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July 2022
July 2022
July 2022
May 2022
May 2022
April 2022
April 2022
March 2022
March 2022
February 2022
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Q4 adjusted EPS of $1.49, up $0.37 vs. last year
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Q4 total adjusted segment EBIT of $337 million
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2015 total adjusted segment EBIT of $1,229 million
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Combined Agri-Foods trailing four quarter ROIC of 10%; 3 points over WACC
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„
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Financial Highlights
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Quarter Ended
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Twelve Months Ended
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US$ in millions, except per share
data
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12/31/15
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12/31/14
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12/31/15
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12/31/14
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Net sales
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$11,133
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$13,231
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$43,483
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$57,161
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Total segment EBIT (a)
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$294
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$147
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$1,248
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$956
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Certain gains & (charges) (b)
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$(43)
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$(250)
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$19
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$(250)
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Total segment EBIT, adjusted (a)
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$337
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$397
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$1,229
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$1,206
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Agribusiness (c)
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$268
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$319
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$1,054
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$895
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Oilseeds
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$185
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$197
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$596
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$570
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Grains
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$83
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$122
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$458
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$325
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Food & Ingredients (d)
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$46
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$83
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$192
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$301
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Sugar & Bioenergy
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$10
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$(21)
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$(22)
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$(35)
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Fertilizer
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$13
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$16
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$5
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$45
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Net income (loss) per common share from continuing operations-diluted (a)
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$1.31
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$(0.39)
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$4.84
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$2.96
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Net income (loss) per common share from continuing operations-diluted, adjusted (a)
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$1.49
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$1.12
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$4.83
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$4.10
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(a)
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Total segment earnings before interest and tax (“EBIT”); net income (loss) per common share from continuing operations-diluted; and net income (loss) per common share from continuing operations-diluted, adjusted are non-GAAP financial measures. Reconciliations to the most directly comparable U.S. GAAP measures are included in the tables attached to this press release and the accompanying slide presentation posted on Bunge’s website.
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(b)
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Includes certain gains and charges included in segment EBIT. See Additional Financial Information for detail.
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(c)
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See footnote 19 of Additional Financial Information for a description of the Oilseeds and Grains businesses in Bunge’s Agribusiness segment.
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(d)
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Includes Edible Oil Products and Milling Products segments.
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Bunge Ltd.
Bunge Ltd's Definitive Proxy Statement (Form DEF 14A) filed after their 2016 10-K Annual Report includes:
Rating
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Gross profit in 2014 increased to $548 million from $540 million in 2013, primarily due to higher margins in Brazil, driven by a tight supply environment and an increased focus on operational improvements and price management strategies, and in Argentina, driven by higher export volumes within South America.
SG&A expenses increased by $29 million to $168 million in 2014 from $139 million in 2013, primarily resulting from inclusion of our wheat milling business acquired in Mexico at the end of last year and $14 million expenses on certain ICMS tax credits in Brazil, partially offset by the benefits of cost reduction initiatives and the impact of the weaker Brazilian
Different assumptions, changes in economic circumstances or the deterioration of the financial condition of the counterparties to these derivative instruments could result in additional fair value adjustments and increased expense reflected in cost of goods sold, foreign exchange or interest expense.
Excluding the impairment and restructuring charges, results improved by $13 million due to improved performance in our industrial milling operations in Brazil and lower SG&A expenses from the translation benefit of the weaker Brazilian
In Europe, results were also negatively impacted by increased competition, primarily in Poland, Germany and weak economic environments and currency translation in Ukraine and Russia.
Excluding the effects of these...Read more
The decrease was driven by...Read more
Cost of goods sold decreased...Read more
However, credit rating downgrades would...Read more
SG&A benefitted from weaker currencies...Read more
Interest expense decreased by 4%...Read more
SG&A Expenses increased to $482...Read more
Our sugarcane milling business benefited...Read more
Gross profit decreased to $237...Read more
Improvement in ocean freight costs,...Read more
As we assess the ongoing...Read more
Interest expense decreased by 26%...Read more
Gross profit was $1,742 million...Read more
SG&A expenses were $109 million...Read more
SG&A expenses decreased to $328...Read more
The lower expense in 2014...Read more
Interest income in 2014 increased...Read more
Interest expenses were reduced due...Read more
SG&A costs declined driven by...Read more
Reported volumes in this segment...Read more
Excluding the impairment and related...Read more
During 2015, payments made for...Read more
In our U.S. milling operations,...Read more
The decrease in net operating...Read more
In our grains business, origination...Read more
Volumes in 2015 were essentially...Read more
The strengthening of the U.S....Read more
In 2014, SG&A expenses included...Read more
If we used different methods...Read more
Interest income decreased to $44...Read more
Increases in agricultural commodity prices...Read more
Net cash inflows from operating...Read more
Based upon an analysis of...Read more
This was partially offset by...Read more
Gross profit increased by 19%...Read more
Results in our North American...Read more
Proceeds received in cash related...Read more
In addition, margins were higher...Read more
SG&A expenses declined 6% to...Read more
Also, certain of our U.S....Read more
Also, certain of our U.S....Read more
Additionally, if market conditions change...Read more
At December 31, 2015, there...Read more
Recoverable taxes include value-added paid...Read more
As a result, fluctuations of...Read more
Conversely, if we determine that...Read more
SG&A expenses decreased by $45...Read more
The table below shows details...Read more
Segment EBIT decreased by $108...Read more
During the year, soybean processing...Read more
Our commercial paper program is...Read more
U.S. dollar-denominated loans are remeasured...Read more
U.S. dollar-denominated loans are remeasured...Read more
The increase in cash provided...Read more
Milling Products segment EBIT decreased...Read more
Cost of goods sold was...Read more
The reduced grain origination volumes...Read more
The primary drivers of the...Read more
Our judgments related to the...Read more
A significant increase in our...Read more
These reductions were only partly...Read more
Our risk of loss following...Read more
At December 31, 2015, we...Read more
We are a party to...Read more
Results in our Asia-Pacific operations...Read more
Noncontrolling interest decreased to $211...Read more
EBIT for 2015 includes a...Read more
Cost of goods sold increased...Read more
Segment EBIT decreased to $103...Read more
Segment EBIT improved by $141...Read more
Generally, during periods when commodity...Read more
Grain trading and distribution also...Read more
Our profitability is impacted by...Read more
The cost of borrowing under...Read more
The net proceeds from this...Read more
The convertible perpetual preference shares...Read more
Segment EBIT increased 24% to...Read more
Certain of our non-U.S. operating...Read more
Certain of our non-U.S. operating...Read more
Segment EBIT decreased to $5...Read more
These increases more than offset...Read more
Cost reduction initiatives in our...Read more
packaged oils driven by operational...Read more
Secured Advances to Suppliers and...Read more
Payments made for capital expenditures...Read more
The commodity nature of the...Read more
We generally finance our ongoing...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Bunge Ltd provided additional information to their SEC Filing as exhibits
Ticker: BG
CIK: 1144519
Form Type: 10-K Annual Report
Accession Number: 0001047469-16-010442
Submitted to the SEC: Thu Feb 25 2016 5:05:27 PM EST
Accepted by the SEC: Thu Feb 25 2016
Period: Thursday, December 31, 2015
Industry: Fats And Oils