TRADE ACCOUNTS RECEIVABLE AND TRADE RECEIVABLES SECURITIZATION PROGRAM (Tables)

6 Months Ended

Jun. 30, 2022

Changes to the Allowance for Lifetime Expected Credit Losses Related to Accounts Receivable

Changes to the allowance for lifetime expected credit losses related to trade accounts receivable were as follows:


	Six Months Ended June 30, 2022
Rollforward of the Allowance for Credit Losses (US$ in millions)	Short-term		Long-term (1)		Total
Allowance as of January 1, 2022	$	85	$	47	$	132
Current period provisions	27		1		28
Recoveries	(19)		—		(19)
Write-offs charged against the allowance	(10)		(3)		(13)
Foreign exchange translation differences	(1)		2		1
Allowance as of June 30, 2022	$	82	$	47	$	129

(1) Long-term portion of the allowance for credit losses included in Other non-current assets.


	Six Months Ended June 30, 2021
Rollforward of the Allowance for Credit Losses (US$ in millions)	Short-term		Long-term (1)		Total
Allowance as of January 1, 2021	$	93	$	51	$	144
Current period provisions	17		—		17
Recoveries	(13)		(1)		(14)
Write-offs charged against the allowance	(2)		—		(2)
Foreign exchange translation differences	(1)		1		—
Allowance as of June 30, 2021	$	94	$	51	$	145

(1) Long-term portion of the allowance for credit losses included in Other non-current assets.

Assets that Continue to be Recognized, Transferred Financial Assets and Other Financial Assets Managed Together


(US$ in millions)	June 30, 2022		December 31, 2021
Receivables sold that were derecognized from Bunge's condensed consolidated balance sheet	$	1,732	$	1,426
Deferred purchase price included in Other current assets (1)	$	628	$	496

(1) Bunge's risk of loss following the sale of the trade receivables is limited to the deferred purchase price ("DPP"), included in Other current assets in the condensed consolidated balance sheets (see Note 7 - Other Current Assets). The DPP will be repaid in cash as receivables are collected, generally within 30 days of collection. Provisions for delinquencies and credit losses on trade receivables sold under the Program were $4 million and $5 million at June 30, 2022 and December 31, 2021, respectively.

The table below summarizes the cash flows and discounts of Bunge’s trade receivables associated with the Program. Servicing fees under the Program were not significant in any period.


	Six Months Ended June 30,
(US$ in millions)	2022		2021
Gross receivables sold	$	8,585	$	6,915
Proceeds received in cash related to transfer of receivables	$	7,876	$	6,423
Cash collections from customers on receivables previously sold	$	8,372	$	6,545
Discounts related to gross receivables sold included in Selling, general and administrative expense	$	6	$	4