v3.5.0.2
COMMITMENTS AND CONTINGENCIES (TABLES)
 6 Months Ended
Jun. 30, 2016
COMMITMENTS AND CONTINGENCIES  
Liabilities related to general claims and lawsuits included in other non-current liabilities

 

 

 

June 30,

 

December 31,

 

(US$ in millions)

 

2016

 

2015

 

Tax claims

 

$
205 

 

$
163 

 

Labor claims

 
87 

 
75 

 

Civil and other claims

 
90 

 
78 

 

 

 

 

 

 

 

Total

 

$
382 

 

$
316 

 

 

 

 

 

 

 

 

 

 

Maximum potential future payments related to guarantees

 

Bunge has issued or was a party to the following guarantees at June 30, 2016:

 

 

 

Maximum

 

 

 

Potential

 

 

 

Future

 

(US$ in millions)

 

Payments

 

Unconsolidated affiliates financing (1)

 

$
66 

 

Residual value guarantee (2)

 
154 

 

 

 

 

 

Total

 

$
220 

 

 

 

 

 

 

 

 

(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 2016 through 2019. There are no recourse provisions or collateral that would enable Bunge to recover any amounts paid under these guarantees. At June 30, 2016, Bunge recorded no 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 2020. At June 30, 2016, Bunge’s recorded obligation related to these guarantees was $4 million.