Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 21, 2014 | Jun. 30, 2013 |
Document And Entity Information | ' | ' | ' |
Entity Registrant Name | 'Bunge LTD | ' | ' |
Entity Central Index Key | '0001144519 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
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 | ' | ' | $10,314 |
Entity Common Stock, Shares Outstanding | ' | 147,512,630 | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CONSOLIDATED STATEMENTS OF INCOME | ' | ' | ' |
Net sales | $61,347 | $60,991 | $56,097 |
Cost of goods sold | -58,587 | -58,418 | -53,470 |
Gross profit | 2,760 | 2,573 | 2,627 |
Selling, general and administrative expenses | -1,559 | -1,563 | -1,436 |
Interest income | 76 | 53 | 96 |
Interest expense | -363 | -294 | -295 |
Foreign exchange gains (losses) | 53 | 88 | -16 |
Other income (expense)-net | 44 | -92 | 7 |
Goodwill impairment (Note 8) | ' | -514 | ' |
Gains on sales of investments in affiliates | 3 | 85 | 37 |
Gain on acquisition of controlling interests | ' | 36 | ' |
Income from continuing operations before income tax | 1,014 | 372 | 1,020 |
Income tax (expense) benefit | -904 | 6 | -55 |
Income from continuing operations | 110 | 378 | 965 |
Income (loss) from discontinued operations, net of tax (including pre-tax gain on disposal of $148 million in 2013) (Note 3) | 97 | -342 | -25 |
Net income | 207 | 36 | 940 |
Net (income) loss attributable to noncontrolling interests | 99 | 28 | 2 |
Net income attributable to Bunge | 306 | 64 | 942 |
Convertible preference share dividends and other obligations | -76 | -36 | -34 |
Net income available to Bunge common shareholders | $230 | $28 | $908 |
Earnings per common share-basic (Note 25) | ' | ' | ' |
Net income (loss) from continuing operations (in dollars per share) | $0.91 | $2.53 | $6.37 |
Net income (loss) from discontinued operations (in dollars per share) | $0.66 | ($2.34) | ($0.17) |
Net income (loss) to Bunge common shareholders (in dollars per share) | $1.57 | $0.19 | $6.20 |
Earnings per common share-diluted (Note 25) | ' | ' | ' |
Net income (loss) from continuing operations (in dollars per share) | $0.90 | $2.51 | $6.23 |
Net income (loss) from discontinued operations (in dollars per share) | $0.65 | ($2.32) | ($0.16) |
Net income (loss) to Bunge common shareholders (in dollars per share) | $1.55 | $0.19 | $6.07 |
CONSOLIDATED_STATEMENTS_OF_INC1
CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
CONSOLIDATED STATEMENTS OF INCOME | ' |
Income (loss) from discontinued operations, pre-tax gain on disposal | $148 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | ' | ' | ' |
Net income (loss) | $207 | $36 | $940 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign exchange translation adjustment | -1,212 | -797 | -1,161 |
Unrealized gains (losses) on designated cash flow and net investment hedges, net of tax (expense) benefit $11, $(3), $(4) | ' | 5 | 5 |
Unrealized gains (losses) on investments, net of tax (expense) benefit $(2), $(1), $0 | 5 | 11 | ' |
Reclassification of realized net (gains) losses to net income, net of tax expense (benefit) $(5), $(12), $15 | -38 | 22 | -27 |
Pension adjustment, net of tax (expense) benefit $(45), $14, $20 | 88 | -33 | -41 |
Total other comprehensive income (loss) | -1,157 | -792 | -1,224 |
Total comprehensive income (loss) | -950 | -756 | -284 |
Less: Comprehensive (income) loss attributable to noncontrolling interests | 94 | 20 | 33 |
Total comprehensive income (loss) attributable to Bunge | ($856) | ($736) | ($251) |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | ' | ' | ' |
Unrealized gains (losses) on designated cash flow and net investment hedges, tax (expense) benefit | $11 | ($3) | ($4) |
Unrealized gains (losses) on investments, tax (expense) benefit | -2 | -1 | 0 |
Reclassification of realized net (gains) losses to net income, tax expense (benefit) | 5 | 12 | -15 |
Pension adjustment, tax (expense) benefit | ($45) | $14 | $20 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $742 | $569 |
Time deposits under trade structured finance program (Note 4) | 4,470 | 3,048 |
Trade accounts receivable (less allowance of $123 and $125) (Note 18) | 2,144 | 2,471 |
Inventories (Note 5) | 5,796 | 6,590 |
Deferred income taxes (Note 14) | 183 | 108 |
Current assets held for sale (Note 3) | 55 | 660 |
Other current assets (Note 6) | 4,382 | 3,818 |
Total current assets | 17,772 | 17,264 |
Property, plant and equipment, net (Note 7) | 6,075 | 5,888 |
Goodwill (Note 8) | 392 | 351 |
Other intangible assets, net (Note 9) | 326 | 295 |
Investments in affiliates (Note 11) | 241 | 273 |
Deferred income taxes (Note 14) | 564 | 1,213 |
Non-current assets held for sale (Note 3) | 46 | 250 |
Other non-current assets (Note 12) | 1,365 | 1,746 |
Total assets | 26,781 | 27,280 |
Current liabilities: | ' | ' |
Short-term debt (Note 16) | 703 | 1,598 |
Current portion of long-term debt (Note 17) | 762 | 719 |
Letter of credit obligations under trade structured finance program (Note 4) | 4,470 | 3,048 |
Trade accounts payable | 3,522 | 3,319 |
Deferred income taxes (Note 14) | 60 | 86 |
Current liabilities held for sale (Note 3) | ' | 297 |
Other current liabilities (Note 13) | 3,018 | 2,494 |
Total current liabilities | 12,535 | 11,561 |
Long-term debt (Note 17) | 3,179 | 3,532 |
Deferred income taxes (Note 14) | 185 | 84 |
Non-current liabilities held for sale (Note 3) | ' | 13 |
Other non-current liabilities | 757 | 797 |
Commitments and contingencies (Note 22) | 'Â Â | 'Â Â |
Redeemable noncontrolling interests (Note 23) | 37 | 38 |
Equity (Note 24): | ' | ' |
Convertible perpetual preference shares, par value $.01; authorized, issued and outstanding: 2013 and 2012 - 6,900,000 shares (liquidation preference $100 per share) | 690 | 690 |
Common shares, par value $.01; authorized - 400,000,000 shares; issued and outstanding - 2013 - 147,796,784 shares, 2012 - 146,348,499 shares | 1 | 1 |
Additional paid-in capital | 4,967 | 4,909 |
Retained earnings | 6,891 | 6,792 |
Accumulated other comprehensive income (loss) | -2,572 | -1,410 |
Treasury shares, at cost (2013 and 2012 - 1,933,286 shares) | -120 | -120 |
Total Bunge shareholders' equity | 9,857 | 10,862 |
Noncontrolling interests | 231 | 393 |
Total equity | 10,088 | 11,255 |
Total liabilities and equity | $26,781 | $27,280 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
CONSOLIDATED BALANCE SHEETS | ' | ' |
Trade accounts receivable, allowances (in dollars) | $123 | $125 |
Convertible perpetual preference shares, par value (in dollars per share) | $0.01 | $0.01 |
Convertible perpetual preference shares, authorized | 6,900,000 | 6,900,000 |
Convertible perpetual preference shares, issued | 6,900,000 | 6,900,000 |
Convertible perpetual preference shares, outstanding | 6,900,000 | 6,900,000 |
Convertible perpetual preference shares, liquidation preference (in dollars per share) | $100 | $100 |
Common shares, par value (in dollars per share) | $0.01 | $0.01 |
Common shares, authorized | 400,000,000 | 400,000,000 |
Common shares, issued | 147,796,784 | 146,348,499 |
Common shares, outstanding | 147,796,784 | 146,348,499 |
Treasury shares | 1,933,286 | 1,933,286 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
OPERATING ACTIVITIES | ' | ' | ' |
Net income (loss) | $207 | $36 | $940 |
Adjustments to reconcile net income to cash provided by (used for) operating activities: | ' | ' | ' |
Goodwill and other impairment charges | 35 | 574 | 3 |
Foreign exchange loss (gain) on debt | -48 | -74 | 113 |
Gain on sale of Brazilian fertilizer distribution business | -148 | ' | ' |
Gains on sales of investments in affiliates | -3 | -85 | -37 |
Gain on acquisition of controlling interest | ' | -36 | ' |
Bad debt expense | 26 | 115 | 40 |
Depreciation, depletion and amortization | 568 | 570 | 526 |
Stock-based compensation expense | 53 | 44 | 49 |
Gains on sales of property, plant and equipment | -29 | -36 | -17 |
Deferred income tax expense / (benefit) | 460 | -35 | -217 |
Equity in earnings of affiliates | 15 | 35 | -7 |
Other | 14 | 3 | 2 |
Changes in operating assets and liabilities, excluding the effects of acquisitions: | ' | ' | ' |
Trade accounts receivable | 148 | -373 | 267 |
Inventories | 238 | -1,567 | 530 |
Secured advances to suppliers | -216 | -217 | -126 |
Trade accounts payable | 436 | 554 | -295 |
Advances on sales | 309 | 38 | -15 |
Net unrealized gain/loss on derivative contracts | -71 | -112 | 622 |
Margin deposits | 57 | -8 | 573 |
Recoverable and income taxes, net | 128 | -7 | -270 |
Accrued liabilities | -6 | 177 | -67 |
Other-net | 52 | -53 | ' |
Cash provided by (used for) operating activities | 2,225 | -457 | 2,614 |
INVESTING ACTIVITIES | ' | ' | ' |
Payments made for capital expenditures | -1,042 | -1,095 | -1,125 |
Acquisitions of businesses (net of cash acquired) | -355 | -298 | -192 |
Proceeds from the sale of Brazilian fertilizer distribution business | 750 | ' | ' |
Proceeds from investments | 134 | 108 | 95 |
Payments for investments | -68 | -83 | -55 |
Proceeds from disposals of property, plant and equipment | 11 | 28 | 141 |
Change in restricted cash | 137 | 45 | -43 |
Proceeds from sales of investments in affiliates | 47 | 483 | ' |
Payments for investments in affiliates | -40 | -125 | -44 |
Other | -3 | -30 | 3 |
Cash provided by (used for) investing activities | -429 | -967 | -1,220 |
FINANCING ACTIVITIES | ' | ' | ' |
Net change in short-term debt with maturities of 90 days or less | -1,153 | 630 | -43 |
Proceeds from short-term debt with maturities greater than 90 days | 934 | 1,574 | 710 |
Repayments of short-term debt with maturities greater than 90 days | -737 | -1,385 | -1,686 |
Proceeds from long-term debt | 8,118 | 5,295 | 2,989 |
Repayments of long-term debt | -8,480 | -4,746 | -2,794 |
Proceeds from sale of common shares | 43 | 23 | 23 |
Repurchases of common shares | ' | ' | -120 |
Dividends paid to preference shareholders | -34 | -34 | -34 |
Dividends paid to common shareholders | -167 | -151 | -140 |
Dividends paid to noncontrolling interests | -3 | -7 | -12 |
Capital contributions (return of capital) from noncontrolling interests, net | -82 | 14 | 73 |
Financing related fees | -4 | -7 | -26 |
Cash provided by (used for) financing activities | -1,565 | 1,206 | -1,060 |
Effect of exchange rate changes on cash and cash equivalents | -60 | -46 | -77 |
Net increase (decrease) in cash and cash equivalents | 171 | -264 | 257 |
Change in cash related to assets held for sale | 2 | -2 | ' |
Cash and cash equivalents, beginning of period | 569 | 835 | 578 |
Cash and cash equivalents, end of period | $742 | $569 | $835 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (USD $) | Total | Convertible Preference Shares | Common Shares | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Shares | Noncontrolling Interests | Redeemable Noncontrolling Interests |
In Millions, except Share data, unless otherwise specified | |||||||||
Balance at Dec. 31, 2009 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common shares | ' | ' | ' | ' | ' | ' | ($354) | ' | ' |
Repurchase of common shares (in shares) | ' | ' | -6,714,573 | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2010 | ' | 690 | 1 | ' | ' | ' | ' | ' | ' |
Balance (in shares) at Dec. 31, 2010 | ' | 6,900,000 | 146,635,083 | ' | ' | ' | ' | ' | ' |
Balance at May. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common shares | ' | ' | ' | ' | ' | ' | -474 | ' | ' |
Repurchase of common shares (in shares) | ' | ' | -8,647,859 | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | ' | 690 | 1 | ' | ' | ' | -120 | ' | ' |
Balance (in shares) at Dec. 31, 2013 | ' | 6,900,000 | 147,796,784 | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2010 | 12,554 | 690 | 1 | 4,793 | 6,153 | 583 | ' | 334 | ' |
Balance (in shares) at Dec. 31, 2010 | ' | 6,900,000 | 146,635,083 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 940 | ' | ' | ' | 942 | ' | ' | -2 | ' |
Other comprehensive income (loss) | -1,224 | ' | ' | ' | ' | -1,193 | ' | -31 | ' |
Dividends on common shares | -144 | ' | ' | ' | -144 | ' | ' | ' | ' |
Dividends on preference shares | -34 | ' | ' | ' | -34 | ' | ' | ' | ' |
Dividends to noncontrolling interests on subsidiary common stock | -18 | ' | ' | ' | ' | ' | ' | -18 | ' |
Return of capital to noncontrolling interests | -21 | ' | ' | ' | ' | ' | ' | -21 | ' |
Capital contributions from noncontrolling interests | 95 | ' | ' | ' | ' | ' | ' | 95 | ' |
Acquisition of noncontrolling interests (Note 2) | -20 | ' | ' | -31 | ' | ' | ' | 11 | ' |
Stock-based compensation expense | 49 | ' | ' | 49 | ' | ' | ' | ' | ' |
Repurchase of common shares | -120 | ' | ' | ' | ' | ' | -120 | ' | ' |
Repurchase of common shares (in shares) | ' | ' | -1,933,286 | ' | ' | ' | ' | ' | ' |
Issuance of common shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options and award plans, net of shares withheld for taxes | 18 | ' | ' | 18 | ' | ' | ' | ' | ' |
Stock options and award plans, net of shares withheld for taxes (in shares) | ' | ' | 908,232 | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2011 | 12,075 | 690 | 1 | 4,829 | 6,917 | -610 | -120 | 368 | ' |
Balance (in shares) at Dec. 31, 2011 | ' | 6,900,000 | 145,610,029 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 36 | ' | ' | ' | 64 | ' | ' | -28 | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -10 |
Accretion of noncontrolling interests | 2 | ' | ' | 2 | ' | ' | ' | ' | 2 |
Other comprehensive income (loss) | -792 | ' | ' | ' | ' | -800 | ' | 8 | ' |
Dividends on common shares | -155 | ' | ' | ' | -155 | ' | ' | ' | ' |
Dividends on preference shares | -34 | ' | ' | ' | -34 | ' | ' | ' | ' |
Dividends to noncontrolling interests on subsidiary common stock | -8 | ' | ' | ' | ' | ' | ' | -8 | ' |
Capital contributions from noncontrolling interests | 13 | ' | ' | ' | ' | ' | ' | 13 | 1 |
Acquisition of noncontrolling interests (Note 2) | 40 | ' | ' | ' | ' | ' | ' | 40 | 45 |
Reversal of uncertain tax positions | 12 | ' | ' | 12 | ' | ' | ' | ' | ' |
Stock-based compensation expense | 44 | ' | ' | 44 | ' | ' | ' | ' | ' |
Issuance of common shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options and award plans, net of shares withheld for taxes | 22 | ' | ' | 22 | ' | ' | ' | ' | ' |
Stock options and award plans, net of shares withheld for taxes (in shares) | ' | ' | 738,470 | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2012 | 11,255 | 690 | 1 | 4,909 | 6,792 | -1,410 | -120 | 393 | 38 |
Balance (in shares) at Dec. 31, 2012 | ' | 6,900,000 | 146,348,499 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 207 | ' | ' | ' | 306 | ' | ' | -99 | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -34 |
Accretion of noncontrolling interests | -42 | ' | ' | -42 | ' | ' | ' | ' | 42 |
Other comprehensive income (loss) | -1,157 | ' | ' | ' | ' | -1,162 | ' | 5 | ' |
Dividends on common shares | -173 | ' | ' | ' | -173 | ' | ' | ' | ' |
Dividends on preference shares | -34 | ' | ' | ' | -34 | ' | ' | ' | ' |
Dividends to noncontrolling interests on subsidiary common stock | -3 | ' | ' | ' | ' | ' | ' | -3 | ' |
Return of capital to noncontrolling interests | -73 | ' | ' | -8 | ' | ' | ' | -65 | -9 |
Reversal of uncertain tax positions | 13 | ' | ' | 13 | ' | ' | ' | ' | ' |
Stock-based compensation expense | 53 | ' | ' | 53 | ' | ' | ' | ' | ' |
Issuance of common shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options and award plans, net of shares withheld for taxes | 42 | ' | ' | 42 | ' | ' | ' | ' | ' |
Stock options and award plans, net of shares withheld for taxes (in shares) | ' | ' | 1,448,285 | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | $10,088 | $690 | $1 | $4,967 | $6,891 | ($2,572) | ' | $231 | $37 |
Balance (in shares) at Dec. 31, 2013 | ' | 6,900,000 | 147,796,784 | ' | ' | ' | ' | ' | ' |
Nature_of_Business_Basis_of_Pr
Nature of Business, Basis of Presentation, and Significant Accounting Policies | 12 Months Ended | ||
Dec. 31, 2013 | |||
Nature of Business, Basis of Presentation, and Significant Accounting Policies | ' | ||
Nature of Business, Basis of Presentation, and Significant Accounting Policies | ' | ||
1. Nature of Business, Basis of Presentation, and Significant Accounting Policies | |||
        Description of Business—Bunge Limited, a Bermuda holding company, together with its consolidated subsidiaries and variable interest entities (VIEs) in which it is considered the primary beneficiary, through which its businesses are conducted (collectively Bunge), is an integrated, global agribusiness and food company. Bunge's common shares trade on the New York Stock Exchange under the ticker symbol "BG." Bunge operates in four principal business areas, which include five reportable segments: agribusiness, sugar and bioenergy, edible oil products, milling products and fertilizer. | |||
        Agribusiness—Bunge'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 with merchandising and distribution offices throughout the world. | |||
        Bunge's agribusiness segment also participates in related financial activities, such as offering trade structured finance, which leverages its international trade flows, providing risk management services to customers by assisting them with managing price exposure to agricultural commodities and developing private investment vehicles to invest in businesses complementary to Bunge's commodities operations. | |||
        Sugar and Bioenergy—Bunge's sugar and bioenergy segment includes its global sugar merchandising and distribution activities, sugar and ethanol production in Brazil, and ethanol production investments. This segment is an integrated business involved in the growing and harvesting of sugarcane from land owned or managed through agricultural partnership agreements and additional sourcing of sugarcane from third parties to be processed at its eight mills in Brazil to produce sugar, ethanol and electricity. The sugar and bioenergy segment is also a merchandiser and distributor of sugar and ethanol within Brazil and a global merchandiser and distributor of sugar through its global trading offices. In addition, the segment includes investments in corn-based ethanol producers in the United States and Argentina. | |||
        Edible oil products—Bunge's edible oil products segment produces and sells 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, Argentina, China and India. | |||
        Milling products—Bunge's milling products segment includes wheat, corn and rice milling businesses, which purchase wheat, corn and rice directly from growers and dealers and process them into milled products for food processors, bakeries, brewers, snack food producers and other customers. Bunge's wheat milling activities are primarily in Brazil and Mexico. Corn and rice milling activities are in the United States. | |||
        Fertilizer—Bunge's fertilizer segment operates as a producer and blender of NPK (nitrogen, phosphate and potassium) fertilizer formulas, including phosphate based liquid and solid nitrogen fertilizers through our operations in Argentina to farmers and distributors in Argentina, Uruguay, Paraguay and Bolivia. | |||
        Historically, Bunge was involved in every stage of the fertilizer business in Brazil, from mining of phosphate-based raw materials to the sale of blended fertilizer products. In May 2010, Bunge sold its fertilizer nutrients assets in Brazil, including its phosphate mining assets and its investment in Fosfertil S.A., a phosphate and nitrogen producer. On August 8, 2013, Bunge sold its Brazilian fertilizer distribution business, including blending facilities, brands and warehouses to Yara International ASA (Yara), for $750 million in cash. As a result of the transaction, Bunge will no longer have significant ongoing cash flows related to the Brazilian fertilizer business or any significant ongoing participation in the operations of this business (see Note 3). | |||
        Basis of Presentation—The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). | |||
        Discontinued Operations—In determining whether a group of assets disposed (or to be disposed) of should be presented as discontinued operations, Bunge makes a determination of whether the group of assets being disposed of comprises a component of the entity; that is, whether it has historical operations and cash flows that can be clearly distinguished (both operationally and for financial reporting purposes). Bunge also determines whether the cash flows associated with the group of assets have been or will be significantly eliminated from the ongoing operations of Bunge as a result of the disposal transaction and whether Bunge has no significant continuing involvement in the operations of the group of assets after the disposal transaction. If these determinations are made affirmatively, the results of operations of the group of assets being disposed of (as well as any gain or loss on the disposal transaction) are aggregated for separate presentation apart from the continuing operations of the Company for all periods presented in the consolidated financial statements (see Note 3). | |||
        Principles of Consolidation—The accompanying consolidated financial statements include the accounts of Bunge, its subsidiaries and VIEs in which Bunge is considered to be the primary beneficiary, and as a result, include the assets, liabilities, revenues and expenses of all entities over which Bunge exercises control. Equity investments in which Bunge has the ability to exercise significant influence but does not control are accounted for by the equity method of accounting. Investments in which Bunge does not exercise significant influence are accounted for by the cost method of accounting. Intercompany accounts and transactions are eliminated. Bunge consolidates VIEs in which it is considered the primary beneficiary and reconsiders such conclusion at each reporting period. An enterprise is determined to be the primary beneficiary if it has a controlling financial interest under GAAP, defined as (a) the power to direct the activities of a VIE that most significantly impact the VIE's business and (b) the obligation to absorb losses of or the right to receive benefits from the VIE that could potentially be significant to the VIE's operations. Performance of that analysis requires the exercise of judgment. Where Bunge has an interest in an entity that has qualified for the deferral of the consolidation rules, it follows consolidation rules prior to January 1, 2010. These rules require an analysis to (a) determine whether an entity in which Bunge has a variable interest is a VIE and (b) whether Bunge's involvement, through the holding of equity interests directly or indirectly in the entity or contractually through other variable interests, would be expected to absorb a majority of the variability of the entity. This latter evaluation resulted in the consolidation of certain private equity and other investment funds (the consolidated funds) related to an asset management business acquisition completed in 2012. | |||
        The consolidated funds are, for GAAP purposes, investment companies and therefore are not required to consolidate their majority owned and controlled investments. Rather, Bunge reflects these investments at fair value. In addition, certain of these consolidated funds have limited partner investors with investments in the form of equity, which are accounted for as noncontrolling interests and investments in the form of debt for which Bunge has elected the fair value option (see Note 2). | |||
        Noncontrolling interests in subsidiaries related to Bunge's ownership interests of less than 100% are reported as noncontrolling interests in the consolidated balance sheets. The noncontrolling ownership interests in Bunge's earnings, net of tax, is reported as net (income) loss attributable to noncontrolling interests in the consolidated statements of income. | |||
        Reclassifications—Certain prior year amounts have been reclassified to conform to current year presentation. | |||
        Use of Estimates—The preparation of consolidated financial statements requires the application of accounting policies that often involve substantial judgment or estimation in their application. These judgments and estimations may significantly affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. They may also affect reported amounts of revenues and expenses. The policies Bunge considers to be most dependent on the application of estimates and assumptions include allowances for doubtful accounts, valuation allowances for recoverable taxes and deferred tax assets, impairment of long-lived assets and unconsolidated affiliates, restructuring charges, useful lives of property, plant and equipment and intangible assets, contingent liabilities, liabilities for unrecognized tax benefits and pension plan obligations. In addition, significant management estimates and assumptions are required in allocating the purchase price paid in business acquisitions to the assets and liabilities acquired (see Note 2) and the determination of fair values of Level 3 assets and liabilities (see Note 15). | |||
        Translation of Foreign Currency Financial Statements—Bunge's reporting currency is the U.S. dollar. The functional currency of the majority of Bunge's foreign subsidiaries is their local currency and, as such, amounts included in the consolidated statements of income, comprehensive income (loss), cash flows and changes in equity are translated using average exchange rates during each period. Assets and liabilities are translated at period-end exchange rates and resulting foreign exchange translation adjustments are recorded in the consolidated balance sheets as a component of accumulated other comprehensive income (loss). | |||
        Foreign Currency Transactions—Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured into their respective functional currencies at exchange rates in effect at the balance sheet date. The resulting exchange gain or loss is included in Bunge's consolidated statements of income as foreign exchange gain (loss) unless the remeasurement gain or loss relates to an intercompany transaction that is of a long-term investment nature and for which settlement is not planned or anticipated in the foreseeable future. Gains or losses arising from translation of such transactions are reported as a component of accumulated other comprehensive income (loss) in Bunge's consolidated balance sheets. | |||
        Cash and Cash Equivalents—Cash and cash equivalents include time deposits and readily marketable securities with original maturity dates of three months or less at the time of acquisition. | |||
        Trade Accounts Receivable and Secured Advances to Suppliers—Accounts receivable and secured advances to suppliers are stated at their historical carrying amounts net of write-offs and allowances for uncollectible accounts. Bunge establishes an allowance for uncollectible trade accounts receivable and secured advances to farmers based on historical experience, farming economics and other market conditions as well as specific customer collection issues. Uncollectible accounts are written off when a settlement is reached for an amount below the outstanding historical balance or when Bunge has determined that collection is unlikely. | |||
        Secured advances to suppliers bear interest at contractual rates which reflect current market interest rates at the time of the transaction. There are no deferred fees or costs associated with these receivables. As a result, there are no imputed interest amounts to be amortized under the interest method. Interest income is calculated based on the terms of the individual agreements and is recognized on an accrual basis. | |||
        Bunge follows accounting guidance on the disclosure of the credit quality of financing receivables and the allowance for credit losses which requires information to be disclosed at disaggregated levels, defined as portfolio segments and classes. | |||
        Under this guidance, a class of receivables is considered impaired, based on current information and events, if Bunge determines it probable that all amounts due under the original terms of the receivable will not be collected. Recognition of interest income is suspended once the farmer defaults on the originally scheduled delivery of agricultural commodities as the collection of future income is determined not to be probable. No additional interest income is accrued from the point of default until ultimate recovery, at which time amounts collected are credited first against the receivable and then to any unrecognized interest income. | |||
        Inventories—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. The majority of Bunge's readily marketable inventories are valued at fair value. These agricultural commodity inventories have quoted market prices in active markets, may be sold without significant further processing and have predictable and insignificant disposal costs. Changes in the fair values of merchandisable agricultural commodities inventories are recognized in earnings as a component of cost of goods sold. Also included in readily marketable inventories is sugar produced by our sugar mills in Brazil; these inventories are stated at the lower of average cost or market. | |||
        Inventories other than readily marketable inventories are stated at the lower of cost or market by inventory product class. Cost is determined using primarily the weighted-average cost method. | |||
        Derivative Instruments and Hedging Activities—Bunge enters into derivative instruments to manage its exposure to movements associated with agricultural commodity prices, transportation costs, foreign currency exchange rates, interest rates and energy costs. Bunge's use of these instruments is generally intended to mitigate the exposure to market variables (see Note 15). | |||
        Generally, derivative instruments are recorded at fair value in other current assets or other current liabilities in Bunge's consolidated balance sheets. Bunge assesses, both at the inception of a hedge and on an ongoing basis, whether any derivatives designated as hedges are highly effective in offsetting changes in the hedged items. The effective and ineffective portions of changes in fair values of derivative instruments designated as fair value hedges, along with the gains or losses on the related hedged items are recorded in earnings in the consolidated statements of income in the same caption as the hedged items. The effective portion of changes in fair values of derivative instruments that are designated as cash flow hedges are recorded in accumulated other comprehensive income (loss) and are reclassified to earnings when the hedged cash flows are realized or when the hedge is no longer considered to be effective. In addition, Bunge may designate certain derivative instruments as net investment hedges to hedge the exposure associated with its equity investments in foreign operations. The effective portions of changes in the fair values of net investment hedges, which are evaluated based on forward rates, are recorded in the foreign exchange translation adjustment component of accumulated other comprehensive income (loss) in the consolidated balance sheets and the ineffective portions of such derivative instruments are recorded in foreign exchange gains (losses) in the consolidated statements of income. | |||
        Recoverable Taxes—Recoverable taxes include value-added taxes paid upon the acquisition of raw materials and taxable services and other transactional taxes which can be recovered in cash or as compensation against income taxes or other taxes owed by Bunge, primarily in Brazil. These recoverable tax payments are included in other current assets or other non-current assets based on their expected realization. In cases where Bunge determines that recovery is doubtful, recoverable taxes are reduced by allowances for the estimated unrecoverable amounts. | |||
        Property, Plant and Equipment, Net—Property, plant and equipment, net is stated at cost less accumulated depreciation and depletion. Major improvements that extend the life, capacity or efficiency or improve the safety of an asset are capitalized, while maintenance and repairs are expensed as incurred. Costs related to legal obligations associated with the future retirement of capitalized assets are capitalized as part of the cost of the related asset. Bunge generally capitalizes eligible costs to acquire or develop internal-use software that are incurred during the application development stage. Interest costs on borrowings during construction/completion periods of major capital projects are also capitalized. | |||
        Included in property, plant and equipment are biological assets, primarily sugarcane, that are stated at cost less accumulated depletion. Depletion is calculated using the estimated units of production based on the remaining useful life of the growing sugarcane. Depreciation is computed based on the straight line method over the estimated useful lives of the assets. | |||
        Useful lives for property, plant and equipment are as follows: | |||
Years | |||
Biological assets | 6-May | ||
Buildings | Oct-50 | ||
Machinery and equipment | 20-Jul | ||
Furniture, fixtures and other | 20-Mar | ||
Computer software | 10-Mar | ||
        Goodwill—Goodwill represents the cost in excess of the fair value of net assets acquired in a business acquisition. Goodwill is not amortized but is tested annually for impairment or between annual tests if events or circumstances indicate potential impairment. Bunge's annual impairment testing is generally performed during the fourth quarter of its fiscal year. | |||
        Goodwill is tested for impairment at the reporting unit level. For the majority of Bunge's recorded goodwill, the reporting unit is equivalent to Bunge's reportable segments (see Note 8). | |||
        Impairment of Property, Plant and Equipment and Finite-Lived Intangible Assets—Finite-lived intangible assets include primarily trademarks, customer lists and port facility usage rights and are amortized on a straight-line basis over their contractual or legal lives (see Note 9) or their estimated useful lives where such lives are not determined by law or contract. | |||
        Bunge reviews its property, plant and equipment and finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. Bunge bases its evaluation of recoverability on such indicators as the nature, future economic benefits and geographic locations of the assets, historical or future profitability measures and other external market conditions. If these indicators result in the expected non-recoverability of the carrying amount of an asset or asset group, Bunge evaluates potential impairment using undiscounted estimated future cash flows. If such undiscounted future cash flows during the asset's remaining useful life are below its carrying value, a loss is recognized for the shortfall, measured by the present value of the estimated future cash flows or by third-party appraisals. Bunge records impairments related to property, plant and equipment and finite-lived intangible assets used in the processing of its products in cost of goods sold in its consolidated statements of income. Any impairment of marketing or brand assets is recognized in selling, general and administrative expenses in the consolidated statements of income (see Note 10). | |||
        Property, plant and equipment and other finite-lived intangible assets to be sold or otherwise disposed of are reported at the lower of carrying amount or fair value less cost to sell. | |||
        Impairment of Investments in Affiliates—Bunge reviews its investments annually or when an event or circumstances indicate that a potential decline in value may be other than temporary. Bunge considers various factors in determining whether to recognize an impairment charge, including the length of time that the fair value of the investment is expected to be below its carrying value, the financial condition, operating performance and near-term prospects of the affiliate and Bunge's intent and ability to hold the investment for a period of time sufficient to allow for recovery of the fair value. Impairment charges for investments in affiliates are included as a charge within other income (expense)-net. | |||
        Stock-Based Compensation—Bunge maintains equity incentive plans for its employees and non-employee directors (see Note 26). Bunge accounts for stock-based compensation using the modified prospective transition method. Under the modified prospective transition method, compensation cost is recognized based on the grant date fair value. | |||
        Income Taxes—Income tax expenses and benefits are recognized based on the tax laws and regulations in the jurisdictions in which Bunge's subsidiaries operate. Under Bermuda law, Bunge is not required to pay taxes in Bermuda on either income or capital gains. The provision for income taxes includes income taxes currently payable and deferred income taxes arising as a result of temporary differences between the carrying amounts of existing assets and liabilities in Bunge's financial statements and their respective tax bases. Deferred tax assets are reduced by valuation allowances if it is determined that it is more likely than not that the deferred tax asset will not be realized. Accrued interest and penalties related to unrecognized tax benefits are recognized in income tax (expense) benefit in the consolidated statements of income. | |||
        The calculation of tax liabilities involves management's judgments concerning uncertainties in the application of complex tax regulations in the many jurisdictions in which Bunge operates and involves consideration of liabilities for potential tax audit issues in those many jurisdictions based on estimates of whether it is more likely than not those additional taxes will be due. Investment tax credits are recorded in income tax expense in the period in which such credits are granted. | |||
        Revenue Recognition—Sales of agricultural commodities, fertilizers and other products are recognized when persuasive evidence of an arrangement exists, the price is determinable, the product has been delivered, title to the product and risk of loss transfer to the customer, which is dependent on the agreed upon sales terms with the customer and when collection of the sale price is reasonably assured. Sales terms provide for passage of title either at the time and point of shipment or at the time and point of delivery of the product being sold. Net sales consist of gross sales less discounts related to promotional programs and sales taxes. Interest income on secured advances to suppliers is included in net sales due to its operational nature (see Note 6). Shipping and handling charges billed to customers are included in net sales and related costs are included in cost of goods sold. | |||
        Research and Development—Research and development costs are expensed as incurred. Research and development expenses were $19 million, $19 million and $21 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||
        Adoption of New Accounting Pronouncements—In December 2011 and January 2013, Financial Accounting Standards Board (FASB) amended the guidance in ASC Topic 210, Balance Sheet. This amendment requires an entity to disclose both gross and net information about financial instruments that are eligible for offset in the statement of financial position and/or subject to a master netting arrangement or similar agreement. Bunge's derivative assets and liabilities subject to master netting arrangements are presented on a gross basis in its consolidated balance sheets. The adoption of this amendment on January 1, 2013 did not have a significant impact on Bunge's consolidated financial statements (see Note 24). | |||
        In February 2013, FASB amended the guidance in ASC Topic 220, Comprehensive Income. This amendment requires an entity to disclose on a prospective basis the impact on income statement line items for significant items reclassified from other comprehensive income to net income during the period. The adoption of this amendment expanded Bunge's disclosures in its consolidated financial statements (see Note 14). | |||
        New Accounting Pronouncements—In March 2013, FASB amended existing guidance of ASC Topic 830, Foreign Currency Matters (Topic 830). This amended guidance is related to the transfer of currency translation adjustments from other comprehensive income into net income in certain circumstances. The amended guidance aims to resolve diversity in practice as to whether ASC Topic 810, Consolidation or Topic 830 applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity, or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business. Bunge will be required to apply the amended guidance prospectively for fiscal years beginning after December 31, 2013. The adoption of this standard is not expected to have a material impact on Bunge's consolidated financial statements. | |||
        In July 2013, the FASB issued guidance in ASC Topic 740, (Topic 740) Income Taxes. Topic 740 provided guidance regarding the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exist at the reporting date. Bunge will be required to apply the amended guidance prospectively for fiscal years beginning after December 31, 2013. The adoption of this standard is not expected to have a material impact on Bunge's consolidated financial statements. | |||
Business_Acquisitions
Business Acquisitions | 12 Months Ended |
Dec. 31, 2013 | |
Business Acquisitions | ' |
Business Acquisitions | ' |
2. Business Acquisitions | |
        In December 2013, Bunge acquired Grupo Altex, S.A. de C.V. (Altex) in its milling products segment for $310 million, consisting of $214 million in cash, net of $7 million of cash acquired, and non-cash settlement of an existing loan from Bunge to Altex of $96 million. The purchase price is subject to a post-closing working capital adjustment to be finalized within 90 days after the acquisition. | |
        Altex participates in the Mexican wheat milling industry, producing flour in six manufacturing facilities. Altex customers are primarily in the Mexican food processing sector. The acquisition supports Bunge's strategy of growing its global presence in high growth, value-added food & ingredients businesses supplying food processing customers. | |
        The allocation of the purchase price is based on the fair values of assets acquired and liabilities assumed on December 20, 2013, the effective date of the acquisition. Bunge's recorded fair values as of December 31, 2013 are preliminary, and may be adjusted for information that is currently not available to Bunge, primarily related to certain income tax contingencies. | |
        Tangible assets acquired of $303 million included trade accounts receivable of $27 million, inventories of $35 million, property, plant and equipment of $198 million, and an indemnification asset of $21 million related to certain contingencies for which an indemnification was provided by the sellers. Finite-lived intangible assets acquired of $40 million were primarily related to customer relationships and trade names. The finite-lived intangible assets are being amortized on a straight-line basis over a weighted-average amortization period of 20 years. Liabilities assumed of $30 million primarily included trade accounts payable and certain contingencies. Additionally, Bunge assumed net deferred tax liabilities of $55 million. Goodwill of $59 million (assigned to our milling segment), which is non-deductible for income tax purposes, represents the excess of cost over the fair value of the net tangible and intangible assets acquired. | |
        In the fourth quarter of 2013, Bunge acquired wheat milling assets in the municipality of Vera Cruz, Brazil in its milling products segment for $35 million in cash. The final allocation of the purchase price based on the fair values of assets and liabilities acquired included $12 million allocated to property, plant and equipment, $8 million to other assets and $10 million to inventories, net of liabilities assumed of $2 million. The transaction also resulted in $7 million of goodwill allocated to our milling operations. | |
        In January 2013, Bunge acquired two biodiesel facilities in its agribusiness segment adjacent to existing Bunge facilities from its European biodiesel joint venture for $11 million in cash, net of cash acquired. The purchase price allocation resulted in $4 million of inventory, $17 million of other current assets, $10 million of property, plant and equipment, $19 million of other current liabilities and $1 million of long-term deferred taxes. There were no changes to the joint venture ownership or governance structure as a result of this transaction. | |
        In November 2012, Bunge acquired a margarine plant in Poland in its edible oils products segment for $7 million in cash. The final purchase price allocation resulted in $6 million of property, plant and equipment and $1 million of finite-lived intangible assets. | |
        In July 2012, Bunge acquired a 55% interest in a newly formed oilseed processing joint venture in its agribusiness segment in eastern Europe for $54 million comprised of $17 million in cash and $37 million in redeemable noncontrolling interest. Bunge consolidates the joint venture in its consolidated financial statements. In conjunction with the formation of the venture, Bunge entered into an agreement to acquire the remaining 45% interest at either Bunge's or the noncontrolling interest holder's option in the future. The exercise date and price of the option are reasonably determinable. As a result, Bunge reports the noncontrolling interest as redeemable noncontrolling interest in its consolidated balance sheets (see Note 23). The final purchase price allocation included $3 million to inventory, $23 million to other current assets, $131 million to property, plant and equipment, $14 million to other current liabilities and $89 million to long-term debt. | |
        In June 2012, Bunge acquired sugarcane milling assets in Brazil in its sugar and bioenergy segment for $61 million in cash. The final purchase price allocation resulted in $10 million of biological assets, $43 million of property, plant and equipment, $1 million of finite-lived intangible assets and $7 million of goodwill. | |
        In May 2012, Bunge acquired an additional 63.5% interest in a wheat mill and bakery dry mix operation in North America in its milling products segment for $102 million in cash, net of cash acquired, and $8 million in redeemable noncontrolling interest. Prior to this transaction, Bunge had a 31.5% interest in the entity which was accounted for under the equity method. Upon completion of the transaction, Bunge had a 95% interest in the entity, which it consolidates. Upon assuming control of the entity, Bunge recorded a non-cash, non-taxable gain of $36 million to adjust its previously existing noncontrolling interest to fair value of $52 million. The final purchase price allocation resulted in $21 million of inventories, $35 million of other current assets, $71 million of property, plant and equipment, $32 million of finite-lived intangible assets, $18 million of other liabilities, $24 million of deferred tax liabilities and $45 million of goodwill (see Note 23). In December 2013, Bunge acquired the remaining 5% interest in La Espiga for $10 million in cash. | |
        In March 2012, Bunge acquired an asset management business in Europe in its agribusiness segment for $9 million, net of cash acquired. The final purchase price allocation resulted in $52 million of other assets, $344 million of long-term investments, $23 million of other finite-lived intangible assets, $54 million of other liabilities, $316 million of long-term debt and $40 million allocated to noncontrolling interest. Of these amounts, $14 million of other net assets, $344 million of long-term investments, $316 million of long-term debt and $40 million of noncontrolling interest are attributed to certain managed investment funds, which Bunge consolidates as it is deemed to be the primary beneficiary. The assets of the consolidated funds can only be used to settle the liabilities of such funds. Consolidated liabilities at December 31, 2012 include total liabilities of $354 million for which the consolidated funds creditors do not have recourse to Bunge (see Notes 1, 12 and 17). | |
        In February 2012, Bunge acquired an edible oils and fats business in India in its edible oil products segment for $94 million, net of cash acquired. The purchase price consisted of $77 million cash and $17 million acquired debt. The final purchase price allocation resulted in $15 million of inventories, $4 million of other current assets, $27 million of property, plant and equipment, $53 million of finite-lived intangible assets (primarily trademark and brands) and $5 million of other liabilities. | |
        Also in 2012, Bunge acquired finite-lived intangible assets and property, plant and equipment in three separate transactions in North America and Africa in its agribusiness segment for a total of $24 million cash. | |
Discontinued_Operations_and_Bu
Discontinued Operations and Business Divestitures | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Discontinued Operations and Business Divestitures | ' | ||||||||||
Discontinued Operations and Business Divestitures | ' | ||||||||||
3. Discontinued Operations and Business Divestitures | |||||||||||
        On December 17, 2013, OCP Group (OCP) and Bunge completed a transaction for OCP to acquire Bunge's 50% ownership interest in its Moroccan fertilizer joint venture for $37 million in cash. The joint venture, Bunge Maroc Phosphore S.A. was formed in 2008 to produce fertilizers in Morocco and to serve as an additional source of phosphate-based raw materials and intermediate products for Bunge's fertilizer businesses in South America. | |||||||||||
        On August 8, 2013, Bunge sold its Brazilian fertilizer distribution business, including blending facilities, brands and warehouses to Yara International ASA (Yara) for $750 million in cash. As a result of the transaction, Bunge will no longer have significant ongoing cash flows related to the Brazilian fertilizer business or any significant ongoing participation in the operations of this business. Bunge received cash proceeds of the Brazilian real equivalent of $750 million in cash upon closing the transaction, resulting in a gain of $148 million ($112 million net of tax) which is included in discontinued operations in the consolidated statement of income for the year ended December 31, 2013. Included in the gain are approximately $7 million of transaction costs incurred in connection with the divestiture and $41 million release of the cumulative translation adjustment associated with the disposed business. Assets and liabilities subject to the purchase and sale agreement were classified as held for sale in Bunge's consolidated balance sheet as of December 31, 2012. | |||||||||||
        Additionally, in December 2012 Bunge sold its fertilizer distribution venture to its partner GROWMARK, Inc. and ceased its North American fertilizer distribution operations. The operating results of the Brazilian and North American fertilizer distribution businesses are reported within income from discontinued operations, net of tax, in the consolidated statements of income and have been excluded from segment results for all periods presented (see Note 28). | |||||||||||
        The following table summarizes the results from discontinued operations. | |||||||||||
Year Ended December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
Net sales | $ | 1,217 | $ | 2,503 | $ | 2,646 | |||||
Cost of goods sold | (1,138 | ) | (2,498 | ) | (2,545 | ) | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Gross profit | 79 | 5 | 101 | ||||||||
Selling, general and administrative expenses | (64 | ) | (143 | ) | (117 | ) | |||||
Interest income | 14 | 25 | 6 | ||||||||
Interest expense | (9 | ) | (23 | ) | (7 | ) | |||||
Foreign exchange gain (loss) | (7 | ) | 21 | (3 | ) | ||||||
Other income (expenses)—net | (12 | ) | (30 | ) | (16 | ) | |||||
Gain on sale of Brazilian fertilizer business | 148 | — | — | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income (loss) from discontinued operations before income tax | 149 | (145 | ) | (36 | ) | ||||||
Income tax (expense) benefit | (52 | ) | (197 | ) | 11 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income (loss) from discontinued operations, net of tax | $ | 97 | $ | (342 | ) | $ | (25 | ) | |||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
        Assets held for sale associated with discontinued operations as of December 31, 2012 are as follows: | |||||||||||
(US$ in millions) | December 31, | ||||||||||
2012 | |||||||||||
Assets: | |||||||||||
Cash and cash equivalents | $ | 2 | |||||||||
Trade accounts receivable (less allowance of $2) | 189 | ||||||||||
Inventories | 402 | ||||||||||
Other current assets | 67 | ||||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Current assets held for sale | $ | 660 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Property, plant and equipment, net | $ | 218 | |||||||||
Deferred income taxes | 40 | ||||||||||
Other non-current assets | (8 | ) | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Non-current assets held for sale | $ | 250 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Liabilities: | |||||||||||
Trade accounts payable | $ | 157 | |||||||||
Other current liabilities | 140 | ||||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Current liabilities held for sale | $ | 297 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Other non-current liabilities | $ | 13 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Non-current liabilities held for sale | $ | 13 | |||||||||
​ | ​ | ​ | ​ | ​ |
Trade_Structured_Finance_Progr
Trade Structured Finance Program | 12 Months Ended |
Dec. 31, 2013 | |
Trade Structured Finance Program | ' |
Trade Structured Finance Program | ' |
4. Trade Structured Finance Program | |
        Bunge engages in various trade structured finance activities to leverage the value of its trade flows across its operating regions. These activities include a Program under which a Bunge entity generally obtains U.S. dollar-denominated letters of credit (LCs) (each based on an underlying commodity trade flow) from financial institutions, as well as foreign exchange forward contracts, and time deposits denominated in the local currency of the financial institution counterparties, all of which are subject to legally enforceable set-off agreements. The LCs and foreign exchange contracts are presented within the line item letter of credit obligations under trade structured finance program on the consolidated balance sheets as of December 31, 2013 and 2012. The net return from activities under this Program, including fair value changes, is included as a reduction of cost of goods sold in the accompanying consolidated statements of income. | |
        At December 31, 2013 and 2012, time deposits (with weighted-average interest rates of 8.36% and 8.95%, respectively) and LCs (including foreign exchange contracts) totaled $4,470 million and $3,048 million, respectively. In addition, at December 31, 2013 and 2012, the fair values of the time deposits (Level 2 measurements) totaled approximately $4,470 million and $3,048 million, respectively, and the fair values of the LCs (Level 2 measurements) totaled approximately $4,360 million and $3,024 million, respectively. The fair values approximated the carrying amounts of the related financial instruments due to their short-term nature. The fair values of the foreign exchange forward contracts (Level 2 measurements) were a loss of $110 million and a loss of $24 million at December 31, 2013 and 2012, respectively. | |
        During the years ended December 31, 2013, 2012 and 2011, total proceeds from issuances of LCs were $9,472 million, $5,210 million and $3,617 million, respectively. These cash inflows are offset by the related cash outflows resulting from placement of the time deposits and repayment of the LCs. All cash flows related to the Program are included in operating activities in the consolidated statements of cash flows. | |
Inventories
Inventories | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventories | ' | |||||||
Inventories | ' | |||||||
5. Inventories | ||||||||
        Inventories by segment are presented below. Readily marketable inventories refers to inventories that are readily convertible to cash because of their commodity characteristics, widely available markets and international pricing mechanisms. | ||||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Agribusiness(1) | $ | 4,498 | $ | 5,240 | ||||
Sugar and Bioenergy(2) | 549 | 488 | ||||||
Edible Oil Products(3) | 487 | 617 | ||||||
Milling Products(4) | 210 | 184 | ||||||
Fertilizer(4)(5) | 52 | 61 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 5,796 | $ | 6,590 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||
Includes readily marketable agricultural commodity inventories carried at fair value of $4,163 million and $4,892 million at December 31, 2013 and 2012, respectively. Of these amounts $2,927 million and $3,442 million can be attributable to merchandising activities at December 31, 2013 and 2012, respectively. All other agribusiness segment inventories are carried at lower of cost or market. | ||||||||
-2 | ||||||||
Includes readily marketable sugar inventories of $182 million and $199 million at December 31, 2013 and 2012, respectively. Of these sugar inventories, $109 million and $144 million are carried at fair value at December 31, 2013 and 2012, respectively, in Bunge's trading and merchandising business. Sugar and ethanol inventories in Bunge's industrial production business are carried at lower of cost or market. | ||||||||
-3 | ||||||||
Edible oil products inventories are generally carried at lower of cost or market, with the exception of readily marketable inventories of bulk soybean and canola oil which are carried at fair value in the aggregate amount of $67 million and $215 million at December 31, 2013 and 2012, respectively. | ||||||||
-4 | ||||||||
Milling products and fertilizer inventories are carried at lower of cost or market. | ||||||||
-5 | ||||||||
Fertilizer inventories at December 31, 2012, exclude amounts classified as held for sale (see Note 3). | ||||||||
Other_Current_Assets
Other Current Assets | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Current Assets | ' | |||||||
Other Current Assets | ' | |||||||
6. Other Current Assets | ||||||||
        Other current assets consist of the following: | ||||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Prepaid commodity purchase contracts(1) | $ | 220 | $ | 299 | ||||
Secured advances to suppliers, net(2) | 555 | 390 | ||||||
Unrealized gains on derivative contracts, at fair value | 1,561 | 1,230 | ||||||
Recoverable taxes, net | 442 | 465 | ||||||
Margin deposits(3) | 305 | 363 | ||||||
Marketable securities, at fair value | 162 | 105 | ||||||
Deferred purchase price receivable, at fair value(4) | 96 | 134 | ||||||
Prepaid expenses | 261 | 314 | ||||||
Other | 780 | 518 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 4,382 | $ | 3,818 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||
Prepaid commodity purchase contracts represent advance payments against fixed price contracts for future delivery of specified quantities of agricultural commodities. | ||||||||
-2 | ||||||||
Bunge provides cash advances to suppliers, primarily Brazilian farmers of soybeans and sugarcane, to finance a portion of the suppliers' production costs. 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. The secured advances to farmers are reported net of allowances of $20 million and $12 million at December 31, 2013 and 2012, respectively. Changes in the allowance for 2013 included an increase of $20 million for additional bad debt provisions and a reduction in the allowance for recoveries of $12 million. Changes in the allowance for 2012 included an increase of $17 million for additional bad debt provisions and a reduction in the allowance for recoveries and write-offs of $7 million and $1 million, respectively. | ||||||||
Interest earned on secured advances to suppliers of $32 million, $27 million and $25 million for the years ended December 31, 2013, 2012, and 2011, respectively, is included in net sales in the consolidated statements of income. | ||||||||
-3 | ||||||||
Margin deposits include U.S. treasury securities at fair value and cash. | ||||||||
-4 | ||||||||
Deferred purchase price receivable represents additional credit support for the investment conduits in Bunge's accounts receivables sales program (see Note 18). | ||||||||
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment | ' | |||||||
Property, Plant and Equipment | ' | |||||||
7. Property, Plant and Equipment | ||||||||
        Property, plant and equipment consist of the following: | ||||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Land | $ | 395 | $ | 353 | ||||
Biological assets | 501 | 480 | ||||||
Buildings | 2,071 | 1,886 | ||||||
Machinery and equipment | 5,135 | 4,938 | ||||||
Furniture, fixtures and other | 423 | 471 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
8,525 | 8,128 | |||||||
Less: accumulated depreciation and depletion | (3,591 | ) | (3,395 | ) | ||||
Plus: construction in progress | 1,141 | 1,155 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 6,075 | $ | 5,888 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
        Bunge capitalized expenditures of $1,001 million, $1,139 million and $1,061 million during the years ended 2013, 2012 and 2011, respectively. Included in these capitalized expenditures was capitalized interest on construction in progress of $4 million, $13 million and $16 million for the years ended December 31, 2013, 2012 and 2011, respectively. Depreciation and depletion expense was $524 million, $504 million and $465 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||
Goodwill
Goodwill | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Goodwill | ' | |||||||||||||||||||
Goodwill | ' | |||||||||||||||||||
8. Goodwill | ||||||||||||||||||||
        Bunge performs its annual goodwill impairment testing in the fourth quarter of each year. Step 1 of the goodwill impairment test compares the fair value of Bunge's reporting units to which goodwill has been allocated to the carrying values of those reporting units. The fair value of the agribusiness and sugar and bioenergy segment reporting units is determined using a combination of two methods: estimates based on market earnings multiples of peer companies identified for the reporting unit (the market approach) and a discounted cash flow model with estimates of future cash flows based on internal forecasts of revenues and expenses (the income approach). The market multiples are generally derived from public information related to comparable companies with operating and investment characteristics similar to those of the agribusiness and sugar and bioenergy reporting units and from market transactions in the industry. The income approach estimates fair value by discounting a reporting unit's estimated future cash flows using a weighted-average cost of capital that reflects current market conditions and the risk profile of the respective business unit and includes, among other things, assumptions about variables such as commodity prices, crop and related throughput and production volumes, profitability, future capital expenditures and discount rates, all of which are subject to a high degree of judgment. For all other reporting units, the estimated fair value of the reporting unit is determined utilizing a discounted cash flow analysis. | ||||||||||||||||||||
        There were no impairment charges resulting from Bunge's annual impairment testing of any of its reporting units goodwill for the year ended December 31, 2013. | ||||||||||||||||||||
        For the year ended December 31, 2012, a very low level of market transactions in the sugar and bioenergy industry and consecutive years of weak sugarcane harvests that resulted from adverse weather conditions in 2012 and 2011 combined with low ethanol prices in Brazil, resulted in the estimated fair value of Bunge's sugar and bioenergy reporting unit being below book value. Step 2 of the analysis was performed to measure the potential impairment. This analysis resulted in a pre-tax impairment charge of $514 million ($339 million, net of tax). | ||||||||||||||||||||
        Changes in the carrying value of goodwill by segment for the years ended December 31, 2013 and 2012 are as follows: | ||||||||||||||||||||
(US$ in millions) | Agribusiness | Sugar and | Edible Oil | Milling | Fertilizer | Total | ||||||||||||||
Bioenergy | Products | Products | ||||||||||||||||||
Goodwill, gross | $ | 216 | $ | 560 | $ | 110 | $ | 9 | $ | 1 | $ | 896 | ||||||||
Accumulated impairment losses | — | — | — | (3 | ) | — | (3 | ) | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2011, net | 216 | 560 | 110 | 6 | 1 | 893 | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Goodwill acquired(1) | — | 7 | — | 45 | — | 52 | ||||||||||||||
Reallocation of acquired goodwill(2) | (1 | ) | — | (13 | ) | — | 1 | (13 | ) | |||||||||||
Impairment(4) | — | (514 | ) | — | — | — | (514 | ) | ||||||||||||
Tax benefit on goodwill amortization(3) | (6 | ) | — | — | — | — | (6 | ) | ||||||||||||
Foreign exchange translation | (12 | ) | (53 | ) | 4 | — | — | (61 | ) | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Goodwill, gross | 197 | 514 | 101 | 54 | 2 | 868 | ||||||||||||||
Accumulated impairment losses | — | (514 | ) | — | (3 | ) | — | (517 | ) | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2012, net | 197 | — | 101 | 51 | 2 | 351 | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Goodwill acquired(1) | — | — | — | 67 | — | 67 | ||||||||||||||
Tax benefit on goodwill amortization(3) | (5 | ) | — | — | — | — | (5 | ) | ||||||||||||
Foreign exchange translation | (18 | ) | — | (2 | ) | (1 | ) | — | (21 | ) | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Goodwill, gross | 174 | 514 | 99 | 120 | 2 | 909 | ||||||||||||||
Accumulated impairment losses | — | (514 | ) | — | (3 | ) | — | (517 | ) | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2013, net | $ | 174 | $ | — | $ | 99 | $ | 117 | $ | 2 | $ | 392 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||||||||||||||
See Note 2. | ||||||||||||||||||||
-2 | ||||||||||||||||||||
Beginning in the first quarter of 2012, the management responsibilities for certain Brazilian port facilities were moved from the agribusiness segment to the fertilizer segment. Accordingly, $1Â million of goodwill attributable to these port facilities was reclassified to conform to the 2012 segment presentation. | ||||||||||||||||||||
Upon finalization of the purchase price allocation in 2012 for Bunge's acquisition of a tomato products business, finite-lived intangibles were increased by $14Â million, inventories were reduced by $6Â million, deferred tax liabilities were reduced by $5Â million and goodwill was reduced by $13Â million. | ||||||||||||||||||||
-3 | ||||||||||||||||||||
Bunge's Brazilian subsidiary's tax deductible goodwill is in excess of its book goodwill. For financial reporting purposes for goodwill acquired prior to 2009, the tax benefits attributable to the excess tax goodwill are first used to reduce associated goodwill and then other intangible assets to zero, prior to recognizing any income tax benefit in the consolidated statements of income. | ||||||||||||||||||||
-4 | ||||||||||||||||||||
See Note 10. | ||||||||||||||||||||
Other_Intangible_Assets
Other Intangible Assets | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Intangible Assets | ' | |||||||
Other Intangible Assets | ' | |||||||
9. Other Intangible Assets | ||||||||
        Other intangible assets consist of the following: | ||||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Trademarks/brands, finite-lived | $ | 210 | $ | 214 | ||||
Licenses | 12 | 11 | ||||||
Other | 286 | 212 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
508 | 437 | |||||||
Less accumulated amortization: | ||||||||
Trademarks/brands(1) | (63 | ) | (59 | ) | ||||
Licenses | (5 | ) | (4 | ) | ||||
Other | (114 | ) | (79 | ) | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
(182 | ) | (142 | ) | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Intangible assets, net of accumulated amortization | $ | 326 | $ | 295 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||
Bunge's Brazilian subsidiary's tax deductible goodwill in the agribusiness segment is in excess of its book goodwill. For financial reporting purposes, for other intangible assets acquired prior to 2009, before 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 2013, Bunge acquired $10 million of trademarks and $81 million of other intangible assets including $39 million of customer lists, $1 million of patents for developed technology and $41 million of favorable contractual arrangements. These amounts were allocated $40 million to the agribusiness segment and $51 million to the food and ingredients segment. Finite lives of these assets range from 5 to 20 years. | ||||||||
        In 2012, Bunge acquired $59 million of trademarks and $71 million of other intangible assets including $15 million of customer lists, $22 million of patents for developed technology and $23 million of favorable contractual arrangements. These amounts were allocated $45 million to the agribusiness segment, $1 million to the sugar and bioenergy segment, $52 million to the edible oils segment and $32 million to the milling products segment. Finite lives of these assets range from 5 to 20 years. | ||||||||
        Aggregate amortization expense was $44 million, $34 million and $29 million for the years ended December 31, 2013, 2012 and 2011, respectively. The estimated future aggregate amortization expense is $30 million for 2014 and approximately $30 million annually for 2015 through 2018. | ||||||||
Impairments
Impairments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Impairments | ' | ||||||||||||||||
Impairments | ' | ||||||||||||||||
10. Impairments | |||||||||||||||||
        Impairment—For the year ended December 31, 2013, Bunge recorded pre-tax, non-cash impairment charges of $21 million, $10 million and $3 million in cost of goods sold, selling, general and administrative expenses and other income (expense)-net, respectively, in its consolidated statement of income. Of these amounts, $24 million relates to several agricultural, industrial assets and other fixed assets, primarily machinery held for sale in Brazil in the sugar and bioenergy segment. The fair values of the assets were determined utilizing future expected cash flows and bids from prospective buyers. | |||||||||||||||||
        In 2012, Bunge recorded pre-tax, non-cash impairment charges of $30 million and $19 million in selling, general and administrative expenses and other income (expense)-net, respectively, in its consolidated statement of income. These charges relate to affiliate loans and equity method investments in Europe and North America. Approximately $39 million and $10 million of the charges were included in our sugar and bioenergy and agribusiness segments, respectively. The fair values of these investments were determined utilizing discounted future expected cash flows. | |||||||||||||||||
        Bunge recorded no significant impairment charges during the year ended December 31, 2011. | |||||||||||||||||
        Nonrecurring fair value measurements—The following table summarizes assets measured at fair value on a nonrecurring basis subsequent to initial recognition at December 31, 2013 and December 31, 2012, respectively. There were no non-recurring fair value measurements at December 31, 2011. For additional information on Level 1, 2 and 3 inputs see Note 15. | |||||||||||||||||
Fair Value | |||||||||||||||||
Year Ended | Measurements Using | Impairment Losses | |||||||||||||||
December 31, 2013 | Year ended | ||||||||||||||||
(US$ in millions) | Level 1 | Level 2 | Level 3 | December 31, 2013 | |||||||||||||
Non-current assets held for sale | $ | 1 | $ | — | $ | — | $ | 1 | $ | (2 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Affiliate loans | $ | 4 | $ | — | $ | — | $ | 4 | $ | (3 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Investment in affiliates | $ | — | $ | — | $ | — | $ | — | $ | (2 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Property, plant and equipment | $ | 4 | $ | — | $ | — | $ | 4 | $ | (22 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Fair Value | |||||||||||||||||
Year Ended | Measurements Using | Impairment Losses | |||||||||||||||
December 31, 2012 | Year ended | ||||||||||||||||
(US$ in millions) | Level 1 | Level 2 | Level 3 | December 31, 2012 | |||||||||||||
Affiliate loans | $ | 15 | $ | — | $ | — | $ | 15 | $ | (30 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Investment in affiliates | $ | 31 | $ | — | $ | — | $ | 31 | $ | (19 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Goodwill (see Note 8) | $ | — | $ | — | $ | — | $ | — | $ | (514 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Investments_in_Affiliates
Investments in Affiliates | 12 Months Ended |
Dec. 31, 2013 | |
Investments in Affiliates | ' |
Investments in Affiliates | ' |
11. Investments in Affiliates | |
        Bunge participates in various unconsolidated joint ventures and other investments accounted for using the equity method. Certain equity method investments at December 31, 2013 are described below. Note that in 2013, Bunge sold its 50% interest in Bunge Maroc Phosphore S.A., a joint venture to produce fertilizers in Morocco, to its partner in the venture Office Chérifien des Phosphates (OCP), for $37 million, recognizing a pre-tax gain of $1 million, and also sold its 50% interest in Bunge Ergon Vicksburg, LLC (BEV), a corn based ethanol producer, to its partner for $10 million in cash, recognizing a $2 million pre-tax gain. Bunge allocates equity in earnings of affiliates to its reporting segments. | |
Agribusiness | |
        PT Bumiraya Investindo—Bunge has a 35% ownership interest in PT Bumiraya Investindo, an Indonesian palm plantation company. | |
        Bunge-SCF Grain, LLC—Bunge has a 50% interest in Bunge-SCF Grain, LLC, a joint venture with SCF Agri/Fuels LLC that operates grain facilities along the Mississippi River. | |
        Caiasa—Paraguay Complejo Agroindustrial Angostura S.A.—Bunge has a 33.33% ownership interest in a oilseed processing facility joint venture with Louis Dreyfus Commodities and Aceitera General Deheza S.A. (AGD), in Paraguay. | |
        Diester Industries International S.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. | |
        Terminal 6 S.A. and Terminal 6 Industrial S.A.—Bunge has a joint venture in Argentina with 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. | |
        Augustea Bunge Maritime Ltd.—Bunge has a joint venture in Malta with Augustea Atlantica S.p.A. (Augustea) which was formed to acquire, own, operate, charter and sell dry-bulk ships. Bunge has a 49.15% interest in this joint venture. | |
Sugar and Bioenergy | |
        ProMaiz—Bunge has a joint venture in Argentina with AGD for the construction and operation of a corn wet milling facility. Bunge is a 50% owner in this joint venture. | |
        Southwest Iowa Renewable Energy, LLC (SIRE)—Bunge is a 25% 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. | |
        Solazyme Incorporated—In April 2012, Bunge entered into a joint venture agreement with Solazyme Incorporated for the construction and operation of a renewable oils production facility in Brazil, which will use sugar supplied by one of Bunge's mills to produce renewable oils. Bunge has a 49.9% interest in this entity. | |
Other_NonCurrent_Assets
Other Non-Current Assets | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Other Non-Current Assets | ' | |||||||||||||
Other Non-Current Assets | ' | |||||||||||||
12. Other Non-Current Assets | ||||||||||||||
        Other non-current assets consist of the following: | ||||||||||||||
December 31, | ||||||||||||||
(US$ in millions) | 2013 | 2012 | ||||||||||||
Recoverable taxes, net(1) | $ | 283 | $ | 309 | ||||||||||
Long-term receivables from farmers in Brazil, net(1) | 134 | 164 | ||||||||||||
Judicial deposits(1) | 153 | 169 | ||||||||||||
Other long-term receivables | 40 | 60 | ||||||||||||
Income taxes receivable(1) | 304 | 431 | ||||||||||||
Long-term investments | 296 | 414 | ||||||||||||
Affiliate loan receivable, net | 25 | 59 | ||||||||||||
Other | 130 | 140 | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Total | $ | 1,365 | $ | 1,746 | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
-1 | ||||||||||||||
These non-current assets arise primarily from our Brazilian operations and their realization could take in excess of five years. | ||||||||||||||
        Recoverable taxes—Recoverable taxes are reported net of valuation allowances of $57 million and $47 million at December 31, 2013 and 2012, respectively. | ||||||||||||||
        Long-term receivables from farmers in Brazil, net—Bunge provides financing to farmers in Brazil, primarily through secured advances against farmer commitments to deliver agricultural commodities (primarily soybeans) upon harvest of the then-current year's crop and through credit sales of fertilizer to farmers. The long-term receivables from farmers in Brazil include defaulted receivables from the 2005 and 2006 Brazil poor crop years. These were commercial transactions intended to be short-term in nature with amounts expected to be repaid either in cash or through delivery to Bunge of agricultural commodities when the related crops were harvested. | ||||||||||||||
        Bunge evaluates this single portfolio segment by class of receivables, and has identified accounts in legal collection processes and renegotiated amounts as classes of long-term receivables from farmers. Valuation allowances for accounts in legal collection processes are determined by Bunge on individual accounts based on the fair value of the collateral provided as security for the secured advance or credit sale. The fair value is determined using a combination of internal and external resources, including published information concerning Brazilian land values by region. For determination of the valuation allowances for renegotiated amounts, Bunge considers historical experience with the individual farmers, current weather and crop conditions, as well as the fair value of non-crop collateral. | ||||||||||||||
        The table below summarizes Bunge's recorded investment in long-term receivables from farmers in Brazil for amounts in the legal collection process and renegotiated amounts. | ||||||||||||||
December 31, | ||||||||||||||
(US$ in millions) | 2013 | 2012 | ||||||||||||
Legal collection process(1) | $ | 213 | $ | 269 | ||||||||||
Renegotiated amounts(2) | 117 | 119 | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Total | $ | 330 | $ | 388 | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
-1 | ||||||||||||||
All amounts in legal process are considered past due upon initiation of legal action. | ||||||||||||||
-2 | ||||||||||||||
All renegotiated amounts are current on repayment terms. | ||||||||||||||
        The average recorded investment in long-term receivables from farmers in Brazil for the years ended December 31, 2013 and 2012 was $363 million and $444 million, respectively. The table below summarizes Bunge's recorded investment in long-term receivables from farmers in Brazil and the related allowance amounts. | ||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||
(US$ in millions) | Recorded | Allowance | Recorded | Allowance | ||||||||||
Investment | Investment | |||||||||||||
For which an allowance has been provided: | ||||||||||||||
Legal collection process | $ | 139 | $ | 132 | $ | 178 | $ | 165 | ||||||
Renegotiated amounts | 84 | 64 | 67 | 59 | ||||||||||
For which no allowance has been provided: | ||||||||||||||
Legal collection process | 74 | — | 91 | — | ||||||||||
Renegotiated amounts | 33 | — | 52 | — | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 330 | $ | 196 | $ | 388 | $ | 224 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
        The table below summarizes the activity in the allowance for doubtful accounts related to long-term receivables from farmers in Brazil. | ||||||||||||||
December 31, | ||||||||||||||
(US$ in millions) | 2013 | 2012 | ||||||||||||
Beginning balance | $ | 224 | $ | 199 | ||||||||||
Bad debt provision | 23 | 92 | ||||||||||||
Recoveries | (24 | ) | (19 | ) | ||||||||||
Write-offs | (3 | ) | (29 | ) | ||||||||||
Transfers(1) | 5 | (1 | ) | |||||||||||
Foreign exchange translation | (29 | ) | (18 | ) | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Ending balance | $ | 196 | $ | 224 | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
-1 | ||||||||||||||
Represents reclassifications from allowance for doubtful accounts-current for secured advances to suppliers. | ||||||||||||||
        Judicial deposits—Judicial deposits are funds that Bunge has placed on deposit with the courts in Brazil. These funds are held in judicial escrow relating to certain legal proceedings pending legal resolution and bear interest at the SELIC rate (the benchmark rate of the Brazilian central bank). | ||||||||||||||
        Income taxes receivable—Income taxes receivable includes overpayments of current income taxes plus accrued interest. These income tax prepayments are expected to be utilized for settlement of future income tax obligations. Income taxes receivable in Brazil bear interest at the SELIC rate (the benchmark rate of the Brazilian central bank). | ||||||||||||||
        Long-term investments—Long-term investments represent investments held by managed investment funds and other investments including available for sale securities included in Bunge's consolidated financial statements. The consolidated funds are, for GAAP purposes, investment companies and therefore are not required to consolidate their majority owned and controlled investments. Bunge reflects these investments at fair value. The fair values of these investments (Level 3 measurements) totals $238 million and $349 million at December 31, 2013 and December 31, 2012, respectively. | ||||||||||||||
        Affiliate loans receivable, net—Affiliate loans receivable, net includes primarily interest bearing receivables from unconsolidated affiliates with an initial maturity of greater than one year. | ||||||||||||||
Other_Current_Liabilities
Other Current Liabilities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Current Liabilities | ' | |||||||
Other Current Liabilities | ' | |||||||
13. Other Current Liabilities | ||||||||
        Other current liabilities consist of the following: | ||||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Accrued liabilities | $ | 940 | $ | 968 | ||||
Unrealized losses on derivative contracts, at fair value | 1,401 | 1,185 | ||||||
Advances on sales | 330 | 223 | ||||||
Other | 347 | 118 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 3,018 | $ | 2,494 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Income Taxes | ' | ||||||||||
Income Taxes | ' | ||||||||||
14. 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 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 December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
United States | $ | 179 | $ | 215 | $ | 77 | |||||
Non-United States | 835 | 157 | 943 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 1,014 | $ | 372 | $ | 1,020 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
        The components of the income tax (expense) benefit are: | |||||||||||
Year Ended December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
Current:(1) | |||||||||||
United States | $ | (33 | ) | $ | (87 | ) | $ | (12 | ) | ||
Non-United States | (411 | ) | (128 | ) | (238 | ) | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
(444 | ) | (215 | ) | (250 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Deferred: | |||||||||||
United States | (18 | ) | 22 | (29 | ) | ||||||
Non-United States | (442 | ) | 199 | 224 | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
(460 | ) | 221 | 195 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | (904 | ) | $ | 6 | $ | (55 | ) | |||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | |||||||||||
Included in current income tax expense are $32Â million, $7Â million, and $19Â million related to uncertain tax benefits, respectively. | |||||||||||
        Reconciliation of the income tax (expense) benefit if computed at the U.S. Federal income tax rate to Bunge's reported income tax benefit (expense) is as follows: | |||||||||||
Year Ended December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
Income from operations before income tax | $ | 1,014 | $ | 372 | $ | 1,020 | |||||
Income tax rate | 35 | % | 35 | % | 35 | % | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income tax expense at the U.S. Federal tax rate | (355 | ) | (130 | ) | (357 | ) | |||||
Adjustments to derive effective tax rate: | |||||||||||
Foreign earnings taxed at different statutory rates | 30 | 47 | 342 | ||||||||
Valuation allowances | (642 | ) | (1 | ) | 7 | ||||||
Goodwill amortization | 1 | 29 | 43 | ||||||||
Fiscal incentives(1) | 48 | 51 | 46 | ||||||||
Foreign exchange on monetary items | (13 | ) | (12 | ) | 1 | ||||||
Tax rate changes | (5 | ) | 23 | (4 | ) | ||||||
Non-deductible expenses | (44 | ) | (6 | ) | (3 | ) | |||||
Uncertain tax positions | (32 | ) | 4 | (18 | ) | ||||||
Deferred balance adjustments | (52 | ) | (56 | ) | — | ||||||
Foreign income taxed in Brazil | 136 | 46 | (108 | ) | |||||||
Other | 24 | 11 | (4 | ) | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income tax benefit (expense) | $ | (904 | ) | $ | 6 | $ | (55 | ) | |||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | |||||||||||
Fiscal incentives predominantly relate to investment incentives in Brazil that are exempt from Brazilian income tax. | |||||||||||
        The primary components of the deferred tax assets and liabilities and the related valuation allowances are as follows: | |||||||||||
December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | |||||||||
Deferred income tax assets: | |||||||||||
Net operating loss carryforwards | $ | 1,120 | $ | 959 | |||||||
Property, plant and equipment | 90 | 49 | |||||||||
Employee benefits | 68 | 90 | |||||||||
Tax credit carryforwards | 10 | 7 | |||||||||
Inventories | 49 | 17 | |||||||||
Intangibles | 263 | 258 | |||||||||
Accrued expenses and other | 791 | 589 | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Total deferred income tax assets | 2,391 | 1,969 | |||||||||
Less valuation allowances | (1,048 | ) | (455 | ) | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Deferred income tax assets, net of valuation allowance | 1,343 | 1,514 | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Deferred income tax liabilities: | |||||||||||
Property, plant and equipment | 277 | 84 | |||||||||
Undistributed earnings of affiliates not considered permanently reinvested | 22 | 26 | |||||||||
Intangibles | 115 | 65 | |||||||||
Investments | 97 | 127 | |||||||||
Inventories | 70 | 60 | |||||||||
Accrued expenses and other | 260 | 1 | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Total deferred income tax liabilities | 841 | 363 | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Net deferred income tax assets | $ | 502 | $ | 1,151 | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
        Deferred income tax assets and liabilities are measured using the enacted tax rates expected to apply to the years in which those temporary differences are expected to be recovered or settled. | |||||||||||
        With respect to our unremitted earnings that are not considered to be indefinitely reinvested, we have provided a deferred tax liability totaling $22 million and $26 million as of December 31, 2013 and 2012, respectively. As of December 31, 2013, we have determined the company has unremitted earnings that are considered to be indefinitely reinvested of approximately $971 million and, accordingly, no provision for income taxes has been made. If these earnings were distributed in the form of dividends or otherwise, Bunge would be subject to income taxes either in the form of withholding taxes or income taxes to the recipient; however, it is not practicable to estimate the amount of taxes that would be payable upon remittance of these earnings. | |||||||||||
        At December 31, 2013, Bunge's pre-tax loss carryforwards totaled $5,055 million, of which $2,960 million have no expiration, including loss carryforwards of $2,272 million in Brazil. While loss carryforwards in Brazil can be carried forward indefinitely, annual utilization is limited to 30% of taxable income calculated on an entity by entity basis as Brazil tax law does not provide for a consolidated return concept. As a result, realization of these carryforwards may take in excess of five years. The remaining tax loss carryforwards expire at various periods beginning in 2014 through the year 2029. | |||||||||||
        Income Tax Valuation Allowances—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 recorded an adjustment to the beginning-of-the-year balance of valuation allowances of $512 million for the year ended December 31, 2013. Of this amount, $464 million related to a full valuation allowance on deferred tax assets in Bunge's industrial sugar business in Brazil, resulting from increased cumulative losses, coupled with a negative market outlook, Brazil's existing energy policy, and Bunge's decision to commence a comprehensive process to explore all alternatives to optimize the value of this business. | |||||||||||
        Uncertain Tax Positions—ASC Topic 740 requires applying a "more likely than not" threshold to the recognition and de-recognition of tax benefits. At December 31, 2013 and 2012, respectively, Bunge had recorded uncertain tax positions of $169 million and $98 million in other non-current liabilities and $2 million and $10 million in current liabilities in its consolidated balance sheets. During 2013, 2012 and 2011, respectively, Bunge recognized $10 million, $1 million and $3 million of interest and penalty charges in income tax (expense) benefit in the consolidated statements of income. At December 31, 2013 and 2012, respectively, Bunge had included accrued interest and penalties of $20 million and $4 million within the related tax liability line in the consolidated balance sheets. A reconciliation of the beginning and ending amount of unrecognized tax benefits follows: | |||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
Balance at January 1, | $ | 104 | $ | 113 | $ | 102 | |||||
Additions based on tax positions related to the current year(1) | 22 | 11 | 9 | ||||||||
Additions based on tax positions related to prior years | 48 | 8 | 14 | ||||||||
Reductions for tax positions of prior years | (1 | ) | (2 | ) | — | ||||||
Settlement or clarification from tax authorities | — | (3 | ) | (4 | ) | ||||||
Expiration of statute of limitations | (21 | ) | (22 | ) | (2 | ) | |||||
Foreign currency translation | (1 | ) | (1 | ) | (6 | ) | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance at December 31, | $ | 151 | $ | 104 | $ | 113 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | |||||||||||
Included in 2013 is $17Â million related to business acquisitions completed during the year. | |||||||||||
        Substantially all of the unrecognized tax benefits balance, if recognized, would affect Bunge's effective income tax rate. Bunge believes that it is reasonably possible that approximately $1 million of its unrecognized tax benefits may be recognized by the end of 2014 as a result of a lapse of the statute of limitations or settlement with the tax authorities. | |||||||||||
        Bunge, through its subsidiaries, files income tax returns in the United States (federal and various states) and non-United States jurisdictions. The table below reflects the tax years for which Bunge is subject to income tax examinations by tax authorities: | |||||||||||
Open Tax Years | |||||||||||
North America | 2006 - 2013 | ||||||||||
South America | 2005 - 2013 | ||||||||||
Europe | 2005 - 2013 | ||||||||||
Asia | 2003 - 2013 | ||||||||||
        As of December 31, 2013 and 2012, respectively, Bunge had received from the Brazilian tax authorities proposed adjustments totaling 1,410 million Brazilian reais ($603 million) and 370 million Brazilian reais ($181 million) plus applicable interest and penalties, related to multiple examinations of income tax returns for certain subsidiaries for years up to 2009. Management, in consultation with external legal advisors, has reviewed and responded to the proposed adjustments and believes that it is more likely than not that it will prevail on the majority of the proposed adjustments. At December 31, 2013 and 2012, Bunge recognized uncertain tax positions related to these tax assessments of $82 million and $23 million, respectively. | |||||||||||
        In addition, as of December 31, 2013 and 2012, respectively, Bunge's Argentine subsidiary had received an income tax assessment relating to fiscal years 2006 and 2007 with a claim of approximately 436 million Argentine pesos (approximately $67 million and $89 million as of December 31, 2013 and 2012, respectively), plus previously accrued interest on the outstanding amount due of approximately 750 million Argentine pesos and 593 million Argentine pesos (approximately $115 million and $121 million as of December 31, 2013 and 2012, respectively). Fiscal years 2008 and 2009 are currently being audited by the tax authorities. It is likely that the tax authorities will also audit fiscal years 2010-2012, although no notice has been rendered to Bunge's Argentine subsidiary (see also Note 22). | |||||||||||
        Bunge made cash income tax payments, net of refunds received, of $156 million, $325 million and $277 million during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
Financial_Instruments_and_Fair
Financial Instruments and Fair Value Measurements | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Financial Instruments and Fair Value Measurements | ' | |||||||||||||||||||||||||
Financial Instruments and Fair Value Measurements | ' | |||||||||||||||||||||||||
15. 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 trade accounts payable. Additionally, Bunge uses short and long-term debt to fund operating requirements. Cash and cash equivalents, trade accounts receivable, trade accounts payable and short-term debt are stated at their carrying value, which is a reasonable estimate of fair value. See Note 18 for deferred purchase price receivable (DPP) related to sales of trade receivables. See Note 12 for long-term receivables from farmers in Brazil, net and other long-term investments, see Note 17 for long-term debt, and see Note 10 for other non-recurring fair value measurements. Bunge's financial instruments also include derivative instruments and marketable securities, which 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 the 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, derivatives and certain other assets based on the fair value hierarchy, 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 topic describes three levels within its hierarchy that may be used to measure fair value. | ||||||||||||||||||||||||||
        Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 1 assets and liabilities include exchange traded derivative contracts. | ||||||||||||||||||||||||||
        Level 2: Observable inputs, including Level 1 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. Level 2 assets and liabilities include readily marketable inventories and over-the-counter (OTC) commodity purchase and sale 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. | ||||||||||||||||||||||||||
        Level 3: 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 fair value level classification and disclosure. Level 3 assets and liabilities include assets and liabilities whose value is determined using proprietary pricing models, discounted cash flow methodologies, or similar techniques, as well as assets and liabilities for which the determination of fair value requires significant management judgment or estimation. Bunge believes a change in these inputs would not result in a significant change in the fair values. | ||||||||||||||||||||||||||
        The majority of Bunge's exchange traded agricultural commodity futures are settled daily generally through its clearing subsidiary and therefore such futures are not included in the table below. Assets and liabilities are classified in their entirety based on the lowest level of input that is a significant component of the fair value measurement. The lowest level of input is considered Level 3. | ||||||||||||||||||||||||||
        The following table sets forth by level Bunge's assets and liabilities that were accounted for at fair value on a recurring basis. | ||||||||||||||||||||||||||
Fair Value Measurements at Reporting Date | ||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||
(US$ in millions) | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||||
Readily marketable inventories (Note 5) | $ | — | $ | 4,041 | $ | 298 | $ | 4,339 | $ | — | $ | 4,815 | $ | 436 | $ | 5,251 | ||||||||||
Trade accounts receivable(1) | 5 | 1 | 6 | — | 3 | — | 3 | |||||||||||||||||||
Unrealized gain on designated | ||||||||||||||||||||||||||
derivative contracts(2): | ||||||||||||||||||||||||||
Foreign exchange | — | 7 | — | 7 | — | 1 | — | 1 | ||||||||||||||||||
Unrealized gain on undesignated derivative contracts(2): | ||||||||||||||||||||||||||
Foreign exchange | 5 | 346 | — | 351 | — | 194 | — | 194 | ||||||||||||||||||
Commodities | 408 | 585 | 138 | 1,131 | 61 | 697 | 264 | 1,022 | ||||||||||||||||||
Freight | 59 | — | — | 59 | — | — | 1 | 1 | ||||||||||||||||||
Energy | 11 | — | 2 | 13 | 9 | 2 | 1 | 12 | ||||||||||||||||||
Deferred purchase price receivable (Note 18) | — | 96 | — | 96 | — | 134 | — | 134 | ||||||||||||||||||
Other(3) | 59 | 22 | — | 81 | 234 | 32 | — | 266 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total assets | $ | 542 | $ | 5,102 | $ | 439 | $ | 6,083 | $ | 304 | $ | 5,878 | $ | 702 | $ | 6,884 | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Liabilities: | ||||||||||||||||||||||||||
Trade accounts payable(1) | $ | — | $ | 381 | $ | 76 | $ | 457 | $ | — | $ | 378 | $ | 40 | $ | 418 | ||||||||||
Unrealized loss on designated derivative contracts(4): | ||||||||||||||||||||||||||
Foreign exchange | — | 11 | — | 11 | — | — | — | — | ||||||||||||||||||
Unrealized loss on undesignated derivative contracts(4): | ||||||||||||||||||||||||||
Foreign exchange | 5 | 373 | — | 378 | 1 | 119 | — | 120 | ||||||||||||||||||
Commodities | 361 | 439 | 89 | 889 | 153 | 667 | 180 | 1,000 | ||||||||||||||||||
Freight | 81 | — | 14 | 95 | 3 | — | — | 3 | ||||||||||||||||||
Energy | 11 | — | 17 | 28 | 42 | — | 20 | 62 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total liabilities | $ | 458 | $ | 1,204 | $ | 196 | $ | 1,858 | $ | 199 | $ | 1,164 | $ | 240 | $ | 1,603 | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||||||||||||||||||||
Trade accounts receivable and payable are generally accounted for at amortized cost, with the exception of $6 million and $457 million, at December 31, 2013 and $3 million and $418 million at December, 31, 2012, respectively, related to certain delivered inventory for which the receivable and payable, respectively, fluctuate based on changes in commodity prices. These receivables and payables are hybrid financial instruments for which Bunge has elected the fair value option. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Unrealized gains on designated and undesignated derivative contracts are generally included in other current assets. There are no such amounts included in other non-current assets at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||
Other includes the fair values of marketable securities. | ||||||||||||||||||||||||||
-4 | ||||||||||||||||||||||||||
Unrealized losses on designated and undesignated derivative contracts are generally included in other current liabilities. There are no such amounts included in other non-current liabilities at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||
        Derivatives—Exchange traded futures and options contracts are valued based on unadjusted quoted prices in active markets and are classified within Level 1. Bunge's forward commodity purchase and sale contracts are classified as derivatives along with other OTC derivative instruments relating primarily to freight, energy, foreign exchange and interest rates, and are classified within Level 2 or Level 3 as described below. Bunge estimates fair values based on exchange quoted prices, adjusted as appropriate for differences in local markets. These differences are generally valued using inputs from broker or dealer quotations, or market transactions in either the listed or OTC markets. In such cases, these derivative contracts are classified within Level 2. | ||||||||||||||||||||||||||
        OTC derivative contracts include swaps, options and structured transactions that are valued at fair value generally determined using quantitative models that require the use of multiple market inputs including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets which are not highly active, other observable inputs relevant to the asset or liability, and market inputs corroborated by correlation or other means. These valuation models include inputs such as interest rates, prices and indices to generate continuous yield or pricing curves and volatility factors. Where observable inputs are available for substantially the full term of the asset or liability, the instrument is categorized in Level 2. Certain OTC derivatives trade in less active markets with less availability of pricing information and certain structured transactions can require internally developed model inputs that might not be observable in or corroborated by the market. When unobservable inputs have a significant impact on the measurement of fair value, the instrument is categorized in Level 3. | ||||||||||||||||||||||||||
        Exchange traded or cleared derivative contracts are classified in Level 1, thus transfers of assets and liabilities into and/or out of Level 1 occur infrequently. Transfers into Level 1 would generally only be expected to occur when an exchange cleared derivative contract historically valued using a valuation model as the result of a lack of observable inputs becomes sufficiently observable, resulting in the valuation price being essentially the exchange traded price. There were no significant transfers into or out of Level 1 during the periods presented. | ||||||||||||||||||||||||||
        Readily marketable inventories—Readily marketable inventories reported at fair value are valued based on commodity futures exchange quotations, broker or dealer quotations, or market transactions in either listed or OTC markets with appropriate adjustments for differences in local markets where Bunge's inventories are located. In such cases, the inventory is classified within Level 2. Certain inventories may utilize significant unobservable data related to local market adjustments to determine fair value. In such cases, the inventory is classified as Level 3. | ||||||||||||||||||||||||||
        If Bunge used different methods or factors to determine fair values, amounts reported as unrealized gains and losses on derivative contracts and readily marketable inventories at fair value in the consolidated balance sheets and consolidated statements of income could differ. Additionally, if market conditions change subsequent to the reporting date, amounts reported in future periods as unrealized gains and losses on derivative contracts and readily marketable inventories at fair value in the consolidated balance sheets and consolidated statements of income could differ. | ||||||||||||||||||||||||||
        Level 3 Measurements—Transfers in and/or out of Level 3 represent existing assets or liabilities that were either previously categorized as a higher level for which the inputs to the model became unobservable or assets and liabilities that were previously classified as Level 3 for which the lowest significant input became observable during the period. Bunge's policy regarding the timing of transfers between levels is to record the transfers at the beginning of the reporting period. | ||||||||||||||||||||||||||
        Level 3 Derivatives—Level 3 derivative instruments utilize both market observable and unobservable inputs within the fair value measurements. These inputs include commodity prices, price volatility, interest rates, volumes and locations. In addition, with the exception of the exchange cleared instruments, Bunge is exposed to loss in the event of the non-performance by counterparties on over-the-counter derivative instruments and forward purchase and sale contracts. Adjustments are made to fair values on occasions when non-performance risk is determined to represent a significant input in Bunge's fair value determination. These adjustments are based on Bunge's estimate of the potential loss in the event of counterparty non-performance. Bunge did not have significant adjustments related to non-performance by counterparties at December 31, 2013 and 2012. | ||||||||||||||||||||||||||
        Level 3 Readily marketable inventories and other—The significant unobservable inputs resulting in Level 3 classification for readily marketable inventories, physically settled forward purchase and sale contracts, and trade accounts receivable and payable, net, relate to certain management estimations regarding costs of transportation and other local market or location-related adjustments, primarily freight related adjustments in the interior of Brazil and the lack of market corroborated information in Canada. In both situations, Bunge uses proprietary information such as purchase and sale contracts and contracted prices for freight, premiums and discounts to value its contracts. Movements in the price of these unobservable inputs alone would not have a material effect on Bunge's financial statements as these contracts do not typically exceed one future crop cycle. | ||||||||||||||||||||||||||
        The tables below present reconciliations for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years ended December 31, 2013 and 2012. These instruments were valued using pricing models that management believes reflect the assumptions that would be used by a marketplace participant. | ||||||||||||||||||||||||||
Level 3 Instruments | ||||||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||||
(US$ in millions) | Derivatives, | Readily | Trade Accounts | Total | ||||||||||||||||||||||
Net(1) | Marketable | Receivable/ | ||||||||||||||||||||||||
Inventories | Payable, Net(2) | |||||||||||||||||||||||||
Balance, January 1, 2013 | $ | 66 | $ | 436 | $ | (40 | ) | $ | 462 | |||||||||||||||||
Total gains and losses (realized/unrealized) included in cost of goods sold | 49 | (182 | ) | — | (133 | ) | ||||||||||||||||||||
Purchases | (1 | ) | 1,845 | — | 1,844 | |||||||||||||||||||||
Sales | 1 | (2,245 | ) | 1 | (2,243 | ) | ||||||||||||||||||||
Issuances | (10 | ) | — | (115 | ) | (125 | ) | |||||||||||||||||||
Settlements | (228 | ) | — | 79 | (149 | ) | ||||||||||||||||||||
Transfers into Level 3 | 152 | 760 | — | 912 | ||||||||||||||||||||||
Transfers out of Level 3 | (9 | ) | (316 | ) | — | (325 | ) | |||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Balance, December 31, 2013 | $ | 20 | $ | 298 | $ | (75 | ) | $ | 243 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
-1 | ||||||||||||||||||||||||||
Derivatives, net, include Level 3 derivative assets and liabilities. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Trade Accounts Receivable and Trade Accounts Payable, net, include Level 3 inventory related receivables and payables. | ||||||||||||||||||||||||||
Level 3 Instruments | ||||||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||||
(US$ in millions) | Derivatives, | Readily | Trade Accounts | Total | ||||||||||||||||||||||
Net(1) | Marketable | Receivable/ | ||||||||||||||||||||||||
Inventories | Payable, Net(2) | |||||||||||||||||||||||||
Balance, January 1, 2012 | $ | (2 | ) | $ | 283 | $ | — | $ | 281 | |||||||||||||||||
Total gains and losses (realized/unrealized) included in cost of goods sold | 199 | (320 | ) | — | (121 | ) | ||||||||||||||||||||
Purchases | 3 | 1,659 | — | 1,662 | ||||||||||||||||||||||
Sales | 3 | (2,282 | ) | — | (2,279 | ) | ||||||||||||||||||||
Issuances | (4 | ) | — | (110 | ) | (114 | ) | |||||||||||||||||||
Settlements | (191 | ) | — | 70 | (121 | ) | ||||||||||||||||||||
Transfers into Level 3 | 16 | 1,418 | — | 1,434 | ||||||||||||||||||||||
Transfers out of Level 3 | 42 | (322 | ) | — | (280 | ) | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Balance, December 31, 2012 | $ | 66 | $ | 436 | $ | (40 | ) | $ | 462 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
-1 | ||||||||||||||||||||||||||
Derivatives, net include Level 3 derivative assets and liabilities. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Trade Accounts Receivable and Trade Accounts Payable, net, include Level 3 inventory related receivables and payables. | ||||||||||||||||||||||||||
        The table below summarizes changes in unrealized gains or (losses) recorded in earnings during the years ended December 31, 2013 and 2012 for Level 3 assets and liabilities that were held at December 31, 2013 and 2012: | ||||||||||||||||||||||||||
Level 3 Instruments | ||||||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||||
(US$ in millions) | Derivatives, | Readily | Trade Accounts | Total | ||||||||||||||||||||||
Net(1) | Marketable | Receivable and | ||||||||||||||||||||||||
Inventories | Payable, Net(2) | |||||||||||||||||||||||||
Changes in unrealized gains and (losses) relating to assets and liabilities held at December 31, 2013: | ||||||||||||||||||||||||||
Cost of goods sold | $ | 135 | $ | 101 | $ | (39 | ) | $ | 197 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Changes in unrealized gains and (losses) relating to assets and liabilities held at December 31, 2012: | ||||||||||||||||||||||||||
Cost of goods sold | $ | 59 | $ | 202 | $ | (18 | ) | $ | 243 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
-1 | ||||||||||||||||||||||||||
Derivatives, net include Level 3 derivative assets and liabilities. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Trade Accounts Receivable and Trade Accounts Payable, Net, include Level 3 inventory related receivables and payables. | ||||||||||||||||||||||||||
Derivative Instruments | ||||||||||||||||||||||||||
        Interest rate derivatives—Bunge recognized gains of approximately $20 million, $20 million and $13 million, respectively, as a reduction of interest expense in the consolidated statements of income, related to the amortization of deferred gains on termination of interest rate swap agreements previously designated as fair value hedges, for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||
        Foreign exchange derivatives—Bunge uses a combination of foreign exchange forward swap and option contracts in certain of its operations to mitigate the risk from exchange rate fluctuations in connection with certain commercial and balance sheet exposures. The foreign exchange forward swap and option contracts may be designated as cash flow hedges. Bunge may also use net investment hedges to partially offset the translation adjustments arising from the remeasurement of its investment in certain of its foreign subsidiaries. | ||||||||||||||||||||||||||
        The table below summarizes the notional amounts of open foreign exchange positions. | ||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Exchange | ||||||||||||||||||||||||||
Traded | Non-exchange | |||||||||||||||||||||||||
Net (Short)Â & | Traded | Unit of | ||||||||||||||||||||||||
(US$ in millions) | Long(1) | (Short)(2) | Long(2) | Measure | ||||||||||||||||||||||
Foreign Exchange | ||||||||||||||||||||||||||
Options | $ | (26 | ) | $ | (2 | ) | $ | 2 | Delta | |||||||||||||||||
Forwards | 3 | (15,951 | ) | 20,719 | Notional | |||||||||||||||||||||
Swaps | — | (129 | ) | 121 | Notional | |||||||||||||||||||||
-1 | ||||||||||||||||||||||||||
Exchange traded futures and options are presented on a net (short) and long position basis. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Non-exchange traded swaps, options and forwards are presented on a gross (short) and long position basis. | ||||||||||||||||||||||||||
        Commodity derivatives—Bunge uses derivative instruments to manage its exposure to movements associated with agricultural commodity prices. Bunge generally uses exchange traded futures and options contracts to minimize the effects of changes in the prices of agricultural commodities on its agricultural commodity inventories and forward purchase and sale contracts, but may also from time to time enter into OTC commodity transactions, including swaps, which are settled in cash at maturity or termination based on exchange-quoted futures prices. Forward purchase and sale contracts are primarily settled through delivery of agricultural commodities. While Bunge considers these exchange traded futures and forward purchase and sale contracts to be effective economic hedges, Bunge does not designate or account for the majority of its commodity contracts as hedges. The forward contracts require performance of both Bunge and the contract counterparty in future periods. Contracts to purchase agricultural commodities generally relate to current or future crop years for delivery periods quoted by regulated commodity exchanges. Contracts for the sale of agricultural commodities generally do not extend beyond one future crop cycle. | ||||||||||||||||||||||||||
        The table below summarizes the volumes of open agricultural commodities derivative positions. | ||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Exchange | ||||||||||||||||||||||||||
Traded | Non-exchange | |||||||||||||||||||||||||
Net (Short)Â & | Traded | Unit of | ||||||||||||||||||||||||
Long(1) | (Short)(2) | Long(2) | Measure | |||||||||||||||||||||||
Agricultural Commodities | ||||||||||||||||||||||||||
Futures | (7,517,109 | ) | — | — | Metric Tons | |||||||||||||||||||||
Options | (333,796 | ) | — | — | Metric Tons | |||||||||||||||||||||
Forwards | — | (33,142,299 | ) | 27,823,848 | Metric Tons | |||||||||||||||||||||
Swaps | — | (486,211 | ) | 39,735 | Metric Tons | |||||||||||||||||||||
-1 | ||||||||||||||||||||||||||
Exchange traded futures and options are presented on a net (short) and long position basis. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Non-exchange traded swaps, options and forwards are presented on a gross (short) and long position basis. | ||||||||||||||||||||||||||
        Ocean freight derivatives—Bunge uses derivative instruments referred to as freight forward agreements, or FFAs, and FFA options to hedge portions of its current and anticipated ocean freight costs. Changes in the fair values of ocean freight derivatives that are not designated as hedges are recorded in earnings. There were no designated hedges at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||
        The table below summarizes the open ocean freight positions. | ||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Exchange | ||||||||||||||||||||||||||
Cleared | Non-exchange | |||||||||||||||||||||||||
Net (Short)Â & | Cleared | Unit of | ||||||||||||||||||||||||
Long(1) | (Short)(2) | Long(2) | Measure | |||||||||||||||||||||||
Ocean Freight | ||||||||||||||||||||||||||
FFA | (7,660 | ) | — | — | Hire Days | |||||||||||||||||||||
FFA Options | (2,082 | ) | — | — | Hire Days | |||||||||||||||||||||
-1 | ||||||||||||||||||||||||||
Exchange cleared futures and options are presented on a net (short) and long position basis. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Non-exchange cleared options and forwards are presented on a gross (short) and long position basis. | ||||||||||||||||||||||||||
        Energy derivatives—Bunge uses derivative instruments for various purposes including to manage its exposure to volatility in energy costs. Bunge's operations use substantial amounts of energy, including natural gas, coal, and fuel oil, including bunker fuel. | ||||||||||||||||||||||||||
        The table below summarizes the open energy positions. | ||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Exchange Traded | ||||||||||||||||||||||||||
Non-exchange Cleared | ||||||||||||||||||||||||||
Net (Short)Â & | Unit of | |||||||||||||||||||||||||
Long(1) | (Short)(2) | Long(2) | Measure | |||||||||||||||||||||||
Natural Gas(3) | ||||||||||||||||||||||||||
Futures | 4,096,009 | — | — | MMBtus | ||||||||||||||||||||||
Swaps | — | — | 687,204 | MMBtus | ||||||||||||||||||||||
Options | (6,015,361 | ) | — | — | MMBtus | |||||||||||||||||||||
Energy—Other | ||||||||||||||||||||||||||
Futures | 2,417,741 | — | — | Metric Tons | ||||||||||||||||||||||
Forwards | — | (47,055 | ) | 38,239,063 | Metric Tons | |||||||||||||||||||||
Swaps | 275,000 | — | — | Metric Tons | ||||||||||||||||||||||
Options | (318 | ) | — | — | Metric Tons | |||||||||||||||||||||
-1 | ||||||||||||||||||||||||||
Exchange traded futures and options are presented on a net (short) and long position basis. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Non-exchange cleared swaps, options and forwards are presented on a gross (short) and long position basis. | ||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||
Million British Thermal Units (MMBtus) are the standard unit of measurement used to denote the amount of natural gas. | ||||||||||||||||||||||||||
The Effect of Derivative Instruments on the Consolidated Statements of Income | ||||||||||||||||||||||||||
        The table below summarizes the effect of derivative instruments that are undesignated on the consolidated statements of income for the years ended December 31, 2013 and 2012. | ||||||||||||||||||||||||||
Gain or (Loss) Recognized in Income on Derivative | ||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||
(US$ in millions) | Location | 2013 | 2012 | |||||||||||||||||||||||
Undesignated Derivative Contracts | ||||||||||||||||||||||||||
Interest Rate | Other income (expenses)—net | $ | (7 | ) | $ | 1 | ||||||||||||||||||||
Foreign Exchange | Foreign exchange gains (losses) | (229 | ) | (135 | ) | |||||||||||||||||||||
Foreign Exchange | Income (loss) from discontinued operations, net of tax | — | 8 | |||||||||||||||||||||||
Foreign Exchange | Cost of goods sold | (165 | ) | (7 | ) | |||||||||||||||||||||
Commodities | Cost of goods sold | 651 | (561 | ) | ||||||||||||||||||||||
Freight | Cost of goods sold | (20 | ) | (1 | ) | |||||||||||||||||||||
Energy | Cost of goods sold | — | (6 | ) | ||||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||||||
Total | $ | 230 | $ | (701 | ) | |||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||||||
        The tables below summarize the effect of derivative instruments that are designated and qualify as cash flow and net investment hedges in the consolidated statements of income. | ||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Gain or (Loss) Reclassified | Gain or (Loss) Recognized | |||||||||||||||||||||||||
from Accumulated OCI | in Income on Derivatives | |||||||||||||||||||||||||
Notional | Gain or (Loss) | into Income(1) | ||||||||||||||||||||||||
Amount | Recognized in | |||||||||||||||||||||||||
(US$ in millions) | Accumulated OCI(1) | Location | Amount | Location | Amount(2) | |||||||||||||||||||||
Cash Flow Hedge: | ||||||||||||||||||||||||||
Foreign Exchange(3) | $ | 344 | $ | (22 | ) | Foreign exchange gains (losses) | $ | (12 | ) | Foreign exchange gains (losses) | $ | — | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
Total | $ | 344 | $ | (22 | ) | $ | (12 | ) | $ | — | ||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
Net Investment Hedge(3): | ||||||||||||||||||||||||||
Foreign Exchange | $ | 560 | $ | 22 | Foreign exchange gains (losses) | $ | — | Foreign exchange gains (losses) | $ | — | ||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
Total | $ | 560 | $ | 22 | $ | — | $ | — | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
-1 | ||||||||||||||||||||||||||
The gain (loss) recognized relates to the effective portion of the hedging relationship. At December 31, 2013, Bunge expects to reclassify into income in the next 12 months $(22) million and zero after-tax gain (loss) related to its foreign exchange cash flow and net investment hedges respectively. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
There was no gain or loss recognized in income relating to the ineffective portion of the hedging relationships or relating to amounts excluded from the assessment of hedge effectiveness. | ||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||
The foreign exchange contracts mature at various dates in 2014. | ||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||
Gain or (Loss) Reclassified | Gain or (Loss) Recognized | |||||||||||||||||||||||||
Gain or (Loss) | from Accumulated OCI into | in Income on Derivatives | ||||||||||||||||||||||||
Recognized in | Income(1) | |||||||||||||||||||||||||
Notional | Accumulated | |||||||||||||||||||||||||
(US$ in millions) | Amount | OCI(1) | Location | Amount | Location | Amount(2) | ||||||||||||||||||||
Cash Flow Hedge: | ||||||||||||||||||||||||||
Foreign Exchange(3) | $ | 190 | $ | 5 | Foreign exchange | Foreign exchange | ||||||||||||||||||||
gains (losses) | $ | (6 | ) | gains (losses) | $ | — | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
Total | $ | 190 | $ | 5 | $ | (6 | ) | $ | — | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
-1 | ||||||||||||||||||||||||||
The gain or (loss) recognized relates to the effective portion of the hedging relationship. At December 31, 2012, Bunge expected to reclassify into income in the next 12 months $5 million after-tax losses related to its foreign exchange cash flow hedges. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
There was no gain or loss recognized in income relating to the ineffective portion of the hedging relationships or relating to amounts excluded from the assessment of hedge effectiveness. | ||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||
The foreign exchange forward contracts mature at various dates in 2013. | ||||||||||||||||||||||||||
ShortTerm_Debt_and_Credit_Faci
Short-Term Debt and Credit Facilities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Short-Term Debt and Credit Facilities | ' | |||||||
Short-Term Debt and Credit Facilities | ' | |||||||
16. Short-Term Debt and Credit Facilities | ||||||||
        Bunge's short-term borrowings are typically sourced from various banking institutions and the U.S. commercial paper market. Bunge also borrows from time to time in local currencies in various foreign jurisdictions. Interest expense includes facility commitment fees, amortization of deferred financing costs and charges on certain lending transactions, including certain intercompany loans and foreign currency conversions in Brazil. The weighted-average interest rate on short-term borrowings at December 31, 2013 and 2012 was 6.99% and 6.59%, respectively. | ||||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Lines of credit: | ||||||||
Unsecured, variable interest rates from 0.37% to 30.00%(1) | $ | 703 | $ | 1,598 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total short-term debt | $ | 703 | $ | 1,598 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||
Includes $285 million of local currency borrowings in certain Eastern European, South American and Asian countries at a weighted-average interest rate of 14.91% as of December 31, 2013 and $378 million at a weighted-average interest rate of 18.78% as of December 31, 2012. | ||||||||
        Bunge's commercial paper program is supported by an identical amount of committed back-up bank credit lines (the Liquidity Facility) provided by banks that are rated at least A-1 by Standard & Poor's Financial Services and P-1 by Moody's Investors Service. In January 2013, Bunge agreed with the Liquidity Facility banks for the amount of aggregate commitments under the Liquidity Facility to be increased from $526 million to $600 million, and simultaneously increased the size of its commercial paper program to $600 million. The Liquidity Facility, which matures in November 2016, permits Bunge, at its option, to set up direct borrowings or issue commercial paper. The cost of borrowing under the Liquidity Facility would typically be higher than the cost of borrowing under Bunge's commercial paper program. At December 31, 2013, there was $100 million outstanding under the commercial paper program and no borrowings under the Liquidity Facility. At December 31, 2012, there were no borrowings outstanding under the commercial paper program and the Liquidity Facility. | ||||||||
        In addition to the committed facilities discussed above, from time-to-time, Bunge enters into bilateral short-term credit lines as necessary based on its financing requirements. At December 31, 2013, $120 million was outstanding under these bilateral short-term credit lines. In addition, Bunge's operating companies had $395 million in short-term borrowings outstanding from local bank lines of credit at December 31, 2013 to support working capital requirements. | ||||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Long-Term Debt. | ' | |||||||||||||||||||
Long-Term Debt | ' | |||||||||||||||||||
17. Long-Term Debt | ||||||||||||||||||||
        Long-term debt obligations are summarized below. | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | ||||||||||||||||||
Revolving credit facilities(1) | $ | 400 | $ | — | ||||||||||||||||
Term loan due 2013—fixed interest rate of 3.32% (Tranche A) | — | 300 | ||||||||||||||||||
Term loan due 2013—variable interest rate of LIBOR plus 1.38% (Tranche B) | — | 100 | ||||||||||||||||||
5.875% Senior Notes due 2013 | — | 300 | ||||||||||||||||||
5.35% Senior Notes due 2014 | 500 | 500 | ||||||||||||||||||
5.10% Senior Notes due 2015 | 382 | 382 | ||||||||||||||||||
4.10% Senior Notes due 2016 | 500 | 500 | ||||||||||||||||||
3.20% Senior Notes due 2017 | 600 | 600 | ||||||||||||||||||
5.90% Senior Notes due 2017 | 250 | 250 | ||||||||||||||||||
8.50% Senior Notes due 2019 | 600 | 600 | ||||||||||||||||||
BNDES loans, variable interest rate indexed to TJLP plus 3.20% payable through 2016(2)(3) | 27 | 42 | ||||||||||||||||||
Other | 348 | 323 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Subtotal | 3,607 | 3,897 | ||||||||||||||||||
Less: Current portion of long-term debt | (762 | ) | (719 | ) | ||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Total long-term debt excluding investment fund debt | 2,845 | 3,178 | ||||||||||||||||||
Consolidated non-recourse investment fund debt(4) | 334 | 354 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Total long-term debt | $ | 3,179 | $ | 3,532 | ||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
-1 | ||||||||||||||||||||
In June and November of 2013, we entered into unsecured bilateral three-year revolving credit agreements totaling $700Â million with certain lenders, maturing in 2016. | ||||||||||||||||||||
-2 | ||||||||||||||||||||
Industrial development loans provided by BNDES, an agency of the Brazilian government. | ||||||||||||||||||||
-3 | ||||||||||||||||||||
TJLP is a long-term interest rate published by the BNDES on a quarterly basis; TJLP was 5.00% per annum at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||
-4 | ||||||||||||||||||||
Consolidated investment fund debt matures at various dates through 2019 with no recourse to Bunge. Bunge elected to account for $257 million and $259 million at fair value as of December 31, 2013 and 2012, respectively, and the remaining is accounted for at amortized cost. | ||||||||||||||||||||
        The fair values of long-term debt, including current portion, at December 31, 2013 and 2012 were $4,174 million and $4,581 million, respectively, calculated based on interest rates currently available on comparable maturities to companies with credit standing similar to that of Bunge. The carrying amounts and fair values of long-term debt are as follows: | ||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
(US$ in millions) | Carrying | Fair Value | Fair Value | Carrying | Fair Value | Fair Value | ||||||||||||||
Value | (Level 2) | (Level 3) | Value | (Level 2) | (Level 3) | |||||||||||||||
Long-term debt including current portion | $ | 3,941 | $ | 3,917 | $ | 257 | $ | 4,251 | $ | 4,322 | $ | 259 | ||||||||
        On May 30, 2013, we entered into an unsecured $665 million five-year syndicated revolving credit agreement with CoBank, ACB, as administrative agent and certain lenders party thereto. Under the terms of the agreement, the Lenders initially made available up to $368 million of loans, which has been increased to $665 million in December 2013 concurrent with the scheduled repayment in full of our obligations under an existing term loan facility under which $300 million of principal amount was outstanding. Borrowings under the revolving credit agreement will bear interest at LIBOR plus a margin, which will vary between 1.050% and 1.675% per annum, based on the credit ratings of our long-term senior unsecured debt. Amounts under the revolving credit agreement that remain undrawn are subject to a commitment fee at rates ranging from 0.125% to 0.275% per annum based likewise on the ratings of our long-term senior unsecured debt. There were no borrowings outstanding under this credit agreement at December 31, 2013. | ||||||||||||||||||||
        On June 24, 2013, we entered into an unsecured $200 million three-year revolving credit agreement with a certain lender. Borrowings under the credit agreement bear interest at LIBOR plus a margin ranging from 0.90% to 1.55%, based on the credit ratings of our long-term senior unsecured debt. Amounts under the credit agreement that remain undrawn are subject to a commitment fee at a rate of 0.25%. There was $200 million outstanding under this credit agreement at December 31, 2013. | ||||||||||||||||||||
        In November 2013 we entered into five unsecured $100 million bilateral three-year revolving credit agreements with certain lenders. Borrowings under the credit agreement bear interest at LIBOR plus a margin ranging from 0.90% to 1.55%, based on the credit ratings of our long-term senior unsecured debt. Amounts under the credit agreement that remain undrawn are subject to a commitment fee at a rate of 0.25%. There was $200 million outstanding under these credit agreements at December 31, 2013. | ||||||||||||||||||||
        At December 31, 2013, Bunge had approximately $3,800 million of unused and available borrowing capacity under its committed long-term credit facilities with a number of lending institutions. | ||||||||||||||||||||
        Certain land, property, equipment and investments in consolidated subsidiaries having a net carrying value of approximately $242 million at December 31, 2013 have been mortgaged or otherwise collateralized against long-term debt of $198 million at December 31, 2013. | ||||||||||||||||||||
        Principal Maturities—Principal maturities of long-term debt at December 31, 2013 are as follows: | ||||||||||||||||||||
(US$ in millions) | ||||||||||||||||||||
2014 | $ | 760 | ||||||||||||||||||
2015 | 523 | |||||||||||||||||||
2016 | 921 | |||||||||||||||||||
2017 | 859 | |||||||||||||||||||
2018 | 11 | |||||||||||||||||||
Thereafter | 842 | |||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ||||||||||||||||
Total(1) | $ | 3,916 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ||||||||||||||||
​ | ​ | ​ | ​ | ​ | ||||||||||||||||
-1 | ||||||||||||||||||||
Excludes unamortized net gains of $25Â million related to terminated interest rate swap agreements recorded in long-term portion of debt. | ||||||||||||||||||||
        Bunge's credit facilities and certain senior notes require it to comply with specified financial covenants related to minimum net worth, minimum current ratio, a maximum debt to capitalization ratio and limitations on secured indebtedness. Bunge was in compliance with these covenants at December 31, 2013. | ||||||||||||||||||||
        During the years ended December 31, 2013, 2012 and 2011, Bunge paid interest, net of interest capitalized, of $330 million, $259 million and $208 million, respectively. | ||||||||||||||||||||
Trade_Receivables_Securitizati
Trade Receivables Securitization Program | 12 Months Ended |
Dec. 31, 2013 | |
Trade Receivables Securitization Program | ' |
Trade Receivables Securitization Program | ' |
18. Trade Receivables Securitization Program | |
        Bunge and certain of its subsidiaries participate in a trade receivables securitization program (the Program) with a financial institution, as administrative agent, and certain commercial paper conduit purchasers and committed purchasers (collectively, the Purchasers) that provides for funding up to $700 million against receivables sold into the program. The securitization program is designed to enhance Bunge's financial flexibility by providing an additional source of liquidity for its operations. In connection with the securitization program, certain of Bunge's U.S. and non-U.S. subsidiaries that originate trade receivables may sell eligible receivables in their entirety on a revolving basis to a consolidated bankruptcy remote special purpose entity, Bunge Securitization B.V. (BSBV) formed under the laws of The Netherlands. BSBV in turn sells such purchased trade receivables to the administrative agent (acting on behalf of the Purchasers) pursuant to a receivables transfer agreement. In connection with these sales of accounts receivable, Bunge receives a portion of the proceeds up front and an additional amount upon the collection of the underlying receivables (DPP), which is expected to be generally between 10% and 15% of the aggregate amount of receivables sold through the program. | |
        Bunge Finance B.V. (BFBV), a wholly-owned subsidiary of Bunge, acts as master servicer, responsible for servicing and collecting the accounts receivable for the securitization program. The securitization program terminates on June 1, 2016. However, each committed purchaser's commitment to fund trade receivables sold under the securitization program will terminate on May 28, 2014 unless extended for additional 364-day periods in accordance with the terms of the receivables transfer agreement. The trade receivables sold under the securitization program are subject to specified eligibility criteria, including eligible currencies, country and obligor concentration limits. At December 31, 2013, BFBV had a repurchase obligation with the administrative agent of $54 million. No obligation existed at December 31, 2012. | |
        At December 31, 2013 and 2012, $696 million and $772 million, respectively, of receivables sold under the Program were derecognized from Bunge's consolidated balance sheets. Proceeds received in cash related to transfers of receivables under the program totaled $12,596 million and $13,823 million for the years ended December 31, 2013 and 2012, respectively. In addition, cash collections from customers on receivables previously sold were $12,769 million and $14,031 million for the years ended December 31, 2013 and 2012, respectively. As this is a revolving facility, cash collections from customers are reinvested to fund new receivable sales. Gross receivables sold under the program for the years ended December 31, 2013 and 2012 were $12,779 million and $14,054 million, respectively. These sales resulted in discounts of $7 million and $8 million for the years ended December 31, 2013 and 2012, respectively, and $5 million for the period from inception of the program through December 31, 2011, which were included in SG&A in the consolidated statements of income. Servicing fees under the program were not significant in any period. | |
        Bunge's risk of loss following the sale of the accounts receivable is limited to the DPP, which at December 31, 2013 and 2012 had a fair value of $96 million and $134 million, respectively, and is included in other current assets in the consolidated balance sheets (see Note 6). The DPP will be repaid in cash as receivables are collected, generally within 30 days. Delinquencies and credit losses on accounts receivable sold under the program during the year ended December 31, 2013 and 2012 were insignificant. Bunge has reflected all cash flows under the securitization program as operating cash flows in the consolidated statements of cash flows for the years ended December 31, 2013 and 2012 and the period from inception of the program through December 31, 2011, including collections on DPP of $1,465 million, $1,661 million, and $814 million, respectively. | |
Pension_Plans
Pension Plans (Pension Plans) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Pension Plans | ' | |||||||||||||||||||||||||
Defined Benefit Plans | ' | |||||||||||||||||||||||||
Pension Plans | ' | |||||||||||||||||||||||||
19. Pension Plans | ||||||||||||||||||||||||||
        Employee Defined Benefit Plans—Certain U.S., Canadian, European and Brazilian based subsidiaries of Bunge sponsor non-contributory defined benefit pension plans covering substantially all employees of the subsidiaries. The plans provide benefits based primarily on participants' salary and length of service. | ||||||||||||||||||||||||||
        The funding policies for Bunge's defined benefit pension plans are determined in accordance with statutory funding requirements. The most significant defined benefit plan is in the United States. The U.S. funding policy requires at least those amounts required by the Pension Protection Act of 2006. Assets of the plans consist primarily of equity and fixed income investments. | ||||||||||||||||||||||||||
        Plan Amendments and Transfers In and Out—There were no significant amendments, settlements or transfers into or out of Bunge's employee benefit plans during the years ended December 31, 2013 or 2012. | ||||||||||||||||||||||||||
        The following table sets forth in aggregate the changes in the U.S. and foreign defined benefit pension plans' benefit obligations, assets and funded status at December 31, 2013 and 2012. A measurement date of December 31 was used for all plans. | ||||||||||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||||||||
Pension | Pension | |||||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Change in benefit obligations: | ||||||||||||||||||||||||||
Benefit obligation at the beginning of year | $ | 607 | $ | 513 | $ | 163 | $ | 143 | ||||||||||||||||||
Plan amendments | — | 2 | — | — | ||||||||||||||||||||||
Service cost | 21 | 18 | 9 | 8 | ||||||||||||||||||||||
Interest cost | 25 | 25 | 5 | 6 | ||||||||||||||||||||||
Plan curtailments | (2 | ) | — | — | — | |||||||||||||||||||||
Actuarial (gain) loss, net | (65 | ) | 70 | (5 | ) | 15 | ||||||||||||||||||||
Employee contributions | — | — | 3 | 3 | ||||||||||||||||||||||
Net transfers in (out) | — | — | 4 | — | ||||||||||||||||||||||
Plan settlements | 3 | (3 | ) | (9 | ) | (14 | ) | |||||||||||||||||||
Effect of plan combinations | — | — | 6 | — | ||||||||||||||||||||||
Benefits paid | (19 | ) | (17 | ) | 3 | (1 | ) | |||||||||||||||||||
Expenses paid | (1 | ) | (1 | ) | (2 | ) | — | |||||||||||||||||||
Impact of foreign exchange rates | — | — | (1 | ) | 3 | |||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Benefit obligation at the end of year | $ | 569 | $ | 607 | $ | 176 | $ | 163 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||
Fair value of plan assets at the beginning of year | $ | 396 | $ | 355 | $ | 131 | $ | 124 | ||||||||||||||||||
Actual return on plan assets | 53 | 48 | 8 | 7 | ||||||||||||||||||||||
Employer contributions | 25 | 14 | 16 | 10 | ||||||||||||||||||||||
Employee contributions | — | — | 3 | 3 | ||||||||||||||||||||||
Plan settlements | — | (3 | ) | (9 | ) | (14 | ) | |||||||||||||||||||
Effect of plan combinations | — | — | 5 | — | ||||||||||||||||||||||
Divestitures | — | — | — | — | ||||||||||||||||||||||
Benefits paid | (19 | ) | (17 | ) | 3 | (1 | ) | |||||||||||||||||||
Expenses paid | (1 | ) | (1 | ) | — | — | ||||||||||||||||||||
Impact of foreign exchange rates | — | — | (4 | ) | 2 | |||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Fair value of plan assets at the end of year | $ | 454 | $ | 396 | $ | 153 | $ | 131 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Funded (unfunded) status and net amounts recognized: | ||||||||||||||||||||||||||
Plan assets (less than) in excess of benefit obligation | $ | (115 | ) | $ | (211 | ) | $ | (23 | ) | $ | (32 | ) | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Net (liability) asset recognized in the balance sheet | $ | (115 | ) | $ | (211 | ) | $ | (23 | ) | $ | (32 | ) | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Amounts recognized in the balance sheet consist of: | ||||||||||||||||||||||||||
Non-current assets | $ | 7 | $ | — | $ | 12 | $ | 4 | ||||||||||||||||||
Current liabilities | (3 | ) | (1 | ) | (2 | ) | (2 | ) | ||||||||||||||||||
Non-current liabilities | (119 | ) | (210 | ) | (33 | ) | (34 | ) | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Net liability recognized | $ | (115 | ) | $ | (211 | ) | $ | (23 | ) | $ | (32 | ) | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
        Included in accumulated other comprehensive income at December 31, 2013 are the following amounts that have not yet been recognized in net periodic benefit costs: unrecognized initial net asset of $1 million (zero, net of tax), unrecognized prior service cost of $5 million ($3 million, net of tax) and unrecognized actuarial loss of $102 million ($66 million, net of tax). The prior service cost included in accumulated other comprehensive income that is expected to be recognized in net periodic benefit costs in 2014 is $1 million ($1 million, net of tax) and unrecognized actuarial loss of $4 million ($3 million, net of tax). | ||||||||||||||||||||||||||
        Bunge has aggregated certain U.S. and foreign defined benefit pension plans with projected benefit obligations in excess of fair value of plan assets with pension plans that have fair value of plan assets in excess of projected benefit obligations. At December 31, 2013, the $569 million and $176 million projected benefit obligations for U.S. and foreign plans, respectively, include plans with projected benefit obligations of $498 million and $121 million, which were in excess of the fair value of related plan assets of $375 million and $85 million. At December 31, 2012, the $607 million and $163 million projected benefit obligations for U.S. and foreign plans, respectively, include plans with projected benefit obligations of $607 million and $116 million, which were in excess of the fair value of related plan assets of $396 million and $80 million. The accumulated benefit obligation for the U.S. and foreign defined benefit pension plans, respectively, was $521 million and $165 million at December 31, 2013 and $548 million and $153 million at December 31, 2012. | ||||||||||||||||||||||||||
        The following table summarizes information relating to aggregated U.S. and foreign defined benefit pension plans with an accumulated benefit obligation in excess of plan assets: | ||||||||||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||||||||
Pension | Pension | |||||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Projected benefit obligation | $ | 498 | $ | 607 | $ | 38 | $ | 54 | ||||||||||||||||||
Accumulated benefit obligation | $ | 449 | $ | 548 | $ | 36 | $ | 52 | ||||||||||||||||||
Fair value of plan assets | $ | 375 | $ | 396 | $ | 5 | $ | 21 | ||||||||||||||||||
        The components of net periodic benefit costs are as follows for U.S. and foreign defined benefit pension plans: | ||||||||||||||||||||||||||
U.S. Pension | Foreign Pension | |||||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||
Service cost | $ | 21 | $ | 18 | $ | 15 | $ | 9 | $ | 8 | $ | 7 | ||||||||||||||
Interest cost | 25 | 25 | 25 | 5 | 6 | 6 | ||||||||||||||||||||
Expected return on plan assets | (30 | ) | (26 | ) | (26 | ) | (5 | ) | (6 | ) | (6 | ) | ||||||||||||||
Amortization of prior service cost | 1 | 2 | 2 | — | — | — | ||||||||||||||||||||
Amortization of net loss | 16 | 13 | 5 | 3 | 1 | 1 | ||||||||||||||||||||
Curtailment loss | — | — | — | 1 | — | — | ||||||||||||||||||||
Settlement loss recognized | — | — | — | — | 1 | — | ||||||||||||||||||||
Special termination benefit | 3 | — | — | — | — | — | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Net periodic benefit costs | $ | 36 | $ | 32 | $ | 21 | $ | 13 | $ | 10 | $ | 8 | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
        The weighted-average actuarial assumptions used in determining the benefit obligation under the U.S. and foreign defined benefit pension plans are as follows: | ||||||||||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||||||||
Pension | Pension | |||||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Discount rate | 5.2 | % | 4.2 | % | 3.6 | % | 3.3 | % | ||||||||||||||||||
Increase in future compensation levels | 3.8 | % | 3.8 | % | 2.7 | % | 3 | % | ||||||||||||||||||
        The weighted-average actuarial assumptions used in determining the net periodic benefit cost under the U.S. and foreign defined benefit pension plans are as follows: | ||||||||||||||||||||||||||
U.S. Pension | Foreign Pension | |||||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||
Discount rate | 4.2 | % | 5 | % | 6 | % | 3.3 | % | 4.2 | % | 4.4 | % | ||||||||||||||
Expected long-term rate of return on assets | 7.5 | % | 7.5 | % | 8 | % | 4 | % | 4.6 | % | 5.3 | % | ||||||||||||||
Increase in future compensation levels | 3.8 | % | 3.8 | % | 4.2 | % | 3 | % | 2.7 | % | 2.4 | % | ||||||||||||||
        The sponsoring subsidiaries select the expected long-term rate of return on assets in consultation with their investment advisors and actuaries. These rates are intended to reflect the average rates of earnings expected on the funds invested or to be invested to provide required plan benefits. The plans are assumed to continue in effect as long as assets are expected to be invested. | ||||||||||||||||||||||||||
        In estimating the expected long-term rate of return on assets, appropriate consideration is given to historical performance for the major asset classes held or anticipated to be held by the applicable plan trusts and to current forecasts of future rates of return for those asset classes. Cash flows and expenses are taken into consideration to the extent that the expected returns would be affected by them. As assets are generally held in qualified trusts, anticipated returns are not reduced for taxes. | ||||||||||||||||||||||||||
        Plan Assets—The objectives of the U.S. plans' trust funds are to sufficiently diversify plan assets to maintain a reasonable level of risk without imprudently sacrificing returns, with a target asset allocation of approximately 40% fixed income securities and approximately 60% equities. Bunge implements its investment strategy through a combination of indexed mutual funds and a proprietary portfolio of fixed income securities. Bunge's policy is not to invest plan assets in Bunge Limited shares. | ||||||||||||||||||||||||||
        Plan investments are stated at fair value which is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plan classifies its investments in Level 1, which refers to securities that are actively traded on a public exchange and valued using quoted prices from active markets for identical assets, Level 2, which refers to securities not traded in an active market but for which observable market inputs are readily available and Level 3, which refers to other assets valued based on significant unobservable inputs. | ||||||||||||||||||||||||||
        The fair values of Bunge's U.S. and foreign defined benefit pension plans' assets at the measurement date, by category, are as follows: | ||||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 | ||||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | |||||||||||||||||||||||
in Active | Observable | Unobservable | ||||||||||||||||||||||||
Markets for | Inputs (Level 2) | Inputs (Level 3) | ||||||||||||||||||||||||
Identical | ||||||||||||||||||||||||||
Assets (Level 1) | ||||||||||||||||||||||||||
(US$ in millions) | U.S. | Foreign | U.S. | Foreign | U.S. | Foreign | U.S. | Foreign | ||||||||||||||||||
Asset Category | Pension | Pension | Pension | Pension | Pension | Pension | Pension | Pension | ||||||||||||||||||
Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | |||||||||||||||||||
Cash | $ | 2 | $ | 9 | $ | 2 | $ | 9 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Equities: | ||||||||||||||||||||||||||
Mutual Funds(1) | 297 | 58 | 297 | 1 | — | 57 | — | — | ||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||
Mutual Funds(2) | 155 | 80 | 77 | 5 | 78 | 75 | — | — | ||||||||||||||||||
Others(3) | — | 6 | — | — | — | 6 | — | — | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 454 | $ | 153 | $ | 376 | $ | 15 | $ | 78 | $ | 138 | $ | — | $ | — | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Fair Value Measurements at December 31, 2012 | ||||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | |||||||||||||||||||||||
in Active | Observable | Unobservable | ||||||||||||||||||||||||
Markets for | Inputs (Level 2) | Inputs (Level 3) | ||||||||||||||||||||||||
Identical | ||||||||||||||||||||||||||
Assets (Level 1) | ||||||||||||||||||||||||||
(US$ in millions) | U.S. | Foreign | U.S. | Foreign | U.S. | Foreign | U.S. | Foreign | ||||||||||||||||||
Asset Category | Pension | Pension | Pension | Pension | Pension | Pension | Pension | Pension | ||||||||||||||||||
Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | |||||||||||||||||||
Cash | $ | 2 | $ | — | $ | 2 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Equities: | ||||||||||||||||||||||||||
Mutual Funds(1) | 251 | 19 | 251 | — | — | 19 | — | — | ||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||
Mutual Funds(2) | 143 | 106 | 72 | 7 | 71 | 99 | — | — | ||||||||||||||||||
Others(3) | — | 6 | — | — | — | 6 | — | — | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 396 | $ | 131 | $ | 325 | $ | 7 | $ | 71 | $ | 124 | $ | — | $ | — | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||||||||||||||||||||
This category represents a portfolio of equity investments comprised of equity index funds that invest in U.S. equities and non-U.S. equities. The U.S. equities are comprised of investments focusing on large, mid and small cap companies and non-U.S. equities are comprised of international, emerging markets and real estate investment trusts. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
This category represents a portfolio of fixed income investments in mutual funds comprised of investment grade U.S. government bonds and notes, foreign government bonds and corporate bonds from diverse industries. | ||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||
This category represents a portfolio consisting of a mixture of equity, fixed income and cash. | ||||||||||||||||||||||||||
        Bunge expects to contribute $3 million and $13 million, respectively, to its U.S. and foreign-based defined benefit pension plans in 2014. | ||||||||||||||||||||||||||
        The following benefit payments, which reflect future service as appropriate, are expected to be paid related to U.S. and foreign defined benefit pension plans: | ||||||||||||||||||||||||||
(US$ in millions) | U.S. Pension | Foreign Pension | ||||||||||||||||||||||||
Benefit Payments | Benefit Payments | |||||||||||||||||||||||||
2014 | $ | 24 | $ | 9 | ||||||||||||||||||||||
2015 | 26 | 8 | ||||||||||||||||||||||||
2016 | 28 | 8 | ||||||||||||||||||||||||
2017 | 31 | 8 | ||||||||||||||||||||||||
2018 | 33 | 8 | ||||||||||||||||||||||||
2019-2023 | 193 | 43 | ||||||||||||||||||||||||
        Employee Defined Contribution Plans—Bunge also makes contributions to qualified defined contribution plans for eligible employees. Contributions to these plans amounted to $12 million, $14 million and $14 million during the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||
Postretirement_Healthcare_Bene
Postretirement Healthcare Benefit Plans (Postretirement Healthcare Benefit Plans) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Postretirement Healthcare Benefit Plans | ' | |||||||||||||||||||
Defined Benefit Plans | ' | |||||||||||||||||||
Postretirement Healthcare Benefit Plans | ' | |||||||||||||||||||
20. Postretirement Healthcare Benefit Plans | ||||||||||||||||||||
        Certain U.S. and Brazil based subsidiaries of Bunge have benefit plans to provide certain postretirement healthcare benefits to eligible retired employees of those subsidiaries. The plans require minimum retiree contributions and define the maximum amount the subsidiaries will be obligated to pay under the plans. Bunge's policy is to fund these costs as they become payable. | ||||||||||||||||||||
        The following table sets forth a reconciliation of the changes in the postretirement healthcare benefit plans' benefit obligations and funded status at December 31, 2013 and 2012. A measurement date of December 31 was used for all plans. | ||||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||
Postretirement | Postretirement | |||||||||||||||||||
Healthcare | Healthcare | |||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Change in benefit obligations: | ||||||||||||||||||||
Benefit obligation at the beginning of year | $ | 16 | $ | 17 | $ | 80 | $ | 97 | ||||||||||||
Plan amendments | — | — | — | (3 | ) | |||||||||||||||
Plan curtailments | — | — | (2 | ) | — | |||||||||||||||
Service cost | — | — | — | 1 | ||||||||||||||||
Interest cost | 1 | 1 | 6 | 9 | ||||||||||||||||
Actuarial (gain) loss, net | (1 | ) | — | (15 | ) | (2 | ) | |||||||||||||
Employee contributions | 1 | 1 | — | — | ||||||||||||||||
Plan settlements/divestitures | — | — | — | (6 | ) | |||||||||||||||
Benefits paid | (2 | ) | (3 | ) | (6 | ) | (9 | ) | ||||||||||||
Impact of foreign exchange rates | (1 | ) | — | (9 | ) | (7 | ) | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Benefit obligation at the end of year | $ | 14 | $ | 16 | $ | 54 | $ | 80 | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Change in plan assets: | ||||||||||||||||||||
Employer contributions | $ | 1 | $ | 2 | $ | 6 | $ | 9 | ||||||||||||
Employee contributions | 1 | 1 | — | — | ||||||||||||||||
Benefits paid | (2 | ) | (3 | ) | (6 | ) | (9 | ) | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Fair value of plan assets at the end of year | $ | — | $ | — | $ | — | $ | — | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Funded status and net amounts recognized: | ||||||||||||||||||||
Plan assets (less than) of benefit obligation | $ | (14 | ) | $ | (16 | ) | $ | (54 | ) | $ | (80 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Net (liability) recognized in the balance sheet | $ | (14 | ) | $ | (16 | ) | $ | (54 | ) | $ | (80 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Amounts recognized in the balance sheet consist of: | ||||||||||||||||||||
Current liabilities | $ | (1 | ) | $ | (2 | ) | $ | (5 | ) | $ | (3 | ) | ||||||||
Non-current liabilities | (13 | ) | (14 | ) | (49 | ) | (77 | ) | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Net liability recognized | $ | (14 | ) | $ | (16 | ) | $ | (54 | ) | $ | (80 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
        Included in accumulated other comprehensive income at December 31, 2013 are the following amounts for U.S. and foreign postretirement healthcare benefit plans that have not yet been recognized in net periodic benefit costs: unrecognized prior service credit of $1 million (zero, net of tax) and zero (zero, net of tax), respectively, and unrecognized actuarial gain (loss) of $5 million ($3 million, net of tax) and $9 million ($6 million, net of tax), respectively. Bunge does not expect to recognize any unrecognized prior service credits or unrecognized actuarial losses as components of net periodic benefit costs for its postretirement healthcare benefit plans in 2014. | ||||||||||||||||||||
        The components of net periodic benefit costs for U.S. and foreign postretirement healthcare benefit plans are as follows: | ||||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||
Postretirement | Postretirement | |||||||||||||||||||
Healthcare Benefits | Healthcare Benefits | |||||||||||||||||||
Year Ended | Year Ended | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||
Service cost | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||
Interest cost | 1 | 1 | 1 | 6 | 9 | 10 | ||||||||||||||
Amortization of prior service cost | — | — | — | — | (7 | ) | (1 | ) | ||||||||||||
Amortization of net (gain) loss | (1 | ) | — | — | 1 | 8 | 1 | |||||||||||||
Curtailment gain | — | — | — | (2 | ) | — | — | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net periodic benefit costs | $ | — | $ | 1 | $ | 1 | $ | 5 | $ | 11 | $ | 11 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
        The weighted-average discount rates used in determining the actuarial present value of the accumulated benefit obligations under the U.S. and foreign postretirement healthcare benefit plans are as follows: | ||||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||
Postretirement | Postretirement | |||||||||||||||||||
Healthcare | Healthcare | |||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Discount rate | 4.7 | % | 3.8 | % | 11.4 | % | 8.8 | % | ||||||||||||
        The weighted-average discount rate assumptions used in determining the net periodic benefit costs under the U.S. and foreign postretirement healthcare benefit plans are as follows: | ||||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||
Postretirement | Postretirement | |||||||||||||||||||
Healthcare Benefits | Healthcare Benefits | |||||||||||||||||||
Year Ended | Year Ended | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||
Discount rate | 3.8 | % | 4.8 | % | 5.3 | % | 8.8 | % | 10.3 | % | 10.8 | % | ||||||||
        At December 31, 2013, for measurement purposes related to U.S. plans, a 9.0% annual rate of increase in the per capita cost of covered healthcare benefits was assumed for 2014, decreasing to 4.5% by 2029, remaining at that level thereafter. At December 31, 2012, for measurement purposes related to U.S. plans, a 9.7% annual rate of increase in the per capita cost of covered healthcare benefits was assumed for 2013. For foreign plans, the assumed annual rate of increase in the per capita cost of covered healthcare benefits averaged 7.74% and 7.74% for 2013 and 2012, respectively. | ||||||||||||||||||||
        A one-percentage point change in assumed healthcare cost trend rates would have the following effects: | ||||||||||||||||||||
(US$ in millions) | One-percentage | One-percentage | ||||||||||||||||||
point increase | point decrease | |||||||||||||||||||
Effect on total service and interest cost—U.S. plans | $ | — | $ | — | ||||||||||||||||
Effect on total service and interest cost—Foreign plans | $ | 1 | $ | (1 | ) | |||||||||||||||
Effect on postretirement benefit obligation—U.S. plans | $ | 1 | $ | (1 | ) | |||||||||||||||
Effect on postretirement benefit obligation—Foreign plans | $ | 5 | $ | (4 | ) | |||||||||||||||
        Bunge expects to contribute $2 million to its U.S. postretirement healthcare benefit plan and $5 million to its foreign postretirement healthcare benefit plans in 2014. | ||||||||||||||||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions | ' |
Related Party Transactions | ' |
21. Related Party Transactions | |
        Notes receivable—Bunge holds a note receivable from Southwest Iowa Renewable Energy, a 25% owned U.S. investment, having a carrying value of approximately $27 million and $37 million at December 31, 2013 and 2012, respectively. This note matures in August 2014 with interest payable at a rate of LIBOR plus 7.5%. | |
        Bunge holds a note receivable from Societe Diester Industrie International, a 40% owned investment in France, having a carrying value of approximately $15 million at December 31, 2013. This note matures in March 2014 with interest payable at a rate of 3.7%. | |
        Bunge holds a note receivable from PT Bumiraya Investido, a 35% owned investment in Indonesia, having a carrying value of approximately $5 million at December 31, 2013. This note matures in January 2014 with interest payable at a rate of 9.6%. | |
        Bunge held a note receivable under a revolving credit facility from Bunge-Ergon Vicksburg LLC, a 50% owned U.S. joint venture in the amount of $9 million at December 31, 2012. During the year ended December 31, 2012, Bunge recorded an impairment of $29 million related to the note receivable. Concurrent with the impairment of the note receivable, Bunge ceased recognition of interest income associated with this loan. | |
        Bunge holds a note receivable from Biodiesel Bilbao S.A., a 20% owned investment in Spain, having a carrying value of approximately $3 million and $6 million at December 31, 2013 and 2012, respectively. This note matures in December 2015 with interest payable at a rate of 2.5%. In October 2013, Bunge recorded an impairment of $3 million related to the note receivable. | |
        Bunge has held notes receivables from related parties totaling $14 million and $34 million at December 31, 2013 and 2012, respectively. | |
        Bunge has recognized interest income related to these notes receivable of approximately $2 million for each of the years ended December 31, 2013, 2012 and 2011, respectively, in interest income in its consolidated statements of income. Notes receivable are included in other current assets or other non-current assets in the consolidated balance sheets, according to payment terms. | |
        Notes payable—Bunge has a note payable with a carrying value of $2 million at December 31, 2013, to Senwes Limited, its partner in the Bunge Senwes joint venture in South Africa. Bunge had a note payable with a carrying value of $7 million at December 31, 2012, to a joint venture partner in a port terminal in Brazil. These notes are included in other current liabilities in Bunge's consolidated balance sheet as of December 31, 2013. | |
        Other—Bunge purchased soybeans, other commodity products and phosphate-based products from certain of its unconsolidated joint ventures, which totaled $446 million, $685 million and $835 million for the years ended December 31, 2013, 2012 and 2011, respectively. Bunge also sold soybean and other commodity products to certain of these joint ventures, which totaled $440 million, $592 million and $452 million for the years ended December 31, 2013, 2012 and 2011, respectively. At December 31, 2013 and 2012, Bunge had approximately $90 million and $169 million, respectively, of receivables from these joint ventures recorded in trade accounts receivable in the consolidated balance sheets as of those dates. In addition, at December 31, 2013 and 2012, Bunge had approximately $29 million and $128 million, respectively, of payables to these joint ventures recorded in trade accounts payable in the consolidated balance sheets. | |
        In addition, Bunge provided services during the years ended December 31, 2013 and 2012, to its unconsolidated investees totaling $81 million and $78 million, respectively, for services including primarily tolling and administrative support. Bunge believes these transaction values are similar to those that would be conducted with third parties. | |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Commitments and Contingencies | ' | ||||||||||
Commitments and Contingencies | ' | ||||||||||
22. Commitments and Contingencies | |||||||||||
        Bunge is party to a large number of claims and lawsuits, primarily tax and labor claims in Brazil and tax claims in Argentina, arising in the normal course of business. The ability to predict the ultimate outcome of such matters involves judgments, estimates and inherent uncertainties. Bunge records liabilities related to its general claims and lawsuits when the exposure item becomes probable and can be reasonably estimated. Bunge believes none of these matters are expected to have a material adverse effect on Bunge's financial condition, results of operations or liquidity. However, these matters are subject to inherent uncertainties and there exists the remote possibility of an adverse impact on Bunge's position in the period the uncertainties are resolved whereby the settlement of the identified contingencies could exceed the amount of provisions included in the consolidated balance sheets. Included in other non-current liabilities at December 31, 2013 and 2012 are the following amounts related to these matters: | |||||||||||
December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | |||||||||
Tax claims | $ | 59 | $ | 70 | |||||||
Labor claims | 76 | 75 | |||||||||
Civil and other claims | 101 | 109 | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Total | $ | 236 | $ | 254 | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
        Tax claims—The tax claims relate principally to claims against Bunge's Brazilian subsidiaries, primarily value-added tax claims (ICMS, IPI, PIS and COFINS). 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. Bunge monitors the Brazilian federal and state governments' responses to recent Brazilian Supreme Court decisions invalidating certain ICMS incentives and benefits granted by various states on constitutional grounds. While Bunge was not a recipient of any of the incentives and benefits that were the subject of the Supreme Court decisions, it has received certain similar tax incentives and benefits. Bunge has not received any tax assessment related to the validity of ICMS incentives or benefits it has received and, based on its assessment of the matter under the provisions of GAAP, no liability has been recorded in the consolidated financial statements. (See also Note 14 related to tax return examinations of certain Brazilian subsidiaries). | |||||||||||
        The Argentine tax authorities have been conducting a review of income and other taxes paid by exporters and processors of cereals and other agricultural commodities in the country. In that regard, in October 2010, the Argentine tax authorities carried out inspections at several of Bunge's locations in Argentina relating to allegations of income tax evasion covering the periods from 2007 to 2009. In December 2012, Bunge's Argentine subsidiary received an income tax assessment relating to fiscal years 2006 and 2007 with a claim of approximately 436 million Argentine pesos (approximately $67 million as of December 31, 2013), plus previously accrued interest on the outstanding amount due of approximately 750 million Argentine pesos (approximately $115 million as of December 31, 2013). Bunge's Argentine subsidiary has appealed this assessment before the National Tax Court. Fiscal years 2008 and 2009 are currently being audited by the tax authorities. It is likely that the tax authorities will also audit fiscal years 2010-2012, although no notice has been rendered to Bunge's Argentine subsidiary. Additionally, in April 2011, the Argentine tax authorities conducted inspections of Bunge's locations and those of several other grain exporters with respect to allegations of evasion of liability for value-added taxes and an inquest proceeding has been initiated in the first quarter of 2012 to determine whether there is any potential criminal culpability relating to these matters. Also during 2011, Bunge paid $112 million of accrued export tax obligations in Argentina under protest while reserving all of its rights in respect of such payment. In the first quarter of 2012, the Argentine tax authorities assessed interest on these paid export taxes, which as of December 31, 2013, would total approximately $147 million. Additionally, in April 2012, the Argentine government suspended Bunge's Argentine subsidiary from a registry of grain traders and, in October 2012, the government excluded Bunge's subsidiary from this registry in connection with the income tax allegations. These actions primarily result in additional administrative requirements and increased logistical costs on domestic grain shipments within Argentina. While the suspension and exclusion have not had a material adverse effect on Bunge's business in Argentina, Bunge is challenging the exclusion from the grain registry in the Argentine courts. Management believes that these tax-related allegations and claims are without merit and intends to vigorously defend against them. However, management is, at this time, unable to predict their outcome. | |||||||||||
        In December, 2012, the Brazilian tax authorities concluded an examination of the PIS COFINS tax returns of one of Bunge's Brazilian subsidiaries for the years 2004-2007 and proposed adjustments totaling approximately $140 million plus applicable interest and penalties. Management, in consultation with external legal advisors, has reviewed and responded to the proposed adjustments. In conjunction with this review, management has established appropriate reserves for potential exposures. | |||||||||||
        Labor claims—The labor claims are principally claims against Bunge's Brazilian subsidiaries. The labor claims primarily relate to dismissals, severance, health and safety, salary adjustments and supplementary retirement benefits. | |||||||||||
        Civil and other—The civil and other claims relate to various disputes with third parties, including suppliers and customers. | |||||||||||
        Guarantees—Bunge has issued or was a party to the following guarantees at December 31, 2013: | |||||||||||
(US$ in millions) | Maximum Potential | ||||||||||
Future Payments | |||||||||||
Unconsolidated affiliates financing(1) | $ | 25 | |||||||||
Residual value guarantee(2) | 90 | ||||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Total | $ | 115 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | |||||||
-1 | |||||||||||
Bunge issued guarantees to certain financial institutions related to debt of certain of its unconsolidated joint ventures. The terms of the guarantees are equal to the terms of the related financings which have maturity dates in 2014 through 2017. There are no recourse provisions or collateral that would enable Bunge to recover any amounts paid under these guarantees. At December 31, 2013, Bunge had no outstanding recorded obligation related to these guarantees. | |||||||||||
-2 | |||||||||||
Bunge issued guarantees to certain financial institutions which are party to certain operating lease arrangements for railcars and barges. These guarantees provide for a minimum residual value to be received by the lessor at conclusion of the lease term. These leases expire at various dates from 2016 through 2019. At December 31, 2013, Bunge's recorded obligation related to these guarantees was $3 million. | |||||||||||
        In addition, Bunge Limited has provided full and unconditional parent level guarantees of the outstanding indebtedness under certain senior credit facilities and senior notes entered into, or issued by, its 100% owned subsidiaries. At December 31, 2013, Bunge's consolidated balance sheet includes debt with a carrying amount of $3,302 million related to these guarantees. This debt includes the senior notes issued by two of Bunge's 100% owned finance subsidiaries, Bunge Limited Finance Corp. and Bunge N.A. Finance L.P. There are no significant restrictions on the ability of Bunge Limited Finance Corp., Bunge N.A. Finance L.P. or any other Bunge subsidiary to transfer funds to Bunge Limited. | |||||||||||
        Freight Supply Agreements—In the ordinary course of business, Bunge enters into time charter agreements for the use of ocean freight vessels and freight service on railroad lines for the purpose of transporting agricultural commodities. In addition, Bunge sells the right to use these ocean freight vessels when excess freight capacity is available. These agreements generally range from two months to approximately seven years, in the case of ocean freight vessels, depending on market conditions, and 5 to 17 years in the case of railroad services. Future minimum payment obligations due under these agreements are as follows: | |||||||||||
(US$ in millions) | Ocean Freight | Railroad | Future | ||||||||
Vessels | Services | Minimum Payment | |||||||||
Obligations | |||||||||||
2014 | $ | 209 | $ | 75 | $ | 284 | |||||
2015 and 2016 | 94 | 54 | 148 | ||||||||
2017 and 2018 | 93 | 51 | 144 | ||||||||
2019 and thereafter | 132 | 213 | 345 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 528 | $ | 393 | $ | 921 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
        Actual amounts paid under these contracts may differ due to the variable components of these agreements and the amount of income earned on the sales of excess capacity. The agreements for the freight service on railroad lines require a minimum monthly payment regardless of the actual level of freight services used by Bunge. The costs of Bunge's freight supply agreements are typically passed through to the customers as a component of the prices charged for its products. | |||||||||||
        Also in the ordinary course of business, Bunge enters into relet agreements related to ocean freight vessels. Such relet agreements are similar to sub-leases. Bunge received approximately $91 million during the year ended December 31, 2013 and expects to receive payments of approximately $9 million in 2014 under such relet agreements. | |||||||||||
        Commitments—At December 31, 2013, Bunge had approximately $241 million of purchase commitments related to its inventories, $17 million of power supply contracts, $79 million of rail car purchase commitments and $105 million of contractual commitments related to construction in progress. | |||||||||||
Redeemable_Noncontrolling_Inte
Redeemable Noncontrolling Interests | 12 Months Ended |
Dec. 31, 2013 | |
Redeemable Noncontrolling Interests | ' |
Redeemable Noncontrolling Interests | ' |
23. Redeemable Noncontrolling Interests | |
        In July 2012, Bunge acquired a controlling interest in a newly formed oilseed processing venture in Europe (see Note 2). As part of the transaction, Bunge entered into a variable price put arrangement subject to a floor and ceiling price, whereby the noncontrolling interest holder can require the Company to acquire the remaining shares of the operation during specific option exercise periods from April to May 2016, 2017 and 2018, respectively. Bunge has elected to accrete the changes in the redemption value through additional paid-in capital over the period from the date of issuance to the earliest redemption date following the effective interest method. At December 31, 2013 and 2012, $37 million and $29 million, respectively, is included in redeemable noncontrolling interests in the consolidated balance sheets. The difference between redemption value and carrying amount was insignificant. | |
        In May 2012, Bunge acquired a controlling interest in a wheat mill and bakery mix operation (see Note 2) and, as part of the transaction, Bunge entered into a variable price put arrangement whereby the noncontrolling interest holder can require Bunge to acquire the remaining shares of the operation on or after May 4, 2015. In December 2013, Bunge acquired the remaining 5% interest of the noncontrolling interest for $10 million. At December 31, 2012, $9 million is included in redeemable noncontrolling interests in Bunge's consolidated balance sheets. | |
Equity
Equity | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Equity | ' | ||||||||||||||||
Equity | ' | ||||||||||||||||
24. Equity | |||||||||||||||||
        Share Repurchase Program—On June 8, 2010, Bunge announced that its Board of Directors had approved a program for the repurchase of up to $700 million of Bunge's issued and outstanding common shares. The program was approved to run through December 31, 2011. On December 7, 2011, the Board of Directors approved a one-year extension of Bunge's existing share repurchase program through December 31, 2012. On December 5, 2012, the Board of Directors approved a $275 million increase in the size of the share repurchase program and extended the program for an indefinite period. Bunge repurchased 1,933,286 common shares for $120 million during the year ended December 31, 2011 and 6,714,573 common shares for $354 million during the year ended December 31, 2010, bringing total repurchases under the program from inception through December 31, 2013 to 8,647,859 shares for $474 million. Bunge did not repurchase any shares under the program during the years ended December 31, 2013 and 2012. | |||||||||||||||||
        Cumulative Convertible Perpetual Preference Shares—Bunge has 6,900,000, 4.875% cumulative convertible perpetual preference shares (convertible preference shares), par value $0.01 outstanding at December 31, 2013. Each convertible preference share has an initial liquidation preference of $100 per share plus accumulated unpaid dividends up to a maximum of an additional $25 per share. As a result of adjustments made to the initial conversion price because cash dividends paid on Bunge Limited's common shares exceeded certain specified thresholds, each convertible preference share is convertible at any time at the holder's option into approximately 1.1131 common shares based on a conversion price of $89.8378 per convertible preference share, subject in each case to certain specified anti-dilution adjustments (which represents 7,680,390 Bunge Limited common shares at December 31, 2013). | |||||||||||||||||
        At any time on or after December 1, 2011, if the closing market price of Bunge's common shares equals or exceeds 130% of the conversion price of the convertible preference shares, for 20 trading days within any period of 30 consecutive trading days (including the last trading day of such period), Bunge may elect to cause all outstanding convertible preference shares to be automatically converted into the number of common shares that are issuable at the conversion price. The convertible preference shares are not redeemable by Bunge at any time. | |||||||||||||||||
        The convertible preference shares accrue dividends at an annual rate of 4.875%. Dividends are cumulative from the date of issuance and are payable, quarterly in arrears, on each March 1, June 1, September 1 and December 1, commencing on March 1, 2007, when, as and if declared by Bunge's Board of Directors. The dividends may be paid in cash, common shares or a combination thereof. Accumulated but unpaid dividends on the convertible preference shares will not bear interest. In each of the years ended December 31, 2013 and 2012, Bunge recorded $34 million of dividends on its convertible preference shares. | |||||||||||||||||
        Accumulated Other Comprehensive Income (Loss) Attributable to Bunge—The following table summarizes the balances of related after-tax components of accumulated other comprehensive income (loss) attributable to Bunge: | |||||||||||||||||
(US$ in millions) | Foreign | Deferred | Pension | Unrealized | Accumulated | ||||||||||||
Exchange | Gains and Losses | and Other | Gains and | Other | |||||||||||||
Translation | on Hedging | Postretirement | Losses on | Comprehensive | |||||||||||||
Adjustment(1) | Activities | Liability | Investments | Income (Loss) | |||||||||||||
Adjustment | |||||||||||||||||
Balance, January 1, 2011 | $ | 670 | $ | (2 | ) | $ | (83 | ) | $ | (2 | ) | $ | 583 | ||||
Other comprehensive income (loss) before reclassification | (1,130 | ) | 5 | (41 | ) | — | (1,166 | ) | |||||||||
Amount reclassified from accumulated other comprehensive income | — | (27 | ) | — | — | (27 | ) | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net-current period other comprehensive income | (1,130 | ) | (22 | ) | (41 | ) | — | (1,193 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2011 | (460 | ) | (24 | ) | (124 | ) | (2 | ) | (610 | ) | |||||||
Other comprehensive income (loss) before reclassification | (805 | ) | 5 | (33 | ) | 11 | (822 | ) | |||||||||
Amount reclassified from accumulated other comprehensive income | — | 22 | — | — | 22 | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net-current period other comprehensive income | (805 | ) | 27 | (33 | ) | 11 | (800 | ) | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2012 | (1,265 | ) | 3 | (157 | ) | 9 | (1,410 | ) | |||||||||
Other comprehensive income (loss) before reclassification | (1,217 | ) | — | 88 | 5 | (1,124 | ) | ||||||||||
Amount reclassified from accumulated other comprehensive income | (4 | ) | (25 | ) | — | (9 | ) | (38 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net-current period other comprehensive income | (1,221 | ) | (25 | ) | 88 | (4 | ) | (1,162 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2013 | $ | (2,486 | ) | $ | (22 | ) | $ | (69 | ) | $ | 5 | $ | (2,572 | ) | |||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | |||||||||||||||||
Bunge has significant operating subsidiaries in Brazil, Argentina and Europe. The functional currency of Bunge's subsidiaries is the local currency. The assets and liabilities of these subsidiaries are translated into U.S. dollars from local currency at month-end exchange rates, and the resulting foreign exchange translation gains (losses) are recorded in the consolidated balance sheets as a component of accumulated other comprehensive income (loss). | |||||||||||||||||
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Earnings Per Share | ' | ||||||||||
Earnings Per Share | ' | ||||||||||
25. 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. | |||||||||||
        The following table sets forth the computation of basic and diluted earnings per common share: | |||||||||||
Year Ended December 31, | |||||||||||
(US$ in millions, except for share data) | 2013 | 2012 | 2011 | ||||||||
Income from continuing operations | $ | 110 | $ | 378 | $ | 965 | |||||
Net (income) loss attributable to noncontrolling interests | 99 | 28 | 2 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income from continuing operations attributable to Bunge | 209 | 406 | 967 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Other redeemable obligations(1) | (42 | ) | (2 | ) | — | ||||||
Convertible preference share dividends and other obligations | (34 | ) | (34 | ) | (34 | ) | |||||
Income (loss) from discontinued operations, net of tax | 97 | (342 | ) | (25 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income available to Bunge common shareholders | $ | 230 | $ | 28 | $ | 908 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Weighted-average number of common shares outstanding: | |||||||||||
Basic | 147,204,082 | 146,000,541 | 146,583,128 | ||||||||
Effect of dilutive shares: | |||||||||||
— | 1,053,227 | 1,134,945 | 1,042,127 | ||||||||
stock options and awards(2) | |||||||||||
— | — | — | 7,583,790 | ||||||||
convertible preference shares(3) | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Diluted | 148,257,309 | 147,135,486 | 155,209,045 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Basic earnings per common share: | |||||||||||
Net income (loss) from continuing operations | $ | 0.91 | $ | 2.53 | $ | 6.37 | |||||
Net income (loss) from discontinued operations | 0.66 | (2.34 | ) | (0.17 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income attributable to Bunge common shareholders—basic | $ | 1.57 | $ | 0.19 | $ | 6.2 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Diluted earnings per common share: | |||||||||||
Net income (loss) from continuing operations | $ | 0.9 | $ | 2.51 | $ | 6.23 | |||||
Net income (loss) from discontinued operations | 0.65 | (2.32 | ) | (0.16 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income attributable to Bunge common shareholders—diluted | $ | 1.55 | $ | 0.19 | $ | 6.07 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | |||||||||||
Accretion of redeemable noncontrolling interests of $42 million and $2 million for the years ended December 31, 2013 and 2012, respectively, relates to a non-fair value variable put arrangement whereby the noncontrolling interest holder may require Bunge to purchase the remaining shares of an oilseed processing operation in Eastern Europe. Accretion for the respective periods includes the effect of losses incurred by the operations for the years ended December 31, 2013, and 2012, respectively. | |||||||||||
-2 | |||||||||||
The weighted-average common shares outstanding-diluted excludes approximately 3 million, 4 million and 4 million stock options and contingently issuable restricted stock units, which were not dilutive and not included in the computation of diluted earnings per share for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
-3 | |||||||||||
Weighted-average common shares outstanding-diluted for the years ended December 31, 2013 and 2012, excludes the effect of approximately 7.7 million and 7.6 million, respectively, weighted-average common shares that would be issuable upon conversion of Bunge's convertible preference shares because the effect would not have been dilutive. | |||||||||||
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Share-Based Compensation | ' | |||||||||||||
Share-Based Compensation | ' | |||||||||||||
26. Share-Based Compensation | ||||||||||||||
        For the year ended December 31, 2013, Bunge recognized approximately $27 million and $26 million 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. For the year ended December 31, 2012, Bunge recognized approximately $25 million and $19 million 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. For the year ended December 31, 2011, Bunge recognized approximately $24 million and $25 million 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. | ||||||||||||||
        2009 Equity Incentive Plan and Equity Incentive Plan—During the year ended December 31, 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'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 May 8, 2009, the date of shareholder approval of the 2009 EIP, Bunge granted equity-based awards under the Equity Incentive Plan (the Equity Incentive Plan), a shareholder approved plan. Under the Equity Incentive Plan, the compensation committee of the Bunge's 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 May 8, 2009, no further awards can be granted under the Equity Incentive Plan. | ||||||||||||||
          (i)  Stock Option Awards—Stock 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 the grant, as determined under the Equity Incentive Plan or the 2009 EIP, as applicable. Options expire ten years after the date of the 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, compensation expense is recognized on an accelerated basis over the vesting period of each grant. | ||||||||||||||
         (ii)  Restricted Stock Units—Performance-based restricted stock units and time-vested restricted stock units are granted at no cost to employees. Performance-based restricted stock units are awarded at the beginning of a three-year performance period and vest following the end of that three-year period. Performance-based restricted stock units fully vest on the third anniversary of the date of grant. Payment of the units is subject to Bunge attaining certain targeted cumulative earnings per share (EPS) during the three-year performance period. Targeted cumulative EPS under the Equity Incentive Plan or the 2009 EIP, as applicable, is based on income per share from continuing operations adjusted for non-recurring charges and other one-time events at the discretion of the compensation committee. Vesting may be accelerated in certain circumstances as provided in the 2009 EIP and in the Equity Incentive Plan. Payment of the award is calculated based on a sliding scale whereby 50% of the performance-based restricted stock unit award vests if the minimum performance target is achieved. No vesting occurs if actual cumulative EPS is less than the minimum performance target. The award is capped at 200% of the grant for actual performance in excess of the maximum performance target for an award. Awards are paid solely in Bunge Limited common shares. | ||||||||||||||
        Time-vested restricted stock units are subject to vesting periods varying from three to five years and vest on either a pro-rata basis over the applicable vesting period or 100% at the end of the applicable vesting period, as determined by the compensation committee at the time of the grant. Vesting may be accelerated in certain circumstances as provided in the 2009 EIP and the Equity Incentive Plan. Time-vested restricted stock units are paid in Bunge Limited common shares upon satisfaction of the applicable vesting terms. | ||||||||||||||
        At the time of payout, a participant holding a vested restricted stock unit will also be entitled to receive corresponding dividend equivalent share payments. Dividend equivalents on performance-based restricted stock units are capped at the target level. Compensation expense for restricted stock units is equal to the market value of Bunge Limited common shares at the date of the grant and is recognized on a straight-line basis over the vesting period of each grant. | ||||||||||||||
        2007 Non-Employee Directors' Equity Incentive Plan—Bunge has established the Bunge Limited 2007 Non-Employee Directors' Equity Incentive Plan (the 2007 Directors' Plan), a shareholder approved plan. Under the 2007 Directors' Plan, the compensation committee may grant equity based awards to non-employee directors of Bunge Limited. Awards may consist of restricted stock, restricted stock units, deferred restricted stock units and non-statutory stock options. | ||||||||||||||
          (i)  Stock Option Awards—Stock options to purchase Bunge Limited common shares are granted with an exercise price equal to the market value of Bunge Limited common shares on the date of the grant, as determined under the 2007 Directors' Plan. Options expire ten years after the date of the grant and generally vest and are exercisable on the third anniversary of the grant date. Vesting may be accelerated in certain circumstances as provided in the 2007 Directors' Plan. Compensation expense is recognized on a straight-line basis. | ||||||||||||||
         (ii)  Restricted Stock Units—Restricted stock units and deferred restricted stock units are granted at no cost to the non-employee directors. Restricted stock units generally vest on the third anniversary of the grant date and payment is made in Bunge Limited common shares. Deferred restricted stock units generally vest on the first anniversary of the grant date and payment is deferred until after the third anniversary of the date of grant and made in Bunge Limited common shares. Vesting may be accelerated in certain circumstances as provided in the 2007 Directors' Plan. | ||||||||||||||
        At the time of payment, a participant holding a restricted stock unit or deferred restricted stock unit is also entitled to receive corresponding dividend equivalent share payments. Compensation expense is equal to the market value of Bunge Limited common shares at the date of grant and is recognized on a straight-line basis over the vesting period of each grant. | ||||||||||||||
        Non-Employee Directors' Equity Incentive Plan—Prior to the May 25, 2007 shareholder approval of the 2007 Directors' Plan, Bunge granted equity-based awards to its non-employee directors under the Non-Employee Directors' Equity Incentive Plan (the Directors' Plan) which is also a shareholder approved plan. The Directors' Plan provides for awards of non-statutory stock options to non-employee directors. The options vest and are exercisable on the January 1st following the grant date. Vesting may be accelerated in certain circumstances as provided in the Directors' Plan. Compensation expense has been recognized for option grants beginning in 2006 on a straight-line basis and for options granted prior to 2006 on an accelerated basis over the vesting period of each grant. Effective May 25, 2007, no further awards are granted under the Directors' Plan. | ||||||||||||||
        The fair value of each stock option granted under any of Bunge's equity incentive plans is estimated on the grant date using the Black-Scholes-Merton option-pricing model with the assumptions noted in the following table. The expected volatility of Bunge's common shares is based on historical volatility calculated using the daily closing price of Bunge's shares up to the grant date. Bunge uses historical employee exercise behavior for valuation purposes. The expected option term of granted options represents the period of time that the granted options are expected to be outstanding based on historical experience and giving consideration for the contractual terms, vesting periods and expectations of future employee behavior. The risk-free interest rate is based on U.S. Treasury zero-coupon bonds with a term equal to the expected option term of the respective grants and grant dates. | ||||||||||||||
December 31, | ||||||||||||||
Assumptions: | 2013 | 2012 | 2011 | |||||||||||
Expected option term (in years) | 6 | 5.94 | 5.39 | |||||||||||
Expected dividend yield | 1.45 | % | 1.48 | % | 1.29 | % | ||||||||
Expected volatility | 43.23 | % | 44.26 | % | 45.45 | % | ||||||||
Risk-free interest rate | 1.01 | % | 1.15 | % | 2.48 | % | ||||||||
        A summary of option activity under the plans for the year ended December 31, 2013 is presented below: | ||||||||||||||
Options | Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||
(US$ in millions) | Exercise Price | Remaining | Intrinsic | |||||||||||
Contractual | Value | |||||||||||||
Term (Years) | ||||||||||||||
Outstanding at January 1, 2013 | 5,741,819 | $ | 65.59 | |||||||||||
Granted | 785,375 | 74.32 | ||||||||||||
Exercised | (1,070,635 | ) | 49.52 | |||||||||||
Forfeited or expired | (292,391 | ) | 82.36 | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Outstanding at December 31, 2013 | 5,164,168 | $ | 69.3 | 5.98 | $ | 77 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Exercisable at December 31, 2013 | 3,498,165 | $ | 68.4 | 4.8 | $ | 59 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
        The weighted-average grant date fair value of options granted during the years ended December 31, 2013, 2012 and 2011 was $26.95, $25.06 and $27.99, respectively. The total intrinsic value of options exercised during the years ended December 31, 2013, 2012 and 2011 was approximately $29 million, $19 million and $24 million, respectively. The excess tax benefit classified as a financing cash flow was not significant for any of the periods presented. | ||||||||||||||
        At December 31, 2013, $64 million of total unrecognized compensation cost related to non-vested stock options granted under the Equity Incentive Plan is expected to be recognized over the next two years. | ||||||||||||||
        A summary of activity under Bunge's restricted stock unit plans for the year ended December 31, 2013 is presented below. | ||||||||||||||
Restricted Stock Units | Shares | Weighted-Average | ||||||||||||
Grant-Date | ||||||||||||||
Fair Value | ||||||||||||||
Restricted stock units at January 1, 2013(1) | 1,332,745 | $ | 66.17 | |||||||||||
Granted | 543,412 | 74.4 | ||||||||||||
Vested/issued(2) | (339,335 | ) | 56.78 | |||||||||||
Forfeited/cancelled(2) | (254,496 | ) | 71.56 | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Restricted stock units at December 31, 2013(1) | 1,282,326 | $ | 71.07 | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
-1 | ||||||||||||||
Excludes accrued unvested dividends, which are payable in shares upon vesting of Bunge's common shares. At December 31, 2013, there were 37,352 unvested dividends accrued. Accrued unvested dividends are revised upon non-achievement of performance targets. | ||||||||||||||
-2 | ||||||||||||||
During the year ended December 31, 2013, Bunge issued 339,335 common shares, net of common shares withheld to cover taxes, including related common shares representing accrued dividends, with a weighted-average fair value of $73.03 per share. At December 31, 2013, Bunge has approximately 18,074 deferred common share units including common shares representing accrued dividends. During the year ended December 31, 2013, Bunge canceled approximately 212,309 shares related to performance-based restricted stock unit awards that did not vest due to non-achievement of performance targets and performance-based restricted stock unit awards that were withheld to cover payment of employee related taxes. | ||||||||||||||
        The weighted-average grant date fair value of restricted stock units granted during the years ended December 31, 2013, 2012 and 2011 was $74.40, $67.08 and $70.36, respectively. | ||||||||||||||
        At December 31, 2013, there was approximately $36 million of total unrecognized compensation cost related to restricted stock units share-based compensation arrangements under the 2009 EIP, the Equity Incentive Plan and the 2007 Non-Employee Directors' Plan, which is expected to be recognized over the next two years. The total fair value of restricted stock units vested during the year ended December 31, 2013 was approximately $43 million. | ||||||||||||||
        Common Shares Reserved for Share-Based Awards—The 2007 Directors' Plan and the 2009 EIP provide that 600,000 and 10,000,000 common shares, respectively, are to be reserved for grants of stock options, stock awards and other awards under the plans. At December 31, 2013, 320,835 and 4,489,925 common shares were available for future grants under the 2007 Directors' Plan and the 2009 EIP, respectively. | ||||||||||||||
Lease_Commitments
Lease Commitments | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Lease Commitments | ' | ||||||||||
Lease Commitments | ' | ||||||||||
27. Lease Commitments | |||||||||||
        Bunge routinely leases storage facilities, transportation equipment and office facilities under operating leases. Future minimum lease payments by year and in the aggregate under non-cancelable operating leases with initial or remaining terms of one year or more at December 31, 2013 are as follows: | |||||||||||
(US$ in millions) | Minimum | ||||||||||
Lease | |||||||||||
Payments | |||||||||||
2014 | $ | 193 | |||||||||
2015 | 162 | ||||||||||
2016 | 148 | ||||||||||
2017 | 93 | ||||||||||
2018 | 80 | ||||||||||
Thereafter | 320 | ||||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Total | $ | 996 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | |||||||
        Net rent expense under non-cancelable operating leases is as follows: | |||||||||||
Year Ended | |||||||||||
December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
Rent expense | $ | 204 | $ | 189 | $ | 227 | |||||
Sublease income | (23 | ) | (35 | ) | (41 | ) | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net rent expense | $ | 181 | $ | 154 | $ | 186 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
        In addition, Bunge enters into agricultural partnership agreements for the production of sugarcane. These agreements have an average remaining life of five years and cover approximately 214,000 hectares of land under cultivation. Amounts owed under these agreements are dependent on several variables including the quantity of sugarcane produced per hectare, the total recoverable sugar (ATR) per ton of sugarcane produced and the price for each kilogram of ATR as determined by Consecana, the São Paulo state sugarcane and sugar and ethanol council. During the years ended December 31, 2013, 2012 and 2011, Bunge made payments related to these agreements of $169 million, $181 million and $91 million, respectively. Of these amounts $107 million, $127 million and $40 million, respectively, were payments for advances on future production and $62 million, $54 million and $51 million, respectively, were included in cost of goods sold in the consolidated statements of income for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
Operating_Segments_and_Geograp
Operating Segments and Geographic Areas | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Operating Segments and Geographic Areas | ' | ||||||||||||||||||||||
Operating Segments and Geographic Areas | ' | ||||||||||||||||||||||
28. Operating Segments and Geographic Areas | |||||||||||||||||||||||
        Bunge has five reportable segments—agribusiness, sugar and bioenergy, edible oil products, milling products and fertilizer—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 sugar and bioenergy segment involves sugarcane growing and milling in Brazil, sugar merchandising in various countries, as well as sugarcane-based ethanol production and corn-based ethanol investments and related activities. 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. Following the classification of the Brazilian fertilizer distribution and North American fertilizer businesses as discontinued operations (see Note 3), the activities of the fertilizer segment include its port operations in Brazil and its operations in Argentina. On September 17, 2013 OCP acquired Bunge's 50% ownership interest in our Moroccan fertilizer joint venture. | |||||||||||||||||||||||
        The "Discontinued Operations & Unallocated" column in the following table contains the reconciliation between the totals for reportable segments and Bunge consolidated totals, which consist primarily of amounts attributable to discontinued operations, corporate items not allocated to the operating segments and 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 segments or inter-segment eliminations." | |||||||||||||||||||||||
(US$ in millions) | Agribusiness | Sugar and | Edible Oil | Milling | Fertilizer | Discontinued | Total | ||||||||||||||||
Bioenergy | Products | Products | Operations & | ||||||||||||||||||||
Unallocated | |||||||||||||||||||||||
2013 | |||||||||||||||||||||||
Net sales to external customers | $ | 45,507 | $ | 4,215 | $ | 9,165 | $ | 2,012 | $ | 448 | $ | — | $ | 61,347 | |||||||||
Inter-segment revenues | 4,978 | 61 | 138 | 9 | 3 | (5,189 | ) | — | |||||||||||||||
Gross profit | 1,797 | 92 | 540 | 262 | 69 | — | 2,760 | ||||||||||||||||
Foreign exchange gain (loss) | 41 | 3 | 5 | (1 | ) | 5 | — | 53 | |||||||||||||||
Noncontrolling interests(2) | 31 | 9 | (7 | ) | — | (5 | ) | 71 | 99 | ||||||||||||||
Other income (expense)—net | (2 | ) | — | 10 | 3 | 33 | — | 44 | |||||||||||||||
Segment EBIT | 1,032 | (60 | ) | 163 | 125 | 69 | — | 1,329 | |||||||||||||||
Discontinued operations(3) | — | — | — | — | — | 97 | 97 | ||||||||||||||||
Depreciation, depletion and amortization expense | (240 | ) | (184 | ) | (99 | ) | (28 | ) | (17 | ) | — | (568 | ) | ||||||||||
Investments in affiliates | 185 | 56 | — | — | — | — | 241 | ||||||||||||||||
Total assets | 18,898 | 3,512 | 2,420 | 1,242 | 353 | 356 | 26,781 | ||||||||||||||||
Capital expenditures | 395 | 346 | 146 | 56 | 23 | 76 | 1,042 | ||||||||||||||||
2012 | |||||||||||||||||||||||
Net sales to external customers | $ | 44,561 | $ | 4,659 | $ | 9,472 | $ | 1,833 | $ | 466 | $ | — | $ | 60,991 | |||||||||
Inter-segment revenues | 5,377 | — | 119 | 1 | 58 | (5,555 | ) | — | |||||||||||||||
Gross profit | 1,786 | 64 | 446 | 201 | 76 | — | 2,573 | ||||||||||||||||
Foreign exchange gain (loss) | 111 | (15 | ) | (8 | ) | 1 | (1 | ) | — | 88 | |||||||||||||
Noncontrolling interests(2) | (9 | ) | 25 | 2 | — | (3 | ) | 13 | 28 | ||||||||||||||
Other income (expense)—net | (68 | ) | (3 | ) | (7 | ) | — | (14 | ) | — | (92 | ) | |||||||||||
Segment EBIT(1) | 1,047 | (637 | ) | 80 | 115 | 23 | — | 628 | |||||||||||||||
Discontinued operations(3) | — | — | — | — | — | (342 | ) | (342 | ) | ||||||||||||||
Depreciation, depletion and amortization expense | (221 | ) | (175 | ) | (93 | ) | (30 | ) | (18 | ) | — | (537 | ) | ||||||||||
Investments in affiliates | 195 | 37 | — | — | 41 | — | 273 | ||||||||||||||||
Total assets | 18,178 | 3,691 | 2,723 | 806 | 972 | 910 | 27,280 | ||||||||||||||||
Capital expenditures | 365 | 421 | 179 | 27 | 31 | 72 | 1,095 | ||||||||||||||||
2011 | |||||||||||||||||||||||
Net sales to external customers | $ | 38,844 | $ | 5,842 | $ | 8,839 | $ | 2,006 | $ | 566 | $ | — | $ | 56,097 | |||||||||
Inter-segment revenues | 4,952 | 13 | 86 | 50 | 66 | (5,167 | ) | — | |||||||||||||||
Gross profit (loss) | 1,687 | 149 | 462 | 234 | 95 | — | 2,627 | ||||||||||||||||
Foreign Exchange gain (loss) | (16 | ) | (4 | ) | 3 | — | 1 | — | (16 | ) | |||||||||||||
Noncontrolling interests(2) | (18 | ) | (2 | ) | (6 | ) | — | (4 | ) | 32 | 2 | ||||||||||||
Other income (expense)—net | (11 | ) | 4 | 3 | 2 | 9 | — | 7 | |||||||||||||||
Segment EBIT | 905 | (20 | ) | 137 | 104 | 63 | — | 1,189 | |||||||||||||||
Discontinued operations(3) | — | — | — | — | — | (25 | ) | (25 | ) | ||||||||||||||
Depreciation, depletion and amortization expense | (184 | ) | (171 | ) | (87 | ) | (27 | ) | (24 | ) | — | (493 | ) | ||||||||||
Investments in affiliates | 506 | 18 | — | 14 | 62 | — | 600 | ||||||||||||||||
Total assets | 15,903 | 3,805 | 2,445 | 715 | 2,353 | — | 25,221 | ||||||||||||||||
Capital expenditures | 494 | 376 | 145 | 25 | 56 | 29 | 1,125 | ||||||||||||||||
-1 | |||||||||||||||||||||||
During the year ended December 31, 2012, Bunge recorded a pre-tax impairment charge of $514 million in its sugar and bioenergy segment for the write-down of goodwill. In addition, Bunge recorded pre-tax impairment charges of $30 million and $19 million in selling, general and administrative expenses and other income (expense)-net, respectively related to the write-down of two separate affiliate loans to joint ventures and three separate equity method investments. Of these pre-tax impairment charges, $1 million and $9 million were allocated to the agribusiness segment in selling, general and administrative expenses and other income (expense)-net, respectively, and $29 million and $10 million was allocated to the sugar and bioenergy segment in selling, general and administrative expenses and other income (expense)-net, respectively. | |||||||||||||||||||||||
-2 | |||||||||||||||||||||||
Includes the noncontrolling interests' share of interest and tax to reconcile to consolidated noncontrolling interests. | |||||||||||||||||||||||
-3 | |||||||||||||||||||||||
Represents net income (loss) from discontinued operations (see Note 3). | |||||||||||||||||||||||
        Total segment earnings before interest and taxes (EBIT) is an operating performance measure used by Bunge's management to evaluate segment operating activities. Bunge's management believes total segment EBIT is a useful measure of operating profitability, since the measure allows for an evaluation of the performance of its segments without regard to its financing methods or capital structure. In addition, EBIT is a financial measure that is widely used by analysts and investors in Bunge's industries. | |||||||||||||||||||||||
        A reconciliation of total segment EBIT to net income attributable to Bunge follows: | |||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||
Total segment EBIT from continuing operations | $ | 1,329 | $ | 628 | $ | 1,189 | |||||||||||||||||
Interest income | 76 | 53 | 96 | ||||||||||||||||||||
Interest expense | (363 | ) | (294 | ) | (295 | ) | |||||||||||||||||
Income tax (expense) benefit | (904 | ) | 6 | (55 | ) | ||||||||||||||||||
Income (loss) from discontinued operations, net of tax | 97 | (342 | ) | (25 | ) | ||||||||||||||||||
Noncontrolling interests' share of interest and tax | 71 | 13 | 32 | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Net income attributable to Bunge | $ | 306 | $ | 64 | $ | 942 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
        Net sales by product group to external customers were as follows: | |||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||
Agricultural commodities products | $ | 45,507 | $ | 44,561 | $ | 38,844 | |||||||||||||||||
Sugar and bioenergy products | 4,215 | 4,659 | 5,842 | ||||||||||||||||||||
Edible oil products | 9,165 | 9,472 | 8,839 | ||||||||||||||||||||
Wheat milling products | 1,226 | 1,027 | 1,186 | ||||||||||||||||||||
Corn milling products | 786 | 806 | 820 | ||||||||||||||||||||
Fertilizer products | 448 | 466 | 566 | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Total | $ | 61,347 | $ | 60,991 | $ | 56,097 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
        Geographic area information for net sales to external customers, determined based on the location of the subsidiary making the sale, and long-lived assets follows: | |||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||
Net sales to external customers: | |||||||||||||||||||||||
Europe | $ | 19,821 | $ | 19,475 | $ | 18,417 | |||||||||||||||||
United States | 12,764 | 15,249 | 13,769 | ||||||||||||||||||||
Brazil | 9,679 | 8,583 | 8,335 | ||||||||||||||||||||
Asia | 12,516 | 11,160 | 9,590 | ||||||||||||||||||||
Argentina | 2,609 | 3,059 | 3,660 | ||||||||||||||||||||
Canada | 2,220 | 2,322 | 1,856 | ||||||||||||||||||||
Rest of world | 1,738 | 1,143 | 470 | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Total | $ | 61,347 | $ | 60,991 | $ | 56,097 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||
Long-lived assets(1): | |||||||||||||||||||||||
Europe | $ | 1,301 | $ | 1,238 | $ | 1,051 | |||||||||||||||||
United States | 965 | 987 | 1,307 | ||||||||||||||||||||
Brazil | 3,145 | 3,341 | 4,004 | ||||||||||||||||||||
Asia | 565 | 512 | 378 | ||||||||||||||||||||
Argentina | 248 | 330 | 287 | ||||||||||||||||||||
Canada | 316 | 236 | 180 | ||||||||||||||||||||
Rest of world | 540 | 163 | 23 | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Total | $ | 7,080 | $ | 6,807 | $ | 7,230 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
-1 | |||||||||||||||||||||||
Long-lived assets include property, plant and equipment, net, goodwill and other intangible assets, net, investments in affiliates and non-current assets held for sale. | |||||||||||||||||||||||
Quarterly_Financial_Informatio
Quarterly Financial Information (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information (Unaudited) | ' | ||||||||||||||||
Quarterly Financial Information (Unaudited) | ' | ||||||||||||||||
29. Quarterly Financial Information (Unaudited) | |||||||||||||||||
Quarter | |||||||||||||||||
(US$ in millions, except per share data) | First | Second | Third | Fourth | Year End | ||||||||||||
2013 | |||||||||||||||||
Volumes (in millions of metric tons) | 37 | 39 | 42 | 42 | 160 | ||||||||||||
Net sales | $ | 14,785 | $ | 15,491 | $ | 14,701 | $ | 16,370 | $ | 61,347 | |||||||
Gross profit | 647 | 616 | 688 | 809 | 2,760 | ||||||||||||
Income from discontinued operations, net of tax | (9 | ) | 1 | 103 | 2 | 97 | |||||||||||
Net income | 148 | 122 | (193 | ) | 130 | 207 | |||||||||||
Net income attributable to Bunge | 180 | 136 | (148 | ) | 138 | 306 | |||||||||||
Earnings per common share—basic(2) | |||||||||||||||||
Net income | $ | 1.01 | $ | 0.83 | $ | (1.31 | ) | $ | 0.88 | $ | 1.41 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) from continuing operations | $ | 1.22 | $ | 0.74 | $ | (1.82 | ) | $ | 0.76 | $ | 0.91 | ||||||
Net income (loss) from discontinued operations | (0.06 | ) | 0.02 | 0.69 | 0.02 | 0.66 | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) to Bunge common shareholders | $ | 1.16 | $ | 0.76 | $ | (1.13 | ) | $ | 0.78 | $ | 1.57 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Earnings per common share—diluted(2) | |||||||||||||||||
Net income | $ | 1 | $ | 0.83 | $ | (1.31 | ) | $ | 0.87 | $ | 1.4 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) from continuing operations | $ | 1.21 | $ | 0.74 | $ | (1.82 | ) | $ | 0.75 | $ | 0.9 | ||||||
Net income (loss) from discontinued operations | (0.06 | ) | 0.01 | 0.69 | 0.03 | 0.65 | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) to Bunge common shareholders | $ | 1.15 | $ | 0.75 | $ | (1.13 | ) | $ | 0.78 | $ | 1.55 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Weighted-average number of shares: | |||||||||||||||||
Weighted-average number of shares outstanding—basic | 146,648,822 | 147,128,500 | 147,349,175 | 147,678,707 | 147,204,082 | ||||||||||||
Weighted-average number of shares | |||||||||||||||||
outstanding—diluted | 147,867,817 | 147,873,841 | 147,349,175 | 148,803,918 | 148,257,309 | ||||||||||||
Market price: | |||||||||||||||||
High | $ | 79.92 | $ | 73.51 | $ | 79.15 | $ | 83.11 | |||||||||
Low | $ | 72.12 | $ | 66.4 | $ | 71.35 | $ | 76.11 | |||||||||
2012(1) | |||||||||||||||||
Volumes (in millions of metric tons) | 36 | 41 | 43 | 33 | 153 | ||||||||||||
Net sales | $ | 12,909 | $ | 14,499 | $ | 16,543 | $ | 17,040 | $ | 60,991 | |||||||
Gross profit | 537 | 643 | 843 | 550 | 2,573 | ||||||||||||
Income from discontinued operations, net of tax | (35 | ) | 8 | 4 | (319 | ) | (342 | ) | |||||||||
Net income | 89 | 266 | 301 | (620 | ) | 36 | |||||||||||
Net income attributable to Bunge | 92 | 274 | 297 | (599 | ) | 64 | |||||||||||
Earnings per common share—basic(2) | |||||||||||||||||
Net income | $ | 0.61 | $ | 1.82 | $ | 2.06 | $ | (4.24 | ) | $ | 0.25 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) from continuing operations | $ | 0.81 | $ | 1.77 | $ | 1.94 | $ | (1.99 | ) | $ | 2.53 | ||||||
Net income (loss) from discontinued operations | (0.24 | ) | 0.05 | 0.03 | (2.18 | ) | (2.34 | ) | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) to Bunge common shareholders | $ | 0.57 | $ | 1.82 | $ | 1.97 | $ | (4.17 | ) | $ | 0.19 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Earnings per common share—diluted(2) | |||||||||||||||||
Net income | $ | 0.61 | $ | 1.72 | $ | 1.95 | $ | (4.24 | ) | $ | 0.24 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) from continuing operations | $ | 0.8 | $ | 1.73 | $ | 1.89 | $ | (1.99 | ) | $ | 2.51 | ||||||
Net income (loss) from discontinued operations | (0.23 | ) | 0.05 | 0.03 | (2.18 | ) | (2.32 | ) | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) to Bunge common shareholders | $ | 0.57 | $ | 1.78 | $ | 1.92 | $ | (4.17 | ) | $ | 0.19 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Weighted-average number of shares: | |||||||||||||||||
Weighted-average number of shares outstanding—basic | 145,718,123 | 145,974,965 | 146,074,712 | 146,230,219 | 146,000,541 | ||||||||||||
Weighted-average number of shares outstanding—diluted | 146,582,899 | 154,475,872 | 154,645,337 | 146,230,219 | 147,135,486 | ||||||||||||
Market price: | |||||||||||||||||
High | $ | 68.44 | $ | 69.73 | $ | 67.3 | $ | 73.82 | |||||||||
Low | $ | 57.22 | $ | 57.83 | $ | 60.82 | $ | 67.74 | |||||||||
-1 | |||||||||||||||||
Net income for the fourth quarter of and year ended 2012 included an after-tax goodwill impairment charge of $339Â million. | |||||||||||||||||
-2 | |||||||||||||||||
Earnings per share to Bunge common shareholders for both basic and diluted is computed independently for each period presented. As a result, the sum of the quarterly earnings per share for the years ended December 31, 2013 and 2012 does not equal the total computed for the year. | |||||||||||||||||
Schedule_IIValuation_and_Quali
Schedule II-Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Schedule II-Valuation and Qualifying Accounts | ' | ||||||||||||||||
Schedule II-Valuation and Qualifying Accounts | ' | ||||||||||||||||
Schedule II—Valuation and Qualifying Accounts | |||||||||||||||||
(US$ in millions) | |||||||||||||||||
Description | Balance at | Charged to | Charged to | Deductions | Balance at | ||||||||||||
beginning of | costs and | other | from reserves | end of period | |||||||||||||
period | expenses | accounts(b) | |||||||||||||||
FOR THE YEAR ENDED DECEMBERÂ 31, 2011 | |||||||||||||||||
Allowances for doubtful accounts(a) | $ | 300 | 62 | (23 | ) | (92 | )(c) | $ | 247 | ||||||||
Allowances for secured advances to suppliers | $ | 87 | 6 | (9 | ) | (11 | ) | $ | 73 | ||||||||
Allowances for recoverable taxes | $ | 118 | 14 | (6 | ) | (28 | ) | $ | 98 | ||||||||
Income tax valuation allowances | $ | 245 | (11 | ) | (47 | )(d) | — | $ | 187 | ||||||||
FOR THE YEAR ENDED DECEMBERÂ 31, 2012 | |||||||||||||||||
Allowances for doubtful accounts(a) | $ | 247 | 129 | (12 | ) | (72 | )(c) | $ | 292 | ||||||||
Allowances for secured advances to suppliers | $ | 73 | 41 | (7 | ) | (29 | ) | $ | 78 | ||||||||
Allowances for recoverable taxes | $ | 98 | 61 | (44 | ) | (10 | ) | $ | 105 | ||||||||
Income tax valuation allowances | $ | 187 | 257 | 11 | (d) | — | $ | 455 | |||||||||
FOR THE YEAR ENDED DECEMBERÂ 31, 2013 | |||||||||||||||||
Allowances for doubtful accounts(a) | $ | 292 | 73 | (18 | ) | (64 | )(c) | $ | 283 | ||||||||
Allowances for secured advances to suppliers | $ | 78 | 34 | (10 | ) | (27 | ) | $ | 75 | ||||||||
Allowances for recoverable taxes | $ | 105 | 19 | (2 | ) | (52 | ) | $ | 70 | ||||||||
Income tax valuation allowances | $ | 455 | 642 | (49 | )(d) | — | $ | 1,048 | |||||||||
(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 and recoveries. | |||||||||||||||||
(d) | |||||||||||||||||
This includes a deferred tax asset adjustment. | |||||||||||||||||
Nature_of_Business_Basis_of_Pr1
Nature of Business, Basis of Presentation, and Significant Accounting Policies (Policies) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Nature of Business, Basis of Presentation, and Significant Accounting Policies | ' | ||
Basis of Presentation and Principles of Consolidation | ' | ||
 Basis of Presentation—The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). | |||
        Principles of Consolidation—The accompanying consolidated financial statements include the accounts of Bunge, its subsidiaries and VIEs in which Bunge is considered to be the primary beneficiary, and as a result, include the assets, liabilities, revenues and expenses of all entities over which Bunge exercises control. Equity investments in which Bunge has the ability to exercise significant influence but does not control are accounted for by the equity method of accounting. Investments in which Bunge does not exercise significant influence are accounted for by the cost method of accounting. Intercompany accounts and transactions are eliminated. Bunge consolidates VIEs in which it is considered the primary beneficiary and reconsiders such conclusion at each reporting period. An enterprise is determined to be the primary beneficiary if it has a controlling financial interest under GAAP, defined as (a) the power to direct the activities of a VIE that most significantly impact the VIE's business and (b) the obligation to absorb losses of or the right to receive benefits from the VIE that could potentially be significant to the VIE's operations. Performance of that analysis requires the exercise of judgment. Where Bunge has an interest in an entity that has qualified for the deferral of the consolidation rules, it follows consolidation rules prior to January 1, 2010. These rules require an analysis to (a) determine whether an entity in which Bunge has a variable interest is a VIE and (b) whether Bunge's involvement, through the holding of equity interests directly or indirectly in the entity or contractually through other variable interests, would be expected to absorb a majority of the variability of the entity. This latter evaluation resulted in the consolidation of certain private equity and other investment funds (the consolidated funds) related to an asset management business acquisition completed in 2012. | |||
        The consolidated funds are, for GAAP purposes, investment companies and therefore are not required to consolidate their majority owned and controlled investments. Rather, Bunge reflects these investments at fair value. In addition, certain of these consolidated funds have limited partner investors with investments in the form of equity, which are accounted for as noncontrolling interests and investments in the form of debt for which Bunge has elected the fair value option (see Note 2). | |||
        Noncontrolling interests in subsidiaries related to Bunge's ownership interests of less than 100% are reported as noncontrolling interests in the consolidated balance sheets. The noncontrolling ownership interests in Bunge's earnings, net of tax, is reported as net (income) loss attributable to noncontrolling interests in the consolidated statements of income. | |||
Discontinued Operations | ' | ||
 Discontinued Operations—In determining whether a group of assets disposed (or to be disposed) of should be presented as discontinued operations, Bunge makes a determination of whether the group of assets being disposed of comprises a component of the entity; that is, whether it has historical operations and cash flows that can be clearly distinguished (both operationally and for financial reporting purposes). Bunge also determines whether the cash flows associated with the group of assets have been or will be significantly eliminated from the ongoing operations of Bunge as a result of the disposal transaction and whether Bunge has no significant continuing involvement in the operations of the group of assets after the disposal transaction. If these determinations are made affirmatively, the results of operations of the group of assets being disposed of (as well as any gain or loss on the disposal transaction) are aggregated for separate presentation apart from the continuing operations of the Company for all periods presented in the consolidated financial statements (see Note 3). | |||
Reclassifications | ' | ||
 Reclassifications—Certain prior year amounts have been reclassified to conform to current year presentation. | |||
Use of Estimates | ' | ||
Use of Estimates—The preparation of consolidated financial statements requires the application of accounting policies that often involve substantial judgment or estimation in their application. These judgments and estimations may significantly affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. They may also affect reported amounts of revenues and expenses. The policies Bunge considers to be most dependent on the application of estimates and assumptions include allowances for doubtful accounts, valuation allowances for recoverable taxes and deferred tax assets, impairment of long-lived assets and unconsolidated affiliates, restructuring charges, useful lives of property, plant and equipment and intangible assets, contingent liabilities, liabilities for unrecognized tax benefits and pension plan obligations. In addition, significant management estimates and assumptions are required in allocating the purchase price paid in business acquisitions to the assets and liabilities acquired (see Note 2) and the determination of fair values of Level 3 assets and liabilities (see Note 15). | |||
Foreign currency translations and transactions policy | ' | ||
Translation of Foreign Currency Financial Statements—Bunge's reporting currency is the U.S. dollar. The functional currency of the majority of Bunge's foreign subsidiaries is their local currency and, as such, amounts included in the consolidated statements of income, comprehensive income (loss), cash flows and changes in equity are translated using average exchange rates during each period. Assets and liabilities are translated at period-end exchange rates and resulting foreign exchange translation adjustments are recorded in the consolidated balance sheets as a component of accumulated other comprehensive income (loss). | |||
        Foreign Currency Transactions—Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured into their respective functional currencies at exchange rates in effect at the balance sheet date. The resulting exchange gain or loss is included in Bunge's consolidated statements of income as foreign exchange gain (loss) unless the remeasurement gain or loss relates to an intercompany transaction that is of a long-term investment nature and for which settlement is not planned or anticipated in the foreseeable future. Gains or losses arising from translation of such transactions are reported as a component of accumulated other comprehensive income (loss) in Bunge's consolidated balance sheets. | |||
Cash and Cash Equivalents | ' | ||
Cash and Cash Equivalents—Cash and cash equivalents include time deposits and readily marketable securities with original maturity dates of three months or less at the time of acquisition. | |||
Trade Accounts Receivable and Secured Advances to Suppliers | ' | ||
Trade Accounts Receivable and Secured Advances to Suppliers—Accounts receivable and secured advances to suppliers are stated at their historical carrying amounts net of write-offs and allowances for uncollectible accounts. Bunge establishes an allowance for uncollectible trade accounts receivable and secured advances to farmers based on historical experience, farming economics and other market conditions as well as specific customer collection issues. Uncollectible accounts are written off when a settlement is reached for an amount below the outstanding historical balance or when Bunge has determined that collection is unlikely. | |||
        Secured advances to suppliers bear interest at contractual rates which reflect current market interest rates at the time of the transaction. There are no deferred fees or costs associated with these receivables. As a result, there are no imputed interest amounts to be amortized under the interest method. Interest income is calculated based on the terms of the individual agreements and is recognized on an accrual basis. | |||
        Bunge follows accounting guidance on the disclosure of the credit quality of financing receivables and the allowance for credit losses which requires information to be disclosed at disaggregated levels, defined as portfolio segments and classes. | |||
        Under this guidance, a class of receivables is considered impaired, based on current information and events, if Bunge determines it probable that all amounts due under the original terms of the receivable will not be collected. Recognition of interest income is suspended once the farmer defaults on the originally scheduled delivery of agricultural commodities as the collection of future income is determined not to be probable. No additional interest income is accrued from the point of default until ultimate recovery, at which time amounts collected are credited first against the receivable and then to any unrecognized interest income. | |||
Inventories | ' | ||
 Inventories—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. The majority of Bunge's readily marketable inventories are valued at fair value. These agricultural commodity inventories have quoted market prices in active markets, may be sold without significant further processing and have predictable and insignificant disposal costs. Changes in the fair values of merchandisable agricultural commodities inventories are recognized in earnings as a component of cost of goods sold. Also included in readily marketable inventories is sugar produced by our sugar mills in Brazil; these inventories are stated at the lower of average cost or market. | |||
        Inventories other than readily marketable inventories are stated at the lower of cost or market by inventory product class. Cost is determined using primarily the weighted-average cost method. | |||
Derivative Instruments and Hedging Activities | ' | ||
Derivative Instruments and Hedging Activities—Bunge enters into derivative instruments to manage its exposure to movements associated with agricultural commodity prices, transportation costs, foreign currency exchange rates, interest rates and energy costs. Bunge's use of these instruments is generally intended to mitigate the exposure to market variables (see Note 15). | |||
        Generally, derivative instruments are recorded at fair value in other current assets or other current liabilities in Bunge's consolidated balance sheets. Bunge assesses, both at the inception of a hedge and on an ongoing basis, whether any derivatives designated as hedges are highly effective in offsetting changes in the hedged items. The effective and ineffective portions of changes in fair values of derivative instruments designated as fair value hedges, along with the gains or losses on the related hedged items are recorded in earnings in the consolidated statements of income in the same caption as the hedged items. The effective portion of changes in fair values of derivative instruments that are designated as cash flow hedges are recorded in accumulated other comprehensive income (loss) and are reclassified to earnings when the hedged cash flows are realized or when the hedge is no longer considered to be effective. In addition, Bunge may designate certain derivative instruments as net investment hedges to hedge the exposure associated with its equity investments in foreign operations. The effective portions of changes in the fair values of net investment hedges, which are evaluated based on forward rates, are recorded in the foreign exchange translation adjustment component of accumulated other comprehensive income (loss) in the consolidated balance sheets and the ineffective portions of such derivative instruments are recorded in foreign exchange gains (losses) in the consolidated statements of income. | |||
Recoverable Taxes | ' | ||
Recoverable Taxes—Recoverable taxes include value-added taxes paid upon the acquisition of raw materials and taxable services and other transactional taxes which can be recovered in cash or as compensation against income taxes or other taxes owed by Bunge, primarily in Brazil. These recoverable tax payments are included in other current assets or other non-current assets based on their expected realization. In cases where Bunge determines that recovery is doubtful, recoverable taxes are reduced by allowances for the estimated unrecoverable amounts. | |||
Property, Plant and Equipment, Net | ' | ||
Property, Plant and Equipment, Net—Property, plant and equipment, net is stated at cost less accumulated depreciation and depletion. Major improvements that extend the life, capacity or efficiency or improve the safety of an asset are capitalized, while maintenance and repairs are expensed as incurred. Costs related to legal obligations associated with the future retirement of capitalized assets are capitalized as part of the cost of the related asset. Bunge generally capitalizes eligible costs to acquire or develop internal-use software that are incurred during the application development stage. Interest costs on borrowings during construction/completion periods of major capital projects are also capitalized. | |||
        Included in property, plant and equipment are biological assets, primarily sugarcane, that are stated at cost less accumulated depletion. Depletion is calculated using the estimated units of production based on the remaining useful life of the growing sugarcane. Depreciation is computed based on the straight line method over the estimated useful lives of the assets. | |||
        Useful lives for property, plant and equipment are as follows: | |||
Years | |||
Biological assets | 6-May | ||
Buildings | Oct-50 | ||
Machinery and equipment | 20-Jul | ||
Furniture, fixtures and other | 20-Mar | ||
Computer software | 10-Mar | ||
Goodwill | ' | ||
Goodwill—Goodwill represents the cost in excess of the fair value of net assets acquired in a business acquisition. Goodwill is not amortized but is tested annually for impairment or between annual tests if events or circumstances indicate potential impairment. Bunge's annual impairment testing is generally performed during the fourth quarter of its fiscal year. | |||
        Goodwill is tested for impairment at the reporting unit level. For the majority of Bunge's recorded goodwill, the reporting unit is equivalent to Bunge's reportable segments (see Note 8). | |||
Impairment of Property, Plant and Equipment and Finite-Lived Intangible Assets | ' | ||
Impairment of Property, Plant and Equipment and Finite-Lived Intangible Assets—Finite-lived intangible assets include primarily trademarks, customer lists and port facility usage rights and are amortized on a straight-line basis over their contractual or legal lives (see Note 9) or their estimated useful lives where such lives are not determined by law or contract. | |||
        Bunge reviews its property, plant and equipment and finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. Bunge bases its evaluation of recoverability on such indicators as the nature, future economic benefits and geographic locations of the assets, historical or future profitability measures and other external market conditions. If these indicators result in the expected non-recoverability of the carrying amount of an asset or asset group, Bunge evaluates potential impairment using undiscounted estimated future cash flows. If such undiscounted future cash flows during the asset's remaining useful life are below its carrying value, a loss is recognized for the shortfall, measured by the present value of the estimated future cash flows or by third-party appraisals. Bunge records impairments related to property, plant and equipment and finite-lived intangible assets used in the processing of its products in cost of goods sold in its consolidated statements of income. Any impairment of marketing or brand assets is recognized in selling, general and administrative expenses in the consolidated statements of income (see Note 10). | |||
        Property, plant and equipment and other finite-lived intangible assets to be sold or otherwise disposed of are reported at the lower of carrying amount or fair value less cost to sell. | |||
Impairment of Investments in Affiliates | ' | ||
Impairment of Investments in Affiliates—Bunge reviews its investments annually or when an event or circumstances indicate that a potential decline in value may be other than temporary. Bunge considers various factors in determining whether to recognize an impairment charge, including the length of time that the fair value of the investment is expected to be below its carrying value, the financial condition, operating performance and near-term prospects of the affiliate and Bunge's intent and ability to hold the investment for a period of time sufficient to allow for recovery of the fair value. Impairment charges for investments in affiliates are included as a charge within other income (expense)-net. | |||
Stock-Based Compensation | ' | ||
Stock-Based Compensation—Bunge maintains equity incentive plans for its employees and non-employee directors (see Note 26). Bunge accounts for stock-based compensation using the modified prospective transition method. Under the modified prospective transition method, compensation cost is recognized based on the grant date fair value. | |||
Income Taxes | ' | ||
Income Taxes—Income tax expenses and benefits are recognized based on the tax laws and regulations in the jurisdictions in which Bunge's subsidiaries operate. Under Bermuda law, Bunge is not required to pay taxes in Bermuda on either income or capital gains. The provision for income taxes includes income taxes currently payable and deferred income taxes arising as a result of temporary differences between the carrying amounts of existing assets and liabilities in Bunge's financial statements and their respective tax bases. Deferred tax assets are reduced by valuation allowances if it is determined that it is more likely than not that the deferred tax asset will not be realized. Accrued interest and penalties related to unrecognized tax benefits are recognized in income tax (expense) benefit in the consolidated statements of income. | |||
        The calculation of tax liabilities involves management's judgments concerning uncertainties in the application of complex tax regulations in the many jurisdictions in which Bunge operates and involves consideration of liabilities for potential tax audit issues in those many jurisdictions based on estimates of whether it is more likely than not those additional taxes will be due. Investment tax credits are recorded in income tax expense in the period in which such credits are granted. | |||
Revenue Recognition | ' | ||
Revenue Recognition—Sales of agricultural commodities, fertilizers and other products are recognized when persuasive evidence of an arrangement exists, the price is determinable, the product has been delivered, title to the product and risk of loss transfer to the customer, which is dependent on the agreed upon sales terms with the customer and when collection of the sale price is reasonably assured. Sales terms provide for passage of title either at the time and point of shipment or at the time and point of delivery of the product being sold. Net sales consist of gross sales less discounts related to promotional programs and sales taxes. Interest income on secured advances to suppliers is included in net sales due to its operational nature (see Note 6). Shipping and handling charges billed to customers are included in net sales and related costs are included in cost of goods sold. | |||
Research and Development | ' | ||
Research and Development—Research and development costs are expensed as incurred. Research and development expenses were $19 million, $19 million and $21 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||
Adoption of New Accounting Pronouncements | ' | ||
Adoption of New Accounting Pronouncements—In December 2011 and January 2013, Financial Accounting Standards Board (FASB) amended the guidance in ASC Topic 210, Balance Sheet. This amendment requires an entity to disclose both gross and net information about financial instruments that are eligible for offset in the statement of financial position and/or subject to a master netting arrangement or similar agreement. Bunge's derivative assets and liabilities subject to master netting arrangements are presented on a gross basis in its consolidated balance sheets. The adoption of this amendment on January 1, 2013 did not have a significant impact on Bunge's consolidated financial statements (see Note 24). | |||
        In February 2013, FASB amended the guidance in ASC Topic 220, Comprehensive Income. This amendment requires an entity to disclose on a prospective basis the impact on income statement line items for significant items reclassified from other comprehensive income to net income during the period. The adoption of this amendment expanded Bunge's disclosures in its consolidated financial statements (see Note 14). | |||
        New Accounting Pronouncements—In March 2013, FASB amended existing guidance of ASC Topic 830, Foreign Currency Matters (Topic 830). This amended guidance is related to the transfer of currency translation adjustments from other comprehensive income into net income in certain circumstances. The amended guidance aims to resolve diversity in practice as to whether ASC Topic 810, Consolidation or Topic 830 applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity, or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business. Bunge will be required to apply the amended guidance prospectively for fiscal years beginning after December 31, 2013. The adoption of this standard is not expected to have a material impact on Bunge's consolidated financial statements. | |||
        In July 2013, the FASB issued guidance in ASC Topic 740, (Topic 740) Income Taxes. Topic 740 provided guidance regarding the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exist at the reporting date. Bunge will be required to apply the amended guidance prospectively for fiscal years beginning after December 31, 2013. The adoption of this standard is not expected to have a material impact on Bunge's consolidated financial statements. | |||
Nature_of_Business_Basis_of_Pr2
Nature of Business, Basis of Presentation, and Significant Accounting Policies (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Nature of Business, Basis of Presentation, and Significant Accounting Policies | ' | ||
Useful lives for property, plant and equipment | ' | ||
Years | |||
Biological assets | 6-May | ||
Buildings | Oct-50 | ||
Machinery and equipment | 20-Jul | ||
Furniture, fixtures and other | 20-Mar | ||
Computer software | 10-Mar |
Discontinued_Operations_and_Bu1
Discontinued Operations and Business Divestitures (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Discontinued Operations and Business Divestitures | ' | ||||||||||
Summary of results of discontinued operations | ' | ||||||||||
Year Ended December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
Net sales | $ | 1,217 | $ | 2,503 | $ | 2,646 | |||||
Cost of goods sold | (1,138 | ) | (2,498 | ) | (2,545 | ) | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Gross profit | 79 | 5 | 101 | ||||||||
Selling, general and administrative expenses | (64 | ) | (143 | ) | (117 | ) | |||||
Interest income | 14 | 25 | 6 | ||||||||
Interest expense | (9 | ) | (23 | ) | (7 | ) | |||||
Foreign exchange gain (loss) | (7 | ) | 21 | (3 | ) | ||||||
Other income (expenses)—net | (12 | ) | (30 | ) | (16 | ) | |||||
Gain on sale of Brazilian fertilizer business | 148 | — | — | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income (loss) from discontinued operations before income tax | 149 | (145 | ) | (36 | ) | ||||||
Income tax (expense) benefit | (52 | ) | (197 | ) | 11 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income (loss) from discontinued operations, net of tax | $ | 97 | $ | (342 | ) | $ | (25 | ) | |||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Schedule of assets held for sale associated with discontinued operations | ' | ||||||||||
(US$ in millions) | December 31, | ||||||||||
2012 | |||||||||||
Assets: | |||||||||||
Cash and cash equivalents | $ | 2 | |||||||||
Trade accounts receivable (less allowance of $2) | 189 | ||||||||||
Inventories | 402 | ||||||||||
Other current assets | 67 | ||||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Current assets held for sale | $ | 660 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Property, plant and equipment, net | $ | 218 | |||||||||
Deferred income taxes | 40 | ||||||||||
Other non-current assets | (8 | ) | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Non-current assets held for sale | $ | 250 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Liabilities: | |||||||||||
Trade accounts payable | $ | 157 | |||||||||
Other current liabilities | 140 | ||||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Current liabilities held for sale | $ | 297 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Other non-current liabilities | $ | 13 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Non-current liabilities held for sale | $ | 13 | |||||||||
​ | ​ | ​ | ​ | ​ |
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventories | ' | |||||||
Inventories by segment | ' | |||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Agribusiness(1) | $ | 4,498 | $ | 5,240 | ||||
Sugar and Bioenergy(2) | 549 | 488 | ||||||
Edible Oil Products(3) | 487 | 617 | ||||||
Milling Products(4) | 210 | 184 | ||||||
Fertilizer(4)(5) | 52 | 61 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 5,796 | $ | 6,590 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||
Includes readily marketable agricultural commodity inventories carried at fair value of $4,163 million and $4,892 million at December 31, 2013 and 2012, respectively. Of these amounts $2,927 million and $3,442 million can be attributable to merchandising activities at December 31, 2013 and 2012, respectively. All other agribusiness segment inventories are carried at lower of cost or market. | ||||||||
-2 | ||||||||
Includes readily marketable sugar inventories of $182 million and $199 million at December 31, 2013 and 2012, respectively. Of these sugar inventories, $109 million and $144 million are carried at fair value at December 31, 2013 and 2012, respectively, in Bunge's trading and merchandising business. Sugar and ethanol inventories in Bunge's industrial production business are carried at lower of cost or market. | ||||||||
-3 | ||||||||
Edible oil products inventories are generally carried at lower of cost or market, with the exception of readily marketable inventories of bulk soybean and canola oil which are carried at fair value in the aggregate amount of $67 million and $215 million at December 31, 2013 and 2012, respectively. | ||||||||
-4 | ||||||||
Milling products and fertilizer inventories are carried at lower of cost or market. | ||||||||
-5 | ||||||||
Fertilizer inventories at December 31, 2012, exclude amounts classified as held for sale (see Note 3). | ||||||||
Other_Current_Assets_Tables
Other Current Assets (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Current Assets | ' | |||||||
Other current assets | ' | |||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Prepaid commodity purchase contracts(1) | $ | 220 | $ | 299 | ||||
Secured advances to suppliers, net(2) | 555 | 390 | ||||||
Unrealized gains on derivative contracts, at fair value | 1,561 | 1,230 | ||||||
Recoverable taxes, net | 442 | 465 | ||||||
Margin deposits(3) | 305 | 363 | ||||||
Marketable securities, at fair value | 162 | 105 | ||||||
Deferred purchase price receivable, at fair value(4) | 96 | 134 | ||||||
Prepaid expenses | 261 | 314 | ||||||
Other | 780 | 518 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 4,382 | $ | 3,818 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||
Prepaid commodity purchase contracts represent advance payments against fixed price contracts for future delivery of specified quantities of agricultural commodities. | ||||||||
-2 | ||||||||
Bunge provides cash advances to suppliers, primarily Brazilian farmers of soybeans and sugarcane, to finance a portion of the suppliers' production costs. 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. The secured advances to farmers are reported net of allowances of $20 million and $12 million at December 31, 2013 and 2012, respectively. Changes in the allowance for 2013 included an increase of $20 million for additional bad debt provisions and a reduction in the allowance for recoveries of $12 million. Changes in the allowance for 2012 included an increase of $17 million for additional bad debt provisions and a reduction in the allowance for recoveries and write-offs of $7 million and $1 million, respectively. | ||||||||
Interest earned on secured advances to suppliers of $32 million, $27 million and $25 million for the years ended December 31, 2013, 2012, and 2011, respectively, is included in net sales in the consolidated statements of income. | ||||||||
-3 | ||||||||
Margin deposits include U.S. treasury securities at fair value and cash. | ||||||||
-4 | ||||||||
Deferred purchase price receivable represents additional credit support for the investment conduits in Bunge's accounts receivables sales program (see Note 18). | ||||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment | ' | |||||||
Property, plant and equipment | ' | |||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Land | $ | 395 | $ | 353 | ||||
Biological assets | 501 | 480 | ||||||
Buildings | 2,071 | 1,886 | ||||||
Machinery and equipment | 5,135 | 4,938 | ||||||
Furniture, fixtures and other | 423 | 471 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
8,525 | 8,128 | |||||||
Less: accumulated depreciation and depletion | (3,591 | ) | (3,395 | ) | ||||
Plus: construction in progress | 1,141 | 1,155 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 6,075 | $ | 5,888 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Goodwill | ' | |||||||||||||||||||
Summary of changes in the carrying amount of goodwill by segment | ' | |||||||||||||||||||
(US$ in millions) | Agribusiness | Sugar and | Edible Oil | Milling | Fertilizer | Total | ||||||||||||||
Bioenergy | Products | Products | ||||||||||||||||||
Goodwill, gross | $ | 216 | $ | 560 | $ | 110 | $ | 9 | $ | 1 | $ | 896 | ||||||||
Accumulated impairment losses | — | — | — | (3 | ) | — | (3 | ) | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2011, net | 216 | 560 | 110 | 6 | 1 | 893 | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Goodwill acquired(1) | — | 7 | — | 45 | — | 52 | ||||||||||||||
Reallocation of acquired goodwill(2) | (1 | ) | — | (13 | ) | — | 1 | (13 | ) | |||||||||||
Impairment(4) | — | (514 | ) | — | — | — | (514 | ) | ||||||||||||
Tax benefit on goodwill amortization(3) | (6 | ) | — | — | — | — | (6 | ) | ||||||||||||
Foreign exchange translation | (12 | ) | (53 | ) | 4 | — | — | (61 | ) | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Goodwill, gross | 197 | 514 | 101 | 54 | 2 | 868 | ||||||||||||||
Accumulated impairment losses | — | (514 | ) | — | (3 | ) | — | (517 | ) | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2012, net | 197 | — | 101 | 51 | 2 | 351 | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Goodwill acquired(1) | — | — | — | 67 | — | 67 | ||||||||||||||
Tax benefit on goodwill amortization(3) | (5 | ) | — | — | — | — | (5 | ) | ||||||||||||
Foreign exchange translation | (18 | ) | — | (2 | ) | (1 | ) | — | (21 | ) | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Goodwill, gross | 174 | 514 | 99 | 120 | 2 | 909 | ||||||||||||||
Accumulated impairment losses | — | (514 | ) | — | (3 | ) | — | (517 | ) | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2013, net | $ | 174 | $ | — | $ | 99 | $ | 117 | $ | 2 | $ | 392 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||||||||||||||
See Note 2. | ||||||||||||||||||||
-2 | ||||||||||||||||||||
Beginning in the first quarter of 2012, the management responsibilities for certain Brazilian port facilities were moved from the agribusiness segment to the fertilizer segment. Accordingly, $1Â million of goodwill attributable to these port facilities was reclassified to conform to the 2012 segment presentation. | ||||||||||||||||||||
Upon finalization of the purchase price allocation in 2012 for Bunge's acquisition of a tomato products business, finite-lived intangibles were increased by $14Â million, inventories were reduced by $6Â million, deferred tax liabilities were reduced by $5Â million and goodwill was reduced by $13Â million. | ||||||||||||||||||||
-3 | ||||||||||||||||||||
Bunge's Brazilian subsidiary's tax deductible goodwill is in excess of its book goodwill. For financial reporting purposes for goodwill acquired prior to 2009, the tax benefits attributable to the excess tax goodwill are first used to reduce associated goodwill and then other intangible assets to zero, prior to recognizing any income tax benefit in the consolidated statements of income. | ||||||||||||||||||||
-4 | ||||||||||||||||||||
See Note 10. | ||||||||||||||||||||
Other_Intangible_Assets_Tables
Other Intangible Assets (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Intangible Assets | ' | |||||||
Other intangible assets | ' | |||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Trademarks/brands, finite-lived | $ | 210 | $ | 214 | ||||
Licenses | 12 | 11 | ||||||
Other | 286 | 212 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
508 | 437 | |||||||
Less accumulated amortization: | ||||||||
Trademarks/brands(1) | (63 | ) | (59 | ) | ||||
Licenses | (5 | ) | (4 | ) | ||||
Other | (114 | ) | (79 | ) | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
(182 | ) | (142 | ) | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Intangible assets, net of accumulated amortization | $ | 326 | $ | 295 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||
Bunge's Brazilian subsidiary's tax deductible goodwill in the agribusiness segment is in excess of its book goodwill. For financial reporting purposes, for other intangible assets acquired prior to 2009, before 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. | ||||||||
Impairments_Tables
Impairments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Impairments | ' | ||||||||||||||||
Assets measured at fair value on a nonrecurring basis | ' | ||||||||||||||||
Fair Value | |||||||||||||||||
Year Ended | Measurements Using | Impairment Losses | |||||||||||||||
December 31, 2013 | Year ended | ||||||||||||||||
(US$ in millions) | Level 1 | Level 2 | Level 3 | December 31, 2013 | |||||||||||||
Non-current assets held for sale | $ | 1 | $ | — | $ | — | $ | 1 | $ | (2 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Affiliate loans | $ | 4 | $ | — | $ | — | $ | 4 | $ | (3 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Investment in affiliates | $ | — | $ | — | $ | — | $ | — | $ | (2 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Property, plant and equipment | $ | 4 | $ | — | $ | — | $ | 4 | $ | (22 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Fair Value | |||||||||||||||||
Year Ended | Measurements Using | Impairment Losses | |||||||||||||||
December 31, 2012 | Year ended | ||||||||||||||||
(US$ in millions) | Level 1 | Level 2 | Level 3 | December 31, 2012 | |||||||||||||
Affiliate loans | $ | 15 | $ | — | $ | — | $ | 15 | $ | (30 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Investment in affiliates | $ | 31 | $ | — | $ | — | $ | 31 | $ | (19 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Goodwill (see Note 8) | $ | — | $ | — | $ | — | $ | — | $ | (514 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Other_NonCurrent_Assets_Tables
Other Non-Current Assets (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Other Non-Current Assets | ' | |||||||||||||
Schedule of other non-current assets | ' | |||||||||||||
December 31, | ||||||||||||||
(US$ in millions) | 2013 | 2012 | ||||||||||||
Recoverable taxes, net(1) | $ | 283 | $ | 309 | ||||||||||
Long-term receivables from farmers in Brazil, net(1) | 134 | 164 | ||||||||||||
Judicial deposits(1) | 153 | 169 | ||||||||||||
Other long-term receivables | 40 | 60 | ||||||||||||
Income taxes receivable(1) | 304 | 431 | ||||||||||||
Long-term investments | 296 | 414 | ||||||||||||
Affiliate loan receivable, net | 25 | 59 | ||||||||||||
Other | 130 | 140 | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Total | $ | 1,365 | $ | 1,746 | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
-1 | ||||||||||||||
These non-current assets arise primarily from our Brazilian operations and their realization could take in excess of five years. | ||||||||||||||
Long-term receivables from Brazilian farmers | ' | |||||||||||||
December 31, | ||||||||||||||
(US$ in millions) | 2013 | 2012 | ||||||||||||
Legal collection process(1) | $ | 213 | $ | 269 | ||||||||||
Renegotiated amounts(2) | 117 | 119 | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Total | $ | 330 | $ | 388 | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
-1 | ||||||||||||||
All amounts in legal process are considered past due upon initiation of legal action. | ||||||||||||||
-2 | ||||||||||||||
All renegotiated amounts are current on repayment terms. | ||||||||||||||
Summary of recorded investment in long-term receivables and the related allowance amounts from Brazilian farmers | ' | |||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||
(US$ in millions) | Recorded | Allowance | Recorded | Allowance | ||||||||||
Investment | Investment | |||||||||||||
For which an allowance has been provided: | ||||||||||||||
Legal collection process | $ | 139 | $ | 132 | $ | 178 | $ | 165 | ||||||
Renegotiated amounts | 84 | 64 | 67 | 59 | ||||||||||
For which no allowance has been provided: | ||||||||||||||
Legal collection process | 74 | — | 91 | — | ||||||||||
Renegotiated amounts | 33 | — | 52 | — | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 330 | $ | 196 | $ | 388 | $ | 224 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Summary of the activity in the allowance for doubtful accounts related to long-term receivables from Brazilian farmers | ' | |||||||||||||
December 31, | ||||||||||||||
(US$ in millions) | 2013 | 2012 | ||||||||||||
Beginning balance | $ | 224 | $ | 199 | ||||||||||
Bad debt provision | 23 | 92 | ||||||||||||
Recoveries | (24 | ) | (19 | ) | ||||||||||
Write-offs | (3 | ) | (29 | ) | ||||||||||
Transfers(1) | 5 | (1 | ) | |||||||||||
Foreign exchange translation | (29 | ) | (18 | ) | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Ending balance | $ | 196 | $ | 224 | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
-1 | ||||||||||||||
Represents reclassifications from allowance for doubtful accounts-current for secured advances to suppliers. | ||||||||||||||
Other_Current_Liabilities_Tabl
Other Current Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Current Liabilities | ' | |||||||
Other current liabilities | ' | |||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Accrued liabilities | $ | 940 | $ | 968 | ||||
Unrealized losses on derivative contracts, at fair value | 1,401 | 1,185 | ||||||
Advances on sales | 330 | 223 | ||||||
Other | 347 | 118 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 3,018 | $ | 2,494 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Income Taxes | ' | ||||||||||
Components of income from continuing operations before income tax | ' | ||||||||||
Year Ended December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
United States | $ | 179 | $ | 215 | $ | 77 | |||||
Non-United States | 835 | 157 | 943 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 1,014 | $ | 372 | $ | 1,020 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Components of income tax (expense) benefit | ' | ||||||||||
Year Ended December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
Current:(1) | |||||||||||
United States | $ | (33 | ) | $ | (87 | ) | $ | (12 | ) | ||
Non-United States | (411 | ) | (128 | ) | (238 | ) | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
(444 | ) | (215 | ) | (250 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Deferred: | |||||||||||
United States | (18 | ) | 22 | (29 | ) | ||||||
Non-United States | (442 | ) | 199 | 224 | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
(460 | ) | 221 | 195 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | (904 | ) | $ | 6 | $ | (55 | ) | |||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | |||||||||||
Included in current income tax expense are $32Â million, $7Â million, and $19Â million related to uncertain tax benefits, respectively. | |||||||||||
Reconciliation of income tax (expense) benefit | ' | ||||||||||
Year Ended December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
Income from operations before income tax | $ | 1,014 | $ | 372 | $ | 1,020 | |||||
Income tax rate | 35 | % | 35 | % | 35 | % | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income tax expense at the U.S. Federal tax rate | (355 | ) | (130 | ) | (357 | ) | |||||
Adjustments to derive effective tax rate: | |||||||||||
Foreign earnings taxed at different statutory rates | 30 | 47 | 342 | ||||||||
Valuation allowances | (642 | ) | (1 | ) | 7 | ||||||
Goodwill amortization | 1 | 29 | 43 | ||||||||
Fiscal incentives(1) | 48 | 51 | 46 | ||||||||
Foreign exchange on monetary items | (13 | ) | (12 | ) | 1 | ||||||
Tax rate changes | (5 | ) | 23 | (4 | ) | ||||||
Non-deductible expenses | (44 | ) | (6 | ) | (3 | ) | |||||
Uncertain tax positions | (32 | ) | 4 | (18 | ) | ||||||
Deferred balance adjustments | (52 | ) | (56 | ) | — | ||||||
Foreign income taxed in Brazil | 136 | 46 | (108 | ) | |||||||
Other | 24 | 11 | (4 | ) | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income tax benefit (expense) | $ | (904 | ) | $ | 6 | $ | (55 | ) | |||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | |||||||||||
Fiscal incentives predominantly relate to investment incentives in Brazil that are exempt from Brazilian income tax. | |||||||||||
Components of deferred tax assets and liabilities and related valuation allowances | ' | ||||||||||
December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | |||||||||
Deferred income tax assets: | |||||||||||
Net operating loss carryforwards | $ | 1,120 | $ | 959 | |||||||
Property, plant and equipment | 90 | 49 | |||||||||
Employee benefits | 68 | 90 | |||||||||
Tax credit carryforwards | 10 | 7 | |||||||||
Inventories | 49 | 17 | |||||||||
Intangibles | 263 | 258 | |||||||||
Accrued expenses and other | 791 | 589 | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Total deferred income tax assets | 2,391 | 1,969 | |||||||||
Less valuation allowances | (1,048 | ) | (455 | ) | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Deferred income tax assets, net of valuation allowance | 1,343 | 1,514 | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Deferred income tax liabilities: | |||||||||||
Property, plant and equipment | 277 | 84 | |||||||||
Undistributed earnings of affiliates not considered permanently reinvested | 22 | 26 | |||||||||
Intangibles | 115 | 65 | |||||||||
Investments | 97 | 127 | |||||||||
Inventories | 70 | 60 | |||||||||
Accrued expenses and other | 260 | 1 | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Total deferred income tax liabilities | 841 | 363 | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Net deferred income tax assets | $ | 502 | $ | 1,151 | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Reconciliation of unrecognized tax benefits | ' | ||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
Balance at January 1, | $ | 104 | $ | 113 | $ | 102 | |||||
Additions based on tax positions related to the current year(1) | 22 | 11 | 9 | ||||||||
Additions based on tax positions related to prior years | 48 | 8 | 14 | ||||||||
Reductions for tax positions of prior years | (1 | ) | (2 | ) | — | ||||||
Settlement or clarification from tax authorities | — | (3 | ) | (4 | ) | ||||||
Expiration of statute of limitations | (21 | ) | (22 | ) | (2 | ) | |||||
Foreign currency translation | (1 | ) | (1 | ) | (6 | ) | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance at December 31, | $ | 151 | $ | 104 | $ | 113 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | |||||||||||
Included in 2013 is $17Â million related to business acquisitions completed during the year. | |||||||||||
Tax years subject to income tax examination by tax authorities | ' | ||||||||||
Open Tax Years | |||||||||||
North America | 2006 - 2013 | ||||||||||
South America | 2005 - 2013 | ||||||||||
Europe | 2005 - 2013 | ||||||||||
Asia | 2003 - 2013 |
Financial_Instruments_and_Fair1
Financial Instruments and Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Financial Instruments and Fair Value Measurements | ' | |||||||||||||||||||||||||
Schedule of assets and liabilities accounted for at fair value on a recurring basis | ' | |||||||||||||||||||||||||
Fair Value Measurements at Reporting Date | ||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||
(US$ in millions) | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||
Assets: | ||||||||||||||||||||||||||
Readily marketable inventories (Note 5) | $ | — | $ | 4,041 | $ | 298 | $ | 4,339 | $ | — | $ | 4,815 | $ | 436 | $ | 5,251 | ||||||||||
Trade accounts receivable(1) | 5 | 1 | 6 | — | 3 | — | 3 | |||||||||||||||||||
Unrealized gain on designated | ||||||||||||||||||||||||||
derivative contracts(2): | ||||||||||||||||||||||||||
Foreign exchange | — | 7 | — | 7 | — | 1 | — | 1 | ||||||||||||||||||
Unrealized gain on undesignated derivative contracts(2): | ||||||||||||||||||||||||||
Foreign exchange | 5 | 346 | — | 351 | — | 194 | — | 194 | ||||||||||||||||||
Commodities | 408 | 585 | 138 | 1,131 | 61 | 697 | 264 | 1,022 | ||||||||||||||||||
Freight | 59 | — | — | 59 | — | — | 1 | 1 | ||||||||||||||||||
Energy | 11 | — | 2 | 13 | 9 | 2 | 1 | 12 | ||||||||||||||||||
Deferred purchase price receivable (Note 18) | — | 96 | — | 96 | — | 134 | — | 134 | ||||||||||||||||||
Other(3) | 59 | 22 | — | 81 | 234 | 32 | — | 266 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total assets | $ | 542 | $ | 5,102 | $ | 439 | $ | 6,083 | $ | 304 | $ | 5,878 | $ | 702 | $ | 6,884 | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Liabilities: | ||||||||||||||||||||||||||
Trade accounts payable(1) | $ | — | $ | 381 | $ | 76 | $ | 457 | $ | — | $ | 378 | $ | 40 | $ | 418 | ||||||||||
Unrealized loss on designated derivative contracts(4): | ||||||||||||||||||||||||||
Foreign exchange | — | 11 | — | 11 | — | — | — | — | ||||||||||||||||||
Unrealized loss on undesignated derivative contracts(4): | ||||||||||||||||||||||||||
Foreign exchange | 5 | 373 | — | 378 | 1 | 119 | — | 120 | ||||||||||||||||||
Commodities | 361 | 439 | 89 | 889 | 153 | 667 | 180 | 1,000 | ||||||||||||||||||
Freight | 81 | — | 14 | 95 | 3 | — | — | 3 | ||||||||||||||||||
Energy | 11 | — | 17 | 28 | 42 | — | 20 | 62 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total liabilities | $ | 458 | $ | 1,204 | $ | 196 | $ | 1,858 | $ | 199 | $ | 1,164 | $ | 240 | $ | 1,603 | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||||||||||||||||||||
Trade accounts receivable and payable are generally accounted for at amortized cost, with the exception of $6 million and $457 million, at December 31, 2013 and $3 million and $418 million at December, 31, 2012, respectively, related to certain delivered inventory for which the receivable and payable, respectively, fluctuate based on changes in commodity prices. These receivables and payables are hybrid financial instruments for which Bunge has elected the fair value option. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Unrealized gains on designated and undesignated derivative contracts are generally included in other current assets. There are no such amounts included in other non-current assets at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||
Other includes the fair values of marketable securities. | ||||||||||||||||||||||||||
-4 | ||||||||||||||||||||||||||
Unrealized losses on designated and undesignated derivative contracts are generally included in other current liabilities. There are no such amounts included in other non-current liabilities at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||
Reconciliation of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) | ' | |||||||||||||||||||||||||
Level 3 Instruments | ||||||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||||
(US$ in millions) | Derivatives, | Readily | Trade Accounts | Total | ||||||||||||||||||||||
Net(1) | Marketable | Receivable/ | ||||||||||||||||||||||||
Inventories | Payable, Net(2) | |||||||||||||||||||||||||
Balance, January 1, 2013 | $ | 66 | $ | 436 | $ | (40 | ) | $ | 462 | |||||||||||||||||
Total gains and losses (realized/unrealized) included in cost of goods sold | 49 | (182 | ) | — | (133 | ) | ||||||||||||||||||||
Purchases | (1 | ) | 1,845 | — | 1,844 | |||||||||||||||||||||
Sales | 1 | (2,245 | ) | 1 | (2,243 | ) | ||||||||||||||||||||
Issuances | (10 | ) | — | (115 | ) | (125 | ) | |||||||||||||||||||
Settlements | (228 | ) | — | 79 | (149 | ) | ||||||||||||||||||||
Transfers into Level 3 | 152 | 760 | — | 912 | ||||||||||||||||||||||
Transfers out of Level 3 | (9 | ) | (316 | ) | — | (325 | ) | |||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Balance, December 31, 2013 | $ | 20 | $ | 298 | $ | (75 | ) | $ | 243 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
-1 | ||||||||||||||||||||||||||
Derivatives, net, include Level 3 derivative assets and liabilities. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Trade Accounts Receivable and Trade Accounts Payable, net, include Level 3 inventory related receivables and payables. | ||||||||||||||||||||||||||
Level 3 Instruments | ||||||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||||
(US$ in millions) | Derivatives, | Readily | Trade Accounts | Total | ||||||||||||||||||||||
Net(1) | Marketable | Receivable/ | ||||||||||||||||||||||||
Inventories | Payable, Net(2) | |||||||||||||||||||||||||
Balance, January 1, 2012 | $ | (2 | ) | $ | 283 | $ | — | $ | 281 | |||||||||||||||||
Total gains and losses (realized/unrealized) included in cost of goods sold | 199 | (320 | ) | — | (121 | ) | ||||||||||||||||||||
Purchases | 3 | 1,659 | — | 1,662 | ||||||||||||||||||||||
Sales | 3 | (2,282 | ) | — | (2,279 | ) | ||||||||||||||||||||
Issuances | (4 | ) | — | (110 | ) | (114 | ) | |||||||||||||||||||
Settlements | (191 | ) | — | 70 | (121 | ) | ||||||||||||||||||||
Transfers into Level 3 | 16 | 1,418 | — | 1,434 | ||||||||||||||||||||||
Transfers out of Level 3 | 42 | (322 | ) | — | (280 | ) | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Balance, December 31, 2012 | $ | 66 | $ | 436 | $ | (40 | ) | $ | 462 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
-1 | ||||||||||||||||||||||||||
Derivatives, net include Level 3 derivative assets and liabilities. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Trade Accounts Receivable and Trade Accounts Payable, net, include Level 3 inventory related receivables and payables. | ||||||||||||||||||||||||||
Summary of changes in unrealized gains or (losses) recorded in earnings for Level 3 assets and liabilities | ' | |||||||||||||||||||||||||
Level 3 Instruments | ||||||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||||
(US$ in millions) | Derivatives, | Readily | Trade Accounts | Total | ||||||||||||||||||||||
Net(1) | Marketable | Receivable and | ||||||||||||||||||||||||
Inventories | Payable, Net(2) | |||||||||||||||||||||||||
Changes in unrealized gains and (losses) relating to assets and liabilities held at December 31, 2013: | ||||||||||||||||||||||||||
Cost of goods sold | $ | 135 | $ | 101 | $ | (39 | ) | $ | 197 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Changes in unrealized gains and (losses) relating to assets and liabilities held at December 31, 2012: | ||||||||||||||||||||||||||
Cost of goods sold | $ | 59 | $ | 202 | $ | (18 | ) | $ | 243 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
-1 | ||||||||||||||||||||||||||
Derivatives, net include Level 3 derivative assets and liabilities. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Trade Accounts Receivable and Trade Accounts Payable, Net, include Level 3 inventory related receivables and payables. | ||||||||||||||||||||||||||
Summary of effect of derivative instruments designated as fair value hedges and undesignated derivative instruments on consolidated statements of income | ' | |||||||||||||||||||||||||
Gain or (Loss) Recognized in Income on Derivative | ||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||
(US$ in millions) | Location | 2013 | 2012 | |||||||||||||||||||||||
Undesignated Derivative Contracts | ||||||||||||||||||||||||||
Interest Rate | Other income (expenses)—net | $ | (7 | ) | $ | 1 | ||||||||||||||||||||
Foreign Exchange | Foreign exchange gains (losses) | (229 | ) | (135 | ) | |||||||||||||||||||||
Foreign Exchange | Income (loss) from discontinued operations, net of tax | — | 8 | |||||||||||||||||||||||
Foreign Exchange | Cost of goods sold | (165 | ) | (7 | ) | |||||||||||||||||||||
Commodities | Cost of goods sold | 651 | (561 | ) | ||||||||||||||||||||||
Freight | Cost of goods sold | (20 | ) | (1 | ) | |||||||||||||||||||||
Energy | Cost of goods sold | — | (6 | ) | ||||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||||||
Total | $ | 230 | $ | (701 | ) | |||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||||||
Summary of effect of derivative instruments designated as cash flow and net investment hedges | ' | |||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Gain or (Loss) Reclassified | Gain or (Loss) Recognized | |||||||||||||||||||||||||
from Accumulated OCI | in Income on Derivatives | |||||||||||||||||||||||||
Notional | Gain or (Loss) | into Income(1) | ||||||||||||||||||||||||
Amount | Recognized in | |||||||||||||||||||||||||
(US$ in millions) | Accumulated OCI(1) | Location | Amount | Location | Amount(2) | |||||||||||||||||||||
Cash Flow Hedge: | ||||||||||||||||||||||||||
Foreign Exchange(3) | $ | 344 | $ | (22 | ) | Foreign exchange gains (losses) | $ | (12 | ) | Foreign exchange gains (losses) | $ | — | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
Total | $ | 344 | $ | (22 | ) | $ | (12 | ) | $ | — | ||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
Net Investment Hedge(3): | ||||||||||||||||||||||||||
Foreign Exchange | $ | 560 | $ | 22 | Foreign exchange gains (losses) | $ | — | Foreign exchange gains (losses) | $ | — | ||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
Total | $ | 560 | $ | 22 | $ | — | $ | — | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
-1 | ||||||||||||||||||||||||||
The gain (loss) recognized relates to the effective portion of the hedging relationship. At December 31, 2013, Bunge expects to reclassify into income in the next 12 months $(22) million and zero after-tax gain (loss) related to its foreign exchange cash flow and net investment hedges respectively. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
There was no gain or loss recognized in income relating to the ineffective portion of the hedging relationships or relating to amounts excluded from the assessment of hedge effectiveness. | ||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||
The foreign exchange contracts mature at various dates in 2014. | ||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||
Gain or (Loss) Reclassified | Gain or (Loss) Recognized | |||||||||||||||||||||||||
Gain or (Loss) | from Accumulated OCI into | in Income on Derivatives | ||||||||||||||||||||||||
Recognized in | Income(1) | |||||||||||||||||||||||||
Notional | Accumulated | |||||||||||||||||||||||||
(US$ in millions) | Amount | OCI(1) | Location | Amount | Location | Amount(2) | ||||||||||||||||||||
Cash Flow Hedge: | ||||||||||||||||||||||||||
Foreign Exchange(3) | $ | 190 | $ | 5 | Foreign exchange | Foreign exchange | ||||||||||||||||||||
gains (losses) | $ | (6 | ) | gains (losses) | $ | — | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
Total | $ | 190 | $ | 5 | $ | (6 | ) | $ | — | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||
-1 | ||||||||||||||||||||||||||
The gain or (loss) recognized relates to the effective portion of the hedging relationship. At December 31, 2012, Bunge expected to reclassify into income in the next 12 months $5 million after-tax losses related to its foreign exchange cash flow hedges. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
There was no gain or loss recognized in income relating to the ineffective portion of the hedging relationships or relating to amounts excluded from the assessment of hedge effectiveness. | ||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||
The foreign exchange forward contracts mature at various dates in 2013. | ||||||||||||||||||||||||||
Foreign Exchange Derivatives | ' | |||||||||||||||||||||||||
Derivative Instruments | ' | |||||||||||||||||||||||||
Summary of outstanding derivative instruments | ' | |||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Exchange | ||||||||||||||||||||||||||
Traded | Non-exchange | |||||||||||||||||||||||||
Net (Short)Â & | Traded | Unit of | ||||||||||||||||||||||||
(US$ in millions) | Long(1) | (Short)(2) | Long(2) | Measure | ||||||||||||||||||||||
Foreign Exchange | ||||||||||||||||||||||||||
Options | $ | (26 | ) | $ | (2 | ) | $ | 2 | Delta | |||||||||||||||||
Forwards | 3 | (15,951 | ) | 20,719 | Notional | |||||||||||||||||||||
Swaps | — | (129 | ) | 121 | Notional | |||||||||||||||||||||
-1 | ||||||||||||||||||||||||||
Exchange traded futures and options are presented on a net (short) and long position basis. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Non-exchange traded swaps, options and forwards are presented on a gross (short) and long position basis. | ||||||||||||||||||||||||||
Agricultural Commodity Derivatives | ' | |||||||||||||||||||||||||
Derivative Instruments | ' | |||||||||||||||||||||||||
Summary of outstanding derivative instruments | ' | |||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Exchange | ||||||||||||||||||||||||||
Traded | Non-exchange | |||||||||||||||||||||||||
Net (Short)Â & | Traded | Unit of | ||||||||||||||||||||||||
Long(1) | (Short)(2) | Long(2) | Measure | |||||||||||||||||||||||
Agricultural Commodities | ||||||||||||||||||||||||||
Futures | (7,517,109 | ) | — | — | Metric Tons | |||||||||||||||||||||
Options | (333,796 | ) | — | — | Metric Tons | |||||||||||||||||||||
Forwards | — | (33,142,299 | ) | 27,823,848 | Metric Tons | |||||||||||||||||||||
Swaps | — | (486,211 | ) | 39,735 | Metric Tons | |||||||||||||||||||||
-1 | ||||||||||||||||||||||||||
Exchange traded futures and options are presented on a net (short) and long position basis. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Non-exchange traded swaps, options and forwards are presented on a gross (short) and long position basis. | ||||||||||||||||||||||||||
Ocean Freight Derivatives | ' | |||||||||||||||||||||||||
Derivative Instruments | ' | |||||||||||||||||||||||||
Summary of outstanding derivative instruments | ' | |||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Exchange | ||||||||||||||||||||||||||
Cleared | Non-exchange | |||||||||||||||||||||||||
Net (Short)Â & | Cleared | Unit of | ||||||||||||||||||||||||
Long(1) | (Short)(2) | Long(2) | Measure | |||||||||||||||||||||||
Ocean Freight | ||||||||||||||||||||||||||
FFA | (7,660 | ) | — | — | Hire Days | |||||||||||||||||||||
FFA Options | (2,082 | ) | — | — | Hire Days | |||||||||||||||||||||
-1 | ||||||||||||||||||||||||||
Exchange cleared futures and options are presented on a net (short) and long position basis. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Non-exchange cleared options and forwards are presented on a gross (short) and long position basis. | ||||||||||||||||||||||||||
Energy Derivatives | ' | |||||||||||||||||||||||||
Derivative Instruments | ' | |||||||||||||||||||||||||
Summary of outstanding derivative instruments | ' | |||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Exchange Traded | ||||||||||||||||||||||||||
Non-exchange Cleared | ||||||||||||||||||||||||||
Net (Short)Â & | Unit of | |||||||||||||||||||||||||
Long(1) | (Short)(2) | Long(2) | Measure | |||||||||||||||||||||||
Natural Gas(3) | ||||||||||||||||||||||||||
Futures | 4,096,009 | — | — | MMBtus | ||||||||||||||||||||||
Swaps | — | — | 687,204 | MMBtus | ||||||||||||||||||||||
Options | (6,015,361 | ) | — | — | MMBtus | |||||||||||||||||||||
Energy—Other | ||||||||||||||||||||||||||
Futures | 2,417,741 | — | — | Metric Tons | ||||||||||||||||||||||
Forwards | — | (47,055 | ) | 38,239,063 | Metric Tons | |||||||||||||||||||||
Swaps | 275,000 | — | — | Metric Tons | ||||||||||||||||||||||
Options | (318 | ) | — | — | Metric Tons | |||||||||||||||||||||
-1 | ||||||||||||||||||||||||||
Exchange traded futures and options are presented on a net (short) and long position basis. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
Non-exchange cleared swaps, options and forwards are presented on a gross (short) and long position basis. | ||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||
Million British Thermal Units (MMBtus) are the standard unit of measurement used to denote the amount of natural gas. | ||||||||||||||||||||||||||
ShortTerm_Debt_and_Credit_Faci1
Short-Term Debt and Credit Facilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Short-Term Debt and Credit Facilities | ' | |||||||
Short-term debt | ' | |||||||
December 31, | ||||||||
(US$ in millions) | 2013 | 2012 | ||||||
Lines of credit: | ||||||||
Unsecured, variable interest rates from 0.37% to 30.00%(1) | $ | 703 | $ | 1,598 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total short-term debt | $ | 703 | $ | 1,598 | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||
Includes $285 million of local currency borrowings in certain Eastern European, South American and Asian countries at a weighted-average interest rate of 14.91% as of December 31, 2013 and $378 million at a weighted-average interest rate of 18.78% as of December 31, 2012. | ||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Long-Term Debt. | ' | |||||||||||||||||||
Long-term debt | ' | |||||||||||||||||||
December 31, | ||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | ||||||||||||||||||
Revolving credit facilities(1) | $ | 400 | $ | — | ||||||||||||||||
Term loan due 2013—fixed interest rate of 3.32% (Tranche A) | — | 300 | ||||||||||||||||||
Term loan due 2013—variable interest rate of LIBOR plus 1.38% (Tranche B) | — | 100 | ||||||||||||||||||
5.875% Senior Notes due 2013 | — | 300 | ||||||||||||||||||
5.35% Senior Notes due 2014 | 500 | 500 | ||||||||||||||||||
5.10% Senior Notes due 2015 | 382 | 382 | ||||||||||||||||||
4.10% Senior Notes due 2016 | 500 | 500 | ||||||||||||||||||
3.20% Senior Notes due 2017 | 600 | 600 | ||||||||||||||||||
5.90% Senior Notes due 2017 | 250 | 250 | ||||||||||||||||||
8.50% Senior Notes due 2019 | 600 | 600 | ||||||||||||||||||
BNDES loans, variable interest rate indexed to TJLP plus 3.20% payable through 2016(2)(3) | 27 | 42 | ||||||||||||||||||
Other | 348 | 323 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Subtotal | 3,607 | 3,897 | ||||||||||||||||||
Less: Current portion of long-term debt | (762 | ) | (719 | ) | ||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Total long-term debt excluding investment fund debt | 2,845 | 3,178 | ||||||||||||||||||
Consolidated non-recourse investment fund debt(4) | 334 | 354 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Total long-term debt | $ | 3,179 | $ | 3,532 | ||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
-1 | ||||||||||||||||||||
In June and November of 2013, we entered into unsecured bilateral three-year revolving credit agreements totaling $700Â million with certain lenders, maturing in 2016. | ||||||||||||||||||||
-2 | ||||||||||||||||||||
Industrial development loans provided by BNDES, an agency of the Brazilian government. | ||||||||||||||||||||
-3 | ||||||||||||||||||||
TJLP is a long-term interest rate published by the BNDES on a quarterly basis; TJLP was 5.00% per annum at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||
-4 | ||||||||||||||||||||
Consolidated investment fund debt matures at various dates through 2019 with no recourse to Bunge. Bunge elected to account for $257 million and $259 million at fair value as of December 31, 2013 and 2012, respectively, and the remaining is accounted for at amortized cost. | ||||||||||||||||||||
Schedule of carrying amounts and fair values of long-term debt | ' | |||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
(US$ in millions) | Carrying | Fair Value | Fair Value | Carrying | Fair Value | Fair Value | ||||||||||||||
Value | (Level 2) | (Level 3) | Value | (Level 2) | (Level 3) | |||||||||||||||
Long-term debt including current portion | $ | 3,941 | $ | 3,917 | $ | 257 | $ | 4,251 | $ | 4,322 | $ | 259 | ||||||||
Principal maturities of long-term debt | ' | |||||||||||||||||||
Principal Maturities—Principal maturities of long-term debt at December 31, 2013 are as follows: | ||||||||||||||||||||
(US$ in millions) | ||||||||||||||||||||
2014 | $ | 760 | ||||||||||||||||||
2015 | 523 | |||||||||||||||||||
2016 | 921 | |||||||||||||||||||
2017 | 859 | |||||||||||||||||||
2018 | 11 | |||||||||||||||||||
Thereafter | 842 | |||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ||||||||||||||||
Total(1) | $ | 3,916 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ||||||||||||||||
​ | ​ | ​ | ​ | ​ | ||||||||||||||||
-1 | ||||||||||||||||||||
Excludes unamortized net gains of $25Â million related to terminated interest rate swap agreements recorded in long-term portion of debt. | ||||||||||||||||||||
Pension_Plans_Tables
Pension Plans (Tables) (U.S. and foreign pension plans, defined benefit) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
U.S. and foreign pension plans, defined benefit | ' | |||||||||||||||||||||||||
Pension Plans | ' | |||||||||||||||||||||||||
Changes in the plans' benefit obligations, assets and funded status of plans recognized in the balance sheet | ' | |||||||||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||||||||
Pension | Pension | |||||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Change in benefit obligations: | ||||||||||||||||||||||||||
Benefit obligation at the beginning of year | $ | 607 | $ | 513 | $ | 163 | $ | 143 | ||||||||||||||||||
Plan amendments | — | 2 | — | — | ||||||||||||||||||||||
Service cost | 21 | 18 | 9 | 8 | ||||||||||||||||||||||
Interest cost | 25 | 25 | 5 | 6 | ||||||||||||||||||||||
Plan curtailments | (2 | ) | — | — | — | |||||||||||||||||||||
Actuarial (gain) loss, net | (65 | ) | 70 | (5 | ) | 15 | ||||||||||||||||||||
Employee contributions | — | — | 3 | 3 | ||||||||||||||||||||||
Net transfers in (out) | — | — | 4 | — | ||||||||||||||||||||||
Plan settlements | 3 | (3 | ) | (9 | ) | (14 | ) | |||||||||||||||||||
Effect of plan combinations | — | — | 6 | — | ||||||||||||||||||||||
Benefits paid | (19 | ) | (17 | ) | 3 | (1 | ) | |||||||||||||||||||
Expenses paid | (1 | ) | (1 | ) | (2 | ) | — | |||||||||||||||||||
Impact of foreign exchange rates | — | — | (1 | ) | 3 | |||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Benefit obligation at the end of year | $ | 569 | $ | 607 | $ | 176 | $ | 163 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Change in plan assets: | ||||||||||||||||||||||||||
Fair value of plan assets at the beginning of year | $ | 396 | $ | 355 | $ | 131 | $ | 124 | ||||||||||||||||||
Actual return on plan assets | 53 | 48 | 8 | 7 | ||||||||||||||||||||||
Employer contributions | 25 | 14 | 16 | 10 | ||||||||||||||||||||||
Employee contributions | — | — | 3 | 3 | ||||||||||||||||||||||
Plan settlements | — | (3 | ) | (9 | ) | (14 | ) | |||||||||||||||||||
Effect of plan combinations | — | — | 5 | — | ||||||||||||||||||||||
Divestitures | — | — | — | — | ||||||||||||||||||||||
Benefits paid | (19 | ) | (17 | ) | 3 | (1 | ) | |||||||||||||||||||
Expenses paid | (1 | ) | (1 | ) | — | — | ||||||||||||||||||||
Impact of foreign exchange rates | — | — | (4 | ) | 2 | |||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Fair value of plan assets at the end of year | $ | 454 | $ | 396 | $ | 153 | $ | 131 | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Funded (unfunded) status and net amounts recognized: | ||||||||||||||||||||||||||
Plan assets (less than) in excess of benefit obligation | $ | (115 | ) | $ | (211 | ) | $ | (23 | ) | $ | (32 | ) | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Net (liability) asset recognized in the balance sheet | $ | (115 | ) | $ | (211 | ) | $ | (23 | ) | $ | (32 | ) | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Amounts recognized in the balance sheet consist of: | ||||||||||||||||||||||||||
Non-current assets | $ | 7 | $ | — | $ | 12 | $ | 4 | ||||||||||||||||||
Current liabilities | (3 | ) | (1 | ) | (2 | ) | (2 | ) | ||||||||||||||||||
Non-current liabilities | (119 | ) | (210 | ) | (33 | ) | (34 | ) | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Net liability recognized | $ | (115 | ) | $ | (211 | ) | $ | (23 | ) | $ | (32 | ) | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Schedule of accumulated benefit obligation in excess of plan assets | ' | |||||||||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||||||||
Pension | Pension | |||||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Projected benefit obligation | $ | 498 | $ | 607 | $ | 38 | $ | 54 | ||||||||||||||||||
Accumulated benefit obligation | $ | 449 | $ | 548 | $ | 36 | $ | 52 | ||||||||||||||||||
Fair value of plan assets | $ | 375 | $ | 396 | $ | 5 | $ | 21 | ||||||||||||||||||
Components of net periodic benefit costs | ' | |||||||||||||||||||||||||
U.S. Pension | Foreign Pension | |||||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||
Service cost | $ | 21 | $ | 18 | $ | 15 | $ | 9 | $ | 8 | $ | 7 | ||||||||||||||
Interest cost | 25 | 25 | 25 | 5 | 6 | 6 | ||||||||||||||||||||
Expected return on plan assets | (30 | ) | (26 | ) | (26 | ) | (5 | ) | (6 | ) | (6 | ) | ||||||||||||||
Amortization of prior service cost | 1 | 2 | 2 | — | — | — | ||||||||||||||||||||
Amortization of net loss | 16 | 13 | 5 | 3 | 1 | 1 | ||||||||||||||||||||
Curtailment loss | — | — | — | 1 | — | — | ||||||||||||||||||||
Settlement loss recognized | — | — | — | — | 1 | — | ||||||||||||||||||||
Special termination benefit | 3 | — | — | — | — | — | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Net periodic benefit costs | $ | 36 | $ | 32 | $ | 21 | $ | 13 | $ | 10 | $ | 8 | ||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Weighted-average assumptions used in determining the benefit obligation | ' | |||||||||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||||||||
Pension | Pension | |||||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||
Discount rate | 5.2 | % | 4.2 | % | 3.6 | % | 3.3 | % | ||||||||||||||||||
Increase in future compensation levels | 3.8 | % | 3.8 | % | 2.7 | % | 3 | % | ||||||||||||||||||
Weighted-average assumptions used in determining the net periodic benefit cost | ' | |||||||||||||||||||||||||
U.S. Pension | Foreign Pension | |||||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||
Discount rate | 4.2 | % | 5 | % | 6 | % | 3.3 | % | 4.2 | % | 4.4 | % | ||||||||||||||
Expected long-term rate of return on assets | 7.5 | % | 7.5 | % | 8 | % | 4 | % | 4.6 | % | 5.3 | % | ||||||||||||||
Increase in future compensation levels | 3.8 | % | 3.8 | % | 4.2 | % | 3 | % | 2.7 | % | 2.4 | % | ||||||||||||||
Fair values of pension plan assets | ' | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 | ||||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | |||||||||||||||||||||||
in Active | Observable | Unobservable | ||||||||||||||||||||||||
Markets for | Inputs (Level 2) | Inputs (Level 3) | ||||||||||||||||||||||||
Identical | ||||||||||||||||||||||||||
Assets (Level 1) | ||||||||||||||||||||||||||
(US$ in millions) | U.S. | Foreign | U.S. | Foreign | U.S. | Foreign | U.S. | Foreign | ||||||||||||||||||
Asset Category | Pension | Pension | Pension | Pension | Pension | Pension | Pension | Pension | ||||||||||||||||||
Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | |||||||||||||||||||
Cash | $ | 2 | $ | 9 | $ | 2 | $ | 9 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Equities: | ||||||||||||||||||||||||||
Mutual Funds(1) | 297 | 58 | 297 | 1 | — | 57 | — | — | ||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||
Mutual Funds(2) | 155 | 80 | 77 | 5 | 78 | 75 | — | — | ||||||||||||||||||
Others(3) | — | 6 | — | — | — | 6 | — | — | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 454 | $ | 153 | $ | 376 | $ | 15 | $ | 78 | $ | 138 | $ | — | $ | — | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Fair Value Measurements at December 31, 2012 | ||||||||||||||||||||||||||
Total | Quoted Prices | Significant | Significant | |||||||||||||||||||||||
in Active | Observable | Unobservable | ||||||||||||||||||||||||
Markets for | Inputs (Level 2) | Inputs (Level 3) | ||||||||||||||||||||||||
Identical | ||||||||||||||||||||||||||
Assets (Level 1) | ||||||||||||||||||||||||||
(US$ in millions) | U.S. | Foreign | U.S. | Foreign | U.S. | Foreign | U.S. | Foreign | ||||||||||||||||||
Asset Category | Pension | Pension | Pension | Pension | Pension | Pension | Pension | Pension | ||||||||||||||||||
Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | Benefits | |||||||||||||||||||
Cash | $ | 2 | $ | — | $ | 2 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Equities: | ||||||||||||||||||||||||||
Mutual Funds(1) | 251 | 19 | 251 | — | — | 19 | — | — | ||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||
Mutual Funds(2) | 143 | 106 | 72 | 7 | 71 | 99 | — | — | ||||||||||||||||||
Others(3) | — | 6 | — | — | — | 6 | — | — | ||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 396 | $ | 131 | $ | 325 | $ | 7 | $ | 71 | $ | 124 | $ | — | $ | — | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | ||||||||||||||||||||||||||
This category represents a portfolio of equity investments comprised of equity index funds that invest in U.S. equities and non-U.S. equities. The U.S. equities are comprised of investments focusing on large, mid and small cap companies and non-U.S. equities are comprised of international, emerging markets and real estate investment trusts. | ||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||
This category represents a portfolio of fixed income investments in mutual funds comprised of investment grade U.S. government bonds and notes, foreign government bonds and corporate bonds from diverse industries. | ||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||
This category represents a portfolio consisting of a mixture of equity, fixed income and cash. | ||||||||||||||||||||||||||
Estimated future benefit payments | ' | |||||||||||||||||||||||||
(US$ in millions) | U.S. Pension | Foreign Pension | ||||||||||||||||||||||||
Benefit Payments | Benefit Payments | |||||||||||||||||||||||||
2014 | $ | 24 | $ | 9 | ||||||||||||||||||||||
2015 | 26 | 8 | ||||||||||||||||||||||||
2016 | 28 | 8 | ||||||||||||||||||||||||
2017 | 31 | 8 | ||||||||||||||||||||||||
2018 | 33 | 8 | ||||||||||||||||||||||||
2019-2023 | 193 | 43 |
Postretirement_Healthcare_Bene1
Postretirement Healthcare Benefit Plans (Tables) (U.S. and foreign postretirement healthcare benefits) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
U.S. and foreign postretirement healthcare benefits | ' | |||||||||||||||||||
Postretirement Healthcare Benefit Plans | ' | |||||||||||||||||||
Changes in the benefit obligations, assets and funded status of plans recognized in the balance sheet | ' | |||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||
Postretirement | Postretirement | |||||||||||||||||||
Healthcare | Healthcare | |||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Change in benefit obligations: | ||||||||||||||||||||
Benefit obligation at the beginning of year | $ | 16 | $ | 17 | $ | 80 | $ | 97 | ||||||||||||
Plan amendments | — | — | — | (3 | ) | |||||||||||||||
Plan curtailments | — | — | (2 | ) | — | |||||||||||||||
Service cost | — | — | — | 1 | ||||||||||||||||
Interest cost | 1 | 1 | 6 | 9 | ||||||||||||||||
Actuarial (gain) loss, net | (1 | ) | — | (15 | ) | (2 | ) | |||||||||||||
Employee contributions | 1 | 1 | — | — | ||||||||||||||||
Plan settlements/divestitures | — | — | — | (6 | ) | |||||||||||||||
Benefits paid | (2 | ) | (3 | ) | (6 | ) | (9 | ) | ||||||||||||
Impact of foreign exchange rates | (1 | ) | — | (9 | ) | (7 | ) | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Benefit obligation at the end of year | $ | 14 | $ | 16 | $ | 54 | $ | 80 | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Change in plan assets: | ||||||||||||||||||||
Employer contributions | $ | 1 | $ | 2 | $ | 6 | $ | 9 | ||||||||||||
Employee contributions | 1 | 1 | — | — | ||||||||||||||||
Benefits paid | (2 | ) | (3 | ) | (6 | ) | (9 | ) | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Fair value of plan assets at the end of year | $ | — | $ | — | $ | — | $ | — | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Funded status and net amounts recognized: | ||||||||||||||||||||
Plan assets (less than) of benefit obligation | $ | (14 | ) | $ | (16 | ) | $ | (54 | ) | $ | (80 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Net (liability) recognized in the balance sheet | $ | (14 | ) | $ | (16 | ) | $ | (54 | ) | $ | (80 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Amounts recognized in the balance sheet consist of: | ||||||||||||||||||||
Current liabilities | $ | (1 | ) | $ | (2 | ) | $ | (5 | ) | $ | (3 | ) | ||||||||
Non-current liabilities | (13 | ) | (14 | ) | (49 | ) | (77 | ) | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Net liability recognized | $ | (14 | ) | $ | (16 | ) | $ | (54 | ) | $ | (80 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Components of net periodic benefit costs | ' | |||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||
Postretirement | Postretirement | |||||||||||||||||||
Healthcare Benefits | Healthcare Benefits | |||||||||||||||||||
Year Ended | Year Ended | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||
Service cost | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | 1 | ||||||||
Interest cost | 1 | 1 | 1 | 6 | 9 | 10 | ||||||||||||||
Amortization of prior service cost | — | — | — | — | (7 | ) | (1 | ) | ||||||||||||
Amortization of net (gain) loss | (1 | ) | — | — | 1 | 8 | 1 | |||||||||||||
Curtailment gain | — | — | — | (2 | ) | — | — | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net periodic benefit costs | $ | — | $ | 1 | $ | 1 | $ | 5 | $ | 11 | $ | 11 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Weighted-average assumptions used in determining the benefit obligation | ' | |||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||
Postretirement | Postretirement | |||||||||||||||||||
Healthcare | Healthcare | |||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Discount rate | 4.7 | % | 3.8 | % | 11.4 | % | 8.8 | % | ||||||||||||
Weighted-average assumptions used in determining the net periodic benefit cost | ' | |||||||||||||||||||
U.S. | Foreign | |||||||||||||||||||
Postretirement | Postretirement | |||||||||||||||||||
Healthcare Benefits | Healthcare Benefits | |||||||||||||||||||
Year Ended | Year Ended | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||
Discount rate | 3.8 | % | 4.8 | % | 5.3 | % | 8.8 | % | 10.3 | % | 10.8 | % | ||||||||
Effects of one-percentage point change in assumed healthcare cost trend rates | ' | |||||||||||||||||||
(US$ in millions) | One-percentage | One-percentage | ||||||||||||||||||
point increase | point decrease | |||||||||||||||||||
Effect on total service and interest cost—U.S. plans | $ | — | $ | — | ||||||||||||||||
Effect on total service and interest cost—Foreign plans | $ | 1 | $ | (1 | ) | |||||||||||||||
Effect on postretirement benefit obligation—U.S. plans | $ | 1 | $ | (1 | ) | |||||||||||||||
Effect on postretirement benefit obligation—Foreign plans | $ | 5 | $ | (4 | ) |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Commitments and Contingencies | ' | ||||||||||
Liabilities related to general claims and lawsuits included in other non-current liabilities | ' | ||||||||||
December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | |||||||||
Tax claims | $ | 59 | $ | 70 | |||||||
Labor claims | 76 | 75 | |||||||||
Civil and other claims | 101 | 109 | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Total | $ | 236 | $ | 254 | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ||||
Maximum potential future payments related to guarantees | ' | ||||||||||
Guarantees—Bunge has issued or was a party to the following guarantees at December 31, 2013: | |||||||||||
(US$ in millions) | Maximum Potential | ||||||||||
Future Payments | |||||||||||
Unconsolidated affiliates financing(1) | $ | 25 | |||||||||
Residual value guarantee(2) | 90 | ||||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Total | $ | 115 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | |||||||
-1 | |||||||||||
Bunge issued guarantees to certain financial institutions related to debt of certain of its unconsolidated joint ventures. The terms of the guarantees are equal to the terms of the related financings which have maturity dates in 2014 through 2017. There are no recourse provisions or collateral that would enable Bunge to recover any amounts paid under these guarantees. At December 31, 2013, Bunge had no outstanding recorded obligation related to these guarantees. | |||||||||||
-2 | |||||||||||
Bunge issued guarantees to certain financial institutions which are party to certain operating lease arrangements for railcars and barges. These guarantees provide for a minimum residual value to be received by the lessor at conclusion of the lease term. These leases expire at various dates from 2016 through 2019. At December 31, 2013, Bunge's recorded obligation related to these guarantees was $3 million. | |||||||||||
Future minimum payment obligations under freight supply agreements | ' | ||||||||||
(US$ in millions) | Ocean Freight | Railroad | Future | ||||||||
Vessels | Services | Minimum Payment | |||||||||
Obligations | |||||||||||
2014 | $ | 209 | $ | 75 | $ | 284 | |||||
2015 and 2016 | 94 | 54 | 148 | ||||||||
2017 and 2018 | 93 | 51 | 144 | ||||||||
2019 and thereafter | 132 | 213 | 345 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Total | $ | 528 | $ | 393 | $ | 921 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Equity_Tables
Equity (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Equity | ' | ||||||||||||||||
Schedule of after-tax components of accumulated other comprehensive income (loss) attributable to Bunge | ' | ||||||||||||||||
(US$ in millions) | Foreign | Deferred | Pension | Unrealized | Accumulated | ||||||||||||
Exchange | Gains and Losses | and Other | Gains and | Other | |||||||||||||
Translation | on Hedging | Postretirement | Losses on | Comprehensive | |||||||||||||
Adjustment(1) | Activities | Liability | Investments | Income (Loss) | |||||||||||||
Adjustment | |||||||||||||||||
Balance, January 1, 2011 | $ | 670 | $ | (2 | ) | $ | (83 | ) | $ | (2 | ) | $ | 583 | ||||
Other comprehensive income (loss) before reclassification | (1,130 | ) | 5 | (41 | ) | — | (1,166 | ) | |||||||||
Amount reclassified from accumulated other comprehensive income | — | (27 | ) | — | — | (27 | ) | ||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net-current period other comprehensive income | (1,130 | ) | (22 | ) | (41 | ) | — | (1,193 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2011 | (460 | ) | (24 | ) | (124 | ) | (2 | ) | (610 | ) | |||||||
Other comprehensive income (loss) before reclassification | (805 | ) | 5 | (33 | ) | 11 | (822 | ) | |||||||||
Amount reclassified from accumulated other comprehensive income | — | 22 | — | — | 22 | ||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net-current period other comprehensive income | (805 | ) | 27 | (33 | ) | 11 | (800 | ) | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2012 | (1,265 | ) | 3 | (157 | ) | 9 | (1,410 | ) | |||||||||
Other comprehensive income (loss) before reclassification | (1,217 | ) | — | 88 | 5 | (1,124 | ) | ||||||||||
Amount reclassified from accumulated other comprehensive income | (4 | ) | (25 | ) | — | (9 | ) | (38 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net-current period other comprehensive income | (1,221 | ) | (25 | ) | 88 | (4 | ) | (1,162 | ) | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Balance, December 31, 2013 | $ | (2,486 | ) | $ | (22 | ) | $ | (69 | ) | $ | 5 | $ | (2,572 | ) | |||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | |||||||||||||||||
Bunge has significant operating subsidiaries in Brazil, Argentina and Europe. The functional currency of Bunge's subsidiaries is the local currency. The assets and liabilities of these subsidiaries are translated into U.S. dollars from local currency at month-end exchange rates, and the resulting foreign exchange translation gains (losses) are recorded in the consolidated balance sheets as a component of accumulated other comprehensive income (loss). | |||||||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Earnings Per Share | ' | ||||||||||
Computation of basic and diluted earnings per common share | ' | ||||||||||
Year Ended December 31, | |||||||||||
(US$ in millions, except for share data) | 2013 | 2012 | 2011 | ||||||||
Income from continuing operations | $ | 110 | $ | 378 | $ | 965 | |||||
Net (income) loss attributable to noncontrolling interests | 99 | 28 | 2 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Income from continuing operations attributable to Bunge | 209 | 406 | 967 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Other redeemable obligations(1) | (42 | ) | (2 | ) | — | ||||||
Convertible preference share dividends and other obligations | (34 | ) | (34 | ) | (34 | ) | |||||
Income (loss) from discontinued operations, net of tax | 97 | (342 | ) | (25 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income available to Bunge common shareholders | $ | 230 | $ | 28 | $ | 908 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Weighted-average number of common shares outstanding: | |||||||||||
Basic | 147,204,082 | 146,000,541 | 146,583,128 | ||||||||
Effect of dilutive shares: | |||||||||||
— | 1,053,227 | 1,134,945 | 1,042,127 | ||||||||
stock options and awards(2) | |||||||||||
— | — | — | 7,583,790 | ||||||||
convertible preference shares(3) | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Diluted | 148,257,309 | 147,135,486 | 155,209,045 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Basic earnings per common share: | |||||||||||
Net income (loss) from continuing operations | $ | 0.91 | $ | 2.53 | $ | 6.37 | |||||
Net income (loss) from discontinued operations | 0.66 | (2.34 | ) | (0.17 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income attributable to Bunge common shareholders—basic | $ | 1.57 | $ | 0.19 | $ | 6.2 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Diluted earnings per common share: | |||||||||||
Net income (loss) from continuing operations | $ | 0.9 | $ | 2.51 | $ | 6.23 | |||||
Net income (loss) from discontinued operations | 0.65 | (2.32 | ) | (0.16 | ) | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income attributable to Bunge common shareholders—diluted | $ | 1.55 | $ | 0.19 | $ | 6.07 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
-1 | |||||||||||
Accretion of redeemable noncontrolling interests of $42 million and $2 million for the years ended December 31, 2013 and 2012, respectively, relates to a non-fair value variable put arrangement whereby the noncontrolling interest holder may require Bunge to purchase the remaining shares of an oilseed processing operation in Eastern Europe. Accretion for the respective periods includes the effect of losses incurred by the operations for the years ended December 31, 2013, and 2012, respectively. | |||||||||||
-2 | |||||||||||
The weighted-average common shares outstanding-diluted excludes approximately 3 million, 4 million and 4 million stock options and contingently issuable restricted stock units, which were not dilutive and not included in the computation of diluted earnings per share for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||
-3 | |||||||||||
Weighted-average common shares outstanding-diluted for the years ended December 31, 2013 and 2012, excludes the effect of approximately 7.7 million and 7.6 million, respectively, weighted-average common shares that would be issuable upon conversion of Bunge's convertible preference shares because the effect would not have been dilutive. | |||||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Share-Based Compensation | ' | |||||||||||||
Assumptions used to estimate fair value of stock options | ' | |||||||||||||
December 31, | ||||||||||||||
Assumptions: | 2013 | 2012 | 2011 | |||||||||||
Expected option term (in years) | 6 | 5.94 | 5.39 | |||||||||||
Expected dividend yield | 1.45 | % | 1.48 | % | 1.29 | % | ||||||||
Expected volatility | 43.23 | % | 44.26 | % | 45.45 | % | ||||||||
Risk-free interest rate | 1.01 | % | 1.15 | % | 2.48 | % | ||||||||
Summary of stock option activity | ' | |||||||||||||
Options | Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||
(US$ in millions) | Exercise Price | Remaining | Intrinsic | |||||||||||
Contractual | Value | |||||||||||||
Term (Years) | ||||||||||||||
Outstanding at January 1, 2013 | 5,741,819 | $ | 65.59 | |||||||||||
Granted | 785,375 | 74.32 | ||||||||||||
Exercised | (1,070,635 | ) | 49.52 | |||||||||||
Forfeited or expired | (292,391 | ) | 82.36 | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Outstanding at December 31, 2013 | 5,164,168 | $ | 69.3 | 5.98 | $ | 77 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Exercisable at December 31, 2013 | 3,498,165 | $ | 68.4 | 4.8 | $ | 59 | ||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Summary of restricted stock unit activity | ' | |||||||||||||
Restricted Stock Units | Shares | Weighted-Average | ||||||||||||
Grant-Date | ||||||||||||||
Fair Value | ||||||||||||||
Restricted stock units at January 1, 2013(1) | 1,332,745 | $ | 66.17 | |||||||||||
Granted | 543,412 | 74.4 | ||||||||||||
Vested/issued(2) | (339,335 | ) | 56.78 | |||||||||||
Forfeited/cancelled(2) | (254,496 | ) | 71.56 | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
Restricted stock units at December 31, 2013(1) | 1,282,326 | $ | 71.07 | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||
-1 | ||||||||||||||
Excludes accrued unvested dividends, which are payable in shares upon vesting of Bunge's common shares. At December 31, 2013, there were 37,352 unvested dividends accrued. Accrued unvested dividends are revised upon non-achievement of performance targets. | ||||||||||||||
-2 | ||||||||||||||
During the year ended December 31, 2013, Bunge issued 339,335 common shares, net of common shares withheld to cover taxes, including related common shares representing accrued dividends, with a weighted-average fair value of $73.03 per share. At December 31, 2013, Bunge has approximately 18,074 deferred common share units including common shares representing accrued dividends. During the year ended December 31, 2013, Bunge canceled approximately 212,309 shares related to performance-based restricted stock unit awards that did not vest due to non-achievement of performance targets and performance-based restricted stock unit awards that were withheld to cover payment of employee related taxes. | ||||||||||||||
Lease_Commitments_Tables
Lease Commitments (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Lease Commitments | ' | ||||||||||
Minimum lease payments under non-cancelable operating leases | ' | ||||||||||
Future minimum lease payments by year and in the aggregate under non-cancelable operating leases with initial or remaining terms of one year or more at December 31, 2013 are as follows: | |||||||||||
(US$ in millions) | Minimum | ||||||||||
Lease | |||||||||||
Payments | |||||||||||
2014 | $ | 193 | |||||||||
2015 | 162 | ||||||||||
2016 | 148 | ||||||||||
2017 | 93 | ||||||||||
2018 | 80 | ||||||||||
Thereafter | 320 | ||||||||||
​ | ​ | ​ | ​ | ​ | |||||||
Total | $ | 996 | |||||||||
​ | ​ | ​ | ​ | ​ | |||||||
​ | ​ | ​ | ​ | ​ | |||||||
Net rent expense under non-cancelable operating leases | ' | ||||||||||
Year Ended | |||||||||||
December 31, | |||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||
Rent expense | $ | 204 | $ | 189 | $ | 227 | |||||
Sublease income | (23 | ) | (35 | ) | (41 | ) | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net rent expense | $ | 181 | $ | 154 | $ | 186 | |||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Operating_Segments_and_Geograp1
Operating Segments and Geographic Areas (Tables) | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Operating Segments and Geographic Areas | ' | ||||||||||||||||||||||
Operating Segment Information | ' | ||||||||||||||||||||||
(US$ in millions) | Agribusiness | Sugar and | Edible Oil | Milling | Fertilizer | Discontinued | Total | ||||||||||||||||
Bioenergy | Products | Products | Operations & | ||||||||||||||||||||
Unallocated | |||||||||||||||||||||||
2013 | |||||||||||||||||||||||
Net sales to external customers | $ | 45,507 | $ | 4,215 | $ | 9,165 | $ | 2,012 | $ | 448 | $ | — | $ | 61,347 | |||||||||
Inter-segment revenues | 4,978 | 61 | 138 | 9 | 3 | (5,189 | ) | — | |||||||||||||||
Gross profit | 1,797 | 92 | 540 | 262 | 69 | — | 2,760 | ||||||||||||||||
Foreign exchange gain (loss) | 41 | 3 | 5 | (1 | ) | 5 | — | 53 | |||||||||||||||
Noncontrolling interests(2) | 31 | 9 | (7 | ) | — | (5 | ) | 71 | 99 | ||||||||||||||
Other income (expense)—net | (2 | ) | — | 10 | 3 | 33 | — | 44 | |||||||||||||||
Segment EBIT | 1,032 | (60 | ) | 163 | 125 | 69 | — | 1,329 | |||||||||||||||
Discontinued operations(3) | — | — | — | — | — | 97 | 97 | ||||||||||||||||
Depreciation, depletion and amortization expense | (240 | ) | (184 | ) | (99 | ) | (28 | ) | (17 | ) | — | (568 | ) | ||||||||||
Investments in affiliates | 185 | 56 | — | — | — | — | 241 | ||||||||||||||||
Total assets | 18,898 | 3,512 | 2,420 | 1,242 | 353 | 356 | 26,781 | ||||||||||||||||
Capital expenditures | 395 | 346 | 146 | 56 | 23 | 76 | 1,042 | ||||||||||||||||
2012 | |||||||||||||||||||||||
Net sales to external customers | $ | 44,561 | $ | 4,659 | $ | 9,472 | $ | 1,833 | $ | 466 | $ | — | $ | 60,991 | |||||||||
Inter-segment revenues | 5,377 | — | 119 | 1 | 58 | (5,555 | ) | — | |||||||||||||||
Gross profit | 1,786 | 64 | 446 | 201 | 76 | — | 2,573 | ||||||||||||||||
Foreign exchange gain (loss) | 111 | (15 | ) | (8 | ) | 1 | (1 | ) | — | 88 | |||||||||||||
Noncontrolling interests(2) | (9 | ) | 25 | 2 | — | (3 | ) | 13 | 28 | ||||||||||||||
Other income (expense)—net | (68 | ) | (3 | ) | (7 | ) | — | (14 | ) | — | (92 | ) | |||||||||||
Segment EBIT(1) | 1,047 | (637 | ) | 80 | 115 | 23 | — | 628 | |||||||||||||||
Discontinued operations(3) | — | — | — | — | — | (342 | ) | (342 | ) | ||||||||||||||
Depreciation, depletion and amortization expense | (221 | ) | (175 | ) | (93 | ) | (30 | ) | (18 | ) | — | (537 | ) | ||||||||||
Investments in affiliates | 195 | 37 | — | — | 41 | — | 273 | ||||||||||||||||
Total assets | 18,178 | 3,691 | 2,723 | 806 | 972 | 910 | 27,280 | ||||||||||||||||
Capital expenditures | 365 | 421 | 179 | 27 | 31 | 72 | 1,095 | ||||||||||||||||
2011 | |||||||||||||||||||||||
Net sales to external customers | $ | 38,844 | $ | 5,842 | $ | 8,839 | $ | 2,006 | $ | 566 | $ | — | $ | 56,097 | |||||||||
Inter-segment revenues | 4,952 | 13 | 86 | 50 | 66 | (5,167 | ) | — | |||||||||||||||
Gross profit (loss) | 1,687 | 149 | 462 | 234 | 95 | — | 2,627 | ||||||||||||||||
Foreign Exchange gain (loss) | (16 | ) | (4 | ) | 3 | — | 1 | — | (16 | ) | |||||||||||||
Noncontrolling interests(2) | (18 | ) | (2 | ) | (6 | ) | — | (4 | ) | 32 | 2 | ||||||||||||
Other income (expense)—net | (11 | ) | 4 | 3 | 2 | 9 | — | 7 | |||||||||||||||
Segment EBIT | 905 | (20 | ) | 137 | 104 | 63 | — | 1,189 | |||||||||||||||
Discontinued operations(3) | — | — | — | — | — | (25 | ) | (25 | ) | ||||||||||||||
Depreciation, depletion and amortization expense | (184 | ) | (171 | ) | (87 | ) | (27 | ) | (24 | ) | — | (493 | ) | ||||||||||
Investments in affiliates | 506 | 18 | — | 14 | 62 | — | 600 | ||||||||||||||||
Total assets | 15,903 | 3,805 | 2,445 | 715 | 2,353 | — | 25,221 | ||||||||||||||||
Capital expenditures | 494 | 376 | 145 | 25 | 56 | 29 | 1,125 | ||||||||||||||||
-1 | |||||||||||||||||||||||
During the year ended December 31, 2012, Bunge recorded a pre-tax impairment charge of $514 million in its sugar and bioenergy segment for the write-down of goodwill. In addition, Bunge recorded pre-tax impairment charges of $30 million and $19 million in selling, general and administrative expenses and other income (expense)-net, respectively related to the write-down of two separate affiliate loans to joint ventures and three separate equity method investments. Of these pre-tax impairment charges, $1 million and $9 million were allocated to the agribusiness segment in selling, general and administrative expenses and other income (expense)-net, respectively, and $29 million and $10 million was allocated to the sugar and bioenergy segment in selling, general and administrative expenses and other income (expense)-net, respectively. | |||||||||||||||||||||||
-2 | |||||||||||||||||||||||
Includes the noncontrolling interests' share of interest and tax to reconcile to consolidated noncontrolling interests. | |||||||||||||||||||||||
-3 | |||||||||||||||||||||||
Represents net income (loss) from discontinued operations (see Note 3). | |||||||||||||||||||||||
Reconciliation of total segment earnings before interest and tax to net income attributable to Bunge | ' | ||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||
Total segment EBIT from continuing operations | $ | 1,329 | $ | 628 | $ | 1,189 | |||||||||||||||||
Interest income | 76 | 53 | 96 | ||||||||||||||||||||
Interest expense | (363 | ) | (294 | ) | (295 | ) | |||||||||||||||||
Income tax (expense) benefit | (904 | ) | 6 | (55 | ) | ||||||||||||||||||
Income (loss) from discontinued operations, net of tax | 97 | (342 | ) | (25 | ) | ||||||||||||||||||
Noncontrolling interests' share of interest and tax | 71 | 13 | 32 | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Net income attributable to Bunge | $ | 306 | $ | 64 | $ | 942 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Net sales by product group to external customers | ' | ||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||
Agricultural commodities products | $ | 45,507 | $ | 44,561 | $ | 38,844 | |||||||||||||||||
Sugar and bioenergy products | 4,215 | 4,659 | 5,842 | ||||||||||||||||||||
Edible oil products | 9,165 | 9,472 | 8,839 | ||||||||||||||||||||
Wheat milling products | 1,226 | 1,027 | 1,186 | ||||||||||||||||||||
Corn milling products | 786 | 806 | 820 | ||||||||||||||||||||
Fertilizer products | 448 | 466 | 566 | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Total | $ | 61,347 | $ | 60,991 | $ | 56,097 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Geographic area information for net sales to external customers, determined based on the location of the subsidiary making the sale, and long-lived assets | ' | ||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||
Net sales to external customers: | |||||||||||||||||||||||
Europe | $ | 19,821 | $ | 19,475 | $ | 18,417 | |||||||||||||||||
United States | 12,764 | 15,249 | 13,769 | ||||||||||||||||||||
Brazil | 9,679 | 8,583 | 8,335 | ||||||||||||||||||||
Asia | 12,516 | 11,160 | 9,590 | ||||||||||||||||||||
Argentina | 2,609 | 3,059 | 3,660 | ||||||||||||||||||||
Canada | 2,220 | 2,322 | 1,856 | ||||||||||||||||||||
Rest of world | 1,738 | 1,143 | 470 | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Total | $ | 61,347 | $ | 60,991 | $ | 56,097 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Year Ended December 31, | |||||||||||||||||||||||
(US$ in millions) | 2013 | 2012 | 2011 | ||||||||||||||||||||
Long-lived assets(1): | |||||||||||||||||||||||
Europe | $ | 1,301 | $ | 1,238 | $ | 1,051 | |||||||||||||||||
United States | 965 | 987 | 1,307 | ||||||||||||||||||||
Brazil | 3,145 | 3,341 | 4,004 | ||||||||||||||||||||
Asia | 565 | 512 | 378 | ||||||||||||||||||||
Argentina | 248 | 330 | 287 | ||||||||||||||||||||
Canada | 316 | 236 | 180 | ||||||||||||||||||||
Rest of world | 540 | 163 | 23 | ||||||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
Total | $ | 7,080 | $ | 6,807 | $ | 7,230 | |||||||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |||||||||||||
-1 | |||||||||||||||||||||||
Long-lived assets include property, plant and equipment, net, goodwill and other intangible assets, net, investments in affiliates and non-current assets held for sale. | |||||||||||||||||||||||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information (Unaudited) | ' | ||||||||||||||||
Quarterly Financial Information (Unaudited) | ' | ||||||||||||||||
Quarter | |||||||||||||||||
(US$ in millions, except per share data) | First | Second | Third | Fourth | Year End | ||||||||||||
2013 | |||||||||||||||||
Volumes (in millions of metric tons) | 37 | 39 | 42 | 42 | 160 | ||||||||||||
Net sales | $ | 14,785 | $ | 15,491 | $ | 14,701 | $ | 16,370 | $ | 61,347 | |||||||
Gross profit | 647 | 616 | 688 | 809 | 2,760 | ||||||||||||
Income from discontinued operations, net of tax | (9 | ) | 1 | 103 | 2 | 97 | |||||||||||
Net income | 148 | 122 | (193 | ) | 130 | 207 | |||||||||||
Net income attributable to Bunge | 180 | 136 | (148 | ) | 138 | 306 | |||||||||||
Earnings per common share—basic(2) | |||||||||||||||||
Net income | $ | 1.01 | $ | 0.83 | $ | (1.31 | ) | $ | 0.88 | $ | 1.41 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) from continuing operations | $ | 1.22 | $ | 0.74 | $ | (1.82 | ) | $ | 0.76 | $ | 0.91 | ||||||
Net income (loss) from discontinued operations | (0.06 | ) | 0.02 | 0.69 | 0.02 | 0.66 | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) to Bunge common shareholders | $ | 1.16 | $ | 0.76 | $ | (1.13 | ) | $ | 0.78 | $ | 1.57 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Earnings per common share—diluted(2) | |||||||||||||||||
Net income | $ | 1 | $ | 0.83 | $ | (1.31 | ) | $ | 0.87 | $ | 1.4 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) from continuing operations | $ | 1.21 | $ | 0.74 | $ | (1.82 | ) | $ | 0.75 | $ | 0.9 | ||||||
Net income (loss) from discontinued operations | (0.06 | ) | 0.01 | 0.69 | 0.03 | 0.65 | |||||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) to Bunge common shareholders | $ | 1.15 | $ | 0.75 | $ | (1.13 | ) | $ | 0.78 | $ | 1.55 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Weighted-average number of shares: | |||||||||||||||||
Weighted-average number of shares outstanding—basic | 146,648,822 | 147,128,500 | 147,349,175 | 147,678,707 | 147,204,082 | ||||||||||||
Weighted-average number of shares | |||||||||||||||||
outstanding—diluted | 147,867,817 | 147,873,841 | 147,349,175 | 148,803,918 | 148,257,309 | ||||||||||||
Market price: | |||||||||||||||||
High | $ | 79.92 | $ | 73.51 | $ | 79.15 | $ | 83.11 | |||||||||
Low | $ | 72.12 | $ | 66.4 | $ | 71.35 | $ | 76.11 | |||||||||
2012(1) | |||||||||||||||||
Volumes (in millions of metric tons) | 36 | 41 | 43 | 33 | 153 | ||||||||||||
Net sales | $ | 12,909 | $ | 14,499 | $ | 16,543 | $ | 17,040 | $ | 60,991 | |||||||
Gross profit | 537 | 643 | 843 | 550 | 2,573 | ||||||||||||
Income from discontinued operations, net of tax | (35 | ) | 8 | 4 | (319 | ) | (342 | ) | |||||||||
Net income | 89 | 266 | 301 | (620 | ) | 36 | |||||||||||
Net income attributable to Bunge | 92 | 274 | 297 | (599 | ) | 64 | |||||||||||
Earnings per common share—basic(2) | |||||||||||||||||
Net income | $ | 0.61 | $ | 1.82 | $ | 2.06 | $ | (4.24 | ) | $ | 0.25 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) from continuing operations | $ | 0.81 | $ | 1.77 | $ | 1.94 | $ | (1.99 | ) | $ | 2.53 | ||||||
Net income (loss) from discontinued operations | (0.24 | ) | 0.05 | 0.03 | (2.18 | ) | (2.34 | ) | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) to Bunge common shareholders | $ | 0.57 | $ | 1.82 | $ | 1.97 | $ | (4.17 | ) | $ | 0.19 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Earnings per common share—diluted(2) | |||||||||||||||||
Net income | $ | 0.61 | $ | 1.72 | $ | 1.95 | $ | (4.24 | ) | $ | 0.24 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) from continuing operations | $ | 0.8 | $ | 1.73 | $ | 1.89 | $ | (1.99 | ) | $ | 2.51 | ||||||
Net income (loss) from discontinued operations | (0.23 | ) | 0.05 | 0.03 | (2.18 | ) | (2.32 | ) | |||||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Net income (loss) to Bunge common shareholders | $ | 0.57 | $ | 1.78 | $ | 1.92 | $ | (4.17 | ) | $ | 0.19 | ||||||
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | |
Weighted-average number of shares: | |||||||||||||||||
Weighted-average number of shares outstanding—basic | 145,718,123 | 145,974,965 | 146,074,712 | 146,230,219 | 146,000,541 | ||||||||||||
Weighted-average number of shares outstanding—diluted | 146,582,899 | 154,475,872 | 154,645,337 | 146,230,219 | 147,135,486 | ||||||||||||
Market price: | |||||||||||||||||
High | $ | 68.44 | $ | 69.73 | $ | 67.3 | $ | 73.82 | |||||||||
Low | $ | 57.22 | $ | 57.83 | $ | 60.82 | $ | 67.74 | |||||||||
-1 | |||||||||||||||||
Net income for the fourth quarter of and year ended 2012 included an after-tax goodwill impairment charge of $339Â million. | |||||||||||||||||
-2 | |||||||||||||||||
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 December 31, 2013 and 2012 does not equal the total computed for the year. | |||||||||||||||||
Nature_of_Business_Basis_of_Pr3
Nature of Business, Basis of Presentation, and Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
item | |||
Nature of Business, Basis of Presentation, and Significant Accounting Policies | ' | ' | ' |
Number of principal business areas | 4 | ' | ' |
Number of reportable segments | 5 | ' | ' |
Number of sugar mills in Brazil | 8 | ' | ' |
Maximum percentage ownership for interests reported as noncontrolling interests in subsidiaries | 100.00% | ' | ' |
Trade Accounts Receivable and Secured Advances to Suppliers | ' | ' | ' |
Deferred fees or costs related to secured advances to suppliers | $0 | ' | ' |
Imputed interest to be amortized | 0 | ' | ' |
Additional interest income accrued | 0 | ' | ' |
Research and Development | ' | ' | ' |
Research and development expenses | $19 | $19 | $21 |
Buildings | Minimum | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '10 years | ' | ' |
Buildings | Maximum | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '50 years | ' | ' |
Machinery and equipment | Minimum | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '7 years | ' | ' |
Machinery and equipment | Maximum | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '20 years | ' | ' |
Furniture, fixtures and other | Minimum | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '3 years | ' | ' |
Furniture, fixtures and other | Maximum | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '20 years | ' | ' |
Computer software | Minimum | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '3 years | ' | ' |
Computer software | Maximum | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '10 years | ' | ' |
Biological assets | Minimum | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '5 years | ' | ' |
Biological assets | Maximum | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '6 years | ' | ' |
Nature_of_Business_Basis_of_Pr4
Nature of Business, Basis of Presentation, and Significant Accounting Policies (Details 2) (USD $) | 12 Months Ended | 0 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 | Aug. 08, 2013 |
Brazilian fertilizer business | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations | ' | ' |
Proceeds from Divestiture of Businesses | $750 | $750 |
Business_Acquisitions_Details
Business Acquisitions (Details) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 20, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 31, 2013 | Nov. 30, 2012 | Jul. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | 31-May-12 | Mar. 31, 2012 | Dec. 31, 2012 | Mar. 31, 2012 | Feb. 29, 2012 | Dec. 31, 2012 | Dec. 31, 2013 |
Agribusiness | Agribusiness | Agribusiness | Sugar and Bioenergy | Sugar and Bioenergy | Sugar and Bioenergy | Milling products | Milling products | Milling products | Edible Oil Products | Edible Oil Products | Edible Oil Products | Grupo Altex, S.A. de C.V. | Grupo Altex, S.A. de C.V. | Grupo Altex, S.A. de C.V. | Brazilian wheat milling assets | Biodiesel facilities in Europe | Margarine plant in Poland | Oilseed processing venture in Eastern Europe | Sugarcane milling assets in Brazil | Wheat mill and bakery dry mix operation in North America | Wheat mill and bakery dry mix operation in North America | Assets management business in Europe | Assets management business in Europe | Assets management business in Europe | Edible oils and fats business in India | Finite-lived intangible assets and property plant and equipment in North America and Africa | La Espiga | ||||
item | Agribusiness | Edible Oil Products | Agribusiness | Sugar and Bioenergy | Milling products | Agribusiness | Agribusiness | Agribusiness | Edible Oil Products | Agribusiness | |||||||||||||||||||||
item | VIEs | VIEs | item | ||||||||||||||||||||||||||||
Business Acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of biodiesel facilities acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of acquired entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest acquired (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55.00% | ' | ' | 63.50% | ' | ' | ' | ' | ' | 5.00% |
Purchase price paid, net of cash acquired | $355 | $298 | $192 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $214 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price paid, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 310 | ' | ' | ' | ' | 54 | ' | ' | ' | 9 | ' | ' | 94 | ' | ' |
Purchase price paid in cash, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35 | 11 | 7 | 17 | 61 | ' | 102 | ' | ' | ' | 77 | 24 | 10 |
Debt Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17 | ' | ' |
Maximum number of days for finalization of post-closing working capital adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of manufacturing facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37 | ' | ' | 8 | ' | ' | ' | ' | ' | ' |
Remaining percentage of interest to acquire under agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of separate transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' |
Ownership interest immediately prior to acquisition (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 31.50% | ' | ' | ' | ' | ' | ' |
Ownership interest after acquisition (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95.00% | ' | ' | ' | ' | ' | ' |
Gain on acquisition of controlling interests | ' | 36 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36 | ' | ' | ' | ' | ' | ' |
Fair value of previously owned noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52 | ' | ' | ' | ' | ' | ' |
Purchase price allocation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 303 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trade accounts receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventories | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35 | ' | ' | 10 | 4 | ' | 3 | ' | ' | 21 | ' | ' | ' | 15 | ' | ' |
Property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 198 | ' | ' | 12 | 10 | 6 | 131 | 43 | ' | 71 | ' | ' | ' | 27 | ' | ' |
Indemnification asset | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other finite-lived intangible assets | ' | ' | ' | 40 | 45 | ' | 10 | 1 | ' | ' | 32 | ' | ' | 52 | ' | 40 | ' | ' | ' | ' | 1 | ' | 1 | ' | 32 | 23 | ' | ' | 53 | ' | ' |
Weighted-average amortization period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill (Note 8) | 392 | 351 | 893 | 174 | 197 | 216 | ' | ' | 560 | 117 | 51 | 6 | 99 | 101 | 110 | 59 | ' | ' | 7 | ' | ' | ' | 7 | ' | 45 | ' | ' | ' | ' | ' | ' |
Biological assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' |
Other current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17 | ' | 23 | ' | ' | 35 | ' | ' | ' | 4 | ' | ' |
Liabilities assumed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30 | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term deferred tax liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55 | ' | ' | ' | 1 | ' | ' | ' | ' | 24 | ' | ' | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 54 | ' | ' | 5 | ' | ' |
Other current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19 | ' | 14 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40 | ' | 40 | ' | ' | ' |
Long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 89 | ' | ' | ' | 316 | ' | 316 | ' | ' | ' |
NonRecourse Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 354 | ' | ' | ' | ' |
Other net assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14 | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | 52 | ' | ' | ' | ' | ' |
Long-term investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $344 | ' | $344 | ' | ' | ' |
Discontinued_Operations_and_Bu2
Discontinued Operations and Business Divestitures (Details) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 08, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 17, 2013 |
Brazilian fertilizer business | Brazilian fertilizer business | Brazilian fertilizer business | Brazilian fertilizer business | Moroccan fertilizer joint venture | ||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash proceeds from divestiture | ' | ' | ' | ' | ' | ' | ' | ' | $750 | ' | ' | $750 | ' | ' | ' | $37 |
Gain on divestiture | ' | ' | ' | ' | ' | ' | ' | ' | 148 | ' | ' | 148 | ' | ' | ' | ' |
Gain on divestiture, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 112 | ' | ' | ' | ' |
Transaction costs incurred in connection with the divestiture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | ' | ' |
Cumulative translation adjustment in connection with the divestiture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41 | ' | ' | ' | ' |
Ownership interest sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% |
Results from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,217 | 2,503 | 2,646 | ' |
Cost of goods sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,138 | -2,498 | -2,545 | ' |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 79 | 5 | 101 | ' |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -64 | -143 | -117 | ' |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14 | 25 | 6 | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9 | -23 | -7 | ' |
Foreign exchange gain (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7 | 21 | -3 | ' |
Other income (expenses)- net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -12 | -30 | -16 | ' |
Gain on sale of Brazilian fertilizer business | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 148 | ' | ' | ' |
Income (loss) from discontinued operations before income tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 149 | -145 | -36 | ' |
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -52 | -197 | 11 | ' |
Income (loss) from discontinued operations, net of tax | 2 | 103 | 1 | -9 | -319 | 4 | 8 | -35 | 97 | -342 | -25 | ' | 97 | -342 | -25 | ' |
Assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' |
Trade accounts receivable (less allowance of $2) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 189 | ' | ' |
Inventories | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 402 | ' | ' |
Other current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67 | ' | ' |
Current assets held for sale | 55 | ' | ' | ' | 660 | ' | ' | ' | 55 | 660 | ' | ' | ' | 660 | ' | ' |
Property, plant and equipment, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 218 | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40 | ' | ' |
Other non-current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8 | ' | ' |
Non-current assets held for sale | 46 | ' | ' | ' | 250 | ' | ' | ' | 46 | 250 | ' | ' | ' | 250 | ' | ' |
Trade accounts receivable allowance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' |
Liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trade accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 157 | ' | ' |
Other current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 140 | ' | ' |
Current liabilities held for sale | ' | ' | ' | ' | 297 | ' | ' | ' | ' | 297 | ' | ' | ' | 297 | ' | ' |
Other non-current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13 | ' | ' |
Non-current liabilities held for sale | ' | ' | ' | ' | $13 | ' | ' | ' | ' | $13 | ' | ' | ' | $13 | ' | ' |
Trade_Structured_Finance_Progr1
Trade Structured Finance Program (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Trade structured finance program | ' | ' | ' |
Time Deposits under Trade Structured Finance Program weighted-average interest rates (as a percent) | 8.36% | 8.95% | ' |
Letter of Credit Obligations under Trade Structured Finance Program Carrying Amounts | $4,470 | $3,048 | ' |
Total proceeds from issuances of LCs | 9,472 | 5,210 | 3,617 |
Level 2 | ' | ' | ' |
Trade structured finance program | ' | ' | ' |
Time Deposits under Trade Structured Finance Program Fair Values | 4,470 | 3,048 | ' |
Letter of Credit Obligations under Trade Structured Finance Program Fair Values | 4,360 | 3,024 | ' |
Foreign Exchange Contract related to Trade Structured Finance Program Fair Values | $110 | $24 | ' |
Inventories_Details
Inventories (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Inventories | ' | ' |
Inventories | $5,796 | $6,590 |
Agribusiness | ' | ' |
Inventories | ' | ' |
Inventories | 4,498 | 5,240 |
Readily marketable inventories at fair value | 4,163 | 4,892 |
Agribusiness | Merchandising Activities | ' | ' |
Inventories | ' | ' |
Readily marketable inventories at fair value | 2,927 | 3,442 |
Sugar and Bioenergy | ' | ' |
Inventories | ' | ' |
Inventories | 549 | 488 |
Sugar | ' | ' |
Inventories | ' | ' |
Readily marketable inventories | 182 | 199 |
Readily marketable inventories at fair value | 109 | 144 |
Edible Oil Products | ' | ' |
Inventories | ' | ' |
Inventories | 487 | 617 |
Readily marketable inventories at fair value | 67 | 215 |
Milling Products | ' | ' |
Inventories | ' | ' |
Inventories | 210 | 184 |
Fertilizer | ' | ' |
Inventories | ' | ' |
Inventories | $52 | $61 |
Other_Current_Assets_Details
Other Current Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Current Assets: | ' | ' | ' |
Prepaid commodity purchase contracts | $220 | $299 | ' |
Secured advances to suppliers, net | 555 | 390 | ' |
Unrealized gains on derivative contracts, at fair value | 1,561 | 1,230 | ' |
Recoverable taxes, net | 442 | 465 | ' |
Margin deposits | 305 | 363 | ' |
Marketable securities, at fair value | 162 | 105 | ' |
Deferred purchase price receivable, at fair value | 96 | 134 | ' |
Prepaid expenses | 261 | 314 | ' |
Other | 780 | 518 | ' |
Total | 4,382 | 3,818 | ' |
Allowance on secured advance to farmers | 20 | 12 | ' |
Increase in additional bad debt provisions | 20 | 17 | ' |
Reduction of allowance for recoveries | 12 | 7 | ' |
Reduction of allowance for transfers to non-current | ' | 1 | ' |
Interest earned on secured advances to suppliers | $32 | $27 | $25 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment | ' | ' | ' |
Property, plant and equipment, gross | $8,525 | $8,128 | ' |
Less: accumulated depreciation and depletion | -3,591 | -3,395 | ' |
Total | 6,075 | 5,888 | ' |
Capitalized expenditures | 1,001 | 1,139 | 1,061 |
Capitalized interest on construction in progress | 4 | 13 | 16 |
Depreciation and depletion | 524 | 504 | 465 |
Land | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, plant and equipment, gross | 395 | 353 | ' |
Biological assets | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, plant and equipment, gross | 501 | 480 | ' |
Buildings | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, plant and equipment, gross | 2,071 | 1,886 | ' |
Machinery and equipment | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, plant and equipment, gross | 5,135 | 4,938 | ' |
Furniture, fixtures and other | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, plant and equipment, gross | 423 | 471 | ' |
Construction in progress | ' | ' | ' |
Property, Plant and Equipment | ' | ' | ' |
Property, plant and equipment, gross | $1,141 | $1,155 | ' |
Goodwill_Details
Goodwill (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill | ' | ' | ' |
Goodwill, gross at beginning of period | $868 | $896 | ' |
Accumulated impairment losses at beginning of period | -517 | -3 | ' |
Goodwill acquired | 67 | 52 | ' |
Reallocation of acquired goodwill | ' | -13 | ' |
Impairment | ' | -514 | ' |
Tax benefit on goodwill amortization | -5 | -6 | ' |
Foreign exchange translation | -21 | -61 | ' |
Goodwill, gross at end of period | 909 | 868 | ' |
Accumulated impairment losses at end of period | -517 | -517 | ' |
Impairment charge, net of tax | ' | 339 | ' |
Goodwill | 392 | 351 | 893 |
Tomato products company in Brazil | ' | ' | ' |
Goodwill | ' | ' | ' |
Reduction in goodwill | ' | 13 | ' |
Increase in finite-lived intangibles | ' | 14 | ' |
Reduction in inventory | ' | 6 | ' |
Reduction in deferred tax liabilities | ' | 5 | ' |
Subsidiary | Brazil | ' | ' | ' |
Goodwill | ' | ' | ' |
Reduced goodwill after utilizing tax benefits attributable to the excess tax | 0 | ' | ' |
Reduced other intangible assets after utilizing tax benefits attributable to the excess tax | 0 | ' | ' |
Agribusiness | ' | ' | ' |
Goodwill | ' | ' | ' |
Goodwill, gross at beginning of period | 197 | 216 | ' |
Reallocation of acquired goodwill | ' | -1 | ' |
Tax benefit on goodwill amortization | -5 | -6 | ' |
Foreign exchange translation | -18 | -12 | ' |
Goodwill, gross at end of period | 174 | 197 | ' |
Goodwill | 174 | 197 | 216 |
Sugar and Bioenergy | ' | ' | ' |
Goodwill | ' | ' | ' |
Goodwill, gross at beginning of period | ' | 560 | ' |
Goodwill acquired | ' | 7 | ' |
Impairment | ' | -514 | ' |
Foreign exchange translation | ' | -53 | ' |
Goodwill, gross at end of period | 514 | 514 | ' |
Accumulated impairment losses at end of period | -514 | -514 | ' |
Impairment charge, net of tax | ' | 339 | ' |
Goodwill | ' | ' | 560 |
Edible oil products | ' | ' | ' |
Goodwill | ' | ' | ' |
Goodwill, gross at beginning of period | 101 | 110 | ' |
Reallocation of acquired goodwill | ' | -13 | ' |
Foreign exchange translation | -2 | 4 | ' |
Goodwill, gross at end of period | 99 | 101 | ' |
Goodwill | 99 | 101 | 110 |
Milling products | ' | ' | ' |
Goodwill | ' | ' | ' |
Goodwill, gross at beginning of period | 54 | 9 | ' |
Accumulated impairment losses at beginning of period | -3 | -3 | ' |
Goodwill acquired | 67 | 45 | ' |
Foreign exchange translation | -1 | ' | ' |
Goodwill, gross at end of period | 120 | 54 | ' |
Accumulated impairment losses at end of period | -3 | -3 | ' |
Goodwill | 117 | 51 | 6 |
Fertilizer | ' | ' | ' |
Goodwill | ' | ' | ' |
Goodwill, gross at beginning of period | ' | 1 | ' |
Reallocation of acquired goodwill | ' | 1 | ' |
Goodwill, gross at end of period | 2 | 2 | ' |
Goodwill | $2 | $2 | $1 |
Other_Intangible_Assets_Detail
Other Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets, gross | $508 | $437 | ' |
Less accumulated amortization | -182 | -142 | ' |
Intangible assets, net of accumulated amortization | 326 | 295 | ' |
Aggregate amortization expense | 44 | 34 | 29 |
Estimated future aggregate amortization expense, year one | 30 | ' | ' |
Estimated future aggregate amortization expense, year two | 30 | ' | ' |
Estimated future aggregate amortization expense, year three | 30 | ' | ' |
Estimated future aggregate amortization expense, year four | 30 | ' | ' |
Estimated future aggregate amortization expense, year five | 30 | ' | ' |
Subsidiary | Brazil | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Reduced goodwill after utilizing tax benefits attributable to the excess tax | 0 | ' | ' |
Reduced other intangible assets after utilizing tax benefits attributable to the excess tax | 0 | ' | ' |
2013 Acquisitions | Minimum | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-Lived intangible assets, Useful Life | '5 years | ' | ' |
2013 Acquisitions | Maximum | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-Lived intangible assets, Useful Life | '20 years | ' | ' |
2012 Acquisitions | Minimum | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-Lived intangible assets, Useful Life | ' | '5 years | ' |
2012 Acquisitions | Maximum | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-Lived intangible assets, Useful Life | ' | '20 years | ' |
Agribusiness | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets | 40 | 45 | ' |
Edible Oils Products | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets | ' | 52 | ' |
Milling Products | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets | ' | 32 | ' |
Food and Ingredients [Member] | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets | 51 | ' | ' |
Sugar and Bioenergy | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets | 10 | 1 | ' |
Trademarks/brands | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets, gross | 210 | 214 | ' |
Less accumulated amortization | -63 | -59 | ' |
Finite-lived intangible assets | 10 | 59 | ' |
Licenses | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets, gross | 12 | 11 | ' |
Less accumulated amortization | -5 | -4 | ' |
Other intangibles | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets, gross | 286 | 212 | ' |
Less accumulated amortization | -114 | -79 | ' |
Finite-lived intangible assets | 81 | 71 | ' |
Customer lists | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets | 39 | 15 | ' |
Developed technology | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets | 1 | 22 | ' |
Favorable contractual arrangements | ' | ' | ' |
Other Intangible Assets, Net | ' | ' | ' |
Finite-lived intangible assets | $41 | $23 | ' |
Impairments_Details
Impairments (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Impairment | ' | ' | ' |
Affiliate loans impairment losses | $3 | $30 | ' |
Impairment charges | 35 | 574 | 3 |
Impairment of investment in affiliate losses | 2 | 19 | ' |
Cost of goods sold | ' | ' | ' |
Impairment | ' | ' | ' |
Impairment charges | 21 | ' | ' |
Selling, general and administrative costs | ' | ' | ' |
Impairment | ' | ' | ' |
Affiliate loans impairment losses | ' | 30 | ' |
Impairment charges | 10 | ' | ' |
Other income (expense) - net | ' | ' | ' |
Impairment | ' | ' | ' |
Impairment charges | 3 | ' | ' |
Impairment of investment in affiliate losses | ' | 19 | ' |
Sugar and Bioenergy | ' | ' | ' |
Impairment | ' | ' | ' |
Affiliate loans and investments in affiliates impairment losses | ' | 39 | ' |
Impairment of several agricultural, industrial assets and other fixed assets | 24 | ' | ' |
Sugar and Bioenergy | Selling, general and administrative costs | ' | ' | ' |
Impairment | ' | ' | ' |
Affiliate loans impairment losses | ' | 29 | ' |
Sugar and Bioenergy | Other income (expense) - net | ' | ' | ' |
Impairment | ' | ' | ' |
Impairment of investment in affiliate losses | ' | 10 | ' |
Agribusiness | ' | ' | ' |
Impairment | ' | ' | ' |
Affiliate loans and investments in affiliates impairment losses | ' | 10 | ' |
Agribusiness | Selling, general and administrative costs | ' | ' | ' |
Impairment | ' | ' | ' |
Affiliate loans impairment losses | ' | 1 | ' |
Agribusiness | Other income (expense) - net | ' | ' | ' |
Impairment | ' | ' | ' |
Impairment of investment in affiliate losses | ' | $9 | ' |
Impairments_Details_2
Impairments (Details 2) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Impairment And Restructuring Charges | ' | ' |
Non-current assets held for sale impairment losses | ($2) | ' |
Affiliate loans impairment losses | -3 | -30 |
Investment in affiliates impairment losses | -2 | -19 |
Property, plant and equipment, impairment losses | -22 | ' |
Goodwill impairment (Note 8) | ' | -514 |
Total fair value | Non-recurring fair value measurements | ' | ' |
Impairment And Restructuring Charges | ' | ' |
Non-current assets held for sale | 1 | ' |
Affiliate Loans | 4 | 15 |
Investment in affiliates | ' | 31 |
Property, plant and equipment | 4 | ' |
Level 3 | Non-recurring fair value measurements | ' | ' |
Impairment And Restructuring Charges | ' | ' |
Non-current assets held for sale | 1 | ' |
Affiliate Loans | 4 | 15 |
Investment in affiliates | ' | 31 |
Property, plant and equipment | $4 | ' |
Investments_in_Affiliates_Deta
Investments in Affiliates (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Agribusiness | Agribusiness | Agribusiness | Augustea Bunge Maritime Ltd | Sugar and Bioenergy | Sugar and Bioenergy | Sugar and Bioenergy | Solazyme Incorporated | Fertilizer | Fertilizer | Milling Products | Bunge-SCF Grain, LLC | Caiasa - Complejo Agroindustrial Angostura S.A | Diester Industries International S.A.S. | T6 port facility | T6 Industrial crushing facility | Bunge Ergon Vicksburg, LLC | ProMaiz | Southwest Iowa Renewable Energy, LLC | Bunge Maroc Phosphore S.A. | ||||
Agribusiness | Agribusiness | Agribusiness | Agribusiness | Agribusiness | Sugar and Bioenergy | Sugar and Bioenergy | |||||||||||||||||
Investments in Affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of ownership interest (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | 50.00% |
Proceeds from sale of investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10 | ' | ' | $37 |
Pre-tax gain on sale of equity method investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | 1 |
Ownership percentage in equity method investee | ' | ' | ' | ' | ' | ' | 49.15% | ' | ' | ' | 49.90% | ' | ' | ' | 50.00% | 33.33% | 40.00% | 40.00% | 50.00% | ' | 50.00% | 25.00% | ' |
Impairment of investment in affiliate | 2 | 19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments in affiliates (Note 11) | $241 | $273 | $600 | $185 | $195 | $506 | ' | $56 | $37 | $18 | ' | $41 | $62 | $14 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other_NonCurrent_Assets_Detail
Other Non-Current Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Non-Current Assets | ' | ' | ' |
Recoverable taxes, net | $283 | $309 | ' |
Long-term receivables from farmers in Brazil, net | 134 | 164 | ' |
Judicial deposits | 153 | 169 | ' |
Other long-term receivables | 40 | 60 | ' |
Income taxes receivable | 304 | 431 | ' |
Long-term investments | 296 | 414 | ' |
Affiliate loan receivable, net | 25 | 59 | ' |
Other | 130 | 140 | ' |
Total | 1,365 | 1,746 | ' |
Allowance for recoverable taxes | 57 | 47 | ' |
Minimum | ' | ' | ' |
Recorded Investment | ' | ' | ' |
Period of realization | '5 years | ' | ' |
Long-term receivables | ' | ' | ' |
Recorded Investment | ' | ' | ' |
Long-term receivables from farmers in Brazil | 330 | 388 | ' |
Average recorded investment in long-term receivables | 363 | 444 | ' |
Allowance | 196 | 224 | 199 |
Long-term receivables | Legal collection processes | ' | ' | ' |
Recorded Investment | ' | ' | ' |
For which an allowance has been provided: | 139 | 178 | ' |
For which no allowance has been provided: | 74 | 91 | ' |
Long-term receivables from farmers in Brazil | 213 | 269 | ' |
Allowance | 132 | 165 | ' |
Long-term receivables | Renegotiated amounts | ' | ' | ' |
Recorded Investment | ' | ' | ' |
For which an allowance has been provided: | 84 | 67 | ' |
For which no allowance has been provided: | 33 | 52 | ' |
Long-term receivables from farmers in Brazil | 117 | 119 | ' |
Allowance | $64 | $59 | ' |
Other_NonCurrent_Assets_Detail1
Other Non-Current Assets (Details 2) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Affiliate loans receivable, net | ' | ' |
Minimum initial maturity of affiliate loans receivable | '1 year | ' |
Level 3 | Assets management business in Europe | ' | ' |
Long-term investments | ' | ' |
Consolidated funds' investments | $238 | $349 |
Long-term receivables | ' | ' |
Allowance for Doubtful Accounts Related to Long Term Receivables | ' | ' |
Balance at the beginning of the period | 224 | 199 |
Bad debt provision | 23 | 92 |
Recoveries | -24 | -19 |
Write-offs | -3 | -29 |
Transfers | 5 | -1 |
Foreign exchange translation | -29 | -18 |
Balance at the end of the period | $196 | $224 |
Other_Current_Liabilities_Deta
Other Current Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Other Current Liabilities | ' | ' |
Accrued liabilities | $940 | $968 |
Unrealized losses on derivative contracts, at fair value | 1,401 | 1,185 |
Advances on sales | 330 | 223 |
Other | 347 | 118 |
Total | $3,018 | $2,494 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Components of Income From Operations Before Income Tax | ' | ' | ' |
United States | $179 | $215 | $77 |
Non-United States | 835 | 157 | 943 |
Income from continuing operations before income tax | 1,014 | 372 | 1,020 |
Current: | ' | ' | ' |
United States | -33 | -87 | -12 |
Non-United States | -411 | -128 | -238 |
Total | -444 | -215 | -250 |
Deferred: | ' | ' | ' |
United States | -18 | 22 | -29 |
Non-United States | -442 | 199 | 224 |
Total | -460 | 221 | 195 |
Income tax (expense) benefit | -904 | 6 | -55 |
Uncertain tax benefits | 32 | 7 | 19 |
Reconciliation of Income Tax (Expense) Benefit | ' | ' | ' |
Income from continuing operations before income tax | 1,014 | 372 | 1,020 |
Income tax rate (as a percent) | 35.00% | 35.00% | 35.00% |
Income tax expense at the U.S. Federal tax rate | -355 | -130 | -357 |
Adjustments to Derive Effective Tax Rate: | ' | ' | ' |
Foreign earnings taxed at different statutory rates | 30 | 47 | 342 |
Valuation allowances | -642 | -1 | 7 |
Goodwill amortization | 1 | 29 | 43 |
Fiscal incentives | 48 | 51 | 46 |
Foreign exchange on monetary items | -13 | -12 | 1 |
Tax rate changes | -5 | 23 | -4 |
Non-deductible expenses | -44 | -6 | -3 |
Uncertain tax positions | -32 | 4 | -18 |
Deferred balance adjustments | -52 | -56 | ' |
Foreign income taxed in Brazil | 136 | 46 | -108 |
Other | 24 | 11 | -4 |
Income tax (expense) benefit | ($904) | $6 | ($55) |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Deferred Income Tax Assets: | ' | ' |
Net operating loss carryforwards | $1,120 | $959 |
Property, plant and equipment | 90 | 49 |
Employee benefits | 68 | 90 |
Tax credit carryforwards | 10 | 7 |
Inventories | 49 | 17 |
Intangibles | 263 | 258 |
Accrued expenses and other | 791 | 589 |
Total deferred income tax assets | 2,391 | 1,969 |
Less valuation allowances | -1,048 | -455 |
Deferred income tax assets, net of valuation allowance | 1,343 | 1,514 |
Deferred Income Tax Liabilities: | ' | ' |
Property, plant and equipment | 277 | 84 |
Undistributed earnings of affiliates not considered permanently reinvested | 22 | 26 |
Intangibles | 115 | 65 |
Investments | 97 | 127 |
Inventories | 70 | 60 |
Accrued expenses and other | 260 | 1 |
Total deferred income tax liabilities | 841 | 363 |
Net deferred income tax assets | 502 | 1,151 |
Deferred tax liability related to unremitted earnings not considered indefinitely reinvested | 22 | 26 |
Deferred tax liability related to unremitted earnings considered indefinitely reinvested | $971 | ' |
Income_Taxes_Details_3
Income Taxes (Details 3) | 12 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
USD ($) | USD ($) | USD ($) | Tax claims | Tax claims | Tax claims | Tax claims | Brazil | Brazil | Brazil | Brazil | Brazil | Brazil | |
Argentina | Argentina | Argentina | Argentina | USD ($) | Minimum | Income tax examination 2009 | Income tax examination 2009 | Income tax examination 2009 | Income tax examination 2009 | ||||
USD ($) | ARS | USD ($) | ARS | USD ($) | BRL | USD ($) | BRL | ||||||
Income Tax Examination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-tax loss carryforwards | $5,055 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indefinite-lived loss carryforwards | 2,960 | ' | ' | ' | ' | ' | ' | 2,272 | ' | ' | ' | ' | ' |
Maximum percentage of annual utilization of carryforward of loss | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' |
Period of realization loss carryforwards | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' |
Valuation allowances | 1,048 | 455 | ' | ' | ' | ' | ' | 512 | ' | ' | ' | ' | ' |
Increase (Decrease) in income tax expense due to change in deferred tax valuation allowances | ' | ' | ' | ' | ' | ' | ' | 464 | ' | ' | ' | ' | ' |
Uncertain tax positions, non-current | 169 | 98 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Uncertain tax positions, current | 2 | 10 | ' | ' | ' | ' | ' | ' | ' | 82 | ' | 23 | ' |
Interest and penalty (expense) benefit | -10 | -1 | -3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest and penalties | 20 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of Unrecognized Tax Benefits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at the beginning of the period | 104 | 113 | 102 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additions based on tax positions related to the current year | 22 | 11 | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additions based on tax positions related to prior years | 48 | 8 | 14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reductions for tax positions of prior years | -1 | -2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement or clarification from tax authorities | ' | -3 | -4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration of statute of limitations | -21 | -22 | -2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation | -1 | -1 | -6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at the end of the period | 151 | 104 | 113 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additions related to business acquisitions completed during the current year | 17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits, recognized by the end of 2014 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total proposed adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 603 | 1,410 | 181 | 370 |
Argentine estimated tax claim | ' | ' | ' | 67 | 436 | 89 | 436 | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | 115 | 750 | 121 | 593 | ' | ' | ' | ' | ' | ' |
Cash income tax payments | $156 | $325 | $277 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial_Instruments_and_Fair2
Financial Instruments and Fair Value Measurements (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets | ' | ' |
Unrealized gain on derivative contracts | $1,561 | $1,230 |
Deferred purchase price receivable | 96 | 134 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 1,401 | 1,185 |
Other non-current assets | ' | ' |
Unrealized gains on designated and undesignated derivative contracts | ' | ' |
Unrealized gains on derivative contracts | 0 | 0 |
Other non-current liabilities | ' | ' |
Unrealized gains on designated and undesignated derivative contracts | ' | ' |
Unrealized gains on derivative contracts | 0 | 0 |
Assets and liabilities measured at fair value on a recurring basis | Level 1 | ' | ' |
Assets | ' | ' |
Other | 59 | 234 |
Total assets | 542 | 304 |
Liabilities | ' | ' |
Total liabilities | 458 | 199 |
Assets and liabilities measured at fair value on a recurring basis | Level 1 | Undesignated derivative contracts | Foreign exchange | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 5 | ' |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 5 | 1 |
Assets and liabilities measured at fair value on a recurring basis | Level 1 | Undesignated derivative contracts | Commodities | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 408 | 61 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 361 | 153 |
Assets and liabilities measured at fair value on a recurring basis | Level 1 | Undesignated derivative contracts | Freight | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 59 | ' |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 81 | 3 |
Assets and liabilities measured at fair value on a recurring basis | Level 1 | Undesignated derivative contracts | Energy Derivatives | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 11 | 9 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 11 | 42 |
Assets and liabilities measured at fair value on a recurring basis | Level 2 | ' | ' |
Assets | ' | ' |
Readily marketable inventories | 4,041 | 4,815 |
Trade accounts receivable | 5 | 3 |
Deferred purchase price receivable | 96 | 134 |
Other | 22 | 32 |
Total assets | 5,102 | 5,878 |
Liabilities | ' | ' |
Trade accounts payable | 381 | 378 |
Total liabilities | 1,204 | 1,164 |
Assets and liabilities measured at fair value on a recurring basis | Level 2 | Designated derivative contracts | Foreign exchange | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 7 | 1 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 11 | ' |
Assets and liabilities measured at fair value on a recurring basis | Level 2 | Undesignated derivative contracts | Foreign exchange | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 346 | 194 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 373 | 119 |
Assets and liabilities measured at fair value on a recurring basis | Level 2 | Undesignated derivative contracts | Commodities | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 585 | 697 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 439 | 667 |
Assets and liabilities measured at fair value on a recurring basis | Level 2 | Undesignated derivative contracts | Energy Derivatives | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | ' | 2 |
Assets and liabilities measured at fair value on a recurring basis | Level 3 | ' | ' |
Assets | ' | ' |
Readily marketable inventories | 298 | 436 |
Trade accounts receivable | 1 | ' |
Total assets | 439 | 702 |
Liabilities | ' | ' |
Trade accounts payable | 76 | 40 |
Total liabilities | 196 | 240 |
Assets and liabilities measured at fair value on a recurring basis | Level 3 | Undesignated derivative contracts | Commodities | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 138 | 264 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 89 | 180 |
Assets and liabilities measured at fair value on a recurring basis | Level 3 | Undesignated derivative contracts | Freight | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | ' | 1 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 14 | ' |
Assets and liabilities measured at fair value on a recurring basis | Level 3 | Undesignated derivative contracts | Energy Derivatives | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 2 | 1 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 17 | 20 |
Assets and liabilities measured at fair value on a recurring basis | Fair Value | ' | ' |
Assets | ' | ' |
Readily marketable inventories | 4,339 | 5,251 |
Trade accounts receivable | 6 | 3 |
Deferred purchase price receivable | 96 | 134 |
Other | 81 | 266 |
Total assets | 6,083 | 6,884 |
Liabilities | ' | ' |
Trade accounts payable | 457 | 418 |
Total liabilities | 1,858 | 1,603 |
Trade accounts receivable related to certain delivered inventory accounted for at prices that fluctuate based on changes in commodity prices and for which no payments had been received | 6 | 3 |
Trade accounts payable related to certain delivered inventory accounted for at prices that fluctuate based on changes in commodity prices and for which no payments had been made | 457 | 418 |
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Designated derivative contracts | Foreign exchange | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 7 | 1 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 11 | ' |
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Foreign exchange | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 351 | 194 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 378 | 120 |
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Commodities | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 1,131 | 1,022 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 889 | 1,000 |
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Freight | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 59 | 1 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | 95 | 3 |
Assets and liabilities measured at fair value on a recurring basis | Fair Value | Undesignated derivative contracts | Energy Derivatives | ' | ' |
Assets | ' | ' |
Unrealized gain on derivative contracts | 13 | 12 |
Liabilities | ' | ' |
Unrealized loss on derivative contracts | $28 | $62 |
Financial_Instruments_and_Fair3
Financial Instruments and Fair Value Measurements (Details 2) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | ' | ' |
Balance at beginning of period | $462 | $281 |
Total gains and losses (realized/unrealized) included in cost of goods sold | -133 | -121 |
Purchases | 1,844 | 1,662 |
Sales | -2,243 | -2,279 |
Issuances | -125 | -114 |
Settlements | -149 | -121 |
Transfers into Level 3 | 912 | 1,434 |
Transfers out of Level 3 | -325 | -280 |
Balance at end of period | 243 | 462 |
Cost of goods sold | ' | ' |
Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | ' | ' |
Changes in unrealized gains and (losses) relating to assets and liabilities | 197 | 243 |
Derivatives, net | ' | ' |
Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | ' | ' |
Balance at beginning of period | 66 | -2 |
Total gains and losses (realized/unrealized) included in cost of goods sold | 49 | 199 |
Purchases | -1 | 3 |
Sales | 1 | 3 |
Issuances | -10 | -4 |
Settlements | -228 | -191 |
Transfers into Level 3 | 152 | 16 |
Transfers out of Level 3 | -9 | 42 |
Balance at end of period | 20 | 66 |
Derivatives, net | Cost of goods sold | ' | ' |
Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | ' | ' |
Changes in unrealized gains and (losses) relating to assets and liabilities | 135 | 59 |
Readily marketable inventories | ' | ' |
Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | ' | ' |
Balance at beginning of period | 436 | 283 |
Total gains and losses (realized/unrealized) included in cost of goods sold | -182 | -320 |
Purchases | 1,845 | 1,659 |
Sales | -2,245 | -2,282 |
Transfers into Level 3 | 760 | 1,418 |
Transfers out of Level 3 | -316 | -322 |
Balance at end of period | 298 | 436 |
Readily marketable inventories | Cost of goods sold | ' | ' |
Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | ' | ' |
Changes in unrealized gains and (losses) relating to assets and liabilities | 101 | 202 |
Trade Accounts Receivable/Payable, Net | ' | ' |
Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | ' | ' |
Balance at beginning of period | -40 | ' |
Sales | 1 | ' |
Issuances | -115 | -110 |
Settlements | 79 | 70 |
Balance at end of period | -75 | -40 |
Trade Accounts Receivable/Payable, Net | Cost of goods sold | ' | ' |
Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | ' | ' |
Changes in unrealized gains and (losses) relating to assets and liabilities | ($39) | ($18) |
Financial_Instruments_and_Fair4
Financial Instruments and Fair Value Measurements (Details 3) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest rate swap | ' | ' | ' |
Derivative | ' | ' | ' |
Notional amounts of open foreign exchange positions | $0 | $0 | ' |
Foreign Exchange | Options | Exchange traded net short | ' | ' | ' |
Derivative | ' | ' | ' |
Delta amount of open foreign exchange positions | 26 | ' | ' |
Foreign Exchange | Options | Non-exchange traded short position | ' | ' | ' |
Derivative | ' | ' | ' |
Delta amount of open foreign exchange positions | 2 | ' | ' |
Foreign Exchange | Options | Non-exchange traded long position | ' | ' | ' |
Derivative | ' | ' | ' |
Delta amount of open foreign exchange positions | 2 | ' | ' |
Foreign Exchange | Forwards | Exchange traded net long | ' | ' | ' |
Derivative | ' | ' | ' |
Notional amounts of open foreign exchange positions | 3 | ' | ' |
Foreign Exchange | Forwards | Non-exchange traded short position | ' | ' | ' |
Derivative | ' | ' | ' |
Notional amounts of open foreign exchange positions | 15,951 | ' | ' |
Foreign Exchange | Forwards | Non-exchange traded long position | ' | ' | ' |
Derivative | ' | ' | ' |
Notional amounts of open foreign exchange positions | 20,719 | ' | ' |
Foreign Exchange | Swaps | Non-exchange traded short position | ' | ' | ' |
Derivative | ' | ' | ' |
Notional amounts of open foreign exchange positions | 129 | ' | ' |
Foreign Exchange | Swaps | Non-exchange traded long position | ' | ' | ' |
Derivative | ' | ' | ' |
Notional amounts of open foreign exchange positions | 121 | ' | ' |
Commodities | ' | ' | ' |
Derivative | ' | ' | ' |
Maximum period of commodity contracts for sale of agricultural commodity | '1 year | ' | ' |
Commodities | Futures | Exchange traded net short | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 7,517,109 | ' | ' |
Commodities | Options | Exchange traded net short | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 333,796 | ' | ' |
Commodities | Forwards | Non-exchange traded short position | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 33,142,299 | ' | ' |
Commodities | Forwards | Non-exchange traded long position | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 27,823,848 | ' | ' |
Commodities | Swaps | Non-exchange traded short position | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 486,211 | ' | ' |
Commodities | Swaps | Non-exchange traded long position | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 39,735 | ' | ' |
Freight | Options | Exchange cleared net short | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 2,082 | ' | ' |
Freight | Forwards | Exchange cleared net short | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 7,660 | ' | ' |
Natural Gas | Futures | Exchange traded net long | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 4,096,009 | ' | ' |
Natural Gas | Options | Exchange traded net short | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 6,015,361 | ' | ' |
Natural Gas | Swaps | Non-exchange traded long position | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 687,204 | ' | ' |
Energy - other | Futures | Exchange traded net long | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 2,417,741 | ' | ' |
Energy - other | Options | Exchange traded net short | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 318 | ' | ' |
Energy - other | Forwards | Non-exchange traded short position | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 47,055 | ' | ' |
Energy - other | Forwards | Non-exchange traded long position | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 38,239,063 | ' | ' |
Energy - other | Swaps | Exchange traded net long | ' | ' | ' |
Derivative | ' | ' | ' |
Nonmonetary notional amount of derivatives | 275,000 | ' | ' |
Discontinued hedge relationship | Interest rate swap | ' | ' | ' |
Derivative | ' | ' | ' |
Reduction of interest expense due to amortization of deferred gains on termination of interest rate swap agreements | 20 | 20 | 13 |
Designated hedges | Freight | ' | ' | ' |
Derivative | ' | ' | ' |
Notional amounts of open foreign exchange positions | $0 | $0 | ' |
Financial_Instruments_and_Fair5
Financial Instruments and Fair Value Measurements (Details 4) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments, Gain (Loss) | ' | ' |
Gain or (Loss) Recognized in Income on Undesignated Derivative Contracts | $230 | ($701) |
Interest rate swap | ' | ' |
Summary of Cash Flow and Net Investment Hedges | ' | ' |
Notional Amount | 0 | 0 |
Interest rate swap | Other income (expenses)-net | ' | ' |
Derivative Instruments, Gain (Loss) | ' | ' |
Gain or (Loss) Recognized in Income on Undesignated Derivative Contracts | -7 | 1 |
Foreign exchange | Foreign exchange gains (losses) | ' | ' |
Derivative Instruments, Gain (Loss) | ' | ' |
Gain or (Loss) Recognized in Income on Undesignated Derivative Contracts | -229 | -135 |
Foreign exchange | Income (loss) from discontinued operations, net of tax | ' | ' |
Derivative Instruments, Gain (Loss) | ' | ' |
Gain or (Loss) Recognized in Income on Undesignated Derivative Contracts | ' | 8 |
Foreign exchange | Cost of goods sold | ' | ' |
Derivative Instruments, Gain (Loss) | ' | ' |
Gain or (Loss) Recognized in Income on Undesignated Derivative Contracts | -165 | -7 |
Commodities | Cost of goods sold | ' | ' |
Derivative Instruments, Gain (Loss) | ' | ' |
Gain or (Loss) Recognized in Income on Undesignated Derivative Contracts | 651 | -561 |
Freight | Cost of goods sold | ' | ' |
Derivative Instruments, Gain (Loss) | ' | ' |
Gain or (Loss) Recognized in Income on Undesignated Derivative Contracts | -20 | -1 |
Energy Derivatives | Cost of goods sold | ' | ' |
Derivative Instruments, Gain (Loss) | ' | ' |
Gain or (Loss) Recognized in Income on Undesignated Derivative Contracts | ' | -6 |
Cash flow hedges | ' | ' |
Summary of Cash Flow and Net Investment Hedges | ' | ' |
Notional Amount | 344 | 190 |
Gain or (Loss) Recognized in Accumulated OCI | -22 | 5 |
Cash flow hedges | Foreign exchange gains (losses) | ' | ' |
Summary of Cash Flow and Net Investment Hedges | ' | ' |
Gain or (Loss) Reclassified from Accumulated OCI into Income | -12 | -6 |
Cash flow hedges | Foreign exchange | ' | ' |
Summary of Cash Flow and Net Investment Hedges | ' | ' |
Notional Amount | 344 | 190 |
Gain or (Loss) Recognized in Accumulated OCI | -22 | 5 |
Gain or (loss) expected to be reclassified from accumulated OCI into income in the next 12 months | -22 | 5 |
Cash flow hedges | Foreign exchange | Foreign exchange gains (losses) | ' | ' |
Summary of Cash Flow and Net Investment Hedges | ' | ' |
Gain or (Loss) Reclassified from Accumulated OCI into Income | -12 | -6 |
Gain (loss) recognized in income which relates to the ineffective portion of the hedging relationships | 0 | 0 |
Amount of gain or (loss) excluded from the assessment of hedge effectiveness | 0 | 0 |
Net investment hedges | ' | ' |
Summary of Cash Flow and Net Investment Hedges | ' | ' |
Notional Amount | 560 | ' |
Gain or (Loss) Recognized in Accumulated OCI | 22 | ' |
Net investment hedges | Foreign exchange | ' | ' |
Summary of Cash Flow and Net Investment Hedges | ' | ' |
Notional Amount | 560 | ' |
Gain or (Loss) Recognized in Accumulated OCI | 22 | ' |
Gain or (loss) expected to be reclassified from accumulated OCI into income in the next 12 months | 0 | ' |
Designated as hedging instrument | Freight | ' | ' |
Summary of Cash Flow and Net Investment Hedges | ' | ' |
Notional Amount | $0 | $0 |
ShortTerm_Debt_and_Credit_Faci2
Short-Term Debt and Credit Facilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 31, 2013 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Unsecured short-term line of credit | Unsecured short-term line of credit | Unsecured short-term line of credit | Unsecured short-term line of credit | Unsecured short-term line of credit | Unsecured short-term line of credit | Unsecured Local Borrowings in High Interest Rate Jurisdictions | Unsecured Local Borrowings in High Interest Rate Jurisdictions | Bilateral short-term credit line | Local bank lines of credit | Liquidity facility | Liquidity facility | Commercial paper program | ||
Maximum | Maximum | Minimum | Minimum | ||||||||||||
Lines of Credit: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings weighted-average interest rate (as a percent) | 6.99% | 6.59% | ' | ' | ' | ' | ' | ' | 14.91% | 18.78% | ' | ' | ' | ' | ' |
Total short-term debt | $703 | $1,598 | $703 | $1,598 | ' | ' | ' | ' | $285 | $378 | $120 | $395 | ' | ' | ' |
Unsecured short-term line of credit percentage rate | ' | ' | ' | ' | 30.00% | 30.00% | 0.37% | 0.37% | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity, before increase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 526 | ' |
Credit facility, borrowings outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | $100 |
LongTerm_Debt_Details
Long-Term Debt (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | 30-May-13 | Dec. 31, 2013 | 30-May-13 | 30-May-13 | 30-May-13 | 30-May-13 | Jun. 24, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 24, 2013 | Jun. 24, 2013 | Nov. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Nov. 30, 2013 | Nov. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | 30-May-13 |
In Millions, unless otherwise specified | Subsidiaries | Syndicated revolving credit agreement | Syndicated revolving credit agreement | Syndicated revolving credit agreement | Syndicated revolving credit agreement | Syndicated revolving credit agreement | Syndicated revolving credit agreement | Three-year revolving credit agreement | Three-year revolving credit agreement | Three-year revolving credit agreement | Three-year revolving credit agreement | Three-year revolving credit agreement | Bilateral three-year revolving credit | Bilateral three-year revolving credit | Bilateral three-year revolving credit | Bilateral three-year revolving credit | Bilateral three-year revolving credit | Level 2 | Level 2 | Level 3 | Level 3 | Revolving credit facilities | Term loan due 2013 - fixed interest rate of 3.32% (Tranche A) | Term loan due 2013-variable interest rate of LIBOR plus 1.38% (Tranche B) | Term loan due 2013-variable interest rate of LIBOR plus 1.38% (Tranche B) | 5.875% senior notes due 2013 | 5.35% senior notes due 2014 | 5.35% senior notes due 2014 | 5.10% senior notes due 2015 | 5.10% senior notes due 2015 | 4.10% senior notes due 2016 | 4.10% senior notes due 2016 | 3.20% senior notes due 2017 | 3.20% senior notes due 2017 | 5.90% senior notes due 2017 | 5.90% senior notes due 2017 | 8.50% senior notes due 2019 | 8.50% senior notes due 2019 | BNDES loans, variable interest rate indexed to TJLP plus 3.20% payable through 2016 | BNDES loans, variable interest rate indexed to TJLP plus 3.20% payable through 2016 | BNDES loans, variable interest rate indexed to TJLP plus 3.20% payable through 2016 | BNDES loans, variable interest rate indexed to TJLP plus 3.20% payable through 2016 | Other | Other | Line of credit facility lender | Term loan | ||
Collateralized debt obligations | Applicable Margin | Minimum | Minimum | Maximum | Maximum | Applicable Margin | Minimum | Maximum | item | Minimum | Maximum | TJLP interest rate | TJLP interest rate | |||||||||||||||||||||||||||||||||||
Applicable Margin | Applicable Margin | Applicable Margin | Applicable Margin | |||||||||||||||||||||||||||||||||||||||||||||
Debt Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.32% | ' | ' | 5.88% | 5.35% | 5.35% | 5.10% | 5.10% | 4.10% | 4.10% | 3.20% | 3.20% | 5.90% | 5.90% | 8.50% | 8.50% | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, including current portion, carrying value | ' | ' | $198 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300 | ' | $100 | $300 | $500 | $500 | $382 | $382 | $500 | $500 | $600 | $600 | $250 | $250 | $600 | $600 | $27 | $42 | ' | ' | $348 | $323 | ' | $300 |
Long-term debt, including current portion, carrying value excluding non-recourse debt | 3,607 | 3,897 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less: Current portion of long term debt | -762 | -719 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt excluding non-recourse debt | 2,845 | 3,178 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated non-recourse investment fund debt | 334 | 354 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt | 3,179 | 3,532 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reference rate for variable rate basis | ' | ' | ' | ' | 'LIBOR | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | ' | ' | 'LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'TJLP | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, interest rate added to variable base rate (as a percent) | ' | ' | ' | ' | ' | ' | 1.05% | ' | 1.68% | ' | ' | ' | 0.90% | 1.55% | ' | ' | ' | 0.90% | 1.55% | ' | ' | ' | ' | ' | ' | ' | 1.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.20% | 3.20% | ' | ' | ' | ' | ' | ' |
Debt Disclosures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, borrowings outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200 | ' | ' | ' | ' | 200 | ' | ' | ' | ' | ' | ' | ' | 400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annualized TJLP rate published by Brazilian government (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 5.00% | ' | ' | ' | ' |
Long term debt including non-recourse debt and current potion | 3,941 | 4,251 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion of nonrecourse investment fund debt at fair value | 257 | 259 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt including current portion and non-recourse debt, fair value | 4,174 | 4,581 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,917 | 4,322 | 257 | 259 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of debt instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity | ' | ' | ' | 665 | ' | ' | ' | ' | ' | 200 | ' | ' | ' | ' | 700 | ' | 700 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of credit agreement | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial commitment | ' | ' | ' | 368 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment fee (as a percent) | ' | ' | ' | ' | ' | 0.13% | ' | 0.28% | ' | 0.25% | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Long-Term Debt Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument unused and available borrowing capacity amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,800 | ' |
Land, property, equipment and investments mortgaged, net carrying value | ' | ' | $242 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Details_2
Long-Term Debt (Details 2) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Principal Maturities of Long-Term Debt | ' | ' | ' |
2014 | $760 | ' | ' |
2015 | 523 | ' | ' |
2016 | 921 | ' | ' |
2017 | 859 | ' | ' |
2018 | 11 | ' | ' |
Thereafter | 842 | ' | ' |
Total | 3,916 | ' | ' |
Debt Disclosures | ' | ' | ' |
Unamortized gain on interest rate swaps recorded in long-term portion of debt | 25 | ' | ' |
Interest paid, net of capitalization | $330 | $259 | $208 |
Trade_Receivables_Securitizati1
Trade Receivables Securitization Program (Details) (USD $) | 7 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts Receivable Securitization Facilities Disclosures | ' | ' | ' | ' |
Extension period for each committed purchaser's commitment | ' | '364 days | ' | ' |
Bunge Securitization B.V. | ' | ' | ' | ' |
Accounts Receivable Securitization Facilities Disclosures | ' | ' | ' | ' |
Trade receivables securitization program | ' | $700 | ' | ' |
Receivables sold under securitization facility derecognized during the period | ' | 696 | 772 | ' |
Proceeds received in cash from transfers of receivables to purchasers | ' | 12,596 | 13,823 | ' |
Cash collections from customers on receivables previously sold | ' | 12,769 | 14,031 | ' |
Sale of accounts receivable to securitization facility | ' | 12,779 | 14,054 | ' |
Discount from sale of receivables | ' | 7 | 8 | 5 |
Risk of loss related to sale of receivables | ' | 96 | 134 | ' |
Payment term for receivables | ' | '30 days | ' | ' |
Collections on DPP | 814 | 1,465 | 1,661 | ' |
Bunge Securitization B.V. | Maximum | ' | ' | ' | ' |
Accounts Receivable Securitization Facilities Disclosures | ' | ' | ' | ' |
Percentage of receivables sold sale price whose collection is deferred | ' | 15.00% | ' | ' |
Bunge Securitization B.V. | Minimum | ' | ' | ' | ' |
Accounts Receivable Securitization Facilities Disclosures | ' | ' | ' | ' |
Percentage of receivables sold sale price whose collection is deferred | ' | 10.00% | ' | ' |
BFBV | ' | ' | ' | ' |
Accounts Receivable Securitization Facilities Disclosures | ' | ' | ' | ' |
Repurchase obligation | ' | $54 | $0 | ' |
Pension_Plans_Details
Pension Plans (Details) (U.S. and foreign pension plans, defined benefit, USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
U.S. and foreign pension plans, defined benefit | ' |
Pension Plans | ' |
Unrecognized initial net asset | $1 |
Unrecognized initial net asset, net of tax | 0 |
Unrecognized prior service cost | 5 |
Unrecognized prior service cost, net of tax | 3 |
Unrecognized actuarial loss | 102 |
Unrecognized actuarial loss, net of tax | 66 |
Prior service cost (credit) included in accumulated other comprehensive income that is expected to be recognized in net periodic benefit costs in 2014 | 1 |
Prior service cost (credit) included in accumulated other comprehensive income that is expected to be recognized in net periodic benefit costs in 2014, net of tax | 1 |
Net actuarial loss included in accumulated other comprehensive income that is expected to be recognized in net periodic benefit costs in 2014 | 4 |
Net actuarial loss included in accumulated other comprehensive income that is expected to be recognized in net periodic benefit costs in 2014, net of tax | $3 |
Pension_Plans_Details_2
Pension Plans (Details 2) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
U.S. pension benefits | ' | ' | ' |
Change in Benefit Obligations: | ' | ' | ' |
Benefit obligation at the beginning of year | $607 | $513 | ' |
Plan amendments | ' | 2 | ' |
Service cost | 21 | 18 | 15 |
Interest cost | 25 | 25 | 25 |
Plan curtailments | -2 | ' | ' |
Actuarial (gain) loss, net | -65 | 70 | ' |
Plan settlements | 3 | -3 | ' |
Benefits paid | -19 | -17 | ' |
Expenses paid | -1 | -1 | ' |
Benefit obligation at the end of year | 569 | 607 | 513 |
Change in Plan Assets: | ' | ' | ' |
Fair value of plan assets at the beginning of year | 396 | 355 | ' |
Actual return on plan assets | 53 | 48 | ' |
Employer contributions | 25 | 14 | ' |
Plan settlements | ' | -3 | ' |
Benefits paid | -19 | -17 | ' |
Expenses paid | -1 | -1 | ' |
Fair value of plan assets at the end of year | 454 | 396 | 355 |
Funded (unfunded) status and net amounts recognized: | ' | ' | ' |
Plan assets (less than) in excess of benefit obligation | -115 | -211 | ' |
Net (liability) asset recognized in the balance sheet | -115 | -211 | ' |
Amounts recognized in the balance sheet consist of: | ' | ' | ' |
Non-current assets | 7 | ' | ' |
Current liabilities | -3 | -1 | ' |
Non-current liabilities | -119 | -210 | ' |
Net liability recognized | -115 | -211 | ' |
Foreign pension benefits | ' | ' | ' |
Change in Benefit Obligations: | ' | ' | ' |
Benefit obligation at the beginning of year | 163 | 143 | ' |
Service cost | 9 | 8 | 7 |
Interest cost | 5 | 6 | 6 |
Actuarial (gain) loss, net | -5 | 15 | ' |
Employee contributions | 3 | 3 | ' |
Net transfers in (out) | -4 | ' | ' |
Plan settlements | -9 | -14 | ' |
Effect of plan combinations | 6 | ' | ' |
Benefits paid | 3 | -1 | ' |
Expenses paid | -2 | ' | ' |
Impact of foreign exchange rates | -1 | 3 | ' |
Benefit obligation at the end of year | 176 | 163 | 143 |
Change in Plan Assets: | ' | ' | ' |
Fair value of plan assets at the beginning of year | 131 | 124 | ' |
Actual return on plan assets | 8 | 7 | ' |
Employer contributions | 16 | 10 | ' |
Employee contributions | 3 | 3 | ' |
Plan settlements | -9 | -14 | ' |
Effect of plan combinations | 5 | ' | ' |
Benefits paid | 3 | -1 | ' |
Expenses paid | -2 | ' | ' |
Impact of foreign exchange rates | -4 | 2 | ' |
Fair value of plan assets at the end of year | 153 | 131 | 124 |
Funded (unfunded) status and net amounts recognized: | ' | ' | ' |
Plan assets (less than) in excess of benefit obligation | -23 | -32 | ' |
Net (liability) asset recognized in the balance sheet | -23 | -32 | ' |
Amounts recognized in the balance sheet consist of: | ' | ' | ' |
Non-current assets | 12 | 4 | ' |
Current liabilities | -2 | -2 | ' |
Non-current liabilities | -33 | -34 | ' |
Net liability recognized | ($23) | ($32) | ' |
Pension_Plans_Details_3
Pension Plans (Details 3) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
U.S. pension benefits | ' | ' | ' |
U.S. and Foreign Defined Benefit Pension Plans with Projected Benefit Obligations in Excess of Fair Value of Plan Assets | ' | ' | ' |
Projected benefit obligations | $569 | $607 | $513 |
Plans with projected benefit obligations | 498 | 607 | ' |
Excess of fair value of related plan assets | 375 | 396 | ' |
Accumulated benefit obligation | 521 | 548 | ' |
Information Relating to Aggregated U.S. and Foreign Defined Benefit Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets | ' | ' | ' |
Projected benefit obligation | 498 | 607 | ' |
Accumulated benefit obligation | 449 | 548 | ' |
Fair value of plan assets | 375 | 396 | ' |
Net Periodic Benefit Cost: | ' | ' | ' |
Service cost | 21 | 18 | 15 |
Interest cost | 25 | 25 | 25 |
Expected return on plan assets | -30 | -26 | -26 |
Amortization of prior service cost | 1 | 2 | 2 |
Amortization of net (gain) loss | 16 | 13 | 5 |
Special termination benefit | 3 | ' | ' |
Net periodic benefit cost | 36 | 32 | 21 |
Weighted-Average Assumptions to Determine Benefit Obligations | ' | ' | ' |
Discount rate (as a percent) | 5.20% | 4.20% | ' |
Increase in future compensation levels (as a percent) | 3.80% | 3.80% | ' |
Weighted-Average Assumptions to Determine the Net Periodic Benefit Cost | ' | ' | ' |
Discount rate (as a percent) | 4.20% | 5.00% | 6.00% |
Expected long term rate of return on assets (as a percent) | 7.50% | 7.50% | 8.00% |
Increase in future compensation levels (as a percent) | 3.80% | 3.80% | 4.20% |
U.S. pension benefits | Equities | ' | ' | ' |
Target Asset Allocation | ' | ' | ' |
Target asset allocation (as a percent) | 60.00% | ' | ' |
U.S. pension benefits | Fixed income securities | ' | ' | ' |
Target Asset Allocation | ' | ' | ' |
Target asset allocation (as a percent) | 40.00% | ' | ' |
Foreign pension benefits | ' | ' | ' |
U.S. and Foreign Defined Benefit Pension Plans with Projected Benefit Obligations in Excess of Fair Value of Plan Assets | ' | ' | ' |
Projected benefit obligations | 176 | 163 | 143 |
Plans with projected benefit obligations | 121 | 116 | ' |
Excess of fair value of related plan assets | 85 | 80 | ' |
Accumulated benefit obligation | 165 | 153 | ' |
Information Relating to Aggregated U.S. and Foreign Defined Benefit Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets | ' | ' | ' |
Projected benefit obligation | 38 | 54 | ' |
Accumulated benefit obligation | 36 | 52 | ' |
Fair value of plan assets | 5 | 21 | ' |
Net Periodic Benefit Cost: | ' | ' | ' |
Service cost | 9 | 8 | 7 |
Interest cost | 5 | 6 | 6 |
Expected return on plan assets | -5 | -6 | -6 |
Amortization of net (gain) loss | 3 | 1 | 1 |
Curtailment gain | 1 | ' | ' |
Settlement loss recognized | ' | 1 | ' |
Net periodic benefit cost | $13 | $10 | $8 |
Weighted-Average Assumptions to Determine Benefit Obligations | ' | ' | ' |
Discount rate (as a percent) | 3.60% | 3.30% | ' |
Increase in future compensation levels (as a percent) | 2.70% | 3.00% | ' |
Weighted-Average Assumptions to Determine the Net Periodic Benefit Cost | ' | ' | ' |
Discount rate (as a percent) | 3.30% | 4.20% | 4.40% |
Expected long term rate of return on assets (as a percent) | 4.00% | 4.60% | 5.30% |
Increase in future compensation levels (as a percent) | 3.00% | 2.70% | 2.40% |
Pension_Plans_Details_4
Pension Plans (Details 4) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Pension Plans, Estimated Future Benefit Payments | ' | ' | ' |
Employee defined contribution plans | $12 | $14 | $14 |
U.S. pension benefits | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 454 | 396 | 355 |
Estimated contribution by employer, next fiscal year | 3 | ' | ' |
Defined Benefit Pension Plans, Estimated Future Benefit Payments | ' | ' | ' |
2014 | 24 | ' | ' |
2015 | 26 | ' | ' |
2016 | 28 | ' | ' |
2017 | 31 | ' | ' |
2018 | 33 | ' | ' |
2019-2023 | 193 | ' | ' |
U.S. pension benefits | Level 1 | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 376 | 325 | ' |
U.S. pension benefits | Level 1 | Cash | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 2 | 2 | ' |
U.S. pension benefits | Level 1 | Equities mutual Funds | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 297 | 251 | ' |
U.S. pension benefits | Level 1 | Fixed income securities mutual Funds | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 77 | 72 | ' |
U.S. pension benefits | Level 2 | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 78 | 71 | ' |
U.S. pension benefits | Level 2 | Fixed income securities mutual Funds | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 78 | 71 | ' |
U.S. pension benefits | Total fair value | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 454 | 396 | ' |
U.S. pension benefits | Total fair value | Cash | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 2 | 2 | ' |
U.S. pension benefits | Total fair value | Equities mutual Funds | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 297 | 251 | ' |
U.S. pension benefits | Total fair value | Fixed income securities mutual Funds | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 155 | 143 | ' |
Foreign pension benefits | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 153 | 131 | 124 |
Estimated contribution by employer, next fiscal year | 13 | ' | ' |
Defined Benefit Pension Plans, Estimated Future Benefit Payments | ' | ' | ' |
2014 | 9 | ' | ' |
2015 | 8 | ' | ' |
2016 | 8 | ' | ' |
2017 | 8 | ' | ' |
2018 | 8 | ' | ' |
2019-2023 | 43 | ' | ' |
Foreign pension benefits | Level 1 | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 15 | 7 | ' |
Foreign pension benefits | Level 1 | Cash | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 9 | ' | ' |
Foreign pension benefits | Level 1 | Equities mutual Funds | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 1 | ' | ' |
Foreign pension benefits | Level 1 | Fixed income securities mutual Funds | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 5 | 7 | ' |
Foreign pension benefits | Level 2 | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 138 | 124 | ' |
Foreign pension benefits | Level 2 | Equities mutual Funds | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 57 | 19 | ' |
Foreign pension benefits | Level 2 | Fixed income securities mutual Funds | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 75 | 99 | ' |
Foreign pension benefits | Level 2 | Others | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 6 | 6 | ' |
Foreign pension benefits | Total fair value | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 153 | 131 | ' |
Foreign pension benefits | Total fair value | Cash | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 9 | ' | ' |
Foreign pension benefits | Total fair value | Equities mutual Funds | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 58 | 19 | ' |
Foreign pension benefits | Total fair value | Fixed income securities mutual Funds | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | 80 | 106 | ' |
Foreign pension benefits | Total fair value | Others | ' | ' | ' |
Pension Plans | ' | ' | ' |
Fair value of plan assets | $6 | $6 | ' |
Postretirement_Healthcare_Bene2
Postretirement Healthcare Benefit Plans (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
U.S. postretirement healthcare benefits | ' | ' | ' |
Change in Benefit Obligations: | ' | ' | ' |
Benefit obligation at the beginning of year | $16 | $17 | ' |
Interest cost | 1 | 1 | 1 |
Actuarial (gain) loss, net | -1 | ' | ' |
Employee contributions | 1 | 1 | ' |
Benefits paid | -2 | -3 | ' |
Impact of foreign exchange rates | 1 | ' | ' |
Benefit obligation at the end of year | 14 | 16 | 17 |
Change in Plan Assets: | ' | ' | ' |
Employer contributions | 1 | 2 | ' |
Employee contributions | 1 | 1 | ' |
Benefits paid | -2 | -3 | ' |
Funded Status and Net Amounts Recognized: | ' | ' | ' |
Plan assets (less than) benefit obligation | -14 | -16 | ' |
Net (liability) recognized in the balance sheet | -14 | -16 | ' |
Amounts recognized in the balance sheet consist of: | ' | ' | ' |
Current liabilities | -1 | -2 | ' |
Non-current liabilities | -13 | -14 | ' |
Net (liability) recognized in the balance sheet | -14 | -16 | ' |
Unrecognized prior service credit | 1 | ' | ' |
Unrecognized prior service credit, net of tax | 0 | ' | ' |
Unrecognized actuarial gain (loss) | 5 | ' | ' |
Unrecognized actuarial gain (loss), net of tax | 3 | ' | ' |
Net Periodic Benefit Cost: | ' | ' | ' |
Interest cost | 1 | 1 | 1 |
Amortization of net (gain) loss | -1 | ' | ' |
Net periodic benefit cost | ' | 1 | 1 |
Weighted-Average Assumptions to Determine Benefit Obligations | ' | ' | ' |
Discount rate (as a percent) | 4.70% | 3.80% | ' |
Weighted-Average Assumptions to Determine the Net Periodic Benefit Cost | ' | ' | ' |
Discount rate (as a percent) | 3.80% | 4.80% | 5.30% |
Annual rate of increase in the per capita cost of covered health care benefits assumed (as a percent) | 9.00% | 9.70% | ' |
Annual rate of decrease in the per capita cost of covered health care through 2029 and thereafter (as a percent) | 4.50% | ' | ' |
One-Percentage-Point Change in Assumed Health Care Cost Trend Rates | ' | ' | ' |
Effect of a one-percentage-point increase to postretirement benefit obligation | 1 | ' | ' |
Effect of a one-percentage-point decrease to postretirement benefit obligation | -1 | ' | ' |
Estimated contribution by employer, next fiscal year | 2 | ' | ' |
Foreign postretirement healthcare benefits | ' | ' | ' |
Change in Benefit Obligations: | ' | ' | ' |
Benefit obligation at the beginning of year | 80 | 97 | ' |
Plan amendments | ' | -3 | ' |
Plan curtailments | 2 | ' | ' |
Service cost | ' | 1 | 1 |
Interest cost | 6 | 9 | 10 |
Actuarial (gain) loss, net | -15 | -2 | ' |
Plan settlements/divestitures | ' | -6 | ' |
Benefits paid | -6 | -9 | ' |
Impact of foreign exchange rates | -9 | -7 | ' |
Benefit obligation at the end of year | 54 | 80 | 97 |
Change in Plan Assets: | ' | ' | ' |
Employer contributions | 6 | 9 | ' |
Benefits paid | -6 | -9 | ' |
Funded Status and Net Amounts Recognized: | ' | ' | ' |
Plan assets (less than) benefit obligation | -54 | -80 | ' |
Net (liability) recognized in the balance sheet | -54 | -80 | ' |
Amounts recognized in the balance sheet consist of: | ' | ' | ' |
Current liabilities | -5 | -3 | ' |
Non-current liabilities | -49 | -77 | ' |
Net (liability) recognized in the balance sheet | -54 | -80 | ' |
Unrecognized prior service credit | 0 | ' | ' |
Unrecognized prior service credit, net of tax | 0 | ' | ' |
Unrecognized actuarial gain (loss) | 9 | ' | ' |
Unrecognized actuarial gain (loss), net of tax | 6 | ' | ' |
Net Periodic Benefit Cost: | ' | ' | ' |
Service cost | ' | 1 | 1 |
Interest cost | 6 | 9 | 10 |
Amortization of prior service cost | ' | -7 | -1 |
Amortization of net (gain) loss | 1 | 8 | 1 |
Curtailment gain | 2 | ' | ' |
Net periodic benefit cost | 5 | 11 | 11 |
Weighted-Average Assumptions to Determine Benefit Obligations | ' | ' | ' |
Discount rate (as a percent) | 11.40% | 8.80% | ' |
Weighted-Average Assumptions to Determine the Net Periodic Benefit Cost | ' | ' | ' |
Discount rate (as a percent) | 8.80% | 10.30% | 10.80% |
Annual rate of increase in the per capita cost of covered health care benefits assumed (as a percent) | 7.74% | 7.74% | ' |
One-Percentage-Point Change in Assumed Health Care Cost Trend Rates | ' | ' | ' |
Effect of a one-percentage-point increase to total of service and interest cost components | 1 | ' | ' |
Effect of a one-percentage-point decrease to total of service and interest cost components | -1 | ' | ' |
Effect of a one-percentage-point increase to postretirement benefit obligation | 5 | ' | ' |
Effect of a one-percentage-point decrease to postretirement benefit obligation | -4 | ' | ' |
Estimated contribution by employer, next fiscal year | $5 | ' | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
Other notes receivable | Other notes receivable | Tolling services and administrative support | Tolling services and administrative support | Unconsolidated joint ventures | Unconsolidated joint ventures | Unconsolidated joint ventures | Unconsolidated joint ventures | Unconsolidated joint ventures | Unconsolidated joint ventures | Southwest Iowa Renewable Energy, LLC | Southwest Iowa Renewable Energy, LLC | Senwes Limited | Societe Diester Industrie International | PT Bumiraya Investindo | PT Bumiraya Investindo | Biodiesel Bilbao S.A | Biodiesel Bilbao S.A | Biodiesel Bilbao S.A | Bunge Ergon Vicksburg, LLC | |||
Notes receivable | Notes receivable | Notes receivable | Notes receivable | Notes receivable | Notes receivable | Notes receivable | Notes receivable | Notes receivable | Notes receivable | Notes receivable | ||||||||||||
Related Party Transactions Including Changes In Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of voting power | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | 40.00% | 35.00% | 35.00% | ' | 20.00% | ' | 50.00% |
Notes receivable | ' | ' | $14 | $34 | ' | ' | ' | ' | ' | ' | ' | ' | $27 | $37 | ' | $15 | ' | $5 | ' | $3 | $6 | $9 |
Reference rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis spread on reference rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.50% | ' | ' | 3.70% | ' | 9.60% | ' | 2.50% | ' | ' |
Impairment related to the note receivable | 3 | 30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | 29 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchases of commodities and commodity products and fertilizer products from joint ventures | ' | ' | ' | ' | ' | ' | 446 | 685 | 835 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales of products and services | ' | ' | ' | ' | 81 | 78 | 440 | 592 | 452 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trade accounts receivable | ' | ' | ' | ' | ' | ' | 90 | 169 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trade accounts payable | ' | ' | ' | ' | ' | ' | 29 | 128 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes payable | ' | $7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
USD ($) | USD ($) | Freight supply agreements | Freight supply agreements | Freight supply agreements | Inventories | Power supply contracts | Construction in progress | Ocean Freight Vessels | Railroad Services | Tax claims | Tax claims | Tax claims | Tax claims | Tax claims | Tax claims | Tax claims | Tax claims | Labor claims | Labor claims | Civil and other claims | Civil and other claims | Unconsolidated affiliates financing | Residual value guarantee | Guarantee of indebtedness of subsidiaries | ICMS tax liability | |
USD ($) | Maximum | Minimum | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Argentina | Argentina | Argentina | Argentina | Argentina | Brazil | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | 100% owned subsidiaries | Brazil | |||
USD ($) | USD ($) | ARS | USD ($) | ARS | USD ($) | USD ($) | USD ($) | |||||||||||||||||||
subsidiary | subsidiary | |||||||||||||||||||||||||
Loss Contingencies and Guarantees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency accrual, at carrying value | $236 | $254 | ' | ' | ' | ' | ' | ' | ' | ' | $59 | $70 | ' | ' | ' | ' | ' | ' | $76 | $75 | $101 | $109 | ' | ' | ' | ' |
Income tax liability for ICMS incentives or benefits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Argentine estimated tax claim | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67 | ' | 436 | 89 | 436 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115 | ' | 750 | 121 | 593 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of accrued export tax obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 112 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest assessed on paid export tax obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 147 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of subsidiaries under tax examination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Proposed adjustments resulting from income tax examination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 140 | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum potential future payments related to guarantees | 115 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | 90 | ' | ' |
Obligation related to outstanding guarantees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 3 | ' | ' |
Percentage of ownership interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' |
Long-term debt including current portion, carrying value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,302 | ' |
Number of finance subsidiaries issuing senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' |
Freight supply agreements term, ocean freight vessels | ' | ' | ' | '7 years | '2 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Freight supply agreements term, railroad services | ' | ' | ' | '17 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Minimum Payment Obligations Due Under Freight Supply Agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | 284 | ' | ' | ' | ' | ' | ' | ' | 209 | 75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2015 and 2016 | 148 | ' | ' | ' | ' | ' | ' | ' | 94 | 54 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2017 and 2018 | 144 | ' | ' | ' | ' | ' | ' | ' | 93 | 51 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2019 and thereafter | 345 | ' | ' | ' | ' | ' | ' | ' | 132 | 213 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total | 921 | ' | ' | ' | ' | ' | ' | ' | 528 | 393 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from relet agreements related to ocean freight vessels | ' | ' | 91 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future minimum payments receivable from relet agreements | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase commitments | ' | ' | ' | ' | ' | $241 | $17 | $105 | ' | $79 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable_Noncontrolling_Inte1
Redeemable Noncontrolling Interests (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Redeemable Noncontrolling Interests | ' | ' |
Redeemable noncontrolling interests carrying amount | $37 | $38 |
Oilseed processing venture in Eastern Europe | ' | ' |
Redeemable Noncontrolling Interests | ' | ' |
Redeemable noncontrolling interests carrying amount | 37 | 29 |
Wheat mill and bakery mix operation in North America | ' | ' |
Redeemable Noncontrolling Interests | ' | ' |
Redeemable noncontrolling interests carrying amount | $10 | $9 |
Ownership interest immediately prior to acquisition (as a percent) | 5.00% | ' |
Equity_Details
Equity (Details) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 43 Months Ended | 12 Months Ended | 43 Months Ended | ||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 05, 2012 | Dec. 31, 2011 | Jun. 30, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 |
Convertible perpetual preference shares | Minimum | Maximum | Common Shares | Common Shares | Common Shares | Common Shares | Common Shares | Common Shares | Treasury Shares | Treasury Shares | Treasury Shares | ||||
Convertible perpetual preference shares | Convertible perpetual preference shares | ||||||||||||||
Equity Disclosures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Authorized amount of issued and outstanding common shares available for repurchase | ' | ' | ' | ' | ' | ' | ' | ' | $700 | ' | ' | ' | ' | ' | ' |
Repurchase of common shares (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,933,286 | 6,714,573 | 8,647,859 | ' | ' | ' |
Repurchase of common shares to date | ' | ' | 120 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 120 | 354 | 474 |
Changes to the authorized amount of the stock repurchase program | ' | ' | ' | ' | ' | ' | 275 | ' | ' | ' | ' | ' | ' | ' | ' |
Extension period of share repurchase program | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' |
Preference shares outstanding | 6,900,000 | 6,900,000 | ' | 6,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preference shares, par value (in dollars per share) | $0.01 | $0.01 | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preference shares, liquidation preference (in dollars per share) | $100 | $100 | ' | $100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible preference share, common shares issued upon conversion, at any time before mandatory conversion date | ' | ' | ' | 1.1131 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible preference shares accrued dividends (as a percent) | ' | ' | ' | 4.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends paid in cash | $34 | $34 | $34 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated unpaid dividends up to a maximum additional (in dollars per share) | ' | ' | ' | $25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion price, convertible preference share (in dollars per share) | ' | ' | ' | $89.84 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible preference shares, aggregate common shares issued if converted at current conversion rate | ' | ' | ' | 7,680,390 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Target ratio of closing share price to conversion price as a condition for conversion or redemption of Convertible Notes (as a percent) | ' | ' | ' | 130.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
The consecutive trading days which must occur to trigger the conversion of the notes | ' | ' | ' | ' | '20 days | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity_Details_2
Equity (Details 2) (USD $) | 12 Months Ended | |||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 |
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | Foreign Exchange Translation Adjustment | Foreign Exchange Translation Adjustment | Foreign Exchange Translation Adjustment | Deferred Gains and Losses on Hedging Activities | Deferred Gains and Losses on Hedging Activities | Deferred Gains and Losses on Hedging Activities | Pension and Other Postretirement Liability Adjustments | Pension and Other Postretirement Liability Adjustments | Pension and Other Postretirement Liability Adjustments | Unrealized Gains and Losses on Investments | Unrealized Gains and Losses on Investments | Unrealized Gains and Losses on Investments | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at beginning of period | ($1,410) | ' | ' | ($1,410) | ($610) | $583 | ($1,265) | ($460) | $670 | $3 | ($24) | ($2) | ($157) | ($124) | ($83) | $9 | ($2) | ($2) |
Other comprehensive income (loss) before reclassification | ' | ' | ' | -1,124 | -822 | -1,166 | -1,217 | -805 | -1,130 | ' | 5 | 5 | 88 | -33 | -41 | 5 | 11 | ' |
Amount reclassified from accumulated other comprehensive income | ' | ' | ' | -38 | 22 | -27 | -4 | ' | ' | -25 | 22 | -27 | ' | ' | ' | -9 | ' | ' |
Total other comprehensive income (loss) | -1,157 | -792 | -1,224 | -1,162 | -800 | -1,193 | -1,221 | -805 | -1,130 | -25 | 27 | -22 | 88 | -33 | -41 | -4 | 11 | ' |
Balance at end of period | ($2,572) | ($1,410) | ' | ($2,572) | ($1,410) | ($610) | ($2,486) | ($1,265) | ($460) | ($22) | $3 | ($24) | ($69) | ($157) | ($124) | $5 | $9 | ($2) |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Computation of basic and diluted earnings per common share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | $110 | $378 | $965 |
Net (income) loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 99 | 28 | 2 |
Income from continuing operations attributable to Bunge | ' | ' | ' | ' | ' | ' | ' | ' | 209 | 406 | 967 |
Other redeemable obligations | ' | ' | ' | ' | ' | ' | ' | ' | -42 | -2 | ' |
Convertible preference share dividends and other obligations | ' | ' | ' | ' | ' | ' | ' | ' | -76 | -36 | -34 |
Income (loss) from discontinued operations, net of tax | 2 | 103 | 1 | -9 | -319 | 4 | 8 | -35 | 97 | -342 | -25 |
Net income available to Bunge common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $230 | $28 | $908 |
Weighted-average number of common shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in shares) | 147,678,707 | 147,349,175 | 147,128,500 | 146,648,822 | 146,230,219 | 146,074,712 | 145,974,965 | 145,718,123 | 147,204,082 | 146,000,541 | 146,583,128 |
Effect of dilutive shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
-Stock options and awards (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 1,053,227 | 1,134,945 | 1,042,127 |
-Convertible preference shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,583,790 |
Diluted (in shares) | 148,803,918 | 147,349,175 | 147,873,841 | 147,867,817 | 146,230,219 | 154,645,337 | 154,475,872 | 146,582,899 | 148,257,309 | 147,135,486 | 155,209,045 |
Basic earnings per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) from continuing operations (in dollars per share) | $0.76 | ($1.82) | $0.74 | $1.22 | ($1.99) | $1.94 | $1.77 | $0.81 | $0.91 | $2.53 | $6.37 |
Net income (loss) from discontinued operations (in dollars per share) | $0.02 | $0.69 | $0.02 | ($0.06) | ($2.18) | $0.03 | $0.05 | ($0.24) | $0.66 | ($2.34) | ($0.17) |
Net income (loss) to Bunge common shareholders (in dollars per share) | $0.78 | ($1.13) | $0.76 | $1.16 | ($4.17) | $1.97 | $1.82 | $0.57 | $1.57 | $0.19 | $6.20 |
Diluted earnings per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) from continuing operations (in dollars per share) | $0.75 | ($1.82) | $0.74 | $1.21 | ($1.99) | $1.89 | $1.73 | $0.80 | $0.90 | $2.51 | $6.23 |
Net income (loss) from discontinued operations (in dollars per share) | $0.03 | $0.69 | $0.01 | ($0.06) | ($2.18) | $0.03 | $0.05 | ($0.23) | $0.65 | ($2.32) | ($0.16) |
Net income (loss) to Bunge common shareholders (in dollars per share) | $0.78 | ($1.13) | $0.75 | $1.15 | ($4.17) | $1.92 | $1.78 | $0.57 | $1.55 | $0.19 | $6.07 |
Stock options and contingently issuable restricted stock units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | 4,000,000 | 4,000,000 |
Convertible Preference Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 7,700,000 | 7,600,000 | ' |
ShareBased_Compensation_Detail
Share-Based Compensation (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value Assumptions | ' | ' | ' |
Expected option term | '6 years | '5 years 11 months 8 days | '5 years 4 months 20 days |
Expected dividend yield (as a percent) | 1.45% | 1.48% | 1.29% |
Expected volatility (as a percent) | 43.23% | 44.26% | 45.45% |
Risk-free interest rate (as a percent) | 1.01% | 1.15% | 2.48% |
Options | ' | ' | ' |
Outstanding at beginning of period (in shares) | 5,741,819 | ' | ' |
Granted (in shares) | 785,375 | ' | ' |
Exercised (in shares) | -1,070,635 | ' | ' |
Forfeited or expired (in shares) | -292,391 | ' | ' |
Outstanding at end of period (in shares) | 5,164,168 | 5,741,819 | ' |
Exercisable at end of period (in shares) | 3,498,165 | ' | ' |
Weighted-Average Exercise Price | ' | ' | ' |
Outstanding balance at beginning of period (in dollars per share) | $65.59 | ' | ' |
Granted (in dollars per share) | $74.32 | ' | ' |
Exercised (in dollars per share) | $49.52 | ' | ' |
Forfeited or expired (in dollars per share) | $82.36 | ' | ' |
Outstanding balance at end of period (in dollars per share) | $69.30 | $65.59 | ' |
Exercisable balance at end of period (in dollars per share) | $68.40 | ' | ' |
Weighted-Average Remaining Contractual Term | ' | ' | ' |
Outstanding , Weighted-Average Remaining Contractual Term | '5 years 11 months 23 days | ' | ' |
Exercisable, Weighted-Average Remaining Contractual Term | '4 years 9 months 18 days | ' | ' |
Aggregate Intrinsic Value | ' | ' | ' |
Outstanding at end of period (in dollars) | $77 | ' | ' |
Exercisable at end of period (in dollars) | 59 | ' | ' |
Additional disclosures | ' | ' | ' |
Weighted-average grant date fair value (in dollars per share) | $26.95 | $25.06 | $27.99 |
Total intrinsic value of options exercised (in dollars) | 29 | 19 | 24 |
Stock option awards | ' | ' | ' |
Share-Based Compensation | ' | ' | ' |
Share-based compensation expense | 27 | 25 | 24 |
Unrecognized Compensation Cost | ' | ' | ' |
Total unrecognized compensation related to non-vested awards (in dollars) | 64 | ' | ' |
Period of recognition of total unrecognized compensation related to non-vested shares | '2 years | ' | ' |
Restricted stock units | ' | ' | ' |
Share-Based Compensation | ' | ' | ' |
Share-based compensation expense | 26 | 19 | 25 |
Unrecognized Compensation Cost | ' | ' | ' |
Total unrecognized compensation related to non-vested awards (in dollars) | 36 | ' | ' |
Period of recognition of total unrecognized compensation related to non-vested shares | '2 years | ' | ' |
Restricted Stock Units | ' | ' | ' |
Restricted stock units outstanding at beginning of period (in shares) | 1,332,745 | ' | ' |
Granted (in shares) | 543,412 | ' | ' |
Vested/issued (in shares) | -339,335 | ' | ' |
Forfeited/cancelled (in shares) | -254,496 | ' | ' |
Restricted stock units outstanding at end of period (in shares) | 1,282,326 | 1,332,745 | ' |
Weighted-Average Grant-Date Fair Value | ' | ' | ' |
Restricted stock units outstanding at beginning of period (in dollars per share) | $66.17 | ' | ' |
Granted (in dollars per share) | $74.40 | $67.08 | $70.36 |
Vested/issued (in dollars per share) | $56.78 | ' | ' |
Forfeited/cancelled (in dollars per share) | $71.56 | ' | ' |
Restricted stock units outstanding at end of period (in dollars per share) | $71.07 | $66.17 | ' |
Restricted Stock Units, Additional Activity Information | ' | ' | ' |
Unvested corresponding dividends accrued (in shares) | 37,352 | ' | ' |
Common shares issued, net of common shares withheld to cover taxes | 339,335 | ' | ' |
Common shares issued, net of common shares withheld to cover taxes, weighted-average fair value (in dollars per share) | $73.03 | ' | ' |
Deferred common share units including common shares representing accrued corresponding dividends, as of period end | 18,074 | ' | ' |
Total fair value of restricted stock units vested (in dollars) | $43 | ' | ' |
Performance-based restricted stock units | ' | ' | ' |
Restricted Stock Units | ' | ' | ' |
Forfeited/cancelled (in shares) | -212,309 | ' | ' |
2009 Equity Incentive Plan and Equity Incentive Plan | Stock option awards | ' | ' | ' |
Share-Based Compensation | ' | ' | ' |
Expiration period of award | '10 years | ' | ' |
Vesting period | '3 years | ' | ' |
2009 Equity Incentive Plan and Equity Incentive Plan | Performance-based restricted stock units | ' | ' | ' |
Share-Based Compensation | ' | ' | ' |
Vesting period | '3 years | ' | ' |
Performance period | '3 years | ' | ' |
2009 Equity Incentive Plan and Equity Incentive Plan | Performance-based restricted stock units | Minimum | ' | ' | ' |
Share-Based Compensation | ' | ' | ' |
Percentage of award vested if performance target is achieved | 50.00% | ' | ' |
2009 Equity Incentive Plan and Equity Incentive Plan | Performance-based restricted stock units | Maximum | ' | ' | ' |
Share-Based Compensation | ' | ' | ' |
Percentage of award vested if performance target is achieved | 200.00% | ' | ' |
2009 Equity Incentive Plan and Equity Incentive Plan | Time-vested restricted stock units | ' | ' | ' |
Share-Based Compensation | ' | ' | ' |
Percentage of units vested | 100.00% | ' | ' |
2009 Equity Incentive Plan and Equity Incentive Plan | Time-vested restricted stock units | Minimum | ' | ' | ' |
Share-Based Compensation | ' | ' | ' |
Vesting period | '3 years | ' | ' |
2009 Equity Incentive Plan and Equity Incentive Plan | Time-vested restricted stock units | Maximum | ' | ' | ' |
Share-Based Compensation | ' | ' | ' |
Vesting period | '5 years | ' | ' |
2009 EIP | ' | ' | ' |
Common Shares Reserved for Share-Based Awards | ' | ' | ' |
Common shares reserved for grant of stock options, stock awards and other awards | 10,000,000 | ' | ' |
Common shares available for future grants | 4,489,925 | ' | ' |
2007 Directors' Plan | ' | ' | ' |
Common Shares Reserved for Share-Based Awards | ' | ' | ' |
Common shares reserved for grant of stock options, stock awards and other awards | 600,000 | ' | ' |
Common shares available for future grants | 320,835 | ' | ' |
2007 Directors' Plan | Stock option awards | ' | ' | ' |
Share-Based Compensation | ' | ' | ' |
Expiration period of award | '10 years | ' | ' |
Lease_Commitments_Details
Lease Commitments (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Minimum Lease Payments Under Non-Cancelable Operating Leases | ' | ' | ' |
2014 | $193 | ' | ' |
2015 | 162 | ' | ' |
2016 | 148 | ' | ' |
2017 | 93 | ' | ' |
2018 | 80 | ' | ' |
Thereafter | 320 | ' | ' |
Total | 996 | ' | ' |
Rent expense under non-cancelable operating leases | ' | ' | ' |
Rent expense | 204 | 189 | 227 |
Sublease income | -23 | -35 | -41 |
Net rent expense | 181 | 154 | 186 |
Minimum | ' | ' | ' |
Rent expense under non-cancelable operating leases | ' | ' | ' |
Life of lease agreements | '1 year | ' | ' |
Sugarcane partnership agreements | ' | ' | ' |
Rent expense under non-cancelable operating leases | ' | ' | ' |
Hectares of land covered by the agricultural partnership agreement under cultivation | 214,000 | ' | ' |
Payments related to agricultural partnership agreements | 169 | 181 | 91 |
Advances for future agricultural partnership expenses | 107 | 127 | 40 |
Agricultural partnership expense | $62 | $54 | $51 |
Sugarcane partnership agreements | Average | ' | ' | ' |
Rent expense under non-cancelable operating leases | ' | ' | ' |
Life of agricultural partnership agreements | '5 years | ' | ' |
Operating_Segments_and_Geograp2
Operating Segments and Geographic Areas (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 17, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 17, 2013 |
item | Selling, general and administrative costs | Other income (expense) - net | Joint venture in Morocco | Agribusiness | Agribusiness | Agribusiness | Agribusiness | Agribusiness | Sugar and Bioenergy | Sugar and Bioenergy | Sugar and Bioenergy | Sugar and Bioenergy | Sugar and Bioenergy | Edible Oil Products | Edible Oil Products | Edible Oil Products | Milling Products | Milling Products | Milling Products | Fertilizer | Fertilizer | Fertilizer | Operating | Operating | Operating | Operating | Operating | Operating | Operating | Operating | Operating | Operating | Operating | Operating | Operating | Operating | Operating | Discontinued Operations & Unallocated | Discontinued Operations & Unallocated | Discontinued Operations & Unallocated | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Inter-segment Eliminations | Moroccan fertilizer joint venture | |||||||||||
item | item | Selling, general and administrative costs | Other income (expense) - net | Selling, general and administrative costs | Other income (expense) - net | Agribusiness | Agribusiness | Agribusiness | Sugar and Bioenergy | Sugar and Bioenergy | Sugar and Bioenergy | Edible Oil Products | Edible Oil Products | Edible Oil Products | Milling Products | Milling Products | Milling Products | Fertilizer | Fertilizer | Fertilizer | Agribusiness | Agribusiness | Agribusiness | Sugar and Bioenergy | Sugar and Bioenergy | Edible Oil Products | Edible Oil Products | Edible Oil Products | Milling Products | Milling Products | Milling Products | Fertilizer | Fertilizer | Fertilizer | ||||||||||||||||||||||||||||||||
Segment Reporting Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reportable segments | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership interest sold (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% |
Operating Segment Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales to external customers | $16,370 | $14,701 | $15,491 | $14,785 | $17,040 | $16,543 | $14,499 | $12,909 | $61,347 | $60,991 | $56,097 | ' | ' | ' | $45,507 | $44,561 | $38,844 | ' | ' | $4,215 | $4,659 | $5,842 | ' | ' | $9,165 | $9,472 | $8,839 | $2,012 | $1,833 | $2,006 | $448 | $466 | $566 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($5,189) | ($5,555) | ($5,167) | $4,978 | $5,377 | $4,952 | $61 | $13 | $138 | $119 | $86 | $9 | $1 | $50 | $3 | $58 | $66 | ' |
Gross profit | 809 | 688 | 616 | 647 | 550 | 843 | 643 | 537 | 2,760 | 2,573 | 2,627 | ' | ' | ' | 1,797 | 1,786 | 1,687 | ' | ' | 92 | 64 | 149 | ' | ' | 540 | 446 | 462 | 262 | 201 | 234 | 69 | 76 | 95 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign exchange gains (losses) | ' | ' | ' | ' | ' | ' | ' | ' | 53 | 88 | -16 | ' | ' | ' | 41 | 111 | -16 | ' | ' | 3 | -15 | -4 | ' | ' | 5 | -8 | 3 | -1 | 1 | ' | 5 | -1 | -1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 99 | 28 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31 | -9 | -18 | 9 | 25 | -2 | -7 | 2 | -6 | ' | ' | ' | -5 | -3 | -4 | 71 | 13 | 32 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income (expense)-net | ' | ' | ' | ' | ' | ' | ' | ' | 44 | -92 | 7 | ' | ' | ' | -2 | -68 | -11 | ' | ' | ' | -3 | 4 | ' | ' | 10 | -7 | 3 | 3 | ' | 2 | 33 | -14 | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment EBIT | ' | ' | ' | ' | ' | ' | ' | ' | 1,329 | 628 | 1,189 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,032 | 1,047 | 905 | -60 | -637 | -20 | 163 | 80 | 137 | 125 | 115 | 104 | 69 | 23 | 63 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued operations | 2 | 103 | 1 | -9 | -319 | 4 | 8 | -35 | 97 | -342 | -25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97 | -342 | -25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -568 | -537 | -493 | ' | ' | ' | -240 | -221 | -184 | ' | ' | -184 | -175 | -171 | ' | ' | -99 | -93 | -87 | -28 | -30 | -27 | -17 | -18 | -24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments in affiliates (Note 11) | 241 | ' | ' | ' | 273 | ' | ' | ' | 241 | 273 | 600 | ' | ' | ' | 185 | 195 | 506 | ' | ' | 56 | 37 | 18 | ' | ' | ' | ' | ' | ' | ' | 14 | ' | 41 | 62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 26,781 | ' | ' | ' | 27,280 | ' | ' | ' | 26,781 | 27,280 | 25,221 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,898 | 18,178 | 15,903 | 3,512 | 3,691 | 3,805 | 2,420 | 2,723 | 2,445 | 1,242 | 806 | 715 | 353 | 972 | 2,353 | 356 | 910 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 1,042 | 1,095 | 1,125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 395 | 365 | 494 | 346 | 421 | 376 | 146 | 179 | 145 | 56 | 27 | 25 | 23 | 31 | 56 | 76 | 72 | 29 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 514 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 514 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-tax impairment charge for affiliate loans | ' | ' | ' | ' | ' | ' | ' | ' | 3 | 30 | ' | 30 | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | 29 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-tax impairment charge for equity method investments | ' | ' | ' | ' | ' | ' | ' | ' | $2 | $19 | ' | ' | $19 | ' | ' | ' | ' | ' | $9 | ' | ' | ' | ' | $10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of affiliate loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of equity method investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating_Segments_and_Geograp3
Operating Segments and Geographic Areas (Details 2) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation of Total Segment Earnings Before Interest and Tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total segment EBIT from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | $1,329 | $628 | $1,189 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 76 | 53 | 96 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -363 | -294 | -295 |
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -904 | 6 | -55 |
Income (loss) from discontinued operations, net of tax | 2 | 103 | 1 | -9 | -319 | 4 | 8 | -35 | 97 | -342 | -25 |
Noncontrolling interests' share of interest and tax | ' | ' | ' | ' | ' | ' | ' | ' | 71 | 13 | 32 |
Net income attributable to Bunge | 138 | -148 | 136 | 180 | -599 | 297 | 274 | 92 | 306 | 64 | 942 |
External Customers Net Sales, Products and Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | 16,370 | 14,701 | 15,491 | 14,785 | 17,040 | 16,543 | 14,499 | 12,909 | 61,347 | 60,991 | 56,097 |
Agricultural commodities products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers Net Sales, Products and Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 45,507 | 44,561 | 38,844 |
Sugar and bioenergy products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers Net Sales, Products and Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 4,215 | 4,659 | 5,842 |
Edible oil products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers Net Sales, Products and Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 9,165 | 9,472 | 8,839 |
Wheat milling products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers Net Sales, Products and Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,226 | 1,027 | 1,186 |
Corn milling products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers Net Sales, Products and Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 786 | 806 | 820 |
Fertilizer products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers Net Sales, Products and Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | $448 | $466 | $566 |
Operating_Segments_and_Geograp4
Operating Segments and Geographic Areas (Details 3) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
External Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $16,370 | $14,701 | $15,491 | $14,785 | $17,040 | $16,543 | $14,499 | $12,909 | $61,347 | $60,991 | $56,097 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 7,080 | ' | ' | ' | 6,807 | ' | ' | ' | 7,080 | 6,807 | 7,230 |
Europe | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 19,821 | 19,475 | 18,417 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 1,301 | ' | ' | ' | 1,238 | ' | ' | ' | 1,301 | 1,238 | 1,051 |
United States | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 12,764 | 15,249 | 13,769 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 965 | ' | ' | ' | 987 | ' | ' | ' | 965 | 987 | 1,307 |
Brazil | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 9,679 | 8,583 | 8,335 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 3,145 | ' | ' | ' | 3,341 | ' | ' | ' | 3,145 | 3,341 | 4,004 |
Asia | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 12,516 | 11,160 | 9,590 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 565 | ' | ' | ' | 512 | ' | ' | ' | 565 | 512 | 378 |
Argentina | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 2,609 | 3,059 | 3,660 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 248 | ' | ' | ' | 330 | ' | ' | ' | 248 | 330 | 287 |
Canada | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 2,220 | 2,322 | 1,856 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 316 | ' | ' | ' | 236 | ' | ' | ' | 316 | 236 | 180 |
Rest of world | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
External Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,738 | 1,143 | 470 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | $540 | ' | ' | ' | $163 | ' | ' | ' | $540 | $163 | $23 |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
t | t | t | t | t | t | t | t | t | t | ||
Quarterly Financial Information (Unaudited) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Volumes (in metric tons) | 42,000,000 | 42,000,000 | 39,000,000 | 37,000,000 | 33,000,000 | 43,000,000 | 41,000,000 | 36,000,000 | 160,000,000 | 153,000,000 | ' |
Net sales | $16,370 | $14,701 | $15,491 | $14,785 | $17,040 | $16,543 | $14,499 | $12,909 | $61,347 | $60,991 | $56,097 |
Gross profit | 809 | 688 | 616 | 647 | 550 | 843 | 643 | 537 | 2,760 | 2,573 | 2,627 |
Income (loss) from discontinued operations, net of tax | 2 | 103 | 1 | -9 | -319 | 4 | 8 | -35 | 97 | -342 | -25 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 130 | -193 | 122 | 148 | -620 | 301 | 266 | 89 | 207 | 36 | 940 |
Net income attributable to Bunge | $138 | ($148) | $136 | $180 | ($599) | $297 | $274 | $92 | $306 | $64 | $942 |
Earnings per common share-basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (in dollars per share) | $0.88 | ($1.31) | $0.83 | $1.01 | ($4.24) | $2.06 | $1.82 | $0.61 | $1.41 | $0.25 | ' |
Net income (loss) from continuing operations (in dollars per share) | $0.76 | ($1.82) | $0.74 | $1.22 | ($1.99) | $1.94 | $1.77 | $0.81 | $0.91 | $2.53 | $6.37 |
Net income (loss) from discontinued operations (in dollars per share) | $0.02 | $0.69 | $0.02 | ($0.06) | ($2.18) | $0.03 | $0.05 | ($0.24) | $0.66 | ($2.34) | ($0.17) |
Net income (loss) to Bunge common shareholders (in dollars per share) | $0.78 | ($1.13) | $0.76 | $1.16 | ($4.17) | $1.97 | $1.82 | $0.57 | $1.57 | $0.19 | $6.20 |
Earnings per common share-diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (in dollars per share) | $0.87 | ($1.31) | $0.83 | $1 | ($4.24) | $1.95 | $1.72 | $0.61 | $1.40 | $0.24 | ' |
Net income (loss) from continuing operations (in dollars per share) | $0.75 | ($1.82) | $0.74 | $1.21 | ($1.99) | $1.89 | $1.73 | $0.80 | $0.90 | $2.51 | $6.23 |
Net income (loss) from discontinued operations (in dollars per share) | $0.03 | $0.69 | $0.01 | ($0.06) | ($2.18) | $0.03 | $0.05 | ($0.23) | $0.65 | ($2.32) | ($0.16) |
Net income (loss) to Bunge common shareholders (in dollars per share) | $0.78 | ($1.13) | $0.75 | $1.15 | ($4.17) | $1.92 | $1.78 | $0.57 | $1.55 | $0.19 | $6.07 |
Weighted-Average number of shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average number of shares outstanding - basic | 147,678,707 | 147,349,175 | 147,128,500 | 146,648,822 | 146,230,219 | 146,074,712 | 145,974,965 | 145,718,123 | 147,204,082 | 146,000,541 | 146,583,128 |
Weighted-average number of shares outstanding-diluted | 148,803,918 | 147,349,175 | 147,873,841 | 147,867,817 | 146,230,219 | 154,645,337 | 154,475,872 | 146,582,899 | 148,257,309 | 147,135,486 | 155,209,045 |
Market Price: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
High (in dollars per share) | $83.11 | $79.15 | $73.51 | $79.92 | $73.82 | $67.30 | $69.73 | $68.44 | ' | ' | ' |
Low (in dollars per share) | $76.11 | $71.35 | $66.40 | $72.12 | $67.74 | $60.82 | $57.83 | $57.22 | ' | ' | ' |
Quarterly_Financial_Informatio3
Quarterly Financial Information (Unaudited) (Details 2) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2012 |
Quarterly Financial Information (Unaudited) | ' |
After-tax goodwill impairment charge | $339 |
Schedule_IIValuation_and_Quali1
Schedule II-Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowances for doubtful accounts | ' | ' | ' |
Movement in Valuation Allowances and Reserves | ' | ' | ' |
Balance at beginning of period | $292 | $247 | $300 |
Charged to costs and expenses | 73 | 129 | 62 |
Charged to other accounts | -18 | -12 | -23 |
Deductions from reserves | -64 | -72 | -92 |
Balance at end of period | 283 | 292 | 247 |
Allowances for secured advances to suppliers | ' | ' | ' |
Movement in Valuation Allowances and Reserves | ' | ' | ' |
Balance at beginning of period | 78 | 73 | 87 |
Charged to costs and expenses | 34 | 41 | 6 |
Charged to other accounts | -10 | -7 | -9 |
Deductions from reserves | -27 | -29 | -11 |
Balance at end of period | 75 | 78 | 73 |
Allowances for recoverable taxes | ' | ' | ' |
Movement in Valuation Allowances and Reserves | ' | ' | ' |
Balance at beginning of period | 105 | 98 | 118 |
Charged to costs and expenses | 19 | 61 | 14 |
Charged to other accounts | -2 | -44 | -6 |
Deductions from reserves | -52 | -10 | -28 |
Balance at end of period | 70 | 105 | 98 |
Income tax valuation allowance | ' | ' | ' |
Movement in Valuation Allowances and Reserves | ' | ' | ' |
Balance at beginning of period | 455 | 187 | 245 |
Charged to costs and expenses | 642 | 257 | -11 |
Charged to other accounts | -49 | 11 | -47 |
Balance at end of period | $1,048 | $455 | $187 |