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Related Party Transactions | 12 Months Ended
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Dec. 31, 2011
Related Party Transactions |
Related Party Transactions |
21. Related Party Transactions Notes receivable—Bunge holds a note receivable under a revolving credit facility from Bunge-Ergon Vicksburg LLC, a 50% owned U.S. joint venture. The amounts outstanding were $29 million and $24 million at December 31, 2011 and 2010, respectively. This note matures in May 2013 with interest payable at a rate of LIBOR plus 2.0%. Bunge holds a note receivable from Southwest Iowa Renewable Energy, a 25% owned U.S. investment, having a carrying value of approximately $27 million and $34 million at December 31, 2011 and 2010, respectively. This note matures in August 2014 with interest payable at a rate of LIBOR plus 7.5%. Bunge holds a note receivable from Biodiesel Bilbao S.A., a 20% owned investment in Spain, having a carrying value of approximately $6 million and $7 million at December 31, 2011 and 2010, respectively. This note matures in December 2015 with interest payable at a rate of EURIBOR plus 2.0%. Bunge holds a note receivable from B-G Fertilizer, a 50% owned U.S. investment, having a carrying value of approximately $9 million at December 31, 2011. This is a revolving note with interest payable at a rate of LIBOR plus 3.00%. Bunge holds a note receivable from Biocolza-Oleos E Farinhas de Colza S.A., a 40% owned investment in Portugal, having a carrying value of approximately $5 million at December 31, 2011. This note matures in December 2012 with interest payable at a rate of EURIBOR plus 8.5%. Bunge has recognized interest income related to these notes receivable of approximately $2 million, $4 million and $1 million for the years ended December 31, 2011, 2010 and 2009, respectively, in interest income in its consolidated statements of income. Notes receivable at December 31, 2011 and 2010, with carrying values of $79 million and $90 million, respectively, are included in other current assets or other non-current assets in the consolidated balance sheets, according to payment terms. Notes payable—Bunge has a note payable with a carrying value of $7 million at December 31, 2011 and 2010, respectively, to a joint venture partner in one of its port terminals in Brazil. The real-denominated note is payable on demand with interest payable annually at the Brazilian interbank deposit rate (11.595% at December 31, 2011). This notes payable is included in other current liabilities in Bunge's consolidated balance sheets at December 31, 2011 and 2010. Bunge recorded interest expense of approximately $1 million, $1 million and $1 million in 2011, 2010 and 2009, respectively, related to this note. Other—Bunge purchased soybeans, other commodity products and phosphate-based products from certain of its unconsolidated joint ventures, which totaled $835 million, $525 million and $1,073 million for the years ended December 31, 2011, 2010 and 2009, respectively. Bunge also sold soybean and other commodity products to certain of these joint ventures, which totaled $452 million, $478 million, and $596 million for the years ended December 31, 2011, 2010 and 2009, respectively. At December 31, 2011 and 2010, Bunge had approximately $67 million and $69 million, respectively, of receivables from these joint ventures recorded in trade accounts receivable in the consolidated balance sheets as of those dates. In addition, at December 31, 2011 and 2010, Bunge had approximately $32 million and $42 million, respectively, of payables to these joint ventures recorded in trade accounts payable in the consolidated balance sheets. Bunge believes these transactions are recorded at values similar to those with third parties.

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- Definition The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 3A -Section 04 -Paragraph b Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 57 -Paragraph 1-4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 4 -Section 08 -Paragraph k Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864 + Details
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