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GLOBAL COMPETITIVENESS PROGRAM | 9 Months Ended
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Sep. 30, 2017
Restructuring and Related Activities [Abstract] |
GLOBAL COMPETITIVENESS PROGRAM | GLOBAL COMPETITIVENESS PROGRAM In July 2017, Bunge announced a global competitiveness program (“GCP”) to improve its cost position and deliver increased value to shareholders. The GCP will, among other things, rationalize Bunge’s cost structure and reengineer the way the company operates in order to reduce overhead costs. One of the GCP’s key objectives will be to streamline processes and consolidate back office functions to improve efficiency and scalability. The GCP will comprise restructuring initiatives that may include the sale or disposal of long-lived assets, reduction of workforce and rationalization of certain investments. As Bunge continues to review its opportunities, certain charges may be recorded in earnings, including severance and other employee benefit costs, other costs related to the disposal of assets or investments and costs related to professional services. The table below sets forth, by segment, the types of costs recorded for the GCP during the three and nine months ended September 30, 2017.
| Severance and Other |  | Disposal of Assets |  | Professional |  | Total
(US$ in millions) | Employee Benefit Costs | or Investments | Services | Charges
Agribusiness Segment | $ | 4 |  |  | $ | 17 |  |  | $ | 3 |  |  | $ | 24 |
Edible Oils Segment | 2 |  |  | 1 |  |  | 1 |  |  | 4 |
Milling Segment | 1 |  |  | 1 |  |  | 1 |  |  | 3 |
Sugar and Bioenergy Segment | — |  |  | 1 |  |  | 1 |  |  | 2 |
Total | $ | 7 |  |  | $ | 20 |  |  | $ | 6 |  |  | $ | 33 |
For the costs recorded above, $2 million were recorded in Cost of goods sold, $18 million were recorded in Selling, general and administrative expenses, and $13 million were recorded in Other income (expense) - net. On September 27, 2017, as part of the GCP, Bunge offered a voluntary early retirement program to certain U.S. based salaried employees. Those employees had until October 31, 2017 to accept or decline the offer. For those employees who accepted, Bunge will recognize severance and other employee benefit costs of approximately $36 million in the fourth quarter of 2017.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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