v3.20.2

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 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 September 30, 2020
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Corporate and Other						Eliminations						Total
Net sales to external customers						$	7,108					$	2,434					$	416					$	48					$	153					$	—					$	—					$	10,159
Inter–segment revenues						1,293						78						—						1						1						—						(1,373)						—
Foreign exchange gains (losses)						59						(3)						1						—						1						(4)						—						54
Noncontrolling interests (1)						(2)						(2)						—						—						(1)						—						—						(5)
Other income (expense) – net						16						(1)						—						—						—						2						—						17
Income (loss) from affiliates						18						—						(1)						18						—						—						—						35
Segment EBIT (2)						299						76						16						23						29						(92)						—						351
Depreciation, depletion and amortization						(51)						(38)						(10)						—						(1)						(6)						—						(106)
Total assets						14,650						3,746						1,240						166						283						676						—						20,761

						Three Months Ended September 30, 2019
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Corporate and Other						Eliminations						Total
Net sales to external customers						$	7,008					$	2,319					$	437					$	381					$	178					$	—					$	—					$	10,323
Inter–segment revenues						1,225						37						1						—						8						—						(1,271)						—
Foreign exchange gains (losses)						(57)						5						—						(78)						—						1						—						(129)
Noncontrolling interests (1)						2						(6)						—						(1)						(1)						—						—						(6)
Other income (expense) – net						16						(13)						(3)						3						1						(8)						—						(4)
Income (loss) from affiliates						10						—						—						(2)						—						—						—						8
Segment EBIT (2)						107						59						14						(1,543)						22						(99)						—						(1,440)
Depreciation, depletion and amortization						(61)						(38)						(13)						(15)						(2)						(5)						—						(134)
Total assets						11,717						3,829						1,431						275						375						1,007						—						18,634

						Nine Months Ended September 30, 2020
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Corporate and Other						Eliminations						Total
Net sales to external customers						$	20,247					$	6,886					$	1,213					$	124					$	324					$	—					$	—					$	28,794
Inter–segment revenues						3,756						164						—						1						2						—						(3,923)						—
Foreign exchange gains (losses)						76						—						1						—						1						(3)						—						75
Noncontrolling interests (1)						(6)						5						—						(1)						—						—						—						(2)
Other income (expense) – net						40						(3)						(1)						—						—						1						—						37
Income (loss) from affiliates						43						—						(1)						(118)						—						—						—						(76)
Segment EBIT (2)						1,015						173						64						(112)						53						(274)						—						919
Depreciation, depletion and amortization						(158)						(112)						(33)						—						(4)						(16)						—						(323)
Total assets						14,650						3,746						1,240						166						283						676						—						20,761

						Nine Months Ended September 30, 2019
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Corporate and Other						Eliminations						Total
Net sales to external customers						$	20,995					$	6,764					$	1,293					$	950					$	355					$	—					$	—					$	30,357
Inter–segment revenues						3,471						110						1						1						28						—						(3,611)						—
Foreign exchange gains (losses)						(76)						4						3						(80)						—						2						—						(147)
Noncontrolling interests (1)						5						(12)						—						(1)						(1)						—						—						(9)
Other income (expense) – net						65						(18)						3						1						—						150						—						201
Income (loss) from affiliates						24						—						—						(3)						—						—						—						21
Segment EBIT (2)						457						161						61						(1,567)						30						(77)						—						(935)
Depreciation, depletion and amortization						(182)						(116)						(39)						(70)						(5)						(16)						—						(428)
Total assets						11,717						3,829						1,431						275						375						1,007						—						18,634

(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) attributable to Bunge 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 September 30,												Nine Months Ended September 30,
(US$ in millions)						2020						2019						2020						2019
Net income (loss) attributable to Bunge						$	262					$	(1,488)					$	594					$	(1,229)
Interest income						(5)						(8)						(18)						(22)
Interest expense						56						86						195						249
Income tax expense (benefit)						38						(28)						151						70
Noncontrolling interests' share of interest and tax						—						(2)						(3)						(3)
Total Segment EBIT from continuing operations						$	351					$	(1,440)					$	919					$	(935)

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 September 30, 2020
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Total
Sales from other arrangements						$	6,864					$	560					$	16					$	46					$	—					$	7,486
Sales from contracts with customers						244						1,874						400						2						153						2,673
Net sales to external customers						$	7,108					$	2,434					$	416					$	48					$	153					$	10,159

						Three Months Ended September 30, 2019
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Total
Sales from other arrangements						$	6,776					$	526					$	15					$	200					$	—					$	7,517
Sales from contracts with customers						232						1,793						422						181						178						2,806
Net sales to external customers						$	7,008					$	2,319					$	437					$	381					$	178					$	10,323

						Nine Months Ended September 30, 2020
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Total
Sales from other arrangements						$	19,559					$	1,551					$	45					$	116					$	—					$	21,271
Sales from contracts with customers						688						5,335						1,168						8						324						7,523
Net sales to external customers						$	20,247					$	6,886					$	1,213					$	124					$	324					$	28,794

						Nine Months Ended September 30, 2019
(US$ in millions)						Agribusiness						Edible Oil Products						Milling Products						Sugar and Bioenergy						Fertilizer						Total
Sales from other arrangements						$	20,335					$	1,438					$	50					$	556					$	—					$	22,379
Sales from contracts with customers						660						5,326						1,243						394						355						7,978
Net sales to external customers						$	20,995					$	6,764					$	1,293					$	950					$	355					$	30,357

X

- 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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