v3.8.0.1
COMMITMENTS AND CONTINGENCIES (Tables)
 9 Months Ended
Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]  
Liabilities related to general claims and lawsuits included in other non-current liabilities
Included in other non-current liabilities at September 30, 2017 and December 31, 2016 are the following amounts related to these matters:
(US$ in millions)
 
September 30,
2017
 
December 31,
2016
Non-income tax claims
 
$
176

 
$
170

Labor claims
 
96

 
82

Civil and other claims
 
94

 
98

Total
 
$
366

 
$
350
Maximum potential future payments related to guarantees
Bunge has issued or was a party to the following guarantees at September 30, 2017:
(US$ in millions)
 
Maximum
Potential
Future
Payments
Unconsolidated affiliates financing (1) (2)
 
$
169

Residual value guarantee (3)
 
227

Total
 
$
396

 
(1)
Bunge issued guarantees to certain financial institutions related to debt of certain of its unconsolidated affiliates. The terms of the guarantees are equal to the terms of the related financings which have maturity dates in 2017 through 2022. There are no recourse provisions or collateral that would enable Bunge to recover any amounts paid under these guarantees. At September 30, 2017, Bunge recorded no obligation related to these guarantees.
(2)
Bunge issued guarantees to certain third parties related to performance of its unconsolidated affiliates. The terms of the guarantees are equal to the completion date of a port terminal which is expected to be completed in 2020. There are no recourse provisions or collateral that would enable Bunge to recover any amounts paid under these guarantees. At September 30, 2017, Bunge recorded no obligation related to these guarantees.
(3)
Bunge issued guarantees to certain financial institutions which are party to certain operating lease arrangements for railcars and barges. These guarantees provide for a minimum residual value to be received by the lessor at conclusion of the lease term. These leases expire at various dates from 2018 through 2021. At September 30, 2017, Bunge’s recorded obligation related to these guarantees was $3 million.