FINANCIAL INCOME (Tables)

12 Months Ended

Dec. 31, 2017

FINANCIAL INCOME

Schedule of financial income

	2017		2016		2015
Income from short-term investments	85,153		142,965		270,742
Interest income and other financial income	141,462		109,080		107,660
Financial Income	226,615		252,045		378,402
Interest on debt	(1,323,448	)	(1,540,797	)	(1,471,526	)
Monetary variation and other financial expenses	(402,836	)	(469,208	)	(308,840	)
Financial Expenses	(1,726,284	)	(2,010,005	)	(1,780,366	)
Exchange Variation, net	(4,057	)	851,635		(1,564,017	)
Reversal of monetary update of contingent liabilities, net	369,819		—		—
Gains and losses on financial instruments, net	(9,441	)	(38,930	)	87,085
Financial result, net	(1,143,348	)	(945,255	)	(2,878,896	)