v3.21.2

OTHER CURRENT ASSETS (Tables)

6 Months Ended

Jun. 30, 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)			June 30, 2021			December 31, 2020
Unrealized gains on derivative contracts, at fair value			$	2,843		$	3,555
Prepaid commodity purchase contracts (1)			381			174
Secured advances to suppliers, net (2)			164			380
Recoverable taxes, net			336			385
Margin deposits			429			817
Marketable securities, at fair value, and other short-term investments			437			346
Deferred purchase price receivable(3)			427			177
Income taxes receivable			43			27
Prepaid expenses			390			231
Restricted cash			40			29
Other			191			147
Total			$	5,681		$	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 activities. 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 $4 million at June 30, 2021 and $2 million at December 31, 2020.

    Interest earned on secured advances to suppliers of $4 million and $6 million for the three months ended June 30, 2021 and 2020, respectively, and $13 million and $18 million for the six months ended June 30, 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)			June 30, 2021			December 31, 2020
Foreign government securities			$	279		$	207
Corporate debt securities			157			136
Other			1			3
Total			$	437		$	346

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- References

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Tabular disclosure of investment.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-URI http://asc.fasb.org/topic&trid=2197064

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 321
-URI http://asc.fasb.org/topic&trid=75115024

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-URI http://asc.fasb.org/topic&trid=2196965

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