CASH AND CASH EQUIVALENTS (Tables)

12 Months Ended

Dec. 31, 2022


	12.31.22	12.31.21
Cash and banks (1)	53,449	103,541
Short-term investments (2)	2,220,385	6,344,942
Total	2,273,834	6,448,483

(1)	On December 31, 2022 and 2021, the Consolidated balances included R$10.576 and R$66,682, respectively, related to the Financial Clearing House, with a Telefónica Group company (Note 29).

(2)

Highly liquid short-term investments basically comprise Bank Deposit Certificates (“CDB”) and Repurchase Agreements with first tier rated financial institutions, indexed to the Interbank Deposit Certificate (“CDI”) rate, with original maturities of up to three months, and with immaterial risk of change in value. Income from these investments are recorded as financial income. On December 31, 2022, the average remuneration of these short-term investments corresponded to 106.17% of the CDI (100.17% on December 31, 2021).