v3.21.2

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Operating Segment Information

Segment revenues generated from these transfers are shown in the following table as “Inter-segment revenues.”

			Three Months Ended September 30, 2021
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Eliminations			Total
Net sales to external customers			$	9,868		$	3,648		$	530		$	69		$	2		$	—		$	14,117
Inter–segment revenues			2,200			86			6			—			—			(2,292)			—
Cost of goods sold			(9,277)			(3,430)			(460)			(67)			(21)			—			(13,255)
Gross profit			591			218			70			2			(19)			—			862
Selling, general and administrative expenses			(118)			(83)			(25)			—			(101)			—			(327)
Foreign exchange gains (losses)			(30)			(1)			(2)			—			(3)			—			(36)
EBIT attributable to noncontrolling interests (1)			5			(2)			—			—			2			—			5
Other income (expense) - net			181			(2)			—			—			41			—			220
Income (loss) from affiliates			10			—			—			51			(1)			—			60
Total Segment EBIT (2)			639			130			43			53			(81)			—			784
Depreciation, depletion and amortization			52			36			10			—			7			—			105
Total assets			16,177			4,091			1,352			207			2,282			—			24,109

			Three Months Ended September 30, 2020
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Eliminations			Total
Net sales to external customers			$	7,290		$	2,432		$	388		$	49		$	—		$	—		$	10,159
Inter–segment revenues			1,279			90			227			1			—			(1,597)			—
Cost of goods sold			(6,917)			(2,254)			(338)			(44)			(4)			—			(9,557)
Gross profit			373			178			50			5			(4)			—			602
Selling, general and administrative expenses			(145)			(96)			(24)			—			(87)			—			(352)
Foreign exchange gains (losses)			59			(2)			1			—			(4)			—			54
EBIT attributable to noncontrolling interests (1)			(2)			(3)			—			—			—			—			(5)
Other income (expense) - net			15			(1)			—			—			3			—			17
Income (loss) from affiliates			17			—			(1)			19			—			—			35
Total Segment EBIT (2)			317			76			26			24			(92)			—			351
Depreciation, depletion and amortization			51			38			11			—			6			—			106
Total assets			14,833			3,401			1,184			144			1,199			—			20,761

			Nine Months Ended September 30, 2021
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Eliminations			Total
Net sales to external customers			$	31,312		$	9,572		$	1,392		$	190		$	3		$	—		$	42,469
Inter–segment revenues			$	5,711		$	313		$	114		$	—		$	—		$	(6,138)		$	—
Cost of goods sold			(29,425)			(8,924)			(1,231)			(187)			(28)			—			(39,795)
Gross profit			1,887			648			161			3			(25)			—			2,674
Selling, general and administrative expenses			(313)			(259)			(73)			(1)			(250)			—			(896)
Foreign exchange gains (losses)			(1)			1			(2)			—			(9)			—			(11)
EBIT attributable to noncontrolling interests (1)			(6)			(85)			(1)			—			2			—			(90)
Other income (expense) - net			227			236			—			1			55			—			519
Income (loss) from affiliates			44			—			—			89			—			—			133
Total Segment EBIT (2)			1,838			541			85			92			(227)			—			2,329
Depreciation, depletion and amortization			154			111			31			—			21			—			317
Total assets			16,177			4,091			1,352			207			2,282			—			24,109

			Nine Months Ended September 30, 2020
(US$ in millions)			Agribusiness			Edible Oil Products			Milling Products			Sugar and Bioenergy			Corporate and Other			Eliminations			Total
Net sales to external customers			$	20,597		$	6,887		$	1,185		$	125		$	—		$	—		$	28,794
Inter–segment revenues			3,748			183			232			1			—			(4,164)			—
Cost of goods sold			(19,319)			(6,434)			(1,036)			(118)			(6)			—			(26,913)
Gross profit			1,278			453			149			7			(6)			—			1,881
Selling, general and administrative expenses			(365)			(279)			(77)			—			(272)			—			(993)
Foreign exchange gains (losses)			78			—			—			—			(3)			—			75
EBIT attributable to noncontrolling interests (1)			(7)			3			(1)			—			—			—			(5)
Other income (expense) - net			39			(3)			(1)			—			2			—			37
Income (loss) from affiliates			46			—			(1)			(121)			—			—			(76)
Total Segment EBIT (2)			1,069			174			69			(114)			(279)			—			919
Depreciation, depletion and amortization			158			112			34			—			19			—			323
Total assets			14,833			3,401			1,184			144			1,199			—			20,761

(1)     Include noncontrolling interests' share of interest and tax with EBIT attributable to noncontrolling interests in order 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 Net income (loss) attributable to Bunge to Total Segment EBIT follows:

			Three Months Ended September 30,									Nine Months Ended September 30,
(US$ in millions)			2021			2020						2021			2020
Net income (loss) attributable to Bunge			$	653		$	262					$	1,847		$	594
Interest income			(19)			(5)						(34)			(18)
Interest expense			57			56						184			195
Income tax expense (benefit)			92			38						334			151
Noncontrolling interests' share of interest and tax			1			—						(2)			(3)
Total Segment EBIT from continuing operations			$	784		$	351					$	2,329		$	919

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, 2021
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Total
Sales from other arrangements			$	9,081		$	296		$	—		$	67		$	—		$	9,444
Sales from contracts with customers			787			3,352			530			2			2			4,673
Net sales to external customers			$	9,868		$	3,648		$	530		$	69		$	2		$	14,117

			Three Months Ended September 30, 2020
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Total
Sales from other arrangements			$	6,888		$	561		$	(9)		$	47		$	—		$	7,487
Sales from contracts with customers			402			1,871			397			2			—			2,672
Net sales to external customers			$	7,290		$	2,432		$	388		$	49		$	—		$	10,159

			Nine Months Ended September 30, 2021
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Total
Sales from other arrangements			$	29,568		$	725		$	—		$	186		$	—		$	30,479
Sales from contracts with customers			1,744			8,847			1,392			4			3			11,990
Net sales to external customers			$	31,312		$	9,572		$	1,392		$	190		$	3		$	42,469

			Nine Months Ended September 30, 2020
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Total
Sales from other arrangements			$	19,583		$	1,550		$	21		$	117		$	—		$	21,271
Sales from contracts with customers			1,014			5,337			1,164			8			—			7,523
Net sales to external customers			$	20,597		$	6,887		$	1,185		$	125		$	—		$	28,794

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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.

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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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