17. 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)	2013			2012			2013			2012
Income from continuing operations	$	121		$	259		$	278		$	383
Net (income) loss attributable to noncontrolling interests	14			8			46			11
Income from continuing operations attributable to Bunge	135			267			324			394
Other redeemable obligations (1)	(17		)	—			(19		)	—
Convertible preference share dividends	(9		)	(9		)	(17		)	(17		)
Income (loss) from discontinued operations, net of tax	1			7			(8		)	(28		)
Net income available to Bunge common shareholders	$	110		$	265		$	280		$	349
Weighted-average number of common shares outstanding:
Basic	147,128,500			145,974,965			146,889,234			145,846,544
Effect of dilutive shares:
–stock options and awards	745,341			917,117			1,015,658			963,943
–convertible preference shares	—			7,583,790			—			7,583,790
Diluted (2)	147,873,841			154,475,872			147,904,892			154,394,277

Basic earnings per common share:
Net income (loss) from continuing operations	$	0.74		$	1.77		$	1.97		$	2.58
Net income (loss) from discontinued operations	0.02			0.05			(0.06		)	(0.19		)
Net income attributable to Bunge common shareholders—basic	$	0.76		$	1.82		$	1.91		$	2.39

Diluted earnings per common share:
Net income (loss) from continuing operations	$	0.74		$	1.73		$	1.95		$	2.55
Net income (loss) from discontinued operations	0.01			0.05			(0.05		)	(0.18		)
Net income attributable to Bunge common shareholders—diluted	$	0.75		$	1.78		$	1.90		$	2.37

(1) Accretion of redeemable noncontrolling interests of $(17) million and $(19) million for the three and six months ended June 30, 2013 relates to a non-fair value variable put arrangement whereby the noncontrolling interest holder may require Bunge to purchase the remaining shares of an oilseed processing operation in Eastern Europe. Accretion for the respective periods includes the effect of losses incurred by the operations for the three and six months ended June 30, 2013.

(2) Approximately 4 million and 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 six months ended June 30, 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 the three and six months ended June 30, 2013.