17. EARNINGS PER COMMON SHARE

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(US$ in millions, except for share data)	2013			2012			2013			2012
Income (loss) from continuing operations	$	(296	)	$	299		$	(17	)	$	689
Net (income) loss attributable to noncontrolling interests	45			(4		)	91			7
Income (loss) from continuing operations attributable to Bunge	(251		)	295			74			696
Other redeemable obligations (1)	(9		)	—			(28		)	—
Convertible preference share dividends	(8		)	(8		)	(25		)	(25		)
Income (loss) from discontinued operations, net of tax	103			2			94			(33		)
Net income (loss) available to Bunge common shareholders	$	(165	)	$	289		$	115		$	638
Weighted-average number of common shares outstanding:
Basic	147,349,175			146,074,712			147,044,232			145,921,603
Effect of dilutive shares:
–stock options and awards	—			986,835			981,920			1,029,573
–convertible preference shares	—			7,583,790			—			7,583,790
Diluted (2)	147,349,175			154,645,337			148,026,152			154,534,966

Basic earnings per common share:
Net income (loss) from continuing operations	$	(1.82	)	$	1.96		$	0.14		$	4.59
Net income (loss) from discontinued operations	0.69			0.01			0.64			(0.22		)
Net income (loss) attributable to Bunge common shareholders—basic	$	(1.13	)	$	1.97		$	0.78		$	4.37

Diluted earnings per common share:
Net income (loss) from continuing operations	$	(1.82	)	$	1.91		$	0.14		$	4.50
Net income (loss) from discontinued operations	0.69			0.01			0.64			(0.21		)
Net income (loss) attributable to Bunge common shareholders—diluted	$	(1.13	)	$	1.92		$	0.78		$	4.29

(1) Accretion of redeemable noncontrolling interests of $9 million and $28 million for the three and nine months ended September 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 nine months ended September 30, 2013.

(2) Weighted-average common shares outstanding-diluted for the three months ended September 30, 2013 exclude the dilutive effect of approximately 3 million of outstanding stock options and contingently issuable restricted stock units and the dilutive effect of approximately 1 million incremental common shares and 7.6 million weighted average common shares that would be issuable upon conversion of Bunge’s convertible preference shares because the effects of these conversions would not have been dilutive. Weighted-average common shares outstanding-diluted for the nine months ended September 30, 2013 exclude the dilutive effect of approximately 3 million of outstanding stock options and contingently issuable restricted stock units and the dilutive effect of approximately 7.6 million weighted average common shares that would be issuable upon conversion of Bunge’s convertible preference shares because the effects of these conversions would not have been dilutive.

Weighted-average common shares outstanding-diluted for the three and nine months ended September 30, 2012 exclude the dilutive effect of approximately 4 million of outstanding stock options and contingently issuable restricted stock units because the effect of conversion would not have been dilutive. Weighted-average common shares outstanding-diluted for the three and nine months ended nine months ended September 30, 2012 include the dilutive effect of 7.6 million weighted average common shares that would be issuable upon conversion of Bunge’s convertible preference shares.