Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 141

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 141
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Other income and expenses, net 
 Other income and expenses, net was an expense of US$7,893 million in 2024, a US$3,862 million change compared to an income of US$4,031 million in 2023, mainly due to:
 
–                                            effects                                          
    of the intermediate remeasurement on the health care plan for retired employees due to the
                      2023 labor agreement (a US$1,000 million expense); and                  
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–                                                lower                                              
    results on disposal/write-offs of assets (a US$228 million income in 2024 compared to a US$1,295
                                        million income in 2023).                                    
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Net Finance Expense
 Net finance expense was US$15,107 million in 2024, a 547.5% increase when compared to US$2,333 million in 2023, mainly due to a foreign exchange loss of US$11,104 million in 2024, as compared to a US$580 million loss in 2023, reflecting a 27.9% depreciation of the real/US$ exchange rate in 2024 compared to a 7.3% appreciation in 2023.

Annual Report and Form 20-F 2024 |

Results in equity-accounted investments
 We had a loss in equity-accounted investments of US$627 million in 2024, compared to a loss of US$304 million in 2023. This increase was mainly due to losses with Braskem reflecting lower financial results, due to the depreciation of the Brazilian real in 2024.
 
Income Taxes
 Income tax was an expense of US$3,537 million in 2024, compared to an expense of US$10,401 million in 2023, mainly due to lower Operating Income.
 For information regarding discussion of earlier years, please refer to our previous Annual Report and Form 20-F. Our SEC filings are available to the public on the SEC’s website at www.sec.gov and on our website at www.petrobras.com.br/ir.

Annual Report and Form 20-F 2024 |
Financial Performance by Business Segment
 
SELECTED FINANCIAL DATA BY REPORTABLE OPERATING SEGMENTS AND FOR CORPORATE AND OTHER BUSINESS
 
                                                              For              
                                                   the year ended December 31  
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                                                     2024       2023          ▲
                                                     (US$       (US$      24-23
                                                 million)   million