7.OTHER NON-CURRENT ASSETS

Other non-current assets consist of the following:

	June 30,		December 31,
(US$ in millions)	2016		2015
Recoverable taxes, net (1)	$	277	$	133
Judicial deposits (1)	141		119
Other long-term receivables	26		23
Income taxes receivable (1)	309		195
Long-term investments	53		49
Affiliate loans receivable, net	21		15
Long-term receivables from farmers in Brazil, net (1)	124		117
Other	138		121

Total	$	1,089	$	772

⁽¹⁾

These non-current assets arise primarily from Bunge’s Brazilian operations and recovery of these amounts could take in excess of five years.

Recoverable taxes, net - Recoverable taxes are reported net of valuation allowances of $34 million and $20 million at June 30, 2016 and December 31, 2015, 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.

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.

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

	June 30,		December 31,
(US$ in millions)	2016		2015
Legal collection process (1)	$	158	$	119
Renegotiated amounts (2)	47		58
Other long-term receivables	30		40

Total	$	235	$	217

⁽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 six months ended June 30, 2016 and the year ended December 31, 2015 was $235 million and $214 million, respectively. The table below summarizes Bunge’s recorded investment in long-term receivables from farmers in Brazil and the related allowance amounts.

	June 30, 2016				December 31, 2015
	Recorded				Recorded
(US$ in millions)	Investment		Allowance		Investment		Allowance
For which an allowance has been provided:
Legal collection process	$	95	$	84	$	78	$	69
Renegotiated amounts	35		27		37		31
For which no allowance has been provided:
Legal collection process	63		—		41		—
Renegotiated amounts	12		—		21		—
Other long-term receivables	30		—		40		—

Total	$	235	$	111	$	217	$	100

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

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(US$ in millions)	2016			2015			2016			2015
Beginning balance	$	108		$	131		$	100		$	153
Bad debt provisions	1			4			1			5
Recoveries	(9		)	(12		)	(9		)	(14		)
Transfers (1)	—			—			—			4
Foreign exchange translation	11			4			19			(21		)

Ending balance	$	111		$	127		$	111		$	127

⁽¹⁾

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