16.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)	2016			2015			2016			2015
Income from continuing operations	$	124		$	92		$	365		$	338
Net (income) loss attributable to noncontrolling interests	1			(7		)	4			(4		)

Income (loss) from continuing operations attributable to Bunge	125			85			369			334

Other redeemable obligations (1)	(3		)	(5		)	(8		)	(11		)
Convertible preference share dividends	(9		)	(9		)	(17		)	(17		)
Income (loss) from discontinued operations, net of tax	(4		)	1			(13		)	15

Net income (loss) available to Bunge common shareholders	$	109		$	72		$	331		$	321


Weighted-average number of common shares outstanding:
Basic	139,406,634			143,726,689			140,234,524			144,441,666
Effect of dilutive shares:
—stock options and awards	358,243			900,064			289,838			908,144
—convertible preference shares	—			—			7,877,730			—

Diluted (2)	139,764,877			144,626,753			148,402,092			145,349,810


Basic earnings per common share:
Net income (loss) from continuing operations	$	0.81		$	0.50		$	2.45		$	2.12
Net income (loss) from discontinued operations	(0.03		)	0.01			(0.09		)	0.11

Net income (loss) to Bunge common shareholders—basic	$	0.78		$	0.51		$	2.36		$	2.23


Diluted earnings per common share:
Net income (loss) from continuing operations	$	0.81		$	0.50		$	2.43		$	2.11
Net income (loss) from discontinued operations	(0.03		)	—			(0.09		)	0.10

Net income (loss) to Bunge common shareholders—diluted	$	0.78		$	0.50		$	2.34		$	2.21

⁽¹⁾

Accretion of redeemable noncontrolling interest of $3 million and $5 million for the three months ended June 30, 2016 and 2015, respectively, and $8 million and $11 million for the six months ended June 30, 2016 and 2015, respectively, 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 Central and 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, 2016, and 2015, respectively.

⁽²⁾

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, 2016. 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 June 30, 2016.

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 and six months ended June 30, 2015. 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, 2015.