Petrobras — Relatório de desempenho 4T14 (6-K, reapresentação com demonstrações revisadas)

Petrobras wrote off R$6.194 billion in capitalized costs that, according to the company, represented overpayments to suppliers through a payment scheme uncovered by Lava Jato; recognized in 3Q14.

Excerpt: “Write-offs of overpayments incorrectly capitalized in the amount of R$ 6,194 million were recognized in the 3Q-2014”

Source: Petrobras — Relatório de desempenho 4T14 (6-K, reapresentação com demonstrações revisadas) — Petrobras, Apr. 2015 · p. 1 (Key events) and p. 3 ("The Lava Jato (Car Wash) Operation and its effects on the Company") · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: Accounting estimate by Petrobras itself based on testimony; the company states it cannot identify individual payments with overpricing.

Methodology: contracts with the companies named in testimony, signed between 2004 and April 2012 (R$199.610 billion); the 3% indicated in the testimony was applied (R$5.988 billion), plus R$150 million in payments outside the cartel (R$6.138 billion), minus R$346 million from a depreciation reversal and plus R$402 million from the write-off of tax credits, arriving at R$6.194 billion.

Excerpt: “the Company estimated the aggregate overpayment by applying a percentage indicated in the depositions (3%)”

Source: Petrobras — Relatório de desempenho 4T14 (6-K, reapresentação com demonstrações revisadas) — Petrobras, Apr. 2015 · pp. 3–4, steps 1 to 5 and table "Consolidated Write-off – overpayments incorrectly capitalized" · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: The 3% comes from testimony; Petrobras states that it is impracticable to identify specific periods and amounts of the overpayments.

Petrobras recorded R$44.636 billion in impairment losses in 2014 and attributed the net loss of R$21.587 billion to those losses.

Excerpt: “The R$ 21,587 million loss in 2014 resulted from impairment charges in the amount of R$ 44,636 million.”

Source: Petrobras — Relatório de desempenho 4T14 (6-K, reapresentação com demonstrações revisadas) — Petrobras, Apr. 2015 · p. 1, opening paragraph and "Key events" box · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: The company's text lists several causes; Lava Jato is cited as one of them only for the RNEST and Comperj refineries.

In 4Q14, R$30.976 billion (R$30,976 million in the original) of the impairment (before taxes) related to domestic refineries, after individually testing the second unit of RNEST and Comperj; Petrobras attributed the loss to the prolonged postponement of the projects, resulting from cash preservation measures and the implications of Lava Jato for its suppliers, and to project planning deficiencies, a higher discount rate, and delays in cash inflows.

Source: Petrobras — Relatório de desempenho 4T14 (6-K, reapresentação com demonstrações revisadas) — Petrobras, Apr. 2015 · p. 1, "Key events" box, item i) · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: Petrobras does not separate how much of this amount results from Lava Jato; the attribution is qualitative and cumulative with other causes.