St. Louis, MO – April 27, 2021 – Bunge Limited (NYSE:BG) announced today that it has changed its segment reporting to align with the Company's new value chain operating structure.
Beginning with the first quarter 2021, Bunge will report Core Segment results as follows: Agribusiness, which includes processing and merchandising; Refined and Specialty Oils; and Milling. Bunge will also continue to report Corporate and Other results and Non-core Segment results, which is made up of Sugar & Bioenergy.
The primary changes are elimination of the fertilizer reporting segment, the results of which are now included in the processing component of the Agribusiness reporting segment, the realignment of grains and oilseeds operations into processing and merchandising, as well as other immaterial reclassifications between Core and Corporate and Other segments.
The segment reporting changes reflect a corresponding change in how the Company’s Chief Executive Officer (its chief operating decision maker) reviews financial information in order to allocate resources and assess performance.
In conjunction with this change, certain prior year amounts have been recast to conform to the new segment reporting structure. These changes have no impact on previously-reported consolidated balance sheets, statements of income (loss), comprehensive income (loss), changes in equity or cash flows.
To illustrate the impact of the new segment reporting structure, the recast of certain financial information for the four quarters and fiscal year ended 2020, together with the corresponding financial information previously reported, accompanies this press release.