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)	2016			2015			2016			2015
Income from continuing operations	$	125		$	213		$	490		$	551
Net (income) loss attributable to noncontrolling interests	(12		)	5			(8		)	1

Income (loss) from continuing operations attributable to Bunge	113			218			482			552

Other redeemable obligations (1)	6			(2		)	(2		)	(13		)
Convertible preference share dividends	(8		)	(8		)	(25		)	(25		)
Income (loss) from discontinued operations, net of tax	5			21			(8		)	36

Net income (loss) available to Bunge common shareholders	$	116		$	229		$	447		$	550


Weighted-average number of common shares outstanding:
Basic	139,444,320			143,361,057			139,969,200			144,077,505
Effect of dilutive shares:
—stock options and awards	483,525			638,412			341,890			822,124
—convertible preference shares	—			7,794,930			7,909,470			7,794,930

Diluted (2)	139,927,845			151,794,399			148,220,560			152,694,559


Basic earnings per common share:
Net income (loss) from continuing operations	$	0.80		$	1.45		$	3.25		$	3.57
Net income (loss) from discontinued operations	0.03			0.14			(0.06		)	0.25

Net income (loss) to Bunge common shareholders—basic	$	0.83		$	1.59		$	3.19		$	3.82


Diluted earnings per common share:
Net income (loss) from continuing operations	$	0.79		$	1.42		$	3.24		$	3.53
Net income (loss) from discontinued operations	0.04			0.14			(0.05		)	0.24

Net income (loss) to Bunge common shareholders—diluted	$	0.83		$	1.56		$	3.19		$	3.77

⁽¹⁾

Accretion of redeemable noncontrolling interest of $6 million gain and $2 million loss for the three months ended September 30, 2016 and 2015, respectively, and $2 million and $13 million loss for the nine months ended September 30, 2016 and 2015, respectively, related to a non-fair value variable put arrangement whereby the noncontrolling interest holder may have required Bunge to purchase the remaining shares of an oilseed processing operation in Central and Eastern Europe. As further discussed in Note 15 Redeemable Noncontrolling Interest, during the second quarter of 2016 Bunge exercised its call option with Prio for their 45% interest in the joint venture for approximately $39 million. The transaction concluded in September 2016. Accretion for the respective periods includes the effect of losses incurred by the operations for the three and nine months ended September 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 nine months ended September 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 September 30, 2016.

Approximately 3 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 nine months ended September 30, 2015.