v3.21.1

TRADE ACCOUNTS RECEIVABLE AND TRADE RECEIVABLES SECURITIZATION PROGRAM (Tables)

3 Months Ended

Mar. 31, 2021

Transfers and Servicing [Abstract]

Changes to the Allowance for Lifetime Expected Credit Losses Related to Accounts Receivable

Changes to the allowance for lifetime expected credit losses related to trade accounts receivable are as follows:

			Three Months Ended March 31, 2021
Rollforward of the Allowance for Credit Losses (US$ in millions)			Short-term			Long-term (1)			Total
Allowance as of January 1, 2021			$	93		$	51		$	144
Current period provisions			7			—			7
Recoveries			(9)			—			(9)
Write-offs charged against the allowance			(1)			—			(1)
Foreign exchange translation differences			(2)			(3)			(5)
Allowance as of March 31, 2021			$	88		$	48		$	136

(1)     Long-term portion of the allowance for credit losses included in Other non-current assets.

			Three Months Ended March 31, 2020
Rollforward of the Allowance for Credit Losses (US$ in millions)			Short-term			Long-term (1)			Total
Allowance as of January 1, 2020			$	108		$	65		$	173
Current period provisions			13			—			13
Write-offs charged against the allowance			(1)			—			(1)
Foreign exchange translation differences			(3)			(10)			(13)
Allowance as of March 31, 2020			$	117		$	55		$	172

(1)     Long-term portion of the allowance for credit losses included in Other non-current assets.

Assets that Continue to be Recognized, Transferred Financial Assets and Other Financial Assets Managed Together

(US$ in millions)			March 31, 2021			December 31, 2020
Receivables sold that were derecognized from Bunge's balance sheet			$	1,074		$	969
Deferred purchase price included in other current assets			$	235		$	177

    The table below summarizes the cash flows and discounts of Bunge’s trade receivables associated with the Program. Servicing fees under the Program were not significant in any period.

			Three Months Ended March 31,
(US$ in millions)			2021			2020
Gross receivables sold			$	3,345		$	2,634
Proceeds received in cash related to transfer of receivables			$	3,067		$	2,485
Cash collections from customers on receivables previously sold			$	3,324		$	2,341
Discounts related to gross receivables sold included in Selling, general and administrative expense			$	2		$	3

X

- Definition

Tabular disclosure of allowance for credit loss on accounts receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-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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X

- Definition

Tabular disclosure of transferred financial assets that continue to be recognized and other financial assets that it manages together with them. Includes, but is not limited to, delinquencies and credit losses, after recoveries.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719

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- References

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