| Operating Segment Information |
(US$ in millions)
|
|
|
|
|
Edible
|
|
|
|
|
|
|
|
Discontinued
|
|
|
|
|
Three Months Ended
|
|
|
|
Oil
|
|
Milling
|
|
Sugar and
|
|
|
|
Operations &
|
|
|
|
|
September 30, 2016
|
|
Agribusiness
|
|
Products
|
|
Products
|
|
Bioenergy
|
|
Fertilizer
|
|
Unallocated (1)
|
|
Total
|
|
|
Net sales to external customers
|
|
$
|
8,063
|
|
$
|
1,727
|
|
$
|
430
|
|
$
|
1,074
|
|
$
|
129
|
|
$
|
—
|
|
$
|
11,423
|
|
|
Inter–segment revenues
|
|
972
|
|
29
|
|
—
|
|
8
|
|
—
|
|
(1,009
|
)
|
—
|
|
|
Gross profit
|
|
266
|
|
117
|
|
89
|
|
67
|
|
17
|
|
—
|
|
556
|
|
|
Foreign exchange gains (losses)
|
|
(7
|
)
|
—
|
|
—
|
|
2
|
|
(1
|
)
|
—
|
|
(6
|
)
|
|
Noncontrolling interests (1)
|
|
(13
|
)
|
(2
|
)
|
—
|
|
—
|
|
(2
|
)
|
5
|
|
(12
|
)
|
|
Other income (expense) – net
|
|
11
|
|
(3
|
)
|
(1
|
)
|
(4
|
)
|
1
|
|
—
|
|
4
|
|
|
Segment EBIT (3)
|
|
83
|
|
34
|
|
52
|
|
35
|
|
9
|
|
—
|
|
213
|
|
|
Discontinued operations (5)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
5
|
|
5
|
|
|
Depreciation, depletion and amortization
|
|
(61
|
)
|
(24
|
)
|
(16
|
)
|
(45
|
)
|
(3
|
)
|
—
|
|
(149
|
)
|
|
Total assets
|
|
$
|
12,396
|
|
$
|
2,030
|
|
$
|
1,508
|
|
$
|
3,532
|
|
$
|
352
|
|
$
|
227
|
|
$
|
20,045
|
|
|
Three Months Ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales to external customers
|
|
$
|
7,718
|
|
$
|
1,659
|
|
$
|
375
|
|
$
|
891
|
|
$
|
119
|
|
$
|
—
|
|
$
|
10,762
|
|
|
Inter–segment revenues
|
|
999
|
|
44
|
|
—
|
|
9
|
|
—
|
|
(1,052
|
)
|
—
|
|
|
Gross profit
|
|
527
|
|
98
|
|
66
|
|
53
|
|
1
|
|
—
|
|
745
|
|
|
Foreign exchange gains (losses)
|
|
5
|
|
(4
|
)
|
(4
|
)
|
(23
|
)
|
2
|
|
—
|
|
(24
|
)
|
|
Noncontrolling interests (1)
|
|
5
|
|
(2
|
)
|
—
|
|
—
|
|
(1
|
)
|
3
|
|
5
|
|
|
Other income (expense) – net(2)
|
|
47
|
|
3
|
|
(1
|
)
|
(1
|
)
|
1
|
|
—
|
|
49
|
|
|
Segment EBIT (3)
|
|
369
|
|
13
|
|
32
|
|
3
|
|
(3
|
)
|
—
|
|
414
|
|
|
Discontinued operations (5)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
21
|
|
21
|
|
|
Depreciation, depletion and amortization
|
|
(58
|
)
|
(22
|
)
|
(10
|
)
|
(43
|
)
|
(3
|
)
|
—
|
|
(136
|
)
|
|
Total assets
|
|
$
|
12,669
|
|
$
|
1,975
|
|
$
|
1,037
|
|
$
|
2,219
|
|
$
|
358
|
|
$
|
181
|
|
$
|
18,439
|
|
|
|
|
|
|
Edible
|
|
|
|
|
|
|
|
Discontinued
|
|
|
|
|
Nine Months Ended
|
|
|
|
Oil
|
|
Milling
|
|
Sugar and
|
|
|
|
Operations &
|
|
|
|
|
September 30, 2016
|
|
Agribusiness
|
|
Products
|
|
Products
|
|
Bioenergy
|
|
Fertilizer
|
|
Unallocated (1)
|
|
Total
|
|
|
Net sales to external customers
|
|
$
|
21,870
|
|
$
|
4,958
|
|
$
|
1,243
|
|
$
|
2,541
|
|
$
|
268
|
|
$
|
—
|
|
$
|
30,880
|
|
|
Inter—segment revenues
|
|
2,822
|
|
80
|
|
1
|
|
10
|
|
—
|
|
(2,913
|
)
|
—
|
|
|
Gross profit
|
|
1,039
|
|
316
|
|
212
|
|
108
|
|
31
|
|
—
|
|
1,706
|
|
|
Foreign exchange gains (losses)
|
|
13
|
|
(2
|
)
|
(5
|
)
|
5
|
|
(2
|
)
|
—
|
|
9
|
|
|
Noncontrolling interests (1)
|
|
(13
|
)
|
(5
|
)
|
—
|
|
—
|
|
(2
|
)
|
12
|
|
(8
|
)
|
|
Other income (expense) – net
|
|
5
|
|
(4
|
)
|
(3
|
)
|
(13
|
)
|
1
|
|
—
|
|
(14
|
)
|
|
Segment EBIT (3) (4)
|
|
533
|
|
66
|
|
107
|
|
21
|
|
13
|
|
—
|
|
740
|
|
|
Discontinued operations (5)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
(8
|
)
|
(8
|
)
|
|
Depreciation, depletion and amortization
|
|
(174
|
)
|
(69
|
)
|
(47
|
)
|
(103
|
)
|
(9
|
)
|
—
|
|
(402
|
)
|
|
Total assets
|
|
$
|
12,396
|
|
$
|
2,030
|
|
$
|
1,508
|
|
$
|
3,532
|
|
$
|
352
|
|
$
|
227
|
|
$
|
20,045
|
|
|
Nine Months Ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales to external customers
|
|
$
|
23,373
|
|
$
|
4,974
|
|
$
|
1,230
|
|
$
|
2,519
|
|
$
|
254
|
|
$
|
—
|
|
$
|
32,350
|
|
|
Inter–segment revenues
|
|
2,570
|
|
126
|
|
36
|
|
12
|
|
—
|
|
(2,744
|
)
|
—
|
|
|
Gross profit
|
|
1,393
|
|
297
|
|
193
|
|
99
|
|
8
|
|
—
|
|
1,990
|
|
|
Foreign exchange gains (losses)
|
|
29
|
|
—
|
|
(8
|
)
|
(38
|
)
|
2
|
|
—
|
|
(15
|
)
|
|
Noncontrolling interests (1)
|
|
(6
|
)
|
(5
|
)
|
—
|
|
—
|
|
(1
|
)
|
13
|
|
1
|
|
|
Other income (expense) – net(2)
|
|
47
|
|
3
|
|
(3
|
)
|
(7
|
)
|
1
|
|
—
|
|
41
|
|
|
Segment EBIT (3) (4)
|
|
863
|
|
43
|
|
88
|
|
(32
|
)
|
(8
|
)
|
—
|
|
954
|
|
|
Discontinued operations (5)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
36
|
|
36
|
|
|
Depreciation, depletion and amortization
|
|
(173
|
)
|
(65
|
)
|
(33
|
)
|
(121
|
)
|
(11
|
)
|
—
|
|
(403
|
)
|
|
Total assets
|
|
$
|
12,669
|
|
$
|
1,975
|
|
$
|
1,037
|
|
$
|
2,219
|
|
$
|
358
|
|
$
|
181
|
|
$
|
18,439
|
|
|
(1)
| |
Includes noncontrolling interests share of interest and tax to reconcile to consolidated noncontrolling interest and discontinued operations of Brazilian fertilizer distribution business and certain asset management operations. |
|
(2)
| |
Includes a pre-tax gain of $47 million on the sale from certain Agribusiness grain assets in Canada. |
|
(3)
| |
Bunge uses total segment earnings before interest and taxes (“Total Segment EBIT”) to evaluate Bunge’s operating performance. Total Segment EBIT is the aggregate of each of our five reportable segments’ earnings before interest and taxes. Total Segment EBIT is a non-GAAP financial measure and is not intended to replace net income (loss) attributable to Bunge, the most directly comparable GAAP financial measure. Bunge’s management believes Total Segment EBIT is a useful measure of its reportable segments’ operating profitability, since the measure allows for an evaluation of segment performance without regard to its financing methods or capital structure. For this reason, operating performance measures such as Total Segment EBIT are widely used by analysts and investors in Bunge’s industries. Total Segment EBIT is not a measure of consolidated operating results under U.S. GAAP and should not be considered as an alternative to net income (loss) or any other measure of consolidated operating results under U.S. GAAP. |
|
(4)
| |
Includes a pre-tax, non-cash impairment charge of $12 million in other income (expense) - net recorded in the second quarter of 2016, related to intangible assets of certain patents of intellectual property. Includes a pre-tax, non-cash impairment charge of $15 million in cost of goods sold recorded in the second quarter of 2015, related to the announced closure of Bunge’s oil packaging plant in the United States. |
|
(5)
| |
Represents net income (loss) from discontinued operations. |
|