v3.20.1
TRADE ACCOUNTS RECEIVABLE AND TRADE RECEIVABLES SECURITIZATION PROGRAM (Tables)
 3 Months Ended
Mar. 31, 2020
Transfers and Servicing [Abstract]  
Changes to the Allowance for Lifetime Expected Credit Losses Related to Accounts Receivable
Changes to the allowance for lifetime expected credit losses related to trade account receivables are as follows:
Rollforward of the Allowance for Credit Losses (US$ in millions)
Short-term
Long-term (1)
Total
Allowance as of January 1, 2020
$
108

$
65

$
173

Current period provisions
13

—

13

Write-offs charged against the allowance
(1
)
—

(1
)
Foreign exchange translation differences
(3
)
(10
)
(13
)
Allowance as of March 31, 2020
$
117

$
55

$
172
Assets that Continue to be Recognized, Transferred Financial Assets and Other Financial Assets Managed Together
(US$ in millions)
 
March 31,
2020
 
December 31,
2019
Receivables sold which were derecognized from Bunge's balance sheet
 
$
818

 
$
801

Deferred purchase price included in other current assets
 
$
112

 
$
105


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.
 
 
Three Months Ended
March 31,
(US$ in millions)
 
2020
 
2019
Gross receivables sold
 
$
2,634

 
$
2,258

Proceeds received in cash related to transfer of receivables
 
$
2,485

 
$
2,101

Cash collections from customers on receivables previously sold
 
$
2,341

 
$
1,875

Discounts related to gross receivables sold included in SG&A
 
$
3

 
$
4