Cosan Ltd. | CIK:0001402902 | 3

  • Filed: 4/27/2018
  • Entity registrant name: Cosan Ltd. (CIK: 0001402902)
  • Generator: Donnelley Financial Solutions
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1402902/000119312518138511/0001193125-18-138511-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1402902/000119312518138511/czz-20171231.xml
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    • ifrs-full:DisclosureOfRelatedPartyExplanatory

    12 Related parties

     

      a) Receivables from and payables to related parties:

     

         December 31,
    2017    		      December 31,
    2016    		  

    Current Asset

    		      

    Commercial operation

    		      

    Raízen Energia S.A.(i)

    		      22,283        37,249  

    Aguassanta Participações S.A.

    		      17        6,342  

    Radar Propriedades Agrícolas S.A.

    		      —          517  

    Raízen Combustíveis S.A.(i)

    		      6,094        4,206  

    Other

    		      1,665        531  
      

     

     

    		     

     

     

    		  
         30,059        48,845  

    Corporate operation / Agreements

    		      

    Raízen Energia S.A.(i)

    		      —          9,672  
      

     

     

    		     

     

     

    		  
         30,059        58,517  
      

     

     

    		     

     

     

    		  

    Non-current assets

    		      

    Receivables under the framework agreement

    		      

    Janus Brasil Participações S.A

    		      30,423        28,705  

    Raízen Energia S.A.(i)

    		      87,969        114,473  

    Raízen Combustíveis S.A.(i)

    		      18,086     
      

     

     

    		     

     

     

    		  
         136,478        143,178  

    Financial and corporation operations

    		      

    Rezende Barbosa(ii)

    		      31,444        38,944  

    Other

    		      1,833        1,618  
      

     

     

    		     

     

     

    		  
         33,277        40,562  
      

     

     

    		     

     

     

    		  
         169,755        183,740  
      

     

     

    		     

     

     

    		  

    Current liabilities

    		      

    Corporate operations

    		      

    Raízen Energia S.A.(i)

    		      198,198        160,030  

    Raízen Combustíveis S.A.(i)

    		      128,189        75,624  

    Other

    		      1,876        1,427  
      

     

     

    		     

     

     

    		  
         328,263        237,081  
      

     

     

    		     

     

     

    		  

     

      b) Related party transactions:

     

         December 31,
    2017    		     December 31,
    2016    		     December 31,
    2015    		  

    Sales of goods and services

    		       

    Raízen Combustíveis S.A

    		      154,104       135,581       98,235  

    Raízen Energia S.A.

    		      411,443       416,507       353,265  

    Others

    		      8,381       —         —    
      

     

     

    		    

     

     

    		    

     

     

    		  
         573,928       552,088       451,500  

    Purchase of goods / Inputs

    		       

    Raízen Energia S.A.

    		      (1,347 )      (1,703 )      (2,431 ) 

    Raízen Combustíveis S.A.

    		      (1,006,515 )      (817,198 )      (445,123 ) 
      

     

     

    		    

     

     

    		    

     

     

    		  
         (1,007,862 )      (818,901 )      (447,554 ) 

    Discontinued operation

    		       

    Raízen Energia S.A.

    		      —         57,007       58,508  
      

     

     

    		    

     

     

    		    

     

     

    		  
         —         57,007       58,508  

    Shared expense

    		       

    Raízen Energia S.A.(i)

    		      (70,914 )      (72,597 )      (41,483 ) 
      

     

     

    		    

     

     

    		    

     

     

    		  
         (70,914 )      (72,597 )      (41,483 ) 

    Financial result

    		       

    Usina Santa Luiza

    		      (378 )      (180 )      —    

    Raízen Energia S.A.

    		      7,727       2,441       2,440  

    Other(iii)

    		      3       (8 )      (190 ) 
      

     

     

    		    

     

     

    		    

     

     

    		  
         7,352       2,253       2,250  

     

    For the years stated, no loss for doubtful accounts was recorded from commercial operations with its subsidiaries, associates and joint ventures.
    (i) Raízen Energia and Raízen Combustíveis

    Non-current assets receivable from Raízen Energia and Raízen Combustíveis are, primarily, tax credits which will be reimbursed to the Company when realized. Current liabilities represent payables in relation to expenses paid by Raízen Energia and Raízen Combustíveis to Cosan S.A..

    (ii) Rezende Barbosa Group

    The Company has receivables with Rezende Barbosa for the repayment of loans taken prior to the acquisition of the subsidiaries. These receivables are secured by Cosan S.A. shares.

     

      c) Officers’ and directors’ compensation

     

         December 31,
    2017    		      December 31,
    2016    		      December 31,
    2015    		  

    Short-term benefits to officers and directors

    		      76,976        146,469        79,620  

    Post-employment benefits

    		      934        918        339  

    Other long-term benefits

    		      664        533        —    

    Benefits from termination of employment contract

    		      635        2,367        —    

    Share-based payment transactions

    		      63,658        11,621        12,661  
      

     

     

    		     

     

     

    		     

     

     

    		  
         142,867        161,908        92,620