v2.4.0.6

Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2011
Quarterly Financial Information (Unaudited) |
Quarterly Financial Information (Unaudited) |
|  | Quarter |  |  |
--- | --- | --- | --- | --- | ---
(US$ in millions, except per share data) |  | First |  | Second |  | Third |  | Fourth |  | Year End |
2011 (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Volumes (in millions of metric tons) |  |  | 29 |  |  | 36 |  |  | 38 |  |  | 39 |  |  | 142 |
Net sales |  | $ | 12,194 |  | $ | 14,488 |  | $ | 15,616 |  | $ | 16,445 |  | $ | 58,743 |
Gross profit |  |  | 639 |  |  | 647 |  |  | 706 |  |  | 736 |  |  | 2,728 |
Net income |  |  | 235 |  |  | 312 |  |  | 133 |  |  | 260 |  |  | 940 |
Net income attributable to Bunge |  |  | 232 |  |  | 316 |  |  | 140 |  |  | 254 |  |  | 942 |
Earnings per common share—basic |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 1.60 |  | $ | 2.12 |  | $ | 0.91 |  | $ | 1.79 |  | $ | 6.41 |
Earnings to Bunge common shareholders |  | $ | 1.53 |  | $ | 2.08 |  | $ | 0.90 |  | $ | 1.68 |  | $ | 6.20 |
Earnings per common share—diluted (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 1.51 |  | $ | 2.00 |  | $ | 0.90 |  | $ | 1.69 |  | $ | 6.06 |
Earnings to Bunge common shareholders |  | $ | 1.49 |  | $ | 2.02 |  | $ | 0.89 |  | $ | 1.65 |  | $ | 6.07 |
Weighted-average number of shares outstanding—basic |  |  | 146,842,755 |  |  | 147,281,549 |  |  | 146,684,583 |  |  | 145,557,720 |  |  | 146,583,128 |
Weighted-average number of shares outstanding—diluted |  |  | 155,647,491 |  |  | 156,176,828 |  |  | 147,631,723 |  |  | 153,924,296 |  |  | 155,209,045 |
Market price: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
High |  | $ | 74.45 |  | $ | 75.44 |  | $ | 73.08 |  | $ | 63.02 |  |  |  |
Low |  | $ | 65.39 |  | $ | 65.42 |  | $ | 56.10 |  | $ | 55.51 |  |  |  |
2010 (3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Volumes (in millions of metric tons) |  |  | 32 |  |  | 36 |  |  | 35 |  |  | 32 |  |  | 135 |
Net sales |  | $ | 10,345 |  | $ | 10,974 |  | $ | 11,662 |  | $ | 12,726 |  | $ | 45,707 |
Gross profit |  |  | 545 |  |  | 425 |  |  | 712 |  |  | 829 |  |  | 2,511 |
Net income |  |  | 80 |  |  | 1,787 |  |  | 206 |  |  | 315 |  |  | 2,388 |
Net income attributable to Bunge |  |  | 63 |  |  | 1,778 |  |  | 212 |  |  | 301 |  |  | 2,354 |
Earnings per common share—basic |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 0.57 |  | $ | 12.41 |  | $ | 1.48 |  | $ | 2.23 |  | $ | 16.91 |
Earnings to Bunge common shareholders |  | $ | 0.31 |  | $ | 12.21 |  | $ | 1.38 |  | $ | 2.07 |  | $ | 16.20 |
Earnings per common share—diluted (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 0.57 |  | $ | 11.21 |  | $ | 1.39 |  | $ | 2.04 |  | $ | 15.28 |
Earnings to Bunge common shareholders |  | $ | 0.31 |  | $ | 11.15 |  | $ | 1.36 |  | $ | 1.95 |  | $ | 15.06 |
Weighted Average number of shares: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average number of shares outstanding—basic |  |  | 140,112,091 |  |  | 144,034,189 |  |  | 139,600,641 |  |  | 141,025,069 |  |  | 141,191,136 |
Weighted-average number of shares outstanding—diluted |  |  | 141,286,541 |  |  | 159,448,713 |  |  | 147,993,316 |  |  | 154,382,325 |  |  | 156,274,814 |
Market price: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
High |  | $ | 71.29 |  | $ | 61.85 |  | $ | 61.61 |  | $ | 65.52 |  |  |  |
Low |  | $ | 56.90 |  | $ | 47.19 |  | $ | 46.29 |  | $ | 57.45 |  |  |  |
(1) Subsequent to the issuance of its third quarter financial statements for 2011, the Company became aware that net income for the third quarter excludes $33 million, net of tax, related to unrealized gains that were incorrectly excluded from results in the quarter. These mark-to-market gains arose from the impact of fluctuations in the Brazilian real at the end of the third quarter on certain foreign exchange derivatives associated with forward commodity contracts with farmers in Brazil. These gains substantially reversed in the first weeks of the fourth quarter, resulting in an offsetting mark-to-market loss of an equal amount that would have been recorded in the fourth quarter if the unrealized gains had been included in the third quarter. Based upon an evaluation of all relevant quantitative and qualitative factors, and after considering the provisions of APB Opinion No. 28, Interim Financial Reporting, paragraph 29, SAB No. 99, Materiality, and SAB 108, management believes the error was not material to the interim periods affected and therefore has not restated these 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, 2011 and 2010 does not equal the total computed for the year. (3) 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). Also, included in segment EBIT for 2010 is an unallocated loss of $90 million related to loss on extinguishment of debt (see Note 17).

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 270 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph (a)-(j) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306 + Details
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