v3.7.0.1
SEGMENT INFORMATION (Tables)
6 Months Ended
Jun. 30, 2017
SEGMENT INFORMATION  
Operating Segment Information

(US$ in millions)

 

 

 

 

 

Edible

 

 

 

 

 

 

 

Discontinued

 

 

 

Three Months Ended

 

 

 

Oil

 

Milling

 

Sugar and

 

 

 

Operations &

 

 

 

June 30, 2017

 

Agribusiness

 

Products

 

Products

 

Bioenergy

 

Fertilizer

 

Unallocated (1)

 

Total

 

Net sales to external customers

 

$

8,298

 

$

1,970

 

$

390

 

$

906

 

$

81

 

$

 

$

11,645

 

Inter—segment revenues

 

1,027

 

32

 

 

 

 

(1,059

)

 

Foreign exchange gains (losses)

 

43

 

1

 

(1

)

4

 

4

 

 

51

 

Noncontrolling interests (1)

 

(5

)

(1

)

 

 

(1

)

1

 

(6

)

Other income (expense) — net

 

1

 

3

 

1

 

(3

)

 

 

2

 

Segment EBIT (2)

 

18

 

28

 

16

 

8

 

3

 

 

73

 

Discontinued operations (3)

 

 

 

 

 

 

6

 

6

 

Depreciation, depletion and amortization

 

(66

)

(26

)

(15

)

(42

)

(3

)

 

(152

)

Total assets

 

$

12,941

 

$

2,406

 

$

1,530

 

$

3,032

 

$

344

 

$

180

 

$

20,433

 

 

 

Three Months Ended
June 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

7,524

 

$

1,705

 

$

422

 

$

809

 

$

81

 

$

 

$

10,541

 

Inter—segment revenues

 

991

 

25

 

1

 

2

 

 

(1,019

)

 

Foreign exchange gains (losses)

 

(4

)

(1

)

(4

)

3

 

 

 

(6

)

Noncontrolling interests (1)

 

(2

)

(1

)

 

 

 

4

 

1

 

Other income (expense) — net

 

(9

)

 

 

(4

)

 

 

(13

)

Segment EBIT (2)

 

168

 

2

 

33

 

 

2

 

 

205

 

Discontinued operations (3)

 

 

 

 

 

 

(4

)

(4

)

Depreciation, depletion and amortization

 

(59

)

(23

)

(17

)

(39

)

(3

)

 

(141

)

Total assets

 

$

14,655

 

$

2,013

 

$

1,503

 

$

3,410

 

$

330

 

$

184

 

$

22,095

 

 

 

 

 

 

 

Edible

 

 

 

 

 

 

 

Discontinued

 

 

 

Six Months Ended

 

 

 

Oil

 

Milling

 

Sugar and

 

 

 

Operations &

 

 

 

June 30, 2017

 

Agribusiness

 

Products

 

Products

 

Bioenergy

 

Fertilizer

 

Unallocated (1)

 

Total

 

Net sales to external customers

 

$

16,117

 

$

3,850

 

$

772

 

$

1,894

 

$

133

 

$

 

$

22,766

 

Inter—segment revenues

 

2,040

 

70

 

5

 

 

 

(2,115

)

 

Foreign exchange gains (losses)

 

92

 

4

 

(1

)

9

 

3

 

 

107

 

Noncontrolling interests (1)

 

(5

)

(3

)

 

 

(1

)

2

 

(7

)

Other income (expense) — net

 

4

 

1

 

(1

)

(5

)

 

 

(1

)

Segment EBIT (2)

 

127

 

64

 

25

 

(9

)

(1

)

 

206

 

Discontinued operations (3)

 

 

 

 

 

 

 

 

Depreciation, depletion and amortization

 

(127

)

(50

)

(30

)

(69

)

(6

)

 

(282

)

Total assets

 

$

12,941

 

$

2,406

 

$

1,530

 

$

3,032

 

$

344

 

$

180

 

$

20,433

 

 

 

Six Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

13,807

 

$

3,231

 

$

813

 

$

1,467

 

$

139

 

$

 

$

19,457

 

Inter—segment revenues

 

1,849

 

51

 

1

 

2

 

 

(1,903

)

 

Foreign exchange gains (losses)

 

20

 

(2

)

(5

)

3

 

(1

)

 

15

 

Noncontrolling interests (1)

 

 

(3

)

 

 

 

7

 

4

 

Other income (expense) — net

 

(6

)

(1

)

(2

)

(9

)

 

 

(18

)

Segment EBIT (2)

 

450

 

32

 

55

 

(14

)

4

 

 

527

 

Discontinued operations (3)

 

 

 

 

 

 

(13

)

(13

)

Depreciation, depletion and amortization

 

(114

)

(45

)

(31

)

(58

)

(6

)

 

(254

)

Total assets

 

$

14,655

 

$

2,013

 

$

1,503

 

$

3,410

 

$

330

 

$

184

 

$

22,095

 

 

(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

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

(US$ in millions)

 

2017

 

2016

 

2017

 

2016

 

Total Segment EBIT from continuing operations

 

$

73

 

$

205

 

$

206

 

$

527

 

Interest income

 

8

 

14

 

20

 

24

 

Interest expense

 

(62

)

(59

)

(127

)

(116

)

Income tax (expense) benefit

 

55

 

(39

)

27

 

(73

)

Income (loss) from discontinued operations, net of tax

 

6

 

(4

)

 

(13

)

Noncontrolling interests’ share of interest and tax

 

1

 

4

 

2

 

7

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Bunge

 

$

81

 

$

121

 

$

128

 

$

356