v2.3.0.15
EQUITY
9 Months Ended
Sep. 30, 2011
EQUITY 
EQUITY

 

 

18.                               EQUITY

 

Share Repurchase Program — On June 8, 2010, Bunge announced that its Board of Directors had approved a program for the repurchase of up to $700 million of Bunge’s issued and outstanding common shares.  The program runs through December 31, 2011.  In 2011, Bunge repurchased 1,933,286 common shares for $120 million through September 30, 2011. Bunge repurchased 6,714,573 common shares for $354 million from inception of the program through December 31, 2010 bringing repurchases under the program through September 30, 2011 to 8,647,859 shares for $474 million.

 

Accumulated Other Comprehensive Income (Loss) attributable to Bunge — The following table summarizes the balances of related after tax components of accumulated other comprehensive income (loss) attributable to Bunge:

 

 

 

 

 

 

 

Pension

 

 

 

 

 

 

 

Foreign

 

Deferred

 

And Other

 

Unrealized

 

Accumulated

 

 

 

Exchange

 

Gain (Loss)

 

Postretirement

 

Gain (Loss)

 

Other

 

 

 

Translation

 

on Hedging

 

Liability

 

on

 

Comprehensive

 

(US$ in millions)

 

Adjustment(1)

 

Activities

 

Adjustments

 

Investments

 

Income (Loss)

 

Balance, December 31, 2010

 

$

670

 

$

(2

)

$

(83

)

$

(2

)

$

583

 

Other comprehensive income (loss), net of tax

 

(980

)

(15

)

(2

)

(5

)

(1,002

)

Balance, September 30, 2011

 

$

(310

)

$

(17

)

$

(85

)

$

(7

)

$

(419

)

 

 

(1)             Bunge has significant operating subsidiaries in Brazil, Argentina and Europe. The functional currency of Bunge’s subsidiaries is the local currency. The assets and liabilities of these subsidiaries are translated into U.S. dollars from local currency at month-end exchange rates, and the resulting foreign exchange translation gains (losses) are recorded in the condensed consolidated balance sheets as a component of accumulated other comprehensive income (loss).