Bunge performed its annual impairment test in the fourth quarters of 2010, 2009 and 2008. For the year ended December 31, 2010 there was an impairment of $3 million in the milling products segment (see Note 9 of the notes to the consolidated financial statements). There were no impairments of goodwill for the years ended December 31, 2009 and 2008.

The changes in the carrying amount of goodwill by segment at December 31, 2010 and 2009 are as follows:

(US$ in millions)	Agribusiness			Sugar and Bioenergy (1)			Edible Oil Products			Milling Products			Fertilizer		Total

Balance, January 1, 2009	$	164		$	105		$	37		$	19		$	—	$	325
Goodwill acquired (2)		—			—			50			—			—		50
Reallocation of acquired goodwill (2) (3)		—			(12	)		(7	)		(14	)		—		(33	)
Tax benefit on goodwill amortization (4)		(6	)		—			—			—			—		(6	)
Foreign exchange translation		46			37			3			5			—		91

Balance, December 31, 2009		204			130			83			10			—		427
Goodwill acquired (2)		9			440			4			—			1		454
Reallocation of acquired goodwill (2)		—			—			(4	)		—			—		(4	)
Impairment		—			—			—			(3	)		—		(3	)
Tax benefit on goodwill amortization (4)		(6	)		—			(1	)		—			—		(7	)
Foreign exchange translation		8			61			(2	)		—			—		67

Balance, December 31, 2010	$	215		$	631		$	80		$	7		$	1	$	934

(1): See Note 1 and 2 of the notes to the consolidated financial statements.
(2): See Note 2 of the notes to the consolidated financial statements.
(3): In 2009, Bunge was released from an obligation of approximately $7 million recorded as part of the purchase accounting for edible oil products assets acquired in 2008. The release from this obligation was recorded in 2009 as a reduction of goodwill in the edible oil products segment.
(4): Bunge's Brazilian subsidiary's tax deductible goodwill is in excess of its book goodwill. For financial reporting purposes, the tax benefits attributable to the excess tax goodwill are first used to reduce associated goodwill and then other intangible assets to zero, prior to recognizing any income tax benefit in the consolidated statements of income.