17. 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)	2013			2012
Income from continuing operations	$	157		$	124
Net (income) loss attributable to noncontrolling interests	32			3
Income from continuing operations attributable to Bunge	189			127
Convertible preference share dividends and other obligations	(10		)	(8		)
Income (loss) from discontinued operations, net of tax	(9		)	(35		)
Net income available to Bunge common shareholders	$	170		$	84
Weighted-average number of common shares outstanding:
Basic	146,648,822			145,718,123
Effect of dilutive shares:
—stock options and awards (1)	1,218,995			864,776
—convertible preference shares	—			—
Diluted	147,867,817			146,582,899

Basic earnings per common share:
Net income (loss) from continuing operations	$	1.22		$	0.81
Net income (loss) from discontinued operations	(0.06		)	(0.24		)
Net income attributable to Bunge common shareholders—basic	$	1.16		$	0.57

Diluted earnings per common share:
Net income (loss) from continuing operations	$	1.21		$	0.81
Net income (loss) from discontinued operations	(0.06		)	(0.24		)
Net income attributable to Bunge common shareholders—diluted	$	1.15		$	0.57

(1) Approximately 4 million and 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, 2013 and 2012, respectively. 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 both the three months ended March 31, 2013 and 2012.