| Operating Segment Information |
The segment revenues generated from these transfers are shown in the following table as “Inter-segment revenues”. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2020 | (US$ in millions) | | Agribusiness | | Edible Oil Products | | Milling Products | | Sugar and Bioenergy | | Fertilizer | | Corporate and Other (1) | | Eliminations | | Total | Net sales to external customers | | $ | 6,329 |
| | $ | 2,324 |
| | $ | 416 |
| | $ | 50 |
| | $ | 54 |
| | $ | — |
| | $ | — |
| | $ | 9,173 |
| Inter–segment revenues | | 1,207 |
| | 43 |
| | — |
| | — |
| | — |
| | — |
| | (1,250 | ) | | — |
| Foreign exchange gains (losses) | | (13 | ) | | 7 |
| | (1 | ) | | — |
| | — |
| | 1 |
| | — |
| | (6 | ) | Noncontrolling interests (1) | | 2 |
| | 7 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 9 |
| Other income (expense) – net | | 1 |
| | (1 | ) | | (1 | ) | | (51 | ) | | — |
| | 1 |
| | — |
| | (51 | ) | Segment EBIT (2) | | (127 | ) | | 46 |
| | 18 |
| | (50 | ) | | 5 |
| | (62 | ) | | — |
| | (170 | ) | Depreciation, depletion and amortization | | (57 | ) | | (37 | ) | | (12 | ) | | — |
| | (2 | ) | | (5 | ) | | — |
| | (113 | ) | Total assets | | 12,394 |
| | 3,604 |
| | 1,277 |
| | 323 |
| | 294 |
| | 704 |
| | — |
| | 18,596 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2019 | (US$ in millions) | | Agribusiness | | Edible
Oil
Products | | Milling
Products | | Sugar and
Bioenergy | | Fertilizer | | Corporate and Other (1) | | Eliminations | | Total | Net sales to external customers | | $ | 6,919 |
| | $ | 2,239 |
| | $ | 426 |
| | $ | 285 |
| | $ | 69 |
| | $ | — |
| | $ | — |
| | $ | 9,938 |
| Inter–segment revenues | | 1,168 |
| | 32 |
| | — |
| | — |
| | 1 |
| | — |
| | (1,201 | ) | | — |
| Foreign exchange gains (losses) | | (9 | ) | | 2 |
| | 2 |
| | (3 | ) | | — |
| | 1 |
| | — |
| | (7 | ) | Noncontrolling interests (1) | | 2 |
| | (6 | ) | | — |
| | (1 | ) | | — |
| | — |
| | — |
| | (5 | ) | Other income (expense) – net | | 29 |
| | (1 | ) | | (2 | ) | | — |
| | — |
| | 5 |
| | — |
| | 31 |
| Segment EBIT (2) | | 141 |
| | 59 |
| | 22 |
| | (19 | ) | | 2 |
| | (54 | ) | | — |
| | 151 |
| Depreciation, depletion and amortization | | (60 | ) | | (39 | ) | | (14 | ) | | (19 | ) | | (2 | ) | | (5 | ) | | — |
| | (139 | ) | Total assets | | 12,118 |
| | 3,942 |
| | 1,542 |
| | 1,861 |
| | 315 |
| | 757 |
| | — |
| | 20,535 |
|
| | (1) | Includes noncontrolling interests share of interest and tax to reconcile to consolidated Noncontrolling interests. |
(2) Total segment earnings before interest and taxes (“EBIT”) is an operating performance measure used by Bunge’s management to evaluate segment operating activities. Bunge’s management believes total Segment EBIT is a useful measure of operating profitability, since the measure allows for an evaluation of the performance of its segments without regard to its financing methods or capital structure. In addition, total Segment EBIT is a financial measure that is widely used by analysts and investors in Bunge’s industry. However, total Segment EBIT is a non-GAAP financial measure and is not intended to replace Net income (loss) attributable to Bunge, the most directly comparable U.S. GAAP financial measure. Further, total Segment EBIT is not a measure of consolidated operating results under U.S. GAAP and should not be considered as an alternative to Net income (loss) or any other measure of consolidated operating results under U.S. GAAP. See the reconciliation of total Segment EBIT to Net income (loss) in the table below.
|
| Net sales by product group to external customers |
The following tables provide a disaggregation of Net sales to external customers between Sales from contracts with customers and Sales from other arrangements: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2020 | (US$ in millions) | | Agribusiness | | Edible Oil Products | | Milling Products | | Sugar and Bioenergy | | Fertilizer | | Total | Sales from other arrangements | | $ | 6,084 |
| | $ | 492 |
| | $ | 15 |
| | $ | 47 |
| | $ | — |
| | $ | 6,638 |
| Sales from contracts with customers | | 245 |
| | 1,832 |
| | 401 |
| | 3 |
| | 54 |
| | 2,535 |
| Net sales to external customers | | $ | 6,329 |
| | $ | 2,324 |
| | $ | 416 |
| | $ | 50 |
| | $ | 54 |
| | $ | 9,173 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2019 | (US$ in millions) | | Agribusiness | | Edible
Oil
Products | | Milling
Products | | Sugar and
Bioenergy | | Fertilizer | | Total | Sales from other arrangements | | $ | 6,717 |
| | $ | 459 |
| | $ | 15 |
| | $ | 205 |
| | $ | — |
| | $ | 7,396 |
| Sales from contracts with customers | | 202 |
| | 1,780 |
| | 411 |
| | 80 |
| | 69 |
| | 2,542 |
| Net sales to external customers | | $ | 6,919 |
| | $ | 2,239 |
| | $ | 426 |
| | $ | 285 |
| | $ | 69 |
| | $ | 9,938 |
|
|