v3.5.0.2

OTHER NON-CURRENT ASSETS | 9 Months Ended
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Sep. 30, 2016
OTHER NON-CURRENT ASSETS |
OTHER NON-CURRENT ASSETS | 7. OTHER NON-CURRENT ASSETS Other non-current assets consist of the following:
|  | September 30, |  | December 31, |
(US$ in millions) |  | 2016 |  | 2015 |
Recoverable taxes, net (1) |  | $ | 166 |  | $ | 133 |
Judicial deposits (1) |  | 139 |  | 119 |
Other long-term receivables |  | 19 |  | 23 |
Income taxes receivable (1) |  | 227 |  | 195 |
Long-term investments |  | 53 |  | 49 |
Affiliate loans receivable, net |  | 22 |  | 15 |
Long-term receivables from farmers in Brazil, net (1) |  | 125 |  | 117 |
Other |  | 148 |  | 121 |
Total |  | $ | 899 |  | $ | 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 $20 million at September 30, 2016 and December 31, 2015, respectively. Judicial deposits - Judicial deposits are funds that Bunge has placed on deposit with the courts in Brazil. These funds are held in judicial escrow relating to certain legal proceedings pending legal resolution and bear interest at the SELIC rate, which is the benchmark rate of the Brazilian central bank. Income taxes receivable - Income taxes receivable includes overpayments of current income taxes plus accrued interest. These income tax prepayments are expected to be utilized for settlement of future income tax obligations. Income taxes receivable in Brazil bear interest at the SELIC rate. Affiliate loans receivable, net - Affiliate loans receivable, net is primarily interest bearing receivables from unconsolidated affiliates with an initial maturity of greater than one year. Long-term receivables from farmers in Brazil, net - Bunge provides financing to farmers in Brazil, primarily through secured advances against farmer commitments to deliver agricultural commodities (primarily soybeans) upon harvest of the then-current year’s crop. The table below summarizes Bunge’s gross investment in long-term receivables from farmers in Brazil.
|  | September 30, |  | December 31, |
(US$ in millions) |  | 2016 |  | 2015 |
Legal collection process (1) |  | $ | 153 |  | $ | 119 |
Renegotiated amounts (2) |  | 48 |  | 58 |
Other long-term receivables |  | 33 |  | 40 |
Total |  | $ | 234 |  | $ | 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 gross investment in long-term receivables from farmers in Brazil for the nine months ended September 30, 2016 and the year ended December 31, 2015 was $234 million and $214 million, respectively. The table below summarizes Bunge’s gross investment in long-term receivables from farmers in Brazil and the related allowance amounts.
|  | September 30, 2016 |  | December 31, 2015 |
|  | Gross |  |  |  | Gross |  |  |
(US$ in millions) |  | Investment |  | Allowance |  | Investment |  | Allowance |
For which an allowance has been provided: |  |  |  |  |  |  |  |  |
Legal collection process |  | $ | 92 |  | $ | 81 |  | $ | 78 |  | $ | 69 |
Renegotiated amounts |  | 33 |  | 28 |  | 37 |  | 31 |
For which no allowance has been provided: |  |  |  |  |  |  |  |  |
Legal collection process |  | 61 |  | — |  | 41 |  | — |
Renegotiated amounts |  | 15 |  | — |  | 21 |  | — |
Other long-term receivables |  | 33 |  | — |  | 40 |  | — |
Total |  | $ | 234 |  | $ | 109 |  | $ | 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 |  | Nine Months Ended |
|  | September 30, |  | September 30, |
(US$ in millions) |  | 2016 |  | 2015 |  | 2016 |  | 2015 |
Beginning balance |  | $ | 111 |  | $ | 127 |  | $ | 100 |  | $ | 153 |
Bad debt provisions |  | — |  | 1 |  | 1 |  | 6 |
Recoveries |  | (2 | ) | (4 | ) | (11 | ) | (18 | )
Write-offs |  | — |  | (1 | ) | — |  | (1 | )
Transfers (1) |  | 1 |  | — |  | 1 |  | 5 |
Foreign exchange translation |  | (1 | ) | (27 | ) | 18 |  | (49 | )
Ending balance |  | $ | 109 |  | $ | 96 |  | $ | 109 |  | $ | 96 |
| (1) |  | Represents reclassifications from allowance for doubtful accounts-current for secured advances to suppliers.

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