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REDEEMABLE NONCONTROLLING INTEREST | 9 Months Ended
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Sep. 30, 2012
REDEEMABLE NONCONTROLLING INTEREST |
REDEEMABLE NONCONTROLLING INTEREST |
18. REDEEMABLE NONCONTROLLING INTEREST In July 2012, Bunge acquired a controlling interest in a newly formed oilseed processing venture in Europe (see Note 3). As part of the transaction Bunge entered into a variable price put arrangement subject to a floor and ceiling price, whereby the noncontrolling interest holder can require the Company to acquire the remaining shares of the operation during specific option exercise periods from April to May 2016, 2017 and 2018, respectively. Bunge has elected to accrete the changes in the redemption value through additional paid-in capital over the period from the date of issuance to the earliest redemption date following the interest method. At September 30, 2012, $38 million is included in redeemable noncontrolling interest in the condensed consolidated balance sheets. The difference between redemption value and carrying amount was insignificant. In May 2012, Bunge acquired a controlling interest in a wheat mill and bakery mix operation (see Note 3) and, as part of the transaction, Bunge entered into a variable price put arrangement whereby the noncontrolling interest holder can require Bunge to acquire the remaining shares of the operation on or after May 4, 2015. At September 30, 2012, $9 million is included as redeemable noncontrolling interest in Bunge’s condensed consolidated balance sheets. Bunge has elected to record the variable price put at fair value with any excess of the redemption value over carrying value adjusted through a charge to additional paid-in capital. The calculation of the fair value of the variable price put (a Level 3 measurement) is determined by using an undiscounted cash flow analysis based on the Company’s forecasts.

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