CVM Resolution 117 (Repealed) - Approval of Consolidated Technical Pronouncement CPC 09 on the Statement of Added Value — CVM — BR

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL (CVM) Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, Rio de Janeiro/RJ – ZIP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/SP – ZIP: 01333-010 – Brazil - Tel.: (11) 2146-2000 Approves the consolidation of Technical Pronouncement CPC 09 of the Accounting Pronouncements Committee - CPC, which deals with the statement of added value.

The PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION OF BRAZIL – CVM makes public that the Board, in a meeting held on May 4, 2022, based on §§ 3 and 5 of art. 177 of Law No. 6,404, of December 15, 1976, combined with items II and IV of § 1 of art. 22 of Law No. 6,385, of December 7, 1976, as well as arts. 5 and 14 of Decree No. 10,139, of November 28, 2019, APPROVED the following Resolution:

Art. 1 It makes mandatory for open corporations the Technical Pronouncement CPC 09, which deals with the statement of added value, issued by the Accounting Pronouncements Committee - CPC, as consolidated in Annex “A” to this Resolution.

Art. 2 Deliberation 557, of November 12, 2008, is revoked, from the effective date of this Resolution.

Art. 3 This Resolution enters into force on July 1, 2022.

Signed electronically by
MARCELO BARBOSA
President

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL (CVM) Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, Rio de Janeiro/RJ – ZIP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/SP – ZIP: 01333-010 – Brazil - Tel.: (11) 2146-2000
ANNEX “A”
ACCOUNTING PRONOUNCEMENTS COMMITTEE
TECHNICAL PRONOUNCEMENT CPC 09
STATEMENT OF ADDED VALUE

Summary Item
OBJECTIVE 1 - 2
SCOPE AND PRESENTATION 3 – 8
DEFINITIONS 9
CHARACTERISTICS OF DVA INFORMATION
WEALTH FORMATION 10 – 14
WEALTH DISTRIBUTION 15
SPECIAL CASES – SOME EXAMPLES 16 - 27
FINANCIAL INTERMEDIATION ACTIVITY (BANKING)
WEALTH FORMATION 28 – 29
WEALTH DISTRIBUTION 30
INSURANCE AND PENSION ACTIVITY
WEALTH FORMATION 31 – 32
WEALTH DISTRIBUTION 33
MODELS

Objective

The objective of this Technical Pronouncement is to establish criteria for the preparation and presentation of the Statement of Added Value (DVA), which represents one of the components of the Social Balance Sheet and aims to evidence the wealth created by the entity and its distribution, during a certain period.
Its preparation must take into account the Basic Conceptual Pronouncement of the CPC entitled Basic Conceptual Framework for the Preparation and Presentation of Financial Statements, and its data, for the most part, are obtained mainly from the Income Statement.

Scope and Presentation
3. The entity must prepare the DVA and present it as an integral part of its financial statements disclosed at the end of each fiscal year.
4. The preparation of the consolidated DVA must be based on the consolidated financial statements and evidence the participation of non-controlling shareholders according to the model attached.
5. The DVA must provide users of financial statements with information regarding the wealth created by the entity in a certain period and the manner in which such wealth was distributed.
6. The distribution of created wealth must be detailed, at a minimum, as follows:
(a) personnel and charges;
(b) taxes, fees, and contributions;
(c) interest and rents;
(d) interest on equity (JCP) and dividends;
(e) retained earnings/losses of the period.
7. Commercial (trading and industrial) and service-providing entities must use Model I, applicable to companies in general, while for specific activities, such as financial intermediation activities (banking financial institutions) and insurance, the specific models (II and III) included in this Pronouncement must be used.
8. The minimum items of the model for commercial entities (companies in general) are presented in the sequence, and the model itself is at the end of this Pronouncement.

Definitions
9. The terms below are used in this Pronouncement with the following meanings:
Added value represents the wealth created by the company, generally measured by the difference between the value of sales and inputs acquired from third parties. It also includes added value received in transfer, that is, produced by third parties and transferred to the entity. Revenue from sale of goods, products, and services represents the values recognized in accounting under this title by the accrual basis and included in the income statement of the period. Other revenues represent values that originate, mainly, from write-offs due to alienation of non-current assets, such as results on the sale of fixed assets, investments, and other transactions included in the income statement of the period that do not constitute recognition of transfer to the entity of wealth created by other entities. Unlike accounting criteria, they also include values that do not pass through the income statement, such as those related to the construction of assets for the entity's own use (as per item 19) and to interest paid or credited that have been incorporated into the values of long-term assets (normally, fixed assets). In the case of long-maturity inventories, the interest incorporated into them must be highlighted as wealth distribution at the time the respective inventories are written off; thus, there is no need to consider this value as other revenue. Inputs acquired from third parties represent values related to the purchases of raw materials, merchandise, materials, energy, services, etc., that have been transformed into period expenses. While they remain in inventories, they do not compose the formation of created and distributed wealth. Depreciation, amortization, and depletion represent values recognized in the period and normally used to reconcile the cash flow from operating activities with the net income of the period. Added value received in transfer represents wealth that has not been created by the entity itself, but by third parties, and is transferred to it, such as financial revenues, equity method income, dividends, rent, royalties, etc. It must be highlighted, including to avoid double-counting in certain aggregations.

Characteristics of DVA Information
10. The DVA is based on macroeconomic concepts, seeking to present, eliminating values that represent double-counting, the portion of contribution that the entity has in the formation of Gross Domestic Product (GDP). This statement presents how much value the entity adds to inputs acquired from third parties that are sold or consumed during a certain period.
11. However, there are temporal differences between the accounting and economic models in the calculation of added value. Economic science, for the calculation of GDP, is based on production, while accounting uses the accounting concept of revenue realization, that is, it is based on the accrual accounting basis. Since the moments of production realization and sales are normally different, the values calculated for GDP through concepts derived from Economics and those from Accounting are naturally different in each period. These differences will be smaller the smaller the differences between the beginning and ending inventories for the considered period. In other words, assuming the non-existence of beginning and ending inventories, the values found using economic and accounting concepts will converge.
12. For investors and other users, this statement provides knowledge of economic and social nature information and offers the possibility of better evaluation of the entity's activities within the society in which it is inserted. The decision of a community (Municipality, State, and the Federation itself) to receive investment may find in this statement an instrument of extreme utility and with information that, for example, the income statement alone is not capable of offering.
13. The DVA prepared by segment (type of customers, activities, products, geographic area, and others) can represent even more valuable information in aiding the formulation of predictions, and while there is no specific CPC pronouncement on segments, its disclosure is encouraged.

Wealth Formation
Wealth created by the entity itself
14. The DVA, in its first part, must present in detail the wealth created by the entity. The main components of created wealth are presented below in the following items:
Revenues
Sale of goods, products, and services - includes the values of taxes levied on these revenues (for example, ICMS, IPI, PIS, and COFINS), that is, it corresponds to gross inflow or gross billing, even when in the income statement such taxes are outside the computation of these revenues. Other revenues - in the same way as the previous item, includes taxes levied on these revenues. Provision for doubtful debts - Establishment/Reversal - includes values related to the establishment and reversal of this provision. Inputs acquired from third parties Cost of goods, merchandise, and services sold - includes the values of raw materials acquired from third parties and contained in the cost of goods sold, merchandise, and services sold acquired from third parties; it does not include expenses with own personnel. Materials, energy, third-party services, and others - includes values related to expenses originating from the use of these goods, utilities, and services acquired from third parties. In the values of the costs of goods and merchandise sold, materials, services, energy, etc., consumed, taxes included at the time of purchases (for example, ICMS, IPI, PIS, and COFINS), recoverable or not, must be considered. This procedure is different from the practices used in the income statement. Loss and recovery of asset values - includes values related to adjustments to market value of inventories, fixed assets, investments, etc. Values recognized in the period's result, both in the establishment and reversal of provision for impairment losses on assets, must also be included, according to the application of CPC 01 – Impairment of Assets (if in the period the net value is positive, it must be added). Depreciation, amortization, and depletion - includes the expense or cost accounted for in the period. Added value received in transfer Equity method income - the equity method result may represent revenue or expense; if expense, it must be considered as a reduction or negative value. Financial revenues - includes all financial revenues, including active exchange rate variations, regardless of their origin. Other revenues - includes dividends related to investments evaluated at cost, rents, franchise rights, etc.

Wealth Distribution
15. The second part of the DVA must present in detail how the wealth obtained by the entity was distributed. The main components of this distribution are presented below:
Personnel – values appropriated to cost and to the period's result in the form of:

Direct remuneration - represented by values related to salaries, 13th salary, administrative fees (including payments based on shares), vacation, commissions, overtime, employee participation in results, etc.
Benefits - represented by values related to medical assistance, food, transportation, retirement plans, etc.
FGTS (Severance Indemnity Fund) – represented by values deposited in the employees' linked account.
Taxes, fees, and contributions - values related to income tax, social contribution on profit, contributions to INSS (including here the values of Work Accident Insurance) that are the employer's burden, as well as other taxes and contributions to which the company is subject. For compensable taxes, such as ICMS, IPI, PIS, and COFINS, only the values due or already collected must be considered, and they represent the difference between taxes and contributions levied on revenues and the respective values levied on items considered as “inputs acquired from third parties”.
Federal – includes taxes due to the Union, including those that are passed on in whole or in part to States, Municipalities, Autonomous Agencies, etc., such as: IRPJ, CSSL, IPI, CIDE, PIS, COFINS. It also includes the employer's union contribution.
State – includes taxes due to the States, including those that are passed on in whole or in part to Municipalities, Autonomous Agencies, etc., such as ICMS and IPVA.
Municipal – includes taxes due to Municipalities, including those that are passed on in whole or in part to Autonomous Agencies, or any other entities, such as ISS and IPTU.
Remuneration of third-party capital - values paid or credited to external capital financiers.
Interest - includes financial expenses, including passive exchange rate variations, related to any type of loans and financing from financial institutions, group companies, or other forms of obtaining resources. It includes values that have been capitalized in the period.
Rents - includes rents (including expenses with operating leases) paid or credited to third parties, including those added to assets.
Others - includes other remunerations that constitute transfer of wealth to third parties, even if originated from intellectual capital, such as royalties, franchise, copyrights, etc.
Remuneration of own capital - values related to remuneration attributed to partners and shareholders.
Interest on equity (JCP) and dividends - includes values paid or credited to partners and shareholders for the period's result, except for JCP values transferred to profit reserve accounts. Only values distributed based on the result of the own exercise must be included, disregarding dividends distributed based on accumulated earnings from previous exercises, as they were already treated as “retained earnings” in the exercise in which they were generated.
Retained earnings and losses of the period - includes values related to the period's profit destined to reserves, including JCP when it has this treatment; in cases of loss, this value must be included with a negative sign.
Amounts destined to partners and shareholders in the form of Interest on Own Capital – JCP, regardless of whether they are registered as liability (JCP payable) or as profit reserve, must have the same treatment given to dividends regarding the exercise to which they must be imputed.

Special Cases - Some Examples
Depreciation of revalued items or items evaluated at fair value.
16. The revaluation of assets and the evaluation of assets at their fair value cause alterations in the company's equity structure and, therefore, normally require the accounting recording of their tax effects.
17. The company's results are affected whenever the respective revalued or fair value assets are realized. When the realization of a certain asset occurs through the normal process of depreciation, consequently, the DVA is also affected. Thus, at the moment of realization of the revaluation or fair value evaluation, this value must be included as “other revenues” in the DVA, and the respective taxes are recognized in the own line of taxes, fees, and contributions.
Adjustments of previous periods
18. Adjustments of previous periods, resulting from effects caused by error attributable to a previous period or from the change of accounting criteria that had been used by the entity, must be adapted in the statement of added value relative to the oldest period presented for comparison purposes, as well as the other comparative values presented, as if the new accounting practice were always in use or the error were corrected.
Assets constructed by the company for own use
19. The construction of assets within the own company for its own use is a common procedure. In this construction, various production factors are used, including the hiring of external resources (for example, materials and outsourced labor) and the use of internal factors such as labor, with the consequent costs that this hiring and use provoke. For the preparation of the DVA, this construction is equivalent to production sold to the own company, and therefore its full accounting value must be considered as revenue. The own labor allocated is considered as distribution of this created wealth, and any capitalized interest and taxes also receive this same treatment. Expenses with third-party services and materials are appropriated as inputs.
20. As such assets enter into operation, the generation of results from these assets receives treatment identical to results generated by any other asset acquired from third parties; therefore, its depreciation must also receive equal treatment.
21. To avoid the dismemberment of depreciation expenses in the preparation of the DVA, among the components that served as the basis for the respective recording of the internally constructed asset (various materials, labor, taxes, rents, and interest), the values spent in this construction must, in the construction period, be treated as Revenues related to the construction of own assets. In the same way, the components of its cost must be allocated in the DVA following their respective natures.
22. This procedure of recognizing values spent in the period as other revenues, in addition to approximating the economic concept of added value, avoids complex additional controls, which can be costly, throughout the economic useful life of the asset.
Distribution of profits related to previous periods
23. The Statement of Added Value is structured to be prepared from the Income Statement of the period. Thus, there is a close link between these two statements, and this link must serve to support the consistency between them. But it also has an interface with the Statement of Accumulated Profits or Losses in the part where movements in this account relate to the distribution of the result of the period ascertained in the own statement.
24. The entity is free, within legal limits, to distribute its accumulated profits, whether they originate from the own exercise or from previous exercises. However, by the link referred to in the previous item, the dividends that compose the wealth distributed by the entity must be restricted exclusively to the portion relative to the results of the own period. Dividends distributed relative to profits of previous periods are not considered, as they already appeared as retained earnings in those respective periods.
Tax substitution
25. Brazilian legislation, through specific legal provisions, allows the transfer of tax liability to a third party, as long as it is linked to the tax event. This transfer of responsibility, which can be total or partial and has as its main purpose the guarantee of tax collection, is effected in two ways: progressive and regressive.
26. Progressive tax substitution occurs with the advance payment of the tax that will only be due in the following operation. From the point of view of the tax substitute (normally manufacturer or importer), the value of the “advanced tax” must be included in gross billing and then presented as a deduction from this billing to arrive at gross revenue.
27. In the case of regressive tax substitution, for example, when the merchant carries out an operation with a rural producer and is responsible for the tax collection, two situations may occur: in the case of the merchant having the right to credit in the following operation, when the value of the collected tax must be treated as taxes to be recovered, in the DVA the value of taxes levied on sales must be considered by the total value, since it was collected by the merchant itself; if the merchant is not entitled to the tax credit, the collected value must be treated as inventory cost.
Financial Intermediation Activity (Banking)

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL
Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, Rio de Janeiro/RJ – ZIP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/ SP – ZIP: 01333-010 – Brazil - Tel.: (11) 2146-2000

Wealth Formation

The main components in the formation of wealth in this activity are presented below:

Financial intermediation revenues - includes revenues from credit operations, leasing, exchange rate results, securities and other financial instruments, and others.

Service provision revenue - includes revenues related to the collection of fees for service provision.

Provision for doubtful collection credits - Constitution/Reversal - includes values related to the establishment and write-off of the provision.

Other revenues - includes part of the values realized from asset valuation adjustments, values related to the construction of assets within the entity itself, etc. It also includes values considered outside the entity's main activities, such as: gains and losses on the disposal of fixed assets, gains and losses on the disposal of investments, etc.

In the banking activity, by convention, it is assumed that expenses with financial intermediation must be part of the net formation of wealth and not its distribution.

Financial intermediation expenses - includes expenses with funding operations, loans, transfers, leasing, and others.

Inputs acquired from third parties

Materials, energy, and others - includes values related to expenses originating from acquisitions and payments to third parties.

Third-party services - includes personnel expenses that are not own personnel.

Loss and Recovery of asset values - includes values related to market value adjustments of investments (if the net value in the period is positive, it must be added).

Depreciation, amortization, and depletion - includes the expense accounted for in the period.

Added value received in transfer

Equity method results - the equity method result may represent revenue or expense; if the latter, it must be considered as a reduction or negative value.

Other revenues - includes dividends related to investments evaluated at cost, rents, franchise rights, etc.

Wealth Distribution

The second part of the Statement of Added Value (DVA) must present in detail how the wealth obtained by the entity was distributed. The main components of this distribution are presented below:

Personnel – values appropriated to the cost and to the result of the fiscal year in the form of:

Direct remuneration - values related to salaries, 13th salary, board of directors' fees, vacation, commissions, overtime, employee participation in results, etc.
Benefits - values related to medical assistance, food, transportation, retirement plans, etc.
FGTS (Severance Indemnity Fund) - values due to employees and deposited in a linked account.

Taxes, fees, and contributions - values related to income tax, social contribution on profit, contributions to INSS (including here the values of the Work Accident Insurance) that are the employer's burden, as well as other taxes and contributions to which the entity is subject.

Federal - includes taxes due to the Union, including those that are transferred in whole or in part to the States, Municipalities, Autonomous Agencies, etc., such as: IRPJ, CSSL, etc. It also includes the employer union contribution.
State - includes taxes due to the States, including those that are transferred in whole or in part to the Municipalities, Autonomous Agencies, etc., such as IPVA.
Municipal - includes taxes due to the Municipalities, including those that are transferred in whole or in part to Autonomous Agencies or any other entities, such as ISS and IPTU.

Remuneration of third-party capital - values paid or credited to external capital financiers.

Rents - rent values (including expenses with operational leasing) paid or credited to third parties, including those added to assets.
Others - values of remunerations that constitute a transfer of wealth to third parties, even if originated from intellectual capital, such as royalties, franchise, copyrights, etc.

Remuneration of own capital - values related to the remuneration attributed to partners and shareholders.

Interest on own capital (JCP) and dividends - includes the values paid or credited to partners and shareholders on account of the period's result, except for the values of JCP transferred to the profit reserve account. Only values distributed based on the result of the own period must be included, disregarding dividends distributed based on accumulated profits from previous fiscal years, as they have already been treated as "retained profits" in the fiscal year in which they were generated.
Retained profits and losses of the fiscal year - includes values related to the fiscal year's profit destined for reserves, including JCP when it has this treatment; in cases of loss, this value must be included with a negative sign.
The amounts destined to partners and shareholders in the form of JCP, regardless of whether they are registered as liability (JCP payable) or as profit reserve, must have the same treatment given to dividends with respect to the period to which they must be imputed.

Insurance and Pension Activities

Wealth Formation

The main components in the formation of wealth in these activities are presented below:

Revenues from insurance operations - includes revenues from the sale of policies and accepted reinsurance operations, already net of returned or cancelled premiums, as well as retrocession; revenues arising from recovery operations of claims with salvaged goods and reimbursement.

Revenues from complementary pension operations - includes revenues related to the sale of this type of pension plan.

Other revenues - includes other operational revenues of any nature. It also includes revenues arising from activities that are not included in the entity's main operation.

Provision for doubtful collection credits - Constitution/Reversal - includes values related to the establishment/write-off of the provision.

Variation of technical provisions in insurance operations - represents the adjustment of retained premiums for the accrual basis regime according to the validity of each insurance policy.

Variation of technical provisions in pension operations - represents the variation of the mathematical provision of complementary pension plans opened upon the effective receipt of contributions.

In insurance and pension activities, retained claims and expenses with benefits and surrenders, which represent the total of net indemnities to be paid to insured parties, must be deducted from revenues.

Claims - values of indemnities that are the responsibility of the fiscal year.

Variation of the provision for claims occurred but not reported - value of the adjustment of the provision for claims occurred but not reported.

Expense with benefits and surrenders - value of benefits granted and surrenders effected of that period's responsibility.

Variation of the provision for events occurred but not reported - value of the adjustment of the provision for events occurred but not reported to the company.

Inputs acquired from third parties

Materials, energy, and others - value of materials and energy consumed, general and administrative expenses, and all those that do not have specific treatment, acquired from third parties.

Third-party services, net commissions - value of resources paid to third parties for service provision, in addition to commissions paid to brokers.

Variation of deferred marketing expenses - value of the adjustment of marketing expenses (basically, commissions) for the accrual basis regime according to the validity of each insurance policy.

Loss and recovery of asset values - includes values related to market value of investments (if the net value in the period is positive, it must be added).

Depreciation, amortization, and depletion - includes the expense accounted for in the period.

Added value received/ceded in transfer

Financial revenue - resulting from applications in securities and other financial applications, including active exchange rate variations.

Equity method results - this result may represent revenue or expense: if expense, it must be reported in parentheses.

Result with ceded reinsurance operations - portion of premiums that the insurer passes to reinsurers with the intention of dividing responsibilities to reduce risks. It also includes the portion of claims that the insurer receives from these reinsurers.

Result with ceded co-insurance operations - portion of premiums that the insurer passes to other insurers with the intention of dividing responsibilities to reduce risks. It also includes the portion of claims that the insurer receives from these reinsurers.

Other revenues - includes dividends related to investments evaluated at cost, rents, franchise rights, etc.

Wealth Distribution

The second part of the Statement of Added Value (DVA) must present in detail how the wealth obtained by the entity was distributed. The main components of this distribution are presented below:

Personnel – values appropriated to the cost and to the result of the fiscal year in the form of:

Direct remuneration - values related to salaries, 13th salary, board of directors' fees, vacation, commissions, overtime, employee participation in results, etc.
Benefits - values related to medical assistance, food, transportation, retirement plans, etc.
FGTS (Severance Indemnity Fund) - values due to employees and deposited in a linked account.

Taxes, fees, and contributions - values related to income tax, social contribution on profit, contributions to INSS (including here the values of the Work Accident Insurance) that represent the employer's burden, as well as other taxes and contributions to which the entity is subject.

Federal – includes taxes due to the Union, including those that are transferred in whole or in part to the States, Municipalities, Autonomous Agencies, etc., such as: IRPJ, CSSL, etc. It also includes the employer union contribution.
State – includes taxes due to the States, including those that are transferred in whole or in part to the Municipalities, Autonomous Agencies, etc., such as IPVA.
Municipal – includes taxes due to the Municipalities, including those that are transferred in whole or in part to Autonomous Agencies or any other entities, such as ISS and IPTU.

Remuneration of third-party capital - values paid or credited to external capital financiers.

Interest - includes financial expenses related to any type of loan and financing with financial institutions, group companies, or other forms of obtaining resources. It includes values that have been capitalized in the period.

Rents - includes rents (including expenses with operational leasing) paid or credited to third parties, including those added to assets.
Others - includes other remunerations that constitute a transfer of wealth to third parties, even if originated from intellectual capital, such as royalties, franchise, copyrights, etc.

Remuneration of own capital - values related to the remuneration attributed to partners and shareholders.

Interest on own capital (JCP) and dividends - includes the values paid or credited to partners and shareholders on account of the period's result, except for the values of JCP transferred to the profit reserve account. Only values distributed based on the result of the own fiscal year must be included, disregarding dividends distributed based on accumulated profits from previous fiscal years, as they have already been treated as "retained profits" in the fiscal year in which they were generated.
Retained profits and losses of the fiscal year - includes values related to the fiscal year's profit destined for reserves, including JCP when it has this treatment; in cases of loss, this value must be included with a negative sign.
The amounts destined to partners and shareholders in the form of JCP, regardless of whether they are treated as liability (JCP payable) or as profit reserve, must have the same treatment given to dividends with respect to the fiscal year to which they must be imputed.

The models presented below should be understood as indicative, and greater detail, in the name of greater transparency, may be used.

MODELS

Model I - Statement of Added Value – COMPANIES IN GENERAL

DESCRIPTION
In thousands of reais
20X1
In thousands of reais
20X0

1 – REVENUES
1.1) Sales of merchandise, products, and services 1.2) Other revenues 1.3) Revenues related to the construction of own assets 1.4) Provision for doubtful collection credits – Reversal / (Constitution)

2 – INPUTS ACQUIRED FROM THIRD PARTIES
(includes tax values – ICMS, IPI, PIS, and COFINS) 2.1) Costs of products, merchandise, and services sold 2.2) Materials, energy, third-party services, and others 2.3) Loss / Recovery of asset values 2.4) Others (specify)

3 – GROSS ADDED VALUE (1-2)

4 – DEPRECIATION, AMORTIZATION, AND DEPLETION

5 – NET ADDED VALUE PRODUCED BY THE ENTITY (3-4)

6 – ADDED VALUE RECEIVED IN TRANSFER
6.1) Equity method results
6.2) Financial revenues
6.3) Others

7 – TOTAL ADDED VALUE TO DISTRIBUTE (5+6)

8 – DISTRIBUTION OF ADDED VALUE (*)
8.1) Personnel
8.1.1 – Direct remuneration
8.1.2 – Benefits
8.1.3 – F.G.T.S
8.2) Taxes, fees, and contributions
8.2.1 – Federal
8.2.2 – State
8.2.3 – Municipal
8.3) Remuneration of third-party capital
8.3.1 – Interest
8.3.2 – Rents
8.3.3 – Others
8.4) Remuneration of Own Capital
8.4.1 – Interest on Own Capital
8.4.2 – Dividends
8.4.3 – Retained profits / Loss of the fiscal year
8.4.4 – Non-controlling interests' participation in retained profits (only for consolidation)

(*) The total of item 8 must be exactly equal to item 7.

Model II - Statement of Added Value - Banking Financial Institutions

DESCRIPTION
In thousands of reais
20X1
In thousands of reais
20X0

1 – REVENUES
1.1) Financial Intermediation
1.2) Service Provision
1.3) Provision for doubtful collection credits – Reversal / (Constitution) 1.4) Others

2 – FINANCIAL INTERMEDIATION EXPENSES

3 – INPUTS ACQUIRED FROM THIRD PARTIES
3.1) Materials, energy, and others
3.2) Third-party services
3.3) Loss / Recovery of asset values
3.4) Others (specify)

4 – GROSS ADDED VALUE (1-2-3)

5 – DEPRECIATION, AMORTIZATION, AND DEPLETION

6 – NET ADDED VALUE PRODUCED BY THE ENTITY (4-5)

7 – ADDED VALUE RECEIVED IN TRANSFER
7.1) Equity method results
7.2) Others

8 – TOTAL ADDED VALUE TO DISTRIBUTE (6+7)

9 – DISTRIBUTION OF ADDED VALUE *
9.1) Personnel
9.1.1 – Direct remuneration

9.1.2 – Benefits
9.1.3 – F.G.T.S
9.2) Taxes, fees, and contributions
9.2.1 – Federal
9.2.2 – State
9.2.3 – Municipal
9.3) Remuneration of third-party capital
9.3.1 – Rents
9.3.2 – Others
9.4) Remuneration of Own Capital
9.4.1 – Interest on Own Capital
9.4.2 – Dividends
9.4.3 – Retained profits / Loss of the fiscal year
9.4.4 – Non-controlling interests' participation in retained profits (only for consolidation)

The total of item 9 must be exactly equal to item 8.

Model III - Statement of Added Value – INSURERS (model suggested by the Superintendence of Private Insurance - Susep)

DESCRIPTION
In thousands of reais
20X1
In thousands of reais
20X0

1 – REVENUES
1.1) Revenues from insurance operations
1.2) Revenues from complementary pension operations 1.3) Revenues from management fees and other fees 1.4) Others 1.5) Provision for doubtful collection credits – Reversal / (Constitution)

2 – VARIATION OF TECHNICAL PROVISIONS
2.1) Insurance operations
2.2) Pension operations

3 – NET OPERATING REVENUE (1+2)

4 – BENEFITS AND CLAIMS
4.1) Claims
4.2) Variation of the provision for claims occurred but not reported 4.3) Expenses with benefits and surrenders 4.4) Variation of the provision for events occurred but not reported 4.5) Others

5 – INPUTS ACQUIRED FROM THIRD PARTIES
5.1) Materials, energy, and others
5.2) Third-party services, net commissions
5.3) Variation of deferred marketing expenses

5.4) Loss / Recovery of asset values

6 – GROSS ADDED VALUE (3-4-5)

7 – DEPRECIATION, AMORTIZATION, AND DEPLETION

8 – NET ADDED VALUE PRODUCED BY THE ENTITY (6-7)

9 – ADDED VALUE RECEIVED/CED IN TRANSFER
9.1) Financial revenues
9.2) Equity method results
9.3) Result with ceded reinsurance operations
9.4) Result with ceded co-insurance operations 9.5) Others

10 – TOTAL ADDED VALUE TO DISTRIBUTE (8+9)

11 – DISTRIBUTION OF ADDED VALUE *
11.1) Personnel
11.1.1 – Direct remuneration
11.1.2 – Benefits
11.1.3 – F.G.T.S
11.2) Taxes, fees, and contributions
11.2.1 – Federal
11.2.2 – State
11.2.3 – Municipal
11.3) Remuneration of third-party capital
11.3.1 – Interest
11.3.2 – Rents
11.3.3 – Others
11.4) Remuneration of Own Capital

11.4.1 – Interest on Own Capital
11.4.2 – Dividends
11.4.3 – Retained profits / Loss of the fiscal year
11.4.4 – Non-controlling interests' participation in retained profits (only for consolidation)

The total of item 11 must be exactly equal to item 10.

CVM Resolution 117 (Repealed) - Approval of Consolidated Technical Pronouncement CPC 09 on the Statement of Added Value

Lineage: Superseded

Timeline