|
(US$ in millions)
|
|
|
|
|
|
|
Edible |
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
Sugar and |
|
Oil |
|
Milling |
|
|
|
|
|
|
|
|
September 30, 2011 |
|
Agribusiness |
|
Bioenergy |
|
Products |
|
Products |
|
Fertilizer |
|
Unallocated (1) |
|
Total |
|
|
Net sales to external customers |
|
$ |
10,025 |
|
$ |
1,731 |
|
$ |
2,337 |
|
$ |
525 |
|
$ |
998 |
|
$ |
— |
|
$ |
15,616 |
|
|
Inter–segment revenues |
|
1,227 |
|
— |
|
17 |
|
— |
|
15 |
|
(1,259 |
) |
— |
|
|
Gross profit |
|
462 |
|
19 |
|
107 |
|
56 |
|
62 |
|
— |
|
706 |
|
|
Foreign exchange gains (losses) |
|
(113 |
) |
(20 |
) |
1 |
|
— |
|
5 |
|
— |
|
(127 |
) |
|
Equity in earnings of affiliates |
|
1 |
|
(1 |
) |
— |
|
2 |
|
(1 |
) |
— |
|
1 |
|
|
Noncontrolling interest (1) |
|
10 |
|
(2 |
) |
(1 |
) |
— |
|
— |
|
— |
|
7 |
|
|
Other income (expense) – net |
|
1 |
|
— |
|
5 |
|
(1 |
) |
(7 |
) |
— |
|
(2 |
) |
|
Segment EBIT (2) |
|
159 |
|
(43 |
) |
28 |
|
24 |
|
23 |
|
— |
|
191 |
|
|
Depreciation, depletion and amortization |
|
(52 |
) |
(55 |
) |
(26 |
) |
(6 |
) |
(12 |
) |
— |
|
(151 |
) |
|
Total assets |
|
14,928 |
|
4,022 |
|
2,303 |
|
704 |
|
2,618 |
|
326 |
|
24,901 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales to external customers |
|
$ |
7,783 |
|
$ |
1,153 |
|
$ |
1,664 |
|
$ |
407 |
|
$ |
655 |
|
$ |
— |
|
$ |
11,662 |
|
|
Inter–segment revenues |
|
954 |
|
— |
|
36 |
|
— |
|
44 |
|
(1,034 |
) |
— |
|
|
Gross profit |
|
442 |
|
63 |
|
106 |
|
58 |
|
43 |
|
— |
|
712 |
|
|
Foreign exchange gains (losses) |
|
62 |
|
6 |
|
2 |
|
(1 |
) |
8 |
|
— |
|
77 |
|
|
Equity in earnings of affiliates |
|
5 |
|
(4 |
) |
— |
|
1 |
|
6 |
|
— |
|
8 |
|
|
Noncontrolling interest (1) |
|
(6 |
) |
— |
|
1 |
|
— |
|
— |
|
11 |
|
6 |
|
|
Other income (expense) – net |
|
(5 |
) |
— |
|
(6 |
) |
6 |
|
— |
|
— |
|
(5 |
) |
|
Segment EBIT (1) (2) (3) |
|
313 |
|
34 |
|
30 |
|
39 |
|
14 |
|
(90 |
) |
340 |
|
|
Depreciation, depletion and amortization |
|
(44 |
) |
(33 |
) |
(18 |
) |
(7 |
) |
(9 |
) |
— |
|
(111 |
) |
|
Total assets |
|
13,726 |
|
4,393 |
|
2,007 |
|
693 |
|
2,196 |
|
86 |
|
23,101 |
|
(US$ in millions)
|
|
|
|
|
|
|
Edible |
|
|
|
|
|
|
|
|
|
|
Nine Months Ended |
|
|
|
Sugar and |
|
Oil |
|
Milling |
|
|
|
|
|
|
|
|
September 30, 2011 |
|
Agribusiness |
|
Bioenergy |
|
Products |
|
Products |
|
Fertilizer |
|
Unallocated (1) |
|
Total |
|
|
Net sales to external customers |
|
$ |
27,800 |
|
$ |
4,212 |
|
$ |
6,553 |
|
$ |
1,516 |
|
$ |
2,217 |
|
$ |
— |
|
$ |
42,298 |
|
|
Inter–segment revenues |
|
3,685 |
|
— |
|
53 |
|
49 |
|
37 |
|
(3,824 |
) |
— |
|
|
Gross profit |
|
1,283 |
|
98 |
|
335 |
|
167 |
|
109 |
|
— |
|
1,992 |
|
|
Foreign exchange gains (losses) |
|
(10 |
) |
3 |
|
— |
|
— |
|
(1 |
) |
— |
|
(8 |
) |
|
Equity in earnings of affiliates |
|
36 |
|
(1 |
) |
— |
|
4 |
|
3 |
|
— |
|
42 |
|
|
Noncontrolling interest (1) |
|
(2 |
) |
(4 |
) |
(5 |
) |
— |
|
— |
|
19 |
|
8 |
|
|
Other income (expense) – net |
|
(5 |
) |
2 |
|
3 |
|
(2 |
) |
(11 |
) |
— |
|
(13 |
) |
|
Segment EBIT (2) |
|
731 |
|
(23 |
) |
92 |
|
79 |
|
2 |
|
— |
|
881 |
|
|
Depreciation, depletion and amortization |
|
(149 |
) |
(129 |
) |
(67 |
) |
(20 |
) |
(33 |
) |
— |
|
(398 |
) |
|
Total assets |
|
14,928 |
|
4,022 |
|
2,303 |
|
704 |
|
2,618 |
|
326 |
|
24,901 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales to external customers |
|
$ |
21,834 |
|
$ |
3,141 |
|
$ |
4,815 |
|
$ |
1,196 |
|
$ |
1,995 |
|
$ |
— |
|
$ |
32,981 |
|
|
Inter–segment revenues |
|
2,753 |
|
18 |
|
79 |
|
41 |
|
71 |
|
(2,962 |
) |
— |
|
|
Gross profit |
|
1,041 |
|
131 |
|
291 |
|
126 |
|
93 |
|
— |
|
1,682 |
|
|
Foreign exchange gains (losses) |
|
(15 |
) |
13 |
|
(2 |
) |
(1 |
) |
(17 |
) |
— |
|
(22 |
) |
|
Equity in earnings of affiliates |
|
12 |
|
(6 |
) |
— |
|
2 |
|
9 |
|
— |
|
17 |
|
|
Noncontrolling interest (1) |
|
(21 |
) |
6 |
|
(3 |
) |
— |
|
(35 |
) |
33 |
|
(20 |
) |
|
Other income (expense) – net |
|
(1 |
) |
(5 |
) |
(5 |
) |
6 |
|
(3 |
) |
— |
|
(8 |
) |
|
Segment EBIT (1) (2) (3) |
|
463 |
|
43 |
|
35 |
|
53 |
|
2,343 |
|
(90 |
) |
2,847 |
|
|
Depreciation, depletion and amortization |
|
(135 |
) |
(79 |
) |
(58 |
) |
(21 |
) |
(33 |
) |
— |
|
(326 |
) |
|
Total assets |
|
13,726 |
|
4,393 |
|
2,007 |
|
693 |
|
2,196 |
|
86 |
|
23,101 |
|
(1) Includes the noncontrolling interest share of interest and tax to reconcile to consolidated noncontrolling interest. In addition, included in unallocated for the three and nine months ended September 30, 2010, is $90 million loss on extinguishment of debt (see Note 14).
(2) Total segment earnings before interest and taxes (EBIT) is an operating performance measure used by Bunge’s management to evaluate segment operating activities. Bunge’s management believes total segment EBIT is a useful measure of operating profitability, since the measure allows for an evaluation of the performance of its segments without regard to its financing methods or capital structure. In addition, EBIT is a financial measure that is widely used by analysts and investors in Bunge’s industries.
(3) On May 27, 2010, Bunge closed on the sale of its Brazilian fertilizer nutrients assets. As a result of this transaction, Bunge recorded a pre-tax gain on the sale of $2,440 million.
|