TRADE RECEIVABLES SECURITIZATION PROGRAM

Bunge and certain of its subsidiaries participate in a trade receivables securitization program (the “Program”) with a financial institution, as administrative agent, and certain commercial paper conduit purchasers and committed purchasers that provides for funding of up to $700 million against receivables sold into the Program.



(US$ in millions)	June 30, 2018		December 31, 2017
Receivables sold which were derecognized from Bunge's balance sheet	$	813	$	810
Deferred purchase price included in other current assets	$	118	$	107

The table below summarizes the cash flows and discounts of Bunge’s trade receivables associated with the Program. Servicing fees under the Program were not significant in any period.



	Six Months Ended June 30,
(US$ in millions)	2018		2017
Gross receivables sold	$	4,830	$	4,554
Proceeds received in cash related to transfer of receivables	$	4,626	$	4,379
Cash collections from customers on receivables previously sold	$	4,711	$	4,434
Discounts related to gross receivables sold included in SG&A	$	6	$	4

Non-cash activity for the program in the reporting period is represented by the difference between gross receivables sold and cash collections from customers on receivables previously sold.