OTHER CURRENT ASSETS Other current assets consist of the following: | | | | | | | | | | (US$ in millions) | | June 30,
2018 | | December 31,
2017 | Unrealized gains on derivative contracts, at fair value | | $ | 1,602 |
| | $ | 910 |
| Prepaid commodity purchase contracts (1) | | 610 |
| | 282 |
| Secured advances to suppliers, net (2) | | 249 |
| | 412 |
| Recoverable taxes, net | | 441 |
| | 488 |
| Margin deposits | | 469 |
| | 258 |
| Marketable securities, at fair value, and other short-term investments | | 337 |
| | 213 |
| Deferred purchase price receivable, at fair value (3) | | 118 |
| | 107 |
| Income taxes receivable | | 187 |
| | 192 |
| Prepaid expenses | | 190 |
| | 125 |
| Other | | 218 |
| | 240 |
| Total | | $ | 4,421 |
| | $ | 3,227 |
|
| | (1) | Prepaid commodity purchase contracts represent advance payments against contracts for future delivery of specified quantities of agricultural commodities. |
| | (2) | Bunge provides cash advances to suppliers, primarily Brazilian farmers of soybeans and sugarcane, to finance a portion of the suppliers’ production costs. Bunge does not bear any of the costs or operational risks associated with the related growing crops. The advances are largely collateralized by future crops and physical assets of the suppliers, carry a local market interest rate, and settle when the farmer’s crop is harvested and sold. The secured advances to farmers are reported net of allowances of nil at June 30, 2018 and $1 million at December 31, 2017. |
Interest earned on secured advances to suppliers of $8 million and $12 million for the three months ended June 30, 2018 and 2017, respectively, and $18 million and $27 million for the six months ended June 30, 2018 and 2017, respectively, is included in net sales in the condensed consolidated statements of income. | | (3) | Deferred purchase price receivable represents additional credit support for the investment conduits in Bunge’s trade receivables securitization program (see Note 13). |
Marketable Securities and Other Short-Term Investments - Bunge invests in foreign government securities, corporate debt securities, deposits, and other securities. The following is a summary of amounts recorded in the condensed consolidated balance sheets for marketable securities and other short-term investments. | | | | | | | | | | (US$ in millions) | | June 30,
2018 | | December 31,
2017 | Foreign government securities | | $ | 232 |
| | $ | 145 |
| Corporate debt securities | | 83 |
| | 59 |
| Certificates of deposit/time deposits | | 22 |
| | — |
| Other | | — |
| | 9 |
| Total marketable securities and other short-term investments | | $ | 337 |
| | $ | 213 |
|
As of June 30, 2018, total marketable securities and other short-term investments includes $312 million that are recorded at fair value and $25 million of other short-term investments. As of December 31, 2017, total marketable securities and other short-term investments includes $3 million of assets classified as available for sale, $209 million as trading and $1 million as other short-term investments. Due to the short term nature of these investments, carrying value approximates fair value. |