FAIR VALUE MEASUREMENTS (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Financial Instruments And Fair Value Measurements [Abstract] |
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| Schedule of Hierarchy Levels that may be Used to Measure Fair Value |
The fair value standard describes three levels within its hierarchy that may be used to measure fair value. | | | | | | | | | | Level | Description | Financial Instrument (Assets / Liabilities) | | Level 1 | Quoted prices (unadjusted) in active markets for identical assets or liabilities. | Exchange traded derivative contracts.
Marketable securities in active markets. | | Level 2 | Observable inputs, including adjusted Level 1 quotes, 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. | Exchange traded derivative contracts (less liquid markets).
Readily marketable inventories.
Over-the-counter ("OTC") commodity purchase and sales contracts.
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.
Marketable securities in less active markets. | | 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. | Assets and liabilities whose value is determined using proprietary pricing models, discounted cash flow methodologies or similar techniques.
Assets and liabilities for which the determination of fair value requires significant management judgment or estimation. |
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| Schedule of Assets and Liabilities Accounted for at Fair Value on a Recurring Basis |
The following table sets forth, by level, the Company’s assets and liabilities that were accounted for at fair value on a recurring basis. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at Reporting Date | | | | June 30, 2026 | | December 31, 2025 | | (US$ in millions) | | Level 1 | Level 2 | Level 3 | Total | | Level 1 | Level 2 | Level 3 | Total | | Assets: | | | | | | | | | | | | Cash equivalents | | $ | — | | $ | 1 | | $ | — | | $ | 1 | | | $ | 1 | | $ | 90 | | $ | — | | $ | 91 | | Readily marketable inventories(1) (Note 5) | | — | | 10,525 | | 2,851 | | 13,376 | | | — | | 9,954 | | 1,407 | | 11,361 | | | | | | | | | | | | | Unrealized gain on derivative contracts (2): | | | | | | | | | | | | Interest rate | | 1 | | 12 | | — | | 13 | | | — | | 13 | | — | | 13 | | | Foreign exchange | | 3 | | 515 | | — | | 518 | | | — | | 327 | | — | | 327 | | | Commodities | | 303 | | 694 | | 204 | | 1,201 | | | 179 | | 706 | | 227 | | 1,112 | | | Freight | | 33 | | — | | — | | 33 | | | 33 | | — | | — | | 33 | | | Energy | | 138 | | — | | — | | 138 | | | 56 | | — | | — | | 56 | | | Credit | | — | | 4 | | — | | 4 | | | — | | 1 | | — | | 1 | | | | | | | | | | | | | | | | | | | | | | | | Other (3) | | 91 | | 61 | | — | | 152 | | | 117 | | 61 | | — | | 178 | | | Total assets | | $ | 569 | | $ | 11,812 | | $ | 3,055 | | $ | 15,436 | | | $ | 386 | | $ | 11,152 | | $ | 1,634 | | $ | 13,172 | | | Liabilities: | | | | | | | | | | | Trade accounts payable (4) | | $ | — | | $ | 556 | | $ | 318 | | $ | 874 | | | $ | — | | $ | 464 | | $ | 95 | | $ | 559 | | Unrealized loss on derivative contracts (5): | | | | | | | | | | | | Interest rate | | 1 | | 203 | | — | | 204 | | | — | | 120 | | — | | 120 | | | Foreign exchange | | 3 | | 450 | | — | | 453 | | | — | | 329 | | — | | 329 | | | Commodities | | 267 | | 783 | | 221 | | 1,271 | | | 154 | | 581 | | 206 | | 941 | | | Freight | | 83 | | — | | — | | 83 | | | 53 | | — | | — | | 53 | | | Energy | | 93 | | — | | — | | 93 | | | 84 | | — | | — | | 84 | | | Credit | | — | | 2 | | — | | 2 | | | — | | 1 | | — | | 1 | | | | | | | | | | | | | | Total liabilities | | $ | 447 | | $ | 1,994 | | $ | 539 | | $ | 2,980 | | | $ | 291 | | $ | 1,495 | | $ | 301 | | $ | 2,087 | |
(1) At June 30, 2026, there were RMI totaling $65 million included in Assets held for sale. (2) Unrealized gains on derivative contracts are generally included in Other current assets. There were $1 million and $8 million included in Other non-current assets at June 30, 2026, and December 31, 2025, respectively. At June 30, 2026, and December 31, 2025, there were $2 million and zero, respectively, included in Assets held for sale. (3) Other includes the fair values of marketable securities and investments in Other current assets and Other non-current assets. (4) These payables are hybrid financial instruments for which Bunge has elected the fair value option as they are derived from purchases and sales of agricultural commodity products in the normal course of business. (5) Unrealized losses on derivative contracts are generally included in Other current liabilities. There were $225 million and $120 million included in Other non-current liabilities at June 30, 2026, and December 31, 2025, respectively. At June 30, 2026, and December 31, 2025, there were $1 million and zero, respectively, included in Liabilities held for sale.
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| Schedule of Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) |
The tables below present reconciliations for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three and six months ended June 30, 2026, and 2025. These instruments were valued using pricing models that management believes reflect the assumptions that would be used by a marketplace participant. | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | (US$ in millions) | Readily
Marketable
Inventories | Derivatives,
Net | Trade
Accounts
Payable | | Total | | Balance, April 1, 2026 | $ | 2,532 | | $ | (3) | | $ | (336) | | | $ | 2,193 | | Total gains and losses (realized/unrealized) included in Cost of goods sold (1) | 352 | | 23 | | (8) | | | 367 | | | | | | | | | | | | | | | Purchases | 2,168 | | — | | (155) | | | 2,013 | | | Sales | (1,955) | | — | | — | | | (1,955) | | | | | | | | | Settlements | — | | — | | 173 | | | 173 | | | Transfers into Level 3 | 1,372 | | (8) | | (2) | | | 1,362 | | | Transfers out of Level 3 | (1,631) | | (29) | | 12 | | | (1,648) | | | Translation adjustment | 13 | | — | | (2) | | | 11 | | | Balance, June 30, 2026 | $ | 2,851 | | $ | (17) | | $ | (318) | | | $ | 2,516 | |
(1) Readily marketable inventories, derivatives, net, and Trade accounts payable, include gains/(losses) of $312 million, $25 million and $(8) million, respectively, that are attributable to the change in unrealized gains/(losses) relating to Level 3 assets and liabilities still held at June 30, 2026.
| | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | (US$ in millions) | Readily
Marketable
Inventories | Derivatives,
Net | Trade
Accounts
Payable | | Total | | Balance, April 1, 2025 | $ | 1,362 | | $ | 28 | | $ | (301) | | | $ | 1,089 | | Total gains and losses (realized/unrealized) included in Cost of goods sold (1) | 21 | | (21) | | 4 | | | 4 | | | | | | | | | | | | | | | Purchases | 681 | | — | | (125) | | | 556 | | | Sales | (642) | | — | | — | | | (642) | | | | | | | | | Settlements | — | | — | | 163 | | | 163 | | | Transfers into Level 3 | 382 | | 7 | | (1) | | | 388 | | | Transfers out of Level 3 | (329) | | — | | 2 | | | (327) | | | Translation adjustment | 60 | | 1 | | (15) | | | 46 | | | Balance, June 30, 2025 | $ | 1,535 | | $ | 15 | | $ | (273) | | | $ | 1,277 | |
(1) Readily marketable inventories, derivatives, net, and Trade accounts payable, includes gains/(losses) of $41 million, $(26) million and $5 million, respectively, that are attributable to the change in unrealized gains/(losses) relating to Level 3 assets and liabilities still held at June 30, 2025. | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | (US$ in millions) | Readily
Marketable
Inventories | Derivatives,
Net | Trade
Accounts
Payable | | Total | | Balance, January 1, 2026 | $ | 1,407 | | $ | 21 | | $ | (95) | | | $ | 1,333 | | | | | | | | | | | | | | Total gains and losses (realized/unrealized) included in Cost of goods sold (1) | 912 | | 11 | | 2 | | | 925 | | | Purchases | 4,454 | | — | | (425) | | | 4,029 | | | Sales | (3,310) | | — | | — | | | (3,310) | | | | | | | | | Settlements | — | | — | | 197 | | | 197 | | | Transfers into Level 3 | 2,114 | | 11 | | (9) | | | 2,116 | | | Transfers out of Level 3 | (2,758) | | (56) | | 18 | | | (2,796) | | | Translation adjustment | 32 | | (4) | | (6) | | | 22 | | | Balance, June 30, 2026 | $ | 2,851 | | $ | (17) | | $ | (318) | | | $ | 2,516 | |
(1) Readily marketable inventories, derivatives, net, and Trade accounts payable, include gains/(losses) of $910 million, $(68) million and $1 million, respectively, that are attributable to the change in unrealized gains/(losses) relating to Level 3 assets and liabilities still held at June 30, 2026.
| | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | (US$ in millions) | Readily
Marketable
Inventories | Derivatives,
Net | Trade
Accounts
Payable | | Total | | Balance, January 1, 2025 | $ | 419 | | $ | 30 | | $ | (62) | | | $ | 387 | | Total gains and losses (realized/unrealized) included in Cost of goods sold (1) | 95 | | (27) | | 12 | | | 80 | | | | | | | | | | | | | | | Purchases | 1,706 | | — | | (387) | | | 1,319 | | | Sales | (1,216) | | — | | — | | | (1,216) | | | | | | | | | Settlements | — | | — | | 185 | | | 185 | | | Transfers into Level 3 | 947 | | 10 | | (5) | | | 952 | | | Transfers out of Level 3 | (496) | | (1) | | 3 | | | (494) | | | Translation adjustment | 80 | | 3 | | (19) | | | 64 | | | Balance, June 30, 2025 | $ | 1,535 | | $ | 15 | | $ | (273) | | | $ | 1,277 | |
(1) Readily marketable inventories, derivatives, net, and Trade accounts payable, includes gains/(losses) of $117 million, $(29) million and $12 million, respectively, that are attributable to the change in unrealized gains/(losses) relating to Level 3 assets and liabilities still held at June 30, 2025.
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| Schedule of Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) |
The tables below present reconciliations for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three and six months ended June 30, 2026, and 2025. These instruments were valued using pricing models that management believes reflect the assumptions that would be used by a marketplace participant. | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | (US$ in millions) | Readily
Marketable
Inventories | Derivatives,
Net | Trade
Accounts
Payable | | Total | | Balance, April 1, 2026 | $ | 2,532 | | $ | (3) | | $ | (336) | | | $ | 2,193 | | Total gains and losses (realized/unrealized) included in Cost of goods sold (1) | 352 | | 23 | | (8) | | | 367 | | | | | | | | | | | | | | | Purchases | 2,168 | | — | | (155) | | | 2,013 | | | Sales | (1,955) | | — | | — | | | (1,955) | | | | | | | | | Settlements | — | | — | | 173 | | | 173 | | | Transfers into Level 3 | 1,372 | | (8) | | (2) | | | 1,362 | | | Transfers out of Level 3 | (1,631) | | (29) | | 12 | | | (1,648) | | | Translation adjustment | 13 | | — | | (2) | | | 11 | | | Balance, June 30, 2026 | $ | 2,851 | | $ | (17) | | $ | (318) | | | $ | 2,516 | |
(1) Readily marketable inventories, derivatives, net, and Trade accounts payable, include gains/(losses) of $312 million, $25 million and $(8) million, respectively, that are attributable to the change in unrealized gains/(losses) relating to Level 3 assets and liabilities still held at June 30, 2026.
| | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | (US$ in millions) | Readily
Marketable
Inventories | Derivatives,
Net | Trade
Accounts
Payable | | Total | | Balance, April 1, 2025 | $ | 1,362 | | $ | 28 | | $ | (301) | | | $ | 1,089 | | Total gains and losses (realized/unrealized) included in Cost of goods sold (1) | 21 | | (21) | | 4 | | | 4 | | | | | | | | | | | | | | | Purchases | 681 | | — | | (125) | | | 556 | | | Sales | (642) | | — | | — | | | (642) | | | | | | | | | Settlements | — | | — | | 163 | | | 163 | | | Transfers into Level 3 | 382 | | 7 | | (1) | | | 388 | | | Transfers out of Level 3 | (329) | | — | | 2 | | | (327) | | | Translation adjustment | 60 | | 1 | | (15) | | | 46 | | | Balance, June 30, 2025 | $ | 1,535 | | $ | 15 | | $ | (273) | | | $ | 1,277 | |
(1) Readily marketable inventories, derivatives, net, and Trade accounts payable, includes gains/(losses) of $41 million, $(26) million and $5 million, respectively, that are attributable to the change in unrealized gains/(losses) relating to Level 3 assets and liabilities still held at June 30, 2025. | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | (US$ in millions) | Readily
Marketable
Inventories | Derivatives,
Net | Trade
Accounts
Payable | | Total | | Balance, January 1, 2026 | $ | 1,407 | | $ | 21 | | $ | (95) | | | $ | 1,333 | | | | | | | | | | | | | | Total gains and losses (realized/unrealized) included in Cost of goods sold (1) | 912 | | 11 | | 2 | | | 925 | | | Purchases | 4,454 | | — | | (425) | | | 4,029 | | | Sales | (3,310) | | — | | — | | | (3,310) | | | | | | | | | Settlements | — | | — | | 197 | | | 197 | | | Transfers into Level 3 | 2,114 | | 11 | | (9) | | | 2,116 | | | Transfers out of Level 3 | (2,758) | | (56) | | 18 | | | (2,796) | | | Translation adjustment | 32 | | (4) | | (6) | | | 22 | | | Balance, June 30, 2026 | $ | 2,851 | | $ | (17) | | $ | (318) | | | $ | 2,516 | |
(1) Readily marketable inventories, derivatives, net, and Trade accounts payable, include gains/(losses) of $910 million, $(68) million and $1 million, respectively, that are attributable to the change in unrealized gains/(losses) relating to Level 3 assets and liabilities still held at June 30, 2026.
| | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | (US$ in millions) | Readily
Marketable
Inventories | Derivatives,
Net | Trade
Accounts
Payable | | Total | | Balance, January 1, 2025 | $ | 419 | | $ | 30 | | $ | (62) | | | $ | 387 | | Total gains and losses (realized/unrealized) included in Cost of goods sold (1) | 95 | | (27) | | 12 | | | 80 | | | | | | | | | | | | | | | Purchases | 1,706 | | — | | (387) | | | 1,319 | | | Sales | (1,216) | | — | | — | | | (1,216) | | | | | | | | | Settlements | — | | — | | 185 | | | 185 | | | Transfers into Level 3 | 947 | | 10 | | (5) | | | 952 | | | Transfers out of Level 3 | (496) | | (1) | | 3 | | | (494) | | | Translation adjustment | 80 | | 3 | | (19) | | | 64 | | | Balance, June 30, 2025 | $ | 1,535 | | $ | 15 | | $ | (273) | | | $ | 1,277 | |
(1) Readily marketable inventories, derivatives, net, and Trade accounts payable, includes gains/(losses) of $117 million, $(29) million and $12 million, respectively, that are attributable to the change in unrealized gains/(losses) relating to Level 3 assets and liabilities still held at June 30, 2025.
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