v3.20.2

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Operating Segment Information

The segment revenues generated from these transfers are shown in the following table as “Inter-segment revenues.”

						Three Months Ended June 30, 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						$	6,810					$	2,128					$	381					$	26					$	117					$	—					$	—					$	9,462
Inter–segment revenues						1,256						44						—						—						1						—						(1,301)						—
Foreign exchange gains (losses)						30						(4)						1						—						—						—						—						27
Noncontrolling interests (1)						(6)						—						—						—						—						—						—						(6)
Other income (expense) – net						30						(1)						—						—						—						(2)						—						27
Income (loss) from affiliates						18						—						—						(85)						—						—						—						(67)
Segment EBIT (2)						843						51						30						(85)						19						(120)						—						738
Depreciation, depletion and amortization						(50)						(37)						(11)						—						(1)						(5)						—						(104)
Total assets						12,566						3,615						1,240						176						320						642						—						18,559

						Three Months Ended June 30, 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						$	7,068					$	2,206					$	430					$	284					$	108					$	—					$	—					$	10,096
Inter–segment revenues						1,078						41						—						1						18						—						(1,138)						—
Foreign exchange gains (losses)						(10)						(3)						1						1						—						—						—						(11)
Noncontrolling interests (1)						1						—						—						1						—						—						—						2
Other income (expense) – net						25						(2)						8						(2)						(1)						153						—						181
Income (loss) from affiliates						7						—						—						(1)						—						—						—						6
Segment EBIT (2)						209						43						25						(5)						6						76						—						354
Depreciation, depletion and amortization						(62)						(39)						(13)						(36)						(1)						(5)						—						(156)
Total assets						12,010						3,914						1,508						1,922						345						725						—						20,424

						Six Months Ended June 30, 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						$	13,139					$	4,452					$	797					$	76					$	171					$	—					$	—					$	18,635
Inter–segment revenues						2,463						87						—						—						1						—						(2,551)						—
Foreign exchange gains (losses)						17						3						—						—						—						1						—						21
Noncontrolling interests (1)						(4)						7						—						—						—						—						—						3
Other income (expense) – net						24						(2)						(1)						—						—						(1)						—						20
Income (loss) from affiliates						25						—						—						(136)						—						—						—						(111)
Segment EBIT (2)						716						97						48						(135)						24						(182)						—						568
Depreciation, depletion and amortization						(107)						(74)						(23)						—						(3)						(10)						—						(217)
Total assets						12,566						3,615						1,240						176						320						642						—						18,559

						Six Months Ended June 30, 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						$	13,987					$	4,445					$	856					$	569					$	177					$	—					$	—					$	20,034
Inter–segment revenues						2,246						73						—						1						20						—						(2,340)						—
Foreign exchange gains (losses)						(19)						(1)						3						(2)						—						1						—						(18)
Noncontrolling interests (1)						3						(6)						—						—						—						—						—						(3)
Other income (expense) – net						49						(5)						6						(2)						(1)						158						—						205
Income (loss) from affiliates						14						—						—						(1)						—						—						—						13
Segment EBIT (2)						350						102						47						(24)						8						22						—						505
Depreciation, depletion and amortization						(122)						(78)						(26)						(55)						(3)						(10)						—						(294)
Total assets						12,010						3,914						1,508						1,922						345						725						—						20,424

(1)  Include 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.

Reconciliation of Total Segment EBIT to net income attributable to Bunge

A reconciliation of total Segment EBIT to Net income (loss) attributable to Bunge follows:

						Three Months Ended June 30,																		Six Months Ended June 30,
(US$ in millions)						2020						2019						2020						2019
Net income (loss) attributable to Bunge						$	516					$	214					$	332					$	259
Interest income						(6)						(7)						(13)						(14)
Interest expense						62						88						139						163
Income tax expense (benefit)						168						60						113						98
Noncontrolling interests' share of interest and tax						(2)						(1)						(3)						(1)
Total Segment EBIT from continuing operations						$	738					$	354					$	568					$	505

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 June 30, 2020
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Total
Sales from other arrangements						$	6,611					$	498					$	15					$	23					$	—					$	7,147
Sales from contracts with customers						199						1,630						366						3						117						2,315
Net sales to external customers						$	6,810					$	2,128					$	381					$	26					$	117					$	9,462

						Three Months Ended June 30, 2019
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Total
Sales from other arrangements						$	6,842					$	453					$	20					$	151					$	—					$	7,466
Sales from contracts with customers						226						1,753						410						133						108						2,630
Net sales to external customers						$	7,068					$	2,206					$	430					$	284					$	108					$	10,096

						Six Months Ended June 30, 2020
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Total
Sales from other arrangements						$	12,695					$	990					$	30					$	70					$	—					$	13,785
Sales from contracts with customers						444						3,462						767						6						171						4,850
Net sales to external customers						$	13,139					$	4,452					$	797					$	76					$	171					$	18,635

						Six Months Ended June 30, 2019
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Total
Sales from other arrangements						$	13,559					$	912					$	35					$	356					$	—					$	14,862
Sales from contracts with customers						428						3,533						821						213						177						5,172
Net sales to external customers						$	13,987					$	4,445					$	856					$	569					$	177					$	20,034

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- Definition

This element represents the reconciliation of income or loss before interest and income taxes from reportable segments, to the entity's consolidated net income or loss attributable to the parent company.

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X

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Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

+ References

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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