v3.20.2

OTHER NON-CURRENT ASSETS (Tables)

9 Months Ended

Sep. 30, 2020

Other Assets, Noncurrent [Abstract]

Schedule of other non-current assets

Other non-current assets consist of the following:

(US$ in millions)						September 30, 2020						December 31, 2019
Recoverable taxes, net (1)						$	63					$	48
Judicial deposits (1)						63						106
Other long-term receivables, net						12						6
Income taxes receivable						173						208
Long-term investments (2)						128						83
Affiliate loans receivable						16						29
Long-term receivables from farmers in Brazil, net (1)						43						69
Other						194						129
Total						$	692					$	678

(1)    These non-current assets arise primarily from the Company’s Brazilian operations and their realization could take several years.

(2)    As of September 30, 2020 and December 31, 2019, $11 million and $18 million, respectively, of long-term investments are recorded at fair value.

Summary of gross investment in long-term receivables and the related allowance amounts from Brazilian farmers

The table below summarizes the Company’s recorded investment in long-term receivables from farmers in Brazil and the related allowance amounts.

						September 30, 2020												December 31, 2019
(US$ in millions)						Recorded Investment						Allowance						Recorded Investment						Allowance
For which an allowance has been provided:
Legal collection process (1)						$	66					$	56					$	95					$	85
Renegotiated amounts						7						7						11						11
For which no allowance has been provided:
Legal collection process (1)						29						—						50						—
Renegotiated amounts (2)						4						—						5						—
Other long-term receivables						—						—						4						—
Total						$	106					$	63					$	165					$	96

(1)    All amounts in legal process are considered past due upon initiation of legal action.

(2)    These renegotiated amounts are current on repayment terms.

Summary of the activity in the allowance for doubtful accounts related to long-term receivables from Brazilian farmers

The table below summarizes the activity in the allowance for doubtful accounts related to long-term receivables from farmers in Brazil.

						Three Months Ended September 30,												Nine Months Ended September 30,
(US$ in millions)						2020						2019						2020						2019
Beginning balance						$	64					$	103					$	96					$	106
Bad debt provisions						1						2						5						3
Recoveries						(2)						(3)						(11)						(8)
Transfers						—						1						—						1
Foreign exchange translation						—						(8)						(27)						(7)
Ending balance						$	63					$	95					$	63					$	95

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
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