Bunge Limited (BG) 10-K 1 Mar 10 2009 FY Annual report Financial data

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
CONSOLIDATED STATEMENTS OF INCOME
Net sales	$41,926	$52,574	$37,842
Cost of goods sold (Note 8)	(40,722)	(48,538)	(35,327)
Gross profit	1,204	4,036	2,515
Selling, general and administrative expenses	(1,342)	(1,613)	(1,359)
Interest income	122	214	166
Interest expense	(283)	(361)	(353)
Foreign exchange gain (loss)	469	(749)	217
Other income (expenses) - net	(25)	10	15
Income from operations before income tax	145	1,537	1,201
Income tax benefit (expense)	110	(245)	(310)
Income from operations after income tax	255	1,292	891
Equity in earnings of affiliates	80	34	33
Net income	335	1,326	924
Net loss (income) attributable to noncontrolling interest	26	(262)	(146)
Net income attributable to Bunge	361	1,064	778
Convertible preference share dividends	(78)	(78)	(40)
Net income available to Bunge common shareholders	$283	$986	$738
Earnings per common share - basic (Note 22)
Earnings to Bunge common shareholders (in dollars per share)	2.24	8.11	6.11
Earnings per common share - diluted (Note 22)
Earnings to Bunge common shareholders (in dollars per share)	2.22	7.73	5.95

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)
In Millions	Dec. 31, 2009	Dec. 31, 2008
Current assets:
Cash and cash equivalents	$553	$1,004
Trade accounts receivable (less allowance of $192 and $164) (Note 16)	2,363	2,350
Inventories (Note 3)	4,862	5,653
Deferred income taxes (Note 12)	506	268
Other current assets (Note 4)	3,499	3,901
Total current assets	11,783	13,176
Property, plant and equipment, net (Note 5)	5,347	3,969
Goodwill (Note 6)	427	325
Other intangible assets, net (Note 7)	170	107
Investments in affiliates (Note 9)	622	761
Deferred income taxes (Note 12)	979	864
Other non-current assets	1,958	1,028
Total assets	21,286	20,230
Current liabilities:
Short-term debt (Note 14)	166	473
Current portion of long-term debt (Note 15)	31	78
Trade accounts payable	3,275	4,158
Deferred income taxes (Note 12)	100	104
Other current liabilities (Note 10)	2,635	3,261
Total current liabilities	6,207	8,074
Long-term debt (Note 15)	3,618	3,032
Deferred income taxes (Note 12)	183	132
Other non-current liabilities	913	864
Shareholders' equity (Note 21):
Common shares, par value $.01; authorized - 400,000,000 shares; issued and outstanding: 2009 - 134,096,906 shares, 2008 - 121,632,456 shares	1	1
Additional paid-in capital	3,625	2,849
Retained earnings	3,996	3,844
Accumulated other comprehensive income (loss)	319	(811)
Total Bunge shareholders' equity	9,494	7,436
Noncontrolling interest	871	692
Total equity	10,365	8,128
Total liabilities and shareholders' equity	21,286	20,230
Mandatory convertible preference shares
Shareholders' equity (Note 21):
Preference shares - Mandatory convertible and Convertible perpetual	863	863
Convertible perpetual preference shares
Shareholders' equity (Note 21):
Preference shares - Mandatory convertible and Convertible perpetual	$690	$690

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Millions, except Share data	Dec. 31, 2009	Dec. 31, 2008
Trade accounts receivable, allowance (in dollars)	$192	$164
Common shares, par value (in dollars per share)	0.01	0.01
Common shares authorized	400,000,000	400,000,000
Common shares issued	134,096,906	121,632,456
Common shares outstanding	134,096,906	121,632,456
Mandatory convertible preference shares
Preference shares, par value (in dollars per share)	0.01	0.01
Preference shares authorized	862,455	862,455
Preference shares issued	862,455	862,455
Preference shares outstanding	862,455	862,455
Preference shares liquidation preference (in dollars per share)	$1,000	$1,000
Convertible perpetual preference shares
Preference shares, par value (in dollars per share)	0.01	0.01
Preference shares authorized	6,900,000	6,900,000
Preference shares issued	6,900,000	6,900,000
Preference shares outstanding	6,900,000	6,900,000
Preference shares liquidation preference (in dollars per share)	$100	$100

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
OPERATING ACTIVITIES
Net income (loss)	$335	$1,326	$924
Adjustments to reconcile net income to cash (used for) provided by operating activities:
Foreign exchange (gain) loss on debt	(606)	472	(285)
Impairment of assets	31	18	70
Bad debt expense	55	69	46
Depreciation, depletion and amortization	443	439	385
Stock-based compensation expense	17	66	48
Gain on sale of assets	(4)	(14)	(22)
Increase (decrease) in recoverable taxes provision	61	(9)	81
Deferred income taxes	(204)	(251)	(62)
Equity in earnings of affiliates	(80)	(34)	(33)
Changes in operating assets and liabilities, excluding the effects of acquisitions:
Trade accounts receivable	242	(338)	(319)
Inventories	1,636	(905)	(1,743)
Prepaid commodity purchase contracts	86	300	(184)
Secured advances to suppliers	221	(143)	207
Trade accounts payable	(1,427)	1,161	1,231
Advances on sales	(8)	(106)	190
Unrealized net gain/loss on derivative contracts	(175)	184	(530)
Margin deposits	(229)	8	(175)
Recoverable taxes	(471)	(428)	(58)
Accrued liabilities	(56)	207	299
Other - net	(235)	521	(481)
Cash (used for) provided by operating activities	(368)	2,543	(411)
INVESTING ACTIVITIES
Payments made for capital expenditures	(918)	(896)	(658)
Acquisitions of businesses (net of cash acquired) and intangible assets	(136)	(131)	(153)
Investments in affiliates	(8)	(71)	(39)
Related party (loans) repayments	(22)	47	(22)
Proceeds from disposal of property, plant and equipment	36	39	55
Proceeds from (payments for) investments	96	(94)	23
Cash used for investing activities	(952)	(1,106)	(794)
FINANCING ACTIVITIES
Net change in short-term debt with original maturities of 90 days or less	(342)	(687)	19
Proceeds from short-term debt with maturities greater than 90 days	1,140	1,887	1,105
Repayments of short-term debt with maturities greater than 90 days	(1,164)	(1,206)	(1,029)
Proceeds from long-term debt	2,774	1,967	2,030
Repayments of long-term debt	(2,242)	(2,819)	(1,203)
Proceeds from sale of preference shares, net			845
Proceeds from sale of common shares	763	7	32
Dividends paid to preference shareholders	(78)	(81)	(34)
Dividends paid to common shareholders	(103)	(87)	(80)
Dividends paid to noncontrolling interest	(17)	(154)	(18)
Capital contributions from noncontrolling interest in less than wholly-owned subsidiaries	87	27	95
Return of capital to noncontrolling interest	(44)
Cash provided by (used for) financing activities	774	(1,146)	1,762
Effect of exchange rate changes on cash and cash equivalents	95	(268)	59
Net (decrease) increase in cash and cash equivalents	(451)	23	616
Cash and cash equivalents, beginning of period	1,004	981	365
Cash and cash equivalents, end of period	$553	$1,004	$981

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $)
In Millions, except Share data	Convertible Preference Stock	Common Stock	Additional Paid-in Capital	Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Noncontrolling Interest		Total
Balance, at Dec. 31, 2006	$690	$1	$2,690	$2,350		($63)	[3]	$410		$6,078
Balance, (in shares) at Dec. 31, 2006	6,900,000	119,955,645
Comprehensive income-
Net income (loss)				778				146		924
Other comprehensive income (loss):
Foreign exchange translation adjustment, net of tax expense						731	[3]	93		824
Unrealized gains (losses) on commodity futures and foreign exchange contracts, net of tax benefit/(expense)						7	[3]			7
Unrealized investment gains (losses), net of tax benefit/(expense)						(6)	[3]			(6)
Reclassification of realized net (gains) losses to net income, net of tax (benefit)/expense						(7)	[3]			(7)
Pension liability adjustment, net of tax benefit/(expense)						7	[3]			7
Comprehensive income (loss), Total Shareholders' Equity										825
Total comprehensive income (loss)						732	[3]	93		1,749
Dividends on common shares				(80)						(80)
Dividends on preference shares				(40)						(40)
Dividends to noncontrolling interest on subsidiary common stock								(31)		(31)
Capital contribution from noncontrolling interest								104		104
Contribution related to exchange of subsidiaries stock in connection with merger of subsidiaries								38		38
Purchase of subsidiary shares from noncontrolling interest								(12)		(12)
Stock-based compensation expense			41							41
Tax liability standard adoption				(46)	[1]			4	[1]	(42)	[1]
Tax benefits (reversal of) related to employee stock plan, stock options and award plans			1							1
Issuance of preference shares, value	863		(18)							845
Issuance of preference shares, shares	862,500
Issuance of common shares:
-stock option and award plans, net of shares withheld for taxes			46							46
-stock option and award plans, net of shares withheld for taxes (in shares)		1,270,318
Balance, at Dec. 31, 2007	1,553	1	2,760	2,962		669	[3]	752		8,697
Balance, (in shares) at Dec. 31, 2007	7,762,500	121,225,963
Comprehensive income-
Net income (loss)				1,064				262		1,326
Other comprehensive income (loss):
Foreign exchange translation adjustment, net of tax expense						(1,346)	[3]	(181)		(1,527)
Unrealized gains (losses) on commodity futures and foreign exchange contracts, net of tax benefit/(expense)						(68)	[3]			(68)
Unrealized investment gains (losses), net of tax benefit/(expense)						(8)	[3]			(8)
Reclassification of realized net (gains) losses to net income, net of tax (benefit)/expense						(22)	[3]			(22)
Pension liability adjustment, net of tax benefit/(expense)						(36)	[3]	21		(15)
Comprehensive income (loss), Total Shareholders' Equity										(1,640)
Total comprehensive income (loss)						(1,480)	[3]	(160)		(314)
Pension measurement date adjustment, net of tax benefit of $2 in 2008 (Note 17)				(4)	[2]					(4)	[2]
Dividends on common shares				(87)						(87)
Dividends on preference shares				(91)						(91)
Dividends to noncontrolling interest on subsidiary common stock								(154)		(154)
Capital contribution from noncontrolling interest								26		26
Contribution related to exchange of subsidiaries stock in connection with merger of subsidiaries			13					(34)		(21)
Gain on sale of interest in subsidiary			13							13
Stock-based compensation expense			66							66
Tax benefits (reversal of) related to employee stock plan, stock options and award plans			(5)							(5)
Issuance of common shares:
-conversion of mandatory preference shares (in shares)	(45)	369
-stock option and award plans, net of shares withheld for taxes			2							2
-stock option and award plans, net of shares withheld for taxes (in shares)		406,124
Balance, at Dec. 31, 2008	1,553	1	2,849	3,844		(811)	[3]	692		8,128
Balance, (in shares) at Dec. 31, 2008	7,762,455	121,632,456
Comprehensive income-
Net income (loss)				361				(26)		335
Other comprehensive income (loss):
Foreign exchange translation adjustment, net of tax expense						1,062	[3]	190		1,252
Unrealized gains (losses) on commodity futures and foreign exchange contracts, net of tax benefit/(expense)						25	[3]			25
Unrealized investment gains (losses), net of tax benefit/(expense)						2	[3]			2
Reclassification of realized net (gains) losses to net income, net of tax (benefit)/expense						52	[3]			52
Pension liability adjustment, net of tax benefit/(expense)						(11)	[3]	(16)		(27)
Comprehensive income (loss), Total Shareholders' Equity										1,304
Total comprehensive income (loss)						1,130	[3]	174		1,639
Dividends on common shares				(131)						(131)
Dividends on preference shares				(78)						(78)
Dividends to noncontrolling interest on subsidiary common stock								(17)		(17)
Return of capital to noncontrolling interest								(44)		(44)
Capital contribution from noncontrolling interest								87		87
Consolidation of subsidiary								5		5
Purchase of additional shares in subsidiary from noncontrolling interest			(4)							(4)
Stock-based compensation expense			17							17
Tax benefits (reversal of) related to employee stock plan, stock options and award plans			6							6
Issuance of common shares:
-public equity offering			761							761
-public equity offering (in shares)		12,000,000
-stock option and award plans, net of shares withheld for taxes			(4)							(4)
-stock option and award plans, net of shares withheld for taxes (in shares)		464,450
Balance, at Dec. 31, 2009	$1,553	$1	$3,625	$3,996		$319	[3]	$871		$10,365
Balance, (in shares) at Dec. 31, 2009	7,762,455	134,096,906
[1]Note 12
[2]Note 17
[3]Note 21

1_CONSOLIDATED STATEMENTS OF SH

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Foreign exchange translation adjustment, tax expense	$0	$0	$0
Unrealized gains (losses) on commodity futures and foreign exchange contracts, tax (expense) benefit	(10)	31	(4)
Unrealized investment gains (losses), tax (expense) benefit	(1)	4	0
Reclassification of realized net losses (gains) to net income, tax (benefit) expense	(30)	15	5
Pension liability adjustment, tax (Accumulated Other Comprehensive Income (Loss))	6	21	(4)
Pension liability adjustment, tax (Noncontrolling Interest)	5	(11)
Pension measurement date adjustment, tax benefit		$2

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
	12 Months Ended Dec. 31, 2009 USD / shares
Schedule II - Valuation and Qualifying Accounts
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	BUNGE LIMITED ScheduleIIValuation and Qualifying Accounts (US$ in millions) Additions Description Balance at beginning of period Charged to costs and expenses Charged to other accounts(b) Deductions from reserves Balance at end of period FOR THE YEAR ENDED DECEMBER31,2007 Allowances for doubtful accounts(a) $ 224 42 36 (17 )(c) $ 285 Allowance for secured advances to suppliers $ 40 4 8 $ 52 Allowances for recoverable taxes $ 42 81 12 $ 135 Income tax valuation allowance $ 40 (3 ) 3 (7 )(e) $ 33 FOR THE YEAR ENDED DECEMBER31,2008 Allowances for doubtful accounts(a) $ 285 95 (46 ) (43 )(c) $ 291 Allowance for secured advances to suppliers $ 52 33 (14 ) (34 )(c) $ 37 Allowances for recoverable taxes $ 135 20 (37 ) (14 ) $ 104 Income tax valuation allowance $ 33 47 14 (d) $ 94 FOR THE YEAR ENDED DECEMBER31,2009 Allowances for doubtful accounts(a) $ 291 75 84 (100 )(c) $ 350 Allowance for secured advances to suppliers $ 37 21 17 $ 75 Allowances for recoverable taxes $ 104 34 31 (5 ) $ 164 Income tax valuation allowance $ 94 50 5 (33 ) $ 116 (a) This includes an allowance for doubtful accounts for current and non-current trade accounts receivables. (b) This consists primarily of foreign exchange translation adjustments. (c) Such amounts include write-offs of uncollectible accounts. (d) This includes a reclassification from uncertain tax liabilities and a deferred tax asset adjustment. (e) Such amount was reclassified to liabilities upon adoption of a FASB issued standard on income taxes, which requires applying a "more likely than not" threshold to the recognition and de-recognition of tax benefits.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Basis of Presentation and Significant Accounting Policies	1. Basis of Presentation and Significant Accounting Policies Description of BusinessBunge Limited is a Bermuda holding company. Bunge Limited, together with its consolidated subsidiaries through which Bunge's businesses are conducted (collectively, "Bunge"), is an integrated, global agribusiness and food company. Bunge Limited common shares trade on the New York Stock Exchange under the ticker symbol "BG." Bunge operates in three divisions, which include four reportable segments: agribusiness, fertilizer, edible oil products and milling products. AgribusinessBunge's agribusiness segment is an integrated business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products. Bunge's agribusiness operations and assets are located in North America, South America, Europe and Asia. Bunge's agribusiness segment also participates in related financial activities such as trade structured financing to leverage international trade flows and providing risk management services to customers by assisting them with managing price exposure to agricultural commodities. FertilizerBunge's fertilizer segment is involved in every stage of the fertilizer business, from mining of phosphate-based raw materials to the sale of blended fertilizer products. Bunge's fertilizer operations are primarily located in South America. See Note27 of the notes to the consolidated financial statements. Edible oil productsBunge's edible oil products segment consists of producing and selling edible oil products, such as packaged and bulk oils, shortenings, margarine, mayonnaise and other products derived from the vegetable oil refining process. Bunge's edible oil products operations are located in North America, Europe, Brazil, China and India. Milling productsBunge's milling products segment includes its wheat and corn milling businesses. The wheat milling business consists of producing and selling wheat flours. Bunge's wheat milling activities are located in Brazil. The corn milling business consists of producing and selling products derived from corn. Bunge's corn milling activities are located in the United States. Basis of Presentation and Principles of ConsolidationThe accompanying consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (U.S.GAAP) and include the assets, liabilities, revenues and expenses of all entities over which Bunge exercises control. Noncontrolling interest related to Bunge's ownership interests of less than 100% is reported as noncontrolling interest in subsidiaries in the consolidated balance sheets. The noncontrolling ownership interest in Bunge's earnings, net of tax, is reported as net (income) loss attributable to noncontrolling interest in the consolidated statements of income. Bunge evaluates its equity investments for consolidation in accordance with a standard issued by the FASB that provides guidance on entities subject to consolidation as well as how to consolidate. The standard focuses on controlling financial interests that may be achieved through arrangements that do not invo

Business Acquisitions

Business Acquisitions
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Business Acquisitions	2. Business Acquisitions In 2009, Bunge acquired the European margarine businesses of Raisioplc in its edible oil products segment for a purchase price of 81million Euros in cash which equated to approximately $115million, net of $5million of cash received. Based upon the preliminary determination of the fair values of assets and liabilities acquired, $38million was recorded as property, plant and equipment, $26million as other intangible assets, $50million as goodwill, $9million as net working capital and $(8) million as deferred tax liabilities. In addition, in 2009 Bunge's edible oil products segment acquired the assets of a U.S. vegetable shortening business for $11million in cash. Upon completion of the determination of the fair values of assets and liabilities acquired, $8million was recorded as property, plant and equipment, $1million as intangible assets and $2million as inventories. In 2009, Bunge finalized the purchase price allocations related to the 2008 acquisitions of a sugarcane mill and a wheat milling business in Brazil. The purchase price for the sugarcane mill acquisition was $54million, consisting of $28million in cash, an $8million short-term note payable and $18million of assumed long-term debt. Bunge had preliminarily recognized $28million of goodwill in its agribusiness segment as a result of this transaction. Upon the completion of the purchase price allocation, goodwill was reduced by $12million with $12million reallocated to property, plant and equipment, $6million to intangible assets and $(6) million to deferred tax liabilities. The purchase price for the wheat milling business was $17million in cash. Bunge had preliminarily recognized $14million of goodwill in its milling products segment as a result of this transaction. Upon the 2009 completion of the purchase price allocation, this $14million of goodwill was reallocated with $2million allocated to property, plant and equipment, $19million to other intangible assets and $(7) million to deferred tax liabilities. Bunge also completed the purchase price allocations during 2009 for the 2008 acquisition of a 50% interest in the owner/operator of a port facility in Vietnam through the acquisition of 100% of a company which owns the 50% interest. Bunge determined that its total variable interests in the owner/operator of the port facility, including its ownership share as well as port management responsibilities and an operational throughput agreement, require consolidation of the owner/operator in its consolidated financial statements under the provisions of a FASB issued standard that provides guidance on entities subject to consolidation as well as how to consolidate. The purchase price was $14million. Based on the 2008 preliminary purchase price allocation, Bunge recorded $6million of other intangible assets in its agribusiness segment. Upon the finalization of the purchase price allocation in 2009, $7million was allocated to other intangible assets and $(1) million to deferred tax liabilities. In March 2008, Bunge acquired a European margarine producer based in Germany for a purchase price of $31million, consisting of $25million in cash and $6millio

Inventories

Inventories
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Inventories	3. Inventories Inventories consist of the following: December31, (US$ in millions) 2009 2008 AgribusinessReadily marketable inventories at fair value (1) $ 3,218 $ 2,619 Fertilizer (2) 749 1,875 Edible oils (3) 371 444 Milling (3) 118 113 Other (4) 406 602 Total $ 4,862 $ 5,653 (1) Readily marketable inventories are agricultural commodity inventories that are readily convertible to cash because of their commodity characteristics, widely available markets and international pricing mechanisms. (2) Inventories are carried at lower of cost or market. (3) Inventories carried at lower of cost or market except for readily marketable inventories at fair value in the aggregate amount of $162million and $122million at December31, 2009 and 2008, respectively. (4) Agribusiness inventories carried at lower of cost or market.

Other Current Assets

Other Current Assets
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Other Current Assets	4. Other Current Assets Other current assets consist of the following: December31, (US$ in millions) 2009 2008 Prepaid commodity purchase contracts (1) $ 110 $ 115 Secured advances to suppliers (2) 275 423 Unrealized gains on derivative contracts 1,202 1,810 Recoverable taxes (3) 680 518 Margin deposits (4) 530 301 Other 702 734 Total $ 3,499 $ 3,901 (1) Prepaid commodity purchase contracts represent advance payments against fixed priced contracts for future delivery of specified quantities of agricultural commodities. These contracts are recorded at fair value based on prices of the underlying agricultural commodities. (2) Bunge provides cash advances to suppliers, primarily Brazilian farmers of soybeans and other agricultural commodities, to finance a portion of the suppliers' production costs. These advances are strictly financial in nature. Bunge does not bear any of the costs or risks associated with the related growing crops. The advances are largely collateralized by future crops and physical assets of the suppliers, carry a local market interest rate and settle when the farmer's crop is harvested and sold. In addition to current secured advances, Bunge has non-current secured advances, net to suppliers, primarily farmers in Brazil, in the amount of $308million and $253million at December31, 2009 and 2008, respectively, that are included in other non-current assets in the consolidated balance sheets. The repayment terms of the non-current secured advances generally range from two to three years. Included in the secured advances to suppliers recorded in other current assets are advances that were renegotiated from their original terms, equal to an aggregate of $36million and $46million at December31, 2009 and 2008, respectively. Included in the secured advances to suppliers recorded in other non-current assets are advances that were renegotiated from their original terms, equal to an aggregate of $20million and $33million at December31, 2009 and 2008, respectively. These renegotiated advances are largely collateralized by future crops and mortgages on assets such as land, buildings and equipment. Also included in non-current secured advances to suppliers are advances for which Bunge has initiated legal action to collect the outstanding balance or obtain title to the assets pledged by the farmers as collateral, equal to an aggregate of $264million and $182million at December31, 2009 and 2008, respectively. Collections being pursued through legal action largely reflect loans made for the 2006 and 2005 crop years. The allowance for uncollectible advances totaled $75million and $37million at December31, 2009 and December31, 2008, respectively. Interest earned on secured advances to suppliers of $41million, $48million and $57million for 2009, 2008 and 2007, respectively, is included in net sales in the consolidated statements of income. (3) Bunge has an additional recoverable taxes balance of $769million and $266million at December31, 2009 and 2008, respectively, which is included in other non-cu

Property, Plant and Equipment

Property, Plant and Equipment
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Property, Plant and Equipment	5. Property, Plant and Equipment Property, plant and equipment consist of the following: December31, (US$ in millions) 2009 2008 Land $ 347 $ 255 Mining properties 301 224 Buildings 2,068 1,564 Machinery and equipment 4,681 3,487 Furniture, fixtures and other 571 378 7,968 5,908 Less: accumulated depreciation and depletion (3,632 ) (2,661 ) Plus: construction in progress 1,011 722 Total $ 5,347 $ 3,969 Bunge capitalized expenditures of $1,001million, $1,003million and $718million in 2009, 2008 and 2007, respectively. In addition, included in these capitalized expenditures was capitalized interest on construction in progress of $26million, $18million and $15million in 2009, 2008 and 2007, respectively. Depreciation and depletion expense was $427million, $428million and $374million in 2009, 2008 and 2007, respectively.

Goodwill

Goodwill
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Goodwill	6. Goodwill Bunge performed its annual impairment test in the fourth quarters of 2009, 2008 and 2007. There was no impairment of goodwill for the years ended December31, 2009 and 2008. Bunge recorded goodwill impairment charges of $13million for the year ended December31, 2007 related to certain packaged oil brands in Europe and Asia in its edible oil products segment. The impairments were a result of a decline in market conditions in Asia and Bunge's continued business realignment in Europe. The changes in the carrying amount of goodwill by segment at December31, 2009 and 2008 are as follows: (US$ in millions) Agribusiness Edible Oil Products Milling Products Total Balance, January1, 2008 $ 318 $ 27 $ 9 $ 354 Goodwill acquired (1) 35 22 14 71 Reallocation of acquired goodwill (1) (2) (16 ) (16 ) Tax benefit on goodwill amortization (3) (7 ) (7 ) Foreign exchange translation (61 ) (12 ) (4 ) (77 ) Balance, December31, 2008 269 37 19 325 Goodwill acquired (1) 50 50 Reallocation of acquired goodwill (1) (2) (12 ) (7 ) (14 ) (33 ) Tax benefit on goodwill amortization (3) (6 ) (6 ) Foreign exchange translation 83 3 5 91 Balance, December31, 2009 $ 334 $ 83 $ 10 $ 427 (1) See Note2 of the notes to the consolidated financial statements. (2) In 2009, Bunge was released from an obligation of approximately $7million recorded as part of the purchase accounting for edible oil products assets acquired in 2008. The release from this obligation was recorded in 2009 as a reduction of goodwill in the edible oil products segment. (3) Bunge's Brazilian subsidiary's tax deductible goodwill is in excess of its book goodwill. For financial reporting purposes, the tax benefits attributable to the excess tax goodwill are first used to reduce associated goodwill and then other intangible assets to zero, prior to recognizing any income tax benefit in the consolidated statements of income.

Other Intangible Assets

Other Intangible Assets
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Other Intangible Assets	7. Other Intangible Assets Intangible assets consist of the following: December31, (US$ in millions) 2009 2008 Trademarks/brands, finite-lived $ 130 $ 98 Licenses 12 2 Other 72 35 214 135 Less accumulated amortization: Trademarks/brands (1) (47 ) (38 ) Licenses (2 ) (2 ) Other (23 ) (10 ) (72 ) (50 ) Trademarks/brands, indefinite-lived 28 22 Intangible assets, net of accumulated amortization $ 170 $ 107 (1) Bunge's Brazilian agribusiness segment subsidiary's tax deductible goodwill is in excess of its book goodwill. For financial reporting purposes, prior to recognizing any income tax benefit of tax deductible goodwill in excess of its book goodwill in the consolidated statements of income and after the related book goodwill has been reduced to zero, any such remaining tax deductible goodwill in excess of its book goodwill is used to reduce other intangible assets to zero. In 2008, the subsidiary adjusted the carrying value of trademarks/brands, finite-lived for tax benefits received on tax goodwill in excess of book goodwill. In 2009, Bunge acquired assets including $25million of trademarks and brands, $1million in licenses and $5million of other intangible assets in its edible oils products segment and assigned lives to these assets ranging from 3 and 20years. In addition, $5million of licenses acquired in 2009 in its agribusiness segment were assigned a 50-year life. Also, as discussed in Note2 of the notes to the consolidated financial statements, Bunge completed purchase price allocations in 2009 related to certain 2008 acquisitions, which resulted in the recording of $3million and $4million to licenses and other intangible assets, respectively, in the agribusiness segment and $19million to other intangible assets in the milling products segment with lives ranging from 5 to 40years. In 2008, Bunge acquired $9million of brands in its edible oil products segment in Europe and assigned a life of 20years to these brands. The aggregate amortization expense for other intangible assets was $16million, $11million and $11million for 2009, 2008 and 2007, respectively. In 2007, there was an $11million write-down of brands (see Note8 of the notes to the consolidated financial statements). The annual estimated aggregate amortization expense for other intangible assets for 2010 is approximately $17million and approximately $13million per year 2011 to 2014.

Impairment and Restructuring Ch

Impairment and Restructuring Charges
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Impairment and Restructuring Charges	8. Impairment and Restructuring Charges ImpairmentIn 2009, Bunge recorded pretax non-cash impairment charges of $5million in cost of goods sold in its agribusiness segment, relating to the permanent closure of a smaller, older and less efficient oilseed processing and refining facility in Brazil. In addition, Bunge recorded $26million of pretax non-cash impairment charges in selling, general and administrative expenses in its agribusiness segment, relating to the write-down of certain real estate assets in South America and an equity investment in a U.S. biodiesel production and marketing company. The fair values of the real estate assets were determined by using third-party valuations. The fair value of the U.S. biodiesel investment was determined utilizing projected cash flows of the biodiesel production and marketing company. In 2008, Bunge recorded pretax non-cash impairment charges of $16million and $2million in cost of goods sold in its agribusiness and edible oil products segments, respectively, relating to the permanent closures of a smaller, older and less efficient oilseed processing and refining facility in Europe and a smaller, older and less efficient oilseed processing plant in the United States. The fair values of land and equipment at these facilities were determined by using third-party valuations. In 2007, Bunge recorded pretax non-cash impairment charges of $70million. These charges included $22million, $35million and $13million in its agribusiness, edible oil products and milling products segments, respectively, relating to management decisions to permanently close all or substantial portions of certain smaller, older and less efficient facilities, which included four oilseed processing, refining and packaging facilities in Europe, an oilseed processing facility and an edible oil products packaging facility in the United States, a wheat milling facility in Brazil and a corn milling facility in Canada. The fair values of land and equipment at these facilities were determined by using third-party valuations. In addition to the facility impairments, 2007 pretax impairment charges included $11million of impairments related to certain brands, related goodwill and other intangible assets in India as a result of declining returns on those assets. The fair values of the brands and related intangibles were determined by using a third-party valuation. For the year ended December31, 2007, $59million of impairment charges were recorded in cost of goods sold related to the facility closures and the $11million of write-downs of brands and related intangible assets were recorded in selling, general and administrative expenses. RestructuringIn 2009, Bunge recorded pretax restructuring charges of $16million in cost of goods sold related to its European and Brazilian businesses. These charges consisted of termination benefit costs of $10million, $3million and $3million in the agribusiness, edible oil products and fertilizer segments, respectively. In the agribusiness segment, termination costs related to benefit obligations associated with approximately 48 plant employees related to the closure of a European oilseed processi

Investments in Affiliates

Investments in Affiliates
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Investments in Affiliates	9. Investments in Affiliates Bunge participates in several unconsolidated joint ventures and other investments accounted for on the equity method. The most significant of these at December31, 2009 are described below. Bunge allocates equity in earnings of affiliates to its reporting segments. Agribusiness Terminal 6S.A. and Terminal 6 IndustrialS.A.Bunge has a joint venture in Argentina with Aceitera General DehezaS.A. (AGD), for the operation of the Terminal 6 port facility located in the Santa Fe province of Argentina. Bunge is also a party to a second joint venture with AGD that operates a crushing facility located adjacent to the Terminal 6 port facility. Bunge owns 40% and 50%, respectively, of these joint ventures. The Solae Company.Solae is a joint venture with E.I. du Pont de Nemours and Company. Solae is engaged in the global production and distribution of soy-based ingredients, including soy proteins and lecithins. Bunge has a 28.06% interest in Solae. AGRI-Bunge,LLC.Bunge has a joint venture in the United States with AGRI Industries. The joint venture originates grain and operates Mississippi river terminals. Bunge has 50% voting power and a 34% interest in the equity and earnings of AGRI-Bunge,LLC. Diester Industries InternationalS.A.S. (DII).Bunge is a party to a joint venture with Diester Industries, a subsidiary of Sofiproteol, specializing in the production and marketing of biodiesel in Europe. Bunge has a 40% interest in DII. Bunge-Ergon Vicksburg,LLC (BEV).Bunge is a 50% owner of BEV along with Ergon Ethanol,Inc. BEV operates an ethanol plant at the Port of Vicksburg, Mississippi, where Bunge operates grain elevator facilities. Southwest Iowa Renewable Energy,LLC (SIRE).Bunge is a 26% owner of SIRE. The other owners are primarily agricultural producers located in Southwest Iowa. SIRE operates an ethanol plant near Bunge's oilseed processing facility in Council Bluffs, Iowa. EcofuelS.A.Bunge is a 50% owner of this company along with AGD in Argentina. The company manufactures biodiesel products in the Santa Fe province of Argentina. Fertilizers FosbrasilS.A.Bunge is a 44.25% owner of this joint venture in Brazil with Astaris BrasilLtda. and Socit Chimique Prayon- RupelS.A. FosbrasilS.A. operates an industrial plant in Cajati, So Paulo, Brazil that converts phosphoric acid used in animal nutrition into phosphoric acid for human consumption. Bunge Maroc PhosphoreS.A.Bunge has a 50% interest in this joint venture, to produce fertilizers in Morocco with Office Cherifien Des Phosphates (OCP). The joint venture was formed to produce fertilizer products in Morocco for shipment to Brazil, Argentina and certain other markets in Latin America. In 2008, Bunge contributed $61million to this joint venture. Food Products SaipolS.A.S.In December 2009, Bunge sold its 33.34% interest in Saipol to Soprol, an oilseed division of Sofiproteol, the financial arm of the French oilseed farmers' association. Bunge will receive the proceeds from the sale of Saipol of 145million Euros, or its equivalent of approximately $209million, in four equal annual installments including interest with the first beginning

Other Current Liabilities

Other Current Liabilities
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Other Current Liabilities	10. Other Current Liabilities Other current liabilities consist of the following: December31, (US$ in millions) 2009 2008 Accrued liabilities $ 1,046 $ 1,110 Unrealized loss on derivative contracts 1,250 1,775 Advances on sales 253 261 Other 86 115 Total $ 2,635 $ 3,261

Asset Retirement Obligations

Asset Retirement Obligations
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Asset Retirement Obligations	11. Asset Retirement Obligations Bunge has asset retirement obligations with carrying amounts totaling $71million and $36million at December31, 2009 and 2008, respectively. Asset retirement obligations are primarily in the fertilizer segment, related to restoration of land used in its mining operations (see Note27 of the notes to the consolidated financial statements); in the agribusiness segment, related to the restoration of leased land to its original state and removal of the plants upon termination of the leases; and in its edible oil products segment, related to the removal of certain storage tanks associated with edible oil refining facilities. The change in carrying value of asset retirement obligations in 2009 consisted of a $13million increase of the initial obligation, which resulted from an decrease in the discount rate used to calculate the present value ($8million in the fertilizer segment, $4million in the agribusiness segment and $1million in the edible oil products segment), an increase of $9million for accretion expense and an increase of $13million related to currency translation. The change in carrying value of asset retirement obligations in 2008 consisted of a $13million decrease of the initial obligation, which resulted from an increase in the discount rate used to calculate the present value ($11million in the fertilizer segment and $2million in the edible oil products segment), an increase of $9million for accretion expense and a decrease of $15million related to currency translation.

Income Taxes

Income Taxes
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Income Taxes	12. Income Taxes Bunge operates globally and is subject to the tax laws and regulations of numerous tax jurisdictions and authorities, as well as tax agreements and treaties among these jurisdictions. Bunge's tax provision is impacted by, among other factors, changes in tax laws, regulations, agreements and treaties, currency exchange rates, and Bunge's profitability in each taxing jurisdiction. Bunge records valuation allowances when it is more likely than not that some portion or all of its deferred tax assets might not be realized. The ultimate realization of deferred tax assets depends primarily on Bunge's ability to generate sufficient timely future income of the appropriate character in the appropriate taxing jurisdiction. Bunge has elected to use the U.S. federal income tax rate to reconcile the actual provision for income taxes. The components of income from operations before income tax are as follows: Year Ended December31, (US$ in millions) 2009 2008 2007 United States $ 184 $ 126 $ 126 Non-United States (39 ) 1,411 1,075 Total $ 145 $ 1,537 $ 1,201 The components of the income tax (expense) benefit are: Year Ended December31, (US$ in millions) 2009 2008 2007 Current: United States $ (58 ) $ (12 ) $ (7 ) Non-United States (39 ) (511 ) (348 ) (97 ) (523 ) (355 ) Deferred: United States (13 ) (22 ) (27 ) Non-United States 217 273 89 204 251 62 Uncertain: United States (2 ) (1 ) (2 ) Non-United States 5 28 (15 ) 3 27 (17 ) Total $ 110 $ (245 ) $ (310 ) Reconciliation of the income tax benefit (expense) if computed at the U. S. Federal income tax rate to Bunge's reported income tax benefit (expense) is as follows: Year Ended December31, (US$ in millions) 2009 2008 2007 Income from operations before income tax $ 145 $ 1,537 $ 1,201 Income tax rate 35 % 35 % 35 % Income tax expense at the U.S. Federal tax rate (51 ) (538 ) (420 ) Adjustments to derive effective tax rate: Foreign earnings taxed at different statutory rates 163 166 154 Changes in valuation allowances (17 ) (47 ) 3 Goodwill amortization 31 23 8 Benefit from interest on capital dividends paid by Brazilian companies 1 14 29 Investment tax credits 22 45 28 Foreign exchange on monetary items (11 ) 69 (46 ) Tax rate changes (9 ) Non deductible expenses (35 ) (35 ) (28 ) Uncertain tax positions 3 27 (17 ) Other 4 31 (12 ) Income tax benefit (expense) $ 110 $ (245 ) $ (310 ) Bunge's subsidiaries had undistributed earnings amounting to $4,198million at De

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Financial Instruments and Fair Value Measurements	13. Financial Instruments and Fair Value Measurements Bunge's various financial instruments include certain components of working capital such as cash and cash equivalents, trade accounts receivable and accounts payable. Additionally, Bunge uses short- and long-term debt to fund operating requirements. Cash and cash equivalents, trade accounts receivable and accounts payable and short-term debt are stated at their carrying value, which is a reasonable estimate of fair value. All derivative instruments and marketable securities are stated at fair value. Fair value is the expected price that would be received for an asset or paid to transfer a liability (an exit price) in Bunge's principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Bunge determines the fair values of its readily marketable inventories, derivative contracts, and certain other assets based on the fair value hierarchy established in a FASB issued standard, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs are inputs based on market data obtained from sources independent of Bunge that reflect the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are inputs that are developed based on the best information available in circumstances that reflect Bunge's own assumptions based on market data and on assumptions that market participants would use in pricing the asset or liability. The standard describes three levels within its hierarchy that may be used to measure fair value. Level1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level1 assets and liabilities include exchange traded derivative contracts. Level2: Observable inputs, including Level1 prices (adjusted); quoted prices for similar assets or liabilities; quoted prices in markets that are less active than traded exchanges; and other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level2 assets and liabilities include readily marketable inventories and over-the-counter (OTC) commodity purchase and sales contracts and other OTC derivatives whose value is determined using pricing models with inputs that are generally based on exchange traded prices, adjusted for location specific inputs that are primarily observable in the market or can be derived principally from or corroborated by observable market data. Level3: Unobservable inputs that are supported by little or no market activity and that are a significant component of the fair value of the assets or liabilities. In evaluating the significance of fair value inputs, Bunge gives consideration to items that individually, or when aggregated with other inputs, generally represent more than 10% of the fair value of the assets or liabilities. For such identified inputs, judgments are required when evaluating both quantitative and qualitative factors in the determination of significance for purposes of fai

Short-Term Debt and Credit Faci

Short-Term Debt and Credit Facilities
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Short-Term Debt and Credit Facilities	14. Short-Term Debt and Credit Facilities Bunge's short-term borrowings are typically sourced from various banking institutions and the U.S. commercial paper market. Bunge also borrows from time to time in local currencies in various foreign jurisdictions. The weighted-average interest rate, which includes related fees, on short-term borrowings as of December31, 2009 and 2008 was 12.54% and 10.40%, respectively. December31, (US$ in millions) 2009 2008 Lines of credit: Secured 4 Unsecured, variable interest rates from 1.23% to 13.25%, 33.74% (1) 166 469 Total short-term debt $ 166 $ 473 (1) Includes $48million of local currency borrowings in Eastern Europe at a weighted-average interest rate of 33.74% as of December31, 2009. At December31, 2009, Bunge had no outstanding amounts under its $600million commercial paper program. The commercial paper program is supported by committed back-up bank credit lines (the liquidity facility) provided by lending institutions that are rated at least A-1 by SP and P-1 by Moody's Investor Services and are equal to the amount of the commercial paper program. In 2009, the short-term credit rating of one participant lending institution with a $25million lending commitment the liquidity facility was lowered by Standard Poors below A-1 and accordingly this lending institution has been removed from the liquidity facility. As a result, the liquidity facility, and consequently, Bunge's commercial paper program has been reduced to $575million from $600million. The liquidity facility, which matures in June 2012, permits Bunge, at its option, to set up direct borrowings or issue commercial paper in an aggregate amount of up to $575million. The cost of borrowing under the liquidity facility would typically be higher than the cost of borrowing under the commercial paper program. At December31, 2009, no borrowings were outstanding under these committed back-up bank credit lines. Revolving credit facilitiesIn June 2009, Bunge entered into a syndicated $645million, 364-day revolving credit agreement that matures on June2, 2010 with a number of lending institutions. The credit agreement replaced the $850million revolving credit agreement that was scheduled to mature on November17, 2009 which was terminated in accordance with its terms on June3, 2009. The amount due under the terminated credit agreement on the date of termination was repaid with the proceeds of its initial borrowing under the credit agreement. Borrowings under the credit agreement will bear interest at LIBOR plus the applicable margin (defined below) or the alternate base rate then in effect plus the applicable margin minus 1.00%. The margin applicable to either a LIBOR or alternate base rate borrowing will be based on the greater of (i)a per annum floor rate that varies between 2.00% and 4.50% based generally on the credit ratings of Bunge's senior long-term unsecured debt and (ii)a per annum rate calculated as a percentage of the Markit CDX.NA.IG Series12 five-year credit default swap index (or successor index thereof) that varies between 85% and

Long-Term Debt

Long-Term Debt
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Long-Term Debt	15. Long-Term Debt Long-term obligations are summarized below: December31, (US$ in millions) 2009 2008 Term loans due 2011LIBOR (1) plus 1.25% to 1.75% $ 475 $ 475 Term loan due 2011fixed interest rate of 4.33% 250 250 Japanese Yen term loan due 2011Yen LIBOR (2) plus 1.40% 108 110 6.78% Senior Notes, SeriesB, due 2009 53 7.44% Senior Notes, SeriesC, due 2012 351 351 7.80% Senior Notes due 2012 200 200 5.875% Senior Notes due 2013 300 300 5.35% Senior Notes due 2014 500 500 5.10% Senior Notes due 2015 382 382 5.90% Senior Notes due 2017 250 250 8.50% Senior Notes due 2019 600 BNDES (3) loans, variable interest rate indexed to TJLP (4) plus 3.20% to 4.50% payable through 2016 106 87 Other 127 152 3,649 3,110 Less: Current portion of long-term debt (31 ) (78 ) Total long-term debt $ 3,618 $ 3,032 (1) One-, three- and six-month LIBOR at December31, 2009 were 0.23%, 0.25% and 0.43% per annum, respectively, and at December31, 2008 were 0.44%, 1.43% and 1.75% per annum, respectively. (2) Three-month Yen LIBOR at December31, 2009 and 2008 was 0.28% and 0.83%, respectively. (3) BNDES loans are Brazilian government industrial development loans. (4) TJLP is a long-term interest rate published by the Brazilian government on a quarterly basis. The annualized rate for 2009 and 2008 was 6.13% and 6.25%, respectively. The fair value of long-term debt at December31, 2009 and 2008 was $3,796million and $3,034million calculated based on interest rates currently available on comparable maturities to companies with credit standing similar to that of Bunge. Revolving credit facilitiesIn June 2009, Bunge entered into a syndicated $1billion, three-year revolving credit agreement that matures on June1, 2012 with a number of lending institutions. The credit agreement replaced the $850million revolving credit agreement that was scheduled to mature on June29, 2009, which was terminated in accordance with its terms on June3, 2009. The amount due under the terminated credit agreement on the date of termination was repaid with the proceeds of its initial borrowing under the credit agreement. Borrowings under the credit agreement will bear interest at LIBOR plus the applicable margin (defined below) or the alternate base rate then in effect plus the applicable margin minus 1.00%. The margin applicable to either a LIBOR or alternate base rate borrowing will be based on the greater of (i)a per annum floor rate that varies between 3.00% and 5.50%, based generally on the credit ratings of Bunge's senior long-term unsecured debt and (ii)a per annum rate calculated as a percentage of the Markit CDX.NA.IG Series12 five-year credit default swap index (or successor index thereof) that varies between 85% and 175%, based generally on the credit ratings of Bunge's senior long-term unsecured debt. Amounts under the credit agreement that remain undrawn are subject to a commitment fee payable quarterly on the average undrawn p

Accounts Receivable Securitizat

Accounts Receivable Securitization Facilities
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Accounts Receivable Securitization Facilities	16. Accounts Receivable Securitization Facilities Certain of Bunge's European subsidiaries have an established accounts receivable securitization facility (Euro securitization facility). Through the Euro securitization facility, Bunge's European subsidiaries may offer to sell and the investor has the option to buy, without recourse, on a monthly basis certain eligible trade accounts receivable up to a maximum amount of Euro200million. Eligible accounts receivable are based on accounts receivable in certain designated European countries. Bunge accounts for its transfers/sales of accounts receivable in accordance with FASB issued standards that provide guidance for transfers and servicing of financial assets. Bunge's European subsidiaries retain collection and administrative responsibilities for the accounts receivable sold. At the time an account receivable is sold and title transferred, it is removed from the consolidated balance sheet and the proceeds are included in cash provided by operating activities. The effective yield rates on the accounts receivable sold are based on monthly EUR LIBOR plus 0.295% per annum, which includes the cost of the program and certain other administrative fees. In the years ended December31, 2009, 2008 and 2007, Bunge recognized expenses of approximately $5million, $13million and $13million, respectively, in selling, general and administrative expenses in the consolidated statements of income related to the Euro securitization facility. The initial term of the Euro securitization facility expires in 2010, but it may be terminated earlier upon the occurrence of certain limited circumstances. Bunge's European subsidiaries retain beneficial interests in certain accounts receivable that do not qualify as sales under the FASB issued standards. The beneficial interests are subordinate to the investors' interests and are valued at historical cost, which approximates fair value. The beneficial interests are recorded in other current assets in the consolidated balance sheets. At December31, 2009 and 2008, Bunge sold approximately $198million and $325million, respectively, of accounts receivable to the Euro securitization facility, of which it has retained $56million and $91million, respectively, of beneficial interests in certain accounts receivable that did not qualify as sales. In addition, Bunge recorded an allowance for doubtful accounts of $8million and $11million against the beneficial interests at December31, 2009 and 2008, respectively, in other current assets in the consolidated balance sheets. Bunge has two revolving accounts receivable securitization facilities, through its wholly owned North American operating subsidiaries. Through agreements with certain financial institutions, Bunge may sell, on a revolving basis, undivided percentage ownership interests (undivided interests) in designated pools of accounts receivable without recourse up to a maximum amount of approximately $221million. Collections reduce accounts receivable included in the pools, and are used to purchase new receivables, which become part of the pools. The $150million facility expires in July 2010. The effective rate on th

Pension Plans

Pension Plans
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Pension Plans	17. Pension Plans Employee Defined Benefit PlansCertain U.S., Canadian and European based subsidiaries of Bunge sponsor non-contributory defined benefit pension plans covering substantially all employees of the subsidiaries. The plans provide benefits based primarily on participants' salary and length of service. In addition, one of Bunge's Brazil-based fertilizer subsidiaries, Ultrafertil,SA (Ultrafertil), is a participating sponsor in a frozen multiple-employer defined benefit pension plan (the "Petros Plan") that is managed by Fundaao Petrobras de Securidade Social (Petros). The Petros Plan began in 1970 prior to the Brazilian government's deregulation of the fertilizer industry in Brazil. With the deregulation, spun-off operating companies, including Bunge's subsidiary Ultrafertil, were allocated the portion of the frozen plan's obligations related to plan participants who could be specifically identified with those operating companies. In addition, a share of the plan's pooled assets was allocated to each of the spun-off operating companies, although assets remain pooled under the management control of Petros. Ultrafertil does not have control or significant influence over the plan's assets or investment policies. The funding policies for Bunge's defined benefit pension plans are determined in accordance with statutory funding requirements. The most significant defined benefits plans are the Petros Plan and plans in the United States. The U.S. funding policy requires at least those amounts required by the Pension Protection Act of 2006. Assets of the plans consist primarily of equity and fixed income investments. The Petros Plan is funded in accordance with Brazilian statutory requirements. Plan Amendments and Transfers In.In 2009, there was a transfer in which resulted from certain plan combinations in Bunge's European operations. There were no significant amendments to Bunge's employee benefit plans during the years ended December31, 2008 or 2007. Plan Settlement.In 2009, Bunge terminated certain of its Canadian plans which resulted in a $7million settlement. There were no significant amendments to Bunge's employee benefit plans during the years ended December31, 2008 or 2007. Measurement Date.On December31, 2008, Bunge adopted the measurement date provision of a FASB standard, which requires the measurement of defined benefit postretirement plan assets and benefit obligations as of the end of Bunge's fiscal year. Bunge elected the second transition approach under the measurement date provision of the standard, in which an employer uses earlier measurements determined for the year end reporting as of the fiscal year immediately preceding the year that the measurement date provisions are applied to estimate the effects of the change in measurement date. Bunge used a September30 measurement date for its fiscal 2007year end reporting of U.S. and certain foreign defined benefit postretirement plan assets and benefit obligations and allocated $4million as an adjustment of retained earnings, which represents three-fifteenths of net periodic benefit costs determined for the period from September30, 2007 to December31, 2008.

Postretirement Healthcare Benef

Postretirement Healthcare Benefit Plans
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Postretirement Healthcare Benefit Plans	18. Postretirement Healthcare Benefit Plans Certain U.S. and Brazil based subsidiaries of Bunge have benefit plans to provide certain postretirement healthcare benefits to eligible retired employees of those subsidiaries. The plans require minimum retiree contributions and define the maximum amount the subsidiaries will be obligated to pay under the plans. Bunge's policy is to fund these costs as they become payable. Plan Amendments.In 2009, Bunge amended its postretirement healthcare plan in Brazil by increasing contributions from retirees to reduce its exposure to increased costs related to this plan. The following table sets forth a reconciliation of the changes in the postretirement healthcare benefit plans' benefit obligations and funded status at December31, 2009 and 2008. A measurement date of December31 was used for all plans. U.S. Postretirement Healthcare Benefits December31, Foreign Postretirement Healthcare Benefits December31, (US$ in millions) 2009 2008 2009 2008 Change in benefit obligations: Benefit obligation as of beginning of year $ 25 $ 25 $ 72 $ 101 Adjustment due to measurement date provision adoption Service cost 2 1 Interest cost 2 1 10 6 Actuarial (gain) loss, net 1 1 11 (19 ) Employee contributions 1 1 Net transfers in 4 9 Plan amendments (8 ) Benefits paid (3 ) (3 ) (6 ) (6 ) Impact of foreign exchange rates 26 (20 ) Benefit obligation as of end of year $ 26 $ 25 $ 111 $ 72 Change in plan assets: Fair value of plan assets as of beginning of year $ $ $ $ Adjustment due to measurement date provision adoption (1 ) Employer contributions 2 3 6 6 Employee contributions 1 1 Benefits paid (3 ) (3 ) (6 ) (6 ) Impact of foreign exchange rates Fair value of plan assets as of end of year $ $ $ $ Funded status and net amounts recognized: Plan assets less than benefit obligation $ (26 ) $ (25 ) $ (111 ) $ (72 ) Net liability recognized in the balance sheet $ (26 ) $ (25 ) $ (111 ) $ (72 ) Amounts recognized in the balance sheet consist of: Current liabilities $ (3 ) $ (3 ) $ (7 ) $ (5 ) Non-current liabilities (23 ) (22 ) (104 ) (67 ) Net liability recognized $ (26 ) $ (25 ) $ (111 ) $ (72 ) The components of net periodic benefit costs for U.S. and foreign postretirement healthcare benefit plans are as follows: U.S. Postretirement Healthcare Benefits Year Ended December31, Foreign Postretirement Healthcare Benefits Year Ended December31, (US$ in millions) 2009 2008 2007 2009 2008 2007 Service

Related Party Transactions

Related Party Transactions
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Related Party Transactions	19. Related Party Transactions Notes receivableIn December 2009, Bunge sold its investment in Saipol to the joint venture partner Sofiproteol. The carrying balance of the $39million note receivable from Saipol as of the date of Bunge's sale of this investment has been changed to a note receivable from Sofiproteol. The note receiveable from Sofiproteol will be repaid in four equal annual installments beginning January 2010 and is classified as other current and non-current assets on the consolidated balance sheet according to repayment terms. At December31, 2008, the carrying value of this note receivable was $39million. Bunge holds a note receivable under a revolving credit facility from Bunge-Ergon VicksburgLLC, a 50% owned U.S. joint venture. The amounts outstanding were $19million and $6million at December31, 2009 and 2008, respectively. This note receivable matures in May 2011 with interest payable at a rate of LIBOR plus 2.0%. Bunge holds a note receivable from Southwest Iowa Renewable Energy, a 26% owned U.S. investment, having a carrying value of approximately $27million at December31, 2009. This note receivable matures in August 2014 with interest payable at a rate of LIBOR plus 7.5%. Bunge had a note receivable from AGRI-BungeLLC, a joint venture in which Bunge owns a 50% voting interest and 34% equity interest in the United States. The note was paid off at December31, 2009. At December31, 2008, this note had a carrying value of $7million with interest payable at a rate of LIBOR plus 2.0%. Bunge has recognized interest income related to these notes receivable of approximately $1million, $6million and $5million for the years ended December31, 2009, 2008 and 2007, respectively, in interest income in its consolidated statements of income. Notes receivable at December31, 2009 and 2008, with carrying values of $47million and $53million, respectively, are included in other current assets or other non-current assets in the consolidated balance sheets, depending on their maturities. Notes payableBunge has a note payable with a carrying value of $8million and $3million at December31, 2009 and 2008, respectively, to a joint venture partner in one of its terminals. The real-denominated note is payable on demand with interest payable annually at the Brazilian interbank deposit rate (9.88% at December31, 2009). In addition, Bunge has a note payable to a joint venture in the U.S. with a carrying value of $5million at December31, 2009. The note payable includes interest payable at a rate of LIBOR plus 2.0%. The notes payable are included in other current liabilities in Bunge's consolidated balance sheets at December31, 2009 and 2008. In 2009, 2008 and 2007, Bunge has recorded interest expense of approximately $1million, $2million and $1million, respectively, related to these notes. OtherBunge purchased soybeans, other commodity products and phosphate-based products from certain of its unconsolidated joint ventures, which totaled $1,073million, $1,059million and $859million for the years ended December31, 2009, 2008 and 2007, respectively. Bunge also sold soybean commodity products and other commodity products to certain of t

Commitments and Contingencies

Commitments and Contingencies
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Commitments and Contingencies	20.Commitments and Contingencies Bunge is party to a large number of claims and lawsuits, primarily tax and labor claims in Brazil, arising in the normal course of business. Bunge records liabilities related to its general claims and lawsuits when the exposure item becomes probable and can be reasonably estimated. After taking into account the recorded liabilities for these matters, management believes that the ultimate resolution of such matters will not have a material adverse effect on Bunge's financial condition, results of operations or liquidity. Included in other non-current liabilities at December31, 2009 and 2008 are the following accrued liabilities: December31, (US$ in millions) 2009 2008 Tax claims $ 135 $ 156 Labor claims 97 78 Civil and other 110 97 Total $ 342 $ 331 Tax ClaimsThe tax claims relate principally to claims against Bunge's Brazilian subsidiaries, including primarily value-added tax claims (ICMS, IPI, PIS and COFINS, of which PIS and COFINS are used by the Brazilian government to fund social contribution programs). The determination of the manner in which various Brazilian federal, state and municipal taxes apply to the operations of Bunge is subject to varying interpretations arising from the complex nature of Brazilian tax law. Labor ClaimsThe labor claims relate principally to claims against Bunge's Brazilian subsidiaries. The labor claims primarily relate to dismissals, severance, health and safety, salary adjustments and supplementary retirement benefits. Civil and OtherThe civil and other claims relate to various disputes with third parties, including suppliers and customers. In July 2008, the European Commission commenced an investigation into whether certain traders and distributors of cereals and other agricultural products in the E.U., including Bunge, have infringed European competition laws. In December 2009, Bunge was notified that the European commission has closed this investigation. Antitrust Approval of Manah AcquisitionIn 2000, Bunge acquired ManahS.A., a Brazilian fertilizer company that had an indirect participation in FosfertilS.A. Fosfertil is the main Brazilian producer of phosphate used to produce NPK fertilizers. This acquisition was approved by the Brazilian antitrust commission in February 2004. The approval was conditioned on the formalization of an operational agreement between Bunge and the antitrust commission relating to the maintenance of existing competitive conditions in the fertilizer market. Although the terms of the operational agreement have not yet been approved, Bunge does not expect them to have a material adverse impact on its business or financial results. GuaranteesBunge has issued or was a party to the following guarantees at December31, 2009: (US$ in millions) Maximum Potential Future Payments Customer financing (1) $ 122 Unconsolidated affiliates financing (2) 13 Total $ 135 (1) Bunge has issued guarantees to third parties in Brazil related to amounts owed these third parties by certain of Bunge's cust

Shareholders' Equity

Shareholders' Equity
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Shareholders' Equity	21. Shareholders' Equity Common sharesIn August 2009, Bunge sold 12,000,000 common shares of Bunge Limited in a public equity offering, including the exercise in full of the underwriters' over-allotment option, for which it received net proceeds of approximately $761million after deducting underwriting discounts, commissions and expenses. Bunge used the net proceeds of this offering to repay indebtedness and for other general corporate purposes. Mandatory Convertible Preference SharesIn 2007, Bunge completed a public offering of 862,500, 5.125% cumulative mandatory convertible preference shares (mandatory convertible preference shares), with a par value $0.01 per share and with an initial liquidation preference of $1,000, plus accumulated and unpaid dividends. Bunge received net proceeds of approximately $845million, after underwriting discounts and commissions and other expenses of the offering. As a result of adjustments to the initial conversion rates because cash dividends paid on Bunge Limited's common shares exceeded certain specified thresholds, each mandatory convertible preference share will automatically convert on December1, 2010 into between 8.2416 and 9.7250 of Bunge Limited common shares, subject to certain additional anti-dilution adjustments, depending on the average of the volume-weighted average price per common share over the 20 consecutive trading day period ending on the third trading day immediately preceding December1, 2010. At any time prior to December1, 2010, holders may elect to convert the mandatory convertible preference shares at the minimum conversion rate of 8.2416 of Bunge Limited common shares per mandatory convertible preference share, subject to additional certain anti-dilution adjustments. If a fundamental change (as defined in the prospectus) occurs prior to December1, 2010, holders will have the right to convert their mandatory convertible preference shares into Bunge Limited common shares at the fundamental change conversion rate (as defined in the prospectus). Holders who convert mandatory convertible preference shares will also receive all accumulated and unpaid dividends and a fundamental change dividend make-whole amount, subject to a dividend cap equal to the present value of all remaining dividend payments, to the extent Bunge is legally permitted to pay such amounts. The mandatory convertible preference shares are not redeemable by Bunge at any time. The mandatory convertible preference shares accrue dividends at an annual rate of 5.125%. Dividends are cumulative from the date of issuance and are payable, quarterly in arrears, on each March1, June1, September1 and December1, commencing March1, 2008, when, as and if declared by Bunge's board of directors. The dividends may be paid in cash, common shares or a combination thereof, subject to a dividend cap. Accumulated but unpaid dividends on the mandatory convertible preference shares will not bear interest. Cumulative Convertible Perpetual Preference SharesBunge has 6,900,000, 4.875% cumulative convertible perpetual preference shares (convertible preference shares), par value $0.01 outstanding as of December31, 2009. Each convertib

Earnings Per Share

Earnings Per Share
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Earnings Per Share	22. Earnings Per Share Basic earnings per share is computed by dividing net income available to Bunge common shareholders by the weighted-average number of common shares outstanding, excluding any dilutive effects of stock options, restricted stock unit awards, convertible preference shares and convertible notes during the reporting period. Diluted earnings per share is computed similar to basic earnings per share, except that the weighted-average number of common shares outstanding is increased to include additional shares from the assumed exercise of stock options, restricted stock unit awards and convertible securities and notes, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options, except those which are not dilutive, were exercised and that the proceeds from such exercises were used to acquire common shares at the average market price during the reporting period. In addition, Bunge accounts for the effects of convertible securities and convertible notes, using the if-converted method. Under this method, the convertible securities and convertible notes are assumed to be converted and the related dividend or interest expense, net of tax, is added back to earnings, if dilutive. Bunge has 862,455 mandatory convertible preference shares outstanding as of December31, 2009 (see Note21 of the notes to the consolidated financial statements). Each mandatory convertible preference share has a liquidation preference of $1,000 per share. On the mandatory conversion date of December1, 2010, each mandatory convertible preference share will automatically convert into between 8.2416 and 9.7250 of Bunge Limited common shares, subject to certain additional anti-dilution adjustments, depending on the average daily volume-weighted average price per common share over the 20-trading day period ending on the third trading day prior to such date. At any time prior to December1, 2010, holders may elect to convert the mandatory convertible preference shares at the conversion rate of 8.2416, subject to certain additional anti-dilution adjustments (which represents 7,108,009 Bunge Limited common shares as of December31, 2009). The calculation of diluted earnings per common share for the year ended December31, 2009 does not include the weighted-average common shares that would be issuable upon conversion of the mandatory convertible preference shares as they were not dilutive. The calculation of diluted earnings per common share for the year ended December31, 2008 includes the weighted-average common shares that would be issuable upon conversion of the mandatory convertible preference shares as they were dilutive. In addition, Bunge has 6,900,000 convertible perpetual preference shares outstanding as of December31, 2009 (see Note21 of the notes to the consolidated financial statements). Each convertible preference share has an initial liquidation preference of $100 per share and each convertible preference share is convertible, at any time at the holder's option, initially into approximately 1.0891 Bunge Limited common shares based on a conversion price of $91.82 per convertible preference share, subject in

Share-Based Compensation

Share-Based Compensation
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Share-Based Compensation	23. Share-Based Compensation In 2009, Bunge recognized approximately $16million and $1million of compensation expense, related to its stock option and restricted stock unit awards, respectively, in additional paid-in capital for awards classified as equity awards. In 2008, Bunge recognized approximately $16million and $50million of compensation expense, related to its stock option and restricted stock unit awards, respectively, in additional paid-in capital for awards classified as equity awards. In 2007, Bunge recognized $13million and $35million of compensation expense, related to its stock option and restricted stock unit awards, respectively, of which $7million was recorded in liabilities for awards classified as liability awards and $41million in additional paid-in capital for awards classified as equity awards. In 2009, the aggregate tax benefit related to share-based compensation was approximately $6million. In 2008, Bunge reversed an aggregate tax benefit of approximately $5million related to share-based compensation. In 2007, the aggregate tax benefit related to share-based compensation was approximately $1million. 2009 Equity Incentive Plan and Equity Incentive PlanIn 2009, Bunge established the 2009 Equity Incentive Plan (the "2009 EIP"), which was approved by shareholders at the 2009 annual general meeting. Under the 2009 EIP, the compensation committee of Bunge Limited's board of directors may grant equity-based awards to officers, employees, consultants and independent contractors. Awards under the 2009 EIP may be in the form of stock options, restricted stock units (performance-based or time-vested) or other equity-based awards. Prior to May8, 2009, the date of shareholder approval of the 2009 EIP, Bunge granted equity-based awards under the Equity Incentive Plan (the "Equity Incentive Plan"), which is a shareholder approved plan. Under the Equity Incentive Plan, the compensation committee of the Bunge Limited board of directors was authorized to grant equity-based awards to officers, employees, consultants and independent contractors. The Equity Incentive Plan provided that awards may be in the form of stock options, restricted stock units (performance-based or time-vested) or other equity-based awards. Effective May8, 2009, no further awards will be granted under the Equity Incentive Plan. (i)Stock Option AwardsStock options to purchase Bunge Limited common shares are non-statutory and granted with an exercise price equal to the market value of Bunge Limited common shares on the date of grant, as determined under the Equity Incentive Plan or the 2009 EIP, as applicable. Options expire ten years after the date of grant and generally vest and become exercisable on a pro-rata basis over a three-year period on each anniversary of the date of the grant. Vesting may be accelerated in certain circumstances as provided in the 2009 EIP and the Equity Incentive Plan. Compensation expense is recognized for option grants beginning in 2006 on a straight-line basis and for options granted prior to 2006 is recognized on an accelerated basis over the vesting period of each grant. (ii)Restricted Stock UnitsPerformance-based

Lease Commitments

Lease Commitments
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Lease Commitments	24. Lease Commitments Bunge routinely leases storage facilities, transportation equipment and office facilities under operating leases. Minimum lease payments under non-cancelable operating leases at December31, 2009 are as follows: (US$ in millions) 2010 $ 138 2011 108 2012 91 2013 58 2014 47 Thereafter 253 Total $ 695 Rent expense under non-cancelable operating leases was $146million, $140million and $130million for 2009, 2008 and 2007, respectively.

Operating Segments and Geograph

Operating Segments and Geographic Areas
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Operating Segments and Geographic Areas	25. Operating Segments and Geographic Areas Bunge has four reportable segmentsagribusiness, fertilizer, edible oil products and milling products, which are organized based upon similar economic characteristics and are similar in nature of products and services offered, the nature of production processes, the type and class of customer and distribution methods. The agribusiness segment is characterized by both inputs and outputs being agricultural commodities and thus high volume and low margin. The activities of the fertilizer segment include raw material mining, mixing fertilizer components and marketing products. The edible oil products segment involves the manufacturing and marketing of products derived from vegetable oils. The milling products segment involves the manufacturing and marketing of products derived primarily from wheat and corn. The "Unallocated" column in the following table contains the reconciliation between the totals for reportable segments and Bunge consolidated totals, which consists primarily of corporate items not allocated to the operating segments, inter-segment eliminations. Transfers between the segments are generally valued at market. The revenues generated from these transfers are shown in the following table as "Inter-segment revenues." (US$ in millions) Agribusiness Fertilizer Edible Oil Products Milling Products Unallocated Total 2009 Net sales to external customers $ 30,511 $ 3,704 $ 6,184 $ 1,527 $ $ 41,926 Inter-segment revenues 3,435 18 131 17 (3,601 ) Gross profit(1) 1,379 (739 ) 412 152 1,204 Foreign exchange gain (loss) 218 256 (4 ) (1 ) 469 Equity in earnings of affiliates 3 (13 ) 86 4 80 Noncontrolling interest(2) (20 ) 87 (10 ) (31 ) 26 Other income (expense) (2 ) (15 ) (7 ) (1 ) (25 ) Segment EBIT 820 (616 ) 181 58 443 Depreciation, depletion and amortization expense (194 ) (149 ) (73 ) (27 ) (443 ) Investments in affiliates 526 67 15 14 622 Total assets 13,863 4,683 2,030 670 40 21,286 Capital expenditures 479 329 55 24 31 918 2008 Net sales to external customers $ 36,688 $ 5,860 $ 8,216 $ 1,810 $ $ 52,574 Inter-segment revenues 8,075 173 112 6 (8,366 ) Gross profit(1) 2,029 1,449 356 202 4,036 Foreign exchange gain (loss) (198 ) (530 ) (22 ) 1 (749 ) Equity in earnings of affiliates 6 7 17 4 34 Noncontrolling interest(2) (24 ) (323 ) (8 ) 93 (262 ) Other income (expense) (6 ) 2 14 10 Segment EBIT 949 321 (11 ) 104 1,363 Depreciation, depletion and amortization expense (186 ) (161 ) (74 ) (18 ) (439 ) Investments in affiliates

Quarterly Financial Information

Quarterly Financial Information (Unaudited)
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Quarterly Financial Information (Unaudited)	26. Quarterly Financial Information (Unaudited) Quarter (US$ in millions, except per share data) First Second Third Fourth YearEnd 2009 Volumes (in millions of metric tons) 32 38 37 34 141 Net sales $ 9,198 $ 10,994 $ 11,298 $ 10,436 $ 41,926 Gross profit 135 412 343 314 1,204 Net (loss) income (176 ) 322 197 (8 ) 335 Net income attributable to Bunge (195 ) 313 232 11 361 Earnings per common sharebasic Net (loss) income $ (1.45 ) $ 2.64 $ 1.54 $ (0.60 ) $ 2.65 Earnings (loss) to Bunge common shareholders $ (1.76 ) $ 2.40 $ 1.82 $ (0.21 ) $ 2.24 Earnings per common sharediluted (1) Net (loss) income $ (1.45 ) $ 2.34 $ 1.37 $ (0.60 ) $ 2.62 Earnings (loss) to Bunge common shareholders $ (1.76 ) $ 2.28 $ 1.62 $ (0.21 ) $ 2.22 Weighted-average number of shares outstandingbasic 121,730,058 122,026,034 127,800,921 134,084,639 126,448,071 Weighted-average number of shares outstandingdiluted 121,730,058 137,576,049 143,540,130 134,084,639 127,669,822 Market price: High $ 59.33 $ 67.89 $ 72.41 $ 68.51 Low $ 41.61 $ 46.58 $ 54.44 $ 57.06 2008 Volumes (in millions of metric tons) 31 36 35 36 138 Net sales $ 12,469 $ 14,365 $ 14,797 $ 10,943 $ 52,574 Gross profit 867 1,451 1,209 509 4,036 Net income (loss) 322 860 324 (180 ) 1,326 Net income attributable to Bunge 289 751 234 (210 ) 1,064 Earnings per common sharebasic Net income (loss) $ 2.65 $ 7.07 $ 2.66 $ (1.48 ) $ 10.91 Earnings (loss) to Bunge common shareholders $ 2.23 $ 6.01 $ 1.77 $ (1.89 ) $ 8.11 Earnings per common sharediluted(1) Net income (loss) $ 2.34 $ 6.24 $ 2.35 $ (1.48 ) $ 9.64 Earnings (loss) to Bunge common shareholders $ 2.10 $ 5.45 $ 1.70 $ (1.89 ) $ 7.73 Weighted-average number of shares outstandingbasic 121,299,803 121,564,112 121,616,824 121,627,504 121,527,580 Weighted-average number of shares outstandingdiluted 137,605,437 137,788,430 137,839,070 121,627,504 137,591,266 Market price: High $ 133.00 $ 124.48 $ 105.04 $ 63.00 Low $ 86.88 $ 87.92 $ 60.10 $ 29.99 (1) Earnings per share to Bunge common shareholders for both basic and diluted is computed independently for each period presented. As a result, the sum of the quarterly earnings per share for the years ended December31, 2009 and 2008 does not equal the total computed for the ye

Subsequent Events

Subsequent Events
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Subsequent Events	27. Subsequent Events AcquisitionsOn February12, 2010, Bunge assumed 100% control of five of the mills comprising the Moema Group (Moema, Frutal, Ouroeste, Guariroba and Itapagipe), with a total annual sugarcane milling capacity of 13.7million metric tons in exchange for 9,718,632 common shares of Bunge Limited. This represents approximately 90% of the base purchase price with the final total purchase price subject to post-closing adjustments based on working capital and net debt. On January11, 2010, Bunge acquired the Argentine fertilizer business of Petrobras EnergaS.A., an Argentine subsidiary of Petroleo BrasileiroS.A. (Petrobras), for approximately $80million. The acquisition will allow Bunge to manufacture both nitrogen and phosphate-based products in Argentina, which will expand its product portfolio and strengthen its relationship with customers. Bunge is in the process of determining the value of assets, liabilities and any associated goodwill and intangibles acquired for these acquisitions. DispositionsOn January26, 2010, Bunge and two of its wholly owned subsidiaries entered into a definitive agreement with ValeS.A., a Brazil-based global mining company ("Vale"), and an affiliate of Vale, pursuant to which Vale will acquire Bunge's fertilizer nutrients assets in Brazil, including its interest in Fertilizantes FosfatadosS.A. ("Fosfertil"), for $3.8billion in cash. The consideration is subject to a post-closing adjustment based on working capital and net debt, as provided in the sale and purchase agreement for the transaction. The transaction is expected to close in the second quarter of 2010.

Document and Entity Information

Document and Entity Information (USD $)
In Millions, except Share data	12 Months Ended Dec. 31, 2009	Feb. 19, 2010	Jun. 30, 2009
Document and Entity Information
Entity Registrant Name	Bunge LTD
Entity Central Index Key	0001144519
Document Type	10-K
Document Period End Date	2009-12-31
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$7,270
Entity Common Stock, Shares Outstanding		143,853,936