DOEPE 17/03/2017 - Pág. 31 - Poder Executivo - Diário Oficial do Estado de Pernambuco
Recife, 17 de março de 2017
Diário Oficial do Estado de Pernambuco - Poder Executivo
Ano XCIV • NÀ 51 - 31
SER EDUCACIONAL S.A. - CNPJ nº 04.986.320/0001-13
Passivo
(GXFUHG$GPLQLVWGH&UpGLWR(GXFDWLYRH&REUDQoD/WGD
&(7(%$&HQWURGH(QVLQRH7HFQRORJLDGD%DKLD/WGD
6RFLHGDGH(GXFDFLRQDO&DUYDOKR*RPHV/WGD
$'($6RFLHGDGHGH'HVHQYROYLPHQWR(GXFDFLRQDO$YDQoDGR/WGD
6RFLHGDGHGH(QVLQR6XSHULRU3LDXLHQVH/WGD±6,(63,
)01&OLQLFD(VFRODGH)LVLRWHUDSLD3VLFRORJLD(QIHUPDJHPH1XWULomR/WGD
)DFXOGDGH0DXUtFLRGH1DVVDXGH%HOpP/WGD
&HQWURGH(QVLQR6XSHULRU3LDXLHQVH&(63
&HQWURGH(GXFDomR3UR¿VVLRQDO%-/WGD
6RFLHGDGHGH(QVLQR6XSHULRUHGH3HVTXLVDGH6HUJLSH6(636
,QVWLWXWRGH(QVLQR6XSHULRU-XYrQFLR7HUUD/WGD
$%(66RFLHGDGH%DLDQDGH(QVLQR6XSHULRU/WGD
,QVWLWXWRGH3HVTXLVD0DXUtFLRGH1DVVDX
2016
2015
(b) Remuneração do pessoal-chave da administração: 2 SHVVRDOFKDYH GD DGPLQLVWUDomR LQFOXL RV FRQVHOKHLURV H GLUHWRUHV
HVWDWXWiULRVGD&RPSDQKLD$UHPXQHUDomRSDJDRXDSDJDUDRSHVVRDOFKDYHGDDGPLQLVWUDomRHVWiDSUHVHQWDGDDVHJXLU
Controladora
Consolidado
2016
2015
2016
2015
5HPXQHUDomRWRWDOGRSHVVRDOFKDYHGDDGPLQLVWUDomR
(c) Outras transações
Controladora e Consolidado
2016
2015
Despesa (Ativo) / Passivo
Despesa (Ativo) / Passivo
$OXJXpLV2NWXV3DUWLFLSDo}HV/WGD L
&RQVWUXomRGHHGL¿FDo}HV LL
$o}HVVRFLDLV LLL
3XEOLFLGDGHHSURSDJDQGD LY
L $&RPSDQKLD¿UPRX&RQWUDWRGH/RFDomRGH,PyYHLV&RPHUFLDLVFRPDHPSUHVD2NWXV3DUWLFLSDo}HV/WGDGRUDYDQWHGHQRPLQDGD
--3DUWLFLSDo}HV/WGDSHUWHQFHQWHDRDFLRQLVWD-RVp-DQJXLr%H]HUUD'LQL]SHORSUD]RGHGH]DQRVSRGHQGRVHUUHQRYDGRVSRULJXDO
SHUtRGR LL $&RPSDQKLDGHWpPFRQWUDWRVGHFRQVWUXomRHUHIRUPDGHVXDVXQLGDGHVFRPDHPSUHVD9mR/LYUH6$TXHDWp
SHUWHQFLDDRDFLRQLVWDPDMyULWiULRGD&RPSDQKLD-RVp-DQJXLr%H]HUUD'LQL]GHL[DQGRGHVHUSDUWHUHODFLRQDGDDSyVDUHIHULGDGDWD LLL
$&RPSDQKLDPDQWpPR,QVWLWXWR6HU(GXFDFLRQDOXPDLQVWLWXLomRVHP¿QVOXFUDWLYRVFRPRLQWXLWRGHUHDOL]DUDo}HVGHUHVSRQVDELOLGDGH
VRFLDO$OpPGLVVRD&RPSDQKLDGHVHPEROVDUHFXUVRVHVSRUiGLFRVSDUDRGHVHQYROYLPHQWRGHDWLYLGDGHVGHDSRLRSUHVWDGDVQDViUHDV
GHSHVTXLVDH[WHQVmRHDUWHVSHVTXLVDVGHPHUFDGREROVDVGHSHVTXLVDDo}HVLQWHJUDomRFRPXQLWiULDDOpPGHRXWUDVDWLYLGDGHV
2VGLVSrQGLRVHIHWXDGRVHVWmRUHJLVWUDGRVQDVGHVSHVDVGD&RPSDQKLD LY $WpPHDGRVGHD&RPSDQKLDGHWLQKDFRQWUDWRVFRP
DHPSUHVD6LVWHPDGH&RPXQLFDomR/HLD-iHPSUHVDSHUWHQFHQWHDPHPEURVGDIDPtOLDGRDFLRQLVWD-RVp-DQJXLr%H]HUUD'LQL]$V
WUDQVDo}HV FRP HVWD HPSUHVD HQYROYLDP D SUHVWDomR GH VHUYLoRV GH SXEOLFLGDGH H SURSDJDQGD FXMRV YDORUHV IRUDP UHJLVWUDGRV QDV
GHVSHVDVGD&RPSDQKLD$VWUDQVDo}HVHIHWXDGDVHQWUHSDUWHVUHODFLRQDGDVVmRQHJRFLDGDVDYDORUGHPHUFDGR26. Provisão para
contingências: $$GPLQLVWUDomRFRQVXEVWDQFLDGDQDRSLQLmRGHVHXVFRQVXOWRUHVMXUtGLFRVH[WHUQRVFRQVWLWXLXSURYLVmRHPPRQWDQWH
FRQVLGHUDGRVX¿FLHQWHSDUDFREULUDVSHUGDVSRWHQFLDLVFRPHVVDVDo}HVHPFXUVR
Controladora
Consolidado
2016
2015
2016
2015
&tYHO D
7UDEDOKLVWD E
&RQWLQJrQFLDVLQGHQL]DWyULDV G
(a) Cível: $&RPSDQKLDFRPDSRLRGRVVHXVFRQVXOWRUHVMXUtGLFRVHIHWXRXOHYDQWDPHQWRDYDOLDomRHTXDQWL¿FDomRGDVGLYHUVDVDo}HV
GHQDWXUH]DFtYHOSDUDVXSRUWDUDVSURYiYHLVVDtGDVGHUHFXUVRVUHODFLRQDGRVFRPHVVDVFDXVDV$DGPLQLVWUDomRPDQWpPSURYLVmRQR
PRQWDQWHGH5 5 SDUDDFRQWURODGRUDHGH5SDUDRFRQVROLGDGR 5 $VSULQFLSDLVDo}HV
FODVVL¿FDGDVFRPRSHUGDSURYiYHOSRVVXHPQDWXUH]DGHLQGHQL]DomRSRUGDQRVPRUDLVHPDWHULDLVHLQH[LVWrQFLDGHGpELWRVSHUDQWHDV
LQVWLWXLo}HVGD&RPSDQKLD$&RPSDQKLDWDPEpPHIHWXRXOHYDQWDPHQWRDYDOLDomRHTXDQWL¿FDomRGDVGLYHUVDVDo}HVGHQDWXUH]DFtYHO
FODVVL¿FDGDVFRPULVFRGHSHUGDSRVVtYHOSDUDRVTXDLVQmRKiSUHYLVmRFRQVWLWXtGDFXMRYDORUHPGHGH]HPEURGHpGH5
5 SDUDDFRQWURODGRUDHGH5 5 SDUDRFRQVROLGDGRFXMDVSULQFLSDLVDOHJDo}HVVmRREMHWRGDV
FDXVDV L Do}HVSRUQHJDWLYDo}HVLQGHYLGDVHPyUJmRVGHSURWHomRDRFUpGLWRHPDQXWHQomRLQGHYLGDGHQHJDWLYDomR LL Do}HVSRU
GHPRUDQDHPLVVmRGHGLSORPD LLL Do}HVSRUSUREOHPDVQRDGLWDPHQWRPDWUtFXODUHHPEROVR QmRIRUPDomRGHWXUPD HWUDQVIHUrQFLD
GR),(6(b) Trabalhista: $&RPSDQKLDFRPDSRLRGRVVHXVFRQVXOWRUHVMXUtGLFRVHIHWXRXOHYDQWDPHQWRDYDOLDomRHTXDQWL¿FDomRGDV
GLYHUVDVDo}HVGHQDWXUH]DWUDEDOKLVWDSDUDVXSRUWDUDVSURYiYHLVVDtGDVGHUHFXUVRVUHODFLRQDGRVFRPHVVDVFDXVDV$DGPLQLVWUDomR
PDQWpPSURYLVmRQRPRQWDQWHGH5 5 SDUDDFRQWURODGRUDHGH5 5 SDUDRFRQVROLGDGR$GLFLRQDOPHQWHD&RPSDQKLDHIHWXRXOHYDQWDPHQWRDYDOLDomRHTXDQWL¿FDomRGDVGLYHUVDVDo}HVGHQDWXUH]DWUDEDOKLVWDFODVVL¿FDGDV
FRPULVFRGHSHUGDSRVVtYHOSDUDDVTXDLVQmRKiSURYLVmRFRQVWLWXtGD2YDORUHPGHGH]HPEURGHpGH5 5
SDUDDFRQWURODGRUDHGH5 5 SDUDRFRQVROLGDGRFXMDVSULQFLSDLVDOHJDo}HVVmRREMHWRVGDVFDXVDV
KRUDVH[WUDVIpULDVQmRJR]DGDVUHFRQKHFLPHQWRGHYtQFXORHPSUHJDWtFLRHTXLSDUDomRVDODULDOHGLIHUHQoDVVDODULDLVGHFRUUHQWHVGH
UHGXomRGHFDUJDVKRUiULDV(c) Tributário: 2VFRQVXOWRUHVMXUtGLFRVGD&RPSDQKLDHIHWXDUDPOHYDQWDPHQWRDYDOLDomRHTXDQWL¿FDomR
GDVDo}HVGHQDWXUH]DWULEXWiULDHSDUDVXSRUWDUSURYiYHLVSHUGDVFRPHVVDVFDXVDVDDGPLQLVWUDomRQmRPDQWpPSURYLVmRSRLVQmR
KiQHVWDPHVPDGDWDSURFHVVRFRPSHUGDSURYiYHO$GLFLRQDOPHQWHD&RPSDQKLDHIHWXRXOHYDQWDPHQWRDYDOLDomRHTXDQWL¿FDomRGDV
GLYHUVDVDo}HVGHQDWXUH]DWULEXWiULDFODVVL¿FDGDVFRPULVFRGHSHUGDSRVVtYHOSDUDDVTXDLVQmRKiSURYLVmRFRQVWLWXtGD2YDORUHP
GH]HPEURGHpGH5 5 SDUDDFRQWURODGRUDHGH5 5 SDUDRFRQVROLGDGR
'HQWUHDVSULQFLSDLVDo}HVHWULEXWiULDVSRGHPRVGHVWDFDU L 7UDWDVHGH([HFXomR)LVFDODMXL]DGDSHOR
0XQLFtSLRGH%HOpPUHIHUHQWHDFREUDQoDGH,66GHYLGRSRUVXSRVWDSHUGDGDLVHQomRWULEXWiULDGD81(63$$TXHVWmRJLUDHPWRUQRGD
LVHQomRGDWULEXWDomRSHOR,66DWUDYpVGHDXWRUL]DomRFRQIHULGDj81(63$SHORSRGHUS~EOLFRPXQLFLSDODWUDYpVGH'HFUHWR0XQLFLSDO
TXHSRVWHULRUPHQWHUHWLUDUDPDLVHQomRODQoDQGRRFUpGLWRWULEXWiULRUHODWLYRDRV~OWLPRVDQRV$81(63$DMXL]RXDomRDQXODWyULD
WRPEDGDVRERQSDUDDQXODURVDXWRVGHLQIUDomRTXHDR¿PDXWRUL]RXRDMXL]DPHQWRGD([HFXomR)LVFDO
RUDHPFRPHQWR1mRVHLQLFLRXRSUD]RSDUDDGHIHVD HPEDUJRVjH[HFXomR XPDYH]TXHHVWmRDJXDUGDQGRDDFHLWDomRGREHP
RIHUWDGR D SHQKRUD SHOD 81(63$$ FODVVL¿FDomR GH SHUGD DWULEXtGD SHORV DVVHVVRUHV MXUtGLFRV H[WHUQRV p SRVVtYHO QR YDORU GH 5
$SHVDUGDSHUGDSRVVtYHOQmRVHQGRQHFHVViULDDFRQVWLWXLomRGDSURYLVmRDFDXVDHVWiVHQGRFRQVLGHUDGDQRPRQWDQWHGR
SDVVLYRFRQWLQJHQWHRULXQGRGDFRPELQDomRGHQHJyFLRVFRPD81(63$ YLGH1RWD G LL 7UDWDVHGH
SURFHVVRDGPLQLVWUDWLYRSRUGLYHUJrQFLDVHQWUHDVLQIRUPDo}HVSUHVWDGDVVREUHR,PSRVWRGH5HQGD5HWLGRQD)RQWHGRVDQRVFDOHQGiULRVGHH$FODVVL¿FDomRGHULVFRGHSHUGDDWULEXtGDSHORVDVVHVVRUHVMXUtGLFRVH[WHUQRVpSRVVtYHOHRYDORUSRVVtYHO
pGH5 LLL 7UDWDVHGHDomRDQXODWyULDFRQWUDR0XQLFtSLRGR5HFLIHTXHVWLRQDQGRDDXWXDomR
¿VFDOTXHLQFOXLXDVEROVDVGR35281,QDEDVHGHFiOFXORGR,66WHQGRVLGRFRQFHGLGDDOLPLQDUDQWHDRGHSyVLWRLQWHJUDOSDUDVXVSHQGHUDH[LJLELOLGDGHGRFUpGLWRWULEXWiULRDLQGDSHQGHQWHGHMXOJDPHQWR$FODVVL¿FDomRGHULVFRGHSHUGDDWULEXtGDSHORVDVVHVVRUHV
MXUtGLFRVH[WHUQRVpSRVVtYHOHRYDORUSRVVtYHOpGH5(d) Contingências indenizatórias oriundas de combinação de negócios:
'HQWUHDVSULQFLSDLVDo}HVWUDEDOKLVWDVSURYLVLRQDGDVSRGHPRVGHVWDFDUXPSDVVLYRFRQWLQJHQWHLQGHQL]DWyULRQRYDORUGH5UHFRQKHFLGRUHIHUHQWHDSURFHVVRVGR&HQWURGH(QVLQR6XSHULRU3LDXLHQVH/WGD&(63,GD6RFLHGDGHGH(QVLQR6XSHULRU3LDXLHQVH
/WGD±6,(63,HGHVXDVXEVLGLiULD&HQWUR,QWHJUDGRGH(GXFDomR6XSHULRUGR3LDXt/WGDRULXQGRGHFRPELQDomRGHQHJyFLRVRFRUULGD
HP'HQWUHDVSULQFLSDLVDo}HVWULEXWiULDVSURYLVLRQDGDVSRGHPRVGHVWDFDUXPSDVVLYRFRQWLQJHQWHQRYDORUGH5UHFRQKHFLGRUHIHUHQWHjVH[SRVLo}HVWULEXWiULDVGD8QLmRGH(QVLQR6XSHULRUGR3DUi±81(63$HGR,QVWLWXWR6DQWDUHQRGH(QVLQR6XSHULRU
,6(6RULXQGRGHFRPELQDomRGHQHJyFLRVRFRUULGDHP2VDFLRQLVWDVYHQGHGRUHVFRQFRUGDUDPFRQWUDWXDOPHQWHLQGHQL]DUD6HU
(GXFDFLRQDOSHORPRQWDQWHTXHSRGHWRUQDUVHGHYLGRQRTXHGL]UHVSHLWRjVDo}HVDFLPDPHQFLRQDGDV3DUDJDUDQWLUHVVHPRQWDQWH
IRUDP¿[DGRVFRQWUDWXDOPHQWHUHWHQomRGHSDUWHGRVYDORUHVGHFRPSUDHYHQGDGHVFRQWRVHPDOXJXpLVIXWXURVGDVXQLGDGHVHKLSRWHFDVGHLPyYHLVHPIDYRUGD&RPSDQKLD8PDWLYRGHLQGHQL]DomRHTXLYDOHQWHDRYDORUMXVWRGRSDVVLYRLQGHQL]DGRIRLUHFRQKHFLGRSHOD
&RPSDQKLD$OpPGDVDo}HVSURYLVLRQDGDVFRPDWLYRVGHLQGHQL]DomRUHFRQKHFLGRVSHOD&RPSDQKLDWHPRVDLQGDDVVHJXLQWHVFRQWLQJrQFLDVHPGLVFXVVmR L $omRUHODFLRQDGDDRXVRGHOLFHQoDVGHVRIWZDUHGHHQVLQRjGLVWkQFLDFXMRPpULWRDLQGDHVWiHPGLVFXVVmR PRYLGD SHOD HPSUHVD &HQWUR GH (VWUDWpJLD 2SHUDFLRQDO 3URSDJDQGD 3XEOLFLGDGH H &RPpUFLR /WGD FRQWUD D 5HGH %UDVLOHLUD GH
(GXFDomRj'LVWkQFLD ³5%('´ VRFLHGDGHQDTXDOD8QLmRGH(QVLQR6XSHULRUGR3DUi81(63$SRVVXLSDUWLFLSDomRMXQWDPHQWHFRP
RXWUDVQRYHLQVWLWXLo}HVGHHQVLQRGR%UDVLOTXHUHVSRQGHPVROLGDULDPHQWHSHODDomR2YDORUDWXDOPHQWHHPGLVFXVVmRVHPSURYLVmR
FRQWiELOPRQWDD52FRQWUDWRGHFRPSUDHYHQGDGD81(63$SHOR,QVWLWXWR&DPSLQHQVHGH(QVLQR6XSHULRU/WGD ³,&(6´
VXEVLGLiULDGLUHWDGD&RPSDQKLDSUHYrDREULJDomRGHWUDQVIHUrQFLDGDUHIHULGDSDUWLFLSDomRSHORVDFLRQLVWDVYHQGHGRUHVGD81(63$
TXHGHYHULDWHUDFRQWHFLGRDWpDGDWDGRIHFKDPHQWRGDRSHUDomR LL $XWRVGHLQIUDomRSDUDFREUDQoDGHFRQWULEXLo}HVSUHYLGHQFLiULDV
HFRQWULEXLo}HVSDUDHQWLGDGHVHIXQGRVQRSHUtRGRGHMDQHLURGHDGH]HPEURGHQRYDORUGH5GD6RFLHGDGH3DXOLVWDGH(QVLQRH3HVTXLVD 623(3 DWXDOPDQWHQHGRUDGD81*$5HFHLWD)HGHUDOHQWHQGHXTXHDVDWLYLGDGHVH[HUFLGDVSHOD$VVRFLDomR3DXOLVWDGH(GXDomRH&XOWXUD $3(& DQWLJDPDQWHQHGRUDGD81*QmRVHHQTXDGUDYDPQDFDWHJRULDGHQmROXFUDWLYDHDSHVDU
GDWUDQVIHUrQFLDGDPDQWHQoDGD81*WHURFRUULGRVRPHQWHHPMDQHLURGHDXWXRXD623(3GHIRUPDVXEVLGLiULDSHODDXVrQFLDGH
SDJDPHQWRGDVUHIHULGDVFRQWULEXLo}HV LLL 3URFHVVRDGPLQLVWUDWLYRQRTXDOD5HFHLWD)HGHUDOFREUDGD81(63$RVYDORUHVFRPSHQVDGRVDWtWXORGHFRQWULEXLomRSUHYLGHQFLiULDSDWURQDOVREUHYHUEDVLQGHQL]DWyULDVWHUoRGHIpULDVHOLFHQoDVUHODWLYRVDRH[HUFtFLRGH
QRYDORUGH52PpULWRGDOHJDOLGDGHGDH[FOXVmRGDEDVHGHFiOFXORGDFRQWULEXLomRSUHYLGHQFLiULDSDWURQDOGDVUHIHULGDVYHUEDV
HVWiSHQGHQWHGHMXOJDPHQWRQR6XSUHPR7ULEXQDO)HGHUDODJXDUGDQGRGHFLVmRHPUHSHUFXVVmRJHUDO(PDPERVRVFDVRVSRUVH
WUDWDUGHFRQWLQJrQFLDVDQWHULRUHVDDTXLVLomRRFRQWUDWRSUHYrTXHHYHQWXDLVSUHMXt]RVHVWmRJDUDQWLGRVSHODUHWHQomRGRVYDORUHVGH
FRPSUDHYHQGDGHVFRQWRVHPDOXJXpLVIXWXURVGDVXQLGDGHVHKLSRWHFDVGHLPyYHLVHPIDYRUGD&RPSDQKLD2VDGYRJDGRVTXHSDWURFLQDPHVVHVSURFHVVRVIRUDPFRQWUDWDGRVSHORVDFLRQLVWDVYHQGHGRUHVHVmRDFRPSDQKDGRVSHORVDGYRJDGRVGR*UXSR27. Lucro
básico e diluído por ação: 2OXFUREiVLFRSRUDomRpFDOFXODGRPHGLDQWHDGLYLVmRGROXFURDWULEXtYHODRVDFLRQLVWDVGDVRFLHGDGHSHOD
TXDQWLGDGHPpGLDSRQGHUDGDGHDo}HVRUGLQiULDVHPLWLGDVGXUDQWHRSHUtRGR$&RPSDQKLDQmRSRVVXLDo}HVRUGLQiULDVSRWHQFLDLVFRP
HIHLWRVGLOXLGRUHV
2016
2015
/XFURDWULEXtYHODRVDFLRQLVWDVGD&RQWURODGRUD
4XDQWLGDGHPpGLDSRQGHUDGDGHDo}HVRUGLQiULDVHPFLUFXODomR PLOKDUHV
/XFUREiVLFRHGLOXtGRSRUDomR5
28. Seguros: $VFREHUWXUDVGHVHJXURVHPGHGH]HPEURGHIRUDPFRQWUDWDGDVSHORVPRQWDQWHVDVHJXLULQGLFDGRVFRQVRDQWH
DSyOLFHVGHVHJXURV
Ramos
Importâncias seguradas
,QFrQGLRGHEHQVGRLPRELOL]DGR 3UpGLRV&RQWH~GRV
5
$FLGHQWHLQFrQGLRHTXHGD&DVFRDHURQiXWLFR
86
$FLGHQWHLQFrQGLRHTXHGD5(7$DHURQiXWLFR
5
5HVSRQVDELOLGDGHFLYLOGHIXQFLRQiULRVHWHUFHLURV
5
,QFrQGLR7HUFHLURV&DVFRGH9HtFXOROHYHVHSHVDGRV
)LSH
5HVSRQVDELOLGDGHFLYLOGRVDGPLQLVWUDGRUHV
5
Seção F - Políticas contábeis: 29. Resumo das políticas contábeis: $VSULQFLSDLVSROtWLFDVFRQWiEHLVDSOLFDGDVQDSUHSDUDomRGHVVDVGHPRQVWUDo}HV¿QDQFHLUDVHVWmRGH¿QLGDVDEDL[R(VVDVSROtWLFDVIRUDPDSOLFDGDVGHPRGRFRQVLVWHQWHQRVH[HUFtFLRVDSUHVHQWDGRVVDOYRGLVSRVLomR
HPFRQWUiULR29.1. Consolidação$VVHJXLQWHVSROtWLFDVFRQWiEHLVVmRDSOLFDGDVQDHODERUDomRGDVGHPRQVWUDo}HV¿QDQFHLUDVFRQVROLGDGDV(a)
Controladas: &RQWURODGDVVmRWRGDVDVHQWLGDGHV LQFOXLQGRDVHQWLGDGHVHVWUXWXUDGDV QDVTXDLVR*UXSRGHWpPRFRQWUROH$VFRQWURODGDVVmR
WRWDOPHQWHFRQVROLGDGDVDSDUWLUGDGDWDHPTXHRFRQWUROHpWUDQVIHULGRSDUDR*UXSR$FRQVROLGDomRpLQWHUURPSLGDDSDUWLUGDGDWDHPTXHR
*UXSRGHL[DGHWHURFRQWUROH2VDWLYRVLGHQWL¿FiYHLVDGTXLULGRVHRVSDVVLYRVHSDVVLYRVFRQWLQJHQWHVDVVXPLGRVSDUDDDTXLVLomRGHFRQWURODGDV
HPXPDFRPELQDomRGHQHJyFLRVVmRPHQVXUDGRVLQLFLDOPHQWHSHORVYDORUHVMXVWRVQDGDWDGDDTXLVLomR2*UXSRUHFRQKHFHDSDUWLFLSDomRQmR
FRQWURODGRUDQDDGTXLULGDWDQWRSHORVHXYDORUMXVWRFRPRSHODSDUFHODSURSRUFLRQDOGDSDUWLFLSDomRQmRFRQWURODGDQRYDORUMXVWRGHDWLYRVOtTXLGRVGDDGTXLULGD$PHQVXUDomRGDSDUWLFLSDomRQmRFRQWURODGRUDpGHWHUPLQDGDHPFDGDDTXLVLomRUHDOL]DGD&XVWRVUHODFLRQDGRVFRPDTXLVLomR
VmRFRQWDELOL]DGRVQRUHVXOWDGRGRH[HUFtFLRFRQIRUPHLQFRUULGRV7UDQVDo}HVVDOGRVHJDQKRVQmRUHDOL]DGRVHPWUDQVDo}HVHQWUHHPSUHVDVGR
*UXSRVmRHOLPLQDGRV2VSUHMXt]RVQmRUHDOL]DGRVWDPEpPVmRHOLPLQDGRVDPHQRVTXHDRSHUDomRIRUQHoDHYLGrQFLDVGHXPDSHUGD impairment GRDWLYRWUDQVIHULGR$VSROtWLFDVFRQWiEHLVGDVFRQWURODGDVVmRDOWHUDGDVTXDQGRQHFHVViULRSDUDDVVHJXUDUDFRQVLVWrQFLDFRPDVSROtWLFDVDGRWDGDVSHOR*UXSR29.2. Caixa e equivalentes de caixa: &DL[DHHTXLYDOHQWHVGHFDL[DLQFOXHPRFDL[DRVGHSyVLWRVEDQFiULRVHRXWURV
LQYHVWLPHQWRVGHFXUWRSUD]RGHDOWDOLTXLGH]FRPYHQFLPHQWRVRULJLQDLVGHDWpWUrVPHVHVHFRPULVFRLQVLJQL¿FDQWHGHPXGDQoDGHYDORU29.3.
$WLYRV¿QDQFHLURV&ODVVL¿FDomR2*UXSRFODVVL¿FDVHXVDWLYRV¿QDQFHLURVQRUHFRQKHFLPHQWRLQLFLDOVREDVVHJXLQWHVFDWHJRULDV
PHQVXUDGRVDRYDORUMXVWRSRUPHLRGRUHVXOWDGRHHPSUpVWLPRVHUHFHEtYHLV$FODVVL¿FDomRGHSHQGHGD¿QDOLGDGHSDUDDTXDORVDWLYRV¿QDQFHLURVIRUDPDGTXLULGRV$WLYRV¿QDQFHLURVDRYDORUMXVWRSRUPHLRGRUHVXOWDGR2VDWLYRV¿QDQFHLURVDRYDORUMXVWRSRUPHLRGRUHVXOWDGRVmRDWLYRV¿QDQFHLURVPDQWLGRVSDUDQHJRFLDomR8PDWLYR¿QDQFHLURpFODVVL¿FDGRQHVVDFDWHJRULDVHIRLDGTXLULGRSULQFLSDOPHQWHSDUD
¿QVGHYHQGDQRFXUWRSUD]R2VDWLYRVGHVVDFDWHJRULDVmRFODVVL¿FDGRVFRPRDWLYRVFLUFXODQWHVHHVWmRDSUHVHQWDGRVQD1RWD29.3.3. Empréstimos e recebíveis: 2VHPSUpVWLPRVHUHFHEtYHLVVmRDWLYRV¿QDQFHLURVQmRGHULYDWLYRVFRPSDJDPHQWRV¿[RVRXGHWHUPLQiYHLVTXHQmR
VmRFRWDGRVHPXPPHUFDGRDWLYR6mRDSUHVHQWDGRVFRPRDWLYRFLUFXODQWHH[FHWRDTXHOHVFRPSUD]RGHYHQFLPHQWRVXSHULRUDPHVHVDSyV
DGDWDGHHPLVVmRGREDODQoR HVWHVVmRFODVVL¿FDGRVFRPRDWLYRVQmRFLUFXODQWHV 2VHPSUpVWLPRVHUHFHEtYHLVGR*UXSRFRPSUHHQGHP³&RQWDVDUHFHEHUGHFOLHQWHVHGHPDLVFRQWDVDUHFHEHU´H³&DL[DHHTXLYDOHQWHVGHFDL[D´ 1RWDVH 29.3.4. Reconhecimento e mensuração: $VFRPSUDVHDVYHQGDVGHDWLYRV¿QDQFHLURVVmRQRUPDOPHQWHUHFRQKHFLGDVQDGDWDGDQHJRFLDomR2VLQYHVWLPHQWRVVmRLQLFLDOPHQWH
UHFRQKHFLGRVSHORYDORUMXVWRDFUHVFLGRVGRVFXVWRVGDWUDQVDomRSDUDWRGRVRVDWLYRV¿QDQFHLURVQmRFODVVL¿FDGRVFRPRDRYDORUMXVWRSRUPHLR
GRUHVXOWDGR2VDWLYRV¿QDQFHLURVDRYDORUMXVWRSRUPHLRGHUHVXOWDGRVmRLQLFLDOPHQWHUHFRQKHFLGRVSHORYDORUMXVWRHRVFXVWRVGDWUDQVDomR
VmRGHELWDGRVjGHPRQVWUDomRGRUHVXOWDGR2VDWLYRV¿QDQFHLURVVmREDL[DGRVTXDQGRRVGLUHLWRVGHUHFHEHUÀX[RVGHFDL[DWHQKDPYHQFLGRRX
WHQKDPVLGRWUDQVIHULGRVQHVWH~OWLPRFDVRGHVGHTXHR*UXSRWHQKDWUDQVIHULGRVLJQL¿FDWLYDPHQWHWRGRVRVULVFRVHRVEHQHItFLRVGHSURSULHGDGH2VDWLYRV¿QDQFHLURVPHQVXUDGRVDRYDORUMXVWRSRUPHLRGRUHVXOWDGRVmRVXEVHTXHQWHPHQWHFRQWDELOL]DGRVSHORYDORUMXVWR2VHPSUpVWLPRVHUHFHEtYHLVVmRFRQWDELOL]DGRVLQLFLDOPHQWHSHORYDORUMXVWRHVXEVHTXHQWHPHQWHSHORFXVWRDPRUWL]DGRXVDQGRRPpWRGRGDWD[DHIHWLYD
GHMXURV2VJDQKRVRXDVSHUGDVGHFRUUHQWHVGHYDULDo}HVQRYDORUMXVWRGHDWLYRV¿QDQFHLURVPHQVXUDGRVDRYDORUMXVWRSRUPHLRGRUHVXOWDGR
VmRDSUHVHQWDGRVQDGHPRQVWUDomRGRUHVXOWDGRHP³2XWUDVGHVSHVDVRSHUDFLRQDLVOtTXLGDV´QRSHUtRGRHPTXHRFRUUHP2VYDORUHVMXVWRVGRV
LQYHVWLPHQWRVFRPFRWDomRS~EOLFDVmREDVHDGRVQRVSUHoRVDWXDLVGHFRPSUD6HRPHUFDGRGHXPDWLYR¿QDQFHLUR HGHWtWXORVQmROLVWDGRVHP
%ROVD QmRHVWLYHUDWLYRR*UXSRHVWDEHOHFHRYDORUMXVWRDWUDYpVGHWpFQLFDVGHDYDOLDomR(VVDVWpFQLFDVLQFOXHPRXVRGHRSHUDo}HVUHFHQWHV
FRQWUDWDGDVFRPWHUFHLURVUHIHUrQFLDDRXWURVLQVWUXPHQWRVTXHVmRVXEVWDQFLDOPHQWHVLPLODUHVDQiOLVHGHÀX[RVGHFDL[DGHVFRQWDGRVHPRGHORVGHSUHFL¿FDomRGHRSo}HVTXHID]HPRPDLRUXVRSRVVtYHOGHLQIRUPDo}HVJHUDGDVSHORPHUFDGRHFRQWDPRPtQLPRSRVVtYHOFRPLQIRUPDo}HVJHUDGDVSHODDGPLQLVWUDomRGDSUySULDHQWLGDGH&RPSHQVDomRGHLQVWUXPHQWRV¿QDQFHLURV$WLYRVHSDVVLYRV¿QDQFHLURVVmR
FRPSHQVDGRVHRYDORUOtTXLGRpDSUHVHQWDGRQREDODQoRSDWULPRQLDOTXDQGRKiXPGLUHLWROHJDOGHFRPSHQVDURVYDORUHVUHFRQKHFLGRVHKiD
LQWHQomRGHOLTXLGiORVHPXPDEDVHOtTXLGDRXUHDOL]DURDWLYRHOLTXLGDURSDVVLYRVLPXOWDQHDPHQWH2GLUHLWROHJDOQmRGHYHVHUFRQWLQJHQWHHP
HYHQWRVIXWXURVHGHYHVHUDSOLFiYHOQRFXUVRQRUPDOGRVQHJyFLRVHQRFDVRGHLQDGLPSOrQFLDLQVROYrQFLDRXIDOrQFLDGDHPSUHVDRXFRQWUDSDUWH29.4. Contas a receber de clientes$VFRQWDVDUHFHEHUVmRGHFRUUHQWHVGDSUHVWDomRGHVHUYLoRVGHDWLYLGDGHVGHHQVLQRHQmRLQFOXHP
PRQWDQWHVGHVHUYLoRVSUHVWDGRVDSyVDVGDWDVGRVEDODQoRV2VVHUYLoRVDUUHFDGDGRVHDLQGDQmRSUHVWDGRVQDVGDWDVGRVEDODQoRVVmR
FRQWDELOL]DGRVFRPRPHQVDOLGDGHVUHFHELGDVDQWHFLSDGDPHQWHHVmRUHFRQKHFLGRVQRUHVSHFWLYRUHVXOWDGRGRH[HUFtFLRGHDFRUGRFRPRUHJLPH
GHFRPSHWrQFLD$VFRQWDVDUHFHEHUGHFOLHQWHVVmRLQLFLDOPHQWHUHFRQKHFLGDVSHORYDORUMXVWRHVXEVHTXHQWHPHQWHPHQVXUDGDVSHORFXVWR
DPRUWL]DGRFRPRXVRGRPpWRGRGDWD[DHIHWLYDGHMXURVPHQRVDSURYLVmRSDUDFUpGLWRVGHOLTXLGDomRGXYLGRVD ³LPSDLUPHQW´ 29.5 Provisão
para crédito de liquidação duvidosaeDSUHVHQWDGDFRPRUHGXomRGDVFRQWDVDUHFHEHUHpFRQVWLWXtGDHPPRQWDQWHFRQVLGHUDGRVX¿FLHQWH
SHOD$GPLQLVWUDomRSDUDID]HUIDFHDHYHQWXDLVSHUGDVQDUHDOL]DomRGDVFRQWDVDUHFHEHUGHFRUUHQWHVGHPHQVDOLGDGHVHGHFKHTXHVDUHFHEHU
FRQVLGHUDQGRRVULVFRVHQYROYLGRVeFDOFXODGDSHODDGPLQLVWUDomRTXDQGRH[LVWHHYLGrQFLDREMHWLYDGHSHUGDFRQVLGHUDQGRRÀX[RGHFDL[DHVSHUDGRGHVFRQWDGRSHODWD[DHIHWLYDGHMXURV,QYHVWLPHQWRVHPFRQWURODGDV DSOLFiYHOVRPHQWHSDUDDVGHPRQVWUDo}HV¿QDQFHLUDV
individuais) 2V LQYHVWLPHQWRV HP HPSUHVDV FRQWURODGDV QDV GHPRQVWUDo}HV ¿QDQFHLUDV GD FRQWURODGRUD HVWmR UHJLVWUDGRV SHOR PpWRGR GD
HTXLYDOrQFLDSDWULPRQLDO$SDUWLFLSDomRVRFLHWiULDHPFRQWURODGDVpDSUHVHQWDGDQDGHPRQVWUDomRGRUHVXOWDGRGDFRQWURODGRUDFRPRHTXLYDOrQFLDSDWULPRQLDOUHSUHVHQWDQGRROXFUROtTXLGRDWULEXtYHODRVDFLRQLVWDVGDFRQWURODGD1DVGHPRQVWUDo}HVFRQWiEHLVLQGLYLGXDLVRiJLRSRUH[SHFWDWLYDGHUHQWDELOLGDGHIXWXUDJRRGZLOOpDSUHVHQWDGRFRPRSDUWHGRLQYHVWLPHQWR2VPHVPRVDMXVWHVIHLWRVQDVGHPRQVWUDo}HV¿QDQFHLUDV
FRQVROLGDGDVVmRIHLWRVQDVGHPRQVWUDo}HV¿QDQFHLUDVLQGLYLGXDLVSDUDVHFKHJDUDRVPHVPRVYDORUHVGHSDWULP{QLROtTXLGRHUHVXOWDGR29.7
Ativos intangíveis: (a) Ágio: 2iJLR JRRGZLOO pUHSUHVHQWDGRSHODGLIHUHQoDSRVLWLYDHQWUHRYDORUMXVWRSDJRHRXDSDJDUSHODDTXLVLomRGHXP
QHJyFLRHRPRQWDQWHOtTXLGRGRYDORUMXVWRGRVDWLYRVHSDVVLYRVGDFRQWURODGDDGTXLULGD2iJLRGHDTXLVLo}HVGHFRQWURODGDVpUHJLVWUDGRFRPR
³$WLYRLQWDQJtYHO´QRFRQVROLGDGR2iJLRpWHVWDGRDQXDOPHQWHSDUDYHUL¿FDUSHUGDV LPSDLUPHQW ÈJLRpFRQWDELOL]DGRSHORVHXYDORUGHFXVWR
PHQRVDVSHUGDVDFXPXODGDVSRULPSDLUPHQW3HUGDVSRULPSDLUPHQWUHFRQKHFLGDVVREUHiJLRQmRVmRUHYHUWLGDV2VJDQKRVHDVSHUGDVGD
DOLHQDomRGHXPDHQWLGDGHLQFOXHPRYDORUFRQWiELOGRiJLRUHODFLRQDGRFRPDHQWLGDGHYHQGLGD(b) Carteira de alunos: As relações contratuais
FRPDOXQRVDGTXLULGDVHPXPDFRPELQDomRGHQHJyFLRVVmRUHFRQKHFLGDVSHORYDORUMXVWRQDGDWDGDDTXLVLomR$VUHODo}HVFRQWUDWXDLVWrP
YLGD~WLOGH¿QLGDHVmRFRQWDELOL]DGDVSHORVHXYDORUGHFXVWRPHQRVDDPRUWL]DomRDFXPXODGD$DPRUWL]DomRpFDOFXODGDXVDQGRRPpWRGROLQHDUGXUDQWHRSHUtRGRHVSHUDGRGDUHODomRFRPRDOXQR(c) Licenças e implantações de softwares: As licenças de softwaresVmRFDSLWDOL]DGDV
FRPEDVHQRVFXVWRVLQFRUULGRVSDUDDGTXLULURVsoftwaresHID]HUFRPTXHHOHVHVWHMDPSURQWRVSDUDVHUHPXWLOL]DGRV(VVHVFXVWRVVmRDPRUWL]DGRVGXUDQWHDYLGD~WLOHVWLPDGDGRVsoftwaresGHWUrVDFLQFRDQRV Os custos associados à manutenção de softwaresVmRUHFRQKHFLGRVFRPR
GHVSHVDFRQIRUPHLQFRUULGRV2XWURVJDVWRVGHGHVHQYROYLPHQWRTXHQmRDWHQGDPDHVVHVFULWpULRVVmRUHFRQKHFLGRVFRPRGHVSHVDFRQIRUPH
LQFRUULGRV2VFXVWRVGHGHVHQYROYLPHQWRSUHYLDPHQWHUHFRQKHFLGRVFRPRGHVSHVDQmRVmRUHFRQKHFLGRVFRPRDWLYRHPSHUtRGRVXEVHTXHQWH
Os custos de desenvolvimento de softwaresUHFRQKHFLGRVFRPRDWLYRVVmRDPRUWL]DGRVGXUDQWHVXDYLGD~WLOHVWLPDGDQmRVXSHULRUDWUrVDQRV
(d) Credenciamento e Licenças de operação:2VFUHGHQFLDPHQWRVHDVOLFHQoDVGHRSHUDomRVmRFDSLWDOL]DGRVFRPEDVHQRVJDVWRVLQFRUULGRV
MXQWRDR0LQLVWpULRGH(GXFDomRUHIHUHQWHVjDXWRUL]DomRHDRUHFRQKHFLPHQWRGRVFXUVRVRIHUHFLGRVDVVLPFRPRUHFUHGHQFLDPHQWRGDV8QLGDGHV2VFUHGHQFLDPHQWRVHDVOLFHQoDVWrPYLGD~WLOGH¿QLGDHVmRFRQWDELOL]DGDVSHORVHXYDORUGHFXVWRPHQRVDDPRUWL]DomRDFXPXODGD$
DPRUWL]DomRpFDOFXODGDXVDQGRRPpWRGROLQHDUGXUDQWHRSHUtRGRGHYLJrQFLDGDVOLFHQoDVREWLGDVMXQWRDR0LQLVWpULRGD(GXFDomR(e) Conteúdo Digital:2&RQWH~GR'LJLWDOpFDSLWDOL]DGRFRPEDVHQRVFXVWRVLQFRUULGRVSDUDDGTXLULUGLUHLWRVGHXVRGHFRQWH~GRVGLJLWDLVDVHUHPXWLOL]DGRVQDSUHVWDomRGHVHUYLoRGD&RPSDQKLD(VVHVFXVWRVVmRDPRUWL]DGRVGXUDQWHRSUD]RGRFRQWUDWR(f) Convênios: 2VFRQYrQLRVVmRFDSLWDOL]DGRVFRPEDVHQRVFXVWRVLQFRUULGRVSDUD¿UPDUFRQWUDWRVMXQWRDHPSUHVDVSDUFHLUDVTXHFRQ¿UDPDRVDOXQRVGR*UXSRRGLUHLWRGHH[HUFHU
DVDWLYLGDGHVGHJUDGXDomRFRPSOHPHQWDUHVQHFHVViULDVSDUDVXDIRUPDomRDFDGrPLFD(VVHVFXVWRVVmRDPRUWL]DGRVGXUDQWHRSUD]RGRV
UHIHULGRVFRQWUDWR(g) Fundo de comércio: 6mRDWLYRVLQWDQJtYHLVFRPSUD]RGHYLGD~WLOGH¿QLGDUHSUHVHQWDGRVSRUYDORUHVSDJRVQDDTXLVLomR
GHQRYRVSRQWRVFRPHUFLDLV IXQGRGHFRPpUFLR 6mRDPRUWL]DGRVOLQHDUPHQWHGHDFRUGRFRPRSUD]RGRFRQWUDWRGHDOXJXHOGRVLPyYHLVDOXJDGRV K ,QWDQJtYHLVLGHQWL¿FDGRVHPDTXLVLo}HV/LFHQoDVGHFXUVRV $VOLFHQoDVGHFXUVRVLGHQWL¿FDGDVHPDTXLVLo}HVUHIHUHPVHEDVLFDPHQWHDRVYDORUHVGHOLFHQoDVHFUHGHQFLDPHQWRVGHFXUVRVSHUDQWHR0(&HVmRUHJLVWUDGDVLQLFLDOPHQWHSHORVVHXVYDORUHVMXVWRVFRPEDVHHP
ODXGRVGHDYDOLDomRVXSRUWDQGRRVPRQWDQWHVDORFDGRVQDVFRPELQDo}HVGHQHJyFLRV(VVHVDWLYRVLGHQWL¿FDGRVHPDTXLVLo}HVSRVVXHPYLGD
~WLOLQGH¿QLGDHHVWmRVXMHLWRVDWHVWHVDQXDLVGHUHFXSHUDELOLGDGH L ,QWDQJtYHLVLGHQWL¿FDGRVHPDTXLVLo}HV0DUFDVUHJLVWUDGDVHFDUWHLUD
de clientes $VPDUFDVHFDUWHLUDVGHFOLHQWHVLGHQWL¿FDGDVHPDTXLVLo}HVVmRUHJLVWUDGDVLQLFLDOPHQWHSHORVVHXVYDORUHVMXVWRVFRPEDVHHP
ODXGRVGHDYDOLDomRVXSRUWDQGRRVPRQWDQWHVDORFDGRVQDVFRPELQDo}HVGHQHJyFLRV(VVHVDWLYRVLGHQWL¿FDGRVHPDTXLVLo}HVSRVVXHPYLGD
~WLOGH¿QLGDHHVWmRVXMHLWRVDDPRUWL]DomRFDOFXODGDSHORPpWRGROLQHDUSDUDDORFDURFXVWRGXUDQWHVXDYLGD~WLOHVWLPDGD29.8. Imobilizado: O
LPRELOL]DGRpPHQVXUDGRSHORVHXFXVWRKLVWyULFRPHQRVGHSUHFLDomRDFXPXODGDHSHUGDSDUDimpairment2FXVWRKLVWyULFRLQFOXLRVJDVWRVGLUHWDPHQWHDWULEXtYHLVjDTXLVLomRGRVLWHQV2VWHUUHQRVQmRVmRGHSUHFLDGRV$GHSUHFLDomRGHRXWURVDWLYRVpFDOFXODGDXVDQGRRPpWRGROLQHDU
SDUDDORFDUVHXVFXVWRVPHQRVRYDORUUHVLGXDOGXUDQWHDYLGD~WLO2LPRELOL]DGRHPDQGDPHQWRUHIHUHVHjFRQVWUXomRGHQRYRVSUpGLRVH
DGHTXDomRGHSUpGLRVGHWHUFHLURVjDWLYLGDGHGD&RPSDQKLD6HPHVWUDOPHQWHRVVDOGRVGHVWHJUXSRVmRUHYLVDGRVHWUDQVIHULGRVSDUDDVVXDV
GHYLGDVFRQWDVVHFRQFOXtGRVSDUDLQtFLRGDGHSUHFLDomR2VFXVWRVVXEVHTXHQWHVDRGRUHFRQKHFLPHQWRLQLFLDOVmRLQFRUSRUDGRVDRYDORUUHVLGXDOGRLPRELOL]DGRRXUHFRQKHFLGRVFRPRLWHPHVSHFt¿FRFRQIRUPHDSURSULDGRVRPHQWHVHRVEHQHItFLRVHFRQ{PLFRVDVVRFLDGRVDHVVHVLWHQV
IRUHPSURYiYHLVHRVYDORUHVPHQVXUDGRVGHIRUPDFRQ¿iYHO2VDOGRUHVLGXDOGRLWHPVXEVWLWXtGRpEDL[DGR'HPDLVUHSDURVHPDQXWHQo}HVVmR
UHFRQKHFLGRVGLUHWDPHQWHQRUHVXOWDGRTXDQGRLQFRUULGRV2VLWHQVGRDWLYRLPRELOL]DGRVmREDL[DGRVTXDQGRYHQGLGRVRXTXDQGRQHQKXPEHQHItFLRHFRQ{PLFRIXWXURIRUHVSHUDGRGRVHXXVRRXYHQGD(YHQWXDOJDQKRRXSHUGDUHVXOWDQWHGDEDL[DGRDWLYR FDOFXODGRFRPRVHQGRDGLIHUHQoDHQWUHRYDORUOtTXLGRGDYHQGDHRYDORUUHVLGXDOGRDWLYR VmRUHFRQKHFLGRVQDGHPRQVWUDomRGRUHVXOWDGRGRSHUtRGRHPTXHRDWLYRIRUEDL[DGR2VYDORUHVUHVLGXDLVDYLGD~WLOHRVPpWRGRVGHGHSUHFLDomRGRVDWLYRVVmRUHYLVDGRVHDMXVWDGRVVHQHFHVViULRTXDQGRH[LVWLUXPDLQGLFDomRGHPXGDQoDVLJQL¿FDWLYDGHVGHD~OWLPDGDWDGHEDODQoR29.9. Custos de empréstimo capitalizados2FXVWRKLVWyULFRGRLPRELOL]DGR
LQFOXLMXURVVREUHGHHPSUpVWLPRVGLUHWDPHQWHUHODFLRQDGRVFRPDDTXLVLomRFRQVWUXomRRXSURGXomRGHXPDWLYRTXHQHFHVVDULDPHQWHUHTXHU
XPWHPSRVLJQL¿FDWLYRSDUDVHUFRQFOXtGRSDUD¿QVGHXVRRXYHQGDVmRFDSLWDOL]DGRVFRPRSDUWHGRFXVWRGRFRUUHVSRQGHQWHDWLYR7RGRVRV
GHPDLVFXVWRVGHHPSUpVWLPRVVmRUHJLVWUDGRVHPGHVSHVDQRSHUtRGRHPTXHVmRLQFRUULGRV&XVWRVGHHPSUpVWLPRFRPSUHHQGHPMXURVHRXWURVFXVWRVLQFRUULGRVSRUXPDHQWLGDGHUHODWLYRVDRHPSUpVWLPR29.10. ImpairmentGHDWLYRVQmR¿QDQFHLURV2VDWLYRVTXHWrPXPDYLGD~WLO
LQGH¿QLGDFRPRRiJLRQmRHVWmRVXMHLWRVjDPRUWL]DomRHVmRWHVWDGRVDQXDOPHQWHSDUDLGHQWL¿FDUHYHQWXDOQHFHVVLGDGHGHUHGXomRDRYDORU
UHFXSHUiYHO impairment).2VDWLYRVTXHHVWmRVXMHLWRVjDPRUWL]DomRVmRUHYLVDGRVSDUDDYHUL¿FDomRGHimpairmentVHPSUHTXHHYHQWRVRX
PXGDQoDVQDVFLUFXQVWkQFLDVLQGLFDUHPTXHRYDORUFRQWiELOSRGHQmRVHUUHFXSHUiYHO8PDSHUGDSRUimpairmentpUHFRQKHFLGDTXDQGRRYDORU
FRQWiELOGRDWLYRH[FHGHVHXYDORUUHFXSHUiYHORTXDOUHSUHVHQWDRPDLRUYDORUHQWUHRYDORUMXVWRGHXPDWLYRPHQRVVHXVFXVWRVGHYHQGDHR
VHXYDORUHPXVR3DUD¿QVGHDYDOLDomRGRimpairmentRVDWLYRVVmRDJUXSDGRVQRVQtYHLVPDLVEDL[RVSDUDRVTXDLVH[LVWDPÀX[RVGHFDL[D
LGHQWL¿FiYHLVVHSDUDGDPHQWH³8QLGDGHV*HUDGRUDVGH&DL[D´ 8*&V 2VDWLYRVQmR¿QDQFHLURVH[FHWRRiJLRTXHWHQKDPVLGRDMXVWDGRVSRU
impairmentVmRUHYLVDGRVVXEVHTXHQWHPHQWHSDUDDDQiOLVHGHXPDSRVVtYHOUHYHUVmRGRimpairment QDGDWDGREDODQoR29.11. Fornecedores
e compromissos a pagar$VFRQWDVDSDJDUDRVIRUQHFHGRUHVVmRREULJDo}HVDSDJDUSRUEHQVRXVHUYLoRVTXHIRUDPDGTXLULGRVQRFXUVR
QRUPDOGRVQHJyFLRVHRVFRPSURPLVVRVDSDJDUVmRREULJDo}HVGHFRUUHQWHVGDDTXLVLomRGHLPyYHLVHGRVVDOGRVDSDJDURULXQGRVGHFRPEL-