v3.7.0.1
SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2017
SEGMENT INFORMATION  
Operating Segment Information

(US$ in millions)

 

 

 

 

 

Edible

 

 

 

 

 

 

 

Discontinued

 

 

 

Three Months Ended

 

 

 

Oil

 

Milling

 

Sugar and

 

 

 

Operations &

 

 

 

March 31, 2017

 

Agribusiness

 

Products

 

Products

 

Bioenergy

 

Fertilizer

 

Unallocated (1)

 

Total

 

Net sales to external customers

 

$
7,819

 

$
1,880

 

$
382

 

$
988

 

$
52

 

$

—

 

$
11,121

 

Inter—segment revenues

 
1,012

 
38

 
5

 

—

 

—

 
(1,055

)

—

 

Foreign exchange gains (losses)

 
49

 
3

 

—

 
5

 
(1

)

—

 
56

 

Noncontrolling interests (1)

 

—

 
(2

)

—

 

—

 

—

 
1

 
(1

)

Other income (expense) — net

 
3

 
(2

)
(2

)
(2

)

—

 

—

 
(3

)

Segment EBIT (2)

 
109

 
36

 
9

 
(17

)
(4

)

—

 
133

 

Discontinued operations (3)

 

—

 

—

 

—

 

—

 

—

 
(6

)
(6

)

Depreciation, depletion and amortization

 
(61

)
(24

)
(15

)
(27

)
(3

)

—

 
(130

)

Total assets

 
13,303

 
2,418

 
1,535

 
2,819

 
358

 
187

 
20,620

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$
6,283

 

$
1,526

 

$
391

 

$
658

 

$
58

 

$

—

 

$
8,916

 

Inter—segment revenues

 
857

 
26

 

—

 
1

 

—

 
(884

)

—

 

Foreign exchange gains (losses)

 
24

 
(1

)
(1

)

—

 
(1

)

—

 
21

 

Noncontrolling interests (1)

 
2

 
(2

)

—

 

—

 

—

 
3

 
3

 

Other income (expense) — net

 
3

 
(1

)
(2

)
(5

)

—

 

—

 
(5

)

Segment EBIT (2)

 
282

 
30

 
22

 
(14

)
2

 

—

 
322

 

Discontinued operations (3)

 

—

 

—

 

—

 

—

 

—

 
(9

)
(9

)

Depreciation, depletion and amortization

 
(55

)
(22

)
(14

)
(19

)
(3

)

—

 
(113

)

Total assets

 
12,671

 
1,998

 
1,444

 
2,357

 
292

 
177

 
18,939

 

 

 

(1)

Includes noncontrolling interests share of interest and tax to reconcile to consolidated noncontrolling interest.

 

(2)

Total segment earnings before interest and taxes (“EBIT”) is an operating performance measure used by Bunge’s management to evaluate segment operating activities.  Bunge’s management believes total segment EBIT is a useful measure of operating profitability, since the measure allows for an evaluation of the performance of its segments without regard to its financing methods or capital structure.  In addition, EBIT is a financial measure that is widely used by analysts and investors in Bunge’s industry.

 

(3)

Represents net income (loss) from discontinued operations.

 

Reconciliation of total segment EBIT to net income attributable to Bunge

 

 

Three Months Ended

 

 

 

March 31,

 

(US$ in millions)

 

2017

 

2016

 

Total segment EBIT from continuing operations

 

$
133

 

$
322

 

Interest income

 
12

 
10

 

Interest expense

 
(65

)
(57

)

Income tax (expense) benefit

 
(28

)
(34

)

Income (loss) from discontinued operations, net of tax

 
(6

)
(9

)

Noncontrolling interests’ share of interest and tax

 
1

 
3

 

 

 

 

 

 

 

Net income attributable to Bunge

 

$
47

 

$
235