OTHER CURRENT ASSETS

6 Months Ended

Jun. 30, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other current assets consist of the following:


(US$ in millions)	June 30, 2022		December 31, 2021
Unrealized gains on derivative contracts, at fair value	$	2,479	$	1,630
Prepaid commodity purchase contracts (1)	365		186
Secured advances to suppliers, net (2)	192		375
Recoverable taxes, net	375		347
Margin deposits	639		569
Deferred purchase price receivable(3)	628		496
Marketable securities and other short-term investments(4)	172		520
Income taxes receivable	114		47
Prepaid expenses	434		380
Restricted cash	5		3
Other	286		198
Total	$	5,689	$	4,751

(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 soybean farmers, 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 $3 million at June 30, 2022 and $3 million at December 31, 2021.

Interest earned on secured advances to suppliers of $6 million and $4 million for the three months ended June 30, 2022 and 2021, respectively, and $12 million and $13 million for the six months ended June 30, 2022 and 2021, 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).

(4) Marketable securities and other short-term investments - The Company invests in foreign government securities, corporate debt securities, deposits, equity securities, and other securities. 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, 2022		December 31, 2021
Foreign government securities	$	83	$	261
Corporate debt securities	27		158

Equity securities	25		60
Other	37		41
Total	$	172	$	520

As of June 30, 2022 and December 31, 2021, $135 million and $479 million, respectively, of marketable securities and other short-term investments were recorded at fair value. All other investments were recorded at cost, and due to the short-term nature of these investments, their carrying values approximated their fair values. For the three months ended June 30, 2022 and 2021, unrealized losses of $18 million and unrealized gains of $16 million, respectively, have been recorded and recognized in Other income (expense) - net for investments held at June 30, 2022 and 2021. For the six months ended June 30, 2022 and 2021, unrealized losses of $119 million and unrealized gains of $22 million, respectively, have been recorded and recognized in Other income (expense) - net for investments held at June 30, 2022 and 2021.