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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company's operations are organized, managed, and classified into four reportable segments - Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy, organized based upon their similar economic characteristics, products and services offered, production processes, types and classes of customer, and distribution methods. The Company’s remaining operations are not reportable segments, as defined by the applicable accounting standard, and are classified as Corporate and Other.
The Agribusiness segment is characterized by both inputs and outputs being agricultural commodities and thus high volume and low margin. The Refined and Specialty Oils segment involves the processing, production, and marketing of products derived from vegetable oils. The Milling segment involves the processing, production, and marketing of products derived primarily from wheat and corn. The Sugar and Bioenergy reportable segment primarily comprises the net earnings in the Company’s 50% interest in BP Bunge Bioenergia, a joint venture with BP p.l.c. On June 19, 2024, Bunge entered into a definitive share purchase agreement to sell its 50% ownership share in BP Bunge Bioenergia, see Note 2 - Acquisitions and Dispositions.
Corporate and Other includes salaries and overhead for corporate functions that are not allocated to the Company’s individual reporting segments because the operating performance of each reporting segment is evaluated by the Company's chief operating decision maker exclusive of these items, as well as certain other activities including Bunge Ventures, the Company's captive insurance activities, accounts receivable securitization activities, and certain income tax assets and liabilities.
Transfers between segments are generally valued at market. Segment revenues generated from these transfers are shown in the following table as “Inter-segment revenues.”
Three Months Ended June 30, 2024
(US$ in millions)
AgribusinessRefined and Specialty OilsMillingSugar and
Bioenergy		Corporate and OtherEliminationsTotal
Net sales to external customers$9,657 $3,121 $401 $49 $13 $— $13,241 
Inter–segment revenues1,841 46 11 — — (1,898)— 
Cost of goods sold(9,368)(2,806)(335)(48)(20)— (12,577)
Gross profit289 315 66 1 (7)— 664 
Selling, general and administrative expenses(150)(100)(24)(1)(174)— (449)
Foreign exchange (losses) gains – net(39)(2)(2)— 6 — (37)
EBIT - Noncontrolling interests (1)
7 (12)— — 1 — (4)
Other income (expense) - net56 (16)(1)— 18 — 57 
Income (loss) from affiliates(25)— (1)(21)1 — (46)
Total Segment EBIT (2)
138 185 38 (21)(155)— 185 
Total assets16,997 3,840 885 462 2,244 — 24,428 
Three Months Ended June 30, 2023
(US$ in millions)AgribusinessRefined and Specialty OilsMillingSugar and
Bioenergy		Corporate and OtherEliminationsTotal
Net sales to external customers$10,875 $3,601 $490 $72 $11 $— $15,049 
Inter–segment revenues1,999 56 — — — (2,055)— 
Cost of goods sold(9,878)(3,268)(450)(70)(18)— (13,684)
Gross profit997 333 40 2 (7)— 1,365 
Selling, general and administrative expenses(151)(98)(24)— (147)— (420)
Foreign exchange (losses) gains – net(64)5 (1)— (6)— (66)
EBIT - Noncontrolling interests (1)
1 (7)1 — 1 — (4)
Other income (expense) - net7 (16)(2)2 21 — 12 
Income (loss) from affiliates(5)— — 47 (17)— 25 
Total Segment EBIT (2)
785 217 14 51 (155)— 912 
Total assets17,789 3,883 1,086 382 2,572 — 25,712 
Six Months Ended June 30, 2024
(US$ in millions)AgribusinessRefined and Specialty OilsMillingSugar and
Bioenergy		Corporate and OtherEliminationsTotal
Net sales to external customers$19,397 $6,361 $782 $92 $26 $— $26,658 
Inter–segment revenues3,597 117 81 — — (3,795)— 
Cost of goods sold(18,654)(5,687)(656)(90)(31)— (25,118)
Gross profit743 674 126 2 (5)— 1,540 
Selling, general and administrative expenses(305)(200)(49)(1)(333)— (888)
Foreign exchange (losses) gains(101)(13)(2)— 1 — (115)
EBIT - Noncontrolling interests (1)
10 (18)— — 2 — (6)
Other income (expense) - net109 (32)(3)— 51 — 125 
Income (loss) from affiliates(40)— (1)2 1 — (38)
Total Segment EBIT (2)
416 411 71 3 (283)— 618 
Total assets16,997 3,840 885 462 2,244 — 24,428 
Six Months Ended June 30, 2023
(US$ in millions)AgribusinessRefined and Specialty OilsMillingSugar and
Bioenergy		Corporate and OtherEliminationsTotal
Net sales to external customers$21,727 $7,489 $1,005 $136 $20 $— $30,377 
Inter–segment revenues4,155 93 164 — — (4,412)— 
Cost of goods sold(19,922)(6,814)(934)(134)(27)— (27,831)
Gross profit1,805 675 71 2 (7)— 2,546 
Selling, general and administrative expenses(283)(193)(45)— (252)— (773)
Foreign exchange (losses) gains(25)10 (1)— (1)— (17)
EBIT - Noncontrolling interests (1)
(20)(11)1 — 1 — (29)
Other income (expense) - net18 (31)(3)2 41 — 27 
Income (loss) from affiliates(5)— — 66 (17)— 44 
Total Segment EBIT (2)
1,490 450 23 70 (235)— 1,798 
Total assets17,789 3,883 1,086 382 2,572 — 25,712 
(1)     Includes Net (income) attributable to noncontrolling interests and redeemable noncontrolling interests adjusted for noncontrolling interests' share of interest and taxes.
(2)     Total Segment earnings before interest and taxes ("EBIT") is an operating performance measure used by Bunge’s management to evaluate segment operating activities. Bunge’s management believes Total Segment EBIT is a useful measure of operating profitability, since the measure allows for an evaluation of the performance of its segments without regard to its financing methods or capital structure. In addition, EBIT is a financial measure that is widely used by analysts and investors in Bunge’s industry. Total Segment EBIT is a non-GAAP financial measure and is not intended to replace Net income (loss) attributable to Bunge, the most directly comparable U.S. GAAP financial measure. Further, Total Segment EBIT is not a measure of consolidated operating results under U.S. GAAP and should not be considered as an alternative to Net income (loss) or any other measure of consolidated operating results under U.S. GAAP. See the reconciliation of Total Segment EBIT to Net income (loss) attributable to Bunge in the table below.
A reconciliation of Net income (loss) attributable to Bunge to Total Segment EBIT follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(US$ in millions)2024202320242023
Net income (loss) attributable to Bunge$70 $622 $314 $1,254 
Interest income(37)(40)(79)(83)
Interest expense123 129 231 241 
Income tax expense (benefit)30 198 147 381 
Noncontrolling interests' share of interest and tax(1)3 5 5 
Total Segment EBIT $185 $912 $618 $1,798 
The Company’s revenue comprises sales from commodity contracts that are accounted for under ASC 815, Derivatives and Hedging ("ASC 815") and sales of other products and services that are accounted for under ASC 606, Revenue from Contracts with Customers ("ASC 606"). The following tables provide a disaggregation of Net sales to external customers between sales from commodity contracts (ASC 815) and sales from contracts with customers (ASC 606):
Three Months Ended June 30, 2024
(US$ in millions)AgribusinessRefined and Specialty OilsMillingSugar and
Bioenergy		Corporate and OtherTotal
Sales from commodity contracts (ASC 815)$9,185 $273 $1 $48 $— $9,507 
Sales from contracts with customers (ASC 606)472 2,848 400 1 13 3,734 
Net sales to external customers$9,657 $3,121 $401 $49 $13 $13,241 
Three Months Ended June 30, 2023
(US$ in millions)AgribusinessRefined and Specialty OilsMillingSugar and
Bioenergy		Corporate and OtherTotal
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 $15,049 
Six Months Ended June 30, 2024
(US$ in millions)AgribusinessRefined and Specialty OilsMillingSugar and
Bioenergy		Corporate and OtherTotal
Sales from commodity contracts (ASC 815)$18,470 $419 $1 $90 $— $18,980 
Sales from contracts with customers (ASC 606)927 5,942 781 2 26 7,678 
Net sales to external customers$19,397 $6,361 $782 $92 $26 $26,658 
Six Months Ended June 30, 2023
(US$ in millions)AgribusinessRefined and Specialty OilsMillingSugar and
Bioenergy		Corporate and OtherTotal
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