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EARNINGS PER COMMON SHARE
 3 Months Ended
Mar. 31, 2012
EARNINGS PER COMMON SHARE  
EARNINGS PER COMMON SHARE

 

 

19.          EARNINGS PER COMMON SHARE

 

The following table sets forth the computation of basic and diluted earnings per common share.

 

 

 

Three Months Ended

 

 

 

March 31,

 

(US$ in millions, except for share data)

 

2012

 

2011

 

Net income attributable to Bunge

 

$

92

 

$

232

 

Convertible preference share dividends

 

(8

)

(8

)

Net income available to Bunge common shareholders

 

$

84

 

$

224

 

Weighted average number of common shares outstanding:

 

 

 

 

 

Basic

 

145,718,123

 

146,842,755

 

Effect of dilutive shares:

 

 

 

 

 

–Stock options and awards

 

864,776

 

1,257,516

 

–Convertible preference shares

 

—

 

7,547,220

 

Diluted (1)

 

146,582,899

 

155,647,491

 

Earnings per common share:

 

 

 

 

 

Basic

 

$

0.57

 

$

1.53

 

Diluted

 

$

0.57

 

$

1.49

 

 

(1)  Approximately 5 million outstanding stock options and contingently issuable restricted stock units were not dilutive and not included in the weighted-average number of common shares outstanding for the three months ended March 31, 2012. Approximately 8 million weighted-average common shares that are issuable upon conversion of the convertible preference shares were not dilutive and not included in the weighted-average number of common shares outstanding for the three months ended March 31, 2012. Approximately 2 million outstanding stock options and contingently issuable restricted stock units were not dilutive and not included in the weighted-average number of common shares outstanding for the three months ended March 31, 2011.