v3.23.2

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Operating Segment Information

Segment revenues generated from these transfers are shown in the following table as “Inter-segment revenues.”

			Three Months Ended June 30, 2023
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Eliminations			Total
Net sales to external customers			$	10,875		$	3,601		$	490		$	72		$	11		$	—		$	15,049
Inter–segment revenues			1,999			56			—			—			—			(2,055)			—
Cost of goods sold			(9,878)			(3,268)			(450)			(70)			(18)			—			(13,684)
Gross profit			997			333			40			2			(7)			—			1,365
Selling, general and administrative expenses			(151)			(98)			(24)			—			(147)			—			(420)
Foreign exchange (losses) gains			(64)			5			(1)			—			(6)			—			(66)
EBIT attributable to noncontrolling interests (1)			1			(7)			1			—			1			—			(4)
Other income (expense) - net			7			(16)			(2)			2			21			—			12
Income (loss) from affiliates			(5)			—			—			47			(17)			—			25
Total Segment EBIT (2)			785			217			14			51			(155)			—			912
Total assets			17,789			3,883			1,086			382			2,572			—			25,712

			Three Months Ended June 30, 2022
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Eliminations			Total
Net sales to external customers			$	12,747		$	4,445		$	677		$	57		$	7		$	—		$	17,933
Inter–segment revenues			2,892			86			92			—			—			(3,070)			—
Cost of goods sold			(12,431)			(4,120)			(551)			(55)			(4)			—			(17,161)
Gross profit			316			325			126			2			3			—			772
Selling, general and administrative expenses			(119)			(87)			(28)			—			(100)			—			(334)
Foreign exchange (losses) gains			(93)			(8)			—			—			(9)			—			(110)
EBIT attributable to noncontrolling interests (1)			(13)			(7)			(1)			—			1			—			(20)
Other income (expense) - net			(14)			(5)			—			—			13			—			(6)
Income (loss) from affiliates			16			—			—			4			—			—			20
Total Segment EBIT (2)			93			218			97			6			(92)			—			322
Total assets			18,889			4,616			1,488			376			2,050			—			27,419

			Six Months Ended June 30, 2023
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Eliminations			Total
Net sales to external customers			$	21,727		$	7,489		$	1,005		$	136		$	20		$	—		$	30,377
Inter–segment revenues			4,155			93			164			—			—			(4,412)			—
Cost of goods sold			(19,922)			(6,814)			(934)			(134)			(27)			—			(27,831)
Gross profit			1,805			675			71			2			(7)			—			2,546
Selling, general and administrative expenses			(283)			(193)			(45)			—			(252)			—			(773)
Foreign exchange (losses) gains			(25)			10			(1)			—			(1)			—			(17)
EBIT attributable to noncontrolling interests (1)			(20)			(11)			1			—			1			—			(29)
Other income (expense) - net			18			(31)			(3)			2			41			—			27
Income (loss) from affiliates			(5)			—			—			66			(17)			—			44
Total Segment EBIT (2)			1,490			450			23			70			(235)			—			1,798
Total assets			17,789			3,883			1,086			382			2,572			—			25,712

			Six Months Ended June 30, 2022
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Eliminations			Total
Net sales to external customers			$	23,978		$	8,421		$	1,280		$	121		$	13		$	—		$	33,813
Inter–segment revenues			5,379			198			467			—			—			(6,044)			—
Cost of goods sold			(22,798)			(7,834)			(1,083)			(117)			(5)			—			(31,837)
Gross profit			1,180			587			197			4			8			—			1,976
Selling, general and administrative expenses			(240)			(176)			(52)			—			(174)			—			(642)
Foreign exchange (losses) gains			(84)			(8)			3			—			(9)			—			(98)
EBIT attributable to noncontrolling interests (1)			(17)			(4)			(1)			—			(11)			—			(33)
Other income (expense) - net			(77)			(8)			—			—			32			—			(53)
Income (loss) from affiliates			30			—			—			36			(1)			—			65
Total Segment EBIT (2)			792			391			147			40			(155)			—			1,215
Total assets			18,889			4,616			1,488			376			2,050			—			27,419

(1)     Include noncontrolling interests' share of interest and tax with EBIT attributable to noncontrolling interests in order to reconcile to consolidated Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests.

(2)     Total Segment earnings before interest and taxes ("EBIT") is an operating performance measure used by Bunge’s management to evaluate segment operating activities. Bunge’s management believes Total Segment EBIT is a useful measure of operating profitability, since the measure allows for an evaluation of the performance of its segments without regard to its financing methods or capital structure. In addition, EBIT is a financial measure that is widely used by analysts and investors in Bunge’s industry. Total Segment EBIT is a non-GAAP financial measure and is not intended to replace Net income (loss) attributable to Bunge, the most directly comparable U.S. GAAP financial measure. Further, Total Segment EBIT is not a measure of consolidated operating results under U.S. GAAP and should not be considered as an alternative to Net income (loss) or any other measure of consolidated operating results under U.S. GAAP. See the reconciliation of Total Segment EBIT to Net income (loss) attributable to Bunge in the table below.

Schedule of Reconciliation of Total Segment EBIT to Net Income Attributable to Bunge

A reconciliation of Net income (loss) attributable to Bunge to Total Segment EBIT follows:

			Three Months Ended June 30,												Six Months Ended June 30,
(US$ in millions)			2023						2022						2023						2022
Net income (loss) attributable to Bunge			$	622					$	206					$	1,254					$	894
Interest income			(40)						(11)						(83)						(20)
Interest expense			129						92						241						203
Income tax expense (benefit)			198						36						381						144
Noncontrolling interests' share of interest and tax			3						(1)						5						(6)
Total Segment EBIT			$	912					$	322					$	1,798					$	1,215

Schedule of Net Sales by Product Group to External Customers

			Three Months Ended June 30, 2023
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Total
Sales from commodity contracts (ASC 815)			$	10,293		$	262		$	41		$	70		$	—		$	10,666
Sales from contracts with customers (ASC 606)			582			3,339			449			2			11			4,383
Net sales to external customers			$	10,875		$	3,601		$	490		$	72		$	11		$	15,049

			Three Months Ended June 30, 2022
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Total
Sales from commodity contracts (ASC 815)			$	11,929		$	379		$	47		$	56		$	—		$	12,411
Sales from contracts with customers (ASC 606)			818			4,066			630			1			7			5,522
Net sales to external customers			$	12,747		$	4,445		$	677		$	57		$	7		$	17,933

			Six Months Ended June 30, 2023
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Total
Sales from commodity contracts (ASC 815)			$	20,582		$	440		$	115		$	134		$	—		$	21,271
Sales from contracts with customers (ASC 606)			1,145			7,049			890			2			20			9,106
Net sales to external customers			$	21,727		$	7,489		$	1,005		$	136		$	20		$	30,377

			Six Months Ended June 30, 2022
(US$ in millions)			Agribusiness			Refined and Specialty Oils			Milling			Sugar and Bioenergy			Corporate and Other			Total
Sales from commodity contracts (ASC 815)			$	22,496		$	630		$	109		$	119		$	—		$	23,354
Sales from contracts with customers (ASC 606)			1,482			7,791			1,171			2			13			10,459
Net sales to external customers			$	23,978		$	8,421		$	1,280		$	121		$	13		$	33,813

X

- Definition

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Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

+ References

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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