JBS S.A.

CIK:0001450123|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Profit or Loss [Abstract]
NET REVENUE	$ 77,182,547	$ 72,918,123	$ 72,613,910
Cost of sales	(65,594,321)	(64,950,972)	(61,070,237)
GROSS PROFIT	11,588,226	7,967,151	11,543,673
Selling expenses	(4,827,284)	(4,594,334)	(4,681,689)
General and administrative expenses	(2,278,392)	(2,315,074)	(2,290,031)
Other income	84,525	148,625	311,057
Other expenses	(189,254)	(122,228)	(99,619)
NET OPERATING EXPENSES	(7,210,405)	(6,883,011)	(6,760,282)
OPERATING PROFIT	4,377,821	1,084,140	4,783,391
Finance income	719,370	584,216	808,612
Finance expense	(2,389,133)	(1,937,621)	(2,050,310)
NET FINANCE EXPENSE	(1,669,763)	(1,353,405)	(1,241,698)
Share of profit of equity-accounted investees, net of tax	2,945	9,537	11,800
PROFIT (LOSS) BEFORE TAXES	2,711,003	(259,728)	3,553,493
Current income taxes	(870,474)	(69,460)	(515,264)
Deferred income taxes	127,081	197,453	105,308
TOTAL INCOME TAXES	(743,393)	127,993	(409,956)
NET INCOME (LOSS)	1,967,610	(131,735)	3,143,537
ATTRIBUTABLE TO:
Company shareholders	1,766,870	(198,869)	2,997,488
Non-controlling interest	200,740	67,134	146,049
NET INCOME (LOSS)	$ 1,967,610	$ (131,735)	$ 3,143,537
Basic earnings (loss) per share - common shares (in Dollars per share)	$ 0.8	$ (0.09)	$ 1.34
Diluted earnings (loss) per share – common shares (in Dollars per share)	$ 0.8	$ (0.09)	$ 1.34

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net income (loss)	$ 1,967,610	$ (131,735)	$ 3,143,537
Adjustments for:
Depreciation and amortization	2,189,547	2,149,066	1,907,921
Expected credit losses	12,856	9,906	9,230
Share of profit of equity-accounted investees	(2,945)	(9,537)	(11,800)
Gain on sales of assets	(8,856)	(14,033)	(18,816)
Tax expense	743,393	(127,993)	409,956
Net finance expense	1,669,764	1,353,405	1,241,698
Share-based compensation	15,794	6,913	7,615
Provisions for legal proceedings	47,229	106,117	43,773
Impairment of goodwill and property, plant and equipment	28,264	30,250	19,846
Net realizable value inventory adjustments	13,957	(6,100)	13,164
DOJ (Department of Justice) and antitrust agreements	253,731	102,500	101,447
Fair value adjustment of biological assets	(158,600)	85,015	(36,107)
Leniency agreement			(103,346)
Gain from bargain purchase			(46,897)
Extemporaneous Litigation	61,016
Extemporaneous Reversal of Tax Credits	58,654
Total Adjustments	6,891,414	3,553,774	6,681,221
Changes in assets and liabilities:
Trade accounts receivable	(333,628)	624,752	(269,553)
Inventories	(377,443)	480,524	(458,223)
Recoverable taxes	45,351	137,678	(708,996)
Other current and non-current assets	(7,606)	(40,938)	151,246
Biological assets	(520,541)	(529,365)	(864,782)
Trade accounts payable and supply chain finance	344,542	(787,017)	253,184
Taxes paid in installments	(60,993)	(48,091)	(78,029)
Other current and non-current liabilities	62,362	249,454	(124,872)
DOJ and Antitrust agreements payment	(170,573)	(90,300)	(167,046)
Income taxes paid	(348,666)	(70,918)	(1,039,421)
Changes in operating assets and liabilities	(1,367,195)	(74,221)	(3,306,492)
Cash provided by operating activities	5,524,219	3,479,553	3,374,729
Interest paid	(1,486,820)	(1,288,172)	(930,882)
Interest received	192,150	187,393	136,697
Net cash flows provided by operating activities	4,229,549	2,378,774	2,580,544
Cash flows from investing activities
Purchases of property, plant and equipment	(1,480,298)	(1,502,137)	(2,172,596)
Purchases of intangible assets	(10,585)	(8,983)	(8,386)
Proceeds from sale of property, plant and equipment	47,216	71,980	48,765
Additional investments in equity-accounted investees			(2,066)
Acquisitions, net of cash acquired	(5,829)	(3,529)	(378,853)
Dividends received	10,672	12,593	2,669
Related party transactions	21,171	1,039	760
Others		20,625	(25,857)
Cash used in investing activities	(1,417,653)	(1,408,412)	(2,535,564)
Cash flows from financing activities
Proceeds from loans and financing	2,976,300	9,035,710	8,011,638
Payments of loans and financing	(2,990,311)	(7,091,698)	(7,473,186)
Derivative instruments received (settled)	(231,969)	(12,745)	(261,739)
Margin cash	20,099	(26,602)	109,732
Dividends paid	(759,301)	(447,979)	(872,802)
Dividends paid to non-controlling interest	(4,296)	(5,859)	(5,002)
Purchase of Diamond Pork treasury shares	(7,614)		(189,744)
Purchase of treasury shares			(719,393)
Sales of treasury shares			167,505
Payments of leasing contracts	(417,752)	(428,745)	(434,488)
Cash provided (used in) by financing activities	(1,414,844)	1,022,082	(1,667,479)
Effect of exchange rate changes on cash and cash equivalents	(352,896)	50,642	(15,419)
Net change in cash and cash equivalents	1,044,155	2,043,086	(1,637,918)
Cash and cash equivalents beginning of period	4,569,517	2,526,431	4,164,349
Cash and cash equivalents at the end of period	5,613,672	4,569,517	2,526,431
Non-cash additions to right of use assets and lease liabilities	504,963	483,698	483,201
Capitalized interest	31,695	68,164	(70,788)
Dividends Prescribed and payable	5	696
Interim dividends	379,637
Non-Cash additions to PP&E	12,529
Cancellation of treasury shares			$ (1,121,507)

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 5,613,672	$ 4,569,517
Margin cash	136,554	132,461
Trade accounts receivable	3,735,540	3,390,856
Inventories	5,015,989	5,101,230
Biological assets	1,608,223	1,712,153
Recoverable taxes	637,728	919,120
Derivative assets	84,468	87,795
Other current assets	288,842	323,194
TOTAL CURRENT ASSETS	17,121,016	16,236,326
NON-CURRENT ASSETS
Recoverable taxes	1,412,455	1,744,275
Biological assets	518,234	531,477
Related party receivables	77,355	118,554
Deferred income taxes	651,178	774,861
Derivative assets		81,940
Other non-current assets	268,737	319,226
TOTAL OTHER NON-CURRENT ASSETS	2,927,959	3,570,333
Investments in equity-accounted investees	38,312	56,601
Property, plant and equipment	11,780,880	12,918,249
Right of use assets	1,596,873	1,705,710
Intangible assets	1,803,199	1,985,595
Goodwill	5,417,134	6,105,020
TOTAL NON-CURRENT ASSETS	23,564,357	26,341,508
TOTAL ASSETS	40,685,373	42,577,834
CURRENT LIABILITIES
Trade accounts payable	5,465,513	5,257,053
Supply chain finance	728,710	948,066
Loans and financing	2,084,225	891,570
Income taxes	233,027	83,247
Other taxes payable	113,734	144,002
Payroll and social charges	1,435,751	1,297,181
Lease liabilities	335,681	352,627
Dividends payable	358,621	400
Provisions for legal proceedings	280,804	197,440
Derivative liabilities	165,979	144,251
Other current liabilities	455,020	581,123
TOTAL CURRENT LIABILITIES	11,657,065	9,896,960
NON-CURRENT LIABILITIES
Loans and financings	17,242,571	19,107,567
Income and other taxes payable	406,655	94,368
Payroll and social charges	352,718	490,503
Lease liabilities	1,398,348	1,488,600
Deferred income taxes	1,095,291	1,360,257
Provisions for legal proceedings	216,659	315,953
Derivative liabilities	100,087
Other non-current liabilities	81,615	115,840
TOTAL NON-CURRENT LIABILITIES	20,893,944	22,973,088
EQUITY
Share capital - common shares	13,177,841	13,177,841
Capital reserve	(180,586)	(186,009)
Other reserves	(37,470)	(36,413)
Profit reserves	4,211,944	3,623,632
Accumulated other comprehensive loss	(10,077,264)	(7,554,007)
Attributable to company shareholders	7,094,465	9,025,044
Attributable to non-controlling interest	1,039,899	682,742
TOTAL EQUITY	8,134,364	9,707,786
TOTAL LIABILITIES AND EQUITY	$ 40,685,373	$ 42,577,834