v2.4.0.6

SEGMENT INFORMATION | 3 Months Ended
--- | ---
Mar. 31, 2013
SEGMENT INFORMATION |
SEGMENT INFORMATION | 18. SEGMENT INFORMATION Bunge has five reportable segments—agribusiness, sugar and bioenergy, edible oil products, milling products and fertilizer—which are organized based upon similar economic characteristics and are similar in nature of products and services offered, the nature of production processes, the type and class of customer and distribution methods. The agribusiness segment is characterized by both inputs and outputs being agricultural commodities and thus high volume and low margin. The sugar and bioenergy segment involves sugarcane growing and milling in Brazil, sugar merchandising in various countries, as well as sugarcane-based ethanol production and corn-based ethanol investments and related activities. The edible oil products segment involves the manufacturing and marketing of products derived from vegetable oils. The milling products segment involves the manufacturing and marketing of products derived primarily from wheat and corn. Following the classification of the Brazilian fertilizer distribution and North American fertilizer businesses as discontinued operations (see Note 4), the activities of the fertilizer segment include its port operations in Brazil and its operations in Argentina. Additionally, Bunge has retained its 50% interest in its fertilizer joint venture in Morocco. The “Discontinued Operations & Unallocated” column in the following table contains the reconciliation between the totals for reportable segments and Bunge consolidated totals, which consist primarily of amounts attributable to discontinued operations, corporate items not allocated to the operating segments and inter-segment eliminations. Transfers between the segments are generally valued at market. The revenues generated from these transfers are shown in the following table as “Inter-segment revenues segments or inter-segment eliminations.” (US$ in millions)
|  |  |  |  |  | Edible |  |  |  |  |  | Discontinued |  |  |
Three Months Ended |  |  |  | Sugar and |  | Oil |  | Milling |  |  |  | Operations & |  |  |
March 31, 2013 |  | Agribusiness |  | Bioenergy |  | Products |  | Products |  | Fertilizer |  | Unallocated (1) |  | Total |
Net sales to external customers |  | $ | 10,774 |  | $ | 1,113 |  | $ | 2,297 |  | $ | 535 |  | $ | 66 |  | $ | — |  | $ | 14,785 |
Inter—segment revenues |  | 1,417 |  | — |  | 20 |  | — |  | 9 |  | (1,446 | ) | — |
Gross profit |  | 398 |  | 57 |  | 116 |  | 63 |  | 13 |  | — |  | 647 |
Foreign exchange gains (losses) |  | (41 | ) | 3 |  | (1 | ) | — |  | (1 | ) | — |  | (40 | )
Noncontrolling interests (1) |  | 26 |  | 1 |  | — |  | — |  | (1 | ) | 6 |  | 32 |
Other income (expense) — net |  | (3 | ) | (1 | ) | 8 |  | 6 |  | 29 |  | — |  | 39 |
Segment EBIT (2) |  | 191 |  | 23 |  | 38 |  | 36 |  | 35 |  | — |  | 323 |
Discontinued operations (3) |  | — |  | — |  | — |  | — |  | — |  | (9 | ) | (9 | )
Depreciation, depletion and amortization |  | (60 | ) | (26 | ) | (24 | ) | (7 | ) | (4 | ) | — |  | (121 | )
Total assets |  | 20,266 |  | 4,064 |  | 2,655 |  | 976 |  | 940 |  | 998 |  | 29,899 |
Three Months Ended March 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 9,317 |  | $ | 881 |  | $ | 2,221 |  | $ | 427 |  | $ | 63 |  | $ | — |  | $ | 12,909 |
Inter—segment revenues |  | 1,060 |  | — |  | 31 |  | — |  | 17 |  | (1,108 | ) | — |
Gross profit |  | 352 |  | 8 |  | 113 |  | 56 |  | 8 |  | — |  | 537 |
Foreign exchange gains (losses) |  | 54 |  | 5 |  | (1 | ) | — |  | — |  | — |  | 58 |
Noncontrolling interests (1) |  | (2 | ) | 1 |  | — |  | — |  | — |  | 4 |  | 3 |
Other income (expense) — net |  | 7 |  | (3 | ) | 2 |  | 2 |  | (9 | ) | — |  | (1 | )
Segment EBIT (2) |  | 197 |  | (33 | ) | 21 |  | 27 |  | (12 | ) | — |  | 200 |
Discontinued operations (3) |  | — |  | — |  | — |  | — |  | — |  | (35 | ) | (35 | )
Depreciation, depletion and amortization |  | (49 | ) | (27 | ) | (24 | ) | (7 | ) | (4 | ) | — |  | (111 | )
Total assets |  | 15,824 |  | 3,983 |  | 2,842 |  | 689 |  | 2,458 |  | — |  | 25,796 |
(1) Includes noncontrolling interests share of interest and tax to reconcile to consolidated noncontrolling interest. (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) Represents net income (loss) from discontinued operations (see Note 4). A reconciliation of total segment EBIT to net income attributable to Bunge follows:
|  | Three Months Ended |
|  | March 31, |
(US$ in millions) |  | 2013 |  | 2012 |
Total segment EBIT from continuing operations |  | $ | 323 |  | $ | 200 |
Interest income |  | 9 |  | 25 |
Interest expense |  | (76 | ) | (62 | )
Income tax (expense) benefit |  | (73 | ) | (40 | )
Income (loss) from discontinued operations, net of tax |  | (9 | ) | (35 | )
Noncontrolling interests’ share of interest and tax |  | 6 |  | 4 |
Net income attributable to Bunge |  | $ | 180 |  | $ | 92 |
Cautionary Statement Regarding Forward Looking Statements This report contains both historical and forward looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act). These forward looking statements are not based on historical facts, but rather reflect our current expectations and projections about our future results, performance, prospects and opportunities. We have tried to identify these forward looking statements by using words including “may,” “will,” “should,” “could,” “expect,” “anticipate,” “believe,” “plan,” “intend,” “estimate,” “continue” and similar expressions. These forward looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward looking statements. The following important factors, among others, could affect our business and financial performance, industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products used in our business, fluctuations in energy and freight costs and competitive developments in our industries; the effects of weather conditions and the outbreak of crop and animal disease on our business; global and regional agricultural, economic, financial and commodities market, political, social and health conditions; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and benefit from acquisitions, dispositions, joint ventures and strategic alliances; our ability to achieve the efficiencies, savings and other benefits anticipated from our cost reduction, margin improvement and other business optimization initiatives; changes in government policies, laws and regulations affecting our business, including agricultural and trade policies, tax regulations and biofuels legislation; and other factors affecting our business generally. The forward looking statements included in this report are made only as of the date of this report, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward looking statements to reflect subsequent events or circumstances. You should refer to “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2012, filed with the SEC on March 1, 2013, and “Part II — Item 1A. Risk Factors” in this Quarterly Report on Form 10-Q for a more detailed discussion of these factors.

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -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 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration