v3.21.2

COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Liabilities Related to General Claims and Lawsuits Included in Other Non-Current Liabilities

Included in Other non-current liabilities at September 30, 2021 and December 31, 2020 are the following amounts related to these matters:

(US$ in millions)			September 30, 2021			December 31, 2020
Non-income tax claims			$	17		$	20
Labor claims			71			54
Civil and other claims			95			96
Total			$	183		$	170

Summary of Tax Examinations Against Brazilian Subsidiaries

As of September 30, 2021, the Brazilian federal and state authorities have concluded examinations of the ICMS and PIS/COFINS tax returns and have issued outstanding claims. The Company continues to evaluate the merits of each of these claims and will recognize them when loss is considered probable. The outstanding claims comprise the following:

(US$ in millions)			Years Examined			September 30, 2021			December 31, 2020
ICMS			1990 to Present			$	201		$	191
PIS/COFINS			2004 through 2016			$	267		$	208

Maximum Potential Future Payments Related to Guarantees

Bunge has issued or was a party to the following guarantees at September 30, 2021:

(US$ in millions)			Maximum Potential Future Payments
Unconsolidated affiliates guarantee (1)			$	262
Residual value guarantee (2)			261
Other guarantees			7
Total			$	530

(1)    Bunge has issued financial and performance guarantees to certain financial institutions related to debt of certain of its unconsolidated affiliates. The terms of the guarantees are equal to the terms of the related financings and have maturity dates through 2034. There are no recourse provisions or collateral that would enable Bunge to recover any amounts paid under these guarantees. Certain Bunge subsidiaries have guaranteed the obligations of certain of their affiliates and in connection therewith have secured their guarantee obligations through a pledge of certain of their affiliate's shares plus loans receivable from the affiliates to the financial institutions in the event that the guaranteed obligations are enforced. Based on amounts drawn under such debt facilities at September 30, 2021, Bunge's potential liability was $218 million, and has recorded a $9 million obligation related to these guarantees, inclusive of expected lifetime credit losses, which are determined based on historical financial information and are not expected to be material.

(2)    Bunge has issued guarantees to certain financial institutions that are party to certain operating lease arrangements for railcars, barges, and buildings. These guarantees provide for a minimum residual value to be received by the lessor at

the conclusion of the lease term. These leases expire at various dates from 2021 through 2028. At September 30, 2021, no obligation has been recorded related to these guarantees. Any obligation recorded would be recognized in Current operating lease obligations or Non-current operating lease obligations.

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Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

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