DOEPE 23/03/2018 - Pág. 45 - Poder Executivo - Diário Oficial do Estado de Pernambuco
Recife, 23 de março de 2018
Diário Oficial do Estado de Pernambuco - Poder Executivo
Ano XCV • NÀ 54 - 45
SER EDUCACIONAL S.A. - CNPJ nº 04.986.320/0001-13
HDSHVDUGDWUDQVIHUrQFLDGDPDQWHQoDGD81*WHURFRUULGRVRPHQWHHPMDQHLURGHDXWXRXD623(3GHIRUPDVXEVLGLiULDSHOD
DXVrQFLDGHSDJDPHQWRGDVUHIHULGDVFRQWULEXLo}HV(PWRGRVRVFDVRVSRUVHWUDWDUGHFRQWLQJrQFLDVDQWHULRUHVDDTXLVLomRRFRQWUDWR
SUHYr TXH HYHQWXDLV SUHMXt]RV HVWmR JDUDQWLGRV SHOD UHWHQomR GRV YDORUHV GH FRPSUD H YHQGD GHVFRQWRV HP DOXJXpLV IXWXURV GDV
XQLGDGHV H KLSRWHFDV GH LPyYHLV HP IDYRU GD &RPSDQKLD 2V DGYRJDGRV TXH SDWURFLQDP HVVHV SURFHVVRV IRUDP FRQWUDWDGRV SHORV
DFLRQLVWDVYHQGHGRUHVHVmRDFRPSDQKDGRVSHORVDGYRJDGRVGR*UXSRFODVVL¿FDQGRRVUHVSHFWLYRVULVFRVGHSHUGDFRPRSRVVtYHLV
27. Lucro básico e diluído por ação: 2 OXFUR EiVLFR SRU DomR p FDOFXODGR PHGLDQWH D GLYLVmR GR OXFUR DWULEXtYHO DRV DFLRQLVWDV GD
VRFLHGDGHSHODTXDQWLGDGHPpGLDSRQGHUDGDGHDo}HVRUGLQiULDVHPLWLGDVGXUDQWHRSHUtRGR$&RPSDQKLDQmRSRVVXLDo}HVRUGLQiULDV
SRWHQFLDLVFRPHIHLWRVGLOXLGRUHV
2017
2016
/XFURDWULEXtYHODRVDFLRQLVWDVGD&RQWURODGRUD
4XDQWLGDGHPpGLDSRQGHUDGDGHDo}HVRUGLQiULDVHPFLUFXODomR PLOKDUHV
/XFUREiVLFRHGLOXtGRSRUDomR5
28. Seguros: $VFREHUWXUDVGHVHJXURVHPGHGH]HPEURGHIRUDPFRQWUDWDGDVSHORVPRQWDQWHVDVHJXLULQGLFDGRVFRQVRDQWH
DSyOLFHVGHVHJXURV
Ramos
Coberturas
,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: $VSULQFLSDLVSROtWLFDVFRQWiEHLVDSOLFDGDVQDSUHSDUDomRGHVVDV
GHPRQVWUDo}HV¿QDQFHLUDVHVWmRGH¿QLGDVDEDL[R(VVDVSROtWLFDVIRUDPDSOLFDGDVGHPRGRFRQVLVWHQWHQRVH[HUFtFLRVDSUHVHQWDGRV
VDOYRGLVSRVLomRHPFRQWUiULR29.1. Consolidação $VVHJXLQWHVSROtWLFDVFRQWiEHLVVmRDSOLFDGDVQDHODERUDomRGDVGHPRQVWUDo}HV
¿QDQFHLUDVFRQVROLGDGDV(a) Controladas: &RQWURODGDVVmRWRGDVDVHQWLGDGHV LQFOXLQGRDVHQWLGDGHVHVWUXWXUDGDV QDVTXDLVR*UXSR
GHWpPRFRQWUROH$VFRQWURODGDVVmRWRWDOPHQWHFRQVROLGDGDVDSDUWLUGDGDWDHPTXHRFRQWUROHpWUDQVIHULGRSDUDR*UXSR$FRQVROL
GDomRpLQWHUURPSLGDDSDUWLUGDGDWDHPTXHR*UXSRGHL[DGHWHURFRQWUROH2VDWLYRVLGHQWL¿FiYHLVDGTXLULGRVHRVSDVVLYRVHSDVVLYRV
FRQWLQJHQWHVDVVXPLGRVSDUDDDTXLVLomRGHFRQWURODGDVHPXPDFRPELQDomRGHQHJyFLRVVmRPHQVXUDGRVLQLFLDOPHQWHSHORVYDORUHV
MXVWRVQDGDWDGDDTXLVLomR2*UXSRUHFRQKHFHDSDUWLFLSDomRQmRFRQWURODGRUDQDDGTXLULGDWDQWRSHORVHXYDORUMXVWRFRPRSHODSDU
FHODSURSRUFLRQDOGDSDUWLFLSDomRQmRFRQWURODGDQRYDORUMXVWRGHDWLYRVOtTXLGRVGDDGTXLULGD$PHQVXUDomRGDSDUWLFLSDomRQmRFRQ
WURODGRUDpGHWHUPLQDGDHPFDGDDTXLVLomRUHDOL]DGD&XVWRVUHODFLRQDGRVFRPDTXLVLomRVmRFRQWDELOL]DGRVQRUHVXOWDGRGRH[HUFtFLR
FRQIRUPHLQFRUULGRV7UDQVDo}HVVDOGRVHJDQKRVQmRUHDOL]DGRVHPWUDQVDo}HVHQWUHHPSUHVDVGR*UXSRVmRHOLPLQDGRV2VSUHMXt]RV
QmRUHDOL]DGRVWDPEpPVmRHOLPLQDGRVDPHQRVTXHDRSHUDomRIRUQHoDHYLGrQFLDVGHXPDSHUGD impairment GRDWLYRWUDQVIHULGR$V
SROtWLFDV FRQWiEHLV GDVFRQWURODGDV VmRDOWHUDGDV TXDQGR QHFHVViULR SDUD DVVHJXUDU DFRQVLVWrQFLD FRPDVSROtWLFDV DGRWDGDV SHOR
*UXSR29.2. Caixa e equivalentes de caixa:&DL[DHHTXLYDOHQWHVGHFDL[DLQFOXHPRFDL[DRVGHSyVLWRVEDQFiULRVHRXWURVLQYHVWLPHQ
WRVGHFXUWRSUD]RGHDOWDOLTXLGH]FRPYHQFLPHQWRVRULJLQDLVGHDWpWUrVPHVHVHFRPULVFRLQVLJQL¿FDQWHGHPXGDQoDGHYDORU 29.3.
$WLYRV¿QDQFHLURV &ODVVL¿FDomR 2*UXSRFODVVL¿FDVHXVDWLYRV¿QDQFHLURVQRUHFRQKHFLPHQWRLQLFLDOVREDVVHJXLQWHVFDWH
JRULDV PHQVXUDGRVDRYDORUMXVWRSRUPHLRGRUHVXOWDGRHHPSUpVWLPRVHUHFHEtYHLV$FODVVL¿FDomRGHSHQGHGD¿QDOLGDGHSDUDDTXDO
RVDWLYRV¿QDQFHLURVIRUDPDGTXLULGRV $WLYRV¿QDQFHLURVDRYDORUMXVWRSRUPHLRGRUHVXOWDGR: 2VDWLYRV¿QDQFHLURVDRYDORU
MXVWRSRUPHLRGRUHVXOWDGRVmRDWLYRV¿QDQFHLURVPDQWLGRVSDUDQHJRFLDomR8PDWLYR¿QDQFHLURpFODVVL¿FDGRQHVVDFDWHJRULDVHIRL
DGTXLULGRSULQFLSDOPHQWHSDUD¿QVGHYHQGDQRFXUWRSUD]R2VDWLYRVGHVVDFDWHJRULDVmRFODVVL¿FDGRVFRPRDWLYRVFLUFXODQWHVHHVWmR
DSUHVHQWDGRVQD1RWD29.3.3. Empréstimos e recebíveis: 2VHPSUpVWLPRVHUHFHEtYHLVVmRDWLYRV¿QDQFHLURVQmRGHULYDWLYRVFRP
SDJDPHQWRV¿[RVRXGHWHUPLQiYHLVTXHQmRVmRFRWDGRVHPXPPHUFDGRDWLYR6mRDSUHVHQWDGRVFRPRDWLYRFLUFXODQWHH[FHWRDTXHOHV
FRPSUD]RGHYHQFLPHQWRVXSHULRUDPHVHVDSyVDGDWDGHHPLVVmRGREDODQoR HVWHVVmRFODVVL¿FDGRVFRPRDWLYRVQmRFLUFXODQWHV
2VHPSUpVWLPRVHUHFHEtYHLVGR*UXSRFRPSUHHQGHP³&RQWDVDUHFHEHUGHFOLHQWHVHGHPDLVFRQWDVDUHFHEHU´H³&DL[DHHTXLYDOHQWHV
GHFDL[D´ 1RWDVH 29.3.4. Reconhecimento e mensuração $VFRPSUDVHDVYHQGDVGHDWLYRV¿QDQFHLURVVmRQRUPDOPHQWH
UHFRQKHFLGDVQDGDWDGDQHJRFLDomR2VLQYHVWLPHQWRVVmRLQLFLDOPHQWHUHFRQKHFLGRVSHORYDORUMXVWRDFUHVFLGRVGRVFXVWRVGDWUDQ
VDomRSDUDWRGRVRVDWLYRV¿QDQFHLURVQmRFODVVL¿FDGRVFRPRDRYDORUMXVWRSRUPHLRGRUHVXOWDGR2VDWLYRV¿QDQFHLURVDRYDORUMXVWR
SRUPHLRGHUHVXOWDGRVmRLQLFLDOPHQWHUHFRQKHFLGRVSHORYDORUMXVWRHRVFXVWRVGDWUDQVDomRVmRGHELWDGRVjGHPRQVWUDomRGRUHVXO
WDGR2VDWLYRV¿QDQFHLURVVmREDL[DGRVTXDQGRRVGLUHLWRVGHUHFHEHUÀX[RVGHFDL[DWHQKDPYHQFLGRRXWHQKDPVLGRWUDQVIHULGRV
QHVWH~OWLPRFDVRGHVGHTXHR*UXSRWHQKDWUDQVIHULGRVLJQL¿FDWLYDPHQWHWRGRVRVULVFRVHRVEHQHItFLRVGHSURSULHGDGH2VDWLYRV¿
QDQFHLURVPHQVXUDGRVDRYDORUMXVWRSRUPHLRGRUHVXOWDGRVmRVXEVHTXHQWHPHQWHFRQWDELOL]DGRVSHORYDORUMXVWR2VHPSUpVWLPRVH
UHFHEtYHLVVmRFRQWDELOL]DGRVLQLFLDOPHQWHSHORYDORUMXVWRHVXEVHTXHQWHPHQWHSHORFXVWRDPRUWL]DGRXVDQGRRPpWRGRGDWD[DHIHWLYD
GHMXURV2VJDQKRVRXDVSHUGDVGHFRUUHQWHVGHYDULDo}HVQRYDORUMXVWRGHDWLYRV¿QDQFHLURVPHQVXUDGRVDRYDORUMXVWRSRUPHLRGR
UHVXOWDGRVmRDSUHVHQWDGRVQDGHPRQVWUDomRGRUHVXOWDGRHP³2XWUDVGHVSHVDVRSHUDFLRQDLVOtTXLGDV´QRSHUtRGRHPTXHRFRUUHP2V
YDORUHVMXVWRVGRVLQYHVWLPHQWRVFRPFRWDomRS~EOLFDVmREDVHDGRVQRVSUHoRVDWXDLVGHFRPSUD6HRPHUFDGRGHXPDWLYR¿QDQFHLUR
HGHWtWXORVQmROLVWDGRVHP%ROVD QmRHVWLYHUDWLYRR*UXSRHVWDEHOHFHRYDORUMXVWRDWUDYpVGHWpFQLFDVGHDYDOLDomR(VVDVWpFQLFDV
LQFOXHPRXVRGHRSHUDo}HVUHFHQWHVFRQWUDWDGDVFRPWHUFHLURVUHIHUrQFLDDRXWURVLQVWUXPHQWRVTXHVmRVXEVWDQFLDOPHQWHVLPLODUHV
DQiOLVHGHÀX[RVGHFDL[DGHVFRQWDGRVHPRGHORVGHSUHFL¿FDomRGHRSo}HVTXHID]HPRPDLRUXVRSRVVtYHOGHLQIRUPDo}HVJHUDGDV
SHORPHUFDGRHFRQWDPRPtQLPRSRVVtYHOFRPLQIRUPDo}HVJHUDGDVSHODDGPLQLVWUDomRGDSUySULDHQWLGDGH29.3.5. Compensação de
LQVWUXPHQWRV¿QDQFHLURV $WLYRVHSDVVLYRV¿QDQFHLURVVmRFRPSHQVDGRVHRYDORUOtTXLGRpDSUHVHQWDGRQREDODQoRSDWULPRQLDOTXDQ
GRKiXPGLUHLWROHJDOGHFRPSHQVDURVYDORUHVUHFRQKHFLGRVHKiDLQWHQomRGHOLTXLGiORVHPXPDEDVHOtTXLGDRXUHDOL]DURDWLYRH
OLTXLGDURSDVVLYRVLPXOWDQHDPHQWH2GLUHLWROHJDOQmRGHYHVHUFRQWLQJHQWHHPHYHQWRVIXWXURVHGHYHVHUDSOLFiYHOQRFXUVRQRUPDOGRV
QHJyFLRVHQRFDVRGHLQDGLPSOrQFLDLQVROYrQFLDRXIDOrQFLDGDHPSUHVDRXFRQWUDSDUWH 29.4. Contas a receber de clientes: As contas
DUHFHEHUVmRGHFRUUHQWHVGDSUHVWDomRGHVHUYLoRVGHDWLYLGDGHVGHHQVLQRHQmRLQFOXHPPRQWDQWHVGHVHUYLoRVSUHVWDGRVDSyVDV
GDWDVGRVEDODQoRV2VVHUYLoRVDUUHFDGDGRVHDLQGDQmRSUHVWDGRVQDVGDWDVGRVEDODQoRVVmRFRQWDELOL]DGRVFRPRPHQVDOLGDGHV
UHFHELGDVDQWHFLSDGDPHQWHHVmRUHFRQKHFLGRVQRUHVSHFWLYRUHVXOWDGRGRH[HUFtFLRGHDFRUGRFRPRUHJLPHGHFRPSHWrQFLD$VFRQWDV
DUHFHEHUGHFOLHQWHVVmRLQLFLDOPHQWHUHFRQKHFLGDVSHORYDORUMXVWRHVXEVHTXHQWHPHQWHPHQVXUDGDVSHORFXVWRDPRUWL]DGRFRPR
XVRGRPpWRGRGDWD[DHIHWLYDGHMXURVPHQRVDSURYLVmRSDUDFUpGLWRVGHOLTXLGDomRGXYLGRVD ³LPSDLUPHQW´ 29.5. Provisão para crédito de liquidação duvidosa: eDSUHVHQWDGDFRPRUHGXomRGDVFRQWDVDUHFHEHUHpFRQVWLWXtGDHPPRQWDQWHFRQVLGHUDGRVX¿FLHQWH
SHOD$GPLQLVWUDomRSDUDID]HUIDFHDHYHQWXDLVSHUGDVQDUHDOL]DomRGDVFRQWDVDUHFHEHUGHFRUUHQWHVGHPHQVDOLGDGHVHGHFKHTXHVD
UHFHEHUFRQVLGHUDQGRRVULVFRVHQYROYLGRVeFDOFXODGDSHODDGPLQLVWUDomRTXDQGRH[LVWHHYLGrQFLDREMHWLYDGHSHUGDFRQVLGHUDQGRR
ÀX[RGHFDL[DHVSHUDGRGHVFRQWDGRSHODWD[DHIHWLYDGHMXURV29.6.. Investimentos em controladas (aplicável somente para as dePRQVWUDo}HV¿QDQFHLUDVLQGLYLGXDLV 2VLQYHVWLPHQWRVHPHPSUHVDVFRQWURODGDVQDVGHPRQVWUDo}HV¿QDQFHLUDVGDFRQWURODGRUD
HVWmRUHJLVWUDGRVSHORPpWRGRGDHTXLYDOrQFLDSDWULPRQLDO$SDUWLFLSDomRVRFLHWiULDHPFRQWURODGDVpDSUHVHQWDGDQDGHPRQVWUDomRGR
UHVXOWDGRGDFRQWURODGRUDFRPRHTXLYDOrQFLDSDWULPRQLDOUHSUHVHQWDQGRROXFUROtTXLGRDWULEXtYHODRVDFLRQLVWDVGDFRQWURODGD1DVGH
PRQVWUDo}HVFRQWiEHLVLQGLYLGXDLVRiJLRSRUH[SHFWDWLYDGHUHQWDELOLGDGHIXWXUDJRRGZLOOpDSUHVHQWDGRFRPRSDUWHGRLQYHVWLPHQWR
2VPHVPRVDMXVWHVIHLWRVQDVGHPRQVWUDo}HV¿QDQFHLUDVFRQVROLGDGDVVmRIHLWRVQDVGHPRQVWUDo}HV¿QDQFHLUDVLQGLYLGXDLVSDUDVH
FKHJDUDRVPHVPRVYDORUHVGHSDWULP{QLROtTXLGRHUHVXOWDGR29.7. Ativos intangíveis: (a) Ágio: 2iJLR JRRGZLOO pUHSUHVHQWDGRSHOD
GLIHUHQoDSRVLWLYDHQWUHRYDORUMXVWRSDJRHRXDSDJDUSHODDTXLVLomRGHXPQHJyFLRHRPRQWDQWHOtTXLGRGRYDORUMXVWRGRVDWLYRVH
SDVVLYRVGDFRQWURODGDDGTXLULGD2iJLRGHDTXLVLo}HVGHFRQWURODGDVpUHJLVWUDGRFRPR³$WLYRLQWDQJtYHO´QRFRQVROLGDGR2iJLRp
WHVWDGRDQXDOPHQWHSDUDYHUL¿FDUSHUGDV LPSDLUPHQW ÈJLRpFRQWDELOL]DGRSHORVHXYDORUGHFXVWRPHQRVDVSHUGDVDFXPXODGDVSRU
LPSDLUPHQW3HUGDVSRULPSDLUPHQWUHFRQKHFLGDVVREUHiJLRQmRVmRUHYHUWLGDV2VJDQKRVHDVSHUGDVGDDOLHQDomRGHXPDHQWLGDGH
LQFOXHPRYDORUFRQWiELOGRiJLRUHODFLRQDGRFRPDHQWLGDGHYHQGLGD(b) Carteira de alunos $VUHODo}HVFRQWUDWXDLVFRPDOXQRVDGTXL
ULGDVHPXPDFRPELQDomRGHQHJyFLRVVmRUHFRQKHFLGDVSHORYDORUMXVWRQDGDWDGDDTXLVLomR$VUHODo}HVFRQWUDWXDLVWrPYLGD~WLO
GH¿QLGDHVmRFRQWDELOL]DGDVSHORVHXYDORUGHFXVWRPHQRVDDPRUWL]DomRDFXPXODGD$DPRUWL]DomRpFDOFXODGDXVDQGRRPpWRGROLQH
DUGXUDQWHRSHUtRGRHVSHUDGRGDUHODomRFRPRDOXQR(c) Licenças e implantações de softwares: $VOLFHQoDVGHVRIWZDUHVVmRFDSL
WDOL]DGDVFRPEDVHQRVFXVWRVLQFRUULGRVSDUDDGTXLULURVVRIWZDUHVHID]HUFRPTXHHOHVHVWHMDPSURQWRVSDUDVHUHPXWLOL]DGRV(VVHV
FXVWRVVmRDPRUWL]DGRVGXUDQWHDYLGD~WLOHVWLPDGDGRVVRIWZDUHVGHWUrVDFLQFRDQRV Os custos associados à manutenção de softwaresVmRUHFRQKHFLGRVFRPRGHVSHVDFRQIRUPHLQFRUULGRV2XWURVJDVWRVGHGHVHQYROYLPHQWRTXHQmRDWHQGDPDHVVHVFULWpULRVVmR
UHFRQKHFLGRV FRPR GHVSHVD FRQIRUPH LQFRUULGRV 2V FXVWRV GH GHVHQYROYLPHQWR SUHYLDPHQWH UHFRQKHFLGRV FRPR GHVSHVD QmR VmR
UHFRQKHFLGRVFRPRDWLYRHPSHUtRGRVXEVHTXHQWH2VFXVWRVGHGHVHQYROYLPHQWRGHsoftwaresUHFRQKHFLGRVFRPRDWLYRVVmRDPRUWL]D
GRVGXUDQWHVXDYLGD~WLOHVWLPDGDQmRVXSHULRUDWUrVDQRV(d) Credenciamento e Licenças de operação: Os credenciamentos e as
OLFHQoDVGHRSHUDomRVmRFDSLWDOL]DGRVFRPEDVHQRVJDVWRVLQFRUULGRVMXQWRDR0LQLVWpULRGH(GXFDomRUHIHUHQWHVjDXWRUL]DomRHDR
UHFRQKHFLPHQWRGRVFXUVRVRIHUHFLGRVDVVLPFRPRUHFUHGHQFLDPHQWRGDV8QLGDGHV2VFUHGHQFLDPHQWRVHDVOLFHQoDVWrPYLGD~WLO
GH¿QLGDHVmRFRQWDELOL]DGDVSHORVHXYDORUGHFXVWRPHQRVDDPRUWL]DomRDFXPXODGD$DPRUWL]DomRpFDOFXODGDXVDQGRRPpWRGROLQH
DUGXUDQWHRSHUtRGRGHYLJrQFLDGDVOLFHQoDVREWLGDVMXQWRDR0LQLVWpULRGD(GXFDomR(e) Conteúdo Digital 2&RQWH~GR'LJLWDOpFDSL
WDOL]DGRFRPEDVHQRVFXVWRVLQFRUULGRVSDUDDGTXLULUGLUHLWRVGHXVRGHFRQWH~GRVGLJLWDLVDVHUHPXWLOL]DGRVQDSUHVWDomRGHVHUYLoRGD
&RPSDQKLD(VVHVFXVWRVVmRDPRUWL]DGRVGXUDQWHRSUD]RGRFRQWUDWR(f) Convênios:2VFRQYrQLRVVmRFDSLWDOL]DGRVFRPEDVHQRV
FXVWRVLQFRUULGRVSDUD¿UPDUFRQWUDWRVMXQWRDHPSUHVDVSDUFHLUDVTXHFRQ¿UDPDRVDOXQRVGR*UXSRRGLUHLWRGHH[HUFHUDVDWLYLGDGHV
GHJUDGXDomRFRPSOHPHQWDUHVQHFHVViULDVSDUDVXDIRUPDomRDFDGrPLFD(VVHVFXVWRVVmRDPRUWL]DGRVGXUDQWHRSUD]RGRVUHIHULGRV
FRQWUDWR(g) Fundo de comércio: 6mRDWLYRVLQWDQJtYHLVFRPSUD]RGHYLGD~WLOGH¿QLGDUHSUHVHQWDGRVSRUYDORUHVSDJRVQDDTXLVLomR
GHQRYRVSRQWRVFRPHUFLDLV IXQGRGHFRPpUFLR 6mRDPRUWL]DGRVOLQHDUPHQWHGHDFRUGRFRPRSUD]RGRFRQWUDWRGHDOXJXHOGRVLPyYHLV
DOXJDGRV K ,QWDQJtYHLVLGHQWL¿FDGRVHPDTXLVLo}HV/LFHQoDVGHFXUVRV: $VOLFHQoDVGHFXUVRVLGHQWL¿FDGDVHPDTXLVLo}HVUHIH
UHPVHEDVLFDPHQWHDRVYDORUHVGHOLFHQoDVHFUHGHQFLDPHQWRVGHFXUVRVSHUDQWHR0(&HVmRUHJLVWUDGDVLQLFLDOPHQWHSHORVVHXVYD
ORUHVMXVWRVFRPEDVHHPODXGRVGHDYDOLDomRVXSRUWDQGRRVPRQWDQWHVDORFDGRVQDVFRPELQDo}HVGHQHJyFLRV(VVHVDWLYRVLGHQWL¿FD
GRVHPDTXLVLo}HVSRVVXHPYLGD~WLOLQGH¿QLGDHHVWmRVXMHLWRVDWHVWHVDQXDLVGHUHFXSHUDELOLGDGH L ,QWDQJtYHLVLGHQWL¿FDGRVHP
aquisições - Marcas registradas e carteira de clientes: $VPDUFDVHFDUWHLUDVGHFOLHQWHVLGHQWL¿FDGDVHPDTXLVLo}HVVmRUHJLVWUDGDV
LQLFLDOPHQWHSHORVVHXVYDORUHVMXVWRVFRPEDVHHPODXGRVGHDYDOLDomRVXSRUWDQGRRVPRQWDQWHVDORFDGRVQDVFRPELQDo}HVGHQHJy
FLRV(VVHVDWLYRVLGHQWL¿FDGRVHPDTXLVLo}HVSRVVXHPYLGD~WLOGH¿QLGDHHVWmRVXMHLWRVDDPRUWL]DomRFDOFXODGDSHORPpWRGROLQHDUSDUD
DORFDURFXVWRGXUDQWHVXDYLGD~WLOHVWLPDGD29.8. Imobilizado:2LPRELOL]DGRpPHQVXUDGRSHORVHXFXVWRKLVWyULFRPHQRVGHSUHFLDomR
acumulada e perda para impairment2FXVWRKLVWyULFRLQFOXLRVJDVWRVGLUHWDPHQWHDWULEXtYHLVjDTXLVLomRGRVLWHQV2VWHUUHQRVQmRVmR
GHSUHFLDGRV$GHSUHFLDomRGHRXWURVDWLYRVpFDOFXODGDXVDQGRRPpWRGROLQHDUSDUDDORFDUVHXVFXVWRVPHQRVRYDORUUHVLGXDOGXUDQ
WHDYLGD~WLO2LPRELOL]DGRHPDQGDPHQWRUHIHUHVHjFRQVWUXomRGHQRYRVSUpGLRVHDGHTXDomRGHSUpGLRVGHWHUFHLURVjDWLYLGDGHGD
&RPSDQKLD6HPHVWUDOPHQWHRVVDOGRVGHVWHJUXSRVmRUHYLVDGRVHWUDQVIHULGRVSDUDDVVXDVGHYLGDVFRQWDVVHFRQFOXtGRVSDUDLQtFLR
GDGHSUHFLDomR2VFXVWRVVXEVHTXHQWHVDRGRUHFRQKHFLPHQWRLQLFLDOVmRLQFRUSRUDGRVDRYDORUUHVLGXDOGRLPRELOL]DGRRXUHFRQKHFLGRV
FRPRLWHPHVSHFt¿FRFRQIRUPHDSURSULDGRVRPHQWHVHRVEHQHItFLRVHFRQ{PLFRVDVVRFLDGRVDHVVHVLWHQVIRUHPSURYiYHLVHRVYDORUHV
PHQVXUDGRVGHIRUPDFRQ¿iYHO2VDOGRUHVLGXDOGRLWHPVXEVWLWXtGRpEDL[DGR'HPDLVUHSDURVHPDQXWHQo}HVVmRUHFRQKHFLGRVGLUH
WDPHQWH QR UHVXOWDGR TXDQGR LQFRUULGRV 2V LWHQV GR DWLYR LPRELOL]DGR VmR EDL[DGRV TXDQGR YHQGLGRV RX TXDQGR QHQKXP EHQHItFLR
HFRQ{PLFRIXWXURIRUHVSHUDGRGRVHXXVRRXYHQGD(YHQWXDOJDQKRRXSHUGDUHVXOWDQWHGDEDL[DGRDWLYR FDOFXODGRFRPRVHQGRDGL
IHUHQoDHQWUHRYDORUOtTXLGRGDYHQGDHRYDORUUHVLGXDOGRDWLYR VmRUHFRQKHFLGRVQDGHPRQVWUDomRGRUHVXOWDGRGRSHUtRGRHPTXHR
DWLYRIRUEDL[DGR2VYDORUHVUHVLGXDLVDYLGD~WLOHRVPpWRGRVGHGHSUHFLDomRGRVDWLYRVVmRUHYLVDGRVHDMXVWDGRVVHQHFHVViULR
TXDQGRH[LVWLUXPDLQGLFDomRGHPXGDQoDVLJQL¿FDWLYDGHVGHD~OWLPDGDWDGHEDODQoR29.9. Custos de empréstimo capitalizados: O
FXVWRKLVWyULFRGRLPRELOL]DGRLQFOXLMXURVVREUHGHHPSUpVWLPRVGLUHWDPHQWHUHODFLRQDGRVFRPDDTXLVLomRFRQVWUXomRRXSURGXomRGH
XPDWLYRTXHQHFHVVDULDPHQWHUHTXHUXPWHPSRVLJQL¿FDWLYRSDUDVHUFRQFOXtGRSDUD¿QVGHXVRRXYHQGDVmRFDSLWDOL]DGRVFRPRSDUWH
GRFXVWRGRFRUUHVSRQGHQWHDWLYR7RGRVRVGHPDLVFXVWRVGHHPSUpVWLPRVVmRUHJLVWUDGRVHPGHVSHVDQRSHUtRGRHPTXHVmRLQFRUUL
GRV&XVWRVGHHPSUpVWLPRFRPSUHHQGHPMXURVHRXWURVFXVWRVLQFRUULGRVSRUXPDHQWLGDGHUHODWLYRVDRHPSUpVWLPR29.10. Impairment
GHDWLYRVQmR¿QDQFHLURV 2VDWLYRVTXHWrPXPDYLGD~WLOLQGH¿QLGDFRPRRiJLRQmRHVWmRVXMHLWRVjDPRUWL]DomRHVmRWHVWDGRV
DQXDOPHQWHSDUDLGHQWL¿FDUHYHQWXDOQHFHVVLGDGHGHUHGXomRDRYDORUUHFXSHUiYHO impairment).2VDWLYRVTXHHVWmRVXMHLWRVjDPRUWL]D
omRVmRUHYLVDGRVSDUDDYHUL¿FDomRGHimpairmentVHPSUHTXHHYHQWRVRXPXGDQoDVQDVFLUFXQVWkQFLDVLQGLFDUHPTXHRYDORUFRQWiELO
SRGHQmRVHUUHFXSHUiYHO8PDSHUGDSRUimpairmentpUHFRQKHFLGDTXDQGRRYDORUFRQWiELOGRDWLYRH[FHGHVHXYDORUUHFXSHUiYHORTXDO
UHSUHVHQWDRPDLRUYDORUHQWUHRYDORUMXVWRGHXPDWLYRPHQRVVHXVFXVWRVGHYHQGDHRVHXYDORUHPXVR3DUD¿QVGHDYDOLDomRGR
impairmentRVDWLYRVVmRDJUXSDGRVQRVQtYHLVPDLVEDL[RVSDUDRVTXDLVH[LVWDPÀX[RVGHFDL[DLGHQWL¿FiYHLVVHSDUDGDPHQWH³8QLGD
GHV*HUDGRUDVGH&DL[D´ 8*&V 2VDWLYRVQmR¿QDQFHLURVH[FHWRRiJLRTXHWHQKDPVLGRDMXVWDGRVSRUimpairment, são revisados
VXEVHTXHQWHPHQWHSDUDDDQiOLVHGHXPDSRVVtYHOUHYHUVmRGRimpairment QDGDWDGREDODQoR29.11. Fornecedores e compromissos
a pagar: $VFRQWDVDSDJDUDRVIRUQHFHGRUHVVmRREULJDo}HVDSDJDUSRUEHQVRXVHUYLoRVTXHIRUDPDGTXLULGRVQRFXUVRQRUPDOGRV
QHJyFLRVHRVFRPSURPLVVRVDSDJDUVmRREULJDo}HVGHFRUUHQWHVGDDTXLVLomRGHLPyYHLVHGRVVDOGRVDSDJDURULXQGRVGHFRPELQDo}HV
GHQHJyFLRVVHQGRFODVVL¿FDGRVFRPRSDVVLYRVFLUFXODQWHVVHRSDJDPHQWRIRUGHYLGRQRSHUtRGRGHDWpXPDQR&DVRFRQWUiULRDV
FRQWDVDSDJDUDIRUQHFHGRUHVHRVFRPSURPLVVRVDSDJDUVmRDSUHVHQWDGRVFRPRSDVVLYRQmRFLUFXODQWH$VFRQWDVDSDJDUDRVIRUQH
FHGRUHVHRVFRPSURPLVVRVDSDJDUVmRLQLFLDOPHQWHUHFRQKHFLGRVSHORYDORUMXVWRHVXEVHTXHQWHPHQWHPHQVXUDGRVSHORFXVWRDPRU
WL]DGRFRPRXVRGRPpWRGRGHWD[DHIHWLYDGHMXURV 29.12. Arrendamento mercantil: 2VDUUHQGDPHQWRVQRVTXDLVXPDSDUFHODVLJQL
¿FDWLYDGRVULVFRVHEHQHItFLRVGDSURSULHGDGHpUHWLGDSHORDUUHQGDGRUVmRFODVVL¿FDGRVFRPRDUUHQGDPHQWRVRSHUDFLRQDLV2VSDJD
PHQWRVHIHWXDGRVSDUDDUUHQGDPHQWRVRSHUDFLRQDLV OtTXLGRVGHTXDLVTXHULQFHQWLYRVUHFHELGRVGRDUUHQGDGRU VmRUHFRQKHFLGRVQD
GHPRQVWUDomRGRUHVXOWDGRSHORPpWRGROLQHDUGXUDQWHRSHUtRGRGRDUUHQGDPHQWR2*UXSRDUUHQGDFHUWRVEHQVGRLPRELOL]DGR2V
DUUHQGDPHQWRVGRLPRELOL]DGRQRVTXDLVR*UXSRGHWpPVXEVWDQFLDOPHQWHWRGRVRVULVFRVHEHQHItFLRVGDSURSULHGDGHVmRFODVVL¿FD
GRVFRPRDUUHQGDPHQWRV¿QDQFHLURV(VWHVVmRFDSLWDOL]DGRVQRLQtFLRGRDUUHQGDPHQWRSHORPHQRUYDORUHQWUHRYDORUMXVWRGREHP
DUUHQGDGRHRYDORUSUHVHQWHGRVSDJDPHQWRVPtQLPRVGRDUUHQGDPHQWRHPFRQWUDSDUWLGDGHXPSDVVLYRGHDUUHQGDPHQWRDSDJDU
&DGDSDUFHODSDJDGRDUUHQGDPHQWRpDORFDGDSDUWHDRSDVVLYRHSDUWHDRVHQFDUJRV¿QDQFHLURVSDUDTXHGHVVDIRUPDVHMDREWLGD
XPDWD[DFRQVWDQWHVREUHRVDOGRGDGtYLGDHPDEHUWR$VREULJDo}HVFRUUHVSRQGHQWHVOtTXLGDVGRVHQFDUJRV¿QDQFHLURVVmRLQFOXtGDV
HPREULJDo}HVGHDUUHQGDPHQWRVPHUFDQWLV2VMXURVGDVGHVSHVDV¿QDQFHLUDVVmRUHFRQKHFLGRVQDGHPRQVWUDomRGRUHVXOWDGRGXUDQ
WHRSHUtRGRGRDUUHQGDPHQWRSDUDSURGX]LUXPDWD[DSHULyGLFDFRQVWDQWHGHMXURVVREUHRVDOGRUHPDQHVFHQWHGRSDVVLYRSDUDFDGD
SHUtRGR2LPRELOL]DGRDGTXLULGRSRUPHLRGHDUUHQGDPHQWRV¿QDQFHLURVpGHSUHFLDGRGXUDQWHDYLGD~WLOGRDWLYR29.13. Empréstimos
H¿QDQFLDPHQWRV 2VHPSUpVWLPRVH¿QDQFLDPHQWRVVmRUHFRQKHFLGRVLQLFLDOPHQWHSHORYDORUMXVWROtTXLGRGRVFXVWRVLQFRUULGRVQD
WUDQVDomRHVmRVXEVHTXHQWHPHQWHGHPRQVWUDGRVSHORFXVWRDPRUWL]DGR4XDOTXHUGLIHUHQoDHQWUHRVYDORUHVFDSWDGRV OtTXLGRVGRV
FXVWRVGDWUDQVDomR HRYDORUWRWDODSDJDUpUHFRQKHFLGDQDGHPRQVWUDomRGRUHVXOWDGRGXUDQWHRSHUtRGRHPTXHRVHPSUpVWLPRV
HVWHMDPHPDEHUWRXWLOL]DQGRRPpWRGRGDWD[DHIHWLYDGHMXURV2VHPSUpVWLPRVH¿QDQFLDPHQWRVVmRFODVVL¿FDGRVFRPRSDVVLYRFLUFX
ODQWHDPHQRVTXHD&RPSDQKLDWHQKDXPGLUHLWRLQFRQGLFLRQDOGDOLTXLGDomRGRSDVVLYRSRUSHORPHQRVPHVHVDSyVDGDWDGR
EDODQoR2VFXVWRVGHHPSUpVWLPRVJHUDLVHHVSHFt¿FRVTXHVmRGLUHWDPHQWHDWULEXtYHLVjDTXLVLomRFRQVWUXomRRXSURGXomRGHXP
DWLYRTXDOL¿FiYHOTXHpXPDWLYRTXHQHFHVVDULDPHQWHGHPDQGDXPSHUtRGRGHWHPSRVXEVWDQFLDOSDUD¿FDUSURQWRSDUDVHXXVRRX
YHQGDSUHWHQGLGRVVmRFDSLWDOL]DGRVFRPRSDUWHGRFXVWRGRDWLYRTXDQGRIRUSURYiYHOTXHHOHVLUmRUHVXOWDUHPEHQHItFLRVHFRQ{PLFRV
IXWXURVSDUDDHQWLGDGHHTXHWDLVFXVWRVSRVVDPVHUPHQVXUDGRVFRPFRQ¿DQoD'HPDLVFXVWRVGHHPSUpVWLPRVVmRUHFRQKHFLGRVFRPR
GHVSHVDQRSHUtRGRHPTXHVmRLQFRUULGRV29.14. Debêntures:$VGHErQWXUHVVmRUHFRQKHFLGDVLQLFLDOPHQWHSHORYDORUMXVWROtTXLGR
GRVFXVWRVLQFRUULGRVQDWUDQVDomRHVmRVXEVHTXHQWHPHQWHGHPRQVWUDGDVSHORFXVWRDPRUWL]DGR4XDOTXHUGLIHUHQoDHQWUHRVYDORUHV
FDSWDGRV OtTXLGRVGRVFXVWRVGDWUDQVDomR HRYDORUWRWDODSDJDUpUHFRQKHFLGDQDGHPRQVWUDomRGRUHVXOWDGRGXUDQWHRSHUtRGRHP
TXHDVGHErQWXUHVHVWHMDPHPDEHUWRXWLOL]DQGRRPpWRGRGDWD[DHIHWLYDGHMXURV$VGHErQWXUHVVmRFODVVL¿FDGDVFRPRSDVVLYRFLUFX
ODQWHDPHQRVTXHD&RPSDQKLDWHQKDXPGLUHLWRLQFRQGLFLRQDOGDOLTXLGDomRGRSDVVLYRSRUSHORPHQRVPHVHVDSyVDGDWDGR
EDODQoR2VFXVWRVGHGHErQWXUHVJHUDLVHHVSHFt¿FRVTXHVmRGLUHWDPHQWHDWULEXtYHLVjDTXLVLomRFRQVWUXomRRXSURGXomRGHXPDWLYR
TXDOL¿FiYHOTXHpXPDWLYRTXHQHFHVVDULDPHQWHGHPDQGDXPSHUtRGRGHWHPSRVXEVWDQFLDOSDUD¿FDUSURQWRSDUDVHXXVRRXYHQGD
SUHWHQGLGRVVmRFDSLWDOL]DGRVFRPRSDUWHGRFXVWRGRDWLYRTXDQGRIRUSURYiYHOTXHHOHVLUmRUHVXOWDUHPEHQHItFLRVHFRQ{PLFRVIXWXURV
SDUDDHQWLGDGHHTXHWDLVFXVWRVSRVVDPVHUPHQVXUDGRVFRPFRQ¿DQoD'HPDLVFXVWRVGHGHErQWXUHVVmRUHFRQKHFLGRVFRPRGHVSH
VDQRSHUtRGRHPTXHVmRLQFRUULGRV29.15. Provisões: $VSURYLV}HVSDUDFRQWLQJrQFLDV WUDEDOKLVWDVFtYHLVHWULEXWiULDV VmRUHFRQKH
FLGDVTXDQGR L H[LVWHXPDREULJDomRSUHVHQWHRXQmRIRUPDOL]DGDFRPRUHVXOWDGRGHHYHQWRVMiRFRUULGRV LL pSURYiYHOTXHXPDVD
tGDGHUHFXUVRVVHMDQHFHVViULDSDUDOLTXLGDUDREULJDomR H LLL RYDORUSXGHUVHUHVWLPDGRFRPVHJXUDQoDFRPEDVHQRVMXOJDPHQWRV
GRVFRQVXOWRUHVMXUtGLFRV$VSURYLV}HVVmRPHQVXUDGDVSHORYDORUSUHVHQWHGRVJDVWRVTXHGHYHPVHUQHFHVViULRVSDUDOLTXLGDUDREUL
JDomRXVDQGRXPDWD[DDQWHVGRVHIHLWRVWULEXWiULRVDTXDOUHÀLWDDVDYDOLDo}HVDWXDLVGHPHUFDGRGRYDORUGRGLQKHLURQRWHPSRHGRV
ULVFRVHVSHFt¿FRVGDREULJDomR2DXPHQWRGDREULJDomRHPGHFRUUrQFLDGDSDVVDJHPGRWHPSRpUHFRQKHFLGRFRPRGHVSHVD¿QDQFHL
UD29.16. Tributação: (a) Imposto de renda e contribuição social corrente $VGHVSHVDVGHLPSRVWRGHUHQGDHFRQWULEXLomRVRFLDOGR
SHUtRGRFRPSUHHQGHPRLPSRVWRFRUUHQWH2VLPSRVWRVVREUHDUHQGDVmRUHFRQKHFLGRVQDGHPRQVWUDomRGRUHVXOWDGRH[FHWRQDSUR
SRUomRHPTXHHVWLYHUHPUHODFLRQDGRVFRPLWHQVUHFRQKHFLGRVGLUHWDPHQWHQRSDWULP{QLROtTXLGR1HVVHFDVRRLPSRVWRWDPEpPpUH
FRQKHFLGRQRSDWULP{QLROtTXLGR3DUDDVXQLGDGHVTXHDGHULUDPDR3URJUDPD8QLYHUVLGDGHSDUD7RGRV³35281,´DVDWLYLGDGHVGH
HQVLQRVXSHULRUGHJUDGXDomRJR]DPGHLVHQomRSHORSHUtRGRGHYLJrQFLDGRWHUPRGHDGHVmRFRPUHODomRDR,PSRVWRGH5HQGDGH
3HVVRD-XUtGLFD³,53-´H&RQWULEXLomR6RFLDOVREUHR/XFUR/tTXLGR³&6//´(b) PIS e COFINS: 3DUDDVUHFHLWDVGDVDWLYLGDGHVGHHQVLQR
FRP H[FHomR GDV DWLYLGDGHV GH JUDGXDomR GDV XQLGDGHV TXH DGHULUDP DR 3URJUDPD 8QLYHUVLGDGH SDUD 7RGRV ³35281,´ LQFLGHP R
3URJUDPDGH,QWHJUDomR6RFLDO³3,6´HD&RQWULEXLomRSDUDR)LQDQFLDPHQWRGD6HJXULGDGH6RFLDO³&2),16´QDVDOtTXRWDVGHH
UHVSHFWLYDPHQWHHSDUDDVDWLYLGDGHVQmRUHODFLRQDGDVDHQVLQRLQFLGHPR3,6jDOtTXRWDGHHD&2),16D$V
DWLYLGDGHVGHJUDGXDomRQDVXQLGDGHVTXHDGHULUDPDR3URJUDPD8QLYHUVLGDGHSDUD7RGRV³35281,´VmRLVHQWDVGR3URJUDPDGH,QWH
JUDomR6RFLDO³3,6´HGD&RQWULEXLomRSDUDR)LQDQFLDPHQWRGD6HJXULGDGH6RFLDO³&2),16´ (c) PROUNI $VXQLGDGHVTXHDGHULUDPDR
35281,JR]DPGHLVHQomRSHORSHUtRGRGHYLJrQFLDGRWHUPRGHDGHVmRFRPUHODomRDRVVHJXLQWHVWULEXWRVIHGHUDLV ,PSRVWRGH
5HQGDGH3HVVRD-XUtGLFD³,53-´H&RQWULEXLomR6RFLDOVREUHR/XFUR/tTXLGR³&6//´LQVWLWXtGDSHOD/HLQ GHGHGH]HPEURGH
&2),16LQVWLWXtGDSHOD/HL&RPSOHPHQWDUQGH GHGH]HPEURGH H3,6LQVWLWXtGDSHOD/HL&RPSOHPHQWDUQGH
GHVHWHPEURGH $VLVHQo}HVDFLPDPHQFLRQDGDVVmRRULJLQDOPHQWHFDOFXODGDVVREUHRYDORUGDUHFHLWDDXIHULGDHPGHFRUUrQFLD
GDUHDOL]DomRGHDWLYLGDGHVGHHQVLQRVXSHULRUSURYHQLHQWHVGHFXUVRVGHJUDGXDomRHFXUVRVVHTXHQFLDLVGHIRUPDomRHVSHFt¿FD(d)
ISS $VUHFHLWDVGDVDWLYLGDGHVGHHQVLQRLQFLGHPR,PSRVWRVREUH6HUYLoRVGH4XDOTXHU1DWXUH]D³,66´FRQIRUPHUHJXODPHQWDGRQDOHL
FRPSOHPHQWDUQDVDOtTXRWDVGHDDGHSHQGHUGRPXQLFtSLR2WULEXWRpUHFRQKHFLGRGHDFRUGRFRPRUHFRQKH
FLPHQWRGHUHFHLWDGD&RPSDQKLD29.17. Lucro por ação:$&RPSDQKLDHIHWXDRVFiOFXORVGROXFURSRUORWHGHPLODo}HVXWLOL]DQGRR
Q~PHURPpGLRSRQGHUDGRGHDo}HVRUGLQiULDVWRWDLVHPFLUFXODomRGXUDQWHRSHUtRGRFRUUHVSRQGHQWHDRUHVXOWDGRFRQIRUPH3URQXQFLD
PHQWR7pFQLFR&3& ,$6 29.18. Capital social:$VDo}HVRUGLQiULDVVmRFODVVL¿FDGDVQRSDWULP{QLROtTXLGRVFXVWRVLQFUHPHQWDLV
GLUHWDPHQWHDWULEXtYHLVjHPLVVmRGHQRYDVDo}HVRXRSo}HVVmRGHPRQVWUDGRVQRSDWULP{QLROtTXLGRFRPRXPDGHGXomRGRYDORUFDS
WDGROtTXLGDGHLPSRVWRV29.19. Reconhecimento da receita, custos e despesas: $VUHFHLWDVFXVWRVHGHVSHVDVVmRUHFRQKHFLGRV
SHORUHJLPHGHFRPSHWrQFLD(a) Receita de serviços: $UHFHLWDFRPSUHHQGHRYDORUMXVWRGDFRQWUDSUHVWDomRUHFHELGDRXDUHFHEHUGDV
DWLYLGDGHVGHHQVLQRVXSHULRUSyVJUDGXDomRFXUVRVOLYUHVHDWLYLGDGHVHGXFDFLRQDLVFRUUHODWDV$UHFHLWDpDSUHVHQWDGDOtTXLGDGRV
LPSRVWRVGDVGHYROXo}HVGRVDEDWLPHQWRVHGRVGHVFRQWRV$UHFHLWDSHODSUHVWDomRGHVHUYLoRVpUHFRQKHFLGDWHQGRFRPREDVHRV
VHUYLoRVUHDOL]DGRVDWpDGDWDGREDODQoR$VPHQVDOLGDGHVGRVFXUVRVHVHXVUHVSHFWLYRVGHVFRQWRVYDULDPGHDFRUGRFRPRFXUVRD
8QLGDGHRXRWHUPRDFDGrPLFR$VUHFHLWDVVmRJHUDGDVFRPEDVHHPFRQWUDWRVGHSUHoR¿[RVHQGRUHFRQKHFLGDVPHQVDOPHQWHFRP
EDVHQDSUHVWDomRGRVHUYLoR$&RPSDQKLDDGHULXHPRXWXEURGHDR3URJUDPD1DFLRQDOGH$FHVVRDR(QVLQR7pFQLFR 3521$
7(& FULDGRSHOR0LQLVWpULRGD(GXFDomR 0(& SDUDH[SDQGLUDRIHUWDGHFXUVRVWpFQLFRVHSUR¿VVLRQDLVGHQtYHOPpGLRHGHFXUVRVGH
IRUPDomRLQLFLDOHFRQWLQXDGDSDUDWUDEDOKDGRUHVEUDVLOHLURV$VUHFHLWDVVmRJHUDGDVFRPEDVHQDEROVDIRUPDomRVHQGRUHFRQKHFLGDV
PHQVDOPHQWHFRPEDVHQDSUHVWDomRGHVHUYLoRFRQVLGHUDQGRDFRQ¿UPDomRGHSUHVHQoDSRUFDGDDOXQRGHDFRUGRFRPDVFRQGLo}HV
HUHTXLVLWRVGRSURJUDPD$&RPSDQKLDUHJLVWUDFRPRGHVFRQWRRVHQFDUJRVHGXFDFLRQDLVGHFRUUHQWHVGRVFRQWUDWRVGH¿QDQFLDPHQWR
JDUDQWLGRVSHORVDOXQRVTXHDGHULUDPDR)*('8&GHDFRUGRFRPD3RUWDULD1RUPDWLYD1GHGHRXWXEURGH3RUWDULD1RU
PDWLYD1GHGHMXQKRGHH3RUWDULD1RUPDWLYD1GHGHMDQHLURGH2VHQFDUJRVHGXFDFLRQDLVVRPDPGD
UHFHLWDRULXQGDGRVDOXQRVTXHSRVVXHPDGHVmRDR)*('8&SHOR),(6$GLFLRQDOPHQWHDSDUWLUGHIRLLQFOXtGRXPQRYRGHVFRQWR
GHUHODWLYRVDRVHQFDUJRV),(6FRQIRUPH0HGLGD3URYLVyULD1 ³03´ E 5HFHLWDVHGHVSHVDV¿QDQFHLUDV: $UHFHLWD¿
QDQFHLUDpUHFRQKHFLGDFRQIRUPHRSUD]RGHFRUULGRSHORUHJLPHGHFRPSHWrQFLDXVDQGRRPpWRGRGDWD[DHIHWLYDGHMXURV29.20. Distribuição de dividendos e juros sobre capital próprio: $GLVWULEXLomRGHGLYLGHQGRVHMXURVVREUHFDSLWDOSUySULRSDUDRVDFLRQLVWDVGD
&RPSDQKLDpUHFRQKHFLGDFRPRXPSDVVLYRQDVGHPRQVWUDo}HV¿QDQFHLUDVGR*UXSRDR¿QDOGRH[HUFtFLRFRPEDVHQRHVWDWXWRVRFLDO
GD&RPSDQKLDTXHHVWDEHOHFHFRPRPtQLPRREULJDWyULRHRVGLYLGHQGRVHMXURVVREUHRFDSLWDOSUySULRTXHHYHQWXDOPHQWHWHQKDP
VLGRSDJRVDWtWXORGHDQWHFLSDomRGXUDQWHRH[HUFtFLR4XDOTXHUYDORUDFLPDGRPtQLPRREULJDWyULRVRPHQWHpSURYLVLRQDGRQDGDWDHP
TXHVmRDSURYDGRVSHORVDFLRQLVWDVHP$VVHPEOHLD*HUDO2HIHLWR¿VFDOGRVMXURVVREUHFDSLWDOSUySULRpUHFRQKHFLGRQDGHPRQVWUDomR
GHUHVXOWDGR
-kQ\R-DQJXLr%H]HUUD'LQL]Diretor Presidente; -RmR$OEpULFR3RUWRGH$JXLDUDiretor Executivo de Finanças;
.ULVWLDQR%HQDYLGD6LOYDContador - CRC-PB 007867/O-3-S-PE
PARECER DO CONSELHO FISCAL
2V PHPEURV GR &RQVHOKR )LVFDO GD 6HU (GXFDFLRQDO 6$ ³&RPSDQKLD´ QR XVR GH VXDV DWULEXLo}HV OHJDLV H HVWDWXWiULDV GDQGR
FXPSULPHQWRDRGLVSRVWRQRDUWLJRGD/HLQHVXDVDOWHUDo}HVSRVWHULRUHVH[DPLQDUDPRUHODWyULRDQXDOGDDGPLQLVWUDomR
HDVGHPRQVWUDo}HV¿QDQFHLUDVLQGLYLGXDLVHFRQVROLGDGDVGD&RPSDQKLDUHODWLYDVDRH[HUFtFLR¿QGRHPGHGH]HPEURGH
DFRPSDQKDGDV GDV FRUUHVSRQGHQWHV QRWDV H[SOLFDWLYDV HODERUDGRV GH DFRUGR FRP D OHJLVODomR YLJHQWH EHP FRPR H[DPLQDUDP D
SURSRVWDGHGLVWULEXLomRGHGLYLGHQGRVDSUHVHQWDGDSHODDGPLQLVWUDomRGD&RPSDQKLD&RPEDVHQRVGRFXPHQWRVH[DPLQDGRVQRV
HVFODUHFLPHQWRV SUHVWDGRV SRU UHSUHVHQWDQWHV GD DGPLQLVWUDomR GD &RPSDQKLD H QR UHODWyULR GD 3ULFHZDWHUKRXVH&RRSHUV $XGLWRUHV
,QGHSHQGHQWHVVREUHDVUHIHULGDVGHPRQVWUDo}HV¿QDQFHLUDVHPLWLGRVHPUHVVDOYDVQDGDWDGHKRMHFRQFOXtUDPSRUXQDQLPLGDGHTXH
RVPHQFLRQDGRVGRFXPHQWRVMXQWDPHQWHFRPRUHODWyULRDQXDOGDDGPLQLVWUDomRHFRPDSURSRVWDGHGLVWULEXLomRGHGLYLGHQGRVHVWmRHP
FRQGLo}HVGHVHUHPVXEPHWLGRVjDSUHFLDomRGD$VVHPEOHLD*HUDO2UGLQiULDGH$FLRQLVWDVGD&RPSDQKLD5HFLIHGHPDUoRGH
Reginaldo F. Alexandre - &RQVHOKHLUR Fernando Eduardo R. Santos - &RQVHOKHLUR Nazareno Habib O. Bichara - &RQVHOKHLUR