v2.4.0.6
SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2013
SEGMENT INFORMATION  
Operating Segment Information

 

(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).

 
Reconciliation of total segment earnings before interest and tax to net income attributable to Bunge

 

 

 

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