v3.22.1

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31, 2022
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Eliminations			Total
Net sales to external customers			$	11,231		$	3,976		$	603		$	64		$	6		$	—		$	15,880
Inter–segment revenues			2,487			112			375			—			—			(2,974)			—
Cost of goods sold			(10,367)			(3,714)			(532)			(62)			(1)			—			(14,676)
Gross profit			864			262			71			2			5			—			1,204
Selling, general and administrative expenses			(121)			(89)			(24)			—			(74)			—			(308)
Foreign exchange gains (losses)			9			—			3			—			—			—			12
EBIT attributable to noncontrolling interests (1)			(4)			3			—			—			(12)			—			(13)
Other income (expense) - net			(63)			(3)			—			—			19			—			(47)
Income (loss) from affiliates			14			—			—			32			(1)			—			45
Total Segment EBIT (2)			699			173			50			34			(63)			—			893
Total assets			20,607			4,383			1,482			322			1,930			—			28,724

			Three Months Ended March 31, 2021
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Eliminations			Total
Net sales to external customers			$	9,791		$	2,726		$	390		$	54		$	—		$	—		$	12,961
Inter–segment revenues			1,466			102			93			—			—			(1,661)			—
Cost of goods sold			(8,905)			(2,491)			(356)			(54)			(8)			—			(11,814)
Gross profit			886			235			34			—			(8)			—			1,147
Selling, general and administrative expenses			(80)			(86)			(23)			—			(82)			—			(271)
Foreign exchange gains (losses)			(8)			2			(3)			—			(1)			—			(10)
EBIT attributable to noncontrolling interests (1)			(8)			(79)			—			—			—			—			(87)
Other income (expense) - net			22			236			—			—			5			—			263
Income (loss) from affiliates			24			—			—			20			—			—			44
Total Segment EBIT (2)			836			308			8			20			(86)			—			1,086
Total assets			18,244			3,713			1,245			129			1,202			—			24,533

(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 March 31,
(US$ in millions)			2022			2021
Net income (loss) attributable to Bunge			$	688		$	831
Interest income			(9)			(9)
Interest expense			111			73
Income tax expense (benefit)			108			192
Noncontrolling interests' share of interest and tax			(5)			(1)
Total Segment EBIT from continuing operations			$	893		$	1,086

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 March 31, 2022
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Total
Sales from other arrangements			$	10,567		$	251		$	62		$	63		$	—		$	10,943
Sales from contracts with customers			664			3,725			541			1			6			4,937
Net sales to external customers			$	11,231		$	3,976		$	603		$	64		$	6		$	15,880

			Three Months Ended March 31, 2021
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Total
Sales from other arrangements			$	9,359		$	186		$	(6)		$	54		$	—		$	9,593
Sales from contracts with customers			432			2,540			396			—			—			3,368
Net sales to external customers			$	9,791		$	2,726		$	390		$	54		$	—		$	12,961

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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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