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Share Name | Share Symbol | Market | Type |
---|---|---|---|
PagSeguro Digital Ltd | NYSE:PAGS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.43 | 3.45% | 12.91 | 12.55 | 12.24 | 12.54 | 3,012,452 | 01:00:00 |
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Unaudited condensed consolidated interim financial statements | |||||
|
|
Note | September 30, 2021 | December 31, 2020 | |||||||||||||||
Assets | |||||||||||||||||
Current assets | |||||||||||||||||
Cash and cash equivalents | 5 | 1,122,388 | 1,640,065 | ||||||||||||||
Financial investments | 6 | 1,000,877 | 979,837 | ||||||||||||||
Accounts receivable | 7 | 20,122,692 | 16,042,970 | ||||||||||||||
Inventories | 86,214 | 30,429 | |||||||||||||||
Tax receivable | 8 | 545,682 | 388,975 | ||||||||||||||
Other receivables | 129,605 | 164,805 | |||||||||||||||
Total current assets | 23,007,458 | 19,247,081 | |||||||||||||||
Non-current assets | |||||||||||||||||
Accounts receivable | 7 | 179,855 | 33,570 | ||||||||||||||
Judicial deposits | 38,413 | 7,449 | |||||||||||||||
Deferred income tax and social contribution | 18 | 88,749 | 83,296 | ||||||||||||||
Other receivables
|
14,094 | 10,293 | |||||||||||||||
Investment | 15,956 | 16,400 | |||||||||||||||
Property and equipment | 11 | 2,148,295 | 1,802,613 | ||||||||||||||
Intangible assets | 12 | 1,467,279 | 1,123,620 | ||||||||||||||
Total non-current assets | 3,952,641 | 3,077,241 | |||||||||||||||
Total assets | 26,960,099 | 22,324,322 |
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Note | September 30, 2021 | December 31, 2020 | |||||||||||||||
Liabilities and equity | |||||||||||||||||
Current Liabilities | |||||||||||||||||
Payables to third parties | 13 | 11,068,114 | 10,101,510 | ||||||||||||||
Trade payables | 377,589 | 335,539 | |||||||||||||||
Payables to related parties | 9 | 369,501 | 58,336 | ||||||||||||||
Deposits | 14 | 2,458,376 | 571,996 | ||||||||||||||
Salaries and social security charges | 15 | 247,283 | 175,198 | ||||||||||||||
Taxes and contributions | 16 | 38,231 | 26,042 | ||||||||||||||
Provision for contingencies | 17 | 24,407 | 17,063 | ||||||||||||||
Deferred revenue | 180,984 | 186,219 | |||||||||||||||
Other liabilities | 56,111 | 102,572 | |||||||||||||||
Total current liabilities | 14,820,596 | 11,574,475 | |||||||||||||||
Non-current liabilities | |||||||||||||||||
Deferred income tax and social contribution | 18 | 1,350,460 | 1,132,595 | ||||||||||||||
Deposits | 14 | 211,769 | 194,090 | ||||||||||||||
Provision for contingencies | 17 | 12,807 | 11,741 | ||||||||||||||
Deferred revenue | 21,876 | 27,336 | |||||||||||||||
Other liabilities | 85,798 | 56,626 | |||||||||||||||
Total non-current liabilities | 1,682,710 | 1,422,388 | |||||||||||||||
Total liabilities | 16,503,306 | 12,996,863 | |||||||||||||||
Equity | |||||||||||||||||
Share capital | 19 | 26 | 26 | ||||||||||||||
Treasury shares | 19 | (199) | (13,609) | ||||||||||||||
Capital reserve | 19 | 6,035,110 | 5,784,288 | ||||||||||||||
Retained earnings | 19 | 4,431,228 | 3,566,522 | ||||||||||||||
Equity valuation adjustments | 19 | (22,372) | (22,372) | ||||||||||||||
Other comprehensive income | 19 | 577 | 491 | ||||||||||||||
10,444,370 | 9,315,346 | ||||||||||||||||
Non-controlling interests | 12,423 | 12,113 | |||||||||||||||
Total equity | 10,456,793 | 9,327,459 | |||||||||||||||
Total liabilities and equity | 26,960,099 | 22,324,322 |
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Three-month period | Nine-month period | ||||||||||||||||||||||||||||
Note | September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||||||||
Revenue from transaction activities and other services | 21 | 1,792,161 | 1,211,971 | 4,725,259 | 3,035,237 | ||||||||||||||||||||||||
Financial income | 21 | 937,743 | 544,755 | 2,381,336 | 1,566,270 | ||||||||||||||||||||||||
Other financial income | 21 | 45,861 | 24,747 | 105,969 | 124,705 | ||||||||||||||||||||||||
Total revenue and income | 2,775,765 | 1,781,473 | 7,212,564 | 4,726,212 | |||||||||||||||||||||||||
Cost of sales and services | 22 | (1,502,018) | (1,057,233) | (3,943,121) | (2,619,159) | ||||||||||||||||||||||||
Selling expenses | 22 | (367,893) | (151,626) | (1,099,775) | (451,850) | ||||||||||||||||||||||||
Administrative expenses | 22 | (273,029) | (197,109) | (687,998) | (377,145) | ||||||||||||||||||||||||
Financial expenses | 22 | (209,823) | (16,255) | (387,995) | (79,690) | ||||||||||||||||||||||||
Other income (expenses), net | 22 | (1,821) | (7,060) | 26,034 | 62,413 | ||||||||||||||||||||||||
Profit before income taxes | 421,181 | 352,190 | 1,119,709 | 1,260,781 | |||||||||||||||||||||||||
Current income tax and social contribution | 18 | (7,652) | (13,349) | (29,290) | (35,117) | ||||||||||||||||||||||||
Deferred income tax and social contribution | 18 | (91,983) | (75,412) | (225,403) | (309,007) | ||||||||||||||||||||||||
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Income tax and social contribution | (99,635) | (88,761) | (254,693) | (344,124) | |||||||||||||||||||||||||
Net income for the period | 321,546 | 263,429 | 865,016 | 916,657 | |||||||||||||||||||||||||
Attributable to: | |||||||||||||||||||||||||||||
Equity holders of the parent
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321,393 | 263,304 | 864,706 | 916,110 | |||||||||||||||||||||||||
Non-controlling interests
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153 | 125 | 310 | 547 | |||||||||||||||||||||||||
Basic earnings per common share - R$ | 20 | 0.9727 | 0.8001 | 2.6188 | 2.7838 | ||||||||||||||||||||||||
Diluted earnings per common share - R$ | 20 | 0.9669 | 0.7988 | 2.6019 | 2.7791 |
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Three-month period | Nine-month period | ||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | ||||||||||||||||||||
Net income for the period | 321,546 | 263,429 | 865,016 | 916,657 | |||||||||||||||||||
Other comprehensive income that may be reclassified to the
statement of income in subsequent periods |
|||||||||||||||||||||||
Currency translation adjustment | 220 | 660 | (284) | 1,211 | |||||||||||||||||||
Gain (loss) on investments designated at fair value through OCI | 221 | (1,093) | 561 | (1,282) | |||||||||||||||||||
Income tax and social contribution on the gain (loss) - OCI | (75) | 372 | (191) | 436 | |||||||||||||||||||
Other comprehensive income for the period | 321,912 | 263,368 | 865,102 | 917,022 | |||||||||||||||||||
Attributable to | |||||||||||||||||||||||
Equity holders of the parent | 321,759 | 263,243 | 864,792 | 916,475 | |||||||||||||||||||
Non-controlling interests | 153 | 125 | 310 | 547 | |||||||||||||||||||
Net income for the period | 321,912 | 263,368 | 865,102 | 917,022 |
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Capital reserve
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Profit reserve | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note | Share capital | Treasury shares | Capital reserve | Share-based long-term incentive plan (LTIP) |
Retained earnings
|
Equity valuation adjustments | Other comprehensive income | Total | Non-controlling interests | Total equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
On December 31, 2019 | 26 | (41,267) | 5,686,255 | 95,248 | 2,274,864 | (22,372) | (190) | 7,992,564 | 22,384 | 8,014,948 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income for the period | — | — | — | — | 916,110 | — | — | 916,110 | 547 | 916,657 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Currency translation adjustment
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— | — | — | — | — | — | 1,211 | 1,211 | — | 1,211 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on financial assets through OCI | — | — | — | — | — | — | (846) | (846) | — | (846) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-controlling | — | — | — | — | — | — | — | — | (267) | (267) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued | — | — | 3,834 | (3,834) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share based long term incentive plan (LTIP) | — | — | — | 62,140 | — | — | — | 62,140 | — | 62,140 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition of treasury shares | — | (44,774) | — | — | — | — | — | (44,774) | — | (44,774) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
(LTIP) of treasury shares | — | 70,443 | — | (70,443) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
On September 30, 2020 | 26 | (15,598) | 5,690,089 | 83,111 | 3,190,974 | (22,372) | 175 | 8,926,405 | 22,664 | 8,949,069 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income for the period | — | — | — | — | 375,548 | — | — | 375,548 | 95 | 375,643 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Currency translation adjustment
|
— | — | — | — | — | — | (252) | (252) | — | (252) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on financial assets through OCI | — | — | — | — | — | — | 568 | 568 | — | 568 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-controlling | — | — | — | — | — | — | — | — | (10,646) | (10,646) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share based long term incentive plan (LTIP) | — | — | — | 13,077 | — | — | — | 13,077 | — | 13,077 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
(LTIP) of treasury shares | — | 1,989 | — | (1,989) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
On December 31, 2020 | 26 | (13,609) | 5,690,089 | 94,199 | 3,566,522 | (22,372) | 491 | 9,315,346 | 12,113 | 9,327,459 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income for the period | 19 | — | — | — | — | 864,706 | — | — | 864,706 | 310 | 865,016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Currency translation adjustment
|
19 | — | — | — | — | — | — | (284) | (284) | — | (284) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on financial assets through OCI | 19 | — | — | — | — | — | — | 370 | 370 | — | 370 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued | 19 | — | — | 138,665 | (138,665) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share based long term incentive plan (LTIP) | 19 | — | — | — | 264,232 | — | — | — | 264,232 | — | 264,232 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(LTIP) of treasury shares | 19 | — | 13,410 | — | (13,410) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
On September 30, 2021 | 26 | (199) | 5,828,754 | 206,356 | 4,431,228 | (22,372) | 577 | 10,444,370 | 12,423 | 10,456,793 |
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Nine-month period | |||||||||||
September 30, 2021 | September 30, 2020 | ||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||
Profit before income taxes | 1,119,709 | 1,260,781 | |||||||||
Expenses (revenues) not affecting cash:
|
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Depreciation and amortization
|
543,126 | 242,513 | |||||||||
Chargebacks
|
450,051 | 212,969 | |||||||||
Accrual of provision for contingencies
|
19,911 | 1,971 | |||||||||
Share based long term incentive plan (LTIP)
|
326,282 | 47,499 | |||||||||
Reversal of taxes and contributions
|
(29,114) | (84,294) | |||||||||
Loss on disposal of property, equipment and intangible assets
|
20,444 | 3,641 | |||||||||
Interest accrued
|
84,400 | 4,713 | |||||||||
Other (income) cost, net
|
1,480 | 20,394 | |||||||||
Changes in operating assets and liabilities
|
|||||||||||
Accounts receivable
|
(5,194,108) | (3,446,658) | |||||||||
Financial investments (mandatory guarantee)
|
2,069 | (127,832) | |||||||||
Inventories
|
(64,403) | 27,046 | |||||||||
Taxes recoverable
|
(97,710) | (103,693) | |||||||||
Other receivables
|
2,512 | 16,785 | |||||||||
Deferred revenue
|
(10,695) | 122,851 | |||||||||
Other liabilities
|
(13,821) | (242) | |||||||||
Payables to third parties
|
883,004 | 2,307,597 | |||||||||
Trade payables
|
42,466 | (44,914) | |||||||||
Receivables from (payables to) related parties
|
311,165 | 107,376 | |||||||||
Deposits
|
1,854,936 | 193,642 | |||||||||
Salaries and social charges
|
9,460 | 14,038 | |||||||||
Taxes and contributions
|
31,358 | (26,143) | |||||||||
Provision for contingencies
|
(12,994) | (1,100) | |||||||||
279,528 | 748,940 | ||||||||||
Income tax and social contribution paid
|
(57,412) | (26,053) | |||||||||
Interest income received
|
541,881 | 175,500 | |||||||||
NET CASH PROVIDED BY OPERATING ACTIVITIES | 763,997 | 898,387 | |||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||
Amount paid on acquisitions, net of cash acquired
|
(44,471) | (5,351) | |||||||||
Purchases of property and equipment
|
(701,338) | (917,255) | |||||||||
Purchases and development of intangible assets
|
(527,555) | (373,605) | |||||||||
Redemption (Acquisition) of financial investments
|
2,293 | 636,432 | |||||||||
NET CASH USED IN INVESTING ACTIVITIES | (1,271,071) | (659,779) | |||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||
Acquisition of treasury shares
|
— | (44,774) | |||||||||
Payment of leases
|
(10,603) | (2,640) | |||||||||
NET CASH USED IN FINANCING ACTIVITIES | (10,603) | (47,414) | |||||||||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (517,677) | 191,193 | |||||||||
Cash and cash equivalents at the beginning of the period
|
1,640,065 | 1,403,955 | |||||||||
Cash and cash equivalents at the end of the period
|
1,122,388 | 1,595,148 |
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PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
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1. General information
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PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
1. General information (continued)
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PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
2. Presentation and preparation of the unaudited condensed consolidated interim financial statements and significant accounting policies
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PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
3. Consolidation of subsidiaries
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September 30, 2021 | ||||||||||||||||||||||||||||||||||||||
Company | Assets | Liabilities | Equity | Net income (loss) for the period | Ownership – % | Level | ||||||||||||||||||||||||||||||||
Pagseguro Brazil | 22,360,160 | 13,721,024 | 8,639,136 | 773,576 | 99.99 | Direct | ||||||||||||||||||||||||||||||||
BS Holding | 473,979 | — | 473,979 | 19,313 | 99.99 | Direct | ||||||||||||||||||||||||||||||||
Pagseg Participações | 768,350 | 870 | 767,480 | 73,792 | 99.99 | Direct | ||||||||||||||||||||||||||||||||
Pagseguro Holding | 36 | — | 36 | — | 99.99 | Direct | ||||||||||||||||||||||||||||||||
Pagbank Participações | 172,115 | 2,095 | 170,020 | (2,270) | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
Net+Phone | 382,654 | 31,442 | 351,212 | 43,483 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
Boa Compra | 333,417 | 160,312 | 173,105 | 10,494 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
BCPS | 1,766 | (105) | 1,871 | 222 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
R2TECH | 33,987 | 1,896 | 32,091 | 13,659 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
BSEC | 1,172,569 | 1,168,474 | 4,095 | 3,727 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
BIVA | 34,314 | 2,453 | 31,861 | 11,664 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
FIDC | 4,792,964 | 986,688 | 3,806,276 | 1,728,015 | 100.00 | Indirect | ||||||||||||||||||||||||||||||||
TILIX | 13,746 | 1,353 | 12,393 | 5,011 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
BancoSeguro | 7,834,444 | 7,375,922 | 458,522 | 19,326 | 100.00 | Indirect | ||||||||||||||||||||||||||||||||
Yamí | 1,566 | 563 | 1,003 | 44 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
Registra Seguro | 5,000 | 7 | 4,993 | (7) | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
CDS | 6,286 | 6,498 | (212) | (2,842) | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
Zygo | 3,749 | 3,515 | 234 | (7,099) | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
Moip | 752,253 | 568,102 | 184,151 | 2,999 | 100.00 | Indirect | ||||||||||||||||||||||||||||||||
Concil | 3,192 | 5,476 | (2,284) | (424) | 100.00 | Indirect | ||||||||||||||||||||||||||||||||
Pagseguro Chile | 7 | — | 7 | — | 100.00 | Indirect | ||||||||||||||||||||||||||||||||
Pagseguro Colombia | 28 | — | 28 | — | 100.00 | Indirect | ||||||||||||||||||||||||||||||||
PSGP México | 1 | — | 1 | — | 100.00 | Indirect |
December 31, 2020 (except for net income, that is presented to nine months period ended September 30, 2020) | ||||||||||||||||||||||||||||||||||||||
Company | Assets | Liabilities | Equity | Net income (loss) for the period | Ownership – % | Level | ||||||||||||||||||||||||||||||||
Pagseguro Brazil | 20,089,735 | 11,716,120 | 8,373,615 | 873,759 | 99.99 | Direct | ||||||||||||||||||||||||||||||||
BS Holding | 488,173 | — | 488,173 | 40,378 | 99.99 | Direct | ||||||||||||||||||||||||||||||||
Pagseg Participações | 2 | — | 2 | — | 99.99 | Direct | ||||||||||||||||||||||||||||||||
Pagbank Participações | 15,001 | 15,000 | 1 | — | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
Net+Phone | 340,829 | 33,100 | 307,729 | (99,430) | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
Boa Compra | 431,624 | 268,731 | 162,893 | 26,223 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
BCPS | 2,410 | 477 | 1,933 | 410 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
R2TECH | 12,511 | 1,639 | 10,872 | 5,802 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
BSEC | 488,988 | 488,616 | 372 | — | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
BIVA | 18,532 | 660 | 17,872 | (1,156) | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
FIDC | 3,422,207 | 327,070 | 3,095,137 | 1,364,473 | 100.00 | Indirect | ||||||||||||||||||||||||||||||||
TILIX | 8,361 | 979 | 7,382 | (1,591) | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
BancoSeguro | 5,364,406 | 4,891,653 | 472,753 | 41,838 | 100.00 | Indirect | ||||||||||||||||||||||||||||||||
Yamí | 1,453 | 489 | 964 | 143 | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
Registra Seguro | 5,000 | — | 5,000 | — | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
CDS | 4,724 | 1,073 | 3,651 | (546) | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
Zygo | 2,310 | 2,078 | 232 | (377) | 99.99 | Indirect | ||||||||||||||||||||||||||||||||
MOIP | 741,689 | 560,536 | 181,153 | — | 100.00 | Indirect |
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PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
4. Segment reporting
|
5. Cash and cash equivalents
|
September 30, 2021 | December 31, 2020 | ||||||||||
Short-term bank deposits | 127,863 | 415,387 | |||||||||
Short-term investments | 994,525 | 1,224,678 | |||||||||
1,122,388 | 1,640,065 |
6. Financial investments
|
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PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
7. Accounts receivable |
September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Visa | Master | Hipercard | Elo | Amex | Total | Visa | Master | Hipercard | Elo | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal obligors | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Itaú | 784,859 | 2,397,900 | 722,236 | 21,080 | — | 3,926,075 | 774,445 | 2,100,129 | 627,463 | — | 3,502,037 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Santander | 393,950 | 1,930,239 | — | — | — | 2,324,189 | 448,592 | 2,043,676 | — | — | 2,492,268 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bradesco | 1,145,205 | 195,956 | — | 658,786 | 178,234 | 2,178,181 | 1,759,911 | 294,631 | — | 409,384 | 2,463,926 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nubank | — | 1,852,026 | — | — | — | 1,852,026 | — | 1,421,074 | — | — | 1,421,074 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Banco do Brasil | 822,240 | 290,924 | — | 394,931 | — | 1,508,095 | 988,772 | 251,808 | — | 250,849 | 1,491,429 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Banco Carrefour | 114,900 | 668,274 | — | — | — | 783,174 | 107,927 | 543,513 | — | — | 651,440 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Porto Seguro | 506,546 | 115,694 | — | — | — | 622,240 | 407,688 | 87,882 | — | — | 495,570 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CEF | 123,976 | 188,473 | — | 227,492 | — | 539,941 | 158,879 | 238,196 | — | 223,354 | 620,429 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Banco Bradescard | 288,760 | 77,658 | — | — | — | 366,418 | — | — | — | 2,874 | 2,874 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Banco C6 | — | 331,041 | — | — | — | 331,041 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Banco Inter | — | 312,678 | — | — | — | 312,678 | — | 685 | — | — | 685 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Banco Cooperativo Sicoob | — | 303,756 | — | — | — | 303,756 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other (iv) | 1,534,209 | 1,950,775 | — | 177,518 | 178 | 3,662,680 | 702,021 | 1,212,651 | — | 95,200 | 2,009,872 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total card issuers(i) | 5,714,645 | 10,615,394 | 722,236 | 1,479,807 | 178,412 | 18,710,494 | 5,348,235 | 8,194,245 | 627,463 | 981,661 | 15,151,603 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cielo - Elo | — | — | — | — | — | 109,355 | — | — | — | — | 209,318 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Getnet | — | — | — | — | — | 98,836 | — | — | — | — | 56,799 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | 11,713 | — | — | — | — | 29,030 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total acquirers (ii) | — | — | — | — | — | 219,904 | — | — | — | — | 295,147 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other current | — | — | — | — | — | 1,192,294 | — | — | — | — | 596,220 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other non-current | — | — | — | — | — | 179,855 | — | — | — | — | 33,570 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
— | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total(iii) | — | — | — | — | — | 1,372,149 | — | — | — | — | 629,790 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total accounts receivable | 5,714,645 | 10,615,394 | 722,236 | 1,479,807 | 178,412 | 20,302,547 | 5,348,235 | 8,194,244 | 627,463 | 981,661 | 16,076,540 |
(i) |
Card issuers: receivables derived from transactions where PagSeguro Brazil acts as the financial intermediary in operations with the issuing banks, related to the intermediation agreements between PagSeguro Brazil and Visa, Mastercard, Hipercard, Amex or Elo. However, PagSeguro Brazil’s contractual accounts receivable are with the financial institutions, which are the legal obligors on the accounts receivable payment. Additionally, amounts due within 27 days of the original transaction, including those that fall due with the first installment of installment receivables, are guaranteed by Visa, Mastercard, Hipercard, Amex or Elo, as applicable, if the legal obligors do not make the payment.
|
|||||||
(ii) |
Acquirers: refers to card processing transactions to be received from the acquirers, which are a third parties acting as financial intermediaries between the issuing bank and PagSeguro Brazil.
|
|||||||
(iii) | Other accounts receivable are mainly related to loans and credit card receivables with our customers. This amount is presented net of the ECL (“expected credit losses”), which is measured according to the IFRS 9. The provision rates are based on the internal credit rating that considers external information and are based on days past due. Every report date, PagSeguro reassesses the premises to adjust the historical credit loss experience with prospective information. | |||||||
(iv) | Refers to other dispersed receivables from legal obligors. |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
7. Accounts receivable (continued)
|
September 30, 2021 | December 31, 2020 | |||||||||||||
Due within 30 days | 3,914,184 | 6,951,315 | ||||||||||||
Due within 31 to 120 days | 10,114,713 | 6,129,039 | ||||||||||||
Due within 121 to 180 days | 2,948,870 | 1,509,449 | ||||||||||||
Due within 181 to 360 days | 3,037,850 | 1,453,167 | ||||||||||||
Due after 360 days | 286,930 | 33,570 | ||||||||||||
20,302,547 | 16,076,540 |
8. Tax receivable
|
September 30, 2021 | December 31, 2020 | |||||||||||||
Income tax and social contribution (i) | 335,370 | 223,057 | ||||||||||||
Social integration program (ii) | 184,832 | 151,165 | ||||||||||||
Value-added tax on sales and services (iii) | 22,637 | 14,646 | ||||||||||||
Other | 2,843 | 107 | ||||||||||||
545,682 | 388,975 |
(i) |
Refers to the income tax and social contribution. The increase is mainly related to FIDC quotas redeemed on June 28, 2021, amounted to R$1,016,865, representing withholding taxes of R$147,365.
|
|||||||
(ii) |
Refers to Social Integration Program (PIS) and Social Contribution on Revenues (COFINS) recoverable on transaction activities and other services and purchase of POS devices.
|
|||||||
(iii) |
Refers to the Value-added Tax on Sales and Services (ICMS) due to purchases of POS devices.
|
9. Related-party balances and transactions
|
September 30, 2021 | December 31, 2020 | ||||||||||
Payables | Payables | ||||||||||
Immediate parent | |||||||||||
UOL - sales of services (a)
|
17,175 | 15,720 | |||||||||
UOL - shared service costs (b)
|
25,546 | 12,539 | |||||||||
UOL – Deposits (c)
|
82,290 | 11,391 | |||||||||
Affiliated companies | |||||||||||
UOL Edtech Tecnologia - Deposits (c)
|
220,268 | — | |||||||||
Compasso Informática S.A. (d)
|
13,568
|
— | |||||||||
Transfolha Transportadora e Distribuição Ltda.
|
781
|
1,933 | |||||||||
UOL Diveo - sales of services (d)
|
92 | 10,218 | |||||||||
Others
|
9,781 | 6,535 | |||||||||
369,501 | 58,336 |
(a) |
Sales of services refers mainly to the purchase of advertising services from UOL.
|
|||||||
(b) |
Shared services costs mainly related to payroll costs that are incurred by the parent company UOL and are charged to PagSeguro Group.
|
|||||||
(c) |
Certificate of deposits (CD) acquired by UOL and UOL Edtech from BancoSeguro, with due date of less than a year.
|
|||||||
(d) |
This payable refers mainly to colocation and cloud services. In 2020, these services were provided by UOL Diveo and in 2021 these services are provided by Compasso Informática S.A.
|
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
Three-month period | Nine-month period | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
Revenue | Expense | Revenue | Expense | Revenue | Expense | Revenue | Expense | ||||||||||||||||||||||||||||||||||||||||
Immediate parent | |||||||||||||||||||||||||||||||||||||||||||||||
UOL - shared service costs (a)
|
— | 105,906 | — | 79,535 | — | 109,409 | — | 112,104 | |||||||||||||||||||||||||||||||||||||||
UOL - sales of services (b)
|
1,614 | 26,153 | 777 | 19,171 | 2,424 | 69,915 | 2,097 | 62,570 | |||||||||||||||||||||||||||||||||||||||
UOL - deposits (c)
|
— | 735 | — | 553 | — | 947 | 2,760 | ||||||||||||||||||||||||||||||||||||||||
Affiliated companies | |||||||||||||||||||||||||||||||||||||||||||||||
UOL Edtech Tecnologia –
Deposits (c)
|
— |
4,881
|
— | — | — | 4,881 | — | — | |||||||||||||||||||||||||||||||||||||||
Compasso Informática S.A.(d)
|
— | 44,340 | — | — | — | 65,281 | — | — | |||||||||||||||||||||||||||||||||||||||
Transfolha Transportadora e
Distribuição Ltda.
|
— | 9,171 | — | 7,082 | — | 12,485 | — | 17,129 | |||||||||||||||||||||||||||||||||||||||
UOL Diveo - sales of services (d)
|
— | 1,580 | — | 9,987 | — | 2,289 | — | 36,209 | |||||||||||||||||||||||||||||||||||||||
Others
|
470 | 1,608 | 5 | 278 | 768 | 1,630 | 13 | 2,830 | |||||||||||||||||||||||||||||||||||||||
2,084 | 194,374 | 782 | 116,606 | 3,192 | 266,837 | 2,110 | 233,602 |
(a) | Shared services costs mainly related to payroll costs that are incurred by the parent company UOL and are charged to PagSeguro. Such costs are included in administrative expenses and the increase in three-month period relates mainly to higher payroll costs (profit sharing). | |||||||
(b) | Sale of services expenses is related to advertising services and software licenses from UOL and revenue is related to intermediation fees. | |||||||
(c) |
Expenses are related to UOL and Uol Edtech purchase of BancoSeguro’s Certificate of Deposits (CD).
|
|||||||
(d) | Expenses related to colocation and cloud services. In 2020, these services were provided by UOL Diveo and in 2021 the same services are provided by the affiliated company Compasso. The increase in 2021 relates to higher volume of cloud services due to the increase in active merchants and PagBank users. |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
10. Business combinations
|
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
September 30, 2021 | December 31, 2020 | |||||||||||||
Fair value of assets and liabilities acquired | ||||||||||||||
Cash and cash equivalents | 529 | 38,385 | ||||||||||||
Accounts receivable acquired | 540 | 537,570 | ||||||||||||
Financial investments acquired | — | 177,772 | ||||||||||||
Other assets acquired | 1,092 | 30,988 | ||||||||||||
Payables to third parties assumed | — | (566,244) | ||||||||||||
Liabilities assumed | (4,020) | (42,263) | ||||||||||||
Customer portfolio, expenditures with software and others
|
45,763 | 58,506 | ||||||||||||
Contingency liability | (7,848) | — | ||||||||||||
Value of net assets | 36,056 | 234,714 | ||||||||||||
Goodwill | 7,840 | 134,274 | ||||||||||||
Purchase cost | 43,896 | 368,988 | ||||||||||||
Consideration for the purchase settled in cash | 35,000 | 315,287 | ||||||||||||
Cash and cash equivalents at the subsidiary acquired | (529) | (38,385) | ||||||||||||
Amount paid on acquisitions less cash and cash equivalents acquired | 34,471 | 276,902 |
11. Property and equipment
|
September 30, 2021 | |||||||||||||||||
Cost | Accumulated depreciation | Net | |||||||||||||||
Data processing equipment | 98,364 | (48,440) | 49,924 | ||||||||||||||
Machinery and equipment (i) | 2,541,714 | (524,826) | 2,016,888 | ||||||||||||||
Buildings Leasing | 83,346 | (22,739) | 60,607 | ||||||||||||||
Other | 28,262 | (7,386) | 20,876 | ||||||||||||||
Total | 2,751,686 | (603,391) | 2,148,295 | ||||||||||||||
December 31, 2020 | |||||||||||||||||
Cost | Accumulated depreciation | Net | |||||||||||||||
Data processing equipment | 77,413 | (35,572) | 41,841 | ||||||||||||||
Machinery and equipment (i) | 1,881,556 | (204,154) | 1,677,402 | ||||||||||||||
Buildings Leasing | 79,890 | (12,623) | 67,267 | ||||||||||||||
Other | 22,115 | (6,012) | 16,103 | ||||||||||||||
Total | 2,060,974 | (258,360) | 1,802,613 |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
Data processing equipment | Machinery and equipment (i) | Buildings Leasing | Other | Total | |||||||||||||||||||||||||
On December 31, 2020 | 46,538 | 343,229 | — | 10,223 | 399,990 | ||||||||||||||||||||||||
Opening balance | |||||||||||||||||||||||||||||
Cost | 12,297 | 1,509,815 | 79,890 | 9,609 | 1,611,610 | ||||||||||||||||||||||||
Purchases
|
10,820 | 1,519,278 | 79,717 | 3,789 | 1,613,604 | ||||||||||||||||||||||||
Disposals
|
(1,509) | (9,838) | (684) | (74) | (12,105) | ||||||||||||||||||||||||
Acquisition of subsidiary
|
2,986 | 374 | 857 | 5,894 | 10,111 | ||||||||||||||||||||||||
Depreciation | (16,994) | (175,641) | (12,623) | (3,729) | (208,987) | ||||||||||||||||||||||||
Depreciation
|
(15,596) | (175,805) | (12,227) | (1) | (204,628) | ||||||||||||||||||||||||
Disposals
|
21 | 264 | — | 17 | 302 | ||||||||||||||||||||||||
Acquisition of subsidiary
|
(1,419) | (100) | (396) | (2,746) | (4,661) | ||||||||||||||||||||||||
Net book value | 41,841 | 1,677,402 | 67,267 | 16,103 | 1,802,613 | ||||||||||||||||||||||||
On December 31, 2020 | |||||||||||||||||||||||||||||
Cost | 77,413 | 1,881,556 | 79,890 | 22,116 | 2,060,974 | ||||||||||||||||||||||||
Accumulated depreciation | (35,572) | (204,154) | (12,623) | (6,013) | (258,360) | ||||||||||||||||||||||||
Net book value | 41,841 | 1,677,402 | 67,267 | 16,103 | 1,802,613 | ||||||||||||||||||||||||
On September 30, 2021 | |||||||||||||||||||||||||||||
Opening balance | |||||||||||||||||||||||||||||
Cost | 20,951 | 660,158 | 3,457 | 6,146 | 690,712 | ||||||||||||||||||||||||
Purchases
|
20,696 | 672,689 | 4,314 | 7,952 | 705,652 | ||||||||||||||||||||||||
Disposals
|
(261) | (12,540) | (857) | (2,026) | (15,684) | ||||||||||||||||||||||||
Acquisition of subsidiary
|
516 | 9 | — | 220 | 745 | ||||||||||||||||||||||||
Depreciation | (12,868) | (320,672) | (10,116) | (1,374) | (345,030) | ||||||||||||||||||||||||
Depreciation
|
(12,613) | (323,461) | (10,719) | (2,253) | (349,046) | ||||||||||||||||||||||||
Disposals
|
123 | 2,792 | 603 | 964 | 4,482 | ||||||||||||||||||||||||
Acquisition of subsidiary
|
(378) | (3) | — | (85) | (466) | ||||||||||||||||||||||||
Net book value | 49,924 | 2,016,888 | 60,608 | 20,875 | 2,148,295 | ||||||||||||||||||||||||
On September 30, 2021 | |||||||||||||||||||||||||||||
Cost | 98,364 | 2,541,714 | 83,346 | 28,262 | 2,751,686 | ||||||||||||||||||||||||
Accumulated depreciation | (48,440) | (524,826) | (22,739) | (7,386) | (603,391) | ||||||||||||||||||||||||
Net book value | 49,924 | 2,016,888 | 60,608 | 20,875 | 2,148,295 |
(i) |
Net book value of machinery and equipment are R$1,968,877 of POS devices (R$1,635,782, as of December 31, 2020), which are depreciated over 5 years. The depreciation of POS in the nine-month period ended September 30, 2021, amounted to R$319,703 (R$99,510 in the nine-month period ended September 30, 2020). On September 30, 2021, PagSeguro have contractual obligations to acquire POS Devices in the amount of R$1,536,271 (R$1,386,324 on December 31, 2020).
|
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
12. Intangible assets
|
September 30, 2021 | |||||||||||||||||
Cost | Accumulated amortization | Net | |||||||||||||||
Expenditures related to software and technology (i) | 1,852,540 | (694,706) | 1,157,834 | ||||||||||||||
Software licenses | 119,935 | (44,874) | 75,061 | ||||||||||||||
Goodwill (ii) | 178,263 | — | 178,263 | ||||||||||||||
Other | 67,769 | (11,648) | 56,121 | ||||||||||||||
2,218,507 | (751,228) | 1,467,279 | |||||||||||||||
December 31, 2020 | |||||||||||||||||
Cost | Accumulated amortization | Net | |||||||||||||||
Expenditures related to software and technology (i) | 1,319,061 | (501,319) | 817,742 | ||||||||||||||
Software licenses | 103,256 | (29,060) | 74,196 | ||||||||||||||
Goodwill (ii) | 169,667 | — | 169,667 | ||||||||||||||
Other | 62,786 | (771) | 62,015 | ||||||||||||||
1,654,770 | (531,150) | 1,123,620 |
(i) | The PagSeguro Group capitalizes expenses incurred with the development of platforms, which are amortized over their useful lives of approximately five years. | |||||||
(ii) |
The balances comprise the goodwill arising from the acquisition of the companies R2Tech, Biva, BancoSeguro, Yamí Zygo, MOIP and Concil.
|
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
Expenditures with software and technology | Software licenses | Goodwill | Other | Total | |||||||||||||||||||||||||
On December 31, 2020 | 485,939 | 44,755 | 54,858 | 4,001 | 589,553 | ||||||||||||||||||||||||
Opening balance | |||||||||||||||||||||||||||||
Cost | 531,092 | 45,010 | 114,809 | 58,199 | 749,110 | ||||||||||||||||||||||||
Additions (i)
|
485,608 | 42,138 | 134,274 | 58,633 | 720,653 | ||||||||||||||||||||||||
Disposals (ii)
|
(6,308) | — | (19,465) | (447) | (26,220) | ||||||||||||||||||||||||
Acquisition of subsidiary (iii)
|
51,791 | 2,871 | — | 13 | 54,675 | ||||||||||||||||||||||||
Amortization | (199,289) | (15,569) | — | (185) | (215,043) | ||||||||||||||||||||||||
Amortization
|
(164,319) | (15,153) | — | (180) | (179,652) | ||||||||||||||||||||||||
Disposals
|
2,667 | — | — | — | 2,667 | ||||||||||||||||||||||||
Acquisition of subsidiary (iii)
|
(37,636) | (416) | — | (5) | (38,056) | ||||||||||||||||||||||||
Net book value | 817,742 | 74,196 | 169,667 | 62,015 | 1,123,620 | ||||||||||||||||||||||||
On December 31, 2020 | |||||||||||||||||||||||||||||
Cost | 1,319,061 | 103,256 | 169,667 | 62,786 | 1,654,770 | ||||||||||||||||||||||||
Accumulated amortization | (501,319) | (29,060) | — | (771) | (531,150) | ||||||||||||||||||||||||
Net book value | 817,742 | 74,196 | 169,667 | 62,015 | 1,123,620 | ||||||||||||||||||||||||
On September 30, 2021 | |||||||||||||||||||||||||||||
Cost | 533,479 | 16,679 | 8,596 | 4,983 | 563,737 | ||||||||||||||||||||||||
Additions (iv)
|
542,590 | 18,245 | 8,596 | 4,983 | 574,414 | ||||||||||||||||||||||||
Disposals
|
(9,376) | (1,705) | — | — | (11,081) | ||||||||||||||||||||||||
Acquisition of subsidiary (iii)
|
265 | 139 | — | — | 404 | ||||||||||||||||||||||||
Amortization | (193,387) | (15,814) | — | (10,877) | (220,078) | ||||||||||||||||||||||||
Amortization
|
(195,004) | (16,036) | — | (10,877) | (221,917) | ||||||||||||||||||||||||
Disposals
|
1,617 | 222 | — | — | 1,839 | ||||||||||||||||||||||||
Net book value | 1,157,834 | 75,061 | 178,263 | 56,121 | 1,467,279 | ||||||||||||||||||||||||
On September 30, 2021 | |||||||||||||||||||||||||||||
Cost | 1,852,540 | 119,935 | 178,263 | 67,769 | 2,218,507 | ||||||||||||||||||||||||
Accumulated amortization | (694,706) | (44,874) | — | (11,648) | (751,228) | ||||||||||||||||||||||||
Net book value | 1,157,834 | 75,061 | 178,263 | 56,121 | 1,467,279 |
(i) | Refers to pulverized expenditures with software and technology, mainly related to customer experience, such as, digital payment and digital banking account. Goodwill recorded in business combinations acquisitions, mainly related to MOIP and other is related to purchase price allocation of MOIP (customer portfolio). | |||||||
(ii) | Goodwill disposals refers to goodwill recorded in prior years related to business combinations acquisitions. | |||||||
(iii) |
Relates to intangible assets from Concil acquired in 2021 and MOIP, ZYGO and CDS, which were acquired in 2020.
|
|||||||
(iv) | Refers to pulverized expenditures with software and technology, mainly related to customer experience functionalities, such as, digital payment and digital banking account. Goodwill recorded in business combinations acquisitions related to Concil. |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
13. Payables to third parties
|
14. Deposits |
September 30, 2021 | December 31, 2020 | ||||||||||
Certificate of Deposit (i) | 2,157,342 | 604,916 | |||||||||
Interbank deposits (ii) | 300,163 | — | |||||||||
Corporate securities (iii) | 212,640 | 161,170 | |||||||||
2,670,145 | 766,086 | ||||||||||
Current | 2,458,376 | 571,996 | |||||||||
Non – Current | 211,769 | 194,090 |
(i) | The average return is 169% of CDI (164% of CDI in December 2020). The increase is related to higher offer of CDBs products to our clients, considering this service began in 2020. | |||||||
(ii) | The average return is 115% of CDI. | |||||||
(iii) | The average return is 155% of CDI (158% of CDI in December 2020). |
September 30, 2021 | December 31, 2020 | ||||||||||
Due within 30 days | 214,553 | 5,231 | |||||||||
Due within 31 to 120 days | 1,282,133 | 77,812 | |||||||||
Due within 121 to 180 days | 307,648 | 53,000 | |||||||||
Due within 181 to 360 days | 654,042 | 435,953 | |||||||||
Due to 361 days or more days | 211,769 | 194,090 | |||||||||
2,670,145 | 766,086 |
On December 31, 2019 | — | ||||
Additions | 892,754 | ||||
Withdraws | (130,460) | ||||
Interest | 3,792 | ||||
On December 31, 2020 | 766,086 | ||||
Additions | 3,012,217 | ||||
Withdraws | (1,157,282) | ||||
Interest | 49,124 | ||||
On September 30, 2021 | 2,670,145 |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
15. Salaries and social security charges |
September 30, 2021 | December 31, 2020 | ||||||||||
Profit sharing
|
45,771 | 80,665 | |||||||||
Social charges
|
30,123 | 24,776 | |||||||||
Payroll accruals
|
105,780 | 53,264 | |||||||||
Payroll taxes (LTIP) (i)
|
57,791 | 11,029 | |||||||||
Other
|
7,818 | 5,464 | |||||||||
247,283 | 175,198 |
(i) | Refers to social charges and income tax over LTIP and LTIP goals balances. |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
16. Taxes and contributions |
September 30, 2021 | December 31, 2020 | ||||||||||
Taxes | |||||||||||
Services tax and other (i)
|
167,412 | 157,066 | |||||||||
Value-added tax on sales and services (ii)
|
192 | 29,678 | |||||||||
Social integration program (iii)
|
26,786 | 24,984 | |||||||||
Social contribution on revenues (iii)
|
164,446 | 153,626 | |||||||||
Income tax and social contribution (iv)
|
4,682 | 6,336 | |||||||||
Other
|
13,176 | 8,841 | |||||||||
376,694 | 380,531 | ||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||
Judicial deposits (v) | |||||||||||
Services tax (i)
|
(156,749) | (150,121) | |||||||||
Value-added tax on sales and services (ii)
|
— | (29,114) | |||||||||
Social integration program (iii)
|
(25,401) | (24,498) | |||||||||
Social contribution on revenues (iii)
|
(156,313) | (150,756) | |||||||||
(338,463) | (354,489) | ||||||||||
38,231 | 26,042 |
(i) | Refers to tax on revenues. | |||||||
(ii) | In March 2021, there was a decision taken by Brazilian Supreme Court related to Value-added Tax on Sales and Services (ICMS), that beneficiated the Company. For this reason, the Company reversed the provision in the amount of R$29,114. Consequently, as the Company does not have this amount recorded in liability to make the offset with judicial deposits, the deposit is now being presented in the non-current assets as Judicial Deposits, until the withdrawal of these amounts. | |||||||
(iii) | Refers mainly to Social Integration Program (PIS) and Social Contribution on Revenues (COFINS) charged on financial income. | |||||||
(iv) | Refers to the income tax and social contribution payable. | |||||||
(v) | The PagSeguro Group obtained court decisions to deposit the amount related to the payments in escrow for matters discussed in items “i”, “ii” and “iii” above. |
17. Provision for contingencies |
September 30, 2021 | December 31, 2020 | ||||||||||
Civil | 34,034 | 23,238 | |||||||||
Labor | 3,180 | 5,566 | |||||||||
37,214 | 28,804 | ||||||||||
Current | 24,407 | 17,063 | |||||||||
Non-Current | 12,807 | 11,741 |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
17. Provision for contingencies (continued) |
On December 31, 2019 | 11,849 | ||||
Accrual | 6,409 | ||||
Acquisition of subsidiary | 11,446 | ||||
Settlement | (1,127) | ||||
Interest | 227 | ||||
On December 31, 2020 | 28,804 | ||||
Accrual | 19,911 | ||||
Settlement | (12,994) | ||||
Interest | 1,493 | ||||
On September 30, 2021 | 37,214 |
18. Income tax and social contribution
|
Tax losses | Tax credit | Technological inovation (i) | Other temporary differences assets (ii) | Other temporary differences liability (iii) | Total | ||||||||||||||||||||||||||||||
Deferred tax | |||||||||||||||||||||||||||||||||||
On December 31, 2019 | 50,134 | 5,618 | (161,211) | 153,632 | (679,123) | (630,950) | |||||||||||||||||||||||||||||
Included in the statement of income | 165,893 | (541) | (79,447) | 12,501 | (407,414) | (309,008) | |||||||||||||||||||||||||||||
Other | 2,550 | — | — | 5 | — | 2,555 | |||||||||||||||||||||||||||||
On September 30,2020 | 218,577 | 5,077 | (240,658) | 166,138 | (1,086,537) | (937,402) | |||||||||||||||||||||||||||||
Included in the statement of income | (149,738) | (180) | (37,313) | (5,538) | 58,654 | (134,115) | |||||||||||||||||||||||||||||
Other | — | — | — | 22,218 | — | 22,218 | |||||||||||||||||||||||||||||
On December 31, 2020 | 68,839 | 4,897 | (277,971) | 182,818 | (1,027,883) | (1,049,300) | |||||||||||||||||||||||||||||
Included in the statement of income | 152,809 | (4,717) | (114,169) | 65,940 | (325,266) | (225,403) | |||||||||||||||||||||||||||||
Other | 4,468 | — | 8,617 | (93) | — | 12,992 | |||||||||||||||||||||||||||||
On September 30, 2021 | 226,116 | 180 | (383,523) | 248,665 | (1,353,149) | (1,261,711) | |||||||||||||||||||||||||||||
Deferred tax asset | 88,749 | ||||||||||||||||||||||||||||||||||
Deferred tax liability | (1,350,460) |
(i) | Refers to the benefit granted by the Technological Innovation Law (Lei do Bem), which reduces the tax charges on the capitalized amount of intangible assets. | |||||||
(ii) | The main other assets temporary difference refers to expected credit losses and taxes and contributions as detailed in Note 16. | |||||||
(iii) | The main other liability temporary difference refers to gain on the ownership of FIDC quotas, that will be realized only in the redemption of such quotas. |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
Three-month period | Nine-month period | |||||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||||||
Profit for the period before taxes | 421,181 | 352,190 | 1,119,709 | 1,260,781 | ||||||||||||||||||||||
Statutory rate | 34% | 34% | 34% | 34% | ||||||||||||||||||||||
Expected income tax and social contribution | (143,202) | (119,745) | (380,701) | (428,666) | ||||||||||||||||||||||
Income tax and social contribution effect on: | ||||||||||||||||||||||||||
Permanent additions (exclusions) | ||||||||||||||||||||||||||
Gifts
|
(714) | (4,745) | (1,080) | (6,615) | ||||||||||||||||||||||
R&D and technological innovation benefit (i)
|
41,755 | 39,976 | 116,929 | 93,097 | ||||||||||||||||||||||
Taxation of income abroad | 537 | (163) | (600) | 1,181 | ||||||||||||||||||||||
Unrecorded deferred taxes | 139 | — | 7,765 | — | ||||||||||||||||||||||
Other additions | 1,849 | (4,084) | 2,994 | (3,121) | ||||||||||||||||||||||
Income tax and social contribution expense | (99,635) | (88,761) | (254,693) | (344,124) | ||||||||||||||||||||||
Effective rate | 24% | 25% | 23% | 27% | ||||||||||||||||||||||
Income tax and social contribution – current | (7,652) | (13,349) | (29,290) | (35,117) | ||||||||||||||||||||||
Income tax and social contribution - deferred | (91,983) | (75,412) | (225,403) | (309,007) |
(i) |
Refers to the benefit granted by the Technological Innovation Law 11.196/05 (Lei do Bem), which reduces the income tax charges, based on the amount invested by the PagSeguro Group on specific intangible assets, see Note 12.
|
19. Equity |
December 31, 2019 shares outstanding | 328,855,412 | |||||||
Treasury shares | (350,006) | |||||||
Long-Term Incentive Plan | 1,058,509 | |||||||
Repurchase of common shares | (547,543) | |||||||
December 31, 2020 shares outstanding | 329,016,372 | |||||||
Treasury shares | (166,170) | |||||||
Long-Term Incentive Plan | 742,474 | |||||||
September 30, 2021 shares outstanding | 329,592,676 |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
Shares | Amount | Average price per share | |||||||||||||||
Repurchased shares | |||||||||||||||||
2018 | 503,642 | 39,532 | US$20.09 | ||||||||||||||
2019 | 15,000 | 1,735 | US$28.14 | ||||||||||||||
2020 | 547,543 | 44,775 | US$16.13 | ||||||||||||||
Distributed shares to LTIP | |||||||||||||||||
2020 | (897,549) | (72,433) | — | ||||||||||||||
2021 | (166,170) | (13,410) | — | ||||||||||||||
Treasury Shares | 2,466 | 199 | — |
20. Earnings per share |
Three-month period | Nine-month period | ||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | ||||||||||||||||||||
Profit attributable to stockholders of the Company | 321,393 | 263,304 | 864,706 | 916,110 | |||||||||||||||||||
Weighted average number of outstanding common shares (thousands) | 330,397,738 | 329,090,226 | 330,193,647 | 329,090,226 | |||||||||||||||||||
Basic earnings per share - R$ | 0.9727 | 0.8001 | 2.6188 | 2.7838 |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
Three-month period | Nine-month period | ||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | ||||||||||||||||||||
Profit used to determine diluted earnings per share | 321,393 | 263,304 | 864,706 | 916,110 | |||||||||||||||||||
Weighted average number of outstanding common shares (thousands) | 330,397,738 | 329,090,226 | 330,193,647 | 329,090,226 | |||||||||||||||||||
Weighted average number of shares that would have been issued at average market price | 2,014,239 | 547,465 | 2,137,950 | 547,465 | |||||||||||||||||||
Weighted average number of common shares for diluted earnings per share (thousands) | 332,411,977 | 329,637,691 | 332,331,597 | 329,637,691 | |||||||||||||||||||
Diluted earnings per share - R$ | 0.9669 | 0.7988 | 2.6019 | 2.7791 |
21. Total revenue and income |
Three-month period | Nine-month period | ||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | ||||||||||||||||||||
Gross revenue from transaction activities and
other services (i)
|
1,997,972 | 1,359,683 | 5,284,579 | 3,409,776 | |||||||||||||||||||
Gross financial income (ii)
|
954,009 | 548,235 | 2,414,255 | 1,578,288 | |||||||||||||||||||
Other financial income (iii)
|
45,861 | 24,747 | 105,969 | 124,705 | |||||||||||||||||||
Total gross revenue and income
|
2,997,842 | 1,932,665 | 7,804,803 | 5,112,769 | |||||||||||||||||||
Deductions from gross revenue from transactions
activities and other services (iv)
|
(205,811) | (147,712) | (559,320) | (374,539) | |||||||||||||||||||
Deductions from gross financial income (v)
|
(16,266) | (3,480) | (32,919) | (12,018) | |||||||||||||||||||
Total deductions from gross revenue and income
|
(222,077) | (151,192) | (592,239) | (386,557) | |||||||||||||||||||
Total revenue and income
|
2,775,765 | 1,781,473 | 7,212,564 | 4,726,212 |
(i) |
The amount of R$68,281 and R$200,479 for the three and nine-month periods ended September 30, 2021 (R$41,233 and R$86,638 in the three and nine-month periods ended September 30, 2020) corresponds to membership fee.
|
|||||||
(ii) |
Includes (a) interest income from early payment of notes payable to third parties.
|
|||||||
(iii) |
Includes (a) interest of financial investments and (b) gain on exchange variation.
|
|||||||
(iv) |
Deductions consist of transactions taxes. Additionally, the amount of R$6,316 and R$18,544 for the three and nine-month periods ended September 30, 2021 (R$3,927 and R$8,278 for the three and nine-month periods ended September 30, 2020) corresponds to membership fee taxes.
|
|||||||
(v) |
Deductions consist of taxes on financial income.
|
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
22. Expenses by nature
|
Three-month period | Nine-month period | ||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | ||||||||||||||||||||
Transactions costs (i)
|
(1,112,151) | (801,853) | (2,923,130) | (1,947,708) | |||||||||||||||||||
Marketing and advertising
|
(210,441) | (115,934) | (613,338) | (370,154) | |||||||||||||||||||
Personnel expenses (ii)
|
(335,507) | (205,894) | (815,739) | (409,321) | |||||||||||||||||||
Financial expenses (iii)
|
(209,823) | (16,256) | (387,995) | (79,690) | |||||||||||||||||||
Chargebacks (iv)
|
(129,891) | (82,473) | (450,051) | (212,969) | |||||||||||||||||||
Depreciation and amortization (vi)
|
(203,300) | (101,528) | (543,126) | (242,513) | |||||||||||||||||||
Other (v)
|
(153,471) | (105,345) | (359,476) | (203,076) | |||||||||||||||||||
(2,354,584) | (1,429,283) | (6,092,855) | (3,465,431) | ||||||||||||||||||||
Classified as: | |||||||||||||||||||||||
Cost of services
|
(1,502,018) | (1,057,233) | (3,943,121) | (2,619,159) | |||||||||||||||||||
Selling expenses
|
(367,893) | (151,626) | (1,099,775) | (451,850) | |||||||||||||||||||
Administrative expenses
|
(273,029) | (197,109) | (687,998) | (377,145) | |||||||||||||||||||
Financial expenses
|
(209,823) | (16,256) | (387,995) | (79,690) | |||||||||||||||||||
Other income (expenses), net
|
(1,821) | (7,060) | 26,034 | 62,413 | |||||||||||||||||||
(2,354,584) | (1,429,283) | (6,092,855) | (3,465,431) |
(i) |
The increase is mainly represented by: costs related to freight, maintenance of POS and storage costs in the amount of R$65,983 and R$189,564 for the three and nine-month periods ended September 30, 2021 (R$57,718 and R$183,037 for the three and nine-month periods ended September 30, 2020). Additionally, costs related to interchange fees of card issuers were the amount of R$820,272 and R$2,063,516 for the three and nine-month periods ended September 30, 2021 (R$475,813 and R$1,144,801 in the three and nine-month periods ended September 30, 2020) and card scheme fees in the amount of R$164,722 and R$455,353 for the three and nine-month periods ended September 30, 2021 (R$121,868 and R$304,858 in the three and nine-month periods ended September 30, 2020).
|
|||||||
(ii) |
Includes R$140,743 and R$326,282 of compensation expenses related to the LTIP and LTIP goals for the three and nine-month periods ended September 30, 2021 (R$101,381 and R$132,792 for the three and nine-month periods ended September 30, 2020). The increase in personnel expenses is mainly related to the LTIP and LTIP goals expenses and Hubs’ workforce expansion.
|
|||||||
(iii) |
Relates mainly to the early collection of receivables, which amounted to R$115,535 and R$198,525 in the three and nine-month periods ended September 30, 2021 (R$4,572 and R$37,394 in the three and nine-month periods ended September 30, 2020). Additionally, R$18,688 and R$64,073 are related to expenses with exchange rate in foreign currency in the three and nine-month periods ended September 30, 2021 (R$0 in the three and nine-month periods ended September 30, 2020).
|
|||||||
(iv) |
Chargebacks refer to losses recognized during the period related to card processing operations (acquiring and issuing), losses on digital accounts and provision for delinquency rate of credit portfolio, as detailed in Note 24. In the first quarter of 2021, the increase in the amount of R$73,356 is represented by inappropriate use of a system functionality implemented in the past, allowing unappropriated transactions by digital accounts customers and unexpected chargebacks on digital account losses for specific group of customers with higher credit risk for a new product. For all these facts, the corresponding root cause was identified and appropriately addressed by Pagseguro management, and there were no losses from these matters in second and third quarters of 2021.
|
|||||||
(v) |
In the nine-month period ended September 30, 2021, includes R$29,114 related to the reversal in the tax payable as detailed in Note 16. In the nine-month period ended September 30, 2020, includes R$84,294 related to the reversal of taxation of PIS/COFINS on financial income.
|
|||||||
(vi) |
Depreciation and amortization amounts incurred in the period are segregated between costs and expenses as presented below:
|
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
Three-month period | Nine-month period | ||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | ||||||||||||||||||||
Depreciation | |||||||||||||||||||||||
Cost of sales and services (i) | (121,758) | (52,310) | (331,988) | (110,406) | |||||||||||||||||||
Selling expenses | (36) | (7) | (51) | (19) | |||||||||||||||||||
Administrative expenses | (6,869) | (4,578) | (17,007) | (12,883) | |||||||||||||||||||
(128,663) | (56,895) | (349,046) | (123,308) | ||||||||||||||||||||
Amortization | |||||||||||||||||||||||
Cost of sales and services | (77,944) | (45,775) | (207,302) | (122,554) | |||||||||||||||||||
Administrative expenses | (3,939) | (819) | (14,616) | (2,527) | |||||||||||||||||||
(81,883) | (46,594) | (221,918) | (125,081) | ||||||||||||||||||||
PIS and COFINS credits (ii) | 7,246 | 1,961 | 27,838 | 5,874 | |||||||||||||||||||
Depreciation and amortization expense, net | (203,300) | (101,528) | (543,126) | (242,513) |
(i) |
The depreciation of POS in the three and nine-month periods ended September 30, 2021, amounted to R$117,172 and R$319,703 (R$48,486 and R$99,510 in the three and nine-month periods ended September 30, 2020).
|
|||||||
(ii) |
PagSeguro Brazil has a tax benefit on PIS and COFINS that allows it to reduce the depreciation and amortization expenses when incurred. This tax benefit is recognized directly as a reduction of depreciation and amortization expense.
|
23. Financial instruments by category |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
September 30, 2021 | December 31, 2020 | ||||||||||
Financial assets | |||||||||||
Amortized cost: | |||||||||||
Cash and cash equivalents
|
1,122,388 | 1,640,065 | |||||||||
Accounts receivables
|
20,302,547 | 16,076,540 | |||||||||
Other receivables
|
143,699 | 164,805 | |||||||||
Judicial deposits
|
38,413 | 7,449 | |||||||||
Investment
|
1,420 | 1,400 | |||||||||
Fair value through other comprehensive income
|
|||||||||||
Financial investments
|
1,000,877 | 979,837 | |||||||||
22,609,344 | 18,870,096 | ||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||
Financial liabilities | |||||||||||
Amortized cost: | |||||||||||
Payables to third parties
|
11,068,114 | 10,101,510 | |||||||||
Trade payables
|
377,589 | 335,539 | |||||||||
Trade payables to related parties
|
369,501 | 58,336 | |||||||||
Deposits
|
2,670,145 | 766,086 | |||||||||
Deferred revenue
|
202,860 | 213,555 | |||||||||
Other liabilities
|
141,910 | 159,198 | |||||||||
14,830,120 | 11,634,224 |
24. Financial risk management |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
Transaction | Interest rate risk | Book Value | Scenario with maintaining of CDI (6.15%) | Probable scenario with increase of 40% (to 8.6%) | |||||||||||||||||||
Cash and cash equivalents | 100% of CDI | 1,122,388 | 69,027 | 96,525 | |||||||||||||||||||
Financial investments | 100% of CDI | 1,000,877 | 61,554 | 86,075 | |||||||||||||||||||
Certificate of Deposit | 169% of CDI | 2,157,342 | (224,223) | (313,548) | |||||||||||||||||||
Interbank deposits | 115% of CDI | 300,163 | (31,197) | (43,626) | |||||||||||||||||||
Corporate securities | 155% of CDI | 212,640 | (20,270) | (28,345) | |||||||||||||||||||
Bank accounts | 57% of CDI | 3,810,758 | (133,586) | (186,803) | |||||||||||||||||||
Total | (278,695) | (389,722) |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
25. Capital management |
26. Non-cash Transactions |
September 30, 2021 | September 30, 2020 | ||||||||||
Non-cash operation activities | |||||||||||
Distribution of LTIP with treasury shares | 13,410 | 70,443 | |||||||||
Non-cash investing activities | |||||||||||
Property and equipment acquired through lease | 4,314 | 79,031 | |||||||||
MTM of financial investments | 370 | (846) |
27. Fair value measurement
|
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
27. Fair value measurement (continued)
|
September 30, 2021 | |||||||||||||||||
Quoted prices in active markets (Level 1) | Significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | |||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents
|
421,917 | 700,471 | — | ||||||||||||||
Financial investments
|
1,000,877 | — | — | ||||||||||||||
Accounts receivable
|
— | 20,302,547 | — | ||||||||||||||
Other receivables
|
— | 143,699 | — | ||||||||||||||
Judicial deposits
|
— | 38,413 | — | ||||||||||||||
Investment
|
— | — | 1,420 | ||||||||||||||
Financial liabilities | |||||||||||||||||
Payables to third parties
|
— | 11,068,114 | — | ||||||||||||||
Trade payables
|
— | 377,589 | — | ||||||||||||||
Trade payables to related parties
|
— | 369,501 | — | ||||||||||||||
Deposits
|
— | 2,670,146 | |||||||||||||||
Deferred revenue
|
— | 202,860 | — | ||||||||||||||
Other liabilities
|
— | 141,910 | — |
|
|
|||||||
PagSeguro Digital Ltd.
Notes to the unaudited condensed consolidated interim financial statements
As of September 30, 2021 and for the three and nine-month periods ended September 30, 2021 and 2020
(All amounts in thousands of reais unless otherwise stated)
|
December 31, 2020 | |||||||||||||||||
Quoted prices in active markets (Level 1) | Significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | |||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents
|
321,674 | 1,318,391 | — | ||||||||||||||
Financial investments
|
979,837 | — | — | ||||||||||||||
Accounts receivable
|
— | 16,076,540 | — | ||||||||||||||
Other receivables
|
— | 164,805 | — | ||||||||||||||
Judicial deposits
|
— | 7,449 | — | ||||||||||||||
Investment
|
— | — | 1,400 | ||||||||||||||
Financial liabilities | |||||||||||||||||
Payables to third parties
|
— | 10,101,510 | — | ||||||||||||||
Trade payables
|
— | 335,539 | — | ||||||||||||||
Trade payables to related parties
|
— | 58,336 | — | ||||||||||||||
Deposits
|
— | 766,086 | — | ||||||||||||||
Deferred revenue
|
— | 213,555 | — | ||||||||||||||
Other liabilities
|
— | 159,198 | — |
PagSeguro Digital Ltd. | ||||||||
By: | /s/ Artur Schunck | |||||||
Name: | Artur Schunck | |||||||
Title: | Chief Financial and Investor Relations Officer, Chief Accounting Officer and Director |
1 Year PagSeguro Digital Chart |
1 Month PagSeguro Digital Chart |
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