| EARNINGS PER COMMON SHARE |
EARNINGS PER COMMON SHARE The following table sets forth the computation of basic and diluted earnings per common share. | | | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | (US$ in millions, except for share data) | | 2017 | | 2016 | | 2017 | | 2016 | Income (loss) from continuing operations | | $ | 92 |
| | $ | 125 |
| | $ | 227 |
| | $ | 490 |
| Net (income) loss attributable to noncontrolling interests | | — |
| | (12 | ) | | (7 | ) | | (8 | ) | Income (loss) from continuing operations attributable to Bunge | | 92 |
| | 113 |
| | 220 |
| | 482 |
| Other redeemable obligations (1) | | — |
| | 6 |
| | — |
| | (2 | ) | Convertible preference share dividends | | (8 | ) | | (8 | ) | | (25 | ) | | (25 | ) | Income (loss) from discontinued operations, net of tax | | — |
| | 5 |
| | — |
| | (8 | ) | Net income (loss) available to Bunge common shareholders | | $ | 84 |
| | $ | 116 |
| | $ | 195 |
| | $ | 447 |
| | | | | | | | | | Weighted-average number of common shares outstanding: | | |
| | |
| | |
| | |
| Basic | | 140,601,605 |
| | 139,444,320 |
| | 140,276,421 |
| | 139,969,200 |
| Effect of dilutive shares: | | |
| | |
| | |
| | |
| —stock options and awards | | 954,694 |
| | 483,525 |
| | 1,008,169 |
| | 341,890 |
| —convertible preference shares | | — |
| | — |
| | — |
| | 7,909,470 |
| Diluted (2) | | 141,556,299 |
| | 139,927,845 |
| | 141,284,590 |
| | 148,220,560 |
| | | | | | | | | | Basic earnings per common share: | | | | | | | | | Net income (loss) from continuing operations | | $ | 0.59 |
| | $ | 0.80 |
| | $ | 1.39 |
| | $ | 3.25 |
| Net income (loss) from discontinued operations | | — |
| | 0.03 |
| | (0.01 | ) | | (0.06 | ) | Net income (loss) attributable to Bunge common shareholders—basic | | $ | 0.59 |
| | $ | 0.83 |
| | $ | 1.38 |
| | $ | 3.19 |
| | | | | | | | | | Diluted earnings per common share: | | | | | | | | | Net income (loss) from continuing operations | | $ | 0.59 |
| | $ | 0.79 |
| | $ | 1.38 |
| | $ | 3.24 |
| Net income (loss) from discontinued operations | | — |
| | 0.04 |
| | (0.01 | ) | | (0.05 | ) | Net income (loss) attributable to Bunge common shareholders—diluted | | $ | 0.59 |
| | $ | 0.83 |
| | $ | 1.37 |
| | $ | 3.19 |
|
| | (1) | Accretion of redeemable noncontrolling interest of $6 million gain and $2 million loss for the three and nine months ended September 30, 2016, respectively, related to a non-fair value variable put arrangement whereby the noncontrolling interest holder could require Bunge to purchase the remaining shares of an oilseed processing operation in Central and Eastern Europe. Accretion for the respective periods include the effect of losses incurred by the operations for the three and nine months ended September 30, 2016. In the second quarter of 2016, Bunge exercised its call option. This transaction concluded in September 2016. |
| | (2) | Approximately 3 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, 2017. 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 nine months ended September 30, 2017. |
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. |