	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).