v3.23.2

OTHER CURRENT LIABILITIES (Tables) | 6 Months Ended
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Jun. 30, 2023
Other Liabilities Disclosure [Abstract] |
Schedule of Other Current Liabilities | Other current liabilities consist of the following:
(US$ in millions) | June 30, 2023 | December 31, 2022
Unrealized losses on derivative contracts, at fair value | $ | 1,574 |  | $ | 1,570 |
Accrued liabilities | 638 |  | 755 |
Advances on sales (1) | 380 |  | 601 |
Income tax payable | 63 |  | 156 |
Other | 347 |  | 297 |
Total | $ | 3,002 |  | $ | 3,379 |
(1) The Company records advances on sales when cash payments are received in advance of the Company’s performance and recognizes revenue once the related performance obligation is completed. Advances on sales are impacted by the seasonality of Bunge's business, including the timing of harvests in the northern and southern hemispheres, and amounts at each balance sheet date will generally be recognized in earnings within twelve months or less.

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