 3,354,716 (957,184) 2,397,532 Goodwill amortized 6,520 (4,061) 2,459 (364) 2,095 Exchange variations 3,817,615 696,849 (234,402) 4,280,062 611,838 (1,549,020) 3,342,880 Temporary adjustments 4,996,337 (214,060) 4,782,277 (134,745) 4,647,532 Business combination 56,211 (29,327) 26,884 (26,884) 0 Tax credits (i) 77,032 (77,032) 0 697,662 697,662 Other 45,366 72,523 117,889 (1,197) 116,692 12,277,265 521,424 (234,402) 12,564,287 189,126 (1,549,020) 11,204,393 Liabilities Amortization of goodwill based on future profitability 722,222 2,875 725,097 (2,664) 722,433 Tax depreciation 3,737,169 439,781 4,176,950 (125,488) 4,051,462 PIS/COFINS credit - exclusion of ICMS from the calculation basis 0 331,479 331,479 (141,830) 189,649 Temporary adjustments 158,232 (69,239) 88,993 331,322 420,315 Present value adjustments and amortized cost 79,920 74,771 154,691 7,906 261,354 423,951 Amortization of fair value adjustments on the assets from the acquisiton of Braskem Qpar 279,321 (46,888) 232,433 (45,796) 186,637 Other 4,827 (46,389) 46,388 4,826 29,706 (29,706) 4,826 4,981,691 686,390 46,388 5,714,469 53,156 231,648 5,999,273 Net 7,295,574 (164,966) (280,790) 6,849,818 135,970 (1,780,668) 5,205,120 Presentation in the balance sheet: Non-current assets 8,529,972 8,257,252 6,358,601 (-) Non-current liabilities 1,234,398 1,407,434 1,153,481 (i) Tax credits refer to the income tax paid by subsidiaries abroad, to be used by Braskem S.A. in the coming years. |
Schedule of changes in balances of deferred tax assets and liabilities | Schedule of changes in balances of deferred tax assets and liabilities Assets As of December 31, 2020 Impact on the P&L Other As of December 31, 2021 Impact on the P&L Other As of December 31, 2022 Tax losses (IR) and negative base (CSL) 3,278,184 76,532 3,354,716 (957,184) 2,397,532 Goodwill amortized 6,520 (4,061) 2,459 (364) 2,095 Exchange variations 3,817,615 696,849 (234,402) 4,280,062 611,838 (1,549,020) 3,342,880 Temporary adjustments 4,996,337 (214,060) 4,782,277 (134,745) 4,647,532 Business combination 56,211 (29,327) 26,884 (26,884) 0 Tax credits (i) 77,032 (77,032) 0 697,662 697,662 Other 45,366 72,523 117,889 (1,197) 116,692 12,277,265 521,424 (234,402) 12,564,287 189,126 (1,549,020) 11,204,393 Liabilities Amortization of goodwill based on future profitability 722,222 2,875 725,097 (2,664) 722,433 Tax depreciation 3,737,169 439,781 4,176,950 (125,488) 4,051,462 PIS/COFINS credit - exclusion of ICMS from the calculation basis 0 331,479 331,479 (141,830) 189,649 Temporary adjustments 158,232 (69,239) 88,993 331,322 420,315 Present value adjustments and amortized cost 79,920 74,771 154,691 7,906 261,354 423,951 Amortization of fair value adjustments on the assets from the acquisiton of Braskem Qpar 279,321 (46,888) 232,433 (45,796) 186,637 Other 4,827 (46,389) 46,388 4,826 29,706 (29,706) 4,826 4,981,691 686,390 46,388 5,714,469 53,156 231,648 5,999,273 Net 7,295,574 (164,966) (280,790) 6,849,818 135,970 (1,780,668) 5,205,120 Presentation in the balance sheet: Non-current assets 8,529,972 8,257,252 6,358,601 (-) Non-current liabilities 1,234,398 1,407,434 1,153,481 (i) Tax credits refer to the income tax paid by subsidiaries abroad, to be used by Braskem S.A. in the coming years. |
Schedule of deferred taxes offset for the purpose of presentation in the balance sheet | Schedule of deferred taxes offset for the purpose of presentation in the balance sheet 2022 2021 Headquarters (Country) Tax calculation Offsetting Balance Tax calculation Offsetting Balance Assets Braskem S.A. Brazil 8,356,402 (2,584,962) 5,771,440 8,841,886 (2,496,637) 6,345,249 Braskem Argentina Argentina 21,339 (16,174) 5,165 3,271 - 3,271 Braskem America USA 356,598 (356,598) - 294,328 (294,328) - Braskem Alemanha Germany 23,038 - 23,038 44,417 - 44,417 Braskem Chile Chile 47 47 92 92 Braskem Holanda Netherlands 195,042 (39,696) 155,346 - Braskem Idesa Mexico 2,078,206 (1,840,669) 237,537 3,282,125 (1,506,541) 1,775,584 Braskem Idesa Serviços Mexico - - - 26 - 26 Braskem México Serviços Mexico 13,628 13,628 2,502 2,502 Braskem México Mexico 86,368 86,368 16,181 16,181 Cetrel Brazil 39,387 (5,405) 33,982 40,434 (7,586) 32,848 DAC Brazil 32,617 (2,262) 30,355 39,025 (1,943) 37,082 Terminal Química Mexico 1,618 1,618 Voqen Brazil 103 (26) 77 11,204,393 (5,001,138) 6,358,601 12,564,287 (4,307,035) 8,257,252 Liabilities Braskem S.A. Brazil 2,584,962 (2,584,962) - 2,496,637 (2,496,637) - Braskem America USA 1,493,471 (356,598) 1,136,873 1,701,762 (294,328) 1,407,434 Braskem Argentina Chile 16,174 (16,174) - - Braskem Holanda Netherlands 39,696 (39,696) - - Braskem Idesa Mexico 1,840,669 (1,840,669) - 1,506,541 (1,506,541) - B&TC Netherlands 16,608 16,608 - Cetrel Brazil 5,405 (5,405) - 7,586 (7,586) - DAC Brazil 2,262 (2,262) - 1,943 (1,943) - Voqen Brazil 26 (26) - - 5,999,273 (4,845,792) 1,153,481 5,714,469 (4,307,035) 1,407,434 |
Sundry provisions (Tables)
Sundry provisions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Sundry Provisions | |
Schedule of sundry provisions | Schedule of sundry provisions 2022 2021 Provision for environmental damages 1,120,188 1,035,426 Provision for customers rebates 126,754 101,253 Other 130,005 152,584 Total 1,376,947 1,289,263 Current liabilities 530,814 465,051 Non-current liabilities 846,133 824,212 Total 1,376,947 1,289,263 |
Schedule of changes in sundry provisions | Schedule of changes in sundry provisions Recovery of environmental damage Rebate Other Total December 31, 2020 602,490 123,465 148,253 874,208 Additions, monetary adjustments and exchange variation 576,086 144,710 114,395 835,191 Payments and reversals (143,150) (166,922) (110,064) (420,136) - December 31, 2021 1,035,426 101,253 152,584 1,289,263 Additions, monetary adjustments and exchange variation 299,241 184,142 19,777 503,161 Payments and reversals (214,479) (158,641) (42,357) (415,477) - December 31, 2022 1,120,188 126,754 130,005 1,376,947 |
Provisions for legal proceedi_2
Provisions for legal proceedings and contingent liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Provisions For Legal Proceedings And Contingent Liabilities | |
Claims with probable chance of loss and contingent liabilities | Claims with probable chance of loss and contingent liabilities - 2022 2021 Labor claims (a) 212,657 268,758 Tax claims (b) IR and CSL 51,756 61,946 PIS and COFINS 311,433 299,202 ICMS 348,544 331,094 Other tax claims 24,160 22,857 735,893 715,099 Corporate claims 103,387 94,826 Civil claims and other 119,561 75,147 1,171,498 1,153,830 |
Schedule of changes in claims with probable chance of loss | Schedule of changes in claims with probable chance of loss Civil claims Labor claims Tax claims claims and other Total December 31, 2020 280,066 692,735 126,057 52,229 1,151,087 Additions, inflation adjustments and exchange variation 172,574 46,849 14,357 76,111 309,891 Payments (70,968) (3,659) (40,109) (2,770) (117,506) Reversals (*) (112,914) (20,826) (5,479) (50,423) (189,642) December 31, 2021 268,758 715,099 94,826 75,147 1,153,830 Additions, monetary adjustments and exchange variation 128,682 60,627 9,048 76,227 274,584 Payments (57,750) (8,792) - (3,243) (69,785) Reversals (*) (127,033) (31,041) (487) (28,570) (187,131) - December 31, 2022 212,657 735,893 103,387 119,561 1,171,498 (*) A provision reversal occurs when the probability of loss or the value attributed to the lawsuit changes, or the suit is closed with a cash disbursement lower than the provisioned amount. |
Schedule of claims with probable chance of loss | Schedule of claims with probable chance of loss Note 2022 2021 Tax claims (a) 18,270,680 17,224,429 Civil claims - Alagoas 26 5,489,479 2,614,344 Civil claims - Other (b) 786,441 737,083 Labor claims (c) 605,546 763,555 Environmental claims (d) 639,880 571,057 Social security claims (e) 515,506 398,783 Other lawsuits (f) 380,862 337,807 Total 26,688,394 22,647,058 |
Leniency agreement with autho_2
Leniency agreement with authorities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Leniency Agreement With Authorities | |
Schedule of Company already has paid distributed as shown below: | Schedule of Company already has paid distributed as shown below: AGU Agreements signed with: . CGU and MPF DoJ (i) OAG (i) MPF SEC (i) Total Amounts paid 877,763 296,591 407,300 1,282,464 206,460 3,070,578 (i) U.S. Department of Justice ("DoJ"); Swiss Office of the Attorney General ("OAG") and U.S. Securities Exchange Commission ("SEC"). |
Geological event - Alagoas (Tab
Geological event - Alagoas (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Geological Event - Alagoas | |
Schedule of following table shows the changes in the provision in the period | Schedule of following table shows the changes in the provision in the period 2022 2021 2020 Balance at the beginning of the year 7,661,259 9,175,777 3,383,067 Additions 1,520,019 1,339,765 6,901,827 Payments and reclassifications (*) (2,742,791) (2,928,081) (1,181,931) Realization of present value adjusment 188,071 73,798 72,814 Balance at the end of the year 6,626,558 7,661,259 9,175,777 Current liability 4,247,609 4,378,071 4,349,931 Non-current liability 2,378,949 3,283,188 4,825,846 Total 6,626,558 7,661,259 9,175,777 (*) Of this amount, R$2,532,138 (2021: R$2,739,686) refers to payments made and R$210,653 (2021: R$188,395) was reclassified to other accounts payable. |
Benefits offered to employees (
Benefits offered to employees (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Benefits Offered To Employees | |
Schedule of short-term benefits | Schedule of short-term benefits 2022 2021 2020 Health care 243,620 235,681 197,683 Private pension 127,954 136,851 94,302 Transport 86,217 77,201 66,752 Feeding 62,786 51,240 38,400 Life insurance 10,400 10,324 9,875 Training 27,032 15,723 14,892 Other 16,027 12,546 14,117 574,036 539,566 436,021 |
Schedule of Long-term incentive plan | Schedule of Long-term incentive plan Flat Grant Date End of Grace Period Settlement Method Granted quantities (-) Canceled (-) Qty. on 12/31/2021 (+) Granted (-) Canceled (-) Qty. on 12/31/2022 Fair value of the share* 2019 Plan 03/19/19 03/19/22 Shares 417,234 (71,905) - 345,329 - (18,802) (326,527) - 2019 Plan 03/19/19 03/19/22 Cash 82,128 (8,433) - 73,695 - (1,297) (72,398) - 2020 Plan 04/01/20 04/01/23 Shares 1,007,883 (72,743) (2,373) 932,767 - - - 932,767 R$ 16.27 2020 Plan 04/01/20 04/01/23 Cash 314,333 (47,943) - 266,390 - - - 266,390 USD 9.67 2021 Plan 05/10/21 05/10/24 Shares 557,888 (9,598) - 548,290 - - - 548,290 R$ 51.39 2021 Plan 05/10/21 05/10/24 Cash 144,779 - - 144,779 - - - 144,779 USD 9.67 2022 Plan 05/17/22 05/17/25 Shares - - - - 537,870 - - 537,870 R$ 44.15 2022 Plan 05/17/22 05/17/25 Cash - - - - 132,902 - - 132,902 USD 9.67 (*) Values in monetary units. |
Schedule of defined benefit obligations | Schedule of defined benefit obligations 2022 2021 Defined benefit Novamont Braskem America 58,221 117,509 Braskem Idesa 23,053 22,960 Braskem Alemanha and Netherlands 147,562 223,193 228,836 363,662 Health care Bradesco saúde 321,520 243,706 Total obligations 550,356 607,368 Fair value of plan assets Novamont Braskem America (54,665) (117,509) Braskem Alemanha (1,948) (2,162) (56,613) (119,671) Consolidated net balance (non-current liabilities) 493,743 487,697 |
Change in obligations | Change in obligations 2022 2021 2020 Health Benefit Health Benefit Health Benefit insurance plans Total insurance plans Total insurance plans Total Balance at beginning of year 243,706 363,662 607,368 217,089 370,860 587,949 224,852 245,565 470,417 Current service cost 4,928 12,732 17,660 4,817 13,681 18,498 4,678 12,486 17,164 Interest cost 20,200 6,914 27,114 15,692 5,906 21,598 17,097 6,482 23,579 Benefits paid (12,639) (34,208) (46,847) (10,712) (7,191) (17,903) (5,949) (7,409) (13,358) Actuarial losses (gain) 65,325 (83,485) (18,160) 16,820 (26,668) (9,848) (23,589) 25,803 2,214 Exchange variation (36,779) (36,779) 7,074 7,074 - 87,933 87,933 Balance at the end of the year 321,520 228,836 550,356 243,706 363,662 607,368 217,089 370,860 587,949 |
Change in fair value plan assets | Change in fair value plan assets 2022 2021 2020 Balance at beginning of year 119,671 115,875 81,342 Actual return on plan assets (25,929) 722 15,791 Benefits paid (32,264) (5,301) (4,973) Exchange variation (4,866) 8,375 23,715 Balance at the end of the year 56,613 119,671 115,875 |
Amounts recognized in profit and loss | Amounts recognized in profit and loss 2022 2021 2020 Health Benefit Health Benefit Health Benefit insurance plans Total insurance plans Total insurance plans Total - Current service cost 4,928 12,732 17,660 4,817 13,681 18,498 4,678 12,486 17,164 Interest cost 20,200 6,914 27,114 15,692 5,906 21,598 17,097 6,482 23,579 Actuarial (losses) gains (83,485) (83,485) (24,203) (24,203) - 15,461 15,461 25,128 (63,839) (38,711) 20,509 (4,616) 15,893 21,775 34,429 56,204 |
Schedule of Actuarial assumptions | Schedule of Actuarial assumptions (%) 2022 2021 2020 Health United Health United Health United insurance States Mexico Germany Netherlands insurance States Mexico Germany Netherlands insurance States Mexico Germany Netherlands Discount rate 5.97 5.10 8.00 1.20 3.60 5.33 2.90 8.00 1.20 1.20 3.99 2.60 7.25 0.70 0.70 Inflation rate 3.00 n/a 4.00 2.00 2.00 3.00 n/a 4.00 2.00 2.00 3.25 n/a 4.00 2.00 2.00 Expected return on plan assets n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Rate of increase in future salary levels n/a n/a 5.00 3.00 3.25 n/a n/a 5.00 3.00 3.00 n/a n/a 5.00 3.00 3.00 Rate of increase in future pension plan n/a n/a n/a 1.75 2.25 n/a n/a n/a 1.75 1.75 n/a n/a n/a 1.75 1.75 Aging factor 2.50 n/a n/a n/a n/a 2.50 n/a n/a n/a n/a 2.50 n/a n/a n/a n/a Medical inflation 3.50 n/a n/a n/a n/a 3.50 n/a n/a n/a n/a 3.50 n/a n/a n/a n/a Duration 12.83 n/a n/a n/a n/a 14.16 n/a n/a n/a n/a 14.99 n/a n/a n/a n/a |
Sensitivity analysis | Sensitivity analysis Impact on the defined benefit obligation Premise change Premise increase Premise reduction Health United Health United Health United insurance States Mexico Germany Netherlands insurance States Mexico Germany Netherlands insurance States Mexico Germany Netherlands Discount rate 1.0 1.0 1.0 0.25 0.25 32,758 5,536 1,646 5,477 297 (39,621) (6,605) (1,935) (5,836) (315) Real medical inflation n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Rate of increase in future salary levels n/a n/a n/a 0.5 0.5 n/a n/a n/a 8,604 468 n/a n/a n/a (8,114) (442) Rate of increase in future pension plan 1.0 n/a n/a 0.25 0.25 (7,740) n/a n/a 4,241 231 8,098 n/a n/a (4,115) (224) Life expectancy 1.0 n/a n/a 1 1 48,527 n/a n/a 3,637 198 (39,355) n/a n/a (3,797) (207) Mortality rate n/a 10.0 n/a n/a n/a n/a 1,681 n/a n/a n/a n/a (1,839) n/a n/a n/a Health insurance - Impact on cost of services and interests costs Premise change Premise increase Premise reduction Cost of Iterests Cost of Iterests Cost of Iterests services costs services costs services costs Discount rate 1.0 1.0 730 106 (933) 11 Life expectancy 1.0 1.0 542 4,441 (464) (3,602) Rate of increase in future pension plan 1.0 1.0 123 708 (129) (741) |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Shareholders' equity | |
Schedule of shares distributed | Schedule of shares distributed Amount of shares Common Preferred shares Preferred shares shares % class A % class B % Total % Novonor 226,334,623 50.11 79,182,498 22.95 - - 305,517,121 38.32 Petrobras 212,426,952 47.03 75,761,739 21.96 - - 288,188,691 36.15 ADR (i) - - 42,869,320 12.42 - - 42,869,320 5.38 Other 12,907,077 2.86 146,581,427 42.48 478,790 100.00 159,967,294 20.07 Total 451,668,652 100.00 344,394,984 99.81 478,790 100.00 796,542,426 99.92 Treasury shares - - 665,408 0.19 - - 665,408 0.08 Total 451,668,652 100.00 345,060,392 100.00 478,790 100.00 797,207,834 100.00 Authorised 535,661,731 616,682,421 593,818 1,152,937,970 (i) American Depository Receipt |
Schedule of Changes in shares during the year | Schedule of Changes in shares during the year Amount of shares Note 2020 Changes 2021 Changes 2022 Outstanding shares Commom shares 451,668,652 - 451,668,652 - 451,668,652 Preferred Class A 28.4 343,824,794 333,432 344,158,226 236,758 344,394,984 Preferred Class B 500,230 (21,440) 478,790 - 478,790 795,993,676 311,992 796,305,668 236,758 796,542,426 Treasury shares Preferred Class A 28.4 1,224,878 (322,712) 902,166 (236,758) 665,408 Total 797,218,554 (10,720) 797,207,834 - 797,207,834 |
Schedule of Accumulated losses | Schedule of Accumulated losses 2022 Loss for the year of the Company's shareholders (335,677) Amounts posted directly to the Retained Earnings account: SUDENE tax incentive supplement (108,975) Comprehensive income 26,883 Other 475 (417,294) Loss absorption using profit reserve: Profit reserves - Retention of profits 417,294 417,294 |
Earnings (loss) per share (Tabl
Earnings (loss) per share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Earnings Loss Per Share | |
Schedule of reconciliation of profit or loss | Schedule of reconciliation of profit or loss 2022 2021 2020 Basic Diluted Basic Diluted Basic Diluted (Loss) profit for the year attributed to Company's shareholders (335,677) (335,677) 13,984,946 13,984,946 (6,691,720) (6,691,720) Distribution of priority dividends attributable to: Preferred shares class "A" - - 208,574 208,574 - - Preferred shares class "B" - - 290 290 - - - - 208,864 208,864 - - Distribution of 6% of unit price of common shares - - 273,729 273,729 - - Distribution of excess profits, by class: Common shares - - 7,664,208 7,664,208 - - Preferred shares class "A" - - 5,838,145 5,838,145 - - - - 13,502,353 13,502,353 - - Reconciliation of income available for distribution, Common shares (190,357) (190,357) 7,937,937 7,937,937 (3,797,070) (3,797,071) Preferred shares class "A" (145,118) (145,118) 6,046,719 6,046,719 (2,890,445) (2,890,444) Preferred shares class "B" (202) (202) 290 290 (4,205) (4,205) (335,677) (335,677) 13,984,946 13,984,946 (6,691,720) (6,691,720) Weighted average number of shares, Common shares 451,668,652 451,668,652 451,668,652 451,668,652 451,668,652 451,668,652 Preferred shares class "A" 344,329,470 344,329,470 344,054,700 345,049,701 343,823,811 345,049,672 Preferred shares class "B" 478,790 478,790 500,171 500,171 500,230 500,230 796,476,912 796,476,912 796,223,523 797,218,524 795,992,693 797,218,554 Profit (loss) per share (in R$) Common shares (0.42) (0.42) 17.57 17.57 (8.41) (8.41) Preferred shares class "A" (0.42) (0.42) 17.57 17.52 (8.41) (8.38) Preferred shares class "B" (0.42) (0.42) 0.58 0.58 (8.41) (8.41) Weighing of shares 2022 Basic Preferred shares Class "A" Outstanding Weighted shares average Amount at beginning of the year 344,158,226 344,158,226 Incentive long term plan payments with treasury shares 236,758 171,244 Amount at the end of the year 344,394,984 344,329,470 2021 Basic Preferred shares Class "A" Class "B" Outstanding Weighted Outstanding Weighted shares average shares average Amount at beginning of the year 343,824,794 343,824,794 500,230 500,230 Incentive long term plan payments with treasury shares 322,712 229,877 - - Conversion shares class "B" into shares class "A" 10,720 29 (21,440) (59) Amount at the end of the year 344,158,226 344,054,700 478,790 500,171 2020 Basic Preferred shares Class "A" Outstanding Weighted shares average Amount at beginning of year 343,823,073 343,823,073 Incentive long term plan payments with treasury shares 1,721 738 Amount at the end of the year 343,824,794 343,823,811 |
Net revenue (Tables)
Net revenue (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Net Revenue | |
Schedule of sales and service revenue | Schedule of sales and service revenue 2022 2021 2020 96,519,284 105,625,201 58,543,494 |
Schedule of revenue by country | Schedule of revenue by country 2022 2021 2020 Brazil 56,217,472 55,830,330 32,369,199 United States 18,085,607 24,232,413 10,848,609 Mexico 4,468,827 5,505,893 2,765,815 Argentina 2,092,700 2,068,023 1,267,967 Germany 1,695,009 1,912,373 1,106,877 Switzerland 1,492,922 1,230,541 633,512 Italy 1,095,133 1,304,113 811,787 Chile 870,858 1,230,493 544,329 Netherlands 816,678 642,844 432,897 Luxembourg 756,297 987,656 592,777 Singapore 755,971 1,175,133 1,183,838 Peru 740,011 666,867 471,847 Japan 723,757 1,162,226 618,940 Spain 546,646 517,532 282,362 United Kingdom 490,801 585,766 204,953 Uruguay 469,555 495,120 405,946 Poland 455,458 649,825 285,714 Bolivia 427,237 296,138 190,447 Sweden 401,251 481,289 310,984 Canada 393,504 558,730 297,756 France 359,946 326,570 247,062 Paraguay 316,460 318,842 254,255 Colombia 263,695 274,335 174,381 China 172,656 354,071 496,920 South Korea 159,944 669,055 360,704 Other 2,250,890 2,149,023 1,383,616 96,519,284 105,625,201 58,543,494 |
Schedule of revenue by product | Schedule of revenue by product 2022 2021 2020 PE/PP 61,145,093 73,306,089 41,137,288 Benzene, toluene and xylene 7,279,584 5,819,696 3,051,752 Ethylene, Propylene 5,819,345 6,872,999 3,600,276 ETBE/Gasoline 5,722,767 4,321,371 2,170,289 PVC/Caustic Soda/EDC 5,710,838 5,806,011 3,134,617 Butadiene 3,028,048 3,019,836 1,372,428 Solvents 1,522,025 1,129,484 654,793 Cumene 1,425,097 1,342,811 636,635 Naphtha, condensate and crude oil 422,359 1,648,581 915,807 Other 4,444,130 2,358,324 1,869,609 96,519,284 105,625,201 58,543,494 |
Expenses by nature and functi_2
Expenses by nature and function (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Expenses By Nature And Function | |
Schedule of Expenses by nature and function | Schedule of Expenses by nature and function 2022 2021 2020 Classification by nature: Raw materials other inputs (73,181,706) (63,570,499) (37,913,921) Personnel expenses (3,223,477) (3,478,323) (3,074,305) Outsourced services (3,411,818) (3,193,970) (2,219,413) Depreciation and amortization (4,733,165) (4,178,433) (4,048,081) Freights (4,034,901) (2,966,229) (2,321,740) Idle industrial plants (414,441) (338,987) (518,528) Provision - geological event in Alagoas (Note 26) (1,520,019) (1,339,765) (6,901,828) PIS and Cofins credits - exclusion of ICMS from the calculation basis 1,031,099 310,557 Other income 507,333 1,843,153 440,192 Other general and administrative expenses (2,269,865) (3,394,344) (2,348,921) Total (92,282,059) (79,586,298) (58,595,988) Classification by function: Cost of products sold (85,160,548) (73,568,231) (47,331,414) Selling and distribution (2,108,417) (2,055,640) (1,852,055) (Loss) reversals for impairment of trade accounts receivable (38,426) (8,914) (55,252) General and administrative (2,763,983) (2,522,127) (1,918,747) Research and development (374,493) (296,583) (250,648) Other income (i) 507,333 1,534,487 750,749 Other expenses (ii) (2,343,525) (2,669,290) (7,938,621) Total (92,282,059) (79,586,298) (58,595,988) (i) In 2021 and 2020, refers mainly to the final and unappealable decision of lawsuits claiming the exclusion of ICMS from PIS/COFINS calculation base totaling R$1,031,099 and R$310,557, respectively. In 2022, lawsuits with favorable decisions for Braskem claiming the recovery of taxes in the amount of R$123,202, and financial penalty on the feedstock supply agreement in the amount of R$119,576. (ii) Mainly refers to provisions for Alagoas in the amount of R$1,520,019 (2021: R$1,339,765 and 2020: R$6,901,828), provisions for reparation of environmental damages in the amount of R$238,700 (2021: R$588,110 and 2020: R$306,275) and financial penalties on sale agreements in the amount of R$22,453 (2021: R$344,902 and 2020: R$4,008). |
Financial results (Tables)
Financial results (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Results | |
Schedule of results by segment | Schedule of results by segment 2022 2021 2020 Financial income Interest income 1,049,745 439,891 310,202 Inflation indexation income on tax assets (i) 16,489 1,041,917 170,857 Gain on derivatives 635,779 246,459 - Other 308,121 99,171 119,125 2,010,134 1,827,438 600,184 Financial expenses Interest expenses (3,125,206) (2,922,958) (2,928,803) Inflation indexation expenses on tax liabilities (266,281) (93,722) (138,410) Discounts granted (129,249) (75,677) (81,920) Loans transaction costs - amortization (260,511) (691,243) (172,269) Adjustment to present value - appropriation (580,994) (179,461) (225,889) Interest expense on leases (203,257) (173,536) (164,166) Losses on derivatives (596,501) (1,003,502) (809,150) Other (500,694) (767,056) (392,758) (5,662,693) (5,907,155) (4,913,365) Exchange rate variations, net On financial assets (522,251) 230,370 336,527 On financial liabilities (49,919) (4,233,177) (5,635,238) (572,170) (4,002,807) (5,298,711) Total (4,224,729) (8,082,524) (9,611,892) (i) In 2021, R$990,877 refers to the inflation adjustment of lawsuits with final and unappealable decisions related to ICMS exclusion from PIS/COFINS calculation basis (Note 10.b). |
Schedule of effects from exchange variation on the Company?transactions are mainly due to the variations | Schedule of effects from exchange variation on the Companyàtransactions are mainly due to the variations End of year rate Average rate Variation 2022 2021 Variation 2022 2021 Dec/20 2022-2021 2021-2020 U.S. dollar - Brazilian real 5.2177 5.5805 -6.50 5.1655 5.3956 5.1578 -4.26 4.61 Euro - Brazilian real 5.5694 6.3210 -11.89 5.4420 6.3784 5.8989 -14.68 8.13 Mexican peso - Brazilian real 0.2667 0.2730 -2.31 0.2569 0.2660 0.2402 -3.44 10.75 U.S. dollar - Mexican peso 19.5720 20.4519 -4.30 20.1249 20.2900 21.5098 -0.81 -5.67 U.S. dollar - Euro 0.9416 0.8853 6.36 0.9510 0.8458 0.8775 12.44 -3.61 |
Segment information (Tables)
Segment information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Segment Information | |
Schedule of Results by segment | Schedule of Results by segment 2022 Operating expenses Cost of Selling, general Results from Other operating Profit (loss) Net products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 69,079,724 (63,195,629) 5,884,095 (1,853,039) - (1,888,999) 2,142,057 USA and Europe 23,421,096 (19,986,176) 3,434,920 (838,474) - 56,944 2,653,390 Mexico 5,834,017 (5,069,531) 764,486 (451,605) - (33,370) 279,511 Total 98,334,837 (88,251,336) 10,083,501 (3,143,118) - (1,865,425) 5,074,958 Other segments 402,991 (262,402) 140,589 82,498 34,848 5,644 263,579 Corporate unit - - - (2,196,506) - 19,375 (2,177,131) Braskem consolidated before 98,737,828 (88,513,738) 10,224,090 (5,257,126) 34,848 (1,840,406) 3,161,406 Eliminations and reclassifications (2,218,544) 3,353,190 1,134,646 (28,193) - 4,214 1,110,667 Total 96,519,284 (85,160,548) 11,358,736 (5,285,319) 34,848 (1,836,192) 4,272,073 2021 Operating expenses Cost of Selling, general Results from Other operating Profit (loss) Net products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 69,494,923 (49,309,552) 20,185,371 (1,608,185) - (2,210,601) 16,366,585 USA and Europe 32,403,632 (23,343,205) 9,060,427 (900,885) - (25,580) 8,133,962 Mexico 6,506,297 (3,413,652) 3,092,645 (471,821) - (15,302) 2,605,522 Total 108,404,852 (76,066,409) 32,338,443 (2,980,891) - (2,251,483) 27,106,069 Other segments 363,684 (233,084) 130,600 76,830 4,644 (28,674) 183,400 Corporate unit - - - (1,963,137) - 1,161,517 (i) (801,620) Braskem consolidated before 108,768,536 (76,299,493) 32,469,043 (4,867,198) 4,644 (1,118,640) 26,487,849 Eliminations and reclassifications (3,143,335) 2,731,262 (412,073) (16,066) - (16,163) (444,302) Total 105,625,201 (73,568,231) 32,056,970 (4,883,264) 4,644 (1,134,803) 26,043,547 2020 Operating expenses Cost of Selling, general Results from Other operating Profit (loss) Net products Gross and distribuition equity income before net financial revenue sold profit expenses investments (expenses), net expenses and taxes Reporting segments Brazil 40,794,387 (32,498,003) 8,296,384 (1,471,722) - (7,082,604) (257,942) USA and Europe 14,638,660 (12,337,486) 2,301,174 (721,191) - (82,695) 1,497,288 Mexico 4,000,805 (3,075,001) 925,804 (436,859) - (364,259) 124,686 Total 59,433,852 (47,910,490) 11,523,362 (2,629,772) - (7,529,558) 1,364,032 Other segments 302,374 (188,350) 114,024 63,874 (19,398) (320) 158,180 Corporate unit - - - (1,493,479) - 359,071 (1,134,408) Braskem consolidated before 59,736,226 (48,098,840) 11,637,386 (4,059,377) (19,398) (7,170,807) 387,804 Eliminations and reclassifications (1,192,732) 767,426 (425,306) (17,325) - (17,065) (459,696) Total 58,543,494 (47,331,414) 11,212,080 (4,076,702) (19,398) (7,187,872) (71,892) |
Schedule of property, plant and equipment and intangible assets by segment | Schedule of property, plant and equipment and intangible assets by segment 2022 2021 Reporting segments Brazil 19,428,926 18,072,312 USA and Europe 7,075,743 7,688,713 Mexico 13,736,298 14,019,167 Total 40,240,967 39,780,192 Unallocated amounts 544,472 322,237 Total 40,785,439 40,102,429 |
Operations (Details Narrative)
Operations (Details Narrative) R$ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 BRL (R$) | Jun. 30, 2022 | Dec. 31, 2022 Number | |
IfrsStatementLineItems [Line Items] | ||||
Number of barrels | 30,000 | |||
Made payment | $ 56 | R$ 292 | ||
Odebrecht s a member | ||||
IfrsStatementLineItems [Line Items] | ||||
Proportion of ownership interest | 50.11% | |||
Proportion of voting rights | 38.32% | |||
Braskem Idesa [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Proportion of ownership interest | 50% | |||
Braskem Idesa One [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Proportion of ownership interest | 50% | 50% |
Basis of preparation of the f_4
Basis of preparation of the financial statements (Details) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Subsidiary1 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | BM Insurance Company Limited ("BM Insurance") | |||
Headquarters | Bermuda | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary2 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Argentina S.A. (“Braskem Argentina”) | |||
Headquarters | Argentina | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary3 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | [1] | Braskem Energy Ltda. | ||
Headquarters | [1] | Brazil | ||
Total voting interest | [1] | 100% | ||
Subsidiary4 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Finance Limited (“Braskem Finance”) | |||
Headquarters | Cayman Islands | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary5 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Green S.A. | |||
Headquarters | Brazil | |||
Total voting interest | 100% | 100% | ||
Subsidiary6 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Incorporated Limited ("Braskem Inc.") | |||
Headquarters | Cayman Islands | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary7 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Mexico, S. de RL de C.V. ("Braskem México") | |||
Headquarters | Mexico | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary8 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Netherlands B.V. ("Braskem Holanda") | |||
Headquarters | Netherlands | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary9 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Petroquímica Chile Ltda. (“Braskem Chile”) | |||
Headquarters | Chile | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary 10 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | [2] | Braskem Ventures Ltda. ("Braskem Ventures") | ||
Subsidiary101 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Headquarters | [2] | Brazil | ||
Total voting interest | [2] | 100% | ||
Subsidiary11 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | [3] | Lantana Trading Co. Inc. (“Lantana”) | ||
Headquarters | [3] | Bahamas | ||
Total voting interest | [3] | 100% | 100% | |
Subsidiary12 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | [1] | Voqen Energia Ltda. ("Voqen") | ||
Headquarters | [1] | Brazil | ||
Total voting interest | [1] | 100% | ||
Subsidiary13 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem America Finance Company ("Braskem America Finance") | |||
Headquarters | USA | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary14 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem America, Inc. (“Braskem America”) | |||
Headquarters | USA | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary15 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Europe GmbH ("Braskem Alemanha") | |||
Headquarters | Germany | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary16 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Idesa S.A.P.I. ("Braskem Idesa") | |||
Headquarters | Mexico | |||
Total voting interest | 75% | 75% | 75% | |
Subsidiary17 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Idesa Servicios S.A. de C.V. ("Braskem Idesa Serviços") | |||
Headquarters | Mexico | |||
Total voting interest | 75% | 75% | 75% | |
Subsidiary18 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem India Private Limited ("Braskem India") | |||
Headquarters | India | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary19 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Mexico Proyectos S.A. de C.V. SOFOM ("Braskem México Sofom") | |||
Headquarters | Mexico | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary20 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Mexico Servicios S. RL de C.V. ("Braskem México Serviços") | |||
Headquarters | Mexico | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary21 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Netherlands Finance B.V. (“Braskem Holanda Finance”) | |||
Headquarters | Netherlands | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary22 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Netherlands Green B.V. (“Braskem Holanda Green”) | |||
Headquarters | Netherlands | |||
Total voting interest | 100% | 100% | ||
Subsidiary 23 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Braskem Netherlands Inc. B.V. (“Braskem Holanda Inc.”) | |||
Headquarters | Netherlands | |||
Total voting interest | 100% | 100% | 100% | |
Subsidiary 24 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | [2] | Builder Brasil Ltda. ("Builder Brasil") | ||
Headquarters | [2] | Brazil | ||
Total voting interest | [2] | 100% | ||
Subsidiary 25 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | [2] | Builder USA LLC. ("Builder USA") | ||
Headquarters | [2] | USA | ||
Total voting interest | [2] | 100% | ||
Subsidiary 26 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Cetrel S.A. ("Cetrel") | |||
Headquarters | Brazil | |||
Total voting interest | 63.70% | 63.70% | 63.70% | |
Subsidiary 27 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Distribuidora de Água Camaçari S.A. ("DAC") | |||
Headquarters | Brazil | |||
Total voting interest | 63.70% | 63.70% | 63.70% | |
Subsidiary 28 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | [4] | B&TC B.V. ("B&TC") | ||
Headquarters | [4] | Netherlands | ||
Total voting interest | [4] | 60% | ||
Subsidiary 29 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | [4] | ER Plastics B.V. ("ER Plastics") | ||
Headquarters | [4] | Netherlands | ||
Total voting interest | [4] | 60% | ||
Subsidiary 30 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Subsidiary/Special Purpose Entity name | Terminal Química Puerto México ("Terminal Química") | |||
Headquarters | Mexico | |||
Total voting interest | 75% | 75% | ||
Specific purpose entity1 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Headquarters | Brazil | |||
Total voting interest | 100% | 100% | 100% | |
Specific purpose entity2 member | ||||
IfrsStatementLineItems [Line Items] | ||||
Headquarters | Brazil | |||
Total voting interest | 100% | 100% | 100% | |
[1]Voqen was incorporated in 2022 and began its operations in September 2022. Its main activities include power and natural gas trading and services rendered, as well as representation in the Free Energy Contracting Environment. In July 2022, Braskem Energy Ltda., which was 100% held by Braskem, was merged into Voqen at book value.[2]Braskem Ventures, Builder Brasil and Builder USA: entities incorporated between May 2022 and June 2022 and are part of the Oxygea group, whose purpose is to foster the creation and development of new business initiatives.[3]Lantana was a non-operational entity that had the operations closed in November 2022.[4] B&TC and ER Plastics: In August 2022, Braskem Holanda acquired 60% interest in B&TC, which holds 100% of the shares of ER Plastics, which undertakes mechanical recycling of mixed plastic waste into compression molded products (boards for use in construction and pallets). |
Basis of preparation of the f_5
Basis of preparation of the financial statements (Details 1) | 12 Months Ended |
Dec. 31, 2022 | |
Braskem alemanha member | |
IfrsStatementLineItems [Line Items] | |
Functional currency | Euro |
B m insurance braskem america braskem america finance braskem holanda braskem holanda finance braskem holanda inc and braskem mexico sofom member | |
IfrsStatementLineItems [Line Items] | |
Functional currency | U.S.dollar ("US$") |
Braskem idesa braskem idesa servicos braskem mexico and braskem mexico servicos member | |
IfrsStatementLineItems [Line Items] | |
Functional currency | Mexican peso |
Braskem argentina member | |
IfrsStatementLineItems [Line Items] | |
Functional currency | Argentinean peso |
Braskem chile member | |
IfrsStatementLineItems [Line Items] | |
Functional currency | Chilenean peso |
Braskem india member | |
IfrsStatementLineItems [Line Items] | |
Functional currency | Rupee |
Risk management (Details)
Risk management (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
IfrsStatementLineItems [Line Items] | |||
Derivatives | R$ 277086 | R$ 619046 | |
Lease | 4,240,530 | R$ 3156414 | R$ 3207886 |
Liquidity risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade payables | 12,413,301 | ||
Borrowings | 66,056,686 | ||
Debentures | 6,406,217 | ||
Braskem Idesa borrowings | 18,271,523 | ||
Derivatives | 286,190 | ||
Loan to noncontrolling shareholders | 4,391,832 | ||
Leniency agreement (Note 25) | 1,092,958 | ||
Lease | 4,983,177 | ||
Total | 113,901,884 | ||
Liquidity risk [member] | Not later than one year [member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade payables | 3,069 | ||
Borrowings | 3,139,258 | ||
Debentures | 102,090 | ||
Derivatives | 5,691 | ||
Leniency agreement (Note 25) | 658,154 | ||
Lease | 855,803 | ||
Total | 4,764,065 | ||
Liquidity risk [member] | Later than one year and not later than two years [member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings | 3,931,315 | ||
Lease | 581,592 | ||
Total | 4,512,907 | ||
Liquidity risk [member] | Later than two years and not later than five years [member] | Early paymentdebt member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings | 57,625,391 | ||
Debentures | 6,167,985 | ||
Braskem Idesa borrowings | 17,274,826 | ||
Derivatives | 88,273 | ||
Loan to noncontrolling shareholders | 4,391,832 | ||
Lease | 2,436,734 | ||
Total | 87,985,041 | ||
Carrying Amount One [Member] | Liquidity risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade payables | 12,410,232 | ||
Borrowings | 1,360,722 | ||
Debentures | 136,142 | ||
Braskem Idesa borrowings | 996,697 | ||
Derivatives | 192,226 | ||
Leniency agreement (Note 25) | 434,804 | ||
Lease | 1,109,048 | ||
Total | R$ 16639871 |
Cash and cash equivalents (Deta
Cash and cash equivalents (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IfrsStatementLineItems [Line Items] | |||||
Total | R$ 12466474 | R$ 8680686 | R$ 13862852 | R$ 6803880 | |
Domestic market member | |||||
IfrsStatementLineItems [Line Items] | |||||
Cash | 517,236 | 676,083 | |||
Cash equivalents | 3,684,999 | 1,141,221 | |||
Foreign market member | |||||
IfrsStatementLineItems [Line Items] | |||||
Cash | [1] | 5,556,972 | 4,374,739 | ||
Cash equivalents | [1] | 2,707,267 | 2,488,643 | ||
Foreign market member | Braskem Idesa [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Cash | 931,991 | 1,267,582 | |||
Cash equivalents | R$ 1252341 | R$ 505749 | |||
[1] On December 31, 2022, it includes R$ 931,991 of cash and R$ 1,252,341 of cash equivalents (2021: R$ 1,267,582 505,749 |
Financial investments (Details)
Financial investments (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
IfrsStatementLineItems [Line Items] | |||
Total | R$ 2312631 | R$ 3509555 | |
Current assets | 2,295,497 | 3,492,710 | |
Non current assets | 17,134 | 16,845 | |
Financial assets at amortised cost, class [member] | Time deposit investments member | |||
IfrsStatementLineItems [Line Items] | |||
Total | 106,271 | ||
Financial assets at fair value through profit or loss, category [member] | L f t and l f member | |||
IfrsStatementLineItems [Line Items] | |||
Total | [1] | 1,789,375 | 2,337,171 |
Financial assets at fair value through profit or loss, category [member] | Restricted funds investments member | |||
IfrsStatementLineItems [Line Items] | |||
Total | [2] | 305,485 | 852,362 |
Financial assets at fair value through profit or loss, category [member] | Restricted funds investments member | Interbank deposit rate member | |||
IfrsStatementLineItems [Line Items] | |||
Restricted fund | 175,153 | 835,517 | |
Bank deposits | 130,332 | 16,845 | |
Financial assets at fair value through profit or loss, category [member] | Other financial investments member | |||
IfrsStatementLineItems [Line Items] | |||
Total | R$ 217771 | R$ 213751 | |
[1]These refer to Brazilian floating-rate government bonds ("LFTs") issued by the Brazilian federal government and floating-rate bonds ("LFs") issued by financial institutions.[2] Includes the following amounts: R$ 175,153 835,517 130,332 16,845 |
Financial investments (Details
Financial investments (Details Narrative) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Deposits yields rate | 102.59% | 102.50% |
Financial assets at fair value through profit or loss, category [member] | ||
IfrsStatementLineItems [Line Items] | ||
Deposits yields rate | 1.18% | 0.45% |
Trade accounts receivable (Deta
Trade accounts receivable (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Expected credit losses | [1] | R$ 112091 | R$ 131634 |
Total | 3,231,934 | 7,166,960 | |
Current assets | 3,231,934 | 7,153,565 | |
Non-current assets | 13,395 | ||
Trade accounts receivable, Total | 3,231,934 | 7,166,960 | |
Domestic market member | |||
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable, gross | 1,547,466 | 2,863,941 | |
Foreign market member | |||
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable, gross | 1,796,559 | 4,434,653 | |
Third parties member | Domestic market member | |||
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable, gross | 1,533,675 | 2,851,701 | |
Third parties member | Foreign market member | |||
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable, gross | 1,796,559 | 4,434,653 | |
Related party member | Domestic market member | |||
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable, gross | R$ 13791 | R$ 12240 | |
[1] According to the Management, the Company's Expected Credit Losses ("PCE") are considered sufficient to cover any losses on accounts receivable. To estimate this loss, the Company considers the following criteria: (i) receivables past due and falling due within 90 days, weighted by each client's operational risk; (ii) receivables in renegotiation process; (iv) receivables past due over 180 days; (v) receivables in collection by the courts; and (vi) receivables from clients classified with high operational risk. The table below shows PCE by maturity: |
Trade accounts receivable (De_2
Trade accounts receivable (Details 1) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Total | R$ 3231934 | R$ 7166960 |
Total | (3,231,934) | (7,166,960) |
Trade Accounts Receivables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 3,344,025 | 7,298,594 |
Total | (3,344,025) | (7,298,594) |
Expected Credit Losses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 112,091 | 131,634 |
Total | (112,091) | (131,634) |
Not past due member | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 2,652,844 | 6,692,832 |
Not past due member | Trade Accounts Receivables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 2,687,775 | 6,705,123 |
Not past due member | Expected Credit Losses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | (34,931) | (12,291) |
Not later than ninety days member | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 529,506 | 429,635 |
Not later than ninety days member | Trade Accounts Receivables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 536,289 | 431,899 |
Not later than ninety days member | Expected Credit Losses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | (6,783) | (2,264) |
Later than ninety days and not later than one hundred and eighty days member | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 22,005 | 43,744 |
Later than ninety days and not later than one hundred and eighty days member | Trade Accounts Receivables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 25,015 | 45,134 |
Later than ninety days and not later than one hundred and eighty days member | Expected Credit Losses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | (3,010) | (1,390) |
Later than one hundred and eighty days member | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 27,579 | 749 |
Later than one hundred and eighty days member | Trade Accounts Receivables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | 94,946 | 116,438 |
Later than one hundred and eighty days member | Expected Credit Losses [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Trade accounts receivable, gross | R$ 67367 | R$ 115689 |
Trade accounts receivable (De_3
Trade accounts receivable (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Trade Accounts Receivable | |||
Balance of provision at the beginning of the year | R$ 131634 | R$ 173007 | R$ 229323 |
Provision in the year | (87,898) | (144,888) | (65,571) |
Reversal in the year | 71,400 | 149,681 | 28,563 |
Write-offs | 36,041 | 36,580 | 93,324 |
Balance of provision at the end of the year | R$ 112091 | R$ 131634 | R$ 173007 |
Inventories (Details)
Inventories (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Inventories Abstract | ||
Finished goods | R$ 8558025 | R$ 9271708 |
Semi-finished goods | 663,182 | 568,914 |
Raw materials, production inputs and packaging | 2,747,525 | 3,356,660 |
Maintenance materials | 869,953 | 766,994 |
Advances to suppliers | 124,285 | 62,573 |
Imports in transit | 1,067,094 | 2,308,252 |
Total | R$ 14030064 | R$ 16335101 |
Inventories (Details 1)
Inventories (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Inventories Abstract | ||||
Balance at the beginner of the year | R$ 82218 | R$ 122572 | R$ 82195 | |
Additions | [1] | 533,471 | 97,911 | 120,483 |
Utilization/reversals | (103,583) | (138,265) | (80,106) | |
Balance at the end of the year | R$ 512106 | R$ 82218 | R$ 122572 | |
[1]The increase in the provision refers mainly to the net realizable value of inventories in certain product lines, which is explained by the lower sales prices compared to the values of inventories recorded on the balance sheet due to the current economic scenario. |
Related parties (Details)
Related parties (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable | R$ 3231934 | R$ 7153565 | |
Trade accounts receivable | 13,791 | 12,240 | |
Inventories | 14,030,064 | 16,335,101 | |
Inventories | 61,428 | 9,927 | |
Other receivabels | 11,635 | 287 | |
Other receivabels non current | 5,657 | 38,987 | |
Assets | 88,048,858 | 92,564,368 | |
Assets1 | 96,807 | 61,441 | |
Trade payables | 12,246,782 | 12,053,266 | |
Trade and other current payables1 | 277,967 | 248,435 | |
Other current payables | 1,581,701 | 1,667,600 | |
Other current payables1 | 233,451 | 297,329 | |
Trade payables | 3,069 | ||
Loan to non-controlling shareholders of Braskem Idesa | 2,498,093 | 3,646,538 | |
Total liabilities | 3,012,580 | 4,192,302 | |
Sales of products | 96,519,284 | 105,625,201 | R$ 58543494 |
Purchases of raw materials, finished goods services and utilities | 85,160,548 | 73,568,231 | 47,331,414 |
Financial income (expenses), net | (4,224,729) | (8,082,524) | (9,611,892) |
Other expenses | (1,836,192) | (1,134,803) | (7,187,872) |
Petrobras and subsidiaries [member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable | 11,924 | 4,894 | |
Inventories | 61,428 | 9,927 | |
Other receivabels | 287 | 287 | |
Other receivabels non current | 5,657 | 38,987 | |
Assets | 79,296 | 54,095 | |
Trade payables | 137,764 | 134,063 | |
Other current payables | 233,133 | 296,984 | |
Total liabilities | 370,897 | 431,047 | |
Sales of products | 182,218 | 171,665 | 182,521 |
Purchases of raw materials, finished goods services and utilities | (22,900,140) | (19,833,063) | (14,566,840) |
Financial income (expenses), net | (33,656) | (11,758) | (3,810) |
Other expenses | 51,248 | (217,497) | |
Other related parties [member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade accounts receivable | 1,867 | 7,346 | |
Dividends and interest on capital | 4,296 | ||
Assets | 6,163 | 7,346 | |
Trade payables | 14,189 | 11,113 | |
Other current payables | 314 | 345 | |
Loan to non-controlling shareholders of Braskem Idesa | 2,498,093 | 3,646,538 | |
Total liabilities | 2,512,596 | 3,657,996 | |
Sales of products | 437,514 | 540,855 | 326,825 |
Purchases of raw materials, finished goods services and utilities | (24,813) | (6,953) | (20,350) |
Financial income (expenses), net | 41,082 | (245,819) | (818) |
General and administrative expenses | (45,329) | (67,273) | (46,738) |
Odebrecht and subsidiaries and associates [member] | |||
IfrsStatementLineItems [Line Items] | |||
Other receivabels | 11,348 | ||
Assets | 11,348 | ||
Trade payables | 126,014 | 103,259 | |
Other current payables | 4 | ||
Trade payables | 3,069 | ||
Total liabilities | 129,087 | 103,259 | |
Financial income (expenses), net | (854) | (141) | (452) |
Related parties [member] | |||
IfrsStatementLineItems [Line Items] | |||
Sales of products | 619,732 | 712,520 | 509,346 |
Purchases of raw materials, finished goods services and utilities | (334,363) | (306,426) | (133,127) |
Purchases of raw materials, finished goods services and utilities | (23,259,316) | (20,146,442) | (14,720,317) |
Finance income cost1 | 6,572 | (257,718) | (5,080) |
General and administrative expenses | (45,329) | (67,273) | R$ 46738 |
Other operating income expense1 | R$ 51248 | R$ 217497 |
Related parties (Details 1)
Related parties (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related Parties | |||
Short-term benefits | R$ 83466 | R$ 119734 | R$ 74943 |
Post-employment benefit | 1,636 | 2,121 | 961 |
Long term incentive plan | 16,938 | 14,394 | 7,456 |
Total | R$ 102040 | R$ 136249 | R$ 83360 |
Related parties (Details Narrat
Related parties (Details Narrative) - BRL (R$) R$ in Thousands | 1 Months Ended | 12 Months Ended | |||
Feb. 28, 2022 | Oct. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2022 | |
Novonor And Its Direct And Indirect Subsidiaries [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Estimated amount | R$ 142000 | ||||
Petrobras Transporte S A [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Estimated amount | R$ 203000 | ||||
Petrocoque S A Industria Comercio [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Estimated amount | R$ 433000 | ||||
Refinaria Alberto Pasqualini [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Estimated amount | R$ 630000 | ||||
New or renewedagreements with related companies member | |||||
IfrsStatementLineItems [Line Items] | |||||
Related parties amount | R$ 60000 | ||||
New or renewedagreements with related companies member | Top of range [member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Related parties amount | R$ 20000 | ||||
Agreement With Petrocoque [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Related parties estimated value | 3,300,000 | ||||
Refinaria Duque De Caxias [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Related parties estimated value | 2,400,000 | ||||
Refinaria Henrique Lage [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Related parties estimated value | 4,700,000 | ||||
Refinaria Planaltode Paulinia [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Related parties estimated value | 8,100,000 | ||||
Refinaria Presidente Getulio Vargas [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Related parties estimated value | R$ 6800000 |
Taxes recoverable (Details)
Taxes recoverable (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Receivables from taxes other than income tax | R$ 2774024 | R$ 2680716 |
Current receivables from taxes other than income tax | 1,156,355 | 1,428,658 |
Non-current receivables from taxes other than income tax | 1,617,669 | 1,252,058 |
Value added tax on sales and services i c m s normal pperations member | Parent companys member | ||
IfrsStatementLineItems [Line Items] | ||
Receivables from taxes other than income tax | 410,138 | 291,424 |
I c m s credits from property plant and equipment member | Parent companys member | ||
IfrsStatementLineItems [Line Items] | ||
Receivables from taxes other than income tax | 302,940 | 224,308 |
Social integration program p i s and social contribution on revenue member | Parent companys member | ||
IfrsStatementLineItems [Line Items] | ||
Receivables from taxes other than income tax | 560,002 | 250,491 |
P i s and c o f i n s credits from property plant and equipment member | Parent companys member | ||
IfrsStatementLineItems [Line Items] | ||
Receivables from taxes other than income tax | 546,427 | 447,476 |
R e i n t e g r a program member | Parent companys member | ||
IfrsStatementLineItems [Line Items] | ||
Receivables from taxes other than income tax | 20,504 | 21,764 |
Federal supervenience member | Parent companys member | ||
IfrsStatementLineItems [Line Items] | ||
Receivables from taxes other than income tax | 153,960 | 948,448 |
Other taxes recoverable member | Parent companys member | ||
IfrsStatementLineItems [Line Items] | ||
Receivables from taxes other than income tax | 68,514 | 89,205 |
Other taxes recoverable member | Subsidiaries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Receivables from taxes other than income tax | 131,867 | 59,579 |
Value added tax i v a member | Subsidiaries [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Receivables from taxes other than income tax | R$ 579672 | R$ 348021 |
Taxes recoverable (Details Narr
Taxes recoverable (Details Narrative) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2019 |
IfrsStatementLineItems [Line Items] | |||
Taxes recoverable | R$ 2774024 | R$ 2680716 | |
P i s and c o f i n s taxes member | |||
IfrsStatementLineItems [Line Items] | |||
Taxes recoverable | R$ 5093151 |
Investments (Details)
Investments (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
IfrsStatementLineItems [Line Items] | |||||
Net profit (loss) for the year | R$ 820391 | R$ 13961620 | R$ 7015306 | ||
Equity | 6,108,217 | 6,203,828 | (3,866,518) | R$ 3944706 | |
Investment1 member | |||||
IfrsStatementLineItems [Line Items] | |||||
Net profit (loss) for the year | [1] | 76,450 | 312 | (63,525) | |
Equity | [1] | R$ 110040 | R$ 50064 | ||
Interest in total and voting capital (%) | 33.20% | 33.20% | |||
Investment 2 [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Net profit (loss) for the year | [2] | R$ 3977 | |||
Equity | [2] | 80,757 | |||
Associate member | |||||
IfrsStatementLineItems [Line Items] | |||||
Net profit (loss) for the year | [3] | 53,617 | R$ 45490 | R$ 6019 | |
Equity | [3] | R$ 252053 | R$ 205568 | ||
Interest in total and voting capital (%) | 20% | 20% | |||
[1]RPR's main activities are the refining, processing and sale and import of oil, its byproducts and correlated products. The percentage of Braskem's equity interest in the capital of RPR on December 31, 2022 is 33.20 33.20 The percentage of Braskem's ownership interest in the capital of Borealis on December 31, 2022 is 20 20 |
Investments (Details 1)
Investments (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Balance at 2021 | R$ 58923 | R$ 43153 |
Dividends and interest on equity | (9,309) | (295) |
Equity in results of investees | 34,848 | 9,239 |
Other comprehensive income | (663) | 5,825 |
Other | 255 | 1,001 |
Capital increase | 64,969 | |
Balance at 2022 | 149,023 | 58,923 |
Associate 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Balance at 2021 | 41,113 | 32,272 |
Dividends and interest on equity | (5,013) | (295) |
Equity in results of investees | 11,296 | 9,136 |
Balance at 2022 | 47,396 | 41,113 |
Associate 2 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Balance at 2021 | 16,625 | 10,697 |
Dividends and interest on equity | (4,296) | |
Equity in results of investees | 25,384 | 103 |
Other comprehensive income | (1,174) | 5,825 |
Balance at 2022 | 36,539 | 16,625 |
Associate 3 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Balance at 2021 | ||
Equity in results of investees | (1,832) | |
Other comprehensive income | 1,299 | |
Capital increase | 41,908 | |
Balance at 2022 | 41,375 | |
Associate 4 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Balance at 2021 | 1,185 | 184 |
Other comprehensive income | (788) | |
Other | 255 | 1,001 |
Capital increase | 23,061 | |
Balance at 2022 | R$ 23713 | R$ 1185 |
Investments (Details 2)
Investments (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Curent | |||||
Cash and cash equivalents | R$ 12466474 | R$ 8680686 | R$ 13862852 | R$ 6803880 | |
Financial investments | 2,295,497 | 3,492,710 | |||
Trade accounts receivable | 3,231,934 | 7,153,565 | |||
Inventories | 14,030,064 | 16,335,101 | |||
Taxes recoverable | 1,156,355 | 1,428,658 | |||
Recoverable income taxes | 392,062 | 1,189,812 | |||
Derivatives | 157,906 | 33,816 | |||
Other receivables | 727,364 | 979,097 | |||
Total current assets | 34,457,656 | 39,293,445 | |||
Non-current | |||||
Taxes recoverable | 1,617,669 | 1,252,058 | |||
Other receivables | 170,536 | 365,652 | |||
Property, plant and equipment | 37,763,295 | 37,225,130 | 35,929,149 | ||
Right of use of assets | 3,952,987 | 2,780,037 | 2,902,395 | ||
Total non current assets | 53,591,202 | 53,270,923 | |||
Total assets | 88,048,858 | 92,564,368 | |||
Current | |||||
Trade payables | 12,246,782 | 12,053,266 | |||
Borrowings | 1,254,550 | 1,343,494 | |||
Braskem Idesa Borrowings | 868,635 | 86,765 | |||
Taxes payable | 491,051 | 1,012,116 | |||
Lease | 1,039,706 | 675,366 | |||
Provision - geological event in Alagoas | 4,247,609 | 4,378,071 | |||
Total current liabilities | 24,185,247 | 25,193,523 | |||
Non-current | |||||
Loan to non-controlling shareholders of Braskem Idesa | 2,498,093 | 3,646,538 | |||
Lease | 3,200,824 | 2,481,048 | |||
Other payables | 282,940 | 461,917 | |||
Total non current liabilities | 57,755,394 | 61,167,017 | |||
Shareholders' equity | |||||
Attributable to the Company's shareholders | 7,321,799 | 7,865,819 | |||
Non-controlling interest in subsidiaries | (1,213,582) | (1,661,991) | |||
Total shareholders equity | 6,108,217 | 6,203,828 | (3,866,518) | R$ 3944706 | |
Total liabilities and shareholders' equity | 88,048,858 | 92,564,368 | |||
Net revenue | 96,519,284 | 105,625,201 | 58,543,494 | ||
Cost of products sold | (85,160,548) | (73,568,231) | (47,331,414) | ||
Gross profit | 11,358,736 | 32,056,970 | 11,212,080 | ||
Income (expenses) | |||||
General and administrative | (2,763,983) | (2,522,127) | (1,918,747) | ||
Research and development | (374,493) | (296,583) | (250,648) | ||
Results from equity-accounted investees | (34,848) | (4,644) | 19,398 | ||
Other income | 507,333 | 1,534,487 | 750,749 | ||
Operating profit | 4,272,073 | 26,043,547 | (71,892) | ||
Financial results | |||||
Financial expenses | (5,662,693) | (5,907,155) | (4,913,365) | ||
Financial income | 2,010,134 | 1,827,438 | 600,184 | ||
Exchange rate variations, net | (572,170) | (4,002,807) | (5,298,711) | ||
Finance income (cost) | (4,224,729) | (8,082,524) | (9,611,892) | ||
(Loss) profit before income tax | |||||
and social contribution | 47,344 | 17,961,023 | (9,683,784) | ||
Income taxes | 867,735 | 3,999,403 | (2,668,478) | ||
Adjustments for reconciliation of profit (loss) | |||||
4,733,165 | 4,178,433 | 4,048,081 | |||
(34,848) | (4,644) | 19,398 | |||
2,702,636 | 6,311,431 | 10,457,272 | |||
130,995 | 115,187 | 8,794 | |||
9,507,890 | 29,698,140 | 11,833,122 | |||
Changes in operating working capital | |||||
3,746,107 | |||||
1,530,050 | 296,957 | (1,860,827) | |||
3,661,267 | (2,175,285) | (2,187,826) | |||
2,138,161 | (7,574,285) | (252,534) | |||
682,457 | 4,963,587 | 1,532,554 | |||
310,789 | (198,556) | 690,888 | |||
514,079 | 1,199,614 | (3,001,564) | |||
(1,009,356) | (3,007,488) | 449,761 | |||
317,867 | 389,087 | 349,842 | |||
1,520,019 | 1,339,765 | 6,901,828 | |||
(2,742,791) | (2,928,081) | (1,181,931) | |||
(390,727) | 805,452 | 14,801 | |||
Cash generated from operations | 13,477,365 | 20,376,774 | 9,287,354 | ||
(2,904,879) | (2,883,433) | (2,736,821) | |||
(1,620,747) | (2,706,856) | (257,542) | |||
Net cash generated by operating activities | 8,951,739 | 14,786,485 | 6,292,991 | ||
Proceeds from the sale of fixed assets and intangible assets | 2,438 | 40,353 | 33,140 | ||
Dividends received | 5,660 | 295 | 4,822 | ||
Acquisitions to property, plant and equipment and intangible assets | (4,848,281) | (3,421,324) | (2,759,789) | ||
Net cash used in investing activities | (4,947,273) | (3,380,676) | (2,721,827) | ||
Short-term and long-term debt | |||||
6,418,208 | 16,308 | 13,049,459 | |||
(3,855,662) | (9,413,909) | (8,734,505) | |||
Braskem Idesa borrowings | |||||
7,271,658 | |||||
(45,311) | (7,995,045) | (905,210) | |||
Lease | 928,890 | 841,706 | 662,068 | ||
Dividends paid | (1,350,293) | (5,993,265) | (2,380) | ||
Non-controlling interest in subsidiaries | 21,162 | ||||
Cash generated (used) in financing activities | 225,092 | (16,965,504) | 2,173,222 | ||
Exchange variation on cash of foreign subsidiaries | (443,770) | 377,529 | 1,314,586 | ||
Increase in cash and cash equivalents | 3,785,788 | (5,182,166) | 7,058,972 | ||
Consolidated Braskem Without The Effect Of Braskem Idesa Consolidated [Member] | |||||
Curent | |||||
Cash and cash equivalents | 10,282,142 | 6,907,355 | |||
Financial investments | 2,295,497 | 3,492,710 | |||
Trade accounts receivable | 3,621,335 | 6,607,762 | |||
Inventories | 12,921,617 | 15,325,001 | |||
Taxes recoverable | 905,844 | 1,402,100 | |||
Recoverable income taxes | 392,062 | 1,189,812 | |||
Derivatives | 157,906 | 33,816 | |||
Other receivables | 628,447 | 841,473 | |||
Total current assets | 31,204,850 | 35,800,029 | |||
Non-current | |||||
Taxes recoverable | 1,328,695 | 983,655 | |||
Recoverable income taxes | 252,995 | 230,069 | |||
Deferred tax assets | 6,671,492 | 6,481,642 | |||
Related parties | [1] | 7,250,756 | 10,064,320 | ||
Derivatives | 71,544 | 51 | |||
Judicial deposits | 215,274 | 194,212 | |||
Other receivables | 187,107 | 370,928 | |||
Investments | 149,023 | 58,923 | |||
Property, plant and equipment | [2] | 24,319,015 | 23,510,588 | ||
Intangible | 2,730,124 | 2,572,675 | |||
Right of use of assets | [3] | 3,638,507 | 2,427,633 | ||
Total non current assets | 46,814,532 | 46,894,696 | |||
Total assets | 78,019,382 | 82,694,725 | |||
Current | |||||
Trade payables | 11,418,031 | 11,861,563 | |||
Borrowings | 1,254,550 | 1,343,494 | |||
Debentures | 127,801 | 59,088 | |||
Braskem Idesa Borrowings | |||||
Payroll and related charges | 789,441 | 1,095,040 | |||
Taxes payable | 481,729 | 1,003,813 | |||
Income taxes payable | 381,117 | 1,672,844 | |||
Lease | 955,225 | 598,523 | |||
Provision - geological event in Alagoas | 4,247,609 | 4,378,071 | |||
Other payables | 2,645,828 | 2,495,544 | |||
Total current liabilities | 22,301,331 | 24,507,980 | |||
Non-current | |||||
Loan agreements | 31,310,710 | 33,553,766 | |||
Braskem Idesa Borrowings | |||||
Debentures | 3,023,674 | 137,830 | |||
Accounts payable to related parties | |||||
Loan to non-controlling shareholders of Braskem Idesa | |||||
Deferred tax liabilities | 904,521 | 1,407,434 | |||
Provision for losses on subsidiaries | [4] | 4,094,535 | 5,284,666 | ||
Lease | 2,942,284 | 2,147,745 | |||
Provision - geological event in Alagoas | 2,378,949 | 3,283,188 | |||
Other payables | 3,590,317 | 4,406,733 | |||
Total non current liabilities | 48,244,990 | 50,221,362 | |||
Shareholders' equity | |||||
Attributable to the Company's shareholders | 7,321,798 | 7,865,819 | |||
Non-controlling interest in subsidiaries | 151,263 | 99,564 | |||
Total shareholders equity | 7,473,061 | 7,965,383 | |||
Total liabilities and shareholders' equity | 78,019,382 | 82,694,725 | |||
Net revenue | 93,038,949 | 101,448,155 | 55,779,528 | ||
Cost of products sold | (82,624,987) | (72,471,291) | (45,563,723) | ||
Gross profit | 10,413,962 | 28,976,864 | 10,215,805 | ||
Income (expenses) | |||||
Selling and distribution | (1,890,181) | (1,834,303) | (1,609,844) | ||
(Loss) reversals for impairment of trade accounts receivable | (38,248) | (8,736) | (55,074) | ||
General and administrative | (2,545,044) | (2,292,884) | (1,739,541) | ||
Research and development | (374,493) | (296,583) | (250,648) | ||
Results from equity-accounted investees | (1,078,115) | (82,709) | (1,026,922) | ||
Other income | 505,629 | 1,530,443 | 748,923 | ||
Other expenses | (2,305,411) | (2,651,425) | (7,573,874) | ||
Operating profit | 2,688,099 | 23,340,667 | (1,291,175) | ||
Financial results | |||||
Financial expenses | (5,013,176) | (4,750,895) | (3,851,233) | ||
Financial income | 2,558,268 | 2,276,312 | 1,032,530 | ||
Exchange rate variations, net | (643,377) | (2,884,292) | (4,823,269) | ||
Finance income (cost) | (3,098,285) | (5,358,875) | (7,641,972) | ||
(Loss) profit before income tax | |||||
and social contribution | (410,186) | 17,981,792 | (8,933,147) | ||
Income taxes | 95,651 | (3,991,055) | 2,253,684 | ||
(Loss) net profit for the year | (314,535) | 13,990,737 | (6,679,463) | ||
(Loss) profit before taxes | (410,186) | 18,348,774 | (8,933,147) | ||
Adjustments for reconciliation of profit (loss) | |||||
3,944,259 | 3,432,816 | 2,995,609 | |||
1,078,108 | (78,567) | 1,026,922 | |||
1,788,259 | 3,604,357 | 8,541,980 | |||
370,153 | 819,130 | 336,838 | |||
1,520,019 | 1,339,765 | 6,901,828 | |||
(1,031,099) | (310,557) | ||||
38,426 | 10,134 | 55,252 | |||
130,366 | 114,148 | 8,794 | |||
8,459,404 | 26,559,458 | 10,623,519 | |||
Changes in operating working capital | |||||
3,746,107 | |||||
1,530,050 | 296,957 | (1,860,827) | |||
2,751,788 | (1,739,822) | (2,247,729) | |||
2,246,770 | (7,176,104) | (309,492) | |||
928,181 | 4,958,779 | 1,584,911 | |||
(172,027) | |||||
297,209 | (269,721) | 44,513 | |||
(73,230) | 955,475 | (2,926,585) | |||
(1,085,427) | (2,878,056) | 965,191 | |||
224,764 | |||||
(317,867) | (389,087) | (349,842) | |||
(219,313) | (482,565) | (158,915) | |||
(2,742,791) | (2,928,081) | (1,181,931) | |||
(384,838) | 823,515 | (217,997) | |||
Cash generated from operations | 11,389,936 | 17,730,748 | 7,763,660 | ||
(2,118,043) | (2,207,196) | (1,946,931) | |||
(1,620,616) | (2,697,829) | (252,479) | |||
Net cash generated by operating activities | 7,651,277 | 12,825,723 | 5,564,250 | ||
Proceeds from the sale of fixed assets and intangible assets | 2,438 | 40,353 | 33,140 | ||
Additions to investment in subsidiaries | (107,090) | ||||
Dividends received | 5,660 | 295 | 4,822 | ||
Acquisitions to property, plant and equipment and intangible assets | (4,153,707) | (3,249,132) | (2,653,009) | ||
Net cash used in investing activities | (4,252,699) | (3,208,484) | (2,615,047) | ||
Short-term and long-term debt | |||||
6,418,208 | 16,308 | 13,049,459 | |||
(3,855,662) | (9,413,909) | (8,734,505) | |||
Braskem Idesa borrowings | |||||
Related parts | 216,862 | ||||
Lease | (836,718) | (787,932) | (610,392) | ||
Dividends paid | (1,350,293) | (5,993,265) | (2,380) | ||
Non-controlling interest in subsidiaries | 21,162 | (534,456) | |||
Cash generated (used) in financing activities | 396,697 | (15,961,936) | 3,167,726 | ||
Exchange variation on cash of foreign subsidiaries | (420,488) | 293,633 | 1,054,845 | ||
Increase in cash and cash equivalents | 3,374,787 | (6,051,064) | 7,171,774 | ||
Represented by | |||||
6,907,355 | 12,958,419 | 5,786,645 | |||
10,282,142 | 6,907,355 | 12,958,419 | |||
Braskem Idesa Consolidated [Member] | |||||
Curent | |||||
Cash and cash equivalents | 2,184,332 | 1,773,331 | |||
Financial investments | |||||
Trade accounts receivable | 73,195 | 1,225,479 | |||
Inventories | 1,108,447 | 1,010,100 | |||
Taxes recoverable | 250,511 | 26,558 | |||
Recoverable income taxes | |||||
Derivatives | |||||
Other receivables | 68,544 | 137,624 | |||
Total current assets | 3,685,029 | 4,173,092 | |||
Non-current | |||||
Taxes recoverable | 288,974 | 268,403 | |||
Recoverable income taxes | |||||
Deferred tax assets | 488,116 | 1,775,610 | |||
Related parties | [1] | ||||
Derivatives | |||||
Judicial deposits | |||||
Other receivables | 563 | 24,964 | |||
Investments | |||||
Property, plant and equipment | [2] | 14,126,939 | 14,483,720 | ||
Intangible | 292,020 | 304,624 | |||
Right of use of assets | [3] | 910,900 | 352,404 | ||
Total non current assets | 16,107,512 | 17,209,725 | |||
Total assets | 19,792,541 | 21,382,817 | |||
Current | |||||
Trade payables | 1,291,347 | 871,379 | |||
Borrowings | |||||
Debentures | |||||
Braskem Idesa Borrowings | 868,635 | 86,765 | |||
Payroll and related charges | 38,385 | 75,306 | |||
Taxes payable | 9,322 | 8,303 | |||
Income taxes payable | |||||
Lease | 195,518 | 76,843 | |||
Provision - geological event in Alagoas | |||||
Other payables | 24,283 | 246,623 | |||
Total current liabilities | 2,427,490 | 1,365,219 | |||
Non-current | |||||
Loan agreements | |||||
Braskem Idesa Borrowings | 10,501,683 | 12,224,770 | |||
Debentures | |||||
Accounts payable to related parties | 7,175,837 | 10,134,287 | |||
Loan to non-controlling shareholders of Braskem Idesa | 2,498,093 | 3,646,538 | |||
Deferred tax liabilities | 1,049,967 | ||||
Provision for losses on subsidiaries | [4] | ||||
Lease | 746,285 | 333,303 | |||
Provision - geological event in Alagoas | |||||
Other payables | 97,663 | 25,710 | |||
Total non current liabilities | 22,069,528 | 26,364,608 | |||
Shareholders' equity | |||||
Attributable to the Company's shareholders | (4,704,477) | (6,347,010) | |||
Non-controlling interest in subsidiaries | |||||
Total shareholders equity | (4,704,477) | (6,347,010) | |||
Total liabilities and shareholders' equity | 19,792,541 | 21,382,817 | |||
Net revenue | 5,953,229 | 6,333,199 | 4,046,581 | ||
Cost of products sold | (5,074,693) | (3,321,601) | (3,112,129) | ||
Gross profit | 878,536 | 3,011,598 | 934,452 | ||
Income (expenses) | |||||
Selling and distribution | (218,236) | (221,337) | (242,211) | ||
(Loss) reversals for impairment of trade accounts receivable | (178) | (178) | (178) | ||
General and administrative | (216,098) | (229,334) | (179,350) | ||
Research and development | |||||
Results from equity-accounted investees | 7 | ||||
Other income | 1,704 | 4,044 | 1,826 | ||
Other expenses | (38,114) | (17,865) | (364,747) | ||
Operating profit | 407,621 | 2,546,928 | 149,792 | ||
Financial results | |||||
Financial expenses | (1,817,551) | (1,618,020) | (1,505,628) | ||
Financial income | 610,792 | 12,886 | 11,150 | ||
Exchange rate variations, net | 235,314 | (1,164,697) | (482,125) | ||
Finance income (cost) | (971,445) | (2,769,831) | (1,976,603) | ||
(Loss) profit before income tax | |||||
and social contribution | (563,824) | (222,903) | (1,826,811) | ||
Income taxes | (963,386) | (8,348) | 414,794 | ||
(Loss) net profit for the year | (1,527,210) | (231,251) | (1,412,017) | ||
(Loss) profit before taxes | (563,824) | (222,903) | (1,826,811) | ||
Adjustments for reconciliation of profit (loss) | |||||
901,194 | 796,861 | 1,114,439 | |||
759,378 | 2,564,905 | 1,921,975 | |||
(1,220) | |||||
629 | 1,039 | ||||
1,097,377 | 3,138,682 | 1,209,603 | |||
Changes in operating working capital | |||||
1,126,559 | (619,688) | (152,971) | |||
(108,609) | (398,181) | 56,958 | |||
(245,724) | 4,808 | (52,357) | |||
465,812 | |||||
13,580 | 71,165 | 352,590 | |||
370,229 | 428,364 | 137,895 | |||
76,071 | (129,432) | (515,430) | |||
(25,776) | |||||
(187,274) | 168,371 | 13,560 | |||
(5,889) | (18,063) | 33,810 | |||
Cash generated from operations | 2,136,320 | 2,646,026 | 1,523,694 | ||
(786,836) | (676,237) | (789,890) | |||
(131) | (9,027) | (5,063) | |||
Net cash generated by operating activities | 1,349,353 | 1,960,762 | 728,741 | ||
Proceeds from the sale of fixed assets and intangible assets | |||||
Additions to investment in subsidiaries | |||||
Dividends received | |||||
Acquisitions to property, plant and equipment and intangible assets | (694,574) | (172,192) | (106,780) | ||
Net cash used in investing activities | (694,574) | (172,192) | (106,780) | ||
Short-term and long-term debt | |||||
Braskem Idesa borrowings | |||||
7,271,658 | |||||
(45,311) | (7,995,045) | (905,210) | |||
Related parts | (34,122) | (226,407) | |||
Loan to non-controlling shareholders of Braskem Idesa - payment | (37,618) | ||||
Lease | (141,063) | (53,774) | (51,676) | ||
Dividends paid | |||||
Non-controlling interest in subsidiaries | |||||
Cash generated (used) in financing activities | (220,496) | (1,003,568) | (994,504) | ||
Exchange variation on cash of foreign subsidiaries | (23,282) | 83,896 | 259,741 | ||
Increase in cash and cash equivalents | 411,001 | 868,898 | (112,802) | ||
Represented by | |||||
1,773,331 | 904,433 | 1,017,235 | |||
2,184,332 | 1,773,331 | 904,433 | |||
Eliminations [Member] | |||||
Curent | |||||
Cash and cash equivalents | |||||
Financial investments | |||||
Trade accounts receivable | (462,596) | (679,676) | |||
Inventories | |||||
Taxes recoverable | |||||
Recoverable income taxes | |||||
Derivatives | |||||
Other receivables | 30,373 | ||||
Total current assets | (432,223) | (679,676) | |||
Non-current | |||||
Taxes recoverable | |||||
Recoverable income taxes | |||||
Deferred tax assets | (801,007) | ||||
Related parties | [1] | (7,250,756) | (10,064,320) | ||
Derivatives | |||||
Judicial deposits | |||||
Other receivables | |||||
Investments | |||||
Property, plant and equipment | [2] | (682,659) | (769,178) | ||
Intangible | |||||
Right of use of assets | [3] | (596,420) | |||
Total non current assets | (9,330,842) | (10,833,498) | |||
Total assets | (9,763,065) | (11,513,174) | |||
Current | |||||
Trade payables | (462,596) | (679,676) | |||
Borrowings | |||||
Debentures | |||||
Braskem Idesa Borrowings | |||||
Payroll and related charges | |||||
Taxes payable | |||||
Income taxes payable | |||||
Lease | (111,037) | ||||
Provision - geological event in Alagoas | |||||
Other payables | 30,059 | ||||
Total current liabilities | (543,574) | (679,676) | |||
Non-current | |||||
Loan agreements | |||||
Braskem Idesa Borrowings | |||||
Debentures | |||||
Accounts payable to related parties | (7,175,837) | (10,134,287) | |||
Loan to non-controlling shareholders of Braskem Idesa | |||||
Deferred tax liabilities | (801,007) | ||||
Provision for losses on subsidiaries | [4] | (4,094,535) | (5,284,666) | ||
Lease | (487,745) | ||||
Provision - geological event in Alagoas | |||||
Other payables | |||||
Total non current liabilities | (12,559,124) | (15,418,953) | |||
Shareholders' equity | |||||
Attributable to the Company's shareholders | 4,704,478 | 6,347,010 | |||
Non-controlling interest in subsidiaries | (1,364,845) | (1,761,555) | |||
Total shareholders equity | 3,339,633 | 4,585,455 | |||
Total liabilities and shareholders' equity | (9,763,065) | (11,513,174) | |||
Net revenue | (2,472,894) | (2,156,153) | (1,282,615) | ||
Cost of products sold | 2,539,132 | 2,224,661 | 1,344,438 | ||
Gross profit | 66,238 | 68,508 | 61,823 | ||
Income (expenses) | |||||
Selling and distribution | |||||
(Loss) reversals for impairment of trade accounts receivable | |||||
General and administrative | (2,841) | 91 | 144 | ||
Research and development | |||||
Results from equity-accounted investees | 1,112,956 | 87,353 | 1,007,524 | ||
Other income | |||||
Other expenses | |||||
Operating profit | 1,176,353 | 155,952 | 1,069,491 | ||
Financial results | |||||
Financial expenses | 1,168,034 | 461,760 | 443,496 | ||
Financial income | (1,158,926) | (461,760) | (443,496) | ||
Exchange rate variations, net | (164,107) | 46,182 | 6,683 | ||
Finance income (cost) | (154,999) | 46,182 | 6,683 | ||
(Loss) profit before income tax | |||||
and social contribution | 1,021,354 | 202,134 | 1,076,174 | ||
Income taxes | |||||
(Loss) net profit for the year | 1,021,354 | 202,134 | 1,076,174 | ||
(Loss) profit before taxes | 1,021,354 | (164,848) | 1,076,174 | ||
Adjustments for reconciliation of profit (loss) | |||||
(112,288) | (51,244) | (61,967) | |||
(1,112,956) | 73,923 | (1,007,524) | |||
154,999 | 142,169 | (6,683) | |||
(48,891) | |||||
Changes in operating working capital | |||||
(217,080) | 184,225 | 212,874 | |||
217,080 | (184,225) | (212,874) | |||
Cash generated from operations | (48,891) | ||||
Net cash generated by operating activities | (48,891) | ||||
Proceeds from the sale of fixed assets and intangible assets | |||||
Additions to investment in subsidiaries | |||||
Dividends received | |||||
Acquisitions to property, plant and equipment and intangible assets | |||||
Net cash used in investing activities | |||||
Short-term and long-term debt | |||||
Braskem Idesa borrowings | |||||
Related parts | |||||
Lease | 48,891 | ||||
Dividends paid | |||||
Non-controlling interest in subsidiaries | |||||
Cash generated (used) in financing activities | 48,891 | ||||
Exchange variation on cash of foreign subsidiaries | |||||
Increase in cash and cash equivalents | |||||
Represented by | |||||
Total [Member] | |||||
Curent | |||||
Cash and cash equivalents | 12,466,474 | 8,680,686 | |||
Financial investments | 2,295,497 | 3,492,710 | |||
Trade accounts receivable | 3,231,934 | 7,153,565 | |||
Inventories | 14,030,064 | 16,335,101 | |||
Taxes recoverable | 1,156,355 | 1,428,658 | |||
Recoverable income taxes | 392,062 | 1,189,812 | |||
Derivatives | 157,906 | 33,816 | |||
Other receivables | 727,364 | 979,097 | |||
Total current assets | 34,457,656 | 39,293,445 | |||
Non-current | |||||
Taxes recoverable | 1,617,669 | 1,252,058 | |||
Recoverable income taxes | 252,995 | 230,069 | |||
Deferred tax assets | 6,358,601 | 8,257,252 | |||
Related parties | [1] | ||||
Derivatives | 71,544 | 51 | |||
Judicial deposits | 215,274 | 194,212 | |||
Other receivables | 187,670 | 395,892 | |||
Investments | 149,023 | 58,923 | |||
Property, plant and equipment | [2] | 37,763,295 | 37,225,130 | ||
Intangible | 3,022,144 | 2,877,299 | |||
Right of use of assets | [3] | 3,952,987 | 2,780,037 | ||
Total non current assets | 53,591,202 | 53,270,923 | |||
Total assets | 88,048,858 | 92,564,368 | |||
Current | |||||
Trade payables | 12,246,782 | 12,053,266 | |||
Borrowings | 1,254,550 | 1,343,494 | |||
Debentures | 127,801 | 59,088 | |||
Braskem Idesa Borrowings | 868,635 | 86,765 | |||
Payroll and related charges | 827,826 | 1,170,346 | |||
Taxes payable | 491,051 | 1,012,116 | |||
Income taxes payable | 381,117 | 1,672,844 | |||
Lease | 1,039,706 | 675,366 | |||
Provision - geological event in Alagoas | 4,247,609 | 4,378,071 | |||
Other payables | 2,700,170 | 2,742,167 | |||
Total current liabilities | 24,185,247 | 25,193,523 | |||
Non-current | |||||
Loan agreements | 31,310,710 | 33,553,766 | |||
Braskem Idesa Borrowings | 10,501,683 | 12,224,770 | |||
Debentures | 3,023,674 | 137,830 | |||
Accounts payable to related parties | |||||
Loan to non-controlling shareholders of Braskem Idesa | 2,498,093 | 3,646,538 | |||
Deferred tax liabilities | 1,153,481 | 1,407,434 | |||
Provision for losses on subsidiaries | [4] | ||||
Lease | 3,200,824 | 2,481,048 | |||
Provision - geological event in Alagoas | 2,378,949 | 3,283,188 | |||
Other payables | 3,687,980 | 4,432,443 | |||
Total non current liabilities | 57,755,394 | 61,167,017 | |||
Shareholders' equity | |||||
Attributable to the Company's shareholders | 7,321,799 | 7,865,819 | |||
Non-controlling interest in subsidiaries | (1,213,582) | (1,661,991) | |||
Total shareholders equity | 6,108,217 | 6,203,828 | |||
Total liabilities and shareholders' equity | 88,048,858 | 92,564,368 | |||
Net revenue | 96,519,284 | 105,625,201 | 58,543,494 | ||
Cost of products sold | (85,160,548) | (73,568,231) | (47,331,414) | ||
Gross profit | 11,358,736 | 32,056,970 | 11,212,080 | ||
Income (expenses) | |||||
Selling and distribution | (2,108,417) | (2,055,640) | (1,852,055) | ||
(Loss) reversals for impairment of trade accounts receivable | (38,426) | (8,914) | (55,252) | ||
General and administrative | (2,763,983) | (2,522,127) | (1,918,747) | ||
Research and development | (374,493) | (296,583) | (250,648) | ||
Results from equity-accounted investees | 34,848 | 4,644 | (19,398) | ||
Other income | 507,333 | 1,534,487 | 750,749 | ||
Other expenses | (2,343,525) | (2,669,290) | (7,938,621) | ||
Operating profit | 4,272,073 | 26,043,547 | (71,892) | ||
Financial results | |||||
Financial expenses | (5,662,693) | (5,907,155) | (4,913,365) | ||
Financial income | 2,010,134 | 1,827,438 | 600,184 | ||
Exchange rate variations, net | (572,170) | (4,002,807) | (5,298,711) | ||
Finance income (cost) | (4,224,729) | (8,082,524) | (9,611,892) | ||
(Loss) profit before income tax | |||||
and social contribution | 47,344 | 17,961,023 | (9,683,784) | ||
Income taxes | (867,735) | (3,999,403) | 2,668,478 | ||
(Loss) net profit for the year | (820,391) | 13,961,620 | (7,015,306) | ||
(Loss) profit before taxes | 47,344 | 17,961,023 | (9,683,784) | ||
Adjustments for reconciliation of profit (loss) | |||||
4,733,165 | 4,178,433 | 4,048,081 | |||
(34,848) | (4,644) | 19,398 | |||
2,702,636 | 6,311,431 | 10,457,272 | |||
370,153 | 819,130 | 336,838 | |||
1,520,019 | 1,339,765 | 6,901,828 | |||
(1,031,099) | (310,557) | ||||
38,426 | 8,914 | 55,252 | |||
130,995 | 115,187 | 8,794 | |||
9,507,890 | 29,698,140 | 11,833,122 | |||
Changes in operating working capital | |||||
3,746,107 | |||||
1,530,050 | 296,957 | (1,860,827) | |||
3,661,267 | (2,175,285) | (2,187,826) | |||
2,138,161 | (7,574,285) | (252,534) | |||
682,457 | 4,963,587 | 1,532,554 | |||
293,785 | |||||
310,789 | (198,556) | 397,103 | |||
514,079 | 1,199,614 | (3,001,564) | |||
(1,009,356) | (3,007,488) | 449,761 | |||
198,988 | |||||
(317,867) | (389,087) | (349,842) | |||
(406,587) | (314,194) | (145,355) | |||
(2,742,791) | (2,928,081) | (1,181,931) | |||
(390,727) | 805,452 | (184,187) | |||
Cash generated from operations | 13,477,365 | 20,376,774 | 9,287,354 | ||
(2,904,879) | (2,883,433) | (2,736,821) | |||
(1,620,747) | (2,706,856) | (257,542) | |||
Net cash generated by operating activities | 8,951,739 | 14,786,485 | 6,292,991 | ||
Proceeds from the sale of fixed assets and intangible assets | 2,438 | 40,353 | 33,140 | ||
Additions to investment in subsidiaries | (107,090) | ||||
Dividends received | 5,660 | 295 | 4,822 | ||
Acquisitions to property, plant and equipment and intangible assets | (4,848,281) | (3,421,324) | (2,759,789) | ||
Net cash used in investing activities | (4,947,273) | (3,380,676) | (2,721,827) | ||
Short-term and long-term debt | |||||
6,418,208 | 16,308 | 13,049,459 | |||
(3,855,662) | (9,413,909) | (8,734,505) | |||
Braskem Idesa borrowings | |||||
7,271,658 | |||||
(45,311) | (7,995,045) | (905,210) | |||
Related parts | (34,122) | (9,545) | |||
Loan to non-controlling shareholders of Braskem Idesa - payment | (37,618) | ||||
Lease | (928,890) | (841,706) | (662,068) | ||
Dividends paid | (1,350,293) | (5,993,265) | (2,380) | ||
Non-controlling interest in subsidiaries | 21,162 | (534,456) | |||
Cash generated (used) in financing activities | 225,092 | (16,965,504) | 2,173,222 | ||
Exchange variation on cash of foreign subsidiaries | (443,770) | 377,529 | 1,314,586 | ||
Increase in cash and cash equivalents | 3,785,788 | (5,182,166) | 7,058,972 | ||
Represented by | |||||
8,680,686 | 13,862,852 | 6,803,880 | |||
R$ 12466474 | R$ 8680686 | R$ 13862852 | |||
[1]Loan from Braskem Holanda to the Braskem Idesa project.[2]Adjustment corresponding to the capitalization of a portion of financial charges of the abovementioned loan.[3]Sublease agreed between the subsidiary Braskem Holanda and Braskem Idesa.[4]Provision recorded in the subsidiary Braskem Holanda for the negative shareholders' equity of Braskem Idesa. |
Property plant and equipment (D
Property plant and equipment (Details) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Buildings [member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 3 years 10 days | 2 years 11 months 1 day |
Machinery and facilities [member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 7 years 3 months 25 days | 6 years 8 months 26 days |
Fixtures and fittings [member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 10 years 21 days | 10 years 21 days |
It equipment member | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 21 years 10 days | 21 years 2 months 4 days |
Lab equipment member | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 9 years 7 months 2 days | 9 years 6 months 10 days |
Security equipment member | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 10 years 6 months | 10 years 14 days |
Vehicles [member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 19 years 6 months 3 days | 18 years 9 months 25 days |
Other [member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimates useful lives | 18 years 1 month 2 days | 17 years 18 days |
Property plant and equipment _2
Property plant and equipment (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
IfrsStatementLineItems [Line Items] | ||||
Cost | R$ 76529554 | R$ 73479063 | R$ 68794058 | |
Accumulated depreciation | (38,766,259) | (36,253,933) | (32,864,909) | |
Beginning balance | 37,225,130 | 35,929,149 | ||
Acquisitions | 4,949,985 | 3,552,134 | ||
Capitalized financial charges | 203,135 | 192,207 | ||
Cost | (1,202,241) | 1,521,854 | ||
Depreciation | 356,548 | (418,433) | ||
Transfers to inventory | (16,838) | |||
Transfers to intangible | (13,597) | (65,422) | ||
Cost | (964,308) | (486,958) | ||
Depreciation | 828,934 | 396,379 | ||
Depreciation and amortization | (3,697,809) | (3,377,241) | ||
Transfers to "non-current assets held for sale" | (1,701) | |||
Net book value | 37,763,295 | 37,225,130 | ||
Additions through acquisition of ER Plastics | 77,518 | |||
Ending balance | 37,763,295 | 37,225,130 | 35,929,149 | |
Land [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cost | 667,845 | 687,764 | 683,031 | |
Beginning balance | 687,764 | 683,031 | ||
Cost | (19,916) | 17,046 | ||
Transfers by concluded projects | 244 | |||
Cost | (3) | (10,856) | ||
Transfers to "non-current assets held for sale" | (1,701) | |||
Net book value | 667,845 | 687,764 | ||
Ending balance | 667,845 | 687,764 | 683,031 | |
Buildings [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cost | 8,526,704 | 8,591,020 | 8,281,424 | |
Accumulated depreciation | (3,561,627) | (3,409,532) | (3,159,185) | |
Beginning balance | 5,181,488 | 5,122,239 | ||
Acquisitions | 1,709 | 338 | ||
Cost | (173,496) | 287,866 | ||
Depreciation | 51,263 | (88,406) | ||
Transfers by concluded projects | 86,609 | 13,965 | ||
Transfers to intangible | 31,495 | |||
Cost | (7) | 9,723 | ||
Depreciation | 168 | |||
Depreciation and amortization | (203,358) | (195,900) | ||
Net book value | 4,965,077 | 5,181,488 | ||
Additions through acquisition of ER Plastics | 20,868 | |||
Ending balance | 4,965,077 | 5,181,488 | 5,122,239 | |
Machinery and facilities [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cost | 58,708,355 | 57,535,343 | 53,401,832 | |
Accumulated depreciation | (33,373,492) | (31,126,351) | (28,268,867) | |
Beginning balance | 26,408,992 | 25,132,965 | ||
Acquisitions | 296,719 | 160,297 | ||
Cost | (941,271) | 1,118,655 | ||
Depreciation | 285,016 | (313,267) | ||
Transfers by concluded projects | 2,688,220 | 3,207,833 | ||
Transfers to intangible | (11,673) | |||
Cost | (926,944) | (353,274) | ||
Depreciation | 815,220 | 387,005 | ||
Depreciation and amortization | (3,347,376) | (3,038,176) | ||
Transfers to "non-current assets held for sale" | (2) | |||
Disposals property plant and equipment transfer others | 118,629 | |||
Net book value | 25,334,863 | 26,408,992 | ||
Additions through acquisition of ER Plastics | 56,288 | |||
Ending balance | 25,334,863 | 26,408,992 | 25,132,965 | |
Projects and stoppage in progress [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cost | [1] | 6,307,797 | 4,449,433 | 4,389,105 |
Accumulated depreciation | [1] | (40,095) | ||
Beginning balance | [1] | 4,409,338 | 4,389,105 | |
Acquisitions | [1] | 4,643,953 | 3,388,078 | |
Capitalized financial charges | [1] | 203,135 | 192,207 | |
Cost | [1] | (38,966) | 74,428 | |
Transfers by concluded projects | [1] | (2,915,496) | (3,412,665) | |
Transfers to inventory | [1] | (16,838) | ||
Transfers to intangible | [1] | (13,597) | (73,397) | |
Cost | [1] | (20,665) | (91,485) | |
Disposals property plant and equipment transfer others | [1] | (40,095) | ||
Net book value | [1] | 6,267,702 | 4,409,338 | |
Ending balance | [1] | 6,267,702 | 4,409,338 | 4,389,105 |
Other [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cost | 2,318,854 | 2,215,503 | 2,038,666 | |
Accumulated depreciation | (1,791,045) | (1,677,954) | (1,436,857) | |
Beginning balance | 537,549 | 601,809 | ||
Acquisitions | 7,603 | 3,421 | ||
Cost | (28,592) | 23,859 | ||
Depreciation | 20,269 | (16,760) | ||
Transfers by concluded projects | 140,667 | 190,623 | ||
Transfers to intangible | (11,847) | |||
Cost | (16,689) | (41,066) | ||
Depreciation | 13,715 | 9,206 | ||
Depreciation and amortization | (147,074) | (143,164) | ||
Transfers to "non-current assets held for sale" | 2 | |||
Disposals property plant and equipment transfer others | (78,534) | |||
Net book value | 527,809 | 537,549 | ||
Additions through acquisition of ER Plastics | 362 | |||
Ending balance | R$ 527809 | R$ 537549 | R$ 601809 | |
[1]As of December 31, 2022, the main amounts recorded under this item corresponded to expenditures with scheduled maintenance shutdowns at plants in the amount of R$2,343,313 (2021: R$1,473,396), capitalized financial charges in the amount of R$365,374 (2021: R$237,519), inventories of spare parts in the amount of R$566,873 (2021: R$534,875), strategic projects ongoing in Brazil in the amount of R$713,813 (2021: R$351,657) and in Braskem America in the amount of R$126,055 (2021: R$136,342). The remainder corresponds mainly to projects for maintaining the production capacity of plants. |
Property plant and equipment _3
Property plant and equipment (Details 2) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | R$ 37763295 | R$ 37225130 | R$ 35929149 |
Brazil [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 17,204,824 | 15,867,387 | |
Mexico [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 13,444,279 | 13,714,543 | |
United states of america [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 6,729,469 | 7,281,077 | |
Germany [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 294,612 | 356,288 | |
Netherland [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 89,841 | 5,691 | |
Other [member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | R$ 270 | R$ 144 |
Property, plant and equipment_2
Property, plant and equipment (Details Narrative) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
IfrsStatementLineItems [Line Items] | |||
Description of property, plant and equipment shutdowns duration | The Company makes shutdowns at regular intervals that vary from two to six years to perform these activities. | ||
Capitalized financial charges | R$ 203135 | R$ 192207 | |
Depreciation rate, property, plant and equipment | 8.51% | 8.33% | |
Acquisition of property, plant and equipment with payment installments | R$ 525192 | R$ 295056 | |
Projects and stoppage in progress [member] | |||
IfrsStatementLineItems [Line Items] | |||
Capitalized financial charges | [1] | R$ 203135 | R$ 192207 |
[1]As of December 31, 2022, the main amounts recorded under this item corresponded to expenditures with scheduled maintenance shutdowns at plants in the amount of R$2,343,313 (2021: R$1,473,396), capitalized financial charges in the amount of R$365,374 (2021: R$237,519), inventories of spare parts in the amount of R$566,873 (2021: R$534,875), strategic projects ongoing in Brazil in the amount of R$713,813 (2021: R$351,657) and in Braskem America in the amount of R$126,055 (2021: R$136,342). The remainder corresponds mainly to projects for maintaining the production capacity of plants. |
Intangible assets (Details)
Intangible assets (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Cost | R$ 5492861 | R$ 5253159 | R$ 5089640 |
Accumulated amortization | (2,470,717) | (2,375,860) | (2,260,949) |
Balance as of beginning | 2,877,299 | 2,828,691 | |
Acquisitions | 147,150 | 68,776 | |
Foreign currency translation adjustment | 14,271 | ||
Cost | (27,170) | 25,466 | |
Amortization | 17,150 | (11,195) | |
Transfers from property, plant and equipment projects and stoppage in progress | 13,597 | 65,422 | |
Other write-offs net of amortization | (10,011) | (3,393) | |
Amortization | (112,008) | (96,468) | |
Balance as of end | 3,022,144 | 2,877,299 | 2,828,691 |
Additions through acquisition of ER Plastics | 87,733 | ||
Goodwill acquisition of ER Plastics | 28,402 | ||
Goodwill based on expected future profitability member | |||
IfrsStatementLineItems [Line Items] | |||
Cost | 3,216,080 | 3,187,678 | 3,187,678 |
Accumulated amortization | (1,128,804) | (1,128,804) | (1,128,804) |
Balance as of beginning | 2,058,874 | 2,058,874 | |
Balance as of end | 2,087,276 | 2,058,874 | 2,058,874 |
Goodwill acquisition of ER Plastics | 28,402 | ||
Brand names [member] | |||
IfrsStatementLineItems [Line Items] | |||
Cost | 564,258 | 549,196 | 499,515 |
Accumulated amortization | (243,272) | (235,408) | (214,455) |
Balance as of beginning | 313,789 | 285,060 | |
Acquisitions | 1,307 | 670 | |
Cost | (7,407) | 12,443 | |
Amortization | 2,711 | (2,711) | |
Transfers from property, plant and equipment projects and stoppage in progress | 28,770 | ||
Amortization | (10,575) | (10,444) | |
Balance as of end | 320,986 | 313,789 | 285,060 |
Additions through acquisition of ER Plastics | 21,162 | ||
Computer software [member] | |||
IfrsStatementLineItems [Line Items] | |||
Cost | 1,252,373 | 1,123,619 | 1,010,201 |
Accumulated amortization | (820,434) | (755,099) | (683,157) |
Balance as of beginning | 368,520 | 327,044 | |
Acquisitions | 144,930 | 67,686 | |
Cost | (19,762) | 13,023 | |
Amortization | 14,440 | (8,484) | |
Transfers from property, plant and equipment projects and stoppage in progress | 13,597 | 36,652 | |
Other write-offs net of amortization | (10,011) | (3,393) | |
Amortization | (79,774) | (64,008) | |
Balance as of end | 431,939 | 368,520 | 327,044 |
Customer-related intangible assets [member] | |||
IfrsStatementLineItems [Line Items] | |||
Cost | 460,150 | 392,666 | 392,246 |
Accumulated amortization | (278,207) | (256,549) | (234,533) |
Balance as of beginning | 136,117 | 157,713 | |
Acquisitions | 913 | 420 | |
Amortization | (21,659) | (22,016) | |
Balance as of end | 181,943 | R$ 136117 | R$ 157713 |
Additions through acquisition of ER Plastics | R$ 66571 |
Intangible assets (Details 1)
Intangible assets (Details 1) R$ in Thousands | Dec. 31, 2022 BRL (R$) | |
Northeastern petrochemical complex member | ||
IfrsStatementLineItems [Line Items] | ||
Allocated goodwill | R$ 475780 | |
Recoverable amount | 7,305,045 | |
Book value | R$ 3124332 | [1] |
Discount rate | 14.68% | |
Southern petrochemical complex member | ||
IfrsStatementLineItems [Line Items] | ||
Allocated goodwill | R$ 1390741 | |
Recoverable amount | 20,840,873 | |
Book value | R$ 6781881 | [1] |
Discount rate | 15.85% | |
Vinyls unity member | ||
IfrsStatementLineItems [Line Items] | ||
Allocated goodwill | R$ 192353 | |
Recoverable amount | 5,050,166 | |
Book value | R$ 2880156 | [1] |
Discount rate | 14.70% | |
[1]The book value includes, in addition to goodwill, property, plant and equipment and intangible assets with defined useful lives and working capital. |
Intangible assets (Details 2)
Intangible assets (Details 2) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
Northeastern petrochemical complex member | |
IfrsStatementLineItems [Line Items] | |
Discount rate | R$ 6822642 |
Perpetuity | 7,044,458 |
Southern petrochemical complex member | |
IfrsStatementLineItems [Line Items] | |
Discount rate | 19,744,124 |
Perpetuity | 20,351,277 |
Vinyls unity member | |
IfrsStatementLineItems [Line Items] | |
Discount rate | 4,741,224 |
Perpetuity | R$ 4930076 |
Intangible assets (Details 3)
Intangible assets (Details 3) | 12 Months Ended |
Dec. 31, 2022 | |
Brands And Patents [Member] | Bottom of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 10 years |
Brands And Patents [Member] | Top of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 20 years |
Software Licenses And Rights Of Use [Member] | Bottom of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 5 years |
Software Licenses And Rights Of Use [Member] | Top of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 10 years |
Customers And Suppliers Agreements [Member] | Bottom of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 14 years |
Customers And Suppliers Agreements [Member] | Top of range [member] | |
IfrsStatementLineItems [Line Items] | |
Amortization estimated useful life | 28 years |
Intangible assets (Details 4)
Intangible assets (Details 4) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Intangible assets | R$ 3022144 | R$ 2877299 |
Brazil [member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets | 2,571,011 | 2,526,999 |
Mexico [member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets | 292,020 | 304,624 |
Netherland [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets | 122,447 | |
United states of america [member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets | 22,820 | 24,404 |
Germany [member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets | 13,839 | 21,253 |
Other [member] | ||
IfrsStatementLineItems [Line Items] | ||
Intangible assets | R$ 7 | R$ 19 |
Intangible assets (Details Narr
Intangible assets (Details Narrative) | Dec. 31, 2022 |
Intangible Assets | |
Inflation rate for perpetuity | 3% |
Right-of-use assets and lease_3
Right-of-use assets and lease liability (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | R$ 2780037 | R$ 2902395 |
Acquisitions | 2,236,307 | 746,573 |
Depreciation | (995,278) | (876,986) |
Disposal | (11,329) | (71,928) |
Foreign currency translation adjustment | (56,750) | 79,983 |
Right-of-use assets, Ending balance | 3,952,987 | 2,780,037 |
Rail cars member | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 986,061 | 1,007,336 |
Acquisitions | 72,506 | 102,648 |
Depreciation | (173,272) | (187,915) |
Disposal | (5,359) | |
Foreign currency translation adjustment | (53,740) | 63,992 |
Right-of-use assets, Ending balance | 826,196 | 986,061 |
Machinery and equipments member | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 793,254 | 749,728 |
Acquisitions | 1,147,145 | 281,113 |
Depreciation | (330,971) | (207,985) |
Disposal | (5,970) | (30,245) |
Foreign currency translation adjustment | (804) | 643 |
Right-of-use assets, Ending balance | 1,602,654 | 793,254 |
Ships [member] | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 696,661 | 834,848 |
Acquisitions | 811,372 | 258,201 |
Depreciation | (385,968) | (399,677) |
Foreign currency translation adjustment | (1,793) | 3,289 |
Right-of-use assets, Ending balance | 1,120,272 | 696,661 |
Buildings and constructions member | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 265,312 | 259,896 |
Acquisitions | 102,040 | 52,897 |
Depreciation | (75,319) | (52,997) |
Disposal | (6,333) | |
Foreign currency translation adjustment | (213) | 11,849 |
Right-of-use assets, Ending balance | 291,820 | 265,312 |
Vehicles [member] | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 29,449 | 33,888 |
Acquisitions | 102,827 | 51,171 |
Depreciation | (26,158) | (24,078) |
Disposal | (31,667) | |
Foreign currency translation adjustment | (120) | 135 |
Right-of-use assets, Ending balance | 105,998 | 29,449 |
Computer equipment [member] | ||
IfrsStatementLineItems [Line Items] | ||
Right-of-use assets, beginning balance | 9,300 | 16,699 |
Acquisitions | 417 | 542 |
Depreciation | (3,590) | (4,334) |
Disposal | (3,682) | |
Foreign currency translation adjustment | (80) | 75 |
Right-of-use assets, Ending balance | R$ 6047 | R$ 9300 |
Right-of-use assets and lease_4
Right-of-use assets and lease liability (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Right-of-use Assets And Lease Liability | ||
As of December 31 | R$ 3156414 | R$ 3207886 |
Acquired | 2,232,043 | 746,573 |
Additions through acquisition of ER Plastics | 4,264 | |
Disposals | (12,568) | (50,473) |
Interests and monetary and exchange variations, net | 83,871 | 206,375 |
Currancy translation adjustments | (73,585) | 85,984 |
Payments | (928,890) | (841,706) |
Interest paid | (221,019) | (198,225) |
As of December 31 | 4,240,530 | 3,156,414 |
Lease current liabilities | 1,039,706 | 675,366 |
Lease non current liabilities | 3,200,824 | 2,481,048 |
Lease liabilities | R$ 4240530 | R$ 3156414 |
Right-of-use assets and lease_5
Right-of-use assets and lease liability (Details 2) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Total | R$ 4983177 | R$ 3377242 |
Later than one year and not later than two years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 777,410 | |
Later than two years and not later than three years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 1,109,048 | 633,141 |
Later than three years and not later than four years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 855,803 | 493,147 |
Later than four years and not later than five years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | 630,074 | 399,924 |
Later than five years [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total | R$ 2388252 | R$ 1073620 |
Right-of-use assets and lease_6
Right-of-use assets and lease liability (Details 3) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | R$ 546017 |
Cash flows related to the contracts undiscounted | 881,835 |
Later than two years and not later than three years [member] | |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | 1,014 |
Cash flows related to the contracts undiscounted | 1,080 |
Later than three years and not later than four years [member] | |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | 52,258 |
Cash flows related to the contracts undiscounted | 55,678 |
Later than four years and not later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | 49,390 |
Cash flows related to the contracts undiscounted | 56,067 |
Later Than Five Years And Not Later Than Six Years [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | 46,687 |
Cash flows related to the contracts undiscounted | 56,468 |
Later Than Six Years And Not Later Than Seven Years [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash flows related to the contracts discounted | 396,669 |
Cash flows related to the contracts undiscounted | R$ 712541 |
Right-of-use assets and lease_7
Right-of-use assets and lease liability (Details Narrative) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Low-value leases expense | R$ 42000 | R$ 7200 |
Contractual payments | R$ 65529 | R$ 70085 |
Weighted average incremental rate | 5.80% | 5.18% |
Non-cash investing and financing activity | R$ 1909816 | R$ 565774 |
Uninitiated lease arrangements [member] | ||
IfrsStatementLineItems [Line Items] | ||
Commitments of lease agreement | R$ 546000 |
Trade payables (Details)
Trade payables (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Trade account payables | R$ 12249851 | R$ 12164730 | |
Trade account payables, current | 12,246,782 | 12,053,266 | |
Trade account payables, current | 3,069 | 111,464 | |
Third parties member | Domestic market member | |||
IfrsStatementLineItems [Line Items] | |||
Trade account payables | 1,748,853 | 1,492,223 | |
Third parties member | Foreign market member | |||
IfrsStatementLineItems [Line Items] | |||
Trade account payables | [1] | 9,540,635 | 9,936,266 |
Third parties forfait member | |||
IfrsStatementLineItems [Line Items] | |||
Trade account payables | 2,431,249 | 1,980,029 | |
Third parties forfait member | Domestic market member | |||
IfrsStatementLineItems [Line Items] | |||
Trade account payables | [2] | 682,396 | 487,806 |
Related partie member | Domestic market member | |||
IfrsStatementLineItems [Line Items] | |||
Trade account payables | 196,440 | 208,287 | |
Related partie forfait member | |||
IfrsStatementLineItems [Line Items] | |||
Trade account payables | 277,967 | 248,435 | |
Related partie forfait member | Domestic market member | |||
IfrsStatementLineItems [Line Items] | |||
Trade account payables | [2] | R$ 81527 | R$ 40148 |
[1]Includes R$5.8 billion (2021: R$4.7 billion) in raw material purchases due in up to 360 days for which the Company provides letters of credit issued by financial institutions that indicate the suppliers as beneficiaries.[2]The Company has payment agreements with financial institutions that allow certain suppliers to opt for granting their receivables from the Company upon accepting of financial institutions by acquiring or not the related receivables, without the Company's interference. The grant operation does not imply any change in the instruments issued by suppliers, with the same conditions of the original amount and the payment term maintained. |
Borrowings (Details)
Borrowings (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
IfrsStatementLineItems [Line Items] | |||
Borrowings | R$ 32565260 | R$ 34897260 | |
Current borrowings | 1,254,550 | 1,343,494 | |
Non-current portion of non-current borrowings | 31,310,710 | 33,553,766 | |
Agribusiness Credit Notes [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings | 763,396 | ||
Foreign currency member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings | 31,065,442 | 34,432,009 | |
Current borrowings | 1,177,144 | 1,284,483 | |
Non-current portion of non-current borrowings | R$ 29888298 | 33,147,526 | |
Foreign currency member | Bond member | |||
IfrsStatementLineItems [Line Items] | |||
Description of borrowing interest rate | Note 16 (b) | ||
Borrowings | R$ 26124158 | 30,322,998 | |
Foreign currency member | Export prepayment member | |||
IfrsStatementLineItems [Line Items] | |||
Description of borrowing interest rate | [1] | US$ exchange variation + Term SOFR quarterly + 1,79 | |
Borrowings | [1] | R$ 1514651 | |
Foreign currency member | Other borrowings member | |||
IfrsStatementLineItems [Line Items] | |||
Description of borrowing interest rate | Note 16 (c) | ||
Borrowings | R$ 3880165 | 4,703,059 | |
Foreign currency member | Transactions costs member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings | (453,532) | (594,048) | |
Local currency member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings | 1,499,818 | 465,251 | |
Current borrowings | 77,406 | 59,011 | |
Non-current portion of non-current borrowings | 1,422,412 | 406,240 | |
Local currency member | Transactions costs member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings | R$ 21193 | (7) | |
Local currency member | Agribusiness Credit Notes [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of borrowing interest rate | Note 16 (d) | ||
Local currency member | B N D E S [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of borrowing interest rate | IPCA + 6.04 | ||
Borrowings | R$ 386534 | 435,778 | |
Local currency member | Export credit notes1 member | |||
IfrsStatementLineItems [Line Items] | |||
Description of borrowing interest rate | 100.00 of CDI + 1.30 | ||
Borrowings | R$ 348885 | ||
Local currency member | Other Fixed Interest Loans [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of borrowing interest rate | Interest between 3.5 and 6.5 | ||
Borrowings | R$ 18671 | 24,864 | |
Local currency member | Other Variable Interest Loans [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of borrowing interest rate | IPCA + interest between 2.39 and 2.78 | ||
Borrowings | R$ 3525 | R$ 4616 | |
[1]Maturity in June 2027. |
Borrowings (Details 1)
Borrowings (Details 1) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | R$ 31310710 | R$ 33553766 |
Twenty Twenty Three [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 1,199,143 | |
Twenty Twenty Four [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 2,143,624 | 3,965,917 |
Twenty Twenty Five [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 603,743 | 645,517 |
Twenty Twenty Six [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 581,625 | 622,032 |
Twenty Twenty Sevan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 2,356,678 | 552,171 |
Twenty Twenty Eight [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 7,281,841 | 7,081,301 |
Twenty Twenty Nine [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 287,178 | 230,557 |
Twenty Thirty [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 7,995,727 | 8,535,493 |
Twenty Thirty One [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | 106,661 | 61,617 |
Thirty Three And Thereafter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings, noncurrent | R$ 9953633 | R$ 10660018 |
Borrowings (Details 2)
Borrowings (Details 2) - Foreign currency member - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
IfrsStatementLineItems [Line Items] | |||
Borrowings | R$ 26124158 | R$ 30322998 | |
Bonds1 member | |||
IfrsStatementLineItems [Line Items] | |||
Issue date | [1] | Jul-2011 and jul-2012 | |
Maturity | [1] | jul-2041 | |
Interest (% per year) | [1] | 7.125% | |
Borrowings | [1] | R$ 3044911 | 3,296,917 |
Bonds2 member | |||
IfrsStatementLineItems [Line Items] | |||
Issue date | [2] | Feb-2014 and may-2014 | |
Maturity | [2] | fev-2024 | |
Interest (% per year) | [2] | 6.45% | |
Borrowings | [2] | R$ 1588729 | 3,417,741 |
Bonds3 member | |||
IfrsStatementLineItems [Line Items] | |||
Issue date | [2] | Oct-2017 | |
Maturity | [2] | jan-2023 | |
Interest (% per year) | [2] | 3.50% | |
Borrowings | [2] | 593,964 | |
Bonds4 member | |||
IfrsStatementLineItems [Line Items] | |||
Issue date | [1] | Oct-2017 | |
Maturity | [1] | jan-2028 | |
Interest (% per year) | [1] | 4.50% | |
Borrowings | [1] | R$ 6249333 | 6,695,263 |
Bonds5 member | |||
IfrsStatementLineItems [Line Items] | |||
Issue date | [1] | Nov-2019 | |
Maturity | [1] | jan-2030 | |
Interest (% per year) | [1] | 4.50% | |
Borrowings | [1] | R$ 7936089 | 8,527,701 |
Bonds6 member | |||
IfrsStatementLineItems [Line Items] | |||
Issue date | Nov-2019 | ||
Maturity | jan-2050 | ||
Interest (% per year) | 5.875% | ||
Borrowings | R$ 4009069 | 4,287,829 | |
Bonds7 member | |||
IfrsStatementLineItems [Line Items] | |||
Issue date | [2] | Jul-2020 | |
Maturity | [2] | jan-2081 | |
Interest (% per year) | [2] | 8.50% | |
Borrowings | [2] | R$ 3296027 | R$ 3503583 |
[1]Prepayments were made in 2021 in the total amount of R$1.3 billion. In September 2022, a portion of the bonds was repurchased for R$83.8 million.[2]Prepayments were made between 2019 and 2022 in the total amount of R$4.6 billion. The bond maturing in January 2023 was fully settled in June 2022. In February 2023, a prepayment was made of the total amount of the bond due in February 2024. |
Borrowings (Details 3)
Borrowings (Details 3) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Foreign currency member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings one | R$ 763396 | ||
Foreign currency member | Other n e x i1 member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings, maturity | [1] | nov-2028 | |
Borrowings, interest rate basis | [2] | Us dollar exchange variation + semianual Libor + 0.90 | |
Borrowings one | [2] | R$ 929112 | R$ 1154146 |
Foreign currency member | Other n e x i2 member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings, maturity | [1] | dec-2029 | |
Borrowings, interest rate basis | [2] | Us dollar exchange variation + semianual Libor + 0.90 | |
Borrowings one | [2] | R$ 549610 | 670,124 |
Foreign currency member | Other n e x i3 member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings, maturity | [1] | apr-2026 | |
Borrowings, interest rate basis | [1] | Us dollar exchange variation + semianual Libor - 1.00 | |
Borrowings one | [1] | R$ 197209 | 266,403 |
Foreign currency member | Other N E X I 4 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings, maturity | [3] | mar-2027 | |
Borrowings, interest rate basis | [3] | Us dollar exchange variation + semianual Libor + 1.61 | |
Borrowings one | [3] | R$ 357488 | 462,490 |
Foreign currency member | Other N E X I 5 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings, maturity | [4] | dec-2028 | |
Borrowings, interest rate basis | [4] | Us dollar exchange variation + semianual Libor + 0.65 | |
Borrowings one | [4] | R$ 757832 | 947,898 |
Foreign currency member | Other N E X I 6 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings, maturity | [3] | feb-2031 | |
Borrowings, interest rate basis | [3] | Us dollar exchange variation + semianual Libor + 1.70 | |
Borrowings one | [3] | R$ 1007067 | 1,201,998 |
Foreign currency member | Other N E X I 7 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings, maturity | [5] | aug-2028 to jun-2029 | |
Borrowings, interest rate basis | [5] | Euro exchange variation + interest between 2.40 and 7.41 | |
Borrowings one | [5] | R$ 79698 | |
Foreign currency member | Other N E X I 8 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings, maturity | no maturity | ||
Borrowings, interest rate basis | [5] | Euro exchange variation + Euribor monthly + 4.10 | |
Borrowings one | [5] | R$ 2149 | |
Foreign currency three member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings one | R$ 3880165 | ||
Borrowings two | R$ 4703059 | ||
[1]Credit facility contracted by Braskem S.A. with a term of 7 years and guarantee of its own assets.[2]Credit facility contracted by the subsidiaries Braskem Holanda Finance and Braskem Holanda Inc. secured by SACE, an Italian export credit agency, and guarantee from Braskem.[3]Credit facility contracted by the subsidiaries Braskem Holanda Finance and Braskem Holanda Inc, secured by NEXI, the Japanese export credit agency, and guarantee from Braskem.[4]Credit facility contracted by the subsidiary Braskem America, secured by Euler Hermes, the German export credit agency in the maximum amount of R$1,174 million.[5]Credit facility contracted by the indirect subsidiary ER Plastics B.V., with guarantee of its own assets and of Braskem in the proportion of its ownership interest. |
Borrowings (Details 4)
Borrowings (Details 4) - Foreign currency member R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |
Notional amount | R$ 720736 |
Borrowings one | R$ 763396 |
Other C R A 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Issue date | Jan-2022 |
Notional amount | R$ 581602 |
Maturity | Dec-2028 |
Borrowings interest rate basis | IPCA + 5.54% |
Borrowings one | R$ 616025 |
Other C R A 2 [Member] | |
IfrsStatementLineItems [Line Items] | |
Issue date | Jan-2022 |
Notional amount | R$ 139134 |
Maturity | Dec-2031 |
Borrowings interest rate basis | IPCA + 5.57% |
Borrowings one | R$ 147371 |
Braskem Idesa Borrowings (Detai
Braskem Idesa Borrowings (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
IfrsStatementLineItems [Line Items] | |||
Braskem idesa borrowings | R$ 11043483 | R$ 11939268 | |
Non current braskem idesa borrowings3 | 11,370,318 | 12,311,535 | |
Current braskem idesa borrowings | 868,635 | 86,765 | |
Non current braskem idesa borrowings1 | R$ 10501683 | 12,224,770 | |
Bond member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings, maturity | [1] | nov-2029 | |
Borrowings, interest rate basis | [1] | Us dollar exchange variation + 7.45 | |
Braskem idesa borrowings | [1] | R$ 4690619 | 5,104,463 |
Bond i i member | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings, maturity | [2] | feb-2032 | |
Borrowings, interest rate basis | [2] | Us dollar exchange variation + 6.99 | |
Braskem idesa borrowings | [2] | R$ 6352864 | 6,834,805 |
Other [member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings, maturity | [3] | Oct-2026 | |
Borrowings, interest rate basis | [3] | Us dollar exchange variation + quarterly Libor + 4.00 | |
Braskem idesa borrowings | [3] | R$ 734837 | 849,859 |
Transactions costs member | |||
IfrsStatementLineItems [Line Items] | |||
Braskem idesa borrowings | R$ 408002 | R$ 477592 | |
[1]Unsecured Bond, considers the same guarantees (property, plant and equipment) of Bond II.[2]Sustainability-linked bonds. The bonds due in 10 years have an interest rate of 6.99% p.a., which may be increased by up to 0.37% p.a. if certain conditions are not met. The Braskem Idesa pledged as guarantee property, plant and equipment assets in the same value as the bond.[3]For this financing, fixed assets and other rights (such as shares and receivables) were granted as collateral. |
Braskem Idesa Borrowings (Det_2
Braskem Idesa Borrowings (Details 1) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Original Long-Term Maturities | R$ 10501683 | R$ 12224770 |
Twenty Twenty Two [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Original Long-Term Maturities | 67,649 | |
Twenty Twenty Three [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Original Long-Term Maturities | 68,694 | |
Twenty Twenty Four [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Original Long-Term Maturities | 69,530 | |
Twenty Twenty Five [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Original Long-Term Maturities | 408,445 | |
Twenty Twenty Six [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Original Long-Term Maturities | 4,337,567 | 4,900,399 |
Twenty Twenty Sevan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Original Long-Term Maturities | R$ 6164116 | R$ 6710053 |
Braskem Idesa Borrowings (Det_3
Braskem Idesa Borrowings (Details Narrative) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
Borrowings [abstract] | |
Cash position equivalent | R$ 2184332 |
Debentures (Details)
Debentures (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
IfrsStatementLineItems [Line Items] | |||
Debentures | R$ 3151475 | R$ 196918 | |
Debentures, current | 127,801 | 59,088 | |
Debentures, non current | R$ 3023674 | 137,830 | |
Debentures member | |||
IfrsStatementLineItems [Line Items] | |||
Annual financial charges (%) | [1] | mar-2013 | |
Borrowings, maturity | [1] | mar-2025 | |
Annual financial charges (%) | [1] | IPCA + 6% | |
Debentures | [1] | R$ 109877 | 150,352 |
Debentures1 member | |||
IfrsStatementLineItems [Line Items] | |||
Annual financial charges (%) | [1] | sep-2013 | |
Borrowings, maturity | [1] | Sep-2025 | |
Annual financial charges (%) | [1] | 126.5% of CDI | |
Debentures | [1] | R$ 34604 | 47,109 |
Debentures 2 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Annual financial charges (%) | may-2022 | ||
Borrowings, maturity | may-2029 | ||
Annual financial charges (%) | CDI + 1,75 | ||
Debentures | R$ 770910 | ||
Debentures 3 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Annual financial charges (%) | may-2022 | ||
Borrowings, maturity | may-2030 to 2032 | ||
Annual financial charges (%) | CDI + 2,00 | ||
Debentures | R$ 248970 | ||
Debentures 4 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Annual financial charges (%) | [1] | aug-2022 | |
Borrowings, maturity | [1] | aug-2029 | |
Annual financial charges (%) | [1] | CDI + 1,75 | |
Debentures | [1] | R$ 786770 | |
Debentures 5 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Annual financial charges (%) | nov-2022 | ||
Borrowings, maturity | nov-2029 | ||
Annual financial charges (%) | CDI + 1,70 | ||
Debentures | R$ 1113987 | ||
Debentures 6 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Annual financial charges (%) | nov-2022 | ||
Borrowings, maturity | nov-2030 to 2032 | ||
Annual financial charges (%) | CDI + 1,95 | ||
Debentures | R$ 97159 | ||
Debentures 7 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Annual financial charges (%) | Transactions costs | ||
Debentures | R$ 10802 | R$ 543 | |
[1]These debentures were secured by mandatory deposits as disclosed in Note 6. |
Debentures (Details 1)
Debentures (Details 1) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Debentures, noncurrent | R$ 3023674 | R$ 137830 |
Twenty Twenty Three [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, noncurrent | 57,045 | |
Twenty Twenty Four [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, noncurrent | 58,550 | 57,096 |
Twenty Twenty Five [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, noncurrent | 24,059 | R$ 23689 |
Twenty Twenty Nine [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, noncurrent | 2,600,998 | |
Twenty Twenty Thirty [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, noncurrent | 113,291 | |
Twenty Twenty Thirty One [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, noncurrent | 113,360 | |
Twenty Twenty Thirty Two [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Debentures, noncurrent | R$ 113416 |
Reconciliation of borrowing a_3
Reconciliation of borrowing activities in the statement of cash flow (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2020 | ||
IfrsStatementLineItems [Line Items] | |||
Fair value of financial transactions of non-controlling subsidiaries | R$ 609827 | ||
Additional dividends approved in the board meeting | (1,350,000) | ||
Additional dividends of subsidiary | R$ 2450 | ||
Borrowings current | [1] | 1,254,550 | |
Debentures current | [1] | 127,801 | |
Borrowings and debentures current | [1] | 1,382,351 | |
financing current | [1] | 868,635 | |
Lease current | [1] | 1,039,706 | |
Dividends current | [1] | 11,007 | |
Borrowings non current | 31,310,710 | ||
Debentures non current | 3,023,674 | ||
Borrowings and debentures non current | 34,334,384 | ||
financing non current | 10,501,683 | ||
Non-controlling shareholders non current | 2,498,093 | ||
Lease non current | 3,200,824 | ||
Borrowings total | 32,565,260 | ||
Debentures total | 3,151,475 | ||
Borrowings and debentures total | 35,716,735 | ||
Financing total | 11,370,318 | ||
Shareholders total | 2,498,093 | ||
Lease total | 4,240,530 | ||
Dividends total | 11,007 | ||
Borrowing [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 34,897,260 | ||
Proceeds from debt classified as financing activities | 3,479,224 | ||
Payments | (3,753,427) | ||
Cash used in financing activities | (274,203) | ||
Interest paid | (1,880,611) | ||
Interest and monetary and exchange variations, net | 1,524,983 | ||
Additions through acquisition of ER Plastic | 99,702 | ||
Currency translation adjustments | (1,801,871) | ||
Total other changes | (2,057,797) | ||
Ending balance | 32,565,260 | ||
Debentures member | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 196,918 | ||
Proceeds from debt classified as financing activities | 2,938,984 | ||
Payments | (102,235) | ||
Cash used in financing activities | 2,836,749 | ||
Interest paid | (34,548) | ||
Interest and monetary and exchange variations, net | 152,356 | ||
Total other changes | 117,808 | ||
Ending balance | 3,151,475 | ||
Borrowings And Debentures [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 35,094,178 | ||
Proceeds from debt classified as financing activities | 6,418,208 | ||
Payments | (3,855,662) | ||
Cash used in financing activities | 2,562,546 | ||
Interest paid | (1,915,159) | ||
Interest and monetary and exchange variations, net | 1,677,339 | ||
Additions through acquisition of ER Plastic | 99,702 | ||
Currency translation adjustments | (1,801,871) | ||
Total other changes | (1,939,989) | ||
Ending balance | 35,716,735 | ||
Braskem Idesa Financing [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 12,311,535 | ||
Payments | (45,311) | ||
Cash used in financing activities | (45,311) | ||
Interest paid | (752,489) | ||
Interest and monetary and exchange variations, net | 170,180 | ||
Currency translation adjustments | (313,597) | ||
Total other changes | (895,906) | ||
Ending balance | 11,370,318 | ||
Shareholders Of Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 3,646,538 | ||
Payments | (34,122) | ||
Cash used in financing activities | (34,122) | ||
Interest paid | (16,212) | ||
Interest and monetary and exchange variations, net | (47,784) | ||
Currency translation adjustments | (84,720) | ||
Fair value of financial transactions of non-controlling subsidiaries | (889,967) | ||
Total other changes | (1,114,323) | ||
Ending balance | 2,498,093 | ||
Lease [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 3,156,414 | ||
Payments | (928,890) | ||
Cash used in financing activities | (928,890) | ||
Interest paid | (221,019) | ||
Interest and monetary and exchange variations, net | 83,871 | ||
New contracts | 2,232,043 | ||
Disposal | (12,568) | ||
Additions through acquisition of ER Plastic | 4,264 | ||
Currency translation adjustments | (73,585) | ||
Total other changes | 2,013,006 | ||
Ending balance | 4,240,530 | ||
Dividends [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 10,538 | ||
Payments | (1,350,293) | ||
Cash used in financing activities | (1,350,293) | ||
Additional dividends approved in the board meeting | 1,350,000 | ||
Additional dividends of subsidiary | 1,236 | ||
Other | (474) | ||
Total other changes | 1,350,762 | ||
Ending balance | 11,007 | ||
Loan to non controlling shareholders of braskem idesa member | |||
IfrsStatementLineItems [Line Items] | |||
Initial adoption of lease | R$ 75640 | ||
[1]Amount classified in "Other payables" under current liabilities. |
Financial instruments (Details)
Financial instruments (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Trade payables member | Financial liabilities at amortised cost, category [member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | R$ 12249851 | R$ 12164730 |
Book value financial liabilities | 12,249,851 | 12,164,730 |
Borrowing [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 30,432,371 | 38,839,745 |
Book value financial liabilities | 33,039,985 | 35,491,315 |
Braskem idesa borrowings member | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 9,098,458 | 13,128,665 |
Book value financial liabilities | 11,778,320 | 12,789,127 |
Loan to noncontrolling shareholder of braskem idesa member | Financial liabilities at amortised cost, category [member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 2,498,093 | 3,646,538 |
Book value financial liabilities | 2,498,093 | 3,646,538 |
Leniency agreement member | Financial liabilities at amortised cost, category [member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 903,140 | 1,123,296 |
Book value financial liabilities | 903,140 | 1,123,296 |
Level 2 of fair value hierarchy [member] | Borrowing [Member] | Financial liabilities at amortised cost, category [member] | Foreign Currency Bond [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 5,329,174 | 4,696,970 |
Book value financial liabilities | 5,394,816 | 4,703,059 |
Level 2 of fair value hierarchy [member] | Borrowing [Member] | Financial liabilities at amortised cost, category [member] | Local currency member | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 1,937,255 | 451,899 |
Book value financial liabilities | 1,521,011 | 465,258 |
Level 2 of fair value hierarchy [member] | Braskem idesa borrowings member | Financial liabilities at amortised cost, category [member] | Other [member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 796,510 | 931,141 |
Book value financial liabilities | 734,837 | 849,859 |
Level 2 of fair value hierarchy [member] | Debentures member | Financial liabilities at amortised cost, category [member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 3,190,417 | 195,570 |
Book value financial liabilities | 3,162,277 | 196,918 |
Level 1 of fair value hierarchy [member] | Borrowing [Member] | Financial liabilities at amortised cost, category [member] | Foreign Currency Bond [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 23,165,942 | 33,690,876 |
Book value financial liabilities | 26,124,158 | 30,322,998 |
Level 1 of fair value hierarchy [member] | Braskem idesa borrowings member | Financial liabilities at amortised cost, category [member] | Bond member | ||
IfrsStatementLineItems [Line Items] | ||
Fair value financial liabilities | 8,301,948 | 12,197,524 |
Book value financial liabilities | 11,043,483 | 11,939,268 |
Cash and cash equivalent member | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 12,466,474 | 8,680,686 |
Fair value financial assets | 12,466,474 | 8,680,686 |
Cash and cash equivalent member | Financial assets at fair value through profit or loss, category [member] | Level 2 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 6,392,266 | 3,629,864 |
Fair value financial assets | 6,392,266 | 3,629,864 |
Cash and cash equivalent member | Cash and banks member | Financial assets at amortised cost, category [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 6,074,208 | 5,050,822 |
Fair value financial assets | 6,074,208 | 5,050,822 |
Financial investments member | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 2,312,631 | 3,509,555 |
Fair value financial assets | 2,312,631 | 3,509,555 |
Financial investments member | Letras financeiras do tesouro l f t member | Financial assets at fair value through profit or loss, category [member] | Level 2 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 1,789,375 | 2,337,171 |
Fair value financial assets | 1,789,375 | 2,337,171 |
Financial investments member | Time deposit investments member | Financial assets at amortised cost, class [member] | Level 2 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 106,271 | |
Fair value financial assets | 106,271 | |
Financial investments member | Other [member] | Financial assets at fair value through profit or loss, category [member] | Level 2 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 523,256 | 1,066,113 |
Fair value financial assets | 523,256 | 1,066,113 |
Trade Accounts Receivables [Member] | Financial assets at fair value through profit or loss, category [member] | Level 2 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 32,711 | 48,508 |
Fair value financial liabilities | 32,711 | 48,508 |
Trade Accounts Receivables [Member] | Financial assets at amortised cost, class [member] | ||
IfrsStatementLineItems [Line Items] | ||
Book value financial assets | 3,199,223 | 7,118,452 |
Fair value financial assets | R$ 3199223 | R$ 7118452 |
Financial instruments (Details
Financial instruments (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Current derivative financial assets | R$ 157906 | R$ 33816 |
Non-current derivative financial assets | 71,544 | 51 |
Derivative financial assets | 229,450 | 33,867 |
Current derivative financial liabilities | 195,169 | 256,131 |
Non-current derivative financial liabilities | 81,917 | 362,915 |
Derivative financial liabilities | 277,086 | 619,046 |
Derivative financial assets and liabilities | 47,636 | 585,179 |
Non hedge accounting transactions member | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | (15,995) | (2,545) |
Increase (decrease) in credit derivative, fair value | (27,830) | |
Credit derivative financial settlement | 14,380 | |
Hedge accounting transactions member | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | 63,631 | 587,724 |
Increase (decrease) in credit derivative, fair value | (454,754) | |
Credit derivative financial settlement | (69,339) | |
Braksem America Swap C 3 P G P [Member] | Non hedge accounting transactions member | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | 14,299 | |
Increase (decrease) in credit derivative, fair value | (2,158) | |
Credit derivative financial settlement | (12,141) | |
Braskem Holanda Swap Nafta Gasolina [Member] | Non hedge accounting transactions member | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | (15,996) | (16,847) |
Increase (decrease) in credit derivative, fair value | (25,733) | |
Credit derivative financial settlement | 26,584 | |
Braskem Argentina Exchange Swap [Member] | Non hedge accounting transactions member | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | 1 | 3 |
Increase (decrease) in credit derivative, fair value | 61 | |
Credit derivative financial settlement | (63) | |
Braskem S A Dollar Call And Put Options [Member] | Hedge accounting transactions member | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | (65,370) | 85,216 |
Increase (decrease) in credit derivative, fair value | (227,871) | |
Credit derivative financial settlement | 77,285 | |
Braskem S A Dollar Swap C D I [Member] | Hedge accounting transactions member | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | 151,713 | R$ 502508 |
Increase (decrease) in credit derivative, fair value | (194,055) | |
Credit derivative financial settlement | (156,740) | |
Braskem S A Swap C R A [Member] | Hedge accounting transactions member | ||
IfrsStatementLineItems [Line Items] | ||
Credit derivative, fair value at end of period | (22,712) | |
Increase (decrease) in credit derivative, fair value | (32,828) | |
Credit derivative financial settlement | R$ 10116 |
Financial instruments (Detail_2
Financial instruments (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Total nominal | R$ 741516 | |
Fair value, net | 22,712 | |
Current derivative financial assets | 157,906 | R$ 33816 |
Non-current derivative financial assets | 71,544 | 51 |
Derivative financial assets | 229,450 | 33,867 |
Non-current derivative financial liabilities | 81,917 | 362,915 |
Derivative financial liabilities | 277,086 | 619,046 |
Derivative financial assets and liabilities | 47,636 | R$ 585179 |
Derivatives [member] | ||
IfrsStatementLineItems [Line Items] | ||
Current derivative financial assets | 13,274 | |
Non-current derivative financial assets | 49,613 | |
Derivative financial assets | 62,887 | |
Non-current derivative financial liabilities | 40,175 | |
Derivative financial liabilities | 40,175 | |
Derivative financial assets and liabilities | 22,712 | |
Swaps C R A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total nominal | R$ 600218 | |
Interest rate per year | 3.5388% | |
Maturity date | dec-2028 | |
Fair value, net | R$ 12603 | |
Swaps C R A 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total nominal | R$ 141298 | |
Interest rate per year | 3.3742% | |
Maturity date | dec-2031 | |
Fair value, net | R$ 10109 |
Financial instruments (Detail_3
Financial instruments (Details 3) - Dec. 31, 2022 R$ in Thousands, $ in Thousands | USD ($) | BRL (R$) |
United States of America, Dollars | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | $ 5,238,854 | R$ 27334769 |
Later than four years and not later than five years [member] | U S D [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 288,854 | 1,507,154 |
Later than five years and not later than ten years [member] | U S D [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 800,000 | 4,174,160 |
Later than five years and not later than seven years [member] | U S D [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 1,250,000 | 6,522,125 |
Later Than Eight Years And Not Later Than Nine Years [Member] | U S D [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 500,000 | 2,608,850 |
Later than seven years and not later than ten years [member] | U S D [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 800,000 | 4,174,160 |
Later Than Ten Years 1 [Member] | U S D [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | 800,000 | 4,174,160 |
Later than ten years and not later than fifteen years [member] | U S D [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Financial liability maturities nominal value | $ 800,000 | R$ 4174160 |
Financial instruments (Detail_4
Financial instruments (Details 4) - United States of America, Dollars - Future exports member - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Designated balance, beginning | $ 5,238,854 | $ 4,738,854 |
Designations | $ 500,000 |
Financial instruments (Detail_5
Financial instruments (Details 5) R$ in Thousands, $ in Thousands | Dec. 31, 2022 USD ($) Number | Dec. 31, 2022 BRL (R$) Number |
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge gross nominal value | R$ | R$ 1421391 | |
First Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge gross nominal value | R$ | 345,958 | |
Second Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge gross nominal value | R$ | 411,195 | |
Third Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge gross nominal value | R$ | 367,703 | |
Fourth Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge gross nominal value | R$ | R$ 296535 | |
United States of America, Dollars | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge nominal value | $ | $ 719,000 | |
United States of America, Dollars | First Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge nominal value | $ | $ 175,000 | |
Opening foreign exchange rate | 2.0017 | 2.0017 |
Closing foreign exchange rate | 3.9786 | 3.9786 |
United States of America, Dollars | Second Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge nominal value | $ | $ 208,000 | |
Opening foreign exchange rate | 2.0017 | 2.0017 |
Closing foreign exchange rate | 3.9786 | 3.9786 |
United States of America, Dollars | Third Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge nominal value | $ | $ 186,000 | |
Opening foreign exchange rate | 2.0017 | 2.0017 |
Closing foreign exchange rate | 3.9786 | 3.9786 |
United States of America, Dollars | Fourth Quarter [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exports designated for hedge nominal value | $ | $ 150,000 | |
Opening foreign exchange rate | 2.0017 | 2.0017 |
Closing foreign exchange rate | 3.9786 | 3.9786 |
Financial instruments (Detail_6
Financial instruments (Details 6) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | R$ 8647689 |
Exchange variation recorded in the period on OCI / IR and CSL | 1,121,938 |
Exchange variation transferred to profit or loss / IR and CSL | 938,118 |
Ending balance | (6,587,633) |
Exchange variation member | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | (13,102,558) |
Exchange variation recorded in the period on OCI / IR and CSL | 1,699,906 |
Exchange variation transferred to profit or loss / IR and CSL | 1,421,391 |
Ending balance | (9,981,261) |
I r and c s l member | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | 4,454,869 |
Exchange variation recorded in the period on OCI / IR and CSL | (577,968) |
Exchange variation transferred to profit or loss / IR and CSL | (483,273) |
Ending balance | R$ 3393628 |
Financial instruments (Detail_7
Financial instruments (Details 7) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Designated and unrealized sales nominal value | R$ 11687649 |
Later than two years and not later than three years [member] | |
IfrsStatementLineItems [Line Items] | |
Designated and unrealized sales nominal value | 65,221 |
Later than three years and not later than four years [member] | |
IfrsStatementLineItems [Line Items] | |
Designated and unrealized sales nominal value | 117,398 |
Later than four years and not later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Designated and unrealized sales nominal value | 117,398 |
Later than five years and not later than ten years [member] | |
IfrsStatementLineItems [Line Items] | |
Designated and unrealized sales nominal value | 430,460 |
Later than seven years and not later than ten years [member] | |
IfrsStatementLineItems [Line Items] | |
Designated and unrealized sales nominal value | 1,173,983 |
Later than ten years and not later than fifteen years [member] | |
IfrsStatementLineItems [Line Items] | |
Designated and unrealized sales nominal value | 1,173,983 |
Later than fifteen years and not later than twenty years [member] | |
IfrsStatementLineItems [Line Items] | |
Designated and unrealized sales nominal value | 2,739,293 |
Later than twenty years and not later than twenty-five years [member] | |
IfrsStatementLineItems [Line Items] | |
Designated and unrealized sales nominal value | 2,739,293 |
Later Than Thirty Years And Not Later Than Thirtyfive Years [Member] | |
IfrsStatementLineItems [Line Items] | |
Designated and unrealized sales nominal value | 1,565,310 |
Later Than Fourty Years And Not Later Than Fourtyfive Years [Member] | |
IfrsStatementLineItems [Line Items] | |
Designated and unrealized sales nominal value | R$ 1565310 |
Financial instruments (Detail_8
Financial instruments (Details 8) R$ in Thousands, $ in Thousands, $ in Thousands | Dec. 31, 2022 USD ($) Number | Dec. 31, 2022 BRL (R$) Number | Dec. 31, 2022 MXN ($) Number |
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge gross nominal value | R$ | R$ 1421391 | ||
Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge gross nominal value | R$ | 424,003 | ||
First Quarter [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge gross nominal value | R$ | 345,958 | ||
First Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge gross nominal value | R$ | 49,302 | ||
Second Quarter [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge gross nominal value | R$ | 411,195 | ||
Second Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge gross nominal value | R$ | 116,361 | ||
Third Quarter [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge gross nominal value | R$ | 367,703 | ||
Third Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge gross nominal value | R$ | 120,341 | ||
Fourth Quarter [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge gross nominal value | R$ | 296,535 | ||
Fourth Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge gross nominal value | R$ | R$ 137999 | ||
United States of America, Dollars | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ | $ 719,000 | ||
United States of America, Dollars | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | 253,204 | $ 1,645,123 | |
United States of America, Dollars | First Quarter [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ | $ 175,000 | ||
Opening foreign exchange rate | 2.0017 | 2.0017 | 2.0017 |
Closing foreign exchange rate | 3.9786 | 3.9786 | 3.9786 |
United States of America, Dollars | First Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ 29,136 | $ 194,072 | |
Opening foreign exchange rate | 13.6218 | 13.6218 | 13.6218 |
Closing foreign exchange rate | 20.2827 | 20.2827 | 20.2827 |
United States of America, Dollars | Second Quarter [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ | $ 208,000 | ||
Opening foreign exchange rate | 2.0017 | 2.0017 | 2.0017 |
Closing foreign exchange rate | 3.9786 | 3.9786 | 3.9786 |
United States of America, Dollars | Second Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ 72,612 | $ 470,453 | |
Opening foreign exchange rate | 13.6507 | 13.6507 | 13.6507 |
Closing foreign exchange rate | 20.1297 | 20.1297 | 20.1297 |
United States of America, Dollars | Third Quarter [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ | $ 186,000 | ||
Opening foreign exchange rate | 2.0017 | 2.0017 | 2.0017 |
Closing foreign exchange rate | 3.9786 | 3.9786 | 3.9786 |
United States of America, Dollars | Third Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ 72,612 | $ 470,453 | |
Opening foreign exchange rate | 13.6507 | 13.6507 | 13.6507 |
Closing foreign exchange rate | 20.1297 | 20.1297 | 20.1297 |
United States of America, Dollars | Fourth Quarter [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ | $ 150,000 | ||
Opening foreign exchange rate | 2.0017 | 2.0017 | 2.0017 |
Closing foreign exchange rate | 3.9786 | 3.9786 | 3.9786 |
United States of America, Dollars | Fourth Quarter [Member] | Braskem Idesa [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Exports designated for hedge nominal value | $ 78,844 | $ 510,144 | |
Opening foreign exchange rate | 13.6521 | 13.6521 | 13.6521 |
Closing foreign exchange rate | 20.1224 | 20.1224 | 20.1224 |
Financial instruments (Detail_9
Financial instruments (Details 9) - Braskem Idesa [Member] R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | R$ 1561319 |
Exchange variation recorded in the period / IR | 489,774 |
Exchange variation transferred to profit or loss / IR | 296,802 |
Ending balance | (774,743) |
Exchange variation member | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | (2,231,511) |
Exchange variation recorded in the period / IR | 699,677 |
Exchange variation transferred to profit or loss / IR | 424,003 |
Ending balance | (1,107,831) |
I r and c s l member | |
IfrsStatementLineItems [Line Items] | |
Beginning balance | 670,192 |
Exchange variation recorded in the period / IR | (209,903) |
Exchange variation transferred to profit or loss / IR | (127,201) |
Ending balance | R$ 333088 |
Financial instruments (Detai_10
Financial instruments (Details 10) | Dec. 31, 2022 | Dec. 31, 2021 | |
Minimum risk member | |||
IfrsStatementLineItems [Line Items] | |||
Expected credit loss rate | 72.15% | 65.39% | |
Low risk member | |||
IfrsStatementLineItems [Line Items] | |||
Expected credit loss rate | 21.65% | 26.65% | |
Moderate risk member | |||
IfrsStatementLineItems [Line Items] | |||
Expected credit loss rate | 3.36% | 6.02% | |
High risk member | |||
IfrsStatementLineItems [Line Items] | |||
Expected credit loss rate | 2.56% | 1.54% | |
Very high risk member | |||
IfrsStatementLineItems [Line Items] | |||
Expected credit loss rate | [1] | 0.28% | 0.40% |
[1] Clients in this group that are still active buy from Braskem and pay in advance. |
Financial instruments (Detai_11
Financial instruments (Details 11) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | R$ 5793521 | R$ 4559181 | |
Financial assets with risk assessment foreign market | 8,821,089 | 7,589,568 | |
Financial assets with risk assessment | 14,614,610 | 12,148,749 | |
Financial assets without risk assessment domestic market | 83,070 | 27,710 | |
Financial assets without risk assessment foreign market | 81,425 | 13,782 | |
Financial assets without risk assessment | 164,495 | 41,492 | |
Financial assets domestic market | 5,876,591 | 4,586,891 | |
Financial assets foreign market | 8,902,514 | 7,603,350 | |
Financial assets | 14,779,105 | 12,190,241 | |
A a a member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 5,130,140 | 4,080,884 | |
Financial assets with risk assessment foreign market | 2,420,741 | 2,783,151 | |
Financial assets with risk assessment | 7,550,881 | 6,864,035 | |
A a plus member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 162,650 | 109,165 | |
Financial assets with risk assessment | 162,650 | 109,165 | |
A a member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 289,574 | 188,742 | |
Financial assets with risk assessment foreign market | 107,545 | 629,671 | |
Financial assets with risk assessment | 397,119 | 818,413 | |
A a minus member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 149,178 | 63,675 | |
Financial assets with risk assessment | 149,178 | 63,675 | |
A plus member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 3,423 | 5,788 | |
Financial assets with risk assessment foreign market | 4,459,700 | 2,914,269 | |
Financial assets with risk assessment | 4,463,123 | 2,920,057 | |
A member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 57,650 | 107,225 | |
Financial assets with risk assessment foreign market | 1,392,854 | ||
Financial assets with risk assessment | 1,450,504 | 107,225 | |
A minus member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 634 | ||
Financial assets with risk assessment foreign market | 387,478 | 236,335 | |
Financial assets with risk assessment | 387,478 | 236,969 | |
B b b plus member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 118 | 856 | |
Financial assets with risk assessment foreign market | 375 | 38 | |
Financial assets with risk assessment | 493 | 894 | |
B b b member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 788 | 129 | |
Financial assets with risk assessment foreign market | 52,389 | 1,026,104 | |
Financial assets with risk assessment | 53,177 | 1,026,233 | |
B b b minus member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 554 | ||
Financial assets with risk assessment | 554 | ||
B b plus member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 50 | ||
Financial assets with risk assessment | 50 | ||
B b member | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment domestic market | 1,479 | ||
Financial assets with risk assessment | 1,479 | ||
B B Minus [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets with risk assessment foreign market | 7 | ||
Financial assets with risk assessment | 7 | ||
Shares Of Investment Funds [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets without risk assessment domestic market | 1,721 | ||
Other Financial Asset [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial assets without risk assessment domestic market | [1] | 83,070 | 25,989 |
Financial assets without risk assessment foreign market | [1] | 81,425 | 13,782 |
Financial assets without risk assessment | [1] | R$ 164495 | R$ 39771 |
[1] Investments approved by the Management, in accordance with the Financial Policy. |
Financial instruments (Detai_12
Financial instruments (Details 12) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 BRL (R$) | ||
Bond member | Brazilian real u s dollar exchange rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | R$ 37167641 | |
Probable gain (loss) | (372,553) | |
Reasonably possible gain (loss) | (5,051,899) | |
Possible gain (loss) | (15,155,696) | |
Export prepayments member | Brazilian real u s dollar exchange rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (1,028,473) | |
Probable gain (loss) | (10,309) | |
Reasonably possible gain (loss) | (139,792) | |
Possible gain (loss) | (419,376) | |
Export prepayments member | Libor floating interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (35,749) | |
Probable gain (loss) | (887) | |
Reasonably possible gain (loss) | (3,388) | |
Possible gain (loss) | (10,163) | |
Export prepayments member | Selic interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (992,725) | |
Probable gain (loss) | (25,698) | |
Reasonably possible gain (loss) | (195,867) | |
Possible gain (loss) | (587,602) | |
Investment [Member] | Brazilian real u s dollar exchange rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (1,985,932) | |
Probable gain (loss) | (19,906) | |
Reasonably possible gain (loss) | (269,932) | |
Possible gain (loss) | (809,795) | |
Investment [Member] | Libor floating interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (1,985,932) | |
Probable gain (loss) | (63,201) | |
Reasonably possible gain (loss) | (241,339) | |
Possible gain (loss) | (724,017) | |
Sace member | Brazilian real u s dollar exchange rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (1,478,722) | |
Probable gain (loss) | (14,822) | |
Reasonably possible gain (loss) | (200,991) | |
Possible gain (loss) | (602,973) | |
Sace member | Libor floating interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (1,478,722) | |
Probable gain (loss) | (49,107) | |
Reasonably possible gain (loss) | (187,520) | |
Possible gain (loss) | (562,560) | |
Dollar call and put options member | Brazilian real u s dollar exchange rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | 65,370 | [1] |
Probable gain (loss) | 9,809 | [1] |
Reasonably possible gain (loss) | (160,742) | [1] |
Possible gain (loss) | (1,023,396) | [1] |
Dollar swap c d i member | Brazilian real u s dollar exchange rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (151,713) | |
Probable gain (loss) | (6,216) | |
Reasonably possible gain (loss) | (189,181) | |
Possible gain (loss) | (466,381) | |
M o n f o r t e member | Brazilian real u s dollar exchange rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (197,209) | |
Probable gain (loss) | (1,977) | |
Reasonably possible gain (loss) | (26,805) | |
Possible gain (loss) | (80,415) | |
M o n f o r t e member | Libor floating interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (197,209) | |
Probable gain (loss) | (4,094) | |
Reasonably possible gain (loss) | (15,635) | |
Possible gain (loss) | (46,906) | |
Nexi member | Brazilian real u s dollar exchange rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (100,707) | |
Probable gain (loss) | (1,009) | |
Reasonably possible gain (loss) | (13,688) | |
Possible gain (loss) | (41,065) | |
Nexi member | Libor floating interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (100,707) | |
Probable gain (loss) | (3,920) | |
Reasonably possible gain (loss) | (14,970) | |
Possible gain (loss) | (44,909) | |
Other [member] | Brazilian real u s dollar exchange rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (734,837) | |
Probable gain (loss) | (7,366) | |
Reasonably possible gain (loss) | (99,881) | |
Possible gain (loss) | (299,642) | |
Financial investments abroad member | Brazilian real u s dollar exchange rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | 6,718,183 | |
Probable gain (loss) | 67,340 | |
Reasonably possible gain (loss) | 913,149 | |
Possible gain (loss) | 2,739,446 | |
Dollar Swap I P C A [Member] | Brazilian real u s dollar exchange rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | 22,713 | |
Probable gain (loss) | (607) | |
Reasonably possible gain (loss) | (63,356) | |
Possible gain (loss) | (194,841) | |
Dollar Swap I P C A [Member] | I p c a interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | 22,713 | |
Probable gain (loss) | (99,748) | |
Reasonably possible gain (loss) | 31,958 | |
Possible gain (loss) | 99,871 | |
Outros [Member] | Libor floating interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (734,837) | |
Probable gain (loss) | (16,887) | |
Reasonably possible gain (loss) | (64,483) | |
Possible gain (loss) | (193,449) | |
Debentures member | C d i interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (3,052,400) | |
Probable gain (loss) | 302,796 | |
Reasonably possible gain (loss) | (898,725) | |
Possible gain (loss) | (3,331,635) | |
Debentures member | I p c a interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (109,877) | |
Probable gain (loss) | 1,494 | |
Reasonably possible gain (loss) | (2,085) | |
Possible gain (loss) | (6,315) | |
Financial investments in brazil member | C d i interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | 5,876,590 | |
Probable gain (loss) | (80,242) | |
Reasonably possible gain (loss) | 206,257 | |
Possible gain (loss) | 619,489 | |
B N D E S [Member] | I p c a interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (386,534) | |
Probable gain (loss) | 26,403 | |
Reasonably possible gain (loss) | (38,283) | |
Possible gain (loss) | (121,208) | |
B n b f i n e p f u n d e s f i n i s a f i n a m e f n e member | I p c a interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (3,525) | |
Probable gain (loss) | 59 | |
Reasonably possible gain (loss) | (83) | |
Possible gain (loss) | (252) | |
C R A [Member] | I p c a interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (763,396) | |
Probable gain (loss) | 45,429 | |
Reasonably possible gain (loss) | (65,630) | |
Possible gain (loss) | (206,889) | |
Leniency agreement member | Selic interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (865,311) | |
Probable gain (loss) | 6,856 | |
Reasonably possible gain (loss) | (17,443) | |
Possible gain (loss) | (51,656) | |
Export Credit Notes [Member] | Selic interest rate member | ||
IfrsStatementLineItems [Line Items] | ||
Exposure value | (521,926) | |
Probable gain (loss) | (13,571) | |
Reasonably possible gain (loss) | (103,435) | |
Possible gain (loss) | R$ 310306 | |
[1] The Company is in the short position of a possible counterparty call. |
Financial instruments (Detai_13
Financial instruments (Details Narrative) R$ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 BRL (R$) Number | Dec. 31, 2021 BRL (R$) Number | Dec. 31, 2020 BRL (R$) | Dec. 31, 2019 BRL (R$) | Dec. 31, 2017 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |||||
Average export | Number | 88.7 | 17 | |||
Decription of fair value at risk | fair value adjustment that could result in one month as from December 31, 2022, with a probability of 5%, and under normal market conditions, was estimated by the Company at R$129 million (US$24.7 million) for put options and call options (Note 20.5(a.i)) and R$96.7 million (US$18.5 million) for the US dollar swap (Note 20.5(a.ii)) and R$4.5 million (US$872 thousand) for the CRA swap (Note 20.2(a.iii)). | ||||
Put options member | |||||
IfrsStatementLineItems [Line Items] | |||||
Notional amount | R$ 2100 | R$ 10960 | |||
Average export | Number | 4.7 | ||||
Call options member | |||||
IfrsStatementLineItems [Line Items] | |||||
Notional amount | R$ 1400 | 7,300 | |||
Average export | Number | 7.06 | ||||
Future exports member | |||||
IfrsStatementLineItems [Line Items] | |||||
Designated | R$ 2609 | 2,087 | R$ 3131 | R$ 11500 | R$ 6520 |
Hedge accounting discontinued | 2,087 | 1,889 | |||
Hedge accounting discontinued | 1,044 | ||||
Future Exports One [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Designated | R$ 500 | 400 | 600 | R$ 2200 | |
Hedge accounting discontinued | 400 | R$ 362 | |||
Hedge accounting discontinued | R$ 200 |
Taxes payable (Details)
Taxes payable (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Current payables on social security and taxes other than income tax | R$ 491051 | R$ 1012116 |
Non-current payables on social security and taxes other than income tax | 298,026 | 260,497 |
Other countries member | ||
IfrsStatementLineItems [Line Items] | ||
Payables on social security and taxes other than income tax | 789,077 | 1,272,613 |
I p i member | Domestic member | ||
IfrsStatementLineItems [Line Items] | ||
Payables on social security and taxes other than income tax | 74,219 | 131,290 |
I c m s member | Domestic member | ||
IfrsStatementLineItems [Line Items] | ||
Payables on social security and taxes other than income tax | 218,179 | 485,302 |
P i s and c o f i n s member | Domestic member | ||
IfrsStatementLineItems [Line Items] | ||
Payables on social security and taxes other than income tax | 20,406 | 33,516 |
Other [member] | Domestic member | ||
IfrsStatementLineItems [Line Items] | ||
Payables on social security and taxes other than income tax | 103,549 | 46,117 |
Other [member] | Other countries member | ||
IfrsStatementLineItems [Line Items] | ||
Payables on social security and taxes other than income tax | 222,464 | 346,817 |
Value added tax member | Other countries member | ||
IfrsStatementLineItems [Line Items] | ||
Payables on social security and taxes other than income tax | R$ 150260 | R$ 229571 |
Income taxes (Details)
Income taxes (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Income Taxes | ||||
Profit (loss) before income taxes | R$ 47344 | R$ 17961023 | R$ 9683784 | |
Nominal income taxes computed based on Brazilian statutory corporate tax rates (34%) | (16,097) | (6,106,748) | 3,292,487 | |
Permanent adjustments to income taxes calculation basis | ||||
Income taxes on equity in results of investees | 11,849 | 1,578 | 6,595 | |
Thin capitalization | [1] | (359,598) | (6,628) | (695,741) |
Tax benefits (Sudene and PAT) | 137,338 | |||
Reduction of tax loss | (891,669) | |||
Effect of the refund of Braskem America´s tax benefit | (737,841) | |||
Different jurisdictional taxes rates for companies abroad and tax basis | [2] | 1,029,618 | 1,980,358 | 994,811 |
Effect from the retrospective tax rate on bonus depreciation of Braskem America | 334,460 | |||
Taxes on dividends distribution | (454,663) | (265,454) | (131,240) | |
Exclusion of inflation adjustement by Selic on undue tax payments from taxable income | 39,395 | 501,382 | ||
Other permanent adjustments | (226,570) | (241,229) | (395,053) | |
Effect of income taxes on results of operations | (867,735) | (3,999,403) | 2,668,478 | |
Current income taxes | ||||
Current year | (1,003,705) | (3,834,437) | (52,830) | |
Total current expenses | (1,003,705) | (3,834,437) | (52,830) | |
Deferred income taxes | ||||
Origination and reversal of temporary differences | 1,192,438 | (246,294) | 2,677,328 | |
Tax losses | (1,056,468) | 81,328 | 43,980 | |
Total Deferred income taxes | 135,970 | (164,966) | 2,721,308 | |
Total | R$ 867735 | R$ 3999403 | R$ 2668478 | |
Effective rate | 1,832.80% | 22.30% | 27.60% | |
[1] Includes the amount from the adjustment of interest rates in financial operations with subsidiaries in accordance with sub-capitalization tax rules. Besides the differences on tax basis calculation, it includes the impact from the difference between Brazilian tax rate (34%) and the tax rates in countries where the subsidiaries abroad are located, as follows: |
Income taxes (Details 1)
Income taxes (Details 1) | 12 Months Ended |
Dec. 31, 2022 | |
Subsidiary one member | |
IfrsStatementLineItems [Line Items] | |
Headquarters country | Germany |
Official rate | 31.09% |
Subsidiary two member | |
IfrsStatementLineItems [Line Items] | |
Headquarters country | USA |
Official rate | 21% |
Subsidiary three member | |
IfrsStatementLineItems [Line Items] | |
Headquarters country | Argentina |
Official rate | 25% |
Subsidiary four member | |
IfrsStatementLineItems [Line Items] | |
Headquarters country | Chile |
Official rate | 27% |
Subsidiary five member | |
IfrsStatementLineItems [Line Items] | |
Headquarters country | Netherlands |
Official rate | 25.80% |
Subsidiary six member | |
IfrsStatementLineItems [Line Items] | |
Headquarters country | Mexico |
Official rate | 30% |
Subsidiary seven member | |
IfrsStatementLineItems [Line Items] | |
Headquarters country | India |
Official rate | 30% |
Income taxes (Details 2)
Income taxes (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
IfrsStatementLineItems [Line Items] | ||||
Deferred tax assets1 | R$ 6358601 | R$ 8257252 | R$ 8529972 | |
Deferred tax liabilities1 | 1,153,481 | 1,407,434 | 1,234,398 | |
Liabilities category member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 5,999,273 | 5,714,469 | 4,981,691 | |
Ending balance | 53,156 | 686,390 | ||
Other comprehensive income | 231,648 | |||
Impact on the equity | 46,388 | |||
Net member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 5,205,120 | 6,849,818 | 7,295,574 | |
Ending balance | 135,970 | (164,966) | ||
Other comprehensive income | (1,780,668) | |||
Impact on the equity | (280,790) | |||
Asset member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 11,204,393 | 12,564,287 | 12,277,265 | |
Ending balance | 189,126 | 521,424 | ||
Other comprehensive income | (1,549,020) | (234,402) | ||
Tax losses i r and negative base c s l member | Asset member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 2,397,532 | 3,354,716 | 3,278,184 | |
Ending balance | (957,184) | 76,532 | ||
Goodwill amortized member | Asset member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 2,095 | 2,459 | 6,520 | |
Ending balance | (364) | (4,061) | ||
Exchange variations member | Asset member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 3,342,880 | 4,280,062 | 3,817,615 | |
Ending balance | 611,838 | 696,849 | ||
Other comprehensive income | (1,549,020) | (234,402) | ||
Temporary adjustment member | Asset member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 4,647,532 | 4,782,277 | 4,996,337 | |
Ending balance | (134,745) | (214,060) | ||
Temporary adjustment member | Liabilities category member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 420,315 | 88,993 | 158,232 | |
Ending balance | 331,322 | (69,239) | ||
Business combination member | Asset member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 26,884 | 56,211 | ||
Ending balance | (26,884) | (29,327) | ||
Tax credits member | Asset member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | [1] | 697,662 | 77,032 | |
Ending balance | [1] | 697,662 | (77,032) | |
Other [member] | Liabilities category member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 4,826 | 4,826 | 4,827 | |
Ending balance | 29,706 | (46,389) | ||
Other comprehensive income | (29,706) | |||
Impact on the equity | 46,388 | |||
Other [member] | Asset member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 116,692 | 117,889 | 45,366 | |
Ending balance | (1,197) | 72,523 | ||
Amortization of fair value adjustments on the assets from the acquisiton of quattor member | Liabilities category member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 722,433 | 725,097 | 722,222 | |
Ending balance | (2,664) | 2,875 | ||
Tax depreciation member | Liabilities category member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 4,051,462 | 4,176,950 | 3,737,169 | |
Ending balance | (125,488) | 439,781 | ||
Exclusion of i c m s in basis of calculation member | Liabilities category member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 189,649 | 331,479 | ||
Ending balance | (141,830) | |||
Exclusion of i c m s in basis of calculation member | Liabilities category member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 331,479 | |||
Present value adjustment and amortized cost member | Liabilities category member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 423,951 | 154,691 | 79,920 | |
Ending balance | 7,906 | 74,771 | ||
Other comprehensive income | 261,354 | |||
Amortization of fair value adjustments on the assets from the acquisiton of braskem qpar member | Liabilities category member | ||||
IfrsStatementLineItems [Line Items] | ||||
Ending balance | 186,637 | 232,433 | R$ 279321 | |
Ending balance | R$ 45796 | R$ 46888 | ||
[1] Tax credits refer to the income tax paid by subsidiaries abroad, to be used by Braskem S.A. in the coming years. |
Income taxes (Details 3)
Income taxes (Details 3) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Liabilities category member | ||
IfrsStatementLineItems [Line Items] | ||
Tax calculation, liabilities | R$ 5999273 | R$ 5714469 |
IR and CSl offsetting, liabilites | (4,845,792) | (4,307,035) |
Balance, liabilities | R$ 1153481 | 1,407,434 |
Braskem s a member | Liabilities category member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Brazil | |
Tax calculation, liabilities | R$ 2584962 | 2,496,637 |
IR and CSl offsetting, liabilites | R$ 2584962 | (2,496,637) |
Braskem argentina member | Liabilities category member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Chile | |
Tax calculation, liabilities | R$ 16174 | |
IR and CSl offsetting, liabilites | R$ 16174 | |
Braskem america member | Liabilities category member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | USA | |
Tax calculation, liabilities | R$ 1493471 | 1,701,762 |
IR and CSl offsetting, liabilites | (356,598) | (294,328) |
Balance, liabilities | R$ 1136873 | 1,407,434 |
Braskem holanda member | Liabilities category member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Netherlands | |
Tax calculation, liabilities | R$ 39696 | |
IR and CSl offsetting, liabilites | R$ 39696 | |
Braskem Idesa [Member] | Liabilities category member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Mexico | |
Tax calculation, liabilities | R$ 1840669 | 1,506,541 |
IR and CSl offsetting, liabilites | R$ 1840669 | (1,506,541) |
Cetrel member | Liabilities category member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Brazil | |
Tax calculation, liabilities | R$ 5405 | 7,586 |
IR and CSl offsetting, liabilites | R$ 5405 | (7,586) |
D a c member | Liabilities category member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Brazil | |
Tax calculation, liabilities | R$ 2262 | 1,943 |
IR and CSl offsetting, liabilites | R$ 2262 | (1,943) |
Voqen [Member] | Liabilities category member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Brazil | |
Tax calculation, liabilities | R$ 26 | |
IR and CSl offsetting, liabilites | R$ 26 | |
B T C [Member] | Liabilities category member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Netherlands | |
Tax calculation, liabilities | R$ 16608 | |
Balance, liabilities | 16,608 | |
Asset member | ||
IfrsStatementLineItems [Line Items] | ||
Tax calculation, assets | 11,204,393 | 12,564,287 |
IR and CSL offsetting, assets | (5,001,138) | (4,307,035) |
Balance, assets | R$ 6358601 | 8,257,252 |
Asset member | Braskem s a member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Brazil | |
Tax calculation, assets | R$ 8356402 | 8,841,886 |
IR and CSL offsetting, assets | (2,584,962) | (2,496,637) |
Balance, assets | R$ 5771440 | 6,345,249 |
Asset member | Braskem argentina member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Argentina | |
Tax calculation, assets | R$ 21339 | 3,271 |
IR and CSL offsetting, assets | (16,174) | |
Balance, assets | R$ 5165 | 3,271 |
Asset member | Braskem america member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | USA | |
Tax calculation, assets | R$ 356598 | 294,328 |
IR and CSL offsetting, assets | R$ 356598 | (294,328) |
Asset member | Braskem alemanha member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Germany | |
Tax calculation, assets | R$ 23038 | 44,417 |
Balance, assets | R$ 23038 | 44,417 |
Asset member | Braskem chile member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Chile | |
Tax calculation, assets | R$ 47 | 92 |
Balance, assets | R$ 47 | 92 |
Asset member | Braskem holanda member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Netherlands | |
Tax calculation, assets | R$ 195042 | |
IR and CSL offsetting, assets | R$ 39696 | |
Asset member | Braskem Idesa [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Mexico | |
Tax calculation, assets | R$ 2078206 | 3,282,125 |
IR and CSL offsetting, assets | (1,840,669) | (1,506,541) |
Balance, assets | R$ 237537 | 1,775,584 |
Asset member | Braskem idesa servicos member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Mexico | |
Tax calculation, assets | 26 | |
Balance, assets | 26 | |
Asset member | Braskem Mexico Servicos [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Mexico | |
Tax calculation, assets | R$ 13628 | 2,502 |
Balance, assets | R$ 13628 | 2,502 |
Asset member | Braskem Mexico [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Mexico | |
Tax calculation, assets | R$ 86368 | 16,181 |
Balance, assets | R$ 86368 | 16,181 |
Asset member | Cetrel member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Brazil | |
Tax calculation, assets | R$ 39387 | 40,434 |
IR and CSL offsetting, assets | (5,405) | (7,586) |
Balance, assets | R$ 33982 | 32,848 |
Asset member | D a c member | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Brazil | |
Tax calculation, assets | R$ 32617 | 39,025 |
IR and CSL offsetting, assets | (2,262) | (1,943) |
Balance, assets | R$ 30355 | R$ 37082 |
Asset member | Terminal Quimica [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Mexico | |
Tax calculation, assets | R$ 1618 | |
Balance, assets | R$ 1618 | |
Asset member | Voqen [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Headquarters country | Brazil | |
Tax calculation, assets | R$ 103 | |
IR and CSL offsetting, assets | (26) | |
Balance, assets | R$ 77 |
Income taxes (Details Narrative
Income taxes (Details Narrative) - BRL (R$) R$ in Thousands | 1 Months Ended | ||
Aug. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income Taxes | |||
Income taxes current | R$ 392062 | R$ 1189812 | |
Income taxes noncurrent | 252,995 | 230,069 | |
Taxes recoverable | R$ 984400 | ||
Payment of tax incentives | R$ 1038255 | ||
Deferred tax credits | R$ 892000 |
Sundry provisions (Details)
Sundry provisions (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Sundry provisions, current | R$ 1376947 | R$ 1289263 |
Sundry provisions, current | 530,814 | 465,051 |
Sundry provisions, current | 846,133 | 824,212 |
Recovery of environmental damage member | ||
IfrsStatementLineItems [Line Items] | ||
Sundry provisions, current | 1,120,188 | 1,035,426 |
Provision for customers rebates member | ||
IfrsStatementLineItems [Line Items] | ||
Sundry provisions, current | 126,754 | 101,253 |
Other [member] | ||
IfrsStatementLineItems [Line Items] | ||
Sundry provisions, current | R$ 130005 | R$ 152584 |
Sundry provisions (Details 1)
Sundry provisions (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Beginning balance | R$ 1289263 | R$ 874208 |
Additions, monetary adjustments and exchange variation | 503,161 | 835,191 |
Write-offs through usage and payments | (415,477) | (420,136) |
Ending balance | 1,376,947 | 1,289,263 |
Recovery of environmental damage member | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 1,035,426 | 602,490 |
Additions, monetary adjustments and exchange variation | 299,241 | 576,086 |
Write-offs through usage and payments | (214,479) | (143,150) |
Ending balance | 1,120,188 | 1,035,426 |
Rebate member | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 101,253 | 123,465 |
Additions, monetary adjustments and exchange variation | 184,142 | 144,710 |
Write-offs through usage and payments | (158,641) | (166,922) |
Ending balance | 126,754 | 101,253 |
Other [member] | ||
IfrsStatementLineItems [Line Items] | ||
Beginning balance | 152,584 | 148,253 |
Additions, monetary adjustments and exchange variation | 19,777 | 114,395 |
Write-offs through usage and payments | (42,357) | (110,064) |
Ending balance | R$ 130005 | R$ 152584 |
Provisions for legal proceedi_3
Provisions for legal proceedings and contingent liabilities (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Contingencies | R$ 1171498 | R$ 1153830 |
Labor claims member | ||
IfrsStatementLineItems [Line Items] | ||
Contingencies | 212,657 | 268,758 |
Tax claims member | Normal operation member | ||
IfrsStatementLineItems [Line Items] | ||
Contingencies | 735,893 | 715,099 |
Tax claims member | I r and c s l member | Normal operation member | ||
IfrsStatementLineItems [Line Items] | ||
Contingencies | 51,756 | 61,946 |
Tax claims member | P i s and c o f i n s member | Normal operation member | ||
IfrsStatementLineItems [Line Items] | ||
Contingencies | 311,433 | 299,202 |
Tax claims member | I c m s member | Normal operation member | ||
IfrsStatementLineItems [Line Items] | ||
Contingencies | 348,544 | 331,094 |
Tax claims member | Other tax claims member | Normal operation member | ||
IfrsStatementLineItems [Line Items] | ||
Contingencies | 24,160 | 22,857 |
Corporate claims member | ||
IfrsStatementLineItems [Line Items] | ||
Contingencies | 103,387 | 94,826 |
Civil claims and other member | ||
IfrsStatementLineItems [Line Items] | ||
Contingencies | R$ 119561 | R$ 75147 |
Provisions for legal proceedi_4
Provisions for legal proceedings and contingent liabilities (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | R$ 1153830 | R$ 1151087 | |
Additions, inflation adjustments and exchange variation | 274,584 | 309,891 | |
Payments | (69,785) | (117,506) | |
Reversals | [1] | (187,131) | (189,642) |
Ending balance | 1,171,498 | 1,153,830 | |
Labor claims member | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 268,758 | 280,066 | |
Additions, inflation adjustments and exchange variation | 128,682 | 172,574 | |
Payments | (57,750) | (70,968) | |
Reversals | [1] | (127,033) | (112,914) |
Ending balance | 212,657 | 268,758 | |
Tax claims net member | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 715,099 | 692,735 | |
Additions, inflation adjustments and exchange variation | 60,627 | 46,849 | |
Payments | (8,792) | (3,659) | |
Reversals | [1] | (31,041) | (20,826) |
Ending balance | 735,893 | 715,099 | |
Corporate claim member | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 94,826 | 126,057 | |
Additions, inflation adjustments and exchange variation | 9,048 | 14,357 | |
Payments | (40,109) | ||
Reversals | [1] | (487) | (5,479) |
Ending balance | 103,387 | 94,826 | |
Civil claims and other member | |||
IfrsStatementLineItems [Line Items] | |||
Beginning balance | 75,147 | 52,229 | |
Additions, inflation adjustments and exchange variation | 76,227 | 76,111 | |
Payments | (3,243) | (2,770) | |
Reversals | [1] | (28,570) | (50,423) |
Ending balance | R$ 119561 | R$ 75147 | |
[1] A provision reversal occurs when the probability of loss or the value attributed to the lawsuit changes, or the suit is closed with a cash disbursement lower than the provisioned amount. |
Provisions for legal proceedi_5
Provisions for legal proceedings and contingent liabilities (Details 2) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | R$ 26688394 | R$ 22647058 |
Tax claims member | ||
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | 18,270,680 | 17,224,429 |
Civil claims one member | ||
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | 5,489,479 | 2,614,344 |
Civil claims two member | ||
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | 786,441 | 737,083 |
Labor claims member | ||
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | 605,546 | 763,555 |
Environmental claims member | ||
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | 639,880 | 571,057 |
Social security claims member | ||
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | 515,506 | 398,783 |
Other lawsuits member | ||
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | R$ 380862 | R$ 337807 |
Provisions for legal proceedi_6
Provisions for legal proceedings and contingent liabilities (Details Narrative) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Amount of these claims | R$ 194695 | R$ 179370000 |
Amount under discussion | 1,400,000 | 1,300,000 |
Amount of provision for possibility of outflow of resources | 21,000 | 19,000 |
Amount evaluated as possible loss | 262,000 | |
Possible amount chance to loss | R$ 283000 | 257,000 |
I r and c s l member | ||
IfrsStatementLineItems [Line Items] | ||
Percentage amount of the tax deficiency notice | 150% | |
Adjusted amount of uncertain tax treatment | R$ 1200000 | 1,100,000 |
Adjusted amount of uncertain tax estimate | 1,100,000 | 1,100,000 |
Claims with possible chance of loss | 462,000 | 430,000 |
Tax contingent liability [member] | Social security contributions member | ||
IfrsStatementLineItems [Line Items] | ||
Other administrative proceedings | 176,000 | 173,000 |
Tax contingent liability [member] | I r p j and c s l l foreign earned income member | ||
IfrsStatementLineItems [Line Items] | ||
Adjusted amount of uncertain tax treatment | 10,600,000 | 8,800,000 |
Civil claims resale of solvents member | ||
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | 302,000 | 265,000 |
Environmental member | ||
IfrsStatementLineItems [Line Items] | ||
Payment for indemnifiction | 363,000 | 325,000 |
Social security member | ||
IfrsStatementLineItems [Line Items] | ||
Estimated amount | R$ 379000 | 332,000 |
Tax Claims I C M S [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Percentage fine for tax offense | 100% | |
Amounts indicated in tax | R$ 480389 | |
Adjusted value of cases | 639,000 | 587,000 |
Tax Claims I C M S [Member] | P i s and c o f i n s taxes member | ||
IfrsStatementLineItems [Line Items] | ||
Updated value of this proceeding amounted | 967,000 | 910,000 |
Tax Claims I C M S [Member] | Tax contingent liability [member] | ||
IfrsStatementLineItems [Line Items] | ||
Provisions for fine for tax offense | 329,125 | 313,380 |
Claims with possible chance of loss | 768,000 | 756,000 |
P i s and c o f i n s sundry member | ||
IfrsStatementLineItems [Line Items] | ||
Labor claims for health and security cases | 136,000 | 131,000 |
I r r f i r and c s l commission expenses member | Tax contingent liability [member] | ||
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | 153,000 | 142,000 |
Isolated fine failure to ratify d c o m p s member | Tax contingent liability [member] | ||
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | 353,000 | 310,000 |
P i s and c o f i n s d cide fuels tax offset member | Tax contingent liability [member] | ||
IfrsStatementLineItems [Line Items] | ||
Adjusted value of cases | 123,000 | 118,000 |
I r p j c s l l negative balance offset member | Tax contingent liability [member] | ||
IfrsStatementLineItems [Line Items] | ||
Claims with possible chance of loss | R$ 203000 | R$ 187000 |
Leniency agreement with autho_3
Leniency agreement with authorities (Details) - Leniency agreements member R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 BRL (R$) | ||
IfrsStatementLineItems [Line Items] | ||
Settlement amount | R$ 3070578 | |
Federal controller general and attorney generall agreement member | ||
IfrsStatementLineItems [Line Items] | ||
Settlement amount | 877,763 | |
Department of justice member | ||
IfrsStatementLineItems [Line Items] | ||
Settlement amount | 296,591 | [1] |
Swiss office member | ||
IfrsStatementLineItems [Line Items] | ||
Settlement amount | 407,300 | [1] |
Federal prosecution office member | ||
IfrsStatementLineItems [Line Items] | ||
Settlement amount | 1,282,464 | |
Securities and exchange commission member | ||
IfrsStatementLineItems [Line Items] | ||
Settlement amount | R$ 206460 | [1] |
[1] U.S. Department of Justice ("DoJ"); Swiss Office of the Attorney General ("OAG") and U.S. Securities Exchange Commission ("SEC"). |
Leniency agreement with autho_4
Leniency agreement with authorities (Details Narrative) - BRL (R$) R$ in Thousands | 1 Months Ended | 12 Months Ended |
Dec. 31, 2016 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Outstanding amount | R$ 903140 | |
Current liabilities | 392,486 | |
Noncurrent liabilities | 510,654 | |
Leniency agreements member | ||
IfrsStatementLineItems [Line Items] | ||
Settlement liabilities | R$ 3070578 | |
Federal prosecution office and u s swiss authorities member | Leniency agreements member | ||
IfrsStatementLineItems [Line Items] | ||
Settlement liabilities | R$ 3100000 | |
United States of America, Dollars | Federal prosecution office and u s swiss authorities member | Leniency agreements member | ||
IfrsStatementLineItems [Line Items] | ||
Settlement liabilities | R$ 957000 |
Geological event - Alagoas (Det
Geological event - Alagoas (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
IfrsStatementLineItems [Line Items] | ||||
Provision | R$ 1171498 | R$ 1153830 | ||
Alagoas member | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 7,661,259 | 9,175,777 | R$ 3383067 | |
Balance at ending | 6,626,558 | 7,661,259 | 9,175,777 | |
Additions | 1,520,019 | 1,339,765 | 6,901,827 | |
Payments and reclassifications | [1] | (2,742,791) | (2,928,081) | (1,181,931) |
Realization of present value adjustment | 188,071 | 73,798 | 72,814 | |
Balance at ending | 6,626,558 | 7,661,259 | 9,175,777 | |
Current liability | 4,247,609 | 4,378,071 | 4,349,931 | |
Non-current liability | 2,378,949 | 3,283,188 | 4,825,846 | |
Provision | R$ 6626558 | R$ 7661259 | R$ 9175777 | |
[1] Of this amount, R$2,532,138 (2021: R$2,739,686) refers to payments made and R$210,653 (2021: R$188,395) was reclassified to other accounts payable. |
Geological event - Alagoas (D_2
Geological event - Alagoas (Details Narrative) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Description of reparation for social-environmental | allocating R$1,580,000 for the adoption of actions and measures in vacated areas, urban mobility and social compensation actions, of which R$300 million going to indemnification for social damages and collective pain and suffering and possible contingencies related to the actions in the vacated areas and urban mobility actions. The provision amount, updated by inflation index established in the agreement, is R$1,567,842 (2021: R$1,577,186). | |
Lawsuit compensation | R$ 1700000 | |
Key management personnel compensation, share-based payment | R$ 1100000 | |
Description of individual actions | Braskem was defendant in several other actions, that, in aggregate, involve the amount of R$1 billion (2021: R$895 million), filed in Brazil and abroad, seeking the payment of indemnifications directly or indirectly related to the geological event in Maceió. | |
Technical cooperation agreement member | ||
IfrsStatementLineItems [Line Items] | ||
Provision accrued amount | R$ 1367269 | R$ 1691032 |
Description of reparation for residents | Public-Interest Civil Action claiming the payment of indemnification for damages caused to the buildings and the residents of areas affected in the Pinheiro district and surrounding areas, in the total minimum amount of R$6.7 billion, with initial request for provisional measure to freeze the Company’s financial and other assets in the same amount. Successive orders to freeze funds resulted in the court blocking of R$3.7 billion in assets in 2019, and the unfreezing occurred in January 2020. Once the case was sent to the Federal Courts, the Federal Prosecution Office started to participate in the action. | |
Alagoas state federal prosecution office member | Technical cooperation agreement member | ||
IfrsStatementLineItems [Line Items] | ||
Net of adjustment to present value | R$ 2087142 | R$ 3390849 |
Benefits offered to team member
Benefits offered to team members (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | R$ 574036 | R$ 539566 | R$ 436021 |
Health care benefits member | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 243,620 | 235,681 | 197,683 |
Private pension benefits member | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 127,954 | 136,851 | 94,302 |
Transport benefits member | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 86,217 | 77,201 | 66,752 |
Feeding benefits member | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 62,786 | 51,240 | 38,400 |
Life insurance benefits member | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 10,400 | 10,324 | 9,875 |
Training benefits member | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | 27,032 | 15,723 | 14,892 |
Other benefits member | |||
IfrsStatementLineItems [Line Items] | |||
Short-term benefits | R$ 16027 | R$ 12546 | R$ 14117 |
Benefits offered to team memb_2
Benefits offered to team members (Details 1) - R$ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Plan 2019 [Member] | Settlement Methodology Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2019 Plan | ||
Date of grant | Mar. 19, 2019 | ||
End of grace period | 03/19/22 | ||
Settlement Method | Shares | ||
Granted quantities, shares | 417,234 | ||
Shares canceled | (18,802) | (71,905) | |
Quantity of acquisition, shares | 345,329 | ||
Shares exercised | (326,527) | ||
Plan 2019 [Member] | Settlement Methodology Cash [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2019 Plan | ||
Date of grant | Mar. 19, 2019 | ||
End of grace period | 03/19/22 | ||
Settlement Method | Cash | ||
Granted quantities, shares | 82,128 | ||
Shares canceled | (1,297) | (8,433) | |
Quantity of acquisition, shares | 73,695 | ||
Shares exercised | (72,398) | ||
Plan 2020 [Member] | Settlement Methodology Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2020 Plan | ||
Date of grant | Apr. 01, 2020 | ||
End of grace period | 04/01/23 | ||
Settlement Method | Shares | ||
Granted quantities, shares | 1,007,883 | ||
Shares canceled | (72,743) | ||
Quantity of acquisition, shares | 932,767 | 932,767 | |
Shares exercised | (2,373) | ||
Fair value of the share | [1] | R$ 16.27 | |
Plan 2020 [Member] | Settlement Methodology Cash [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2020 Plan | ||
Date of grant | Apr. 01, 2020 | ||
End of grace period | 04/01/23 | ||
Settlement Method | Cash | ||
Granted quantities, shares | 314,333 | ||
Shares canceled | (47,943) | ||
Quantity of acquisition, shares | 266,390 | 266,390 | |
Fair value of the share, value | [1] | R$ 9.67 | |
Plan 2021 [Member] | Settlement Methodology Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2021 Plan | ||
Date of grant | May 10, 2021 | ||
End of grace period | 05/10/24 | ||
Settlement Method | Shares | ||
Granted quantities, shares | 557,888 | ||
Shares canceled | (9,598) | ||
Quantity of acquisition, shares | 548,290 | 548,290 | |
Fair value of the share | [1] | R$ 51.39 | |
Plan 2021 [Member] | Settlement Methodology Cash [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2021 Plan | ||
Date of grant | May 10, 2021 | ||
End of grace period | 05/10/24 | ||
Settlement Method | Cash | ||
Granted quantities, shares | 144,779 | ||
Quantity of acquisition, shares | 144,779 | 144,779 | |
Fair value of the share, value | [1] | R$ 9.67 | |
Plan 2022 [Member] | Settlement Methodology Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2022 Plan | ||
Date of grant | May 17, 2022 | ||
End of grace period | 05/17/25 | ||
Settlement Method | Shares | ||
Granted quantities, shares | 537,870 | ||
Quantity of acquisition, shares | 537,870 | ||
Fair value of the share | [1] | R$ 44.15 | |
Plan 2022 [Member] | Settlement Methodology Cash [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Name of flat | 2022 Plan | ||
Date of grant | May 17, 2022 | ||
End of grace period | 05/17/25 | ||
Settlement Method | Cash | ||
Granted quantities, shares | 132,902 | ||
Quantity of acquisition, shares | 132,902 | ||
Fair value of the share, value | [1] | R$ 9.67 | |
[1] Values in monetary units. |
Benefits offered to team memb_3
Benefits offered to team members (Details 2) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Total obligations | R$ 550356 | R$ 607368 |
Fair value of plan assets | (56,613) | (119,671) |
Consolidated net balance (non-current liabilities) | 493,743 | 487,697 |
Novamont braskem america member | ||
IfrsStatementLineItems [Line Items] | ||
Fair value of plan assets | (54,665) | (117,509) |
Braskem alemanha member | ||
IfrsStatementLineItems [Line Items] | ||
Fair value of plan assets | (1,948) | (2,162) |
Defined benefit member | ||
IfrsStatementLineItems [Line Items] | ||
Total obligations | 228,836 | 363,662 |
Defined benefit member | Novamont braskem america member | ||
IfrsStatementLineItems [Line Items] | ||
Total obligations | 58,221 | 117,509 |
Defined benefit member | Braskem Idesa [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total obligations | 23,053 | 22,960 |
Defined benefit member | Braskem alemanha and braskem holanda member | ||
IfrsStatementLineItems [Line Items] | ||
Total obligations | 147,562 | 223,193 |
Health care plan member | Bradesco saude member | ||
IfrsStatementLineItems [Line Items] | ||
Total obligations | R$ 321520 | R$ 243706 |
Benefits offered to team memb_4
Benefits offered to team members (Details 3) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Balance at beginning of year | R$ 607368 | R$ 587949 | R$ 470417 |
Current service cost | 17,660 | 18,498 | 17,164 |
Interest cost | 27,114 | 21,598 | 23,579 |
Benefits paid | (46,847) | (17,903) | (13,358) |
Actuarial losses (gain) | (18,160) | (9,848) | 2,214 |
Exchange variation | (36,779) | 7,074 | 87,933 |
Balance at the end of the year | 550,356 | 607,368 | 587,949 |
Health insurance member | |||
IfrsStatementLineItems [Line Items] | |||
Balance at beginning of year | 243,706 | 217,089 | 224,852 |
Current service cost | 4,928 | 4,817 | 4,678 |
Interest cost | 20,200 | 15,692 | 17,097 |
Benefits paid | (12,639) | (10,712) | (5,949) |
Actuarial losses (gain) | 65,325 | 16,820 | (23,589) |
Balance at the end of the year | 321,520 | 243,706 | 217,089 |
Benefit plans member | |||
IfrsStatementLineItems [Line Items] | |||
Balance at beginning of year | 363,662 | 370,860 | 245,565 |
Current service cost | 12,732 | 13,681 | 12,486 |
Interest cost | 6,914 | 5,906 | 6,482 |
Benefits paid | (34,208) | (7,191) | (7,409) |
Actuarial losses (gain) | (83,485) | (26,668) | 25,803 |
Exchange variation | (36,779) | 7,074 | 87,933 |
Balance at the end of the year | R$ 228836 | R$ 363662 | R$ 370860 |
Benefits offered to team memb_5
Benefits offered to team members (Details 4) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Benefits Offered To Employees | |||
Balance at beginning of year | R$ 119671 | R$ 115875 | R$ 81342 |
Actual return on plan assets | (25,929) | 722 | 15,791 |
Benefits paid | (32,264) | (5,301) | (4,973) |
Exchange variation | (4,866) | 8,375 | 23,715 |
Balance at the end of the year | R$ 56613 | R$ 119671 | R$ 115875 |
Benefits offered to team memb_6
Benefits offered to team members (Details 5) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Current service cost | R$ 17660 | R$ 18498 | R$ 17164 |
Interest cost | 27,114 | 21,598 | 23,579 |
Actuarial losses | (83,485) | (24,203) | 15,461 |
Amounts recognized in profit and loss | (38,711) | 15,893 | 56,204 |
Health insurance member | |||
IfrsStatementLineItems [Line Items] | |||
Current service cost | 4,928 | 4,817 | 4,678 |
Interest cost | 20,200 | 15,692 | 17,097 |
Amounts recognized in profit and loss | 25,128 | 20,509 | 21,775 |
Benefit plans member | |||
IfrsStatementLineItems [Line Items] | |||
Current service cost | 12,732 | 13,681 | 12,486 |
Interest cost | 6,914 | 5,906 | 6,482 |
Actuarial losses | (83,485) | (24,203) | 15,461 |
Amounts recognized in profit and loss | R$ 63839 | R$ 4616 | R$ 34429 |
Benefits offered to team memb_7
Benefits offered to team members (Details 6) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Health insurance member | |||
IfrsStatementLineItems [Line Items] | |||
Discount rate | 5.97% | 5.33% | 3.99% |
Inflation rate | 3% | 3% | 3.25% |
Aging factor | 2.50% | 2.50% | 2.50% |
Medical inflation | 3.50% | 3.50% | 3.50% |
Duration | 12.83% | 14.16% | 14.99% |
United state of america member | |||
IfrsStatementLineItems [Line Items] | |||
Discount rate | 5.10% | 2.90% | 2.60% |
Mexico [member] | |||
IfrsStatementLineItems [Line Items] | |||
Discount rate | 8% | 8% | 7.25% |
Inflation rate | 4% | 4% | 4% |
Rate of increase in future salary levels | 5% | 5% | 5% |
Germany [member] | |||
IfrsStatementLineItems [Line Items] | |||
Discount rate | 1.20% | 1.20% | 0.70% |
Inflation rate | 2% | 2% | 2% |
Rate of increase in future salary levels | 3% | 3% | 3% |
Rate of increase in future pension plan | 1.75% | 1.75% | 1.75% |
Netherlands [member] | |||
IfrsStatementLineItems [Line Items] | |||
Discount rate | 3.60% | 1.20% | 0.70% |
Inflation rate | 2% | 2% | 2% |
Rate of increase in future salary levels | 3.25% | 3% | 3% |
Rate of increase in future pension plan | 2.25% | 1.75% | 1.75% |
Benefits offered to team memb_8
Benefits offered to team members (Details 7) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Actuarial assumption of discount rates [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Percentage of reasonably possible increase in interest cost actuarial assumption | 1% |
Increase decrease in defined benefit obligation due to reasonably possible increase in cost of service actuarial assumption | R$ 730 |
Increase decrease in defined benefit obligation due to reasonably possible increase in interest cost actuarial assumption | 106 |
Increase decrease in defined benefit obligation due to reasonably possible decrease in cost of service actuarial assumption | (933) |
Increase decrease in defined benefit obligation due to reasonably possible decrease in interest cost actuarial assumption | R$ 11 |
Actuarial assumption of discount rates [member] | Health insurance member | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Premise increase | R$ 32758 |
Premise reduction | R$ 39621 |
Actuarial assumption of discount rates [member] | United states of america [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Premise increase | R$ 5536 |
Premise reduction | R$ 6605 |
Actuarial assumption of discount rates [member] | Mexico [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Premise increase | R$ 1646 |
Premise reduction | R$ 1935 |
Actuarial assumption of discount rates [member] | Germany [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 0.25% |
Premise increase | R$ 5477 |
Premise reduction | R$ 5836 |
Actuarial assumption of discount rates [member] | Netherlands [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 0.25% |
Premise increase | R$ 297 |
Premise reduction | R$ 315 |
Actuarial assumption of expected rates of salary increases [member] | Germany [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 0.50% |
Premise increase | R$ 8604 |
Premise reduction | R$ 8114 |
Actuarial assumption of expected rates of salary increases [member] | Netherlands [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 0.50% |
Premise increase | R$ 468 |
Premise reduction | R$ 442 |
Actuarial assumption of expected rates of pension increases [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Percentage of reasonably possible increase in interest cost actuarial assumption | 1% |
Increase decrease in defined benefit obligation due to reasonably possible increase in cost of service actuarial assumption | R$ 123 |
Increase decrease in defined benefit obligation due to reasonably possible increase in interest cost actuarial assumption | 708 |
Increase decrease in defined benefit obligation due to reasonably possible decrease in cost of service actuarial assumption | (129) |
Increase decrease in defined benefit obligation due to reasonably possible decrease in interest cost actuarial assumption | R$ 741 |
Actuarial assumption of expected rates of pension increases [member] | Health insurance member | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Premise increase | R$ 7740 |
Premise reduction | R$ 8098 |
Actuarial assumption of expected rates of pension increases [member] | Germany [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 0.25% |
Premise increase | R$ 4241 |
Premise reduction | R$ 4115 |
Actuarial assumption of expected rates of pension increases [member] | Netherlands [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 25% |
Premise increase | R$ 231 |
Premise reduction | R$ 224 |
Actuarial assumption of life expectancy after retirement [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Percentage of reasonably possible increase in interest cost actuarial assumption | 1% |
Increase decrease in defined benefit obligation due to reasonably possible increase in cost of service actuarial assumption | R$ 542 |
Increase decrease in defined benefit obligation due to reasonably possible increase in interest cost actuarial assumption | 4,441 |
Increase decrease in defined benefit obligation due to reasonably possible decrease in cost of service actuarial assumption | (464) |
Increase decrease in defined benefit obligation due to reasonably possible decrease in interest cost actuarial assumption | R$ 3602 |
Actuarial assumption of life expectancy after retirement [member] | Health insurance member | |
IfrsStatementLineItems [Line Items] | |
Premise change | 1% |
Premise increase | R$ 48527 |
Premise reduction | (39,355) |
Actuarial assumption of life expectancy after retirement [member] | Germany [member] | |
IfrsStatementLineItems [Line Items] | |
Premise increase | 3,637 |
Premise reduction | R$ 3797 |
Life expectancy | 1 year |
Actuarial assumption of life expectancy after retirement [member] | Netherlands [member] | |
IfrsStatementLineItems [Line Items] | |
Premise increase | R$ 198 |
Premise reduction | R$ 207 |
Life expectancy | 1 year |
Actuarial assumption of mortality rates [member] | United states of america [member] | |
IfrsStatementLineItems [Line Items] | |
Premise change | 10% |
Premise increase | R$ 1681 |
Premise reduction | R$ 1839 |
Benefits offered to employees_2
Benefits offered to employees (Details Narrative) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Benefits Offered To Employees | ||
Fair value, net of taxes | R$ 39413 | R$ 31932 |
Sponsors expenses | 92,208 | 68,744 |
Participants expenses | R$ 77263 | R$ 83599 |
Equity (Details)
Equity (Details) | Dec. 31, 2022 shares | |
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 797,207,834 | |
Percent of shares outstanding | 100% | |
Treasury shares [member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 665,408 | |
Percent of shares outstanding | 0.08% | |
Authorised [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 1,152,937,970 | |
Common shares member | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 451,668,652 | |
Percent of shares outstanding | 100% | |
Common shares member | Authorised [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 535,661,731 | |
Class A Preference Shares [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 345,060,392 | |
Percent of shares outstanding | 100% | |
Class A Preference Shares [Member] | Treasury shares [member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 665,408 | |
Percent of shares outstanding | 0.19% | |
Class A Preference Shares [Member] | Authorised [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 616,682,421 | |
Class B Preference Shares [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 478,790 | |
Percent of shares outstanding | 100% | |
Class B Preference Shares [Member] | Authorised [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 593,818 | |
Novonor member | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 305,517,121 | |
Percent of shares outstanding | 38.32% | |
Novonor member | Common shares member | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 226,334,623 | |
Percent of shares outstanding | 50.11% | |
Novonor member | Class A Preference Shares [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 79,182,498 | |
Percent of shares outstanding | 22.95% | |
Petrobras member | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 288,188,691 | |
Percent of shares outstanding | 36.15% | |
Petrobras member | Common shares member | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 212,426,952 | |
Percent of shares outstanding | 47.03% | |
Petrobras member | Class A Preference Shares [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 75,761,739 | |
Percent of shares outstanding | 21.96% | |
Adrs member | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 42,869,320 | [1] |
Percent of shares outstanding | 5.38% | [1] |
Adrs member | Class A Preference Shares [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 42,869,320 | [1] |
Percent of shares outstanding | 12.42% | [1] |
Other [member] | Common shares member | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 12,907,077 | |
Percent of shares outstanding | 2.86% | |
Other [member] | Class A Preference Shares [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 146,581,427 | |
Percent of shares outstanding | 42.48% | |
Other [member] | Class B Preference Shares [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 478,790 | |
Percent of shares outstanding | 100% | |
Other2 member | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 159,967,294 | |
Percent of shares outstanding | 20.07% | |
Total [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 796,542,426 | |
Percent of shares outstanding | 99.92% | |
Total [Member] | Common shares member | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 451,668,652 | |
Percent of shares outstanding | 100% | |
Total [Member] | Class A Preference Shares [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 344,394,984 | |
Percent of shares outstanding | 99.81% | |
Total [Member] | Class B Preference Shares [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares outstanding | 478,790 | |
Percent of shares outstanding | 100% | |
[1] American Depository Receipt |
Equity (Details 1)
Equity (Details 1) - shares | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
IfrsStatementLineItems [Line Items] | |||
Shares outstanding | 797,207,834 | 797,207,834 | 797,218,554 |
Changes in shares | (10,720) | ||
Treasury shares [member] | |||
IfrsStatementLineItems [Line Items] | |||
Shares outstanding | 665,408 | 902,166 | 1,224,878 |
Changes in shares | (236,758) | (322,712) | |
Total [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Shares outstanding | 796,542,426 | 796,305,668 | 795,993,676 |
Changes in shares | 236,758 | 311,992 | |
Common shares member | |||
IfrsStatementLineItems [Line Items] | |||
Shares outstanding | 451,668,652 | 451,668,652 | 451,668,652 |
Class A Preference Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Shares outstanding | 344,394,984 | 344,158,226 | 343,824,794 |
Changes in shares | 236,758 | 333,432 | |
Class B Preference Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Shares outstanding | 478,790 | 478,790 | 500,230 |
Changes in shares | (21,440) |
Equity (Details 2)
Equity (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | ||
Loss for the year of the Companys shareholders | R$ 335677 | |
SUDENE tax incentive supplement | (108,975) | |
Comprehensive income | 26,883 | R$ 19404 |
Other | 475 | |
Loss for allocation | (417,294) | |
Profit reserves retention of profits | 417,294 | |
Profit Reserves [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Profit reserves retention of profits | R$ 417294 |
Equity (Details Narrative)
Equity (Details Narrative) | 12 Months Ended |
Dec. 31, 2021 shares | |
L T I Program 2018 [Member] | |
IfrsStatementLineItems [Line Items] | |
Shares granted | 322,712 |
Earnings per share (Details)
Earnings per share (Details) - R$ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Profit (loss) for the year attributed to Company's shareholders | (335,677) | 13,984,946 | (6,691,720) |
Profit loss from continuing operations attributable diluted to owners of parent | (335,677) | 13,984,946 | (6,691,720) |
Distribution of priority dividends attributable to basic | 208,864 | ||
Distribution of priority dividends attributable to diluted | 208,864 | ||
Distribution of 6% ??ofunit price of common shares, basic | 273,729 | ||
Distribution of 6% ??ofunit price of common shares, diluted | 273,729 | ||
Distribution of excess profits, by class basic | 13,502,353 | ||
Distribution of excess profits, by class diluted | 13,502,353 | ||
Reconciliation of income available for distribution, by class (numerator), basic | (335,677) | 13,984,946 | (6,691,720) |
Reconciliation of income available for distribution, by class (numerator), diluted | (335,677) | 13,984,946 | (6,691,720) |
Weighted average number of shares, basic | 796,476,912 | 796,223,523 | 795,992,693 |
Weighted average shares diluted | 796,476,912 | 797,218,524 | 797,218,554 |
Class A Preference Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Distribution of priority dividends attributable to basic | 208,574 | ||
Distribution of priority dividends attributable to diluted | 208,574 | ||
Distribution of excess profits, by class basic | 5,838,145 | ||
Distribution of excess profits, by class diluted | 5,838,145 | ||
Reconciliation of income available for distribution, by class (numerator), basic | (145,118) | 6,046,719 | (2,890,445) |
Reconciliation of income available for distribution, by class (numerator), diluted | (145,118) | 6,046,719 | (2,890,444) |
Weighted average number of shares, basic | 344,329,470 | 344,054,700 | 343,823,811 |
Weighted average shares diluted | 344,329,470 | 345,049,701 | 345,049,672 |
Profit (loss) per share, basic | R$ 0.42 | R$ 17.57 | R$ 8.41 |
Profit (loss) per share, diluted | R$ 0.42 | R$ 17.52 | R$ 8.38 |
Amount at beginning of the year | 344,158,226,000 | ||
Incentive long term plan payments with treasury shares | 236,758 | 322,712 | 1,721 |
Amount at the end of the year | 344,394,984,000 | 344,158,226,000 | |
Amount at beginning of the year | 344,158,226,000 | 343,824,794,000 | |
Conversion shares class "B" into shares class "A" | 10,720 | ||
Amount at the end of the year | 344,158,226,000 | 343,824,794,000 | |
Amount at beginning of year | 343,824,794,000 | 343,823,073,000 | |
Amount at the end of the year | 343,824,794,000 | ||
Class A Preference Shares [Member] | Weighted average [member] | |||
IfrsStatementLineItems [Line Items] | |||
Amount at beginning of the year | 344,158,226,000 | ||
Incentive long term plan payments with treasury shares | 171,244 | 229,877 | 738 |
Amount at the end of the year | 344,329,470,000 | 344,158,226,000 | |
Amount at beginning of the year | 344,054,700,000 | 343,824,794,000 | |
Conversion shares class "B" into shares class "A" | 29 | ||
Amount at the end of the year | 344,054,700,000 | 343,824,794,000 | |
Amount at beginning of year | 343,823,811,000 | 343,823,073,000 | |
Amount at the end of the year | 343,823,811,000 | ||
Class B Preference Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Distribution of priority dividends attributable to basic | 290 | ||
Distribution of priority dividends attributable to diluted | 290 | ||
Reconciliation of income available for distribution, by class (numerator), basic | (202) | 290 | (4,205) |
Reconciliation of income available for distribution, by class (numerator), diluted | (202) | 290 | (4,205) |
Weighted average number of shares, basic | 478,790 | 500,171 | 500,230 |
Weighted average shares diluted | 478,790 | 500,171 | 500,230 |
Profit (loss) per share, basic | R$ 0.42 | R$ 0.58 | R$ 8.41 |
Profit (loss) per share, diluted | R$ 0.42 | R$ 0.58 | R$ 8.41 |
Incentive long term plan payments with treasury shares | |||
Amount at beginning of the year | 478,790,000 | 500,230,000 | |
Conversion shares class "B" into shares class "A" | (21,440) | ||
Amount at the end of the year | 478,790,000 | 500,230,000 | |
Class B Preference Shares [Member] | Weighted average [member] | |||
IfrsStatementLineItems [Line Items] | |||
Incentive long term plan payments with treasury shares | |||
Amount at beginning of the year | 500,171,000 | 500,230,000 | |
Conversion shares class "B" into shares class "A" | (59) | ||
Amount at the end of the year | 500,171,000 | 500,230,000 | |
Common shares member | |||
IfrsStatementLineItems [Line Items] | |||
Distribution of excess profits, by class basic | 7,664,208 | ||
Distribution of excess profits, by class diluted | 7,664,208 | ||
Reconciliation of income available for distribution, by class (numerator), basic | (190,357) | 7,937,937 | (3,797,070) |
Reconciliation of income available for distribution, by class (numerator), diluted | (190,357) | 7,937,937 | (3,797,071) |
Weighted average number of shares, basic | 451,668,652 | 451,668,652 | 451,668,652 |
Weighted average shares diluted | 451,668,652 | 451,668,652 | 451,668,652 |
Profit (loss) per share, basic | R$ 0.42 | R$ 17.57 | R$ 8.41 |
Profit (loss) per share, diluted | R$ 0.42 | R$ 17.57 | R$ 8.41 |
Net revenue (Details)
Net revenue (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net Revenue | |||
Net sales and services revenue | R$ 96519284 | R$ 105625201 | R$ 58543494 |
Net revenue (Details 1)
Net revenue (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 96519284 | R$ 105625201 | R$ 58543494 |
Brazil [member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 56,217,472 | 55,830,330 | 32,369,199 |
United states member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 18,085,607 | 24,232,413 | 10,848,609 |
Mexico [member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 4,468,827 | 5,505,893 | 2,765,815 |
A r member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 2,092,700 | 2,068,023 | 1,267,967 |
D E [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,695,009 | 1,912,373 | 1,106,877 |
C H [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,492,922 | 1,230,541 | 633,512 |
I t member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,095,133 | 1,304,113 | 811,787 |
C l member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 870,858 | 1,230,493 | 544,329 |
N l member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 816,678 | 642,844 | 432,897 |
L u member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 756,297 | 987,656 | 592,777 |
S g member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 755,971 | 1,175,133 | 1,183,838 |
P e member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 740,011 | 666,867 | 471,847 |
J p member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 723,757 | 1,162,226 | 618,940 |
E s member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 546,646 | 517,532 | 282,362 |
G b member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 490,801 | 585,766 | 204,953 |
U y member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 469,555 | 495,120 | 405,946 |
P l member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 455,458 | 649,825 | 285,714 |
B o member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 427,237 | 296,138 | 190,447 |
S e member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 401,251 | 481,289 | 310,984 |
C a member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 393,504 | 558,730 | 297,756 |
F r member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 359,946 | 326,570 | 247,062 |
P y member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 316,460 | 318,842 | 254,255 |
C o member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 263,695 | 274,335 | 174,381 |
C n member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 172,656 | 354,071 | 496,920 |
K r member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 159,944 | 669,055 | 360,704 |
Other [member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 2250890 | R$ 2149023 | R$ 1383616 |
Net revenue (Details 2)
Net revenue (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 96519284 | R$ 105625201 | R$ 58543494 |
P e p p member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 61,145,093 | 73,306,089 | 41,137,288 |
Benzene toluene and xylene member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 7,279,584 | 5,819,696 | 3,051,752 |
Ethylene propylene member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 5,819,345 | 6,872,999 | 3,600,276 |
E t b e gasoline member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 5,722,767 | 4,321,371 | 2,170,289 |
P v c caustic soda e d c member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 5,710,838 | 5,806,011 | 3,134,617 |
Butadiene member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 3,028,048 | 3,019,836 | 1,372,428 |
Solvents member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,522,025 | 1,129,484 | 654,793 |
Cumene member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 1,425,097 | 1,342,811 | 636,635 |
Naphtha condensate and crude oil member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 422,359 | 1,648,581 | 915,807 |
Other1 member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 4444130 | R$ 2358324 | R$ 1869609 |
Net revenue (Details Narrative)
Net revenue (Details Narrative) | 12 Months Ended |
Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | |
Percentage of entity's revenue | 10% |
One client member | |
IfrsStatementLineItems [Line Items] | |
Percentage of entity's revenue | 2.40% |
Tax incentives (Details Narrati
Tax incentives (Details Narrative) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Tax Incentives | ||
Percentage of tax reduction | 75% | |
Realization period | 10 years | |
ICMS tax incentives | R$ 425913 | |
ICMS tax incentives | R$ 87415 | R$ 176284 |
Expenses by nature and functi_3
Expenses by nature and function (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Nature member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | R$ 92282059 | R$ 79586298 | R$ 58595988 | ||
Nature member | Raw materials other inputs member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (73,181,706) | (63,570,499) | (37,913,921) | ||
Nature member | Personnel expenses member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (3,223,477) | (3,478,323) | (3,074,305) | ||
Nature member | Outsourced services member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (3,411,818) | (3,193,970) | (2,219,413) | ||
Nature member | Depreciation amortization and depletion member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (4,733,165) | (4,178,433) | (4,048,081) | ||
Nature member | Freights member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (4,034,901) | (2,966,229) | (2,321,740) | ||
Nature member | Costs of idle industrial plants member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (414,441) | (338,987) | (518,528) | ||
Nature member | Provision geological event in alagoas member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (1,520,019) | (1,339,765) | (6,901,828) | ||
Nature member | P i s and c o f i n s credits exclusion of i c m s from the calculation basis member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | 1,031,099 | 310,557 | |||
Nature member | Other Incomes [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | 507,333 | 1,843,153 | 440,192 | ||
Nature member | Other General And Administrative Expenses [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (2,269,865) | (3,394,344) | (2,348,921) | ||
Function member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (92,282,059) | (79,586,298) | [1] | (58,595,988) | [1] |
Function member | Cost of products sold member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (85,160,548) | (73,568,231) | (47,331,414) | ||
Function member | Selling and distribution member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (2,108,417) | (2,055,640) | (1,852,055) | ||
Function member | Loss reversals for impairment of trade accounts receivable member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (38,426) | (8,914) | (55,252) | ||
Function member | General and administrative member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (2,763,983) | (2,522,127) | (1,918,747) | ||
Function member | Research and development member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | (374,493) | (296,583) | (250,648) | ||
Function member | Other income expenses net member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | 507,333 | 1,534,487 | [2] | 750,749 | [2] |
Function member | Other expenses member | |||||
IfrsStatementLineItems [Line Items] | |||||
Expenses, by nature | R$ 2343525 | R$ 2669290 | [1] | R$ 7938621 | [1] |
[1]Mainly refers to provisions for Alagoas in the amount of R$1,520,019 (2021: R$1,339,765 and 2020: R$6,901,828), provisions for reparation of environmental damages in the amount of R$238,700 (2021: R$588,110 and 2020: R$306,275) and financial penalties on sale agreements in the amount of R$22,453 (2021: R$344,902 and 2020: R$4,008).[2] In 2021 and 2020, refers mainly to the final and unappealable decision of lawsuits claiming the exclusion of ICMS from PIS/COFINS calculation base totaling R$1,031,099 and R$310,557, respectively. In 2022, lawsuits with favorable decisions for Braskem claiming the recovery of taxes in the amount of R$123,202, and financial penalty on the feedstock supply agreement in the amount of R$119,576. |
Financial results (Details)
Financial results (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
IfrsStatementLineItems [Line Items] | ||||
Finance income | R$ 2010134 | R$ 1827438 | R$ 600184 | |
Finance costs | (5,662,693) | (5,907,155) | (4,913,365) | |
Gains (losses) on exchange differences on translation of foreign operations, before tax | (572,170) | (4,002,807) | (5,298,711) | |
Finance income (cost) | (4,224,729) | (8,082,524) | (9,611,892) | |
Financial interest income member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance income | 1,049,745 | 439,891 | 310,202 | |
Monetary variations on tax credits member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance income | [1] | 16,489 | 1,041,917 | 170,857 |
Gain On Derivatives [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance income | 635,779 | 246,459 | ||
Other financial income member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance income | 308,121 | 99,171 | 119,125 | |
Financial interest expenses member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance costs | (3,125,206) | (2,922,958) | (2,928,803) | |
Monetary variations on fiscal debts member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance costs | (266,281) | (93,722) | (138,410) | |
Discounts granted member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance costs | (129,249) | (75,677) | (81,920) | |
Loans transaction costs member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance costs | (260,511) | (691,243) | (172,269) | |
Adjustment to present value member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance costs | (580,994) | (179,461) | (225,889) | |
Interest expense on leases member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance costs | (203,257) | (173,536) | (164,166) | |
Losses on derivatives member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance costs | (596,501) | (1,003,502) | (809,150) | |
Other financial expenses member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance costs | (500,694) | (767,056) | (392,758) | |
Financial assets, class [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Gains (losses) on exchange differences on translation of foreign operations, before tax | (522,251) | 230,370 | 336,527 | |
Financial liabilities, class [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Gains (losses) on exchange differences on translation of foreign operations, before tax | R$ 49919 | R$ 4233177 | R$ 5635238 | |
[1] In 2021, R$990,877 refers to the inflation adjustment of lawsuits with final and unappealable decisions related to ICMS exclusion from PIS/COFINS calculation basis (Note 10.b). |
Financial results (Details 1)
Financial results (Details 1) - Number | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
U s dollar brazilian real member | |||
IfrsStatementLineItems [Line Items] | |||
Closing foreign exchange rate | 5.2177 | 5.5805 | |
Closing foreign exchange rate variations | (6.50%) | ||
Average foreign exchange rate | 5.1655 | 5.3956 | 5.1578 |
Average foreign exchange rate variations | (4.26%) | 4.61% | |
Euro brazilian real member | |||
IfrsStatementLineItems [Line Items] | |||
Closing foreign exchange rate | 5.5694 | 6.3210 | |
Closing foreign exchange rate variations | (11.89%) | ||
Average foreign exchange rate | 5.4420 | 6.3784 | 5.8989 |
Average foreign exchange rate variations | (14.68%) | 8.13% | |
Mexican peso brazilian real member | |||
IfrsStatementLineItems [Line Items] | |||
Closing foreign exchange rate | 0.2667 | 0.2730 | |
Closing foreign exchange rate variations | (2.31%) | ||
Average foreign exchange rate | 0.2569 | 0.2660 | 0.2402 |
Average foreign exchange rate variations | (3.44%) | 10.75% | |
U s dollar mexican peso member | |||
IfrsStatementLineItems [Line Items] | |||
Closing foreign exchange rate | 19.5720 | 20.4519 | |
Closing foreign exchange rate variations | (4.30%) | ||
Average foreign exchange rate | 20.1249 | 20.2900 | 21.5098 |
Average foreign exchange rate variations | (0.81%) | (5.67%) | |
U s dollar euro member | |||
IfrsStatementLineItems [Line Items] | |||
Closing foreign exchange rate | 0.9416 | 0.8853 | |
Closing foreign exchange rate variations | 6.36% | ||
Average foreign exchange rate | 0.9510 | 0.8458 | 0.8775 |
Average foreign exchange rate variations | 12.44% | (3.61%) |
Segment information (Details)
Segment information (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Net revenue | R$ 96519284 | R$ 105625201 | R$ 58543494 |
Cost of products sold | (85,160,548) | (73,568,231) | (47,331,414) |
Gross profit | 11,358,736 | 32,056,970 | 11,212,080 |
Selling, general and distribuition expenses | (5,285,319) | (4,883,264) | (4,076,702) |
Other operating income (expenses), net | (1,836,192) | (1,134,803) | (7,187,872) |
Operating profit (loss) | 4,272,073 | 26,043,547 | (71,892) |
Results from equity-accounted investee | 34,848 | 4,644 | (19,398) |
Reporting segments member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 98,334,837 | 108,404,852 | 59,433,852 |
Cost of products sold | (88,251,336) | (76,066,409) | (47,910,490) |
Gross profit | 10,083,501 | 32,338,443 | 11,523,362 |
Selling, general and distribuition expenses | (3,143,118) | (2,980,891) | (2,629,772) |
Other operating income (expenses), net | (1,865,425) | (2,251,483) | (7,529,558) |
Operating profit (loss) | 5,074,958 | 27,106,069 | 1,364,032 |
Reporting segments member | Brazil [member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 69,079,724 | 69,494,923 | 40,794,387 |
Cost of products sold | (63,195,629) | (49,309,552) | (32,498,003) |
Gross profit | 5,884,095 | 20,185,371 | 8,296,384 |
Selling, general and distribuition expenses | (1,853,039) | (1,608,185) | (1,471,722) |
Other operating income (expenses), net | (1,888,999) | (2,210,601) | (7,082,604) |
Operating profit (loss) | 2,142,057 | 16,366,585 | (257,942) |
Reporting segments member | U s a and europe member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 23,421,096 | 32,403,632 | 14,638,660 |
Cost of products sold | (19,986,176) | (23,343,205) | (12,337,486) |
Gross profit | 3,434,920 | 9,060,427 | 2,301,174 |
Selling, general and distribuition expenses | (838,474) | (900,885) | (721,191) |
Other operating income (expenses), net | 56,944 | (25,580) | (82,695) |
Operating profit (loss) | 2,653,390 | 8,133,962 | 1,497,288 |
Reporting segments member | Mexico [member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 5,834,017 | 6,506,297 | 4,000,805 |
Cost of products sold | (5,069,531) | (3,413,652) | (3,075,001) |
Gross profit | 764,486 | 3,092,645 | 925,804 |
Selling, general and distribuition expenses | (451,605) | (471,821) | (436,859) |
Other operating income (expenses), net | (33,370) | (15,302) | (364,259) |
Operating profit (loss) | 279,511 | 2,605,522 | 124,686 |
Other segments member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 402,991 | 363,684 | 302,374 |
Cost of products sold | (262,402) | (233,084) | (188,350) |
Gross profit | 140,589 | 130,600 | 114,024 |
Selling, general and distribuition expenses | 82,498 | 76,830 | 63,874 |
Other operating income (expenses), net | 5,644 | (28,674) | (320) |
Operating profit (loss) | 263,579 | 183,400 | 158,180 |
Results from equity-accounted investee | 34,848 | 4,644 | (19,398) |
Corporate unit member | |||
IfrsStatementLineItems [Line Items] | |||
Selling, general and distribuition expenses | (2,196,506) | (1,963,137) | (1,493,479) |
Other operating income (expenses), net | 19,375 | 1,161,517 | 359,071 |
Operating profit (loss) | (2,177,131) | (801,620) | (1,134,408) |
Braskem consolidated before eliminations and reclassifications member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | 98,737,828 | 108,768,536 | 59,736,226 |
Cost of products sold | (88,513,738) | (76,299,493) | (48,098,840) |
Gross profit | 10,224,090 | 32,469,043 | 11,637,386 |
Selling, general and distribuition expenses | (5,257,126) | (4,867,198) | (4,059,377) |
Other operating income (expenses), net | (1,840,406) | (1,118,640) | (7,170,807) |
Operating profit (loss) | 3,161,406 | 26,487,849 | 387,804 |
Results from equity-accounted investee | 34,848 | 4,644 | (19,398) |
Eliminations and reclassifications member | |||
IfrsStatementLineItems [Line Items] | |||
Net revenue | (2,218,544) | (3,143,335) | (1,192,732) |
Cost of products sold | 3,353,190 | 2,731,262 | 767,426 |
Gross profit | 1,134,646 | (412,073) | (425,306) |
Selling, general and distribuition expenses | (28,193) | (16,066) | (17,325) |
Other operating income (expenses), net | 4,214 | (16,163) | (17,065) |
Operating profit (loss) | R$ 1110667 | R$ 444302 | R$ 459696 |
Segment information (Details 1)
Segment information (Details 1) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Property, plant and equipment and intangible assets | R$ 40785439 | R$ 40102429 |
Reporting segments member | ||
IfrsStatementLineItems [Line Items] | ||
Property, plant and equipment and intangible assets | 40,240,967 | 39,780,192 |
Reporting segments member | Brazil [member] | ||
IfrsStatementLineItems [Line Items] | ||
Property, plant and equipment and intangible assets | 19,428,926 | 18,072,312 |
Reporting segments member | U s a and europe member | ||
IfrsStatementLineItems [Line Items] | ||
Property, plant and equipment and intangible assets | 7,075,743 | 7,688,713 |
Reporting segments member | Mexico [member] | ||
IfrsStatementLineItems [Line Items] | ||
Property, plant and equipment and intangible assets | 13,736,298 | 14,019,167 |
Reporting segments member | Unallocated member | ||
IfrsStatementLineItems [Line Items] | ||
Property, plant and equipment and intangible assets | R$ 544472 | R$ 322237 |
Contractual obligations (Detail
Contractual obligations (Details Narrative) - BRL (R$) | Dec. 31, 2022 | Dec. 31, 2021 |
Energy agreement member | ||
IfrsStatementLineItems [Line Items] | ||
Contractual capital commitments | R$ 8286502 | R$ 6079568 |
Subsequent events (Details Narr
Subsequent events (Details Narrative) R$ in Millions, $ in Billions | 1 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 BRL (R$) | Feb. 28, 2023 BRL (R$) | Dec. 31, 2022 BRL (R$) | Feb. 28, 2023 USD ($) | |
IfrsStatementLineItems [Line Items] | ||||
Gains (losses) on litigation settlements | R$ 1700 | |||
Key management personnel compensation, share-based payment | R$ 1100 | |||
Events after reporting period member | ||||
IfrsStatementLineItems [Line Items] | ||||
Finance issued in bonds | $ | $ 1 | |||
Interest rate | 7.25% | |||
Gains (losses) on litigation settlements | R$ 1700 | |||
Key management personnel compensation, share-based payment | R$ 1100 | |||
Events after reporting period member | Wise [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Equity interest rate | 61.10% | |||
Considerations on share transaction | R$ 138 |