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BUNGE LTD
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Created by potrace 1.16, written by Peter Selinger 2001-2019
beatandraise.com
Created by potrace 1.16, written by Peter Selinger 2001-2019
beatandraise.com
beta
Latest Financials
Filings:
Category
Date
Search Filings
Institutional Holders
beta
Earnings Transcripts
beta
Global Search
SEC Edgar
BUNGE LTD
SIC 2070 · Fats & Oils
Support
about
terms
Created by potrace 1.16, written by Peter Selinger 2001-2019
beatandraise.com
beta
Latest Financials
Filings:
Category
Date
Search Filings
Institutional Holders
beta
Earnings Transcripts
beta
Global Search
SEC Edgar
BUNGE LTD
SIC 2070 · Fats & Oils
Support
about
terms
BUNGE LTD
CIK:
0001144519
|
SEC Filings
Income Statement
Cash Flow
Balance Sheet
v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]
Net sales
$ 14,227
$ 16,759
$ 44,604
$ 50,572
Cost of goods sold
(13,182)
(15,871)
(41,013)
(47,708)
Gross profit
1,045
888
3,591
2,864
Selling, general and administrative expenses
(447)
(337)
(1,220)
(979)
Interest income
38
30
121
50
Interest expense
(133)
(103)
(374)
(306)
Foreign exchange (losses) gains
(47)
(52)
(64)
(150)
Other income (expense) – net
8
40
35
(13)
Income (loss) from affiliates
39
30
83
95
Income (loss) before income tax
503
496
2,172
1,561
Income tax (expense) benefit
(114)
(113)
(495)
(257)
Net income (loss)
389
383
1,677
1,304
Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests
(16)
(3)
(50)
(30)
Net income (loss) attributable to Bunge
$ 373
$ 380
$ 1,627
$ 1,274
Earnings per common share—basic (Note 18)
Net income (loss) attributable to Bunge common shareholders—basic (in dollars per share)
$ 2.50
$ 2.52
$ 10.85
$ 8.59
Earnings per common share—diluted (Note 18)
Net income (loss) attributable to Bunge common shareholders—diluted (in dollars per share)
$ 2.47
$ 2.49
$ 10.71
$ 8.30
v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES
Net income (loss)
$ 1,677
$ 1,304
Adjustments to reconcile net income (loss) to cash provided by (used for) operating activities:
Impairment charges
56
86
Foreign exchange (gain) loss on net debt
(151)
(96)
Bad debt expense
8
23
Depreciation, depletion and amortization
317
305
Share-based compensation expense
51
47
Deferred income tax expense (benefit)
115
(92)
Results from affiliates
(100)
(95)
Other, net
57
80
Changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions:
Trade accounts receivable
306
(359)
Inventories
933
(229)
Secured advances to suppliers
(228)
26
Trade accounts payable and accrued liabilities
(690)
259
Advances on sales
(227)
(81)
Net unrealized (gains) losses on derivative contracts
(247)
(456)
Margin deposits
(111)
(55)
Recoverable and income taxes, net
(19)
(201)
Marketable securities
(17)
341
Beneficial interest in securitized trade receivables
0
(5,288)
Other, net
130
(550)
Cash provided by (used for) operating activities
1,860
(5,031)
INVESTING ACTIVITIES
Payments made for capital expenditures
(805)
(353)
Proceeds from investments
21
217
Payments for investments
(26)
(225)
Settlements of net investment hedges
(57)
(153)
Proceeds from beneficial interest in securitized trade receivables
85
5,176
Proceeds from disposals of businesses and property, plant and equipment
165
496
Payments for investments in affiliates
(136)
(55)
Other, net
107
10
Cash provided by (used for) investing activities
(646)
5,113
FINANCING ACTIVITIES
Net change in short-term debt with maturities of three months or less
161
842
Proceeds from short-term debt with maturities greater than three months
848
1,592
Repayments of short-term debt with maturities greater than three months
(593)
(1,600)
Proceeds from long-term debt
975
48
Repayments of long-term debt
(879)
(1,029)
Proceeds from the exercise of options for common shares
7
30
Repurchases of common shares
(466)
(200)
Dividends paid to common and preference shareholders
(287)
(256)
Capital contributions from (Return of capital to) noncontrolling interest
40
0
Sale of noncontrolling interest
0
521
Acquisition of redeemable noncontrolling interest and noncontrolling interest
0
(102)
Other, net
(19)
52
Cash provided by (used for) financing activities
(213)
(102)
Effect of exchange rate changes on cash and cash equivalents, restricted cash, and cash held for sale
40
112
Net increase (decrease) in cash and cash equivalents, restricted cash, and cash held for sale
1,041
92
Cash and cash equivalents, restricted cash, and cash held for sale - beginning of period
1,152
905
Cash and cash equivalents, restricted cash, and cash held for sale - end of period
$ 2,193
$ 997
v3.23.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current assets:
Cash and cash equivalents
$ 2,173
$ 1,104
Trade accounts receivable (less allowances of $101 and $90) (Note 4)
2,509
2,829
Inventories (Note 5)
7,548
8,408
Assets held for sale (Note 2)
1
36
Other current assets (Note 6)
4,393
4,381
Total current assets
16,624
16,758
Property, plant and equipment, net
4,283
3,617
Operating lease assets
864
1,024
Goodwill
472
470
Other intangible assets, net
417
360
Investments in affiliates
1,201
1,012
Deferred income taxes
632
712
Other non-current assets (Note 7)
640
627
Total assets
25,133
24,580
Current liabilities:
Short-term debt (Note 13)
914
546
Current portion of long-term debt (Note 13)
301
846
Trade accounts payable (includes $926 and $643 carried at fair value) (Note 11)
3,975
4,386
Current operating lease obligations
317
425
Liabilities held for sale (Note 2)
0
18
Other current liabilities (Note 10)
2,738
3,379
Total current liabilities
8,245
9,600
Long-term debt (Note 13)
3,967
3,259
Deferred income taxes
380
365
Non-current operating lease obligations
495
547
Other non-current liabilities (Note 16)
900
849
Redeemable noncontrolling interest
3
4
Equity (Note 17):
Common shares, par value $.01; authorized – 400,000,000 shares; issued and outstanding: 2023 – 146,368,303 shares, 2022 – 149,907,932 shares
1
1
Additional paid-in capital
6,727
6,692
Retained earnings
11,555
10,222
Accumulated other comprehensive income (loss) (Note 17)
(6,224)
(6,371)
Treasury shares, at cost; 2023 - 23,163,348 shares and 2022 - 18,835,812 shares
(1,808)
(1,320)
Total Bunge shareholders’ equity
10,251
9,224
Noncontrolling interests
892
732
Total equity
11,143
9,956
Total liabilities, redeemable noncontrolling interest and equity
$ 25,133
$ 24,580