AMBEV S.A. | CIK:0001565025 | 3

  • Filed: 3/19/2018
  • Entity registrant name: AMBEV S.A. (CIK: 0001565025)
  • Generator: Thunderdome
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1565025/000129281418000752/0001292814-18-000752-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1565025/000129281418000752/abev-20171231.xml
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    • ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory

    11.
    FINANCE COST AND INCOME
     
    (a)
    Finance costs
     
        2017     2016     2015  
    Interest expense    
    (1,571.6
    		 )    
    (1,547.3
    		 )    
    (1,062.6
    		 )
    Capitalized borrowings    
    2.3
    		      
    3.9
    		      
    26.0
    		  
    Net Interest on pension plans    
    (77.6
    		 )    
    (105.6
    		 )    
    (97.6
    		 )
    Losses on hedging instruments    
    (616.7
    		 )    
    (1,575.1
    		 )    
    (1,267.0
    		 )
    Interest on provision for disputes and litigations    
    (225.9
    		 )    
    (619.5
    		 )    
    (120.1
    		 )
    Exchange variation    
    (339.5
    		 )    
    (310.4
    		 )    
    (721.8
    		 )
    Tax on financial transactions    
    (179.7
    		 )    
    (224.6
    		 )    
    (146.4
    		 )
    Bank guarantee expenses    
    (89.5
    		 )    
    (87.1
    		 )    
    (80.8
    		 )
    Other financial results    
    (193.3
    		 )    
    (132.2
    		 )    
    (92.1
    		 )
         
    (3,291.5
    		 )    
    (4,597.9
    		 )    
    (3,562.4
    		 )
                             
    Non-recurring finance cost    
    (976.8
    		 )    
    -
    		      
    -
    		  
         
    (4,268.3
    		 )    
    (4,597.9
    		 )    
    (3,562.4
    		 )
     
    The exceptional net finance cost refers to PERT
    2017
    which Ambev applied for – see Note
    19
    -
    Income tax and social contribution
    and to the realization of the exchange variation of loans settled with related parties historically recognized in shareholders' equity.
     
    Interest expenses are presented net of the effect of interest rate derivative financial instruments which mitigate Ambev interest rate risk (Note
    27
    –
    Financial instruments and risks
    ). The interest expense are as follows:
     
        2017     2016     2015  
    Financial liabilities measured at amortized cost    
    (477.6
    		 )    
    (545.6
    		 )    
    (423.1
    		 )
    Liabilities at fair value through profit or loss    
    (1,076.2
    		 )    
    (961.0
    		 )    
    (601.3
    		 )
    Fair value hedge - hedged items    
    (19.7
    		 )    
    (49.3
    		 )    
    (22.4
    		 )
    Fair value hedge - hedging instruments    
    1.9
    		      
    8.6
    		      
    (15.8
    		 )
         
    (1,571.6
    		 )    
    (1,547.3
    		 )    
    (1,062.6
    		 )
     
    (b)
    Finance income
     
        2017     2016     2015  
    Interest income    
    458.8
    		      
    513.6
    		      
    575.5
    		  
    Gains on derivative    
    73.7
    		      
    113.5
    		      
    428.3
    		  
    Financial assets at fair value through profit or loss    
    227.6
    		      
    247.5
    		      
    261.4
    		  
    Other financial results    
    14.3
    		      
    21.3
    		      
    29.0
    		  
         
    774.4
    		      
    895.9
    		      
    1,294.2
    		  
     
    Interest income arises from the following financial assets:
     
        2017     2016     2015  
    Cash and cash equivalents    
    233.4
    		      
    241.5
    		      
    425.9
    		  
    Investment securities held for trading    
    26.9
    		      
    51.1
    		      
    149.6
    		  
    Other receivables    
    198.5
    		      
    221.0
    		      
    -
    		  
         
    458.8
    		      
    513.6
    		      
    575.5