| Quarterly Financial Information (Unaudited) |
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28. Quarterly Financial Information (Unaudited)
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Quarter |
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(US$ in millions, except per share data) |
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First |
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Second |
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Third |
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Fourth |
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Year End |
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2010 (1) |
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Volumes (in millions of metric tons) |
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32 |
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36 |
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35 |
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32 |
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135 |
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Net sales |
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$ |
10,345 |
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$ |
10,974 |
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$ |
11,662 |
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$ |
12,726 |
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$ |
45,707 |
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Gross profit |
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545 |
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425 |
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712 |
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829 |
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2,511 |
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Net income |
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80 |
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1,787 |
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206 |
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315 |
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2,388 |
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Net income attributable to Bunge |
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63 |
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1,778 |
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212 |
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301 |
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2,354 |
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Earnings per common share—basic |
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Net income |
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$ |
0.57 |
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$ |
12.41 |
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$ |
1.48 |
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$ |
2.23 |
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$ |
16.91 |
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Earnings to Bunge common shareholders |
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$ |
0.31 |
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$ |
12.21 |
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$ |
1.38 |
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$ |
2.07 |
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$ |
16.20 |
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Earnings per common share—diluted (2) |
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Net income |
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$ |
0.57 |
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$ |
11.21 |
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$ |
1.39 |
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$ |
2.04 |
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$ |
15.28 |
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Earnings to Bunge common shareholders |
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$ |
0.31 |
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$ |
11.15 |
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$ |
1.36 |
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$ |
1.95 |
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$ |
15.06 |
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Weighted-average number of shares outstanding—basic |
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140,112,091 |
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144,034,189 |
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139,600,641 |
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141,025,069 |
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141,191,136 |
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Weighted-average number of shares outstanding—diluted |
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141,286,541 |
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159,448,713 |
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147,993,316 |
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154,382,325 |
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156,274,814 |
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Market price: |
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High |
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$ |
71.29 |
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$ |
61.85 |
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$ |
61.61 |
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$ |
65.52 |
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Low |
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$ |
56.90 |
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$ |
47.19 |
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$ |
46.29 |
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$ |
57.45 |
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2009 |
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Volumes (in millions of metric tons) |
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32 |
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38 |
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37 |
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34 |
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141 |
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Net sales |
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$ |
9,198 |
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$ |
10,994 |
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$ |
11,298 |
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$ |
10,436 |
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$ |
41,926 |
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Gross profit |
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135 |
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412 |
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343 |
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314 |
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1,204 |
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Net (loss) income |
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(176 |
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322 |
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197 |
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(8 |
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335 |
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Net income attributable to Bunge |
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(195 |
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313 |
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232 |
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11 |
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361 |
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Earnings per common share—basic |
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Net (loss) income |
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$ |
(1.45 |
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$ |
2.64 |
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$ |
1.54 |
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$ |
(0.60 |
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$ |
2.65 |
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Earnings (loss) to Bunge common shareholders |
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$ |
(1.76 |
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$ |
2.40 |
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$ |
1.82 |
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$ |
(0.21 |
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$ |
2.24 |
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Earnings per common share—diluted (2) |
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Net (loss) income |
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$ |
(1.45 |
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$ |
2.34 |
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$ |
1.37 |
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$ |
(0.60 |
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$ |
2.62 |
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Earnings (loss) to Bunge common shareholders |
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$ |
(1.76 |
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$ |
2.28 |
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$ |
1.62 |
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$ |
(0.21 |
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$ |
2.22 |
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Weighted-average number of shares outstanding—basic |
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121,730,058 |
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122,026,034 |
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127,800,921 |
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134,084,639 |
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126,448,071 |
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Weighted-average number of shares outstanding—diluted |
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121,730,058 |
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137,576,049 |
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143,540,130 |
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134,084,639 |
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127,669,822 |
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Market price: |
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High |
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$ |
59.33 |
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$ |
67.89 |
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$ |
72.41 |
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$ |
68.51 |
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Low |
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$ |
41.61 |
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$ |
46.58 |
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$ |
54.44 |
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$ |
57.06 |
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- (1)
- In 2010, Bunge sold its Brazilian fertilizer nutrients assets, including its interest in Fertilizantes Fosfatados S.A. (Fosfertil). Bunge recognized a pretax gain of $2,440 million on this transaction which is included in segment EBIT (see Note 3 of the notes to the consolidated financial statements). Also, included in segment EBIT for 2010 is an unallocated loss of $90 million related to loss on extinguishment of debt (see Note 17 of the notes to the consolidated financial statements).
- (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, 2010 and 2009 does not equal the total computed for the year.
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