On October 12, 2021, Bunge entered into an agreement to sell substantially all of its wheat milling business in Mexico in exchange for cash proceeds approximately equal to the book value of Property, plant and equipment, net, plus an additional sum in consideration for the value of net working capital to be transferred upon closing. Additionally, cumulative translation adjustments, among other items related to the disposal group, resulted in a corresponding impairment loss on sale of $170 million, recognized in Cost of goods sold for the year ended December 31, 2021. The agreement is expected to close in the second or third quarter of 2022 and is subject to regulatory approval and customary closing conditions.

The following table presents the disposal group's major classes of assets and liabilities included in Assets held for sale and Liabilities held for sale, respectively, on the condensed consolidated balance sheet at March 31, 2022, reported under the Milling segment:


(US$ in millions)	March 31, 2022
Trade accounts receivable	$	70
Inventories	115
Other current assets	16
Property, plant and equipment, net	160
Operating lease assets	3
Goodwill & Other intangible assets, net	86
Impairment reserve	(170)
Assets held for sale (1) (2)	$	280

Trade accounts payable	$	101
Current operating lease obligations	3
Other current liabilities	9

Liabilities held for sale (2)	$	113

(1) Assets held for sale excludes approximately $153 million of cumulative translation adjustments on non-current assets included in the Mexico wheat milling disposal group.

(2) In addition to the disposition discussed above, from time to time the Company has Assets held for sale and Liabilities held for sale related to insignificant dispositions. Total Assets held for sale related to these transactions is $5 million at March 31, 2022. There are no Liabilities held for sale related to these transactions at March 31, 2022.