v3.23.2

EQUITY | 6 Months Ended
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Jun. 30, 2023
Stockholders' Equity Note [Abstract] |
EQUITY | EQUITY Share repurchase program — As noted in Note 2 - Acquisitions and Dispositions, on June 12, 2023, Bunge's Board of Directors approved the expansion of the existing program for the repurchase of Bunge’s issued and outstanding common shares. At the time, approximately $300 million of capacity for the repurchase of Bunge common shares remained available under the existing program and Bunge's Board of Directors approved the expansion of the program by an additional $1.7 billion, for an aggregate purchase price of $2.0 billion. The program continues to have an indefinite term. To date under the program, 2,109,115 common shares were repurchased for $200 million. As of June 30, 2023, $2.0 billion remains outstanding for repurchases under the program. Dividends on common shares — On May 11, 2023, Bunge announced that the Company's Board of Directors had declared a dividend of $0.6625 per common share, payable on September 1, 2023, to shareholders of record on August 18, 2023. The $0.6625 per common share dividend represents a $0.0375, or 6%, increase from the Company's previous quarterly cash dividend of $0.625. During the six months ended June 30, 2023, the Company's Board of Directors declared total dividends on common shares of $1.2875 per common share. Accumulated other comprehensive income (loss) attributable to Bunge — The following table summarizes the balances of related after-tax components of Accumulated other comprehensive income (loss) attributable to Bunge:
(US$ in millions) | Foreign Exchange Translation Adjustment | Deferred Gains (Losses) on Hedging Activities | Pension and Other Postretirement Liability Adjustments |  | Accumulated Other Comprehensive Income (Loss)
Balance, April 1, 2023 | $ | (5,701) |  | $ | (368) |  | $ | (102) |  |  | $ | (6,171) |
Other comprehensive income (loss) before reclassifications | 147 |  | (66) |  | — |  |  | 81 |
Amount reclassified from accumulated other comprehensive income (loss) | — |  | (1) |  | — |  |  | (1) |
Balance, June 30, 2023 | $ | (5,554) |  | $ | (435) |  | $ | (102) |  |  | $ | (6,091) |
(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, April 1, 2022 | $ | (5,697) |  | $ | (373) |  | $ | (143) |  |  |  | $ | (6,213) |
Other comprehensive income (loss) before reclassifications | (265) |  | 47 |  | — |  |  |  | (218) |
Amount reclassified from accumulated other comprehensive income (loss) | — |  | (5) |  | — |  |  |  | (5) |
Balance, June 30, 2022 | $ | (5,962) |  | $ | (331) |  | $ | (143) |  |  |  | $ | (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, 2023 | $ | (5,926) |  | $ | (343) |  | $ | (102) |  |  |  | $ | (6,371) |
Other comprehensive income (loss) before reclassifications | 269 |  | (92) |  | — |  |  |  | 177 |
Amount reclassified from accumulated other comprehensive income (loss) | 103 |  | — |  | — |  |  |  | 103 |
Balance, June 30, 2023 | $ | (5,554) |  | $ | (435) |  | $ | (102) |  |  |  | $ | (6,091) |
(US$ in millions) | Foreign Exchange Translation Adjustment | Deferred Gains (Losses) on Hedging Activities | Pension and Other Postretirement Liability Adjustments (1) |  |  | Accumulated Other Comprehensive Income (Loss)
Balance, January 1, 2022 | $ | (6,093) |  | $ | (254) |  | $ | (124) |  |  |  | $ | (6,471) |
Other comprehensive income (loss) before reclassifications | 131 |  | (70) |  | — |  |  |  | 61 |
Amount reclassified from accumulated other comprehensive income (loss) (1) | — |  | (7) |  | (19) |  |  |  | (26) |
Balance, June 30, 2022 | $ | (5,962) |  | $ | (331) |  | $ | (143) |  |  |  | $ | (6,436) |
(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 six months ended June 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).

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