v3.22.2.2
EQUITY
 9 Months Ended
Sep. 30, 2022
Stockholders' Equity Note [Abstract]  
EQUITY EQUITY
Cumulative Convertible Perpetual Preference Shares — On March 18, 2022, Bunge announced all issued and outstanding shares of its 4.875% Cumulative Convertible Perpetual Preference Shares ("convertible preference shares") would automatically convert into common shares of the Company, par value $0.01 per share, effective March 23, 2022 (the "Conversion Date"). On March 18, 2022, the closing price of the common shares of the Company on the New York Stock Exchange ("NYSE") was $104.91, marking the 20th trading day in the previous 30 trading days that the closing price of the common shares of the Company exceeded 130% of the conversion price, triggering the Company's right under the certificate of designation for the convertible preference shares, at its option, to mandatorily convert the convertible preference shares. The conversion price adjusted from $78.1322, per Note 24 - Equity included in the Company's 2021 Annual Report on Form 10-K, to $77.8482 on February 16, 2022.
Each convertible preference share automatically converted into 1.2846 common shares of the Company on the Conversion Date and cash was paid in lieu of fractional common shares of the Company. There were 6,898,268 convertible preference shares issued and outstanding prior to the conversion, which resulted in the issuance of 8,861,515 new common shares of the Company. Additionally, in the first quarter of 2022, prior to the conversion, 1,415 convertible preference shares were voluntarily converted by preference shareholders into 1,816 common shares. As a result of the conversions, no convertible preference shares were issued or outstanding as of September 30, 2022, and all rights of the former holders of the convertible preference shares terminated, as of March 23, 2022.
Dividends on the convertible preference shares ceased to accrue on the Conversion Date. Accordingly, holders of the convertible preference shares were not entitled to receive the $1.21875 per share dividend declared by the Company in respect of the convertible preference shares on February 23, 2022, and payable to holders of record on May 15, 2022. Following the conversion, holders of the convertible preference shares as of the Conversion Date were entitled to receive the $0.525 per share dividend declared by the Company with respect to the common shares on February 23, 2022, but only to the extent such holder remained a holder of record of common shares of the Company on May 19, 2022.
Share repurchase program — During October 2021, Bunge's Board of Directors approved a new program for the repurchase of up to $500 million of Bunge's issued and outstanding common shares. The program has no expiration date. Under this program, 2,109,115 common shares were repurchased for $200 million during the three and nine month periods ended September 30, 2022. As of September 30, 2022, $300 million remains outstanding for repurchases under the program.
During the three and nine month periods ended September 30, 2021, Bunge repurchased 1,298,384 common shares for $100 million, thereby completing a previous $500 million share repurchase program, established May 2015.
Dividends on common shares — On August 11, 2022, Bunge announced that the Company's Board of Directors had declared a dividend of $0.625 per common share, payable on December 2, 2022, to shareholders of record on November 18, 2022. During the nine months ended September 30, 2022, the Company's Board of Directors declared total dividends on common shares of $1.775 per common share.
Accumulated other comprehensive income (loss) attributable to Bunge — The following table summarizes the balances of related after-tax components of Accumulated other comprehensive income (loss) attributable to Bunge:
(US$ in millions)Foreign Exchange
Translation
Adjustment		Deferred
Gains (Losses)
on Hedging
Activities		Pension and Other
Postretirement
Liability
Adjustments		Accumulated
Other
Comprehensive
Income (Loss)
Balance, July 1, 2022$(5,962)$(331)$(143)$(6,436)
Other comprehensive income (loss) before reclassifications(333)32 — (301)
Acquisition of redeemable noncontrolling interest(15)— — (15)
Amount reclassified from accumulated other comprehensive income (loss)158 (18)1 141 
Balance, September 30, 2022$(6,152)$(317)$(142)$(6,611)
(US$ in millions)Foreign Exchange
Translation
Adjustment		Deferred
Gains (Losses)
on Hedging
Activities		Pension and Other
Postretirement
Liability
Adjustments		Accumulated
Other
Comprehensive
Income (Loss)
Balance, July 1, 2021$(5,771)$(311)$(176)$(6,258)
Other comprehensive income (loss) before reclassifications(222)43 2 (177)
Amount reclassified from accumulated other comprehensive income (loss)— (1)— (1)
Balance, September 30, 2021$(5,993)$(269)$(174)$(6,436)
(US$ in millions)Foreign Exchange
Translation
Adjustment		Deferred
Gains (Losses)
on Hedging
Activities		Pension and Other
Postretirement
Liability
Adjustments		Accumulated
Other
Comprehensive
Income (Loss)
Balance, January 1, 2022$(6,093)$(254)$(124)$(6,471)
Other comprehensive income (loss) before reclassifications(202)(38)— (240)
Acquisition of redeemable noncontrolling interest(15)— — (15)
Amount reclassified from accumulated other comprehensive income (loss)(1)
158 (25)(18)115 
Balance, September 30, 2022$(6,152)$(317)$(142)$(6,611)
(1)On February 28, 2022, the Company, together with plan participants and related employee unions, agreed to the transition of one of the Company's international defined benefit pension plans to a multi-employer pension plan. Following the transition, the Company accounts for the multi-employer plan similar to a defined contribution plan, resulting in full settlement of the related defined benefit plan obligations.
In connection with the settlement, during the nine months ended September 30, 2022, the Company reclassified $27 million (net of $10 million tax expense) in unamortized actuarial gains from Accumulated other comprehensive income (loss), of which $19 million was attributable to Bunge (net of $7 million in tax expense), and $8 million was attributable to redeemable non-controlling interest (net of $3 million in tax expense).

(US$ in millions)Foreign Exchange
Translation
Adjustment		Deferred
Gains (Losses)
on Hedging
Activities		Pension and Other
Postretirement
Liability
Adjustments		Accumulated
Other
Comprehensive
Income (Loss)
Balance, January 1, 2021$(5,857)$(215)$(174)$(6,246)
Other comprehensive income (loss) before reclassifications(136)(51)— (187)
Amount reclassified from accumulated other comprehensive income (loss)— (3)— (3)
Balance, September 30, 2021$(5,993)$(269)$(174)$(6,436)