12. OTHER NON-CURRENT ASSETS

Other non-current assets consist of the following:

(US$ in millions)	December 31, 2015		December 31, 2014
Recoverable taxes, net(1)	$	133	$	337
Judicial deposits(1)		119		159
Other long-term receivables		23		40
Income taxes receivable(1)		195		188
Long-term investments		49		263
Affiliate loans receivable, net		15		18
Long-term receivables from farmers in Brazil, net(1)		117		102
Other		129		154

Total	$	780	$	1,261

(1)These non-current assets arise primarily from Bunge's Brazilian operations and their realization could take in excess of five years.

Recoverable taxes, net—Recoverable taxes are reported net of valuation allowances of $20 million and $31 million at December 31, 2015 and 2014, respectively.

Judicial deposits—Judicial deposits are funds that Bunge has placed on deposit with the courts in Brazil. These funds are held in judicial escrow relating to certain legal proceedings pending legal resolution and bear interest at the SELIC rate, which is the benchmark rate of the Brazilian central bank.

Income taxes receivable—Income taxes receivable includes overpayments of current income taxes plus accrued interest. These income tax prepayments are expected to be utilized for settlement of future income tax obligations. Income taxes receivable in Brazil bear interest at the SELIC rate.

Long-term investments—Long-term investments represent primarily investments held by certain managed investment funds, which are included in Bunge's consolidated financial statements. The consolidated funds are, for U.S. GAAP purposes, investment companies and therefore are not required to consolidate their majority owned and controlled investments. Bunge reflects these investments at fair value. The fair value of these investments (a Level 3 measurement) is nil and $208 million at December 31, 2015 and 2014, respectively. The decline of these investments is a result of the discontinuance of Bunge's asset management activities. At December 31, 2015 Bunge expects that certain of the investments in these investment funds will be sold in the next twelve months and as such they have been reclassified to current in the consolidated balance sheet.

Affiliate loans receivable, net—Affiliate loans receivable, net is primarily interest bearing receivables from unconsolidated affiliates with an initial maturity of greater than one year.

Long-term receivables from farmers in Brazil, net—Bunge provides financing to farmers in Brazil, primarily through secured advances against farmer commitments to deliver agricultural commodities (primarily soybeans) upon harvest of the then-current year's crop and through credit sales of fertilizer to farmers.

The table below summarizes Bunge's recorded investment in long-term receivables from farmers in Brazil.

	December 31,
(US$ in millions)	2015		2014
Legal collection process(1)	$	119	$	179
Renegotiated amounts(2)		58		76
Other long-term receivables		40		—

Total	$	217	$	255

(1)All amounts in legal process are considered past due upon initiation of legal action.

(2)All renegotiated amounts are current on repayment terms.

The average recorded investment in long-term receivables from farmers in Brazil for the years ended December 31, 2015 and 2014 was $214 million and $289 million, respectively. The table below summarizes Bunge's recorded investment in long-term receivables from farmers in Brazil and the related allowance amounts.

	December 31, 2015				December 31, 2014
(US$ in millions)	Recorded Investment		Allowance		Recorded Investment		Allowance
For which an allowance has been provided:
Legal collection process	$	78	$	69	$	164	$	103
Renegotiated amounts		37		31		65		50
For which no allowance has been provided:
Legal collection process		41		—		15		—
Renegotiated amounts		21		—		11		—
Other long-term receivables		40		—		—		—

Total	$	217	$	100	$	255	$	153

The table below summarizes the activity in the allowance for doubtful accounts related to long-term receivables from farmers in Brazil.

	December 31,
(US$ in millions)	2015			2014
Beginning balance	$	153		$	196
Bad debt provisions		11			11
Recoveries		(20	)		(23	)
Write-offs		(2	)		(22	)
Transfers(1)		5			10
Foreign exchange translation		(47	)		(19	)

Ending balance	$	100		$	153

(1)Represents reclassifications from allowance for doubtful accounts-current for secured advances to suppliers.