v3.3.1.900
COMMITMENTS AND CONTINGENCIES (Tables)
 9 Months Ended
Sep. 30, 2015
COMMITMENTS AND CONTINGENCIES  
Liabilities related to general claims and lawsuits included in other non-current liabilities

 

 

 

September 30,

 

December 31,

 

(US$ in millions)

 

2015

 

2014

 

Tax claims

 

$
159 

 

$
225 

 

Labor claims

 
69 

 
86 

 

Civil and other claims

 
92 

 
107 

 

 

 

 

 

 

 

Total

 

$
320 

 

$
418 

 

 

 

 

 

 

 

 

 

 

Maximum potential future payments related to guarantees

 

 

 

Maximum

 

 

 

Potential

 

 

 

Future

 

(US$ in millions)

 

Payments

 

Unconsolidated affiliates financing (1)

 

$
70 

 

Residual value guarantee (2)

 
149 

 

 

 

 

 

Total

 

$
219 

 

 

 

 

 

 

 

(1)

Bunge issued guarantees to certain financial institutions related to debt of certain of its unconsolidated joint ventures. The terms of the guarantees are equal to the terms of the related financings which have maturity dates in 2015 through 2018. There are no recourse provisions or collateral that would enable Bunge to recover any amounts paid under these guarantees. At September 30, 2015, Bunge had no outstanding recorded obligation related to these guarantees.

 

(2)

Bunge issued guarantees to certain financial institutions which are party to certain operating lease arrangements for railcars and barges. These guarantees provide for a minimum residual value to be received by the lessor at conclusion of the lease term. These leases expire at various dates from 2016 through 2019. At September 30, 2015, Bunge’s recorded obligation related to these guarantees was $5 million.