v3.21.1

OTHER CURRENT ASSETS (Tables) | 3 Months Ended
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Mar. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Schedule of other current assets | Other current assets consist of the following:
(US$ in millions) | March 31, 2021 | December 31, 2020
Unrealized gains on derivative contracts, at fair value | $ | 3,250 |  | $ | 3,555 |
Prepaid commodity purchase contracts (1) | 175 |  | 174 |
Secured advances to suppliers, net (2) | 326 |  | 380 |
Recoverable taxes, net | 354 |  | 385 |
Margin deposits | 532 |  | 817 |
Marketable securities, at fair value, and other short-term investments | 351 |  | 346 |
Deferred purchase price receivable(3) | 235 |  | 177 |
Income taxes receivable | 10 |  | 27 |
Prepaid expenses | 296 |  | 231 |
Other | 236 |  | 176 |
Total | $ | 5,765 |  | $ | 6,268 |
(1) Prepaid commodity purchase contracts represent advance payments against contracts for future deliveries of specified quantities of agricultural commodities. (2) The Company provides cash advances to suppliers, primarily Brazilian farmers of soybeans, to finance a portion of the suppliers’ production costs. The Company does not bear any of the costs or operational risks associated with the related growing crops. The advances are largely collateralized by future crops and physical assets of the suppliers, carry a local market interest rate, and settle when the farmers' crops are harvested and sold. The secured advances to farmers are reported net of allowances of $3 million at March 31, 2021 and $2 million at December 31, 2020. Interest earned on secured advances to suppliers of $9 million and $12 million for the three months ended March 31, 2021 and 2020, respectively, is included in Net sales in the condensed consolidated statements of income. (3) Deferred purchase price receivable represents additional credit support for the investment conduits in the Company’s trade receivables securitization program (see Note 5- Trade Accounts Receivable and Trade Receivable Securitization Program).
Summary of marketable securities and other short-term investments | The following is a summary of amounts recorded in the Company's condensed consolidated balance sheets as marketable securities and other short-term investments.
(US$ in millions) | March 31, 2021 | December 31, 2020
Foreign government securities | $ | 190 |  | $ | 207 |
Corporate debt securities | 137 |  | 136 |
Other | 24 |  | 3 |
Total | $ | 351 |  | $ | 346 |

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