v3.22.2.2

COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Liabilities Related to General Claims and Lawsuits Included in Other Non-Current Liabilities

Included in Other non-current liabilities as of September 30, 2022, and December 31, 2021, are the following amounts related to these matters:

(US$ in millions)			September 30, 2022			December 31, 2021
Non-income tax claims			$	18		$	15
Labor claims			73			72
Civil and other claims			99			95
Total			$	190		$	182

Schedule of Tax Examinations Against Brazilian Subsidiaries

As of September 30, 2022, the Brazilian federal and state authorities have concluded examinations of the ICMS and PIS/COFINS tax returns and have issued outstanding claims. The Company continues to evaluate the merits of each of these claims and will recognize them when loss is considered probable. The outstanding claims comprise the following:

(US$ in millions)			Years Examined			September 30, 2022			December 31, 2021
ICMS			1990 to Present			$	198		$	222
PIS/COFINS			2002 to Present			$	335		$	228

Schedule of Maximum Potential Future Payments Related to Guarantees

Bunge has issued or was a party to the following guarantees at September 30, 2022:

(US$ in millions)			Maximum Potential Future Payments
Unconsolidated affiliates guarantee (1)			$	241
Residual value guarantee (2)			301
Other guarantees			5
Total			$	547

(1)    Bunge has issued guarantees to certain financial institutions related to debt of certain of its unconsolidated affiliates. The terms of the guarantees are equal to the terms of the related financings, which have maturity dates through 2034. There are no recourse provisions or collateral that would enable Bunge to recover any amounts paid under these guarantees. In addition, certain Bunge subsidiaries have guaranteed the obligations of certain of their unconsolidated affiliates and in connection therewith have secured their guarantee obligations through a pledge to the financial institutions of certain of their unconsolidated affiliates' shares plus loans receivable from the unconsolidated affiliates in the event that the guaranteed obligations are enforced. Based on amounts drawn under such debt facilities at September 30, 2022, Bunge's potential liability was $228 million, and it has recorded a $3 million obligation related to these guarantees within Other non-current liabilities.

(2)    Bunge has issued guarantees to certain financial institutions that are party to certain operating lease arrangements for railcars, barges, and buildings. These guarantees provide for a minimum residual value to be received by the lessor at the conclusion of the lease term. These leases expire at various dates from 2022 through 2029. At September 30, 2022, no obligation has been recorded related to these guarantees. Any obligation recorded would be recognized in Current operating lease obligations or Non-current operating lease obligations.

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Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

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Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

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Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded.

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