Statement Regarding
Computation of Ratios of Earnings to
Fixed Charges and Preferred Stock Dividends

	Year Ended December 31,

(US$ in millions except ratios)	2011			2010			2009			2008			2007
Earnings⁽¹⁾
Pretax income before noncontrolling interests⁽²⁾	$	940		$	3,050		$	145		$	1,537		$	1,201
plus: Fixed Charges		436			465			443			503			449
Amortization of capitalized interest		19			15			16			13			11
Distributed income of equity investees		5			4			5			4			12
less: Capitalized interest		(16	)		(21	)		(26	)		(18	)		(15	)
Preferred stock dividends		(34	)		(67	)		(78	)		(78	)		(40	)
Earnings:	$	1,350		$	3,446		$	505		$	1,961		$	1,618
Fixed Charges⁽¹⁾
Capitalized interest	$	16		$	21		$	26		$	18		$	15
Expensed interest		302			298			283			361			353
plus: Amortized premiums, discounts and capitalized debt expenditures		23			27			15			6			6
Estimate of interest within rental expense		61			52			41			40			35
Preferred stock dividends		34			67			78			78			40
Fixed charges:	$	436		$	465		$	443		$	503		$	449
Ratio of Earnings/Fixed Charges		3.10			7.41			1.14			3.90			3.60

⁽¹⁾: For the purpose of determining the Ratio of Earnings to Fixed Charges and Preferred Stock Dividends, earnings are defined as pretax income before noncontrolling interests in consolidated subsidiaries plus fixed charges and amortization of capitalized interest less capitalized interest and preferred stock dividend requirements. Fixed charges consist of interest expense (capitalized and expensed), amortization of deferred debt issuance costs, portion of rental expense that is representative of the interest factor and preferred stock dividend requirements of the registrant and consolidated subsidiaries.
⁽²⁾: Includes a pretax gain of $2,440 million related to the May 2010 sale of Bunge's Brazilian fertilizer nutrients assets.