|
19. EARNINGS PER COMMON SHARE
The following table sets forth the computation of basic and diluted earnings per common share.
|
|
|
Three Months Ended |
|
Six Months Ended |
|
|
|
|
June 30, |
|
June 30, |
|
|
(US$ in millions, except for share data) |
|
2012 |
|
2011 |
|
2012 |
|
2011 |
|
|
Net income attributable to Bunge |
|
$ |
274 |
|
$ |
316 |
|
$ |
366 |
|
$ |
548 |
|
|
Convertible preference share dividends |
|
(9 |
) |
(9 |
) |
(17 |
) |
(17 |
) |
|
Net income available to Bunge common shareholders |
|
$ |
265 |
|
$ |
307 |
|
$ |
349 |
|
$ |
531 |
|
|
Weighted average number of common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
Basic |
|
145,974,965 |
|
147,281,549 |
|
145,846,544 |
|
147,063,364 |
|
|
Effect of dilutive shares: |
|
|
|
|
|
|
|
|
|
|
—Stock options and awards |
|
917,117 |
|
1,348,059 |
|
963,943 |
|
1,338,085 |
|
|
—Convertible preference shares |
|
7,583,790 |
|
7,547,220 |
|
7,583,790 |
|
7,547,220 |
|
|
Diluted (1) |
|
154,475,872 |
|
156,176,828 |
|
154,394,277 |
|
155,948,669 |
|
|
Earnings per common share: |
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
1.82 |
|
$ |
2.08 |
|
$ |
2.39 |
|
$ |
3.61 |
|
|
Diluted |
|
$ |
1.78 |
|
$ |
2.02 |
|
$ |
2.37 |
|
$ |
3.51 |
|
(1) Approximately 4 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 and six months ended June 30, 2012, respectively. Approximately 1 million and 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 and six months ended June 30, 2011, respectively.
|