v2.4.0.6
Investments in Affiliates (Tables)
12 Months Ended
Dec. 31, 2010
Investments in Affiliates  
Schedule of all equity method investments in affiliates

 
  December 31,  
(US$ in millions)
  2010   2009  

Combined financial position (unaudited):

             

Current assets

  $ 1,269   $ 1,268  

Non-current assets

    2,004     2,238  
           

Total assets

  $ 3,273   $ 3,506  
           

Current liabilities

    778     933  

Non-current liabilities

    600     640  

Stockholders' equity

    1,895     1,933  
           

Total liabilities and stockholders' equity

  $ 3,273   $ 3,506  
           

Amounts recorded by Bunge:

             

Investments (1)

  $ 609   $ 622  

 

(US$ in millions)
  2010   2009   2008  

Combined results of operations (unaudited):

                   

Revenues

  $ 2,902   $ 5,407   $ 6,063  

Income before income tax and noncontrolling interest

    82     94     92  

Net income

    66     82     85  

Amounts recorded by Bunge:

                   

Equity in earnings of affiliates (2)

    27     80     34  

(1)
Approximately $5 million and $9 million of this amount at December 31, 2010 and 2009, respectively, related to Bunge's investment in Bunge-Ergon Vicksburg, LLC. At December 31, 2010 and 2009, Bunge's investment exceeded its underlying equity in the net assets of BEV. Straight line amortization of this excess against equity in earnings of affiliates was $1 million and $4 million, respectively. Amortization of the excess has been attributed to fixed assets of Bunge-Ergon Vicksburg, LLC, which were being amortized over 15 years. At December 31, 2010 and 2009, Bunge's investment of $367 million and $360 million, respectively, equaled its underlying equity in the net assets of Solae.

(2)
In 2009, equity in earnings of affiliates includes a $66 million, (net of tax of $3 million), gain on the sale of Saipol. In 2008, Bunge's equity in earnings of Solae included impairment and restructuring charges of $5 million, net of a tax benefit of $2 million.