ST LOUIS, MO - April 24, 2020 - Bunge Limited (NYSE:BG) announced today that it has changed its segment reporting to separately disclose corporate and other activities from its reportable segments. Previously, corporate costs and certain other activities were allocated to the Company's reportable segments. Beginning with the first quarter 2020, Bunge will report segment results as follows: Agribusiness, Edible Oil Products, Milling Products, Sugar &Bioenergy, Fertilizer and Corporate &Other.
The segment reporting change reflects a corresponding change in how the Company's chief operating decision maker (its Chief Executive Officer) reviews financial information in order to allocate resources and assess performance. The change also builds upon our previously-stated strategic priorities by providing enhanced visibility of segment performance, and improves the comparability of our segment results and corporate and other activities with those of our industry peers.
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 operations, comprehensive income (loss), shareholders' 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 2019, together with that previously reported, accompanies this press release.
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