v3.3.1.900
OTHER CURRENT ASSETS (TABLES)
12 Months Ended
Dec. 31, 2015
OTHER CURRENT ASSETS  
Other current assets

 

                                                                                                                                                                                    

(US$ in millions)

 

December 31,
2015

 

December 31,
2014

 

Prepaid commodity purchase contracts(1)

 

$

287 

 

$

153 

 

Secured advances to suppliers, net(2)

 

 

521 

 

 

520 

 

Unrealized gains on derivative contracts, at fair value

 

 

1,456 

 

 

1,569 

 

Recoverable taxes, net

 

 

364 

 

 

349 

 

Margin deposits

 

 

467 

 

 

323 

 

Marketable securities, at fair value and other short-term investments

 

 

234 

 

 

230 

 

Deferred purchase price receivable, at fair value(3)

 

 

79 

 

 

78 

 

Prepaid expenses

 

 

132 

 

 

183 

 

Other

 

 

359 

 

 

400 

 

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​  

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Total

 

$

3,899 

 

$

3,805 

 

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(1)Prepaid commodity purchase contracts represent advance payments against fixed price contracts for future delivery of specified quantities of agricultural commodities.

(2)Bunge provides cash advances to suppliers, primarily Brazilian farmers of soybeans and sugarcane, to finance a portion of the suppliers' production costs. Bunge does not bear any of the costs or risks associated with the related growing crops. The advances are largely collateralized by future crops and physical assets of the suppliers, carry a local market interest rate and settle when the farmer's crop is harvested and sold. The secured advances to farmers are reported net of allowances of $2 million and $2 million at December 31, 2015 and December 31, 2014, respectively. There were no significant changes in the allowance for 2015. Changes in the allowance for 2014 included primarily a reduction in the allowance resulting from recoveries of $7 million and reclassifications to long-term of $8 million.

Interest earned on secured advances to suppliers of $38 million, $37 million and $32 million, respectively, for the years ended December 31, 2015, 2014 and 2013, respectively, is included in net sales in the consolidated statements of income.

(3)Deferred purchase price receivable represents additional credit support for the investment conduits in Bunge's accounts receivables sales program (see Note 18).

 

 

Summary of marketable securities and short-term investments

 

                                                                                                                                                                                    

(US$ in millions)

 

December 31,
2015

 

December 31,
2014

 

Foreign government securities

 

$

61 

 

$

137 

 

Corporate debt securities

 

 

92 

 

 

25 

 

Certificate of deposits/time deposits

 

 

55 

 

 

46 

 

Other

 

 

26 

 

 

22 

 

​  

​  

​  

​  

Total marketable securities and other short-term investments

 

$

234 

 

$

230 

 

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