7. OTHER NON-CURRENT ASSETS

Other non-current assets consist of the following:

	March 31,		December 31,
(US$ in millions)	2017		2016
Recoverable taxes, net (1)	$	155	$	139
Judicial deposits (1)	139		129
Other long-term receivables	26		23
Income taxes receivable (1)	271		261
Long-term investments	62		54
Affiliate loans receivable	27		25
Long-term receivables from farmers in Brazil, net (1)	146		133
Other	175		163

Total	$	1,001	$	927

(1)

These non-current assets arise primarily from Bunge’s Brazilian operations and their realization could take several years.

Recoverable taxes, net-Recoverable taxes are reported net of allowances of $27 million and $32 million at March 31, 2017 and December 31, 2016, 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 primarily utilized for settlement of future income tax obligations. Income taxes receivable in Brazil bear interest at the SELIC rate.

Affiliate loans receivable-Affiliate loans receivable are primarily interest bearing receivables from unconsolidated affiliates with a remaining maturity of greater than one year.

Long-term receivables from farmers in Brazil, net of reserves-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 and through credit sales of fertilizer to farmers.

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

	March 31,		December 31,
(US$ in millions)	2017		2016
Legal collection process (1)	$	150	$	144
Renegotiated amounts (2)	62		52
Other long-term receivables	45		46

Total	$	257	$	242

(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 three months ended March 31, 2017 and the year ended December 31, 2016 was $255 million and $235 million, respectively. The table below summarizes Bunge’s recorded investment in long-term receivables from farmers in Brazil and the related allowance amounts.

	March 31, 2017				December 31, 2016
	Recorded				Recorded
(US$ in millions)	Investment		Allowance		Investment		Allowance
For which an allowance has been provided:
Legal collection process	$	84	$	82	$	84	$	78
Renegotiated amounts	29		29		36		31
For which no allowance has been provided:
Legal collection process	66		—		60		—
Renegotiated amounts	33		—		16		—
Other long-term receivables	45		—		46		—

Total	$	257	$	111	$	242	$	109

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

	Three Months Ended
	March 31,
(US$ in millions)	2017			2016
Beginning balance	$	109		$	100
Bad debt provisions	1			—
Recoveries	(2		)	—
Foreign exchange translation	3			8

Ending balance	$	111		$	108